iv. You employer calls a meeting but due to unforeseen circumstances he/she is unable to attend. Form a sample of the minutes you would record/document for your employer to update them about the points discussed and decisions made in the meeting.

(write a brief answer)

Please describe each term listed below.

Accounting Standards Update (ASU)

Generally Accepted Accounting Principles (GAAP)

Cost Constraint (in regards to financial reporting)

Accounting Standards Codification (ASC)

Materiality

Measurement

Presentation

Recognition

Disclosures

Going Concern Assumption

A developer identifies the following triggers on the Expense_c object:

DeleteExpense,

applyDefaultstoex

pense

validateexpenseup

date;

The triggers process before delete, before insert, and before update events respectively. Which two techniques should the developer implement to ensure trigger best practice are followed?

Problem 3: VSL

a) Describe VSL (i.e., “Value of a Statistical Life”) in terms that a non-economist can understand, taking care to “de-stigmatize” this economic concept (i.e., explain why it should not be considered as controversial as it is often portrayed).

b) Lavetti (2012) studies the wage-risk tradeoff for one of the riskiest professions in the United States: crab fishing in Alaska. The riskiness of crab fishing is driven mainly by the season and weather conditions. Lavetti collects data on the weather conditions of specific fishing trips, and the wages paid to the crew. He then runs a regression of the wage on the expected fatality rate for each trip and finds that an increase in one fatality per 1000 full time workers per year increases the mean hourly wage by $2.10. Calculate the VSL implied by this estimate, assuming that the number of hours a full-time worker works in a year is 2000.

c) Does this number seem high or low to you? Briefly discuss why this might be the case.

In 2000, 58% of females aged 15 years of age and older lived alone, according to the U.S. Census Bureau. A sociologist tests whether this percentage is decreased today by conducting a random sample of 500 females aged 15 years of age and older and finds that 280 are living alone. Is there sufficient evidence at the α=0.05 level of significance to conclude the proportion has decreased since 2000? If a random sample of 30 females aged 15 years of age and older and finds that 16 are living alone. Is there sufficient evidence at the α=0.05 level of significance to conclude the proportion has decreased since 2000?

The university claims that the average cost of accommodation(μo) within five kilometers is 2000 JD per academic year. A university student is preparing her budget for her first year at the university. She is concerned that the university’s estimate is too low. Having taken AP statistics, she decides to perform the following test of Hypothesis; Ho: μ = 2000 JD Ha: μ ˃ 2000 JD (a)- Describe the type I and type II for this problem (b)- Which of the two errors I or II has more serious consequences for the student, and Why?

Subject: Probability and statistics

(Elena and Natalie were interested in baking cakes and selling them. They formed a
partnership called- ‘Yummy for Tummy Cakes’ and served cakes and biscuits for the
locals in their housing area. As they were lacking capital for their business, they
requested Elena’s cousin, Lina to invest in this business. Lina agreed and gave them
RM30000 on the basis that she gets RM3000 per 3 months as a return for the
investment. Another condition is that Elena and Natalie should update Lina on the
partnership’s transactions annually.
However, Elena and Natalie failed to give Lina the returns and also did not update
Lina on their partnership’s accounts.)

1 (Does a partnership exist between Elena, Natalie, and Lina? Discuss and support
your answer with relevant principles of law.)

2. (If a partnership exists between Elena, Natalie and Lina, discuss the ways in which a
partnership can be dissolved.)

3. (Analyse the characteristics of partnership with appropriate examples and case
laws.)

Assignment:

Prepare an internal email to your Audit Senior (the supervisor for a first-year auditor) using proper grammar, spelling, and format. Your email is a reply to their request for an update of the Ron Audit. You should let them know how far along you are, any issues you are encountering, and when you expect completion of the Accounts Receivable area you were assigned. You can use the following format:

Date:

From:

To:

Subject: Reply to your request for update for the Ron Audit Accounts Receivable task.  

An internal email is more informal and you need to be short, clear, concise, and to the point.

You should review Accounts Receivable and Google information on what auditing Accounts Receivable entails to in order you to write 1-3 paragraphs to your Audit Senior. You should use a business writing style.