Critically evaluate the following statement: “The only accountability owed by a business is to its shareholders”

Address the following in your answer: a) A discussion of the above statement from a “business case” perspective, including what this perspective tells us in relation to the purpose of business, and who businesses should be accountable to.

b) A discussion of the above statement from a “stakeholder accountability” perspective, including what this perspective tells us in relation to the purpose of business and, who businesses should be accountable to. Use at least TWO different stakeholder groups as examples to support your discussion.

c) In your opinion, which of the above perspectives (business case OR stakeholder accountability) do you think best addresses the objective of accounting to provide useful information to users? Explain why.

The managers of three different supermarkets in the US desire to test the effectiveness of a new store design on sales. The manager of supermarket A decides to let store directors choose on their own whether they judge appropriate to implement the new design. The manager of supermarket B randomly chooses stores to assign the new design. The manager of supermarket C randomly draws stores in each US State separately.

(a) State whether each of the three experimental designs is observational or experimental, providing an explanation.

(b) Which experimental design is implemented in each of the three studies?

(c) Which kind of bias will arise from design A? Why?

(d) Compare the quality of statistical results from Designs B and C. State which of the two prevails on your opinion and why.

The managers of three different supermarkets in the US desire to test the effectiveness of a new store design on sales. The manager of supermarket A decides to let store directors choose on their own whether they judge appropriate to implement the new design. The manager of supermarket B randomly chooses stores to assign the new design. The manager of supermarket C randomly draws stores in each US State separately.

(a) State whether each of the three experimental designs is observational or experimental, providing an explanation.

(b) Which experimental design is implemented in each of the three studies?

(c) Which kind of bias will arise from design A? Why?

(d) Compare the quality of statistical results from Designs B and C. State which of the two prevails on your opinion and why.

Grades on a standardized test are known to have a mean of 500 for students in the US. The test is administered to 600 randomly selected students in Florida. In this subsample, the mean is 508, and the standard deviation is 75

i. Construct a 95% confidence interval for the average test score for students in Florida.

ii. Is there statistically significant evidence that students in Florida perform differently from other students in the US?

iii. Another 500 students are selected at random from Florida. They are given a 3 hour preparation course before the test is administered. Their average test score is 514, with a standard deviation of 15. Construct a 95% confidence interval. Is there statistically significant evidence that the preparation course helped? What conditions must be met in order for the results to have a causal interpretation?

Carla Vista Corp.’s net income for 2020 is $140,600. The only potentially dilutive securities outstanding were 1,000 call options issued during 2019, with each option being exercisable for one share at $16. None have been exercised, and 28,700 common shares were outstanding during 2020. The average market price of the company’s shares during 2020 was $20.

QUESTIONS:

A) Calculate diluted earnings per share for the year ended December 31, 2020.

B) Assuming that the 1,000 call options were instead issued on November 1, 2020 (rather than in 2019), calculate diluted earnings per share for the year ended December 31, 2020. The average market price during the last two months of 2020 was $20.

Mira A Certified Public Auditor licensed in Palestine is the partner in charge of Ooredoo audit. In order to save cost, she hired a group of students from Al-Najah University to help her conduct the audit. A month later Mira received the audited financial statements and the report from the students. She signed it and send it to the board of directors of Ooredoo.
What standards were violated and why?

Is there a violation of the elements of audit quality control, briefly discuss?

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Abdul-Rahim Taysir

Mr. and Mrs. Bighead have two dependent children, both attending Temple University. Buford, age 19 is a sophomore who received a 1098T from Temple for 2017 showing $15,000 of qualified tuition and fees. Brunhilda, age 23 attends Temple Law School and she received a 1098T from Temple showing $25,000 in qualified tuition and fees.

a)Assuming an AGI on their joint return for 2017 of $172,000, how much education tax credits do the Bigheads get to take on their tax return?

b) How would your answer in a) change if their AGI were $125,000?

You have the alternative of paying for university fees today for a payment of $15,000 or, you can select a payment plan where you pay $6,000 in 11 months from today and another $11,000 in exactly 23 months from today.

If the interest rate is 6.2%p.a. compounding monthly, what is the advantage that the payment plan has over the upfront payment? (expressed in present day value rounded to the nearest cent; do not show $ sign or comma separators; if the payment plan is more costly than $15,000 today, your answer will show a negative eg. -300.35)

Problem 1: Record the Journal Entry or Entries for the following transactions assuming a perpetual inventory system is used.

1. XYZ Corp. is a retailer and they purchase 10,000 books for $25,000 dollars on account from ABC Corp.

2. Assume the terms of the sale described in #1 are FOB shipping point, XYZ Corp. pays Just-In-Time Logistics $2,200 for shipping.

3. XYZ Corp. purchases 3,600 calculators for $130,000 dollars from ABC Corp. under the terms 2/10, n/30 on March 1, 20X5. On March 8, 20X5 XYZ Corp. paid ABC Corp. in full.

4. XYZ Corp. purchases 300 keyboards from ABC Corp. for $24,000 on account on October 5, 20X4. On October 17, 20X4 XYZ Corp. discovered that $800 of the calculators (from the purchase in #3) were defective and returned them to ABC Corp.

5. XYZ Corp. sells 500 pencil cases to ABC Corp. at a selling price of $12, the cases had an original cost of $8.

6. Assume that after the sale described in #5 ABC Corp. returned 25 pencil cases to XYZ Corp. Assume the cases are still like new and XYZ places them back into inventory.

7. On April 15, 20X4, XYZ Corp. sells 500 cases of staples to State University on account for $1,500 with the payment terms 2/10, n/30 and the staples had a cost of $925. State University pays XYZ Corp. in full on April 24, 20X4.