Trust Us Communications Pty Ltd, is a national communications company which has recently placed an advertisement in the newspaper of a number of large cities in Australia. This is the advertisement:
(Unlimited Broadband Internet Access
For $99.99 a month get unlimited broadband access anywhere in Australia.
Call 1800 999 999 to take up this offer.
Hurry. Limited time only.)
Jenny lives in a remote part of New South Wales and runs an internet dating/introduction business. She is excited by the advertisement and decides to take up the offer.
Jenny later discovers that the advertisement did not explain all of the terms and conditions of the offer very clearly. It seems that the offer is not for ‘unlimited broadband access’. Once a user has reached a usage limit of 150 GB in a calendar month, they are prevented from gaining further internet access until the following calendar month. It also appears that access is not available ‘anywhere in Australia’ and is primarily restricted to areas within 200km of a capital city. Jenny needs permanent access to the internet to conduct her business and will be severely affected by these conditions.
Jenny is very disappointed, she feels that she has been deceived by the advertisement. Advise Jenny of the chances of her success in mounting a claim under the ACL against Trust Us Communications Pty Ltd.
In: Accounting
Oraby Company imports goods from different countries. Some transactions are denominated in U.S. dollars and others in foreign currencies. A summary of accounts receivable and accounts payable on December 31, 2008, before adjustments for the effects of changes in exchange rates during 2008, follows:
Accounts receivable:
In US dollars $100 000
In 60 000 Swiss francs (SFr) $50 000
Accounts payable:
In US
dollars
$86 000
In 10 000 000 Yen $ 97 000
The spot rates on December 31, 2008, were:
1 SFr = $0.85
1 Yen = $0.0095
The average exchange rates during the collection and payment period
in 2009 are:
1 SFr = $0.9
1 Yen = $0.0098
Required:
1) Prepare the adjusting entries on December 31, 2008.
2) Record the collection of the accounts receivable and the payment
of the accounts payable in 2009.
3) What was the foreign currency gain or loss on the accounts
receivable transaction denominated in SFr for the year ended
December 31, 2008? For the year ended December 31, 2009? Overall
for this transaction?
4) What was the foreign currency gain or loss on the accounts
payable transaction denominated in Yen? For the year ended December
31, 2008? For the year ended December 31, 2009? Overall for this
transaction?
In: Accounting
One of the basic elements of Roger's diffusion theory is the concept of adoption process which deals with the mental stages through which an individual passes from the time of his or her first knowledge of an innovation to the time of product adoption or purchase. Briefly describe these stages giving examples of Apples' iPhone.
In: Finance
Question : Provide reflections on job costing system of costing system in managerial accounting unit.
Reflections on your overall research experience from the
individual assignment (e.g. looking for
journal articles, reading and reviewing the literature etc.) What
was enjoyable, what was difficult,
and any challenges you experienced?
In: Accounting
ESSAY: This essay has to be 2 pages and writen in font size 12
. and also another page is a brief outline and sources citation
Topic; how integrity and individual decisions can affect other people, this topic can be refered from Sport area, Academic, Work experiences, Management
In: Psychology
Smaller Corporation has been in operation for several
years. Each year, around the holidays, Smaller gives a cash bonus
to each of its employees and records the bonuses as compensation
expense. Smaller has reached the point at which it is now making a
reasonable return on its shareholders' equity. At the end of the
current year, the company president is considering establishing a
compensatory share option plan for Smaller's key executives,
instead of paying cash bonuses to any of its employees. At this
time, the market price and the planned option (exercise) price of
the company's common stock are the same. The plan would allocate a
specified number of options to each executive based on the
executive's level within the company and meeting Smaller's targeted
income goals. The service period would be 3 years and the options
would have to be exercised within 10 years. You are the controller
for Smaller and one of the key executives who would participate in
the plan. You also already own a substantial number of shares of
Smaller common stock. The company president comes to you for advice
about this plan and says, “If Smaller establishes this plan, it
will work out for all of us. It looks like the plan is pretty
valuable, since an option pricing model shows a high fair value for
each option. The corporation will be saving cash because it won't
have to pay bonuses to either the executives or the other
employees. But executives will manage better because their share
options will depend on meeting the company's targeted income.
Because the market price and the option price are the same, there
won't be any compensation cost or expense related to this plan.
Furthermore, since no bonuses would be paid to any employees, the
corporation will decrease its compensation expense. This will
increase its net income and earnings per share compared to last
year, as well as its return on shareholders' equity. So the stock
value will go up. This seems like a win-win situation for everyone.
Am I right on this?” Do you think Smaller should adopt this
compensatory share option plan?
Required: From financial reporting and ethical
perspectives, how would you reply to the president?
