d. The sales department approves sales credit memos as the result of product returns and forwards these to the AR department, which adjusts the customer accounts to reflect the return.

Q: What exactly does the word "noncontrolling interest" imply in this context?

A: Non-controlling Interest: Non-controlling interest is the equity not attributable, directly or…

Q: What is the effect of a Significant Deficiency? What is it?

A: Auditing means the inspection of financial accounts of the company to determine if the records are…

Q: What is fraud?

A: Misstatement risk: It implies to a risk that the financial statements of the company are…

Q: CFDs are more useful for speculation and not really useful for hedging? Do you agree

A: Contact for difference is a financial derivative which is an agreement to exchange the difference in…

Q: What are agency problems?

A: Owners of the company are shareholders. The number of the shareholders for a corporation will be…

Q: What items could increase the risk of material misstatement?

A: Risk of material misstatement (ROMM) is a risk that the financial statements when audited will…

Q: What can be understood by abnormal return?

A: Note firstly we understand what is meaning of abnormal return. Basic meaning of abnormal return is…

Q: What are the possible reasons for keeping incomplete records?

A: Incomplete records:   It refers to a situation where an organization does not use double entry book…

Q: Explain Deficiency Judgment?

A: To borrow funds, borrower might be required to mortgage its property to the lender. In case that…

Q: Why does FASB like the retrospective approach? Does it always have to be used?

A: The FASB stands for the Financial Accounting Standards Board. It is a non-profit organization that…

Q: Are there any nonfinancial advantages or disadvantages of changing to a JIT system

A: JIT is a method/management strategy that is used to reduce the cost of inventory and increase…

Q: How to address Yin’s statement and how to resolve the ‘not readily bound’ case.

A: Taming the Fuzzy Edges: Addressing Unbound Cases in Case Study ResearchCase studies, a cornerstone…

Q: What are some disadvantages of the APT?

A: APT is the abbreviation used for the arbitrage pricing theory. A theory or a model for asset pricing…

Q: Why is there a cost associated with reinvestedearnings?

A: There is some adaptability in the measure of funds that will be created from new reinvested earnings…

Q: When is independence impaired under PCAOB standards?

A: Independence would be considered to be impaired if a covered member accepts more than a token gift…

Q: Why is Decpreciaiton a Process of alloacation and not valuation?

A: Depreciation is an expense which shows the decrease in the value of depreciable assets due to its…

Q: MCMC and autocorrelation related to each other? If related, then what are the disadvantages…

A: GIVEN     MCMC and autocorrelation related to each other? If related, then what are the…

Q: Would the above decision change if they applied the IRR method? When do the two methods give…

A: Data given:   Scenario A Scenario B Year Free Cash Flow ($) Free Cash Flow ($) 0 -87000…

Q: What is Overt Discrimination?

A: Overt discrimination is an explicit display of unequal treatment given to a certain individual or…

Q: For practical applicationsas opposed to theoretical considerations, which ismore relevant, the CML…

A: Security market line (SML) or Capital market line (CML): The capital market line appears the…

Q: Does the use of ghost-ticking would violate what pillar of character?

A: Making a mark that suggests you confirmed them when you didn't would be called "ghost ticking."…

Q: What are the types of situations that result in troubleddebt?

A: Troubled debts can result in two different situations, which are as…

Q: What are the limitations on Control Activities?

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

Q: What are valid weaknesses of NPO?

A: Not for profit organization have certain weaknesses. some for them are- 1. Limited Purposes In order…

Q: What exactly is impairment? Could you provide an example?

A: THE ANSWER:

Q: Does the MM theory appear to be correct according to either empirical research or observations…

A: The question is based on the concept of Modigliani Miller (MM) approach of capital structure and…

Q: Why is the goodwill procedure best described as a revaluation procedure? No plagarism

A: The answer is provided as follows:

Q: What are some of the reasons that ABM implementation may lose the support of highermanagement?

A: ABM (account-based marketing) is a company marketing technique that focuses efforts on a small…

Q: What does a deficiency judgment mean?

A: Deficiency judgement refers as if borrower takes money from a lender and he is  fails to return back…

Q: What happened to the solutions to part  C and D? It seems they are not available.

A: Variance Analysis is a concept of Cost Accounting where the difference between the amounts of the…