Which of the following statements includes the most useful guidance for practicing accountants concerning the fasb accounting standards codification.
a) the codification includes only fasb statements.
b) the codification is the sole source of u. s. gaap, for nongovernmental entities.
c) the codification significantly modified the content of gaap when it became effective.
d) an accountant can be sure that all sec rules are included in the codification.

You are chairman of the board of a successful technology firm. there is a nominal federal corporate tax rate of 35 percent, yet the effective tax rate of the typical corporation is about 12.6%. your firm has been clever with use of transfer pricing and keeping money abroad and has barely paid any taxes over the last 5 years; during this same time period, profits were $28 billion. one member of the board feels that it is un-american to use various accounting strategies in order to avoid paying taxes. others feel that these are legal loopholes and corporations have a fiduciary responsibility to minimize taxes. one board member quoted what the ceo of exxon once said: “i’m not a u. s. company and i don’t make decisions based on what’s good for the u. s.” what are the alternatives? what are your recommendations? why do you recommend this course of action?

An instance where sellers should work to keep relationships with customers is when they instance where selllars should work to keep relationships with customers is when they feel that the product

During which of the following phases of the business cycle does the real gdp fall? a. trough b. expansion c. contraction d. peak