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vagabundo
1 month ago
13

Martina advises her tax client, Breslin Baked Goods, to disclose a matter by attaching a special form to its corporate tax retur

n. Breslin refuses and threatens to replace Martina with another CPA. Which statement best describes what Martina should do under the tax profession's ethics standards in this situation? Consider whether to withdraw from the engagement and reevaluate the relationship. Terminate the engagement and report Breslin to the IRS Office of Professional Responsibility. Draft a memo for the files indicating that Breslin is a difficult client File the return in the manner specified by the client (without the disclosure).
Business
1 answer:
Mariulka [3.8K]1 month ago
7 0

Answer: Martina needs to create a memo to document that Breslin is a challenging client.

Explanation: According to the ethical standards in tax practice, it is essential to comply with the regulations governing the profession, particularly those set by the AICPA (American Institute of Certified Public Accountants). This implies that to maintain ethical conduct, one's practice must adhere to established professional guidelines.

Since Martina is obligated to act ethically and uphold her client's interests, she must communicate as per her client's wishes while noting that Breslin is problematic to ensure her disclosure appears professional and to protect her license.

Failing to manage a difficult client may be regarded as unprofessional. It is also seen as unprofessional for Martina to contemplate quitting or being dismissed due to inadequate job performance.

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Consider an 8% coupon bond selling for $953.10 with three years until maturity making annual coupon payments. the interest rates
arsen [3447]

Answer:

a) YTM = 9.8%

b) realized compound yield = 9.9%

Explanation:

a) PMT is 80

par value FV = 1000

coupon rate = 8%

current price PV = 953.1

years to maturity n = 3

Yield to maturity (YTM) is calculated as \frac{PMT+(FV-PV)/n}{(FV+PV)/2} = \frac{80+(1000-953.1)/3}{(1000+953.1)/2}= 9.8%

b) r2 = 10% = 100%+10% = 1.1

r3 = 12% = 100%+12% = 1.12

To find the realized compound yield, we first need the future value (FV) of the principal and reinvested coupons.

FV = ($80 * 1.10 * 1.12) + ($80 * 1.12) + $1080 = $1268.16

Let a be the rate at which the future value equals $1268.16.

953.1(1+y)³ = $1268.16

(1+y)³ = 1.33

1+y = 1.099

y = 0.099 = 9.9%

5 0
1 month ago
Which analogy best represents the relationship between jobs and careers?
Scilla [3833]

Response:

A career can be likened to a "building block," whereas a job can be compared to a "castle or a tower"

8 0
23 days ago
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The firm initially produced 500 pants and 700 shirts. If the firm decides to increase the number of shirts by 100 units, the opp
Free_Kalibri [3773]
<span>If the business opts to raise shirt production by 100 units, the corresponding opportunity cost will be 200 pairs of pants. Should the firm be at point E and choose to boost shirt output by 500 units, the opportunity cost rises to 400 pairs of pants.</span>
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1 month ago
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p. 82) Which of the following is NOT a limitation of SWOT (Strengths, Weaknesses, Opportunity, Threats) analysis? A. Organizatio
Nady [3600]

Answer:

The proper choice is option "B": SWOT's extensive and integrative focus on the external environment.

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The SWOT analysis examines both internal and external factors that affect a company's functioning, offering opportunities to leverage strengths or manage risks. Here, internal factors refer to Strengths and Weaknesses, while external factors encompass the Opportunities and Threats faced by the business.

The broad and integrative approach of SWOT towards the external environment is a strength and not a weakness of this framework.

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1 month ago
Given the pork supply function Q = 178 + 40p - 60p_h. how does the supply function, Q = 88 + 40p. change if the price of hogs in
Scilla [3833]

Answer:

Explanation:

The supply equation for pork is expressed as Q = 178 + 40p - 60p_h

For a hog price of 1.50:

Q = 178 + 40p - 60(1.50)

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If the price of hog rises to 1.90:

Q = 178 + 40p - 60(1.90)

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8 0
14 days ago
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