Name two nondiscounting capital investment models. What is meant by "nondiscounting"?
Two commonly used nondiscounting models are the payback period and the accounting rate of return. Nondiscounting means that the cash inflows and outflows are not adjusted for the time value of money. As a result, a dollar to be received today is weighted the same as one to be received in a year.
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For each of the following specific audit procedures, indicate the type of audit evidence it is gathering: (1) inspection of records or documents, (2) inspection of tangible assets, (3) observation, (4) inquiry, (5) confirmation, (6) recalculation, (7) reperformance, (8) analytical procedures, and (9) scanning. The audit evidences can be used more than once.a. Discussing the recording of sales discounts in the fourth quarter with the accounts receivable manager.b. Examining sales invoices for supporting customer order and shipping documents.c. Reviewing the accounts payable subsidiary ledger for debit balances or interest bearing payables.d. Sending a written request to the entity's bank requesting the cash balances in the entity's accounts and any other liability balances that the entity
owes the bank.e. Comparing the current-year accounts receivable turnover with the accounts receivable turnover for the industry.f. Examining a new piece of equipment to ensure that a major acquisition was received and is operational.g. Watching the entity's accounting personnel while they prelist cash receipts.h. Footing the entity's bank reconciliation and tracing the balance per the books to the general ledger.i. Recomputing sales price and extensions on sales invoices.j. For a sample of sales transactions recorded in the sales journal, tracing the sales invoices back to customer orders and shipping documents. What will be an ideal response?
NIOSH conducts research to ____________ work-related illnesses and injuries.
A. increase B. remove C. reduce D. maintain E. document
An agent will not be authorized to act for a principal unless he receives some consideration for the task
a. True b. False Indicate whether the statement is true or false
Which of the following statements is (are) true regarding the Roth IRA? I. Roth IRA contributions are tax deductible. II. Roth IRA investment income accumulates income-tax free
A) I only B) II only C) both I and II D) neither I nor II