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1.) Central Med Medical Clinic recently bought an Electec model 1555 mobile CT Scanner for $225,000. Typically CMMC depreciates their medical machine over a 3 year life, but they believe that the usage of the new mobile device and technology of the field will render the item obsolete within 1.5 years.
Which of the following depreciation methods would best allocate the cost of the CT scanner over it's estimated useful life?Answer:A. Straight Line methodB. Allowance methodC. Double Declining Balance methodD. Units of Production method
2.) Which of the following situations is an example of adequate internal controls?Answer:A. Fresh Florist's accountant was Mary Smith. After fifteen years of work, Mary was found to have been depositing small cash payments from clients into her own personal account when taking the daily bank deposit for the company. It's estimated that Mary had stolen up to $63,000 over the last two years alone. Mary's position was not insured against theft or loss by Fresh Florist.B. The warehouse employees of Barnyard, Industries are to provide shipping documents and inventory confirmations to the purchasing department/accounting department in a timely manner for reconciling of sales orders. Currently the warehouse is submitting only about 88% of all shipping documents which are being received 35-40 days following shipment by the purchasing/accounting department.C. Ted opens the mail and receives the check payments from clients, and counts the cash received through the mail unsupervised, before preparing the deposit slip and taking it to the bank the following date.D. HiTimes Motorcycles is a small cycle shop in Destin Florida. Eddie Cruzin, the company accountant, prepares a full bank reconciliation following receipt of the monthly bank statements, that he receives online and confirms all differences between the company's cash account and the bank account within one business day. Additionally Javier, the business owner, signs off on the bank reconciliation immediately following his review of it's preparation.
Why might it be difficult for the Fed to formally adopt inflation targeting? Would inflation targeting be a good policy for the Fed in the present economic environment
In using the Taylor Rule as a guideline for monetary policy, what are the pros and cons of using forecasted values of inflation and output rather than observed values of these variables?
Describe the present economic crisis situation in Europe. Why has it been so difficult for the Europeans to find a solution to this problem? Comment on what implications the crisis may have for the rest of the world if Europeans are not able to ag..
Question:. Explain why there are long-term Federal government budget problems. Explain why the base-line forecast of the CBO is misleading.
Question based on Derive and compare demand curve, Derive Ambrose's demand function for peanuts. How does it compare with Johnny's demand curve for peanuts?
Problem based on Utility Function - Problem, Answer and explain the following using a diagram which is completely labeled.
Question based on Laffer Curve : Tax Rate and Tax Revenue, Do raising tax rates necessarily raise tax revenue? What factors affect how tax revenue changes when tax rates change?
Problem - Income Elasticity of Demand, Interpret the following Income Elasticities of Demand (YED) values for the following and state if the good is normal or inferior; YED= +0.5 and YED= -2.5
Question Positive Balance of Payment: "Things will look good for the US if we could just get to where we are consistently running a positive Balance of Payments."
Comment on the effect of a recession on the investment curve (only) and on the level of savings, investment, and the equilibrium real interest rate in the financial crisis that hits United States first starting in fall 2007.
How will a fall in domestic investment affect the trade surplus and net capital outflows in the domestic economy, the trade deficit and capital inflows in the rest of the world.
Banking crises crisis decreases depositors' confidence in the banking system. What would be the effect of a rumor about a banking crisis on checkable deposits in such a country?
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