All categories

2 years ago

Martina advises her tax client, Breslin Baked Goods, to disclose a matter by

Business

1 answer:

Angelina_Jolie [31]2 years ago

6 0

Answer:The answer is B

Explanation:

The ethics of a profession are the rules and regulation put in place by the professional body for the profession to guide the conduct of each professionals in the practice of their profession. The ethics of the profession also specify the punishment that will be given to any members that break the rules set for them in code of professionals practice. The pratictioners in the performance of their duties must be objective, show high level of integrity, and must not be seen to be misrepresenting the facts.

The CPA are responsible for given professional advice to their client, they also prepare the tax returns of their client and also they help their client in filing their tax return with the tax authority (IRS). In this case, since Breslin has refused to disclose a matter, Martina has to terminate the engagement and report Breslin to the IRS office of professional responsibility. So that in the event that the IRS now discovered that Breslin Baked Good has not been paying the correct tax they supposed to pay to the government, Martina would have been free of the crime, because he has reported the matter to the IRS to free himself from the blame and not to be regarded as an accomplice in the crime.

You might be interested in

The number of taxicabs in Motorville and the taxicab fares are regulated. The fare currently charged is Rs.500 a ride. Motorvill

larisa86 [58]

Answer:

The answer is below

Explanation:

i) The price elasticity of demand is given by the formula:

$Price \ elasticity\ of \ demand=\frac{\Delta Q}{\Delta P} =\frac{\frac{Q_2-Q_1}{(Q_2+Q_1)/2} }{\frac{P_2-P_1}{(P_2+P_1)/2} } \\\\Price \ elasticity\ of \ demand=\frac{\frac{40-80}{(40+80)/2} }{\frac{600-500}{(600+500)/2} }=\frac{-2/3}{2/11} =3.667 (ignore \ the\ sign)$

Since the price elasticity of demand is greater than 1 hence it is elastic

ii) Since the price elasticity of demand is elastic as a result of increase in fare, hence the total revenue would decrease.

iii)

$Price \ elasticity\ of \ demand=\frac{\Delta Q}{\Delta P} =\frac{\frac{Q_2-Q_1}{(Q_2+Q_1)/2} }{\frac{P_2-P_1}{(P_2+P_1)/2} } \\\\Price \ elasticity\ of \ demand=\frac{\frac{120-80}{(120+80)/2} }{\frac{400-500}{(400+500)/2} }=\frac{0.4}{-2/9} =1.8 (ignore \ the\ sign)$

Since the price elasticity of demand is greater than 1 hence it is elastic

4 0

2 years ago

Record and analyze installment notes (LO9-2)

djyliett [7]

Answer:

January 1, 2021, building purchased

Dr Building 420,000

Cr Cash 100,000

Cr Notes payable 320,000

Explanation:

The building account (asset) must be recorded at the purchase cost. The mortgage is considered a note payable (long term liability), while the cash account (asset) decreases, therefore, it must be credited.

3 0

2 years ago

In the context of enterprise resource planning (ERP) systems, the most efficient and effective ways to complete a business proce

Ivenika [448]

Answer: best practices

Explanation: In context of Enterprise resource planning, the most efficient ways to conduct business activities are termed as best practices.

Best practices are those alternatives of doing an activity which are superior to other alternatives as they results in better conclusions than other options. These are generally seen as a techniques or a standard method of performing an activity.

3 0

2 years ago

Read 2 more answers

When the stock price follows a random walk the price today is said to be equal to the prior period price plus the expected retur

Bezzdna [24]

Answer:

e. None of the above.

Explanation:

When the stock price follows a random walk the price today is said to be equal to the prior period price plus the expected return for the period with any remaining difference to the actual return due <u>due to new information related to the stock"</u>. This is because any new information on stock which is unrelated to stock prices will lead to an increase/decrease in the stock price over a period of time.

3 0

2 years ago

Wendy, the CEO of an oil drilling company, and her top management team recently discovered that their facilities are damaging a

wel

Answer: Bagley's ethical leader's decision tree

Explanation: In simple words, It refers to a framework that helps the managers of an organisation to take decisions regarding which they are uncertain and doubtful. It take into consideration all the possibilities and shortlists them on the basis of situation priorities.

In the given case, Wendy wants to determine whether they should close the facility temprarily or permanently. They are uncertain which action would be legal and correct.

Hence from the above we can conclude that they are using Bagley decision tree.

5 0

2 years ago