Which one of the following is not a background or qualification requirement for full-time IASB members?
A. Practical experience.
B. Sever relationship with former employers.
C. Cease holding positions which might call into question their independence.
D. Attain 10 years of auditing experience.
E. Professional competence.
Answer: D
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Which of the following is one of the customer-driven approaches to improving productivity?
a. Ask customers not to use third parties. b. Limiting customer involvement in production. c. Changing the timing of customer demand. d. Reducing backstage elements of production. e. Reducing front-stage elements of production.
What does wisdom mean according to Pitsis and Clegg (2007)?
a. Wisdom is knowing everything, and acting as such in the presence of others b. Wisdom is only achieved through ignorance and so one must avoid knowledge c. Wisdom is knowing that one never fully knows anything, and so one must constantly seek out knowledge d. Wisdom is gained only though aging and experience
Tanika must prepare a formal report detailing the findings of a year-long study of her company's new wellness program. In this report she must discuss employee absenteeism before and after the program's implementation. What type of organizational pattern will she likely use?
A) Chronological B) Spatial C) Compare/Contrast D) Importance
Dr. Magneto is evaluating whether to open a private MRI clinic in leased office space in a local strip mall. The clinic will run for two years and then close
Before the clinic opens, the offices require $200,000 of renovations. Dr. Magneto will buy $20,000 of computer equipment and one MRI machine. The MRI machine (GE 3.0T Signa Excite HD) costs $2.4M. Assume that the renovations, computer equipment and MRI are paid for at the beginning of the first year (t=0 ) and that all three are classified as 15-year property. Assume that the MRI machine will be sold for $500,000 at the end of the second year of business. The computer equipment will be worthless at that time. The clinic can perform 72 scans per week for 49 operational weeks per year. The clinic will charge $600 per scan. The clinic will need two technicians, two receptionists and one office manager. Wages, salaries and other payroll costs (i.e., health insurance premiums) will total $275,000 per year. Maintenance, supplies, marketing and operating costs for the machine are expected to be $200,000 per year. Annual rent is $60,000 payable at the end of each year. Assume that all revenues (and expenses) occur at the end of the year. The tax rate is 40% and Dr. Magneto's cost of capital is 10%. What are the operating cash flows at the end of Year 1? MACRS Depreciation Rates Year 10-Year 15-Year 1 10.00% 5.00% 2 18.00% 9.50% 3 14.40% 8.55% A) $997,080 B) $1,001,480 C) $1,037,480 D) $1,048,640 E) $1,053,880