5. The GASB has the responsibility for establishing financial accounting standards for all of the following entities EXCEPT:
A. state and local government entities.
B. veteran’s hospitals.

C. school districts.

D. art museum.

6. The expendable fund (governmental fund) measurement focus is on:

A. the flow of current financial resources.
B. the flow of economic resources.
C. the flow of revenue, expenses, and net income.

D. none of these.

Question: Determine the profit maximizing price and quantity of resources in factor markets under perfect and imperfect competition by use of marginal analysis.

I understand that firms will maximize profit or minimize loss by producing the output where marginal revenue equals marginal cost; however, does that apply to perfect and imperfect?

I just feel like the answer requires more than the firms desire for MR = MC.

9-9 B

Coronado Corporation’s April 30 inventory was destroyed by fire. January 1 inventory was $155,900, and purchases for January through April totaled $529,000. Sales revenue for the same period were $654,700. Coronado’s normal gross profit percentage is 30% on sales.

Using the gross profit method, estimate Coronado’s April 30 inventory that was destroyed by fire.

Based on what you have learned in this course about the various taxes, their advantages and their drawbacks, devise a tax system for a poor sub-Saharan country with no natural resources (oil & gas). In other words, what combination of taxes would you use to raise enough revenue to provide essential public services and yet not stall the country’s economic development? You must back up your choices with explanations.

For this activity, prepare a presentation to solicit support for the establishment of an airport. You will research and select the location for your airport. You may choose any location (national or international) that you wish as well as any type of airport. Your presentation must include: The airport location The airport type Funding/revenue sources for airport construction and operation Steps involved during its design, development, and construction Environmental considerations.

I believe this is a huge advantage if companies can be ahead of the game, and see the potential need for change and begin implementation BEFORE they are forced to by a driving force that is less attractive (such as a plummet in revenue due to losing clients to competition). Having awareness to the reasons why people are resisters to change, can also be beneficial to planning for change long before implementing a change.  

what are your thoughts on this . do you agree

1. Describe the following debt instruments and discuss whether each obligation would be reported as a current obligation or a noncurrent obligation:
a) Demand Bonds
b) Bond Anticipation Notes
c) Tax Anticipation Notes
d) Revenue Bonds
e) Industrial Development Bonds

2. Internal Service funds are used by many governmental entities. What are the financial reporting ramifications of using internal service funds?

What are tax preferences and tax expenditures? What are the major justifications for tax preferences? What are the economic consequences of tax preferences? How can tax expenditures be used to evaluate the desirability of tax preferences? Why do tax expenditures overestimate the gains in revenue that would come about from eliminating tax preferences? Explain how tax preferences distort prices and cause losses in market efficiency.

a. Calculate price elasticity given the following information. Is the curve elastic, inelastic or unitary elastic? Original Quantity:3550 lbs of coffee New Quantity: 7100 lbs of coffee Original Price: $15.99/lb New Price: $7.99/lb b. (6 pts) Given the elasticity calculated in part a, will the seller increase or decrease their revenue if they lower the price of coffee? c. (8 pts) Explain the determinants of elasticity.