A CPA who is employed by a nonaccounting corporation performs services for the employer, including auditing the employer's financial statements. Reports issued wit respect to such activities are distributed with the CPA's name and the CPA designation appearing on the corporate letterhead. These reports should
a. Be restricted to internal use
b. Make no reference to GAAS
c. Be on plain paper (not on the corporate letterhead)
d. Refer to an audit
Ans: b. Make no reference to GAAS
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Which of the following business plans matches with its appropriate length?
A) Operational business plan - 10-15 pages B) Full business plan - 25-35 pages C) Summary business plan - 25-35 pages D) Full business plan - 40-100 pages E) Operational business plan - 25-35 pages
Company P purchased an 80% interest in the Company S on January 1, 2016, for $600,000 . Any excess of cost is attributed to the Company's building with a 20-year life
The equity balances of Company S are as follows: January 1, 2016 December 31, 2019 Common stock, $10 par $100,000 $140,000 Other paid-in capital 200,000 280,000 Retained earnings 250,000 450,000 The only change in paid-in capital is a result of a 40% stock dividend paid in 2018 . The cost to simple equity conversion to bring the investment account to its December 31, 2019, balance is ____. a. $30,000 b. $136,000 c. $160,000 d. $256,000