Accounting for Merchandising
1. Gordon the CPA says, “I am unable to give an opinion about the validity of this accounting information.” What kind of opinion is this? A. Qualified B. Unqualified C. Disclaimer D. Adverse 2. A new car lot would probably cost its inventory using the _______ method of inventory costing. A. FIFO B. specific-identification C. moving average D. LIFO 3. In order to pay the least income tax possible in periods of constant costs, the company should use which of the following inventory costing methods? A. LIFO B. FIFO C. Average cost D. Any method, as there is no effect on net income or taxes for the period if costs are constant. 4. If the replacement cost of inventory is less than its historical cost, the company will write down the inventory by A. increasing inventory for replacement cost and decreasing inventory for historical cost. B. increasing cost of goods sold and decreasing inventory. C. increasing inventory and decreasing cost of goods sold. D. making a note in the financial statements only. 5. Michelle, a customer of Regal Company, returned $45 of goods that were purchased on account. Under the perpetual inventory system, Regal will record a debit to _______ and a credit to _______ for $45. A. Sales; Accounts Receivable (Michelle) B. Cost of Goods Sold; Inventory C. Sales Returns and Allowances; Accounts Receivable (Michelle) D. Sales; Cost of Goods Sold 6. Give the correct example of a kickback. A. Marcy understates her company’s unearned revenue in order to make the total revenue look more impressive. B. A customer buys a DVD player, but Courtney does not record the transaction. Later, Courtney keeps the money for herself. C. Ben gives his hardware salesman tickets to the football game. In exchange, the salesman gives Ben an unfairly low price on hardware. D. Wyatt ate only cheap sandwiches during his business trip, but he claimed over $100 in food expenses to his company. 7. Beginning inventory plus net purchases equals A. gross profit. B. ending inventory. C. cost of goods available for sale. D. cost of goods sold. 8. _______ occurs if a disgruntled employee convinces another to steal from the company. A. The control environment B. Monitoring C. A control activity D. Collusion 9. As it relates to accounting fraud, which of the following best describes perceived pressure? A. The opportunity to commit and conceal fraud B. An employee’s justification of his or her actions C. Intentional misrepresentation of financial statements D. A need to obtain cash or other assets 10. Olympic Enterprises has the following inventory data: Assuming FIFO, what is the cost of goods sold for June 14? Date Quantity Unit Cost June 1 Beginning inventory 5 $52 June 4 Purchase 10 $55 June 7 Sale 12 June 11 Purchase 9 $58 June 14 Sale 8 A. $440 B. $464 C. $455 D. $456 11. If net sales decrease and cost of goods sold increases, the gross profit percentage A. decreases. B. increases. C. remains the same. D. will change based upon the change in total assets. 12. In the United States, GAAP’s overriding principles of accounting are written by the A. IRS. B. SEC. C. IASB. D. FASB. 13. A company has net sales of $126,000, cost of goods sold of $72,000, operating expenses of $38,000, and other expenses of $3,000. The company’s net income is A. $51,000. B. $54,000. C. $16,000. D. $13,000. 14. The major difference in the statement of retained earnings between a service business and a merchandising business is A. that the retained earnings statement of a merchandising business includes Dividends. B. that the retained earnings statement of a merchandising business shows the Cost of Goods Sold. C. that the retained earnings statement of a service business includes Dividends. D. nothing. There are no differences between the two. 15. Land is an example of a A. current asset. B. long-term asset. C. current liability. D. long-term liability. 16. A/An _______ is used to determine the amount of inventory actually on hand at the end of the accounting period. A. physical inventory count B. inventory layer C. inventory shrinkage D. footnote 17. If a misstatement of inventory occurs, the net income for _______ periods will be misstated. A. 0 B. 2 C. 1 D. 3 End of exam 18. Cash register schemes are a form of A. employee embezzlement. B. fraudulent financial reporting. C. management fraud. D. bribery. 19. Which type of audit opinion is also referred to as a clean opinion? A. Adverse B. Unqualified C. Disclaimer D. Qualified 20. Which of the following is not part of the fraud triangle? A. Perceived pressure B. Realization C. Rationalization D. Perceived opportunity
Research
Find at least three related articles and/or research/statistical reports on the current trends in Health Care Market in USA.
