Discuss why adherence by the accounting profession to a single, GAAP-based view is inappropriate
Modern managers need both financial and non-financial information in formats and at levels of aggregation that the traditional GAAP-based accounting systems architecture is generally incapable of providing. Information customers have shown quite clearly that they are willing to obtain the information they require elsewhere. The result has been a growing perception that accounting information is not as useful as it once was.
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Howard Enterprises has a contribution margin ratio of 65% and fixed costs of $15,000. What would sales have to be in order for Howard to earn an after-tax profit of $50,000? The company is in the 40% tax bracket
A) $23,077 B) $100,000 C) $151,282 D) $75,000
When thinking about attitudes, it is important to remember that
a. only you control what you think. b. attitudes can and do change over time. c. your attitude affects others. d. all of these choices.
The court in the Schoenberger v. Chicago Transit Authority case held that:
a. the actual authority of an agent may be founded on the acts or words of the agent. b. implied authority is such authority as the principal knowingly permits the agent to assume. c. actual authority is such authority as a reasonable, prudent person, exercising diligence and discretion, in view of the principal's conduct, would naturally suppose the agent to possess. d. ZuChristian had neither actual nor apparent authority to make an offer of a specific salary or to make a promise of additional compensation.
The error of rejecting a true null hypothesis is
A. a Type I error. B. a Type II error. C. always negligible in hypothesis testing. D. never committed in hypothesis testing.