Accounting, Computers, and Business law FOR DISNEY Describe any Federal or State legal issues the company DISNEY has encountered recently
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Accounting, Computers, and Business law FOR DISNEY
Describe any Federal or State legal issues the company DISNEY has encountered recently
Step by step
Solved in 3 steps
- Customers who want to know if a company will stay in business in the long term to honour warranties are considered ________ of accounting information. Select answer from the options below external users primary users indirect users internal usersMatch the following users with their information requirements: Users Requirements 1 The public A The ability of the company to continue, and to pay pensions in the future 2 The government B The use of information for taking operational decisions in running the company 3 Employees C The policies of a company and how those policies affect the community, for example health and safety 4 Internal users D The performance and financial position of a company and its ability to pay dividends 5 Shareholders E The ability of a company to pay taxes, and administer other taxes, for example value-added taxBarbie renders professional assistance in matters relating to accounting procedures and the recording and presentation of financial facts or data for a client on a fee basis. Barbie is under the practice of Group of answer choices a. Public Accountancy b. Commerce and Industry c. Education d. Government
- 7 The following are examples of a partial online offer of the “Transaction Business Model”, except: Select one: a. Online finalization of services with offline initiation b. A download of application or request forms c. Corporate tax d. Application for government mortgageWhich of the following professional services is an attestation engagement?(1) A consulting service engagement to provide computer-processing advice to a client.(2) An engagement to report on compliance with statutory requirements.(3) An income tax engagement to prepare federal and state tax returns.(4) The preparation of financial statements from a client’s financial records.When should liabilities for each of the following items berecorded on the books of an ordinary business corporation?(a) Acquisition of goods by purchase on credit.(b) Officers’ salaries.(c) Special bonus to employees.(d) Dividends.(e) Purchase commitments.
- What is the purpose of Regulation S–K? Choose the correct.a. Defines generally accepted accounting principles in the United States.b. Establishes required disclosure of nonfinancial information with the SEC.c. Establishes required financial disclosures with the SEC.d. Indicates which companies must file with the SEC on an annual basis.Which of the following professional services would be considered an attestationengagement?(1) Advocating on behalf of a client about trust tax matters under review by theInternal Revenue Service.(2) Providing financial analysis, planning, and capital acquisition services as apart-time, in-house controller.(3) Advising management in the selection of a computer system to meet business needs.(4) Preparing the income statement and balance sheet for one year in the future basedon client expectations and predictions.David is represents his employer before government agencies on tax and other matters related to accounting. David is therefore in the practice of Group of answer choices a. Public Accountancy b. Commerce and Industry c. Education/Academe d. Government
- Choose the correct. What is a letter of comments?a. A letter the SEC sends to a company indicating needed changes or clarifications in a registration statement.b. A questionnaire supplied to the SEC by a company suggesting changes in Regulation S–X.c. A letter included in a Form 10–K to indicate the management’s assessment of the company’s financial position.d. A letter composed by a company asking for information or clarification prior to the filing of a registration statement.PURPOSE OF ACCOUNTING Describe the kind of information needed by the users listed. Owners (present and future) Managers Creditors (present and future) Government agenciesPURPOSE OF ACCOUNTING Match the following users with the information needed. 1. Ownersa. Whether the firm can pay its bills on time 2. Managersb. Detailed, up-to-date information to measure business performance (and plan for future operations) 3. Creditorsc. To determine taxes to be paid and whether other regulations are met 4. Government agenciesd. The firms current financial condition