The overall benefits of administrative regulations often exceed their costs
Indicate whether the statement is true or false
True
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Graham knew he failed his staff and he wanted to regain their trust after the conflict. What is a simple positive step Graham could do?
A. Avoid talking with his staff for at least a week to avoid any awkward moments. B. Keep on as usual and never acknowledge that the conflict happened. C. Present a strategic vision to help people buy-in to his leadership. D. Offer a genuine apology and acknowledge his personal commitment to growth.
Indicate how each event affects the elements of the financial statements. Use the following letters to record your answer in the box shown below each element. You do not need to enter amounts. Increase = IDecrease = DNo Effect = NA(Note that "No Effect" means that the event either does not affect the element of the financial statements or that the event causes an increase in that element and is offset by a decrease in that same element.) On April 1, Year 2, Jenkins Company repaid a $20,000, one-year, 6% note and interest to Community Bank. Interest on the note had been accrued on December 31, Year 1.AssetsLiabilitiesStk. EquityRevenuesExpensesNetStmt. of ?IncomeCash Flows???????
What will be an ideal response?
As part of its uncertain tax position assessment, Madison Corporation records interest and penalties related to its unrecognized tax benefits of $1,000,000. Which of the following statements about recording this amount is most correct?
A. Madison does not record the expense until it is paid. B. Madison must record the expense in its income tax provision. C. Madison must record the expense separate from its income tax provision. D. Madison can elect to include the expense as part of its income tax provision or record the expense separate from its income tax provision, provided the company discloses which option it chose.
Deferred Revenue, which represents the company's obligation to honor gift cards previously issued to customers, totaled $6,600 at the beginning of the year and $9,000 at the end of the year. Customers purchased gift cards amounting to $50,400 during the year. What was the amount of gift cards redeemed by customers during the year?
A. $34,800 B. $48,000 C. $66,000 D. $52,800