1. What does it mean biologically to be human? How can evolution explain both the unity and diversity of human phenotypes? Use specific examples of evidence and some version of the following terms in your answer: neutral genetic variation, evolution, natural selection, drift/bottleneck/founder effect, migration, mutation, and species/population/lineage.

Which of the following is not true for allelic diversity:

Select one:

It can be used to infer past demographic processes like founder events

It can be used to detect recent population genetic bottlenecks

It can be related to future adaptive potential

All of the listed statements are true

When low, it can buffer populations against inbreeding depression

• Benjamin Disraeli once said ‘there three sorts of lies: lies, big lies and statistics.’ If one of the co-founders (Jevons) claim that for economics to be an exact science, a perfect system of statistics is necessary, while the other co-founder (Walras) rejects the use of statistics, even though both praise mathematics and quantative analysis, how to resolve this contradiction?

Use the following information for the Exercises below.

[The following information applies to the questions displayed below.]

Laker Company reported the following January purchases and sales data for its only product.

The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 350 units, where 330 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory.

Exercise 5-3 Perpetual: Inventory costing methods LO P1

[The following information applies to the questions displayed below.] Laker Company reported the following January purchases and sales data for its only product. Date Activities Units Acquired at Cost Units sold at Retail Jan. 1 Beginning inventory 145 units @ $ 7.00 = $ 1,015 Jan. 10 Sales 105 units @ $ 16.00 Jan. 20 Purchase 70 units @ $ 6.00 = 420 Jan. 25 Sales 85 units @ $ 16.00 Jan. 30 Purchase 190 units @ $ 5.50 = 1,045 Totals 405 units $ 2,480 190 units Required: The Company uses a periodic inventory system. For specific identification, ending inventory consists of 215 units, where 190 are from the January 30 purchase, 5 are from the January 20 purchase, and 20 are from beginning inventory. Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average, (c) FIFO, and (d) LIFO..

Required information

[The following information applies to the questions displayed below.]
  
Laker Company reported the following January purchases and sales data for its only product.
  

For specific identification, ending inventory consists of 285 units, where 270 are from the January 30 purchase, 5 are from the January 20 purchase, and 10 are from beginning inventory.

Required:

1. Prepare comparative income statements for the month of January for Laker Company for the four inventory methods. Assume expenses are $1,700, and that the applicable income tax rate is 40%.

Laker Company reported the following January purchases and sales data for its only product. Date Activities Units Acquired at Cost Units sold at Retail Jan. 1 Beginning inventory 240 units @ $ 16.50 = $ 3,960 Jan. 10 Sales 190 units @ $ 25.50 Jan. 20 Purchase 170 units @ $ 15.50 = 2,635 Jan. 25 Sales 190 units @ $ 25.50 Jan. 30 Purchase 380 units @ $ 15.00 = 5,700 Totals 790 units $ 12,295 380 units rev: 09_15_2017_QC_CS-99723 Required: The Company uses a periodic inventory system. For specific identification, ending inventory consists of 410 units, where 380 are from the January 30 purchase, 5 are from the January 20 purchase, and 25 are from beginning inventory. Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average, (c) FIFO, and (d) LIFO.

Which of the following best expresses the accounting standard regarding accounting for purchases and inventories in the General Fund?

Select one:

a. Purchases may be recorded as expenditures either when acquired or consumed; if accounted for as expenditures when acquired, year-end inventories are ignored.

b. They must be accounted for in a manner similar to that of commercial enterprises.

c. All purchases must be accounted for as expenditures upon acquisition.

d. Purchases may be recorded as expenditures either when acquired or consumed; if accounted for as expenditures when acquired, year-end inventories must be reported if the amount is significant.

Which of the following transactions creates an expenditure on the General Fund statement of revenues, expenditures, and changes in fund balance?

Select one:

a. A purchase of water from the Water Enterprise Fund

b. A transfer of resources to the Debt Service Fund so the Debt Service Fund can pay debt service on general obligation debt

c. A transfer of resources to the Capital Projects Fund to help pay for a major capital project

d. A loan to the Sewage Enterprise Fund

At the end of fiscal year 2019, Carson City had outstanding encumbrances of $15,000. Although the city follows a policy of allowing outstanding encumbrances to lapse, it plans to honor the related purchase orders in fiscal year 2020. How should the city report the existence of the outstanding encumbrances in the financial statements if the encumbrances do not relate to a resource classified as restricted or committed?

Select one:

a. It should be reported as Reserved for Encumbrances.

b. It should be reported as Nonspendable fund balance.

c. It should be reported as Unassigned fund balance.

d. It should be reported as Assigned fund balance.

A state provides pension benefits to retired employees who have worked at least five years for the state. Based on employee salaries during 2019, the state actuary calculated that the employees earned pension benefits totaling $14 million. The state appropriated $10 million to the General Fund for payment to its Pension Trust Fund. However, the state encountered financial problems during 2019. It sent its pension system a check for $8 million in October 2019, saying that it would pay no more for the year. The Pension Trust Fund actually paid pension benefits of $3 million during 2019. How much should the General Fund recognize as pension expenditures for 2019?

Select one:

a. $14 million

b. $8 million

c. $10 million

d. $3 million

Which of the following transactions or events best describes when a grant recipient may recognize revenues from intergovernmental grants in governmental-type funds?

Select one:

a. The recipient spends all the resources made available in the grant.

b. The recipient receives cash from the grant provider.

c. The recipient complies with all grant eligibility requirements, and the resources are “available.”

d. The recipient enters into a contract with the grant provider.

On January 1, 2015, Losi Company acquired a 30% interest in an associate for P5,000,000. The equity of the associate at the date of acquisition consisted of share capital pf P10,000,000 and retained earnings of P5,000,000. All the identifiable assets and liabilities of the associate were recorded at fair value. The associate reported the following:

2015 2016
Profit before tax 3,000,000 4,000,000
Income tax expense 900,000 1,200,000
Dividend paid 2,500,000 2,000,000
What is the goodwill arising from the acquisition? {

Select one:

a. 2,000,000

b. 0

c. 1,000,000

d. 500,000