Use the FNU-Electronic databases and external sources like www.ceoexpress.com (not limited to) to find the material needed above. Craft a “report” based on the findings after studying the materials and arriving to conclusions from their content. Do not make comments/descriptions separately by articles; make comments based on the interpretation from the material; use tables, figures, etc. if needed to illustrate your rationale. So, the material to be used must be all-related. The submittal must follow the APA style requirements, and must be more than four pages long.
Submission Requirements:
1. Written answer of 100 words or more in APA style for all the questions, so ample explanations in your own words based on your rationale and experience are needed to get an “A”
Financial Review Project
Select one of the following companies, and use yahoo finance (or an alternate similar source) to locate and review the balance sheet, income statement and statement of cash flows from the past fiscal reporting year. This assignment should be prepared professionally and formatted well, and include proper citations for sources used.
•CHIPOTLE
•FACEBOOK
1.Using the financial statement information, calculate the following ratios for the prior two fiscal years. You must show the formula and the input data. Then, explain what the ratios may indicate for the company in 2-3 sentences for each one (be as specific as possible, and include chapter concepts such as liquidity, etc.).
*Current Ratio
*Inventory Turnover
*Days in Receivables
*Total Debt to Total Equity Ratio
*Net Profit Margin
*ROE
*EPS (do not calculate this one – research it online in the financials)
2.Select any two of above ratios, research the industry averages and compare it to your company. Show this comparison in a chart or graph. Explain what additional observations can be made based on this information for your company in 3-4 sentences per ratio.
3.Explain what other information you would want to have in order to make a better decision on the overall health of your company. You should include at least one additional ratio, and then 2 other quantitative or qualitative aspects for the business.
Leadership
Today there is probably no topic more important to business success than leadership. Leadership occurs between people, involves the use of influence, and is used to attain goals. Influence means that the leadership relationship among people is not passive. As previously defined, leadership is the ability to influence people toward goal attainment. To develop leadership abilities, one must study theory, along with various leadership models, and incorporate both the theory and model into their own organizational situation.
Include the following:
- Suggest some leadership traits (sit-lead, servant, or trait) that you believe would be useful to a business leader today.
- Are these qualities more valuable in some situations than in others? Explain and provide an example of where these qualities are valuable.
- Explain which of the three models covered (sit-lead, servant, or trait) align with the traits you selected.
Also include how the three models serve as a foundation for understanding leadership qualities and skills as a whole.
nursing essay
A hospital marketing director at a very large hospital in an urban setting has several research projects to undertake this quarter. The hospital is continuing to expand its offerings in the metropolitan area and ensure a strong relationship with the top physicians in the community.
The 3 current projects that he is currently researching include the following:
The hospital urology department wants to establish a sexual dysfunction clinic. The department head wants to get an estimate of the number of men ages 35 to 60 in the community suffering with some form of sexual dysfunction.
A primary care medical group is trying to determine whether patients are being greeted and serviced appropriately by the billing and admitting departments.
An MCO is trying to determine what concerns physicians have in agreeing to become part of its panel of physicians who will treat its subscribers.
He has asked you to assist by developing a report analyzing how each of these 3 projects would help the hospital improve its relationship with the public. Given that the projects would be presented to the hospital’s Board of Trustees, the marketing director indicated that your report needs to include a critique of current literature (scholarly references) to support a position on each.
The body of the resultant report should be 5-7 pages and include at least 5 relevant peer-reviewed academic or professional references published within the past 5 years.
Questions
1. Carefully define the terms ‘science’ and ‘pseudoscience’. Thoroughly explain the difference between them and provide your references.
