related party transactions

Q: Define special purpose entity (SPE)

A: A special purpose entity is a legally separate enterprise that bears liability to an organization.…

Q: ine Internal Control CORIT DIT E

A: 1.  Internal control—a process affected by a college or university's governing board,…

Q: Define specific identification

A: Method of Inventory: Inventory refers to the current assets that a company expects to sell during…

Q: transaction, an event, and an arrangement.

A: Transaction, event and arrangement are commonly used in business or life to denote certain…

Q: Define inter vivos trust.

A: Inter vivos Trust: An inter vivos trust is a kind of trust which is made in the lifetime of grantor.…

Q: The acco

A: Accounting equation has been considered as the origination of double entry accounting system. This…

Q: ofit

A: Note : As per the bartelby guidelines only first question will be answered. Kindly post the…

Q: Define Goodwill.

A: Goodwill refers to the intangible asset which arises when buyer acquires the existing business.

Q: What can be understood from Integrated disclosure system.

A: Integrated disclosure system: It is an update in the security exchange commission’s guidelines to…

Q: What is AB Share Mechanism and what is this mechanism used for?Provide Example

A: An organization's total capital is bifurcated into many units. Each unit represents ownership in the…

Q: Match each transaction with its related term: Terms Definitions

A: Adjusting entries: Adjusting entries are those entries which are recorded at the end of the year, to…

Q: Define rights offering

A: A rights offering is an offer made by a Company to issue additional stock to the existing…

Q: ividend declaration

A: Property dividends are paid out of retained earnings. So, the journal entry is passed where retained…

Q: Subsidiary ledger

A: Ledger Account The purpose of preparing the ledger account to know the ending balance which are…

Q: Who is considered a related party when we refer to related party transactions

A: Transactions where the client or the client's top management is related to each other or where the…

Q: fundamentals

A: Fundamentals of accounting: Accounting is the procedure of data entry and recording, summarizing,…

Q: Define Franchise.

A: There are several forms of business like the sole proprietorship, partnership and corporation which…

Q: Explain the term Voluntary Conveyance

A: Voluntary Conveyance: Voluntary conveyance is defined as an elective transmission of title from one…

Q: example of assets

A: Assets represents the resources of an entity that are used for generation of resources of the…

Q: Define Pooling of interests method

A: The pooling of interest is a technique used for the M&A between two companies. In this method,…

Q: Define regulation D

A: The Accounting Standards are specific set of principles and procedures set by the authorized bodies…

Q: Define underwritten arrangement

A: Underwritten arrangement is the type of arrangement between investment banker and company in which…

Q: Define Express Trust.

A: The express trust refers to the contract which is derived from the donor wishes or to settlor in the…

Q: Information

A: The cost of goods manufactured (COGM) is the sum of the cost of direct labor used, the cost of…

Q: Prepare an inc

A: In this problem we need to calculate operating income from the given…

Q: Define charter

A: Introduction: Charters are legalized documents that lawfully set up corporate companies. Only…

Q: Define the term operating activities.

A: Operating activities are the functions of a business directly related to providing its goods and/or…

Q: important to manage transaction exposure

A: The RISK - posed by firms participating in international commerce that currency exchange rates will…

Q: Mutual agency is defined

A: In a partnership, two or more parties agree to operate and manage a business and share the profits…

Q: assertions

A: Audit Assertions are claims made by management through financial statements and those are tested by…

Q: What is an internal exchange transaction, and how is it reported?

A: Internal exchange transactions are those reciprocal exchange transactions that occur between funds…

Q: Define the term Acquisitions.

A: An acquisition is when one company purchases most or all of another company's shares to gain control…

Q: ment-mandated non-exchange transactions.

A: Given: To explain the correct option as,

Q: Define S corporation

A: The S corporation is a tax election that legal business entities can choose to elect for taxes…

Q: audit

A: Not likely to a violation     as auditor can show his work to any outsider if required by law

Q: Define license.

A: A license is a official permission in written given by licensor to use or do for which permission is…

Q: Explain consignment arrangement with example.

A: Goods in transit: Goods in transit can be described as the inventories which are shipped by the…

Q: internal controls

A: Financial statements may be manipulated by the employees of the organization to exploit…

Q: Define vesting

A: The process by which a secured the right of present or future deployment is given to the holder…

Q: When does an activity be part of related party transaction?

A: Related party: Related party refers to the person that is related to an entity. A person or a close…

Q: Define transaction

A: A transaction is an instance of buying or selling something.

Q: Define Transaction exposure

A: Transaction exposure is the sensitivity of realized domestic currency values of the firm's…

Q: Define patents.

A: A patent is the granting of a property right by a sovereign authority to an inventor. This grant…

Q: A vendor

A:

Q: Define subsidiary

A: A corporation refers to a legal entity that is completely distinct from its owners. It is allowed to…

Management Information Systems

While undertaking any business decisions, data is the most important aspect. An information system (IS) is a set of data, computing devices and management methods that support routine company operations. A management information system (MIS) is a specific subset of IS.