Give two reasons why delays occur.

Q: What is operating break-even point?

A: It is point where, company has no profit no loss. At break-even point all fixed costs are recovered.

Q: Explain the importance of the break - even EBIT.

A: A break-even point is the point of sales at which the operating income or the earnings before…

Q: Define Errors.

A: Accounting error means occurrence of mistakes which are committed while recording the transactions…

Q: Define direct write-off method

A: Accounts receivable: Accounts receivable refers to the amount to be received within a short period…

Q: Explain external event with example.

A: Accounting events: Accounting event refers to the business event that creates an impact in the…

Q: At which point are errors are most costly to correct? a. programming b. conceptual design c.…

A:

Q: Explain AMENDMENT OF TIME FRAMES?

A: Time frame is the slot if time under which something has to occur or planned. Here, time frames…

Q: Give one example of an error that a check digit control detects.

A:

Q: Explain what asymmetric information is.

A: Asymmetric information is aslo known as information failure, it occurs when one party to an economic…

Q: What are the two shortcomings of the direct write-off method?

A:

Q: Define red-line method

A: Answer: A red-line strategy is nothing but a tactic used for controlling the stock, as it is the…

Q: What are the three general problems associated with data redundancy?

A:

Q: What is Flip's Operating Cycle?

A:

Q: Problem with explanation.

A: Solution: Number of check-out clerks employed = 80 cost of check-out clerks = $800 per week…

Q: Explain the periodicity assumption.

A: Definition:   Generally Accepted Accounting Principles (GAAP): These are the guidelines necessary to…

Q: What are the classes of transcription errors?

A: Definition: Internal control: Internal control is a process which ensures continuous reliability of…

Q: Explain direct write off method.

A:

Q: Explain when to use the single-period model and when to use a multi-period model.

A: The difference between the two models is that the multi-period model may involve the stock leftovers…

Q: Discuss the correction of errors in more detail.

A: Errors in Accounting: Error is a mistake committed in book keeping.

Q: Name two different ways that MPTBs can be overcollateralized

A: The MPTBs are viewed as hybrid securities. Such bonds have qualities of mortgage backed bond (MBB)…

Q: Calculate the missing values +

A: Net income is the income which has been earned by the company during the year when all the expenses…

Q: Differentiate between fundamental and technical anomalies.

A: Market anomalies are exceptions to the hypothesis theory of market efficiency.

Q: what is double entry system ?

A: Double entry system of accounting is based on the accounting equation as follows: ASSETS = EQUITY…

Q: What are the different stages of the Double Entry System?

A: The accounting is a process to identify the business transactions, classify the business…

Q: Can you explain the formula for computing APR?

A: APR stands for Annual Percentage Rate and denotes the annual rate of interest on a loan or an…

Q: How can forwardrates be used for hedging purposes?

A: SOLUTION:- Risk management is the main stimulus for forward contracts. Forward contract is a…

Q: Define GAP Analysis

A: Gap Analysis is done by the company to fill the gaps and improve the performance of the company.…

Q: Explain an example of prepayments.

A: The outflow of money to reduce the liabilities occurred in the current accounting period refers to…

Q: Which of the following is a value-added activity? a.waiting b.inspection c.processing d.moving

A: "Since you have asked multiple questions, we will solve first question for you. If you want any…

Q: Why runaway gap (technical analysis) occur? Explain.

A: Introduction : The mentality underlying a runaway gap would be that dealers who missed the initial…

Q: What is the primary advantage of the multiple-step format?

A: Definition: Multi-step income statement: The income statement represented in multi-steps with…

Q: Define deferred call

A: Bonds are fixed-income securities issued by a company or government to raise capital from the…

Q: Distinguish between the single-rate and the dual-rate methods.

A: Cost Allocation: The process of assigning the cost to the cost object is cost allocation. The cost…

Q: find the period of deferral in this problem

A: Payments are made every 3 years. First payment occurs after 9 years.

Q: What is a just-in-time management system?

A: Cost management system:   The system or unit of the entity which is responsible for management of…

Q: Discuss the three common methods of handling errors in transaction files.

A: Errors in the books of accounting should be corrected as soon as possible, so that the financial…

Q: Explain an example of external events.

A: Accounting event is a transaction that is recorded in the books of accounts of the company. There…

Q: Explain the double entry mechanism with an illustrative example.

A: The transactions are recorded in the books of accounts initially in the form of journal entries…