Answer the following question:

Promoters are individuals who form the corporation, and often receive stock in exchange for their efforts.
Ture/False

An advantage of a partnership over a corporation is that an interest in a partnership can be freely traded in the open market.
Ture/False

The state of Delaware offers corporate-friendly laws in order to incentivize companies to incorporate in Delaware
Ture/False

A corporation, like a natural person, is entitled to due process under the law.
Ture/False

If corporate officers do not follow corporate formalities like holding annual meetings or filing reports with the state, those corporate officers could lose the limited liability protection of the corporate form.
Ture/False

A corporation must be headquartered in the same state where it is incorporated.
Ture/False

If a shareholder in a corporation is not able to physically attend an annual meeting in which a vote takes place, the shareholder may designate another person to be their proxy to vote for them at the meeting.
Ture/False

Shareholders in a corporation elect the CEO and key executives of the corporation but not the board of directors.
Ture/False

The Sarbanes-Oxley Act of 2002 was enacted to curb fraudulent accounting practices.
Ture/False

A director of a corporation owes a duty of loyalty and a duty of care to the corporation and its stockholders.
Ture/False

QUESTION

Enron was an American energy company based in Houston, Texas. Enron scandal which was revealed in 2001 has resulted in the dissolution of the Arthur Andersen. Arthur Andersen was one of the Big 5 audit firm at that time. Enron was seen as the biggest audit failure.

World.com was an American telecommunications company. It was the second largest long distance phone company in the US. In 2002 WorldCom submitted the largest bankruptcy filing in the US history. The WorldCom scandal cost 30 000 employees their jobs and cost investors $180 billion. Arthur Andersen was WorldCom's auditor during the five financial quarters in question.

Required:

a)Provide detail explanation of the factors that have affected the incidence of lawsuits against CPA in recent years .                                                                                                                                                                          

b) The Enron and WorldCom bankruptcy was due to accounting fraud. Provide a background research on these two companies and describe the nature of accounting fraud that was committed by the two companies.                     

c) What are the business risks faced by these two companies, and how did those risks increase the likelihood of material misstatements in their financial statements?                                                    

d) A perceived lack of integrity caused irreparable damage to Arthur Andersen. How can you apply the principles learned in this case personally? How are CPA firms different from other professionals?                                                                                                                                                                                                                    

Marlon Inc. has 2 divisions. Each division’s required rate of return is the same as the firm’s which is 15 percent. Planned operating results for 2002 are as follows:

Requirement A:

a) Compute the ROI of both divisions and compare their performances based on ROI. Which division is performing better based on ROI?

b) Compute the Residual Income (RI) of both divisions and compare their       performances based on RI. Which division is performing better based on RI?

Requirement B:

c) Compute the ROI and RI of a new project under consideration by both divisions which would require $50 million in invested capital and would net $9 million in income.

d) Assume both divisions’ managers’ bonuses are tied to their individual division’s ROI. Would the manager of Lagos division accept or reject the project? Would the manager of Enugu division accept or reject the project?. Explain.

e) Repeat (d) but assume that both divisions’ managers’ bonuses are tied to their individual RI.

f) State whether top management wants the project to be accepted or rejected. Explain.

Sachs Brands' defined benefit pension plan specifies annual retirement benefits equal to: 1.3% × service years × final year's salary, payable at the end of each year. Angela Davenport was hired by Sachs at the beginning of 2002 and is expected to retire at the end of 2036 after 35 years' service. Her retirement is expected to span 18 years. Davenport's salary is $87,000 at the end of 2016 and the company's actuary projects her salary to be $265,000 at retirement. The actuary's discount rate is 9%. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: 1. What is the company's projected benefit obligation at the beginning of 2016 (after 14 years' service) with respect to Davenport? 2. Estimate by the projected benefits approach the portion of Davenport's annual retirement payments attributable to 2016 service. 3. What is the company's service cost for 2016 with respect to Davenport? 4. What is the company's interest cost for 2016 with respect to Davenport? 5. Combine your answers to requirements 1, 3, and 4 to determine the company's projected benefit obligation at the end of 2016 (after 15 years' service) with respect to Davenport.

I don't want explanation , I just want a correct answer, Very quickly.

12- If the slope of the consumption function is equal to one, then
Select one:
a. The multiplier is undefined
b. The multiplier is smaller than one
c. The multiplier is just one
d. The multiplier is larger than one
e. None of the above

11- If the nominal interest rate 8% and expected inflation 5%, the expected real interest rate in year t is approximately
Select one:
a. 5%.
b. 11%.
c. 3%.
d. 8%.
e. 2%.

