Debate Ethical Dilemma/Boom in Busts: Good or
Bad?
Discuss the pros and cons of bankruptcy legislation issues. What
do you think about the prospects of changing bankruptcy laws? Do we
let bankrupt debtors walk away or punish them
What are the pros and cons of price gouging?
From an economic point of view, what is the role of price
gouging in markets?
Are there instances in which price gouging is an acceptable
practice?
Why or why wouldn't price ceilings work in situations of
natural disasters?
What are the pros and cons of extending
credit?
Define net realizable value.
Bad debt expense should be recorded in same period
as the sale to avoid violating the expense recognition (matching)
principle. Under the allowance method an estimate of the bad debts
are recorded and later adjusted. Describe the following two
steps of the allowance method and provide the required journal
entries.
Adjust for estimated bad debts
Remove (write off) specific customer
balances
Small companies are allowed to use...
Explain the reality of a “multi-speed Europe”. What are economic
pros and cons of a deeper fiscal and monetary integration, on the
one hand, and a “multi-tiered” economy, on the other
hand.