Monopolistically competitive and perfectly competitive firms are different because the former Answer

Monopolistically competitive and perfectly competitive firms are different because the former: A. can have positive economic profits in the short run, whereas the latter cannot. B. can have negative economic profits in the short run, whereas the latter cannot. C. has economic profits of zero in the long run, whereas the latter has positive or […]

Read More »

Forrester and Cohen is a small accounting firm, managed by Joseph Cohen since the retirement in December of his partner Brad Forrester Answer

Forrester and Cohen is a small accounting firm, managed by Joseph Cohen since the retirement in December of his partner Brad Forrester. Cohen and his 3 CPAs can together bill 640 hours per month. When Cohen or another accountant bills more than 160 hours per month, he or she gets an additional “overtime” pay of […]

Read More »

List and explain the three strategies for increasing trustworthiness in qualitative designs Answer

List and explain the three strategies for increasing trustworthiness in qualitative designs. How are these strategies both similar and dissimilar with internal and external validity?   Three strategies for increasing trustworthiness in qualitative designs are: Prolonged engagement – Qualitative researchers can increase the trustworthiness by prolonging the engagement between the researcher and the informants or […]

Read More »

What tax years are available to corporations? How do the options differ from other forms of business organizations Answer

What tax years are available to corporations? How do the options differ from other forms of business organizations? Upon establishing a new corporation, the corporation may choose either a calendar year or a fiscal year. They may choose either of the two regardless of the tax years of its owners which creates tax savings. This […]

Read More »

The Agile Software Development anarchists value Answer

Question: The Agile Software Development anarchists value: contract negotiation over customer collaboration. processes and tools over individuals and interactions. following a plan over responding to change. working software over comprehensive documentation.    joint application development over rapid application design.   Answer: The correct answer is – working software over comprehensive documentation.   

Read More »

Discuss the various FASB rulings associated with retiree health insurance Answer

Discuss the various FASB rulings associated with retiree health insurance. Financial Accounting Standards Board (FASB), a nonprofit company responsible for improving standards of financial accounting and reporting in companies, implemented FASB 106 in 1990 and FASB 158 in 2005. FASB 106 is a rule that changed the method of how companies recognize the costs of […]

Read More »

Why do auditors have to consider the internal controls of the organization? What are some key elements of internal control Answer

Why do auditors have to consider the internal controls of the organization? What are some key elements of internal control? Which are the most important? How will the auditor have to modify the audit program if the internal controls are deemed inadequate to support management assertions?   The control environment represents the tone set by […]

Read More »