Questions for the Opening Vignette Why is it important for IRS and for U.S. state governments to use data warehousing and business intelligence (BI) tools in managing state revenues? What were the challenges the state of Maryland was facing with regard to tax fraud? What was the solution they adopted? Do you agree with their approach? Why? What were the results that they obtained? Did the investment in BI and data warehousing pay off? What other problems and challenges do you think federal and state governments are having that can benefit from BI and data warehousing? What We Can Learn from

Answer:

I have typed each answer under it's corresponding question for easier understanding.

Explanation:

1. Why is it important for IRS and for U.S. state governments to use data warehousing and business intelligence (BI) tools in managing state revenues?

using Bi tools allows for better analysis and this woiuld make understanding and governance to be easier for the government. revenues can be very complex and difficut to understand but business intelligence tools can make it easier.

2. What were the challenges the state of Maryland was facing with regard to tax fraud?

the state of maryland was having issues with tax fraud  due to fraudulent returns and they were having problems detecting and investigating this because of how time consuming the process was.

3. What was the solution they adopted?

As a solution the state used a data warehouse from teradata. this gave them the opportunity to be able to identify and trace data that showed patterns of fraudulent returns. priority was made to go after refund fraud.

4. Do you agree with their approach? Why?

yes i agree with their approach. the reason is because the use of this tools in tracing tax fraud was an efficient way of tracing the problem and through the results appropriateways on how to combat the problem would be adopted.

5. What were the results that they obtained? Did the investment in BI and data warehousing pay off?

through the use of these tools the state was able to recover about 7 million dollars. therefore the investment paid off.

6. What other problems and challenges do you think federal and state governments are having that can benefit from BI and data warehousing?

some other problems that the government is having which can benefit  from these tools are

a. voter fraud

b. medical usage

c. other forms of tax issues.

oca, Inc., manufactures and sells two products: Product M6 and Product X7. The company has an activity-based costing system with the following activity cost pools, activity measures, and expected activity: Activity Cost Pools Activity Measures Estimated MOH Cost Expected Activity Product M6 Product X7 Total Labor related DLH $152,100 3,000 4,800 7,800 Product orders orders $63,035 400 300 700 Order size Machine hours $505,452 3,700 3,600 7,300 The total overhead to be applied to Product X7 using activity-based costing is closest to:

The following production and average cost data for two levels of monthly production volume have been supplied by a company that produces a single product: Production Volume Component 950 units 750 units Direct materials $17.00 per unit $17.00 per unit Direct labor $39.61 per unit $50.17 per unit Manufacturing overhead $18.08 per unit $20.10 per unit Round your answers to the nearest dollar. Fill in the blank without $ sign or comma or period, e.g., 12345 The approximate total cost to manufacture 850 units is:

15. Your company contracted for a 30-second commercial (an advertisement) that aired during the Super Bowl at a cost of $1.2 million. It is legally obligated to pay for the commercial, but has not yet done so. How is your company's balance sheet affected on the day the commercial aired? It increases both assets and liabilities by $1.2 million. It increases assets and decreases stockholders' equity by $1.2 million each. It does not affect the balance sheet. D) It increases liabilities and decreases stockholders' equity by $1.2 million each.

Barton and Fallows form a partnership by combining the assets of their separate businesses. Barton contributes accounts receivable with a face amount of $48,000 and equipment with a cost of $193,000 and accumulated depreciation of $103,000. The partners agree that the equipment is to be priced at $90,000, that $3,100 of the accounts receivable are completely worthless and are not to be accepted by the partnership, and that $1,300 is a reasonable allowance for the uncollectibility of the remaining accounts receivable. Fallows contributes cash of $28,700 and merchandise inventory of $56,000. The partners agree that the merchandise inventory is to be priced at $60,500.Journalize the entries to record in the partnership accounts (a) Barton's investment and (b) Fallows' investment. If an amount box does not require an entry, leave it blank or enter "0".

