Describe the European Union Emissions Trading System to combat climate change
What will be an ideal response?
The system works on the "cap-and-trade" principle. This means that there is a cap, or limit, on the total amount of certain greenhouse gases that can be emitted by factories, power plants, and airlines in EU airspace. Within this cap, companies receive emission allowances, which they can sell to, or buy from, one another as needed.
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Recording an expense to conceal fraud involves making a fictitious journal entry. A faulty journal entry is an example of which fraud symptom?
a. Accounting anomaly b. Internal control weakness c. Unusual behavior d. Analytical anomaly
In a statement of cash flows, if equipment is sold at a gain, the amount shown as a cash inflow from investing activities equals the carrying amount of the equipment
a. with no addition or subtraction. b. plus the gain and less the amount of tax attributable to the gain. c. plus the gain only. d. plus both the gain and the amount of tax attributable to the gain.
In a survey conducted by Brodbeck and his associates, which of the following culture clusters produces leaders who rate performance orientation as the most important leadership attribute?
A. Latin B. Anglo C. Nordic D. Germanic
In August, one of the processing departments at Khatak Corporation had beginning work in process inventory of $34,000 and ending work in process inventory of $30,000. During the month, the cost of units transferred out from the department was $374,000. Required:Construct a cost reconciliation report for the department for the month of August.
What will be an ideal response?