ACCT 2020- Midterm Exam Guide - Comprehensive Notes for the exam ( 34 pages long!)
16 Feb 2018
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If facing ethical conduct, first follow org established policies (internally solve) Audit committee, exec committee, then involve outside parties b. Recently bias- happened sooner, its in your mind more than further away events iv. Indirect labor- ex janitor in warehouse, supervisor (isnt. Costs that do not change no matter what month sales are. Rent of building (pay regardless of activity level) Cant just stop paying it without ramifications, goes on for years. Car manu starts building plant, cant just stop paying for it 2/3 of the way th doesn"t have revenue to offset price of plant. Advertising costs, if have a bad quarter then can cut back on advertising, al costs, will be ok short term but not long term st of shipping rred to get customer to buy product. , accounting/legal department ay through bc g, also training costs, will be ok short term but not long term. Takes highest and lowest data point and finds corresponding value.
