Samantha is an accountant. Theo is an attorney. Which professional is most restricted from disclosing her or his client's communication?
What will be an ideal response?
Most professionals are restrained by the ethical tenets of their professions from disclosing communications with their clients. In some instances, professional-client communications are even privileged under state and federal law. Of the two professionals named in this question, the attorney is the most restricted professional. Without a client's permission, an attorney cannot disclose the client's communication. Disclosure is prohibited under federal law, state law, and the ethical tenets of the legal profession.
In a few states, accountant-client communications may not be revealed even in court without the client's permission. But these communications are not protected¾and state-provided rights are not recognized¾under federal law. In cases involving federal law, in response to a court order, an accountant must provide the information sought.
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Sawaddee Enterprises began the year with total assets of $450,000 and total liabilities of $230,000 . If Sawaddee total liabilities increased by $31,000 and its owners' equity decreased by $53,000 during the year, what was the amount of its total assets at the end of the year?
a. $472,000 b. $242,000 c. $198,000 d. $428,000
The major advantage of survey research is its flexibility
Indicate whether the statement is true or false
What processes should be used when checking social-networking sites for hiring purposes?
What will be an ideal response?
Tastee Mart sells Frostee Flakes. Demand for Frostee Flakes is 500 boxes per week. Tastee Mart has a holding cost of 30 percent and incurs a fixed cost of $100 for each replenishment order it places for Frostee Flakes
Given that cost is $2 per box of Frostee Flakes, how much should Tastee Mart order in each replenishment lot? If a trade promotion lowers the price of Frostee Flakes to $1.80 for a month, how much should Tastee Mart order given the short-term price reduction? What will be an ideal response?