stockholder is normally limited to their investment in the corporation. 2. Which of these is not a major advantage of a corporation? A. Separate legal existence B. Continuous life C. Government regulations D. Transferable ownership rights Correct Government regulations is a disadvantage, not an advantage of a corporation. 3. Which one of the following is a major disadvantage of a corporation? A. Limited liability of stockholders B. Additional taxes C. Transferable
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financial advantages and disadvantages of the sole proprietorship/ partnership form in comparison with the corporate form? 1 ) The profits are shared only by sole proprietor or in between the partners , while in corporate form the profits are searched with the number of shareholders that the company holds. 2) In sole proprietor and partnership the level of investments are not that large so the amount can easily be built through profits. 3) Sole proprietorships and partnerships cost less to
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indicators. For the issues with Ferguson & Son, Tom Emory’s statement regarding not knowing if the accounting department’s reports would reflect a good or bad performance shows a lack of communication within the organization. It seems the accounting department and the business owners are not communicating well because the business owners are not being kept informed of how they are performing and accounting is unaware of the business reasons behind the expense fluctuations. This creates inefficiency
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PROBLEM AND ITS SETTING I. Introduction As professionals, CPAs perform an essential role in society. They are responsible to all those who use their professional services. They also have a continuing responsibility to improve the art of accounting, maintain the public’s confidence, and carry out the profession’s special responsibilities for self-governance. However, the role of a CPA in helping businesses come up with a good and effective decision-making is said to be one of the important
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Reporting and Analyzing Stockholders’ Equity Study Objectives • • • • • • • • • Identify and discuss the major characteristics of a corporation. Understand the Components of Stockholders’ Equity. Record the issuance of common stock. Explain the accounting for the purchase of treasury stock. Differentiate preferred stock from common stock. Prepare the entries for cash dividends and understand the effect of stock dividends and stock splits. Identify the items that affect retained earnings. Prepare
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SUMMARY Jessica Turner has a master's degree in accounting and an undergrad degree in business. She established Turner Test Prep, a CPA exam review center, after being rejected by the Big Six accounting firms. She decided to bring the company into existence when she was searching for other employment options, and also because she had experience in the field when she worked at a review center's business office before taking up her master's degree. There, she inadvertently started teaching the math
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SDD4002 Report Global issue Topic: Nuclear energy Course Code: EG114400 Class: 1C Name: Lee Chak Kwan 150134649 Lee Tsz To 150035266 Chong Ching Ho 150415484 Yip Chung Hing 150589275 Leung Ka Shing 150171909 Lee Ki Kwan 150035752 Contents Introduction 3 Background 1.Identify a global issue 3 2.Background of the global issue 4 3.Formulate a title for the presentation proposal 5-6 Analysis of the global issue
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450-459, 461-464) 1. Benefits and Costs of Concentration A. Benefits (Advantages): 1) Firms can master one industry environment (top managers acquire an in-depth knowledge of the industry) 2) All resources are put back into the business (creates sustainable competitive advantage) 3) There are typically lower overhead costs and fewer “layers” in the organization which leads to reduced “bureaucratic costs” B. Costs (Disadvantages): 1) There is a total dependency
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building are major advantages for ICP. The low-cost sources enable ICP to reduce production costs and thus lower product prices, creating a price competitive advantage for ICP. 3. Negotiable prices and generous invoice processing time are also strengths of ICP, which is preferred by small-to-medium sized customers. 4. Non-unionized employees are also strength of ICP, which helps the firm avoid negative impacts of strikes and achieve flexibility in labor policies. Weakness 1. The current financial situation
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ledgers Legacy systems * Existing system, often based on old technology. Advantages are that legacy systems: * Customized to specific needs. * Support unique business processes not inherent in generic accounting software. * Contain invaluable historical data that may be difficult to integrate into a new system. * Well supported and understood by existing personnel. * Disadvantages are that legacy systems: * Costly to maintain. * Often lack adequate
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