In which of the following cases will the federal accountant-client privilege protect the information from being disclosed?
A. a criminal case
B. a case involving the SEC
C. a case concerning the preparation of tax returns
D. a civil case involving the IRS
Answer: D
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Which of the following is an example of a bridging statement?
A) One critical thing to remember is that the firm supports environmental efforts. B) It is important that you keep in mind how many community events our firm sponsors. C) I'm afraid I have no comment on that question due to the advice of our firm's attorneys. D) Attorneys have advised that I not speak about this issue, but I will let you known when I can. E) That's a great question, but what you really need to focus on is the financial strength of the firm.
Government-wide statements use the:
A. economic resources measurement focus and modified accrual basis of accounting. B. economic resources measurement focus and accrual basis of accounting. C. current financial resources measurement focus and accrual basis of accounting. D. none of the choices is correct.
Fredin Incorporated makes a single product-an electrical motor used in many long-haul trucks. The company has a standard cost system in which it applies overhead to this product based on the standard labor-hours allowed for the actual output of the period. Data concerning the most recent year appear below: Budgeted (Planned) Overhead: Budgeted variable manufacturing overhead$80,400 Budgeted fixed manufacturing overhead 185,700 Total budgeted manufacturing overhead $ 266,100 Budgeted production (a) 15,000unitsStandard hours per unit (b) 2.00labor-hoursBudgeted hours (a) × (b) 30,000labor-hoursThe predetermined overhead rate is closest to:
A. $22.76 per labor-hour B. $8.87 per labor-hour C. $11.38 per labor-hour D. $17.74 per labor-hour
Pete negotiates a deal for the sale of certain real estate to Owen. Pete promises to hold the offer open in return for a small payment but does not state an exact period of time. With respect to this offer A) the deal is binding except for Pete's promise to hold the offer open
B) a reasonable period of time is implied. C) Pete must hold the offer open for an indefinite period. D) ?the deal is done.