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Financial reporting of Social Security has been a controversial subject in the federal government. Current federal accounting standards require that liabilities be reported only for Social Security payments that are currently due and payable, but that no liability be reported for the unfunded actuarial present value of amounts due to retirees or their beneficiaries or for the unfunded actuarial present value of benefits earned by other participants in the Social Security system. However, the standard does require various disclosures regarding the financial status of Social Security. Give arguments for and against the current financial reporting standard, and state your opinion about the soundness of the standard.
discuss some of the presentation differences between the operating statements of not-for-profit and business-type
What is the common stock, retained earnings, cost of goods sold and net income. I have 5000 cash, 10000 inventory,45000 building,5000accounts payable.total liabitities stockholders 60000,revenues 80000 and administrative expeneses 10000
Compute the break-even point
crede inc. has two divisions. division a makes and sells student desks. division b manufactures and sells reading
rachel ray recently opened her own basket weaving studio. she sells finished baskets in addition to the raw materials
average daily sales the chamberlain corporation has an accounts receivable turnover equal to 12 times. if accounts
why are the basic financial statements of a governmentu2014more so than those of a businessu2014inadequate as a basis
management of modugno corporation is considering whether to purchase a new model 370 machine costing 441000 or a new
Analyze thenarrative to prepareAdjusting Entries and record themto the T-accountsandtheworksheet.
how can a firms security policies contribute and relate to the six main business objectives and give
The risk-free holding period return for the next six month is 4 percent, which corresponds to an 8 percent annual rate.
cincinnati flow technology cft has purchased 10000 pumps annually from kobec inc. because the price keeps increasing
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