The Candle Shop experienced the following events during its first year of operations, Year1
1. Acquired cash by issuing common stock
2. Paid a cash dividend to the stockholders.
3. Paid cash for operating expenses.
4. Borrowed cash from a bank.
5. Provided services and collected cash.
6. Purchased land with cash.
7. Determined that the market value of the land is higher than the historical cost.
Required
a. Indicate whether each event is an asset source, use, or exchange transaction. (Select "NA" if there is no effect on the "Activity classification") Event Activity classification 2. 3. 4. 5. 6. 7
b. Use a horizontal statements model to show how each event affects the balance sheet, income statement, and statement of cash flows. Indicate whether the event increases (), decreases (D), or does not affect (NA) each element of the financial statements. Also, in the Statement of Cash Flows column, classify the cash flows as operating activities (OA), investing activities (IA), financing activities (FA), or not applicable (NA). The first transaction is shown as an example
THE CANDLE SHOP Horizontal Statements Model for Year 1 Balance Sheet Income Statement Statement of Cash Flows Event O. Assets Liabilities+Stockholders' Equity Effect onType CommonRetained RevenueExpense Net Income Cash LandNotes Cash Activity Earnin +NA Payable +NA = | NA NA - NA -INA FA 2 4 5. 7

TeleGlobal is an American firm producing TV sets. TeleGlobal imports TV set components from Taiwan and assemb them domestically. Suppose that in the United States, a TV set sells for $500 and that 80% of the TV set's value comes from the value of the imported components. The United States imposes a 30% tariff on TV sets and a 10% tariff on the TV set's components. Assume that costs of producing components are the same in the United States a Taiwan. Based on the information provided, the effective rate of protection that TeleGlobal receives from the tariff is:__________.
a. -17.5%
b. 70.0%
c. 110.0%
d. 24.4%
e. 47.5%

A dry cleaner uses exponential smoothing to forecast equipment usage at its main plant. August usage was forecasted to be 46 percent of capacity; actual usage was 56 percent of capacity. A smoothing constant of .05 is used.
a. Prepare a forecast for September. (Round your final answer to 2 decimal places.) Forecast for September percent of capacity
b. Assuming actual September usage of 64 percent, prepare a forecast for October usage. (Round your answer to 2 decimal places.) Forecast for October percent of capacity

Tracy Company, a manufacturer of air conditioners, sold 200 units to Thomas Company on November 17, 2021. The units have a list price of $550 each, but Thomas was given a 30% trade discount. The terms of the sale were 3/10, n/30. Exercise 7-5 (Algo) Part - 1 Required: 1. Prepare the journal entries to record the sale on November 17 (ignore cost of goods) and collection on November 26, 2021, assuming that the gross method of accounting for cash discounts is used. 2. Prepare the journal entries to record the sale on November 17 (ignore cost of goods) and collection on December 15, 2021, assuming that the gross method of accounting for cash discounts is used.

Last week, an investigative reporter for a major metropolitan newspaper discovered that the doctors conducting clinical trials of a new cancer treatment drug are also the principal shareholders in Cancer Solutions Inc. (CSI). CSI is the company developing and attempting to market the drug. Upon being interviewed by federal authorities, the doctors acknowledged their conflict of interest but reported that they were sold the shares at a 75% discount by CSI's chief financial officer. The CFO was concerned that CSI might not be able to meet its annual performance objectives and in turn pay his anticipated multimillion-dollar bonus.
Does an agency conflict exist between CSI's CFO and the company's shareholders?
a. Yes; CSI's CFO engaged in unethical conduct to manipulate the firm's short-term earnings and improve the likelihood of receiving his annual bonus.
b. Yes; the shares should not have been sold at a 75% discount, which is price discrimination.
c. No; professionals, such as doctors and professional money managers, would not participate in unethical activities.
d. No; in general, shareholders are satisfied with company officers engaging in any type of legal or illegal activity to ensure the chances of them receiving greater dividend payments.
Which of the following actions will help ease agency conflicts and better align managers' objectives with the firm's shareholder wealth?
a. Pay the manager a combination of salary and stock options (phased in over several years) that reward him or her for consistently increasing shareholder wealth.
b. Pay the manager a large base salary with a huge stock option package that matures on a single date.
Amalgamated Metals Corporation's stockholders are mostly individual investors, and there is relatively little institutional ownership. If several pension and mutual funds were to take large positions in Amalgamated Metals Corporation's stock, direct shareholder intervention would be___________ likely to motivate the firm's management.

how do you understand the word business finance?​

Bruce Church, Inc. is a company engaged in extensive commercial farming in Arizona and California. A provision of the Arizona Fruit and Vegetable Standardization Act requires that all cantaloupes grown in Arizona "be packed in regular compact arrangement in closed standard containers approved by the supervisor." Arizona, through its agent Pike, issued an order prohibiting Bruce Church from transporting uncrated cantaloupes from its range in Parker, Arizona, to nearby Blythe, California, for packing and processing. It would take many months and $200,000 for Bruce Church to construct a processing plan int Parker. Further, Bruce Church had $700,000 worth of cantaloupes ready for transportation. Bruce Church filed suit in federal district court challenging the constitutionality of the Arizona statutory provision on shipping cantaloupes. The court issued an injunction (essentially saying the statute was not constitutional) against the enforcement of the act on the grounds that it was an undue hardship on interstate commerce. Answer the following questions: 1. What is the Commerce Clause? 2. Will the Arizona regulation withstand Commerce Clause scrutiny? Why or why not?