Also, give at least one example of what counts as science, and of what counts as pseudoscience. Explain how you can tell the difference. How do we know when a claim counts a pseudoscience? How can you tell that a claim is truly a scientific claim?
2. Imagine you go to a job interview. Here is the question you need to answer to: Describe a specific example in which you utilized problem solving strategies to resolve a problem in the real world. Make sure to carefully explain what specific problem solving strategies you have used. Provide your references.
3. What is political correctness? How is it defined? What’s its goal? How does it illustrate the power of language? Do research – look for reliable scholarly sources to find a good definition; explain the term also in your own words, and provide an example.
Critically discuss the question: Is political correctness a good idea?
There are obviously two possible answers to this question. Present those two answers, and try to provide the strongest argument you can think of in support of BOTH sides (you’ll need one argument for each side). Then tell us which side you think is stronger and why.
You may want to consider the following additional questions: Does political correctness violate freedom of speech? (Please don’t forget to define the term ‘freedom of speech’ – what is it, what is its goal, where did it originate? Provide your references.)
When you create your arguments, clearly indicate the conclusion and the premises of the arguments. Use concrete examples to illustrate your point.
M&P Assignment
Write a two to three (2-3) page paper in which you:
- Compare the difference between job satisfaction and organizational commitment. Determine which is more strongly related to performance for your selected company.
- Apply motivational theory and performance management principles to evaluate the company as a potential employer.
- Use at least three (3) quality references. Note: Wikipedia and other Websites do not quality as academic resources.
- Your assignment must follow these formatting requirements:
- Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format.
- Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.
Social Change Implication
To prepare for this Discussion, think about how your dissertation has social change implications. Clearly state the social change implications in your dissertation, as well as your abstract
Post- provides your definition of social change and the social change implications of your research. Describe your experiences with completing this stage of the process, highlighting any barriers or challenges. You may want to also provide guidance to each other’s posts as well.
Post whether you met the goals that you set for yourself in the beginning of the quarter and whether your expectations differed from reality. If you have met your goals, explain how. Provide an effective tip or strategy can you share with your peers to help them complete their dissertations. Identify any specific barriers or challenges that you encountered. Explain how they were resolved.
Post what you accomplish this week and post any questions, comments, or concerns
Policy Briefing Memo
The subject is: THE IMPACT OF US NAVAL POWER ON THE SOUTH CHINA SEA
The bоok: THE NEXT 100 HUNDRED YEARS bу George Friedmаn
You will write а Policy Briefing Memo thаt is a summary and analysis of facts pertaining to an issue and includes a suggested course of action. You will select your topic from the Friedman book. The paper will consist of a statement and information as outlined in the list below. The intent of this memo is to inform another individual who may have solicited assistance to study and make recommendations on a particular matter.
For example, a legislative aide may provide a briefing paper to a congressman or senator for a committee meeting. As the term suggests, briefing papers are short and succinct. Usually written in outline format, a briefing paper must be 2 pages. Your briefing paper must: provide a summary of an issue; explain a situation that needs correcting; identify any political, cultural, social, and/or financial implications; and recommend a course of action including arguments for and against the suggested action. It must also be typed, use 12-point Times New Roman font, be double-spaced, and use 1-inch margins.
Components of a typical briefing paper:
• Name: A note to identify to whom the briefing paper is intended.
• Date: The date of preparation of the briefing paper.
• Subject: The topic or issue of the briefing paper.
• Background: A summary of past and/or current events that provide a context for the topic or issue, including any policies or past practices.
• Analysis: Identification of significant aspects of the topic or issue, the options or courses of action that should be considered (including details about the advantages and disadvantages of each), and actions currently taken or recommended to address the issue.
• Cautionary Notes: Any sensitive aspects of the topic or issue that may affect a person or an organization in a negative way.
• Contact: The name and contact information of the writer of the briefing paper.
The Policy Briefing Memo must be written following current Turabian format, include 5–6 references to the book, and communicate at least 7 connections to a geopolitical framework. See the rubric for specific guidelines and grading procedures.