Exam 1 Research Xilin Song 1. Exam Question Number: 3 Facts: asymmetric information of capital market Issue: Which of the following best illustrates the concept of asymmetric information in a capital market? Analysis: In the article “ Transparency Financial Accounting Information and Corporate Governance” Robert and Abbie stated that “In the investigation of the economic effects of private information acquisition and dissemination, future research can consider the independent
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Multiple choice test (easy questions): 1. People who commit fraud are usually: a. New employees. b. Not well groomed and have long hair and tattoos. c. People with strong personalities. d. Trusted individuals. 2. “The use of one’s occupation for personal enrichment through the deliberate misuse or resources or assets” is the definition of which of the following types of fraud? a. Employee embezzlement or occupational fraud b. Investment scams c. Management fraud d. Vendor fraud
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10/1/2005 Dr. legal fee 400 (for Fred) Dr. cash 71600 Cr. common stock (for Fred: 1800 shares) 72000 10/1/2005 Dr. legal fee 400 (for Fred) Dr. cash 71600 Cr. common stock (for Fred: 1800 shares) 72000 1. Before 2005, service fee from lawyer $800, pay half half, then buy common stock 10/1/2005 Dr. legal fee 400 (for Bill) Dr. cash 19600 Cr. common stock (for Bill:500 share) 20000 2. November 1, 2005, purchased property with the aid of a $40,000 bank loan and $32,000 from company.
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Rosy E. Acuna ACCT. 500 October 20, 2013 BUSINESS CASE # 2 Twin Peaks Building Supplies The business environment has dramatically changed in the last two decades. Competition has severely intensified. The instant access to information via computers, smart phones, tablets, etc. allow consumers to compare prices and purchase merchandise from anywhere in the world. In addition, we have witnessed a considerable growth in retail chain companies such as Home Depot, Wal-Mart, Costco, etc. These big
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Revenue recognition – the accounting term for determining the amount of revenues to be “booked” for purposes of calculating a firm’s earnings in a given period – is an important, complex and controversial issue. The importance of revenue recognition stems from the accountant’s approach to calculating earnings, which is to first calculate recognized (“booked”) revenues, and then deduct the accounting costs of earning those revenues (a process known as “matching costs with revenues”). Consequently
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Haverwood Furniture Inc – Case Analysis Case Questions 1. Furniture industry. I would describe the household wood furniture industry as an important business sector of the overall furniture industry, which is divided into three major categories: 1) upholstered, 2) wood, and 3) read-to-assemble and casual furniture. Of these three, wood furniture makes up 40 percent of the total furniture sales. The different types of wood furniture include dressers, tables, bedroom and dining room suites
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past couple of decades. With today’s rapid increase in e-commerce, it makes it hard for “big-box” stores such as Best Buy to cope with the changing customer preferences. As a result, Best Buy’s 2011 financial performance fell subpar, with a 2.4% revenue decrease, and an overall loss of $1.23 billion. In response to this financial loss, the store is going to close 50 stores and fire 400 corporate staff members (Savitz). This report will provide a detailed internal and external analysis of Best Buy’s
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Deploying the Automated System for Customs Data (ASYCUDA) Computerize System to Enhance Tax Collection at the Liberia Revenue Authority (LRA) Proposal Topic: This paper will look at the manner in which tax is collected by the Government of Liberia (GOL) through the newly established Liberia Revenue Authority (LRA) and the impact on the revenue generating capacity of the and proposes possible solutions. Currently, the LRA is using Automated System for Customs Data (ASYCUDA) computerize system for
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Runcke Motor Company manufactures automobiles. During September 2011 the company purchased 5,000 head lamps at a cost of $9 per lamp. Runcke withdrew 4,650 lamps from the warehouse during the month. Fifty of these lamps were used to replace the head lamps in autos used by traveling sales staff. The remaining 4,600 lamps were put in autos manufactured during the month. Of the autos put into production during September 2011, 90% were completed and transferred to the company’s storage lot. Of
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Lecture notes chapter 4 Financial Forecasting Author's Overview Developing pro forma statements is a fairly involved process. However, the rewards to students are high in terms of understanding the interaction of accounting data and financial forecasting. The development of pro forma financial statements is an integrative exercise, so there is little reward for a halfway approach. The percent-of-sales method, presented at the back of the chapter, is a second
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