Answered: Pacific cruise lines is a defendant

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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39. National defence is a public good. From an economics perspective, why is national defence supplied outside the normal market mechanism? Because the benefits of national defence cannot be confined to citizens who can afford to py Because it is ethical to ensure all citizens benefit equally from national defence Because the provision of national defence is essential and cannot, therefore, be left to private initative Because the use of national defence by some citizens significantly reduces the amount of national defence available to others 40. FreeFree plc manufacturers maintain computers and Ibrahim is a planner in its Quality Assurance Department. In terms of Mintzberg's descreprion of organizational structure, to which of FreeFree plc's 'building blocks' does Inbrahim belong? Support staff Middle line Operating core Technostructure
An investor or creditor believes that they have suffered harm due to the unexpected the bankruptcy of a large corporation: Required: Can that investor or creditor sue the auditor of the large corporation under contract law? Explain. If the investor or creditor chooses to sue the auditor of the large corporation under tort law, what must they prove before their claim can succeed? How can the auditor contest a claim of negligence?
Laux and Leuz (2009) argue that “the fair value debate is far from over and much remains to be done” (p.833). write in detail
How can a company use a bankruptcy to abrogatelabor contracts? Has this occurred in certain industries in recent years?
Reporting an investment at its fair value means adjusting its carrying amount for changes in fair value afterits acquisition (or since the last reporting date if it was held at that time). Such changes are called unrealizedholding gains and losses because they haven’t yet been realized through the sale of the security. If the security isclassified as available-for-sale, how are unrealized holding gains and losses typically reported?
If a trademark is developed internally, it cannot be recognized as an intangible asset on the statement of financial position. True or False
True or FalseIt is a well-established principle that the contents of the bylaws that contravene the Constitution and the laws of the land are deemed void; and that in case of contradiction to any of the provisions of the articles of incorporation, the By-Laws' provision/s shall prevail.
ABC Inc. and XYZ Corporation are sister companies with the same set of officers. May ABC Inc be liable for the obligation of XYZ Corporation? Explain.
If a company in the United States sells a product to another country it is considered a/an If a company from the United States buys a product from another country it is considered a/an O Import, Export O Export, Import O Embargo, Export O Tariff, Import Quota
A trustee for a company that is being liquidated voids a preference transfer. What has happened, and why did the trustee take this action?
There has been no precedent of parent corporation being held liable for the liability of its subsidiary corporation True False

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