In: Accounting
1-If an investigator is systematically varying the delay between the instrumental response and the subsequent delivery of the reinforcer, she is investigating
a-temporal contiguity in instrumental conditioning.
b-response reinforcer contingency.
c-negative contrast.
d-delayed conditioning procedures.
2-According to Thorndike what is the function of a reinforcer?
a-To strengthen the association between a stimulus and a
response.
b-To strengthen the association between a reinforcer and a
response.
c-To strengthen the association between a stimulus and a
reinforcer.
d-To reduce the drives that force animals to action.
3-Which of the following correctly describes the phenomenon of 'blocking'?
a-Prior conditioning with CS1 increases responding to the added
stimulus CS2.
b-Prior conditioning with CS1 prevents conditioning to the added
stimulus CS2.
c-Prior conditioning with CS1 is blocked by the new added stimulus
CS2.
d-Prior conditioning with CS1 is enhanced by the new added
stimulus.
4-In the Lieberman et al. (1979) study just after the instrumental response, an intense noise (marker) was presented. Under these circumstances, the instrumental learning became resistant to the delay of reinforcement because
a-the marker acts as a conditioned stimulus.
b-the marker increases the drive level of the organism.
c-the marker increases the activity of the organism.
d-the marker helps to distinguish the instrumental response from
other responses.
5-The blocking effect indicates that for the establishment of an association between a CS and a US,
a-contiguity between a CS and a US is enough.
b-US intensity is very important.
c-contiguity between a CS and a US is not enough.
d-CS type is very important.
6-In which of the contingencies below does the instrumental response procedure an appetitive stimulus?
a-Negative reinforcement.
b-Punishment.
c-Positive reinforcement.
d-Omission training.
7-Which of the following findings strongly supports the compensatory response model?
a-The finding that the nature of the CR is identical to the UR.
b-The finding that in many classical conditioning situations
involving drugs as the US, the form of the CR is opposite the forms
of the UR.
c-The finding that in higher order conditioning sometimes S-R
rather than S-S types of associations are observed.
d-The finding that in sensory preconditioning always S-S type
associations are observed
8-Under which of the following conditions will the CS be associated with the US most rapidly?
a-If the CS is familiar, relatively weak, and related to the US
b-If the CS is novel, relatively intense, and related to the
US.
c-If the CS is novel, relatively weak, and not related to the
US.
d-If the CS is novel, relatively intense, and not related to the
US.
In: Psychology
Cullumber Co. follows the practice of valuing its inventory at the lower-of-cost-or-market. The following information is available from the company’s inventory records as of December 31, 2017. Item Quantity Unit Cost Replacement Cost/Unit Estimated Selling Price/Unit Completion & Disposal Cost/Unit Normal Profit Margin/Unit A 1,600 $ 8.33 $ 9.32 $ 11.66 $ 1.67 $ 2.00 B 1,300 9.10 8.77 10.43 1.00 1.33 C 1,500 6.22 5.99 7.99 1.28 0.67 D 1,500 4.22 4.66 6.99 0.89 1.67 E 1,900 7.10 6.99 7.44 0.78 1.11 Greg Forda is an accounting clerk in the accounting department of Cullumber Co., and he cannot understand why the market value keeps changing from replacement cost to net realizable value to something that he cannot even figure out. Greg is very confused, and he is the one who records inventory purchases and calculates ending inventory. You are the manager of the department and an accountant. Calculate the lower-of-cost-or-market using the individual-item approach. Lower-of-Cost-or-Market (Per unit basis) Item A $ Item B $ Item C $ Item D $ Item E $
|
Account Titles and Explanation |
Debit |
Credit |
| Cost of Goods sold Method: | ||
| The Loss method: |
In: Accounting
In: Biology
True/false
1- The fair market value of property or services received in bartering must be included in gross income.
2- Mr. Barley an accountant, accepted a painting for his office from his client in lieu of payment of his customary fee of $400 for preparation of a tax return. He must include the $400 income.
3- An ordinary expenditure is one which is commonly incurred by other businesses.
4- Rent and royalty expenses are deductible from adjusted gross income.
5- Federal income taxes paid by a taxpayer in connection with her business are not deductible in computing the business federal taxable income.
6- A necessary expense is one that is appropriate to helpful to the continuation of the taxpayer' business; ordinary refers to an expense that is customary and acceptable in the taxpayer's type of business.
7- If debt becomes worthless, the amount allowed as bad deduction is the adjusted basis of the debt.
8- Independent contractor is self-employed individuals who perform services for another individual or business entity and are considered employees of the persons or business that hire them.
9- The portion of an employee's salary deemed ''unreasonable'' may be considered a dividend distribution to an employee that is also a shareholder of the corporation.
10- taxpayers cannot deduct the costs of tickets to any entertainment actively or facility whether or not the taxpayer's attendance at the activity is related to business.
In: Accounting