1. The accounting firm of Adams, Best & Company (AB&C) prepared financial statements for Brylee's Fashions, Inc. After reviewing the various financial statements, Dan State Bank agreed to loan Brylee's Fashions $35,000 for expansion. When Brylee's Fashions declared bankruptcy under Chapter 11 six months later, Dan State Bank promptly filed an action against AB&C alleging negligent preparation of financial statements. Assuming that the court has abandoned the Ultramares approach, what is the result? What are the policy reasons for holding accountants liable to third parties with whom they are not in privity?
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Business, 21.06.2019 20:20
Miller mfg. is analyzing a proposed project. the company expects to sell 8,000 units, plus or minus 2 percent. the expected variable cost per unit is $11 and the expected fixed costs are $287,000. the fixed and variable cost estimates are considered accurate within a plus or minus 5 percent range. the depreciation expense is $68,000. the tax rate is 32 percent. the sales price is estimated at $64 a unit, plus or minus 3 percent. what is the earnings before interest and taxes under the base case scenario?
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Business, 22.06.2019 12:50
Two products, qi and vh, emerge from a joint process. product qi has been allocated $34,300 of the total joint costs of $55,000. a total of 2,900 units of product qi are produced from the joint process. product qi can be sold at the split-off point for $11 per unit, or it can be processed further for an additional total cost of $10,900 and then sold for $13 per unit. if product qi is processed further and sold, what would be the financial advantage (disadvantage) for the company compared with sale in its unprocessed form directly after the split-off point?
Answers: 2
Business, 23.06.2019 05:50
Ineed the answer today! explain how inflation can be built into the system
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Business, 23.06.2019 07:00
Select all of the tools you could use to track your expenses. -budget software -spreadsheet -mint© -automatic bill payment -mvelopes®
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1. The accounting firm of Adams, Best & Company (AB&C) prepared financial statements for Bry...
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