Blossom Corporation had income from continuing operations of $10,895,300 in 2020. During 2020, it disposed of its restaurant division at an after-tax loss of $194,400. Prior to disposal, the division operated at a loss of $321,800 (net of tax) in 2020 (assume that the disposal of the restaurant division meets the criteria for recognition as a discontinued operation). Blossom had 10,000,000 shares of common stock outstanding during 2020. Prepare a partial income statement for Blossom beginning with income from continuing operations. (Round earnings per share to 2 decimal places, eg. 1.48.)
BLOSSOM CORPORATION
Income Statement (Partial) $

Question 7: Which of the following is true about entrepreneurs and risk?

A. Entrepreneurs take more risks than the average person.
B. Risk is an objective assessment.
C. Entrepreneurs who take greater risks tend to be more successful than those who take fewer or smaller risks.
D. Most successful entrepreneurs are very calculated risk takers

Fluffy Pet Groomingdeposits all cash receipts on the day when they are received and all cash payments are made by check. At the close of business on June 30, its Cash account shows a $14,811 debit balance. Fluffy Pet Grooming's June 30 bank statement shows $14,472 on deposit in the bank. Prepare a bank reconciliation for Fluffy Pet Grooming using the following information: a. Outstanding checks as of June 30 total $2,261. b. The June 30 bank statement included a $75 debit memorandum for bank services. c. Check No. 919, listed with the canceled checks, was correctly drawn for $789 in payment of a utility bill on June 15. Fluffy Pet Grooming mistakenly recorded it with a debit to Utilities Expense and a credit to Cash in the amount of $798. d. The June 30 cash receipts of $2,534 were placed in the bank's night depository after banking hours and were not recorded on the June 30 bank statement. What is the adjusted bank balance

Candlewood LLC started business on September 1, and it adopted a calendar tax year. During the year, Candlewood incurred $6,500 in legal fees for drafting the LLC's operating agreement and $3,000 in accounting fees for tax advice of an organizational nature, for a total of $9,500 of organizational costs. Candlewood also incurred $30,000 of preopening advertising expenses and $24,500 of salaries and training costs for new employees before opening for business, for a total of $54,500 of startup costs. The LLC wants to take the largest deduction available for these costs. If required, round any division to six decimal places and use in subsequent computations. Round your final answers to the nearest dollar. How much can Candlewood deduct as organizational expenses

A manufacturing plant produces and markets two product lines: surfboard equipment and sailboard equipment. An example of indirect cost for the surfboard equipment line is the ________. Group of answer choices beverages provided daily in the plant break room for the entire staff research and development cost for the surfboard equipment material used to make the surfboard salaries of the clerical staff that work in the company administrative offices sales and marketing expenses incurred for both products

Asset management ratios are important - firms need to manage assets efficiently because capital obtained to acquire those assets is expensive. These ratios include the: (1) Inventory turnover ratio, (2) Days sales outstanding, (3) Fixed assets turnover, and (4) Total assets turnover. The inventory turnover ratio indicates how many times during the year inventory is -Select- and restocked. Its equation is: Excess inventory is unproductive and represents an investment with a -Select- rate of return. An alternative definition of the inventory turnover ratio replaces sales in the numerator with -Select- . The rationale for this measurement is that inventory is carried at cost, so sales in the numerator overstates the true inventory turnover ratio. The days sales outstanding (DSO) ratio is also called the average collection period (ACP). Its equation is:

Which of the following statements are true? Explain.a. A lower allocation to the risky portfolio reduces the Sharpe (reward-to-volatility) ratio.b. The higher the borrowing rate, the lower the Sharpe ratios of levered portfolios.c. With a fixed risk-free rate, doubling the expected return and standard deviation of the risky portfolio will double the Sharpe ratio.d. Holding constant the risk premium of the risky portfolio, a higher risk-free rate will increase the Sharpe ratio of investments with a positive allocation to the risky asset.

