Please answer below two question in your own words and in brief

The following passage summarizes some of the central points in the debate as to the value of corporations to devote significant resources to corporate social responsibility:

Stakeholders Versus Shareholders

Although corporate social responsibility may appear to be an “apple-pie virtue,” it is quite controversial. Below are some of the chief arguments for and against it:

Proponents will claim that it…

• BURNISHES A COMPANY’S REPUTATION. In the wake of corporate scandals, corporate social responsibility builds goodwill—and can pay off when scandals or regulatory scrutiny inevitably arise.
• ATTRACTS TALENT. Many young professionals expect their employers to be active in social issues. Membership in Netimpact.org, a network of socially-conscious MBA graduates, jumped from 4,000 in 2002 to 10,000 in 2004.

On the other hand, Detractors will argue that it…

• COSTS TOO MUCH. Giving by corporate foundations reached an all-time high of $3.6 billion last year. However, it can come at the expense of other priorities, such as research and development, and is rarely valued by Wall Street.
• IS MISGUIDED. Many corporate executives believe, as economist Milton Friedman does, that the role of business is to generate profits for shareholders—not to spend others’ money for some perceived social benefit.

1. What is your view on this issue? Would that view be different if you were a stockholder of a firm?
2. Do you know of any companies that have engaged in Socially Responsible behavior? Please explain, Please use an example.)

distinguish between the roles of an internal and an external auditors

What is involved in job costing? (Hints: You may need to consider, but not be limited to: (a) the definition of job costing, (b) the purposes of job costing, (c) the basic documents used in the job costing system, (d) the major functions of job costing system, and (e) the fundamental components of job costing.)

The Terrapin manufacturing Company has the following job cost sheets on file. They represent jobs that have been worked on during June ofthe current year. This table summarizes information provided on each sheet:

Questions:

1. What is the cost of the goods in process inventory on June30?
2. What is the cost of the finished goods inventory on June30?
3. What is the cost of goods sold for the month of June?

The following data were taken from the books of Powell Construction Ltd:

REQUIRED:

Prepare in the general ledger of Powell Construction Ltd for the month of August 2020:

a.       the Sales Ledger Control Account            (15 marks)

b.      Purchases Ledger Control Account            

Total 25 marks

Auditors have assessed inherent risk for a particular assertion at 80% and control risk at 5%. In addition they have performed audit procedures that they believe have a 25% risk of failing to detect a material misstatement in the assertion. Calculate the audit risk and explain what the audit risk means

Melanie is employed full-time as an accountant for a national hardware chain. She also has recently started a private consulting practice, which provides tax advice and financial planning to the general public. For this purpose, she maintains an office in her home. Expenses relating to her home for 2020 are as follows:

Melanie's residence cost $397,000 (excluding land) and has living space of 2,000 square feet, of which 35% (700 square feet) is devoted to business. The office was placed in service in February 2019, and under the Regular Method, Melanie had an unused office in the home deduction of $300 for 2019. Assume there is sufficient net income from her consulting practice.

Click here to access the depreciation table to use for this problem. Round your final answer to nearest dollar.

a. What amount can Melanie claim this year for her office in the home deduction under the Regular Method?
$fill in the blank f953e6faefc3fa1_1

b. What is Melanie's office in the home deduction under the Simplified Method?
$fill in the blank e9035cf27fa504b_1

Explain the amortization of a bond premium. Identify and describe the amortization methods available

According to Chapter 16, how many sections the Statements of Cash Flows? Give a brief description of these.

Benson Brands, Inc. Benson, presents its statement of cash flows using the indirect method. The following accounts and corresponding balances were drawn from Benson’s 2017 and 2016 year-end balance sheets:

The 2017 income statement is shown below:

Required

1. Prepare the operating activities section of the statement of cash flows using the direct method.

2. Prepare the operating activities section of the statement of cash flows using the indirect method.

Prepare the operating activities section of the statement of cash flows using the direct method. (Cash outflows should be indicated with minus sign.)

Prepare the operating activities section of the statement of cash flows using the indirect method. (Amounts to be deducted should be indicated with a minus sign.)

Troy Engines, Ltd., manufactures a variety of engines for use in heavy equipment. The company has always produced all of the necessary parts for its engines, including all of the carburetors. An outside supplier has offered to sell one type of carburetor to Troy Engines, Ltd., for a cost of $35 per unit. To evaluate this offer, Troy Engines, Ltd., has gathered the following information relating to its own cost of producing the carburetor internally:

*One-third supervisory salaries; two-thirds depreciation of special equipment (no resale value).

Required:

1. Assuming the company has no alternative use for the facilities that are now being used to produce the carburetors, what would be the financial advantage (disadvantage) of buying 20,000 carburetors from the outside supplier?

2. Should the outside supplier’s offer be accepted?

3. Suppose that if the carburetors were purchased, Troy Engines, Ltd., could use the freed capacity to launch a new product. The segment margin of the new product would be $200,000 per year. Given this new assumption, what would be the financial advantage (disadvantage) of buying 20,000 carburetors from the outside supplier?

4. Given the new assumption in requirement 3, should the outside supplier’s offer be accepted?

The following data are accumulated by Geddes Company in evaluating the purchase of $92,700 of equipment, having a four-year useful life:

a. Assuming that the desired rate of return is 10%, determine the net present value for the proposal. Use the table of the present value of $1 presented above. If required, round to the nearest dollar.

When the American system was being created, the office of the President was not the center and most important role (if anything was, on the federal level, it as Congress). Now, however, the POTUS occupies the center of American governance, attention (think about voting behavior), and politics. Why do you think that is? Why do you think the presidency has grown to the role in now plays in American politics?

CLASS- POLI 1