Pacific cruise lines is a defendant
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Pacific cruise lines is a defendant
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- The class-action lawsuit against Andersen also named the Canadian Imperial Bank of Commerce, JPMorgan Chase, Citigroup, Merrill Lynch, and Credit Suisse Group as codefendants with Andersen. Why would the plaintiffs name so many entities in their lawsuit? Merrill Lynch and Credit Suisse asked a U.S. appeals court to rule that the complaint should not have been certified as a class action suit. Why would these entities make such a claim?Pretzel acts as a sponsor in creating a special purpose entity (SPE) that will purchase Accounts Receivable from Pretzel. Under what circumstances will Pretzel be required to treat the SPE as a variable interest entity and consolidate it as its primary beneficiary . a. Pretzel is not entitled to any profits that the SPE earns b. Pretzel agrees to reimburse SPE shareholders in the event the SPE has losses. c. Pretzel receives money from SPE for the fair value of assets that Pretzel sells to it d. Pretzel has no voting rights or ability to direct SPE activities e. The SPE has stockholders equity equal to 20% of SPE assets choose oneCompanies are not required to, but have the option to, value some or all of their financial assets and liabilities at fair value. O True O False Next
- Bell International can estimate the amount of loss that will occur if a foreign government expropriates some company property. Expropriation is considered reasonably possible. How should Bell report the loss contingency?ell International can estimate the amount of loss that will occur if a foreign government expropriates some company property. Expropriation is considered reasonably possible. How should Bell report the loss contingency?Explain disadvantages of wholly owned subsidries. (Answer should be free of plagiarism,it must contain proper facts and figures and examples from diversified countries)
- A firm decides to sell a pool of receivables to a factor with recourse (i.e. the firm selling the receivables must make payment to the buyer of the receivables in the event that the party that originally owes the money does not pay). Under Current U.S. GAAP, which of the following statements is (are) true: A. The firm selling the receivables is prohibited from reporting any Gain or Loss on the sale. B. Any cash received from such a transaction must be reported in the Financing Section of the Statement of Cash Flows. C. Both Statements A & B are true. D. None of the above statements are true.A telecommunications company has acquired a 3G license. The license could be sold or licensed to a third party. However, the management intends to use it to operate a wireless network, and the development of the network starts when the license is acquired. Should borrowing costs on the acquisition of the 3G license be capitalized until the network is ready for its intended use? Respond in no more than three (3) sentences.Quill Corp. vs. North Dakota. and South Dakota vs. Wayfair, do you agree with these cases and why
- Under U.S. GAAP, what alternatives do companies have to value their property, plant,and equipment?4. Today several countries still do not permit domestic-listed companies to use IFRS. Required: Identify three countries from this group that are likely to have different reasons for not permitting the use of IFRS by domestic-listed companies. Describe those rease asons.What kind of financial penalties would be attracted by the violation of this statute?