2.
Is marketing always appropriate for political candidates? Why or why not?
​

You are planning to save for retirement over the next 25 years. To do this, you will invest $730 per month in a stock account and $330 per month in a bond account. The return of the stock account is expected to be 9.3 percent, and the bond account will pay 5.3 percent. When you retire, you will combine your money into an account with a return of 6.3 percent. How much can you withdraw each month from your account assuming a 20-year withdrawal period? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Following are the transactions of Sustain Company. June1 T. James, owner, invested $11,000 cash in Sustain Company in exchange for common stock. 2 The company purchased $4,000 of furniture made from reclaimed wood on credit. 3 The company paid $600 cash for a 12-month insurance policy on the reclaimed furniture. 4 The company billed a customer $3,000 in fees earned from preparing a sustainability report. 12 The company paid $4,000 cash toward the payable from the June 2 furniture purchase. 20 The company collected $3,000 cash for fees billed on June 4. 21 T.James invested an additional $10,000 cash in Sustain Company in exchange for common stock. 30 The company received $5,000 cash from a client for sustainability services for the next 3 months. Prepare general journal entries for the above transactions.

On January 1, 2021, Kat Corp. granted an employee an option to purchase 60,000 shares of Kat's $5 par common stock at $20 per share. The options became exercisable on December 31, 2022, after the employee completed two years of service. The option was exercised on January 10, 2023. The market prices of Kat's stock were as follows: January 1, 2021, $30; December 31, 2022, $50; and January 10, 2023, $45. An option pricing model estimated the value of the options at $8 each on the grant date. For 2021, Kat should recognize compensation expense of: a. $ 0. b. $ 240,000. c. $ 300,000. d. $ 600,000

Serge stayed at a bed and breakfast in a mountain town. The bed and breakfast provides food and a comfortable
room for Serge each night after he skis and hikes in the mountains. What term best describes the role of the bed
and breakfast
hospitality
tourism
O sightseeing
recreation

objective of management​

John discovered his company's accountant was "skimming" money from the business. The accountant agreed to pay John a one-time payment of $25,000 not to report the skimming to company officials. The accountant promised she would pay the money back when she could. John accepted the money and never reported what he knew. A year later the accountant was fired when the accountant’s actions were discovered, she was also prosecuted for theft. The payment to John was never discovered. Which statement is correct?

HELP ME PLSSS SOMEONE HELPP

tom sold 3 cars ( a total value of $112,500) in the month of january. it is paid only by commission for its seller. he receives a commission of 7%. what is tom’s salary for the month of january?

Andreas Broszio​ (Geneva). Andreas Broszio just started as an analyst for Credit Suisse in​ Geneva, Switzerland. He receives the following quotes for Swiss francs against the dollar for​ spot, 1 month​ forward, 3 months​ forward, and 6 months forward. Spot exchange​ rate: Bid rate SF1.2573​/$ Ask rate SF1.2599​/$ ​1-month forward 10 to 15 ​3-months forward 14 to 22 ​6-months forward 20 to 30 The current​ one-year U.S.​ T-Bill rate is 4.1%. a. Calculate outright quotes for bid and ask and the number of points spread between each. b. What do you notice about the spread as quotes evolve from spot toward 6​ months?

Sheridan Decorating uses a job order cost system to collect the costs of its interior decorating business. Each client’s consultation is treated as a separate job. Overhead is applied to each job based on the number of decorator hours incurred. Listed below are data for the current year. Estimated overhead $1,040,000 Actual overhead $1,039,800 Estimated decorator hours 40,000 Actual decorator hours 39,500 The company uses the account Operating Overhead in place of Manufacturing Overhead and the account Service Contracts in Process in place of Work in Process. Compute the predetermined overhead rate. Predetermined overhead rate

Calculate GDP, NDP, NI, PI, and DI from the following information. All numbers are in billions of dollars. Wages $ 26,500 Consumption Expenditures $36,000 Government Expenditures $18,500 Imports $20,330 Exports $18,580 Property Taxes $16,000 Sales Taxes $9,715 Retained earnings $1,310 Personal Income Taxes $2,200 Private Domestic Investment Expenditures $15,650 Interest Income $1,940 Pay Roll taxes $1,300 Transfer Payments $880 Depreciation $1,300 Net Income Made Abroad by Americans $160 Indirect Business taxes $2,520 Corporate Income Taxes $320 2. Calculate a) labor force, b) labor force participation rate, and c) unemployment rate if the population of a country is 380 million people out which 92 million are under the age of 16, 58 million don't want to work and 20 million are looking for work. 3. Calculate the inflation rate from 2004-2005 if the index number in 2005 was 120 and the index number in 2004 was 135.

X Corporation reported the following data for the month of August: Inventories: Beginning Ending Raw materials $36,000 $24,000 Work in process $23,000 $17,000 Finished goods $37,000 $55,000 Additional information: Budgeted manufacturing overhead cost $672,000 Budgeted direct labor cost $1,680,000 Raw materials purchