Summarize the professional competence and due care rules of the various codes of conduct.
What will be an ideal response?
Professional competence: Undertake only those professional services that the member or the member's
firm can reasonably expect to be completed with professional competence.
Due professional care: Exercise due professional care in the performance of professional services.
Planning and supervision: Adequately plan and supervise the performance of professional services.
Sufficient relevant data: Obtain sufficient relevant data to afford a reasonable basis for conclusions or
recommendations in relation to any professional services performed.
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Which of the following is a type of qualitative research?
A) phenomenological research B) descriptive research C) scientific research D) behavioral research
The goal of reengineering is to gain small incremental cost savings.
Answer the following statement true (T) or false (F)
On December 10 of the current year, XTREME Sports Inc receives an advance of $50,000 from a hockey team for 20,000 custom-made shirts with the team's logo, which the team intends to distribute to fans entering a hockey game during the first week in January. XTREME Sports Inc completes the manufacturing of the shirts on December 30, intending to ship them on December 31 before its accounting
period ends. Unfortunately, a snowstorm on December 31 prevented their shipment. XTREME Sports Inc recorded this transaction as a sale for December, and reduced its inventory accordingly. It set the items aside in its shipping room on December 31 with a clear sign to its own personnel conducting a physical inventory on that date and to its auditors who were observing the count that the items were not to be counted as inventory. These actions a. are in accordance with U.S. GAAP. b. are in accordance with IFRS. c. violate ethical principles. d. are in accordance with U.S. GAAP, but not IFRS. e. are in accordance with IFRS, but not U.S. GAAP.
If the standard deviation is 6.5, the Z value is 1.5, and the expected date of completion is 15 weeks, then the due date for project completion is ______.
a. 24.75 weeks b. 22.75 weeks c. 29.75 weeks d. 14.75 weeks