Explain in your own words why accountability is the cornerstone of all financial reporting in government.
What will be an ideal response?
Accountability is based on the belief that the citizenry has a "right to know" about public resources raised during a fiscal period and the purposes for which the resources were used. In a democratic society, public officials have an obligation to be accountable to the public.
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Allegheny Company ended Year 1 with balances in Accounts Receivable and Allowance for Doubtful Accounts of $68,000 and $3450, respectively. During Year 2, Allegheny wrote off $6300 of Uncollectible Accounts. Using the percent of receivables method, Allegheny estimates that the ending Allowance for Doubtful Accounts balance should be $5400. What amount will Allegheny report as Uncollectible Accounts Expense on its Year 2 income statement?
A. $1950 B. $5400 C. $6300 D. $8250
A ________ is an organized collection of comprehensive information about individual customers or prospects that is current, accessible, and actionable for lead generation, lead qualification, sale of a product or service, or maintenance of customer
relationships. A) customer database B) customer mailing list C) customer-performance scorecard D) customer profitability analysis E) customer-value hierarchy
Likert scales cannot measure attitudes and behavior.
Answer the following statement true (T) or false (F)
Standard Corporation has developed standard manufacturing overhead costs based on a capacity of 180,000 direct labor-hours (DLHs) as follows:Standard overhead costs per unit:Variable portion: 2 DLHs × $3 per DLH = $6Fixed portion: 2 DLHs × $5 per DLH = $10The following data pertain to operations in April: Actual output 80,000unitsActual direct labor cost$644,000 Actual direct labor-hours worked 165,000DLHsVariable overhead cost incurred$518,000 Fixed overhead cost incurred$860,000 The variable overhead efficiency variance for April was:
A. $23,000 Unfavorable B. $38,000 Unfavorable C. $15,000 Unfavorable D. $38,000 Favorable