Assume Harley-Davidson asks your CPA firm about the SOC 2 service that your firm can provide. Write a brief memo to Gerry Berryman, Vice president of Materials Management, detailing the potential benefits of a SOC 2 report for Harley-Davidson. Include in the memo an explanation regarding why this service would be beneficial in the context of Harley-Davidson’s supply chain management system. Be
sure to explain to Mr. Berryman the nature of the SOC 2 service and why you are recommending it for Harley- Davidson.
What will be an ideal response?
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On January 1, Five Star Services has the following balances:
Accounts Receivable $26,000 (debit) Bad Debts Expense $0 Five Star Services has the following transactions during January: Credit sales of $100,000, collections of credit sales of $87,000, and write-offs of $18,000. Five Star Services uses the direct write-off method. At the end of January, the balance of Accounts Receivable is ________. A) $15,660 B) $21,000 C) $20,690 D) $39,000
The chart of accounts classify the accounts to make identification of the accounts easier. This is done by way of assigning a number to each account. The first number identifies the classification of the type of account. Which of the following indicates the use of this classification?
A) 1-Assets, 2-Liabilities, 3-Owner's Equity, 4-Expenses, 5-Revenues B) 1-Assets, 2-Liabilities, 3-Owner's Equity, 4-Revenues, 5-Expenses C) 1-Assets, 2-Owner's Equity, 3-Revenues, 4-Expenses, 5-Drawing D) 1-Owner's Equity, 2-Drawing, 3-Revenues, 4-Expenses
The question of whether or not parents should be held responsible for damages for negligence in parenting their children who commit crimes and torts raises the negligence issue of causation called_________
Fill in the blank(s) with correct word
A=The amount of tangible assets contributed by the new partner into the partnershipB=The amount of capital credited to the new partnerC=Total capital of the partnership before the admission of a new partnerD=Total capital of the partnership after the admission of a new partnerRefer to the above information. Which statement below is correct if a new partner's goodwill is recognized upon contributing assets into the partnership?
A. B = A and D > C + A B. B > A and D > C + A C. B < A and D < C + A D. B > A and D = C + A