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1. What is the difference between a "Revenue Center" and a "Profit Center"?
2. Discuss the Differences Between Responsibility Centers and Decentralization.
3. What other reasons are there to indicate decentralization is a better way of doing business?
4. Discuss types of control systems and how managers use these to achieve organizational goals.
The company's net income for the year was $9,600 higher under variable costing than it was under absorption costing. Given these facts, the number of units of product in the beginning inventory last year must have been:
It is sometimes said that in debt service funds, the accounting for interest revenue is inconsistent with that for interest expenditure. Explain. What is the rationale for this seeming inconsistency?
What impact does corporate taxation have on the accounting profession? What type of role do you see yourself playing with regard to corporate taxation?
Fairfax Company had a balance in Deferred Tax Liability of $840 on December 31, 2014, resulting from depreciation timing differences. Make the income tax journal entry for the Fairfax Company for December 31, 2014.
Angela Moss and Autumn Barber organize a partnership on January 1. Moss's intial net investment is 75,000 consisting of cash 17,500, equipment 82,500 and note payable reflecting a bank loan for a new business 25,000. Barber's initial investment is..
A rowdy spring break guest damages a jukebox that had been purchased in 1995 for $800. The jukebox had a useful of ten years, with an estimated salvage value of $75. The company decided to scrap the jukebox after the incident.
The balance sheet for Reading Company reports the following information on July 1, 2010. Reading decides to redeem these bonds at 102 after paying annual interest. Prepare the journal entry to record the redemption on July 1, 2010.
What role(s) does corporate social responsibility play in the development of a safety-first culture? What documents and strategies can management adopt to ensure that a corporate safety-first culture exists?
Suppose you have been employed into a new firm to oversee the accounting department. Explain what type of financial reports would you expect to see in your department?
Design a performance evaluation report for the purchasing department. Describe what each item in the report measures. Evaluate the performance of the purchasing department.
Publicly traded firms are required to report to the investors using an accrual not a cash-basis approach. Do you think they should? What are the advantages? The drawbacks?
Hugo was planting a tree when he unearthed 100,000 certificates of ITT bearer bonds, with a current value of $4 million.
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