In your facility, what department is responsible for each part of the revenue cycle? (use any facility like an example, or your working are)

How do they interact to complete the process?

Question 6

Donald Trump and Boris Johnson are discussing the audit program for the revenue account. Donald and Boris disagree about whether they should use procedure A or B below to test the occurrence assertion for the revenue account:

A. Select a sample of sales from the sales journal and agree the details in the journal to the sales invoices, delivery dockets and customer orders.

B. Select a sample of sales invoices, delivery dockets and customer orders and agree the details to the details recorded in the sales journal.

Required

Which test provides evidence about the occurrence assertion? Why? Which assertion does the other test provide evidence about?

d) In line with best practices, the Ghana Revenue Authority is mandated to encourage voluntary tax
compliance to shore up revenue. This, among others includes responding to taxpayers’ requests
promptly.
Required:
Present a report to client explaining to him/her the term class ruling and its relevance.

Struggling with the following question

"Profit maximisation does not necessarily imply revenue maximisation. Discuss

with the aid of a well labelled diagram?"

they are asking for around 400 words

1. What is the easiest asset to convert into cash and explain why?

2. Revenue generating assets can also be linked to debt. What is the maximum a company can be financed at?

Which of the following is an input method for recognizing revenue over time?

a.

units-produced method

b.

milestones-reached method

c.

cost-to-cost method

d.

results-achieved method

Forecasting labour costs is a key aspect of hotel revenue management that enables hoteliers to appropriately allocate hotel resources and fix pricing strategies. Mary, the President of Hellenic Hoteliers Federation (HHF) is interested in investigating how labour costs (variable L_COST) relate to the number of rooms in a hotel (variable Total_Rooms). Suppose that HHF has hired you as a business analyst to develop a linear model to predict hotel labour costs based on the total number of rooms per hotel using the data provided.

3.1 Use the least squares method to estimate the regression coefficients b0 and b1

3.2 State the regression equation

3.3 Plot on the same graph, the scatter diagram and the regression line

3.4 Give the interpretation of the regression coefficients b0 and b1 as well as the result of the t-test on the individual variables (assume a significance level of 5%)

3.5 Determine the correlation coefficient of the two variables and provide an interpretation of its meaning in the context of this problem 3.6 Check statistically, at the 0.05 level of significance whether there is any evidence of a linear relationship between labour cost and total number of rooms per hotel

I need only the 3.4 and 3.5 questions.

Total_Rooms   L_COST
412   2.165.000
313   2.214.985
265   1.393.550
204   2.460.634
172   1.151.600
133   801.469
127   1.072.000
322   1.608.013
241   793.009
172   1.383.854
121   494.566
70   437.684
65   83.000
93   626.000
75   37.735
69   256.658
66   230.000
54   200.000
68   199.000
57   11.720
38   59.200
27   130.000
47   255.020
32   3.500
27   20.906
48   284.569
39   107.447
35   64.702
23   6.500
25   156.316
10   15.950
18   722.069
17   6.121
29   30.000
21   5.700
23   50.237
15   19.670
8   7.888
20  
11  
15   3.500
18   112.181
23  
10   30.000
26   3.575
306   2.074.000
240   1.312.601
330   434.237
139   495.000
353   1.511.457
324   1.800.000
276   2.050.000
221   623.117
200   796.026
117   360.000
170   538.848
122   568.536
57   300.000
62   249.205
98   150.000
75   220.000
62   50.302
50   517.729
27   51.000
44   75.704
33   271.724
25   118.049
42  
30   40.000
44  
10   10.000
18   10.000
18  
73   70.000
21   12.000
22   20.000
25   36.277
25   36.277
31   10.450
16   14.300
15   4.296
12  
11  
16   379.498
22   1.520
12   45.000
34   96.619
37   270.000
25   60.000
10   12.500
270   1.934.820
261   3.000.000
219   1.675.995
280   903.000
378   2.429.367
181   1.143.850
166   900.000
119   600.000
174   2.500.000
124   1.103.939
112   363.825
227   1.538.000
161   1.370.968
216   1.339.903
102   173.481
96   210.000
97   441.737
56   96.000
72   177.833
62   252.390
78   377.182
74   111.000
33   238.000
30   45.000
39   50.000
32   40.000
25   61.766
41   166.903
24   116.056
49   41.000
43   195.821
9  
20   96.713
32   6.500
14   5.500
14   4.000
13   15.000
13   9.500
53   48.200
11   3.000
16   27.084
21   30.000
21   20.000
46   43.549
21   10.000

Business profit is: ▪ the residual of sales revenue minus the explicit accounting costs of doing business. ▪ a normal rate of return. ▪ economic profit. ▪ the return on stockholders' equity.

Q1/ a. For the following three cases, calculate

i. The marginal revenue curve

ii. The level of output where MR = MC (i.e., set the equation from item i equal to marginal cost and solve for Q)

iii. The profit-maximizing price (i.e., plug your answer from equation ii into the demand curve)

iv. Total revenue and total cost at this level of output (something you learned in Chapter 11)

v. What entrepreneurs really care about—total profit

Case A: Demand: P = 40 − Q Fixed cost = 100 Marginal cost = 10

Case B: Demand: P = 100 − 2Q Fixed cost = 100 Marginal cost = 10

Case C: Demand: P = 100 − 2Q Fixed cost = 100 Marginal cost = 20.

b. What is the markup in each case? Measure it two ways: first in dollars, as price minus marginal cost, and then as a percentage markup [100 × (P – MC)/MC, reported as a percent].

c. If you solved part b correctly, you found that when costs rose from Case B to Case C, the monopolist’s optimal price increased. Why didn’t the monopolist charge that same higher price when costs were lower? After all, they are a monopolist, so they can charge what price they want. Explain in language that your grandmother could understand.

An alternative under consideration involves incurring $50 in costs to generate $60 in revenue. The differential revenue for this alternative is $10.

True

False

.Relevant costs are frequently called avoidable costs.

True

False

Cable Corporation is evaluating two decision alternatives. Alternative One has costs of $1,000 and revenues of $1,500 while Alternative Two has costs of $1,600 and revenues of $2,000. The amount of differential revenue between these alternatives is $500.

True

False

.Only variable costs are relevant for decision making.

True

False

Avoidance of product-level costs can be achieved by eliminating the product line.

True

False

Fixed costs are relevant for decision making if they vary between the alternatives and will occur in the future.

True

False

Sunk costs are not relevant for decision-making purposes.

True

False