1-8 Dollar General Corporation operates deep-discount stores offering housewares, cleaning supplies, clothing, health and beauty aids, and packaged food, with most items selling for $1. Its business model calls for keeping costs as low as possible. The company has no automated method for keeping track of inventory at each store. Managers know approximately how many cases of a particular product the store is supposed to receive when a delivery truck arrives, but the stores lack technology for scanning the cases or verifying the item count inside the cases. Merchandise losses from theft or other mishaps have been rising and now represent more than 3 percent of total sales. What decisions have to be made before investing in an information system solution?

Identify the accounting assumption or principle that is described below. (a) select the accounting assumption or principle is the rationale for why plant assets are not reported at liquidation value. (note: do not use the historical cost principle.) (b) select the accounting assumption or principle indicates that personal and business record-keeping should be separately maintained. (c) select the accounting assumption or principle assumes that the dollar is the "measuring stick" used to report on financial performance. (d) select the accounting assumption or principle separates financial information into time periods for reporting purposes. (e) select the accounting assumption or principle measurement basis used when a reliable estimate of fair value is not available. (f) select the accounting assumption or principle dictates that companies should disclose all circumstances and events that make a difference to financial statement users.

Alicia has a collision deductible of $500 and a bodily injury liability coverage limit of $50,000. she hits another driver and injures them severely. the case goes to trial and there is a verdict to compensate the injured person for $40,000 how much does she pay?

Agovernment receives a gift of cash and investments with a fair value of $200,000. the donor specified that the earnings from the gift must be used to beautify city-owned parks and the principal must be re-invested. the $200,000 gift should be accounted for in which of the following funds? a) general fund b) private-purpose trust fund c) agency fund d) permanent fund