Does your jurisdiction’s rules of lawyer conduct have a section for paralegals and/or legal assistants?
What will be an ideal response?
Many jurisdictions do have a section of what are usually labeled “guidelines” and
concern the use of legal assistants/paralegals. They are usually located at the end of the rules of conduct. The guidelines are not rules because the rules only apply to licensed attorneys of a given jurisdiction.
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Which of the following situations represents a risk factor that relates to misstatements arising from misappropriation of assets?
a. A high turnover of senior management. b. A lack of independent checks. c. A strained relationship between management and the predecessor auditor. d. An inability to generate cash flow from operations.
Define and explain when one would use the two main bargaining strategies discussed in the textbook.
What will be an ideal response?
Accommodating religious beliefs is required unless it presents an undue burden to the employer
Indicate whether the statement is true or false
Kita Corporation manufactures one product. It does not maintain any beginning or ending Work in Process inventories. The company uses a standard cost system in which inventories are recorded at their standard costs. There is no variable manufacturing overhead. The standard cost card for the company's only product is as follows:InputsStandard Quantityor HoursStandard Price or RateStandard CostDirect materials3.3pounds$7.50per pounds$24.75Direct labor0.80hours$20.50per hour 16.40Fixed manufacturing overhead0.80hours$18.50per hour 14.80Total standard cost per unit $55.95During the year, the company assigned direct labor costs to work in process. The direct labor workers (who were paid in cash) worked 24,820 hours at an average cost of $21.20 per hour.Assume that all transactions
are recorded on the below worksheet, which is similar to the worksheet shown in your text except that it has been divided into two parts so that it fits on one page. The beginning balances in each of the accounts have been given. PP&E (net) stands for Property, Plant, and Equipment net of depreciation.?CashRaw MaterialsWork in ProcessFinished GoodsPP&E (net)?1/1$1,100,000$49,500$0$50,355$559,900=?Materials Price VarianceMaterials Quantity VarianceLabor Rate VarianceLabor Efficiency VarianceFOH Budget VarianceFOH Volume VarianceRetained Earnings1/1$0$0$0$0$0$0$1,759,755When recording the direct labor costs, the Work in Process inventory account will increase (decrease) by: A. ($514,960) B. ($526,184) C. $514,960 D. $526,184