Which item below lasts longer than emotions?
a. Emotions
b. Instinct
c. Mood
d. Affects
c. Mood
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Audit procedures Businesses often have litigation against them that the auditor has to identify and adequately disclose. List the financial assertions that apply to Contingencies. For each assertion indicate two or three audit procedures that would address that assertion. Organize you answer as follows: Financial statement assertion Audit procedure(s)
Discuss why it is important that your audience sees you have credible on your specific topic.
What will be an ideal response?
A salesperson who seeks possible buyers with a well-organized sales presentation designed to sell a good, service, or idea is called a(n)
A. gatekeeper. B. order getter. C. order taker. D. influencer. E. order generator.
Postage Corporation acquired 75 percent of Stamp Corporation's common stock on December 31, 20X8, for $300,000. The fair value of the noncontrolling interest at that date was determined to be $100,000. Stamp's balance sheet immediately before the combination reflected the following balances: Cash and Receivables$40,000 Inventory 70,000 Land 90,000 Buildings and Equipment (net) 250,000 Total Assets$450,000 Accounts Payable$30,000 Income Taxes Payable 40,000 Bonds Payable 100,000 Common Stock 100,000 Retained Earnings 180,000 Total Liabilities and Stockholders' Equity$450,000 A careful review of the fair value of Stamp's assets and liabilities indicated that inventory, land, and buildings and equipment (net) had fair values of $65,000, $100,000, and, $300,000
respectively. Goodwill is assigned proportionately to Postage and the noncontrolling shareholders.Based on the preceding information, what amount will be reported as investment in Stamp Corporation stock in the consolidated balance sheet immediately following the acquisition? A. $0 B. $400,000 C. $210,000 D. $300,000