09- For the Palestinian Economy, the largest component of GDP is
Select one:
a. Government
b. Consumption
c. Net invetsment
d. Gross investment
e. Net exports

08- Euro otes and coins replaced European national currencies in the year
Select one:
a. 1999
b. 1995
c. 1957
d. 2002
e. 2005

07- Based on wage setting behavior, we know that a decrease in the unemployment rate will cause
Select one:
a. an increase in the real wage.
b. a downward shift in the price setting curve
c. no change in the real wage.
d. an upward shift of the WS curve.
e. a reduction in the real wage.

Run a multiple regression with trend and seasonal; forecast the next 12 months.   

4.

The Chinese government’s tobacco monopoly accounts for 12% of the government’s revenue. It sells to China's 310 million smokers, 1/4 of the world's smoking population, who consume 1700 billion cigarettes a year, about 30% of global consumption

By imposing a 230% tax rate on foreign cigarettes, and by imposing import quotas and restrictions, the government limited legal foreign cigarette sales to less than 2% of total Chinese sales in the late 1990s. However, by 2003 the foreign cigarette share was only 10%. To appease the World Trade Association, China agreed to lift restrictions on the retail sale of imported cigarettes by January 2004, to reduce the tariff on cigarettes from the current 65% to 24% , and to phase out the tariff over the next two years. Thus, the state's monopoly will be eroded.   Expectations were that the price of imported cigarettes would drop by half and imported cigarettes would gain a major share of the Chinese market.   

1. In this case study discuss the impacts of the quotas, tariffs and restrictions on Entry into the Chinese market. What was the intended end result? Explain.

2. Given your answer in (a), use a graphical analysis to demonstrate and explain what occurred after the restrictions were lifted.

With double-digit annual percentage increases in the cost of health insurance, more and more workers are likely to lack health insurance coverage (USA Today, January 23, 2004). The following sample data provide a comparison of workers with and without health insurance coverage for small, medium, and large companies. For the purposes of this study, small companies are companies that have fewer than 100 employees. Medium companies have 100 to 999 employees, and large companies have 1000 or more employees. Sample data are reported for 50 employees of small companies, 75 employees of medium companies, and 100 employees of large companies.

1. Compute the X²  test statistic:

2. What is the P-Value? (Using a Chi-Square table)

3.What can we conclude?

4. The USA Today article indicated employees of small companies are more likely to lack health insurance coverage. Calculate the percentages of employees without health insurance based on company size (to the nearest whole number).

5. Based on the Calculated percentages, what can we conclude?

The mean cholesterol levels of women age 45-59 in Ghana, Nigeria, and Seychelles is 5.1 mmol/l and the standard deviation is 1.0 mmol/l (Lawes, Hoorn, Law & Rodgers, 2004). Assume that cholesterol levels are normally distributed.

1. Find the probability that a woman age 45-59 in Ghana has a cholesterol level above 6.2 mmol/l (considered a high level).
2. Suppose doctors decide to test the woman’s cholesterol level again and average the two values.  Find the probability that this woman’s mean cholesterol level for the two tests is above 6.2 mmol/l. <----Which two numbers am I averaging?
3. Suppose doctors being very conservative decide to test the woman’s cholesterol level a third time and average the three values.  Find the probability that this woman’s mean cholesterol level for the three tests is above 6.2 mmol/l. <----Not sure which numbers I'm averaging?
4. If the sample mean cholesterol level for this woman after three tests is above 6.2 mmol/l, what could you conclude?

I'm answering these questions using the "normalcdf" function in my TI-84. I'm not sure how to get the new standard deviation/numbers I'm averaging for 2 and 3.

The following information relates to the Ashanti Group of Companies for the year to 30 April 2020.

Additional Information:

Ashanti Ltd purchased 70% of the issued share capital of Bochem Ltd in 2000. At that time, the retained profits of Bochem amounted to $896,000.

Ashant Ltd purchased 60% of the issued share capital of Ceram Ltd in 2004. At that time, the retained profits of Ceram Ltd amounted to $320,000.

Sales from Ashanti to Bochem Ltd were $ 3 million during the post-acquisition period. Ashanti marks up all sales by 20%. At the reporting date this entire inventory remained in Bochem’s warehouse.

REQUIRED:

In so far as the information permits, prepare Fab Group of Companies’ Consolidated Income Statement for the year ended 30 April 2020 in accordance with IFRSs.