With respect to the process of assigning the cost of postretirement benefits to periods of employee service, attribution period ends at
A) the expected retirement date.
B) the actual retirement date.
C) the full eligibility date.
D) either a or b.
C
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Intrepid Creations is a product design institute which provides educational courses in package design. It manages to acquire the right to use simulation software from Marco Software for a payment of $2,000 a year
There is no clause of expiration on this arrangement and the right to access the software is renewed annually. Which of the following kinds of business arrangements does the aforementioned scenario indicate? A) a licensing arrangement B) a general partnership C) a limited partnership D) a franchise
A company reported $960,000 in net income for the current year. Total weighted-average common shares outstanding are 150,000 shares, and the year-end market price is $67.20 per common share. Calculate the company's price earnings ratio.
What will be an ideal response?
Pepper Corp. produces three products, and currently has a shortage of machine hours since one of its two machines is down. The selling price, costs, and machine time requirements of the three products are as follows: Product A Product B Product CSelling price$5.00 $3.00 $5.00Variable cost per unit$3.50 $2.00 $2.00Machine hours per unit 0.75 0.25 1In what order should Pepper Corp. prioritize production of its products to maximize profit while the machine is down?
A. C, B, A B. B, C, A C. C, A, B D. A, B, C
Based on the information presented in the case, do you believe Grant Thornton failed in its responsibilities to provide reasonable assurance that Koss Inc.’s financial statements were presented fairly in all materials respects? Justify your answer using specific arguments and examples.
What will be an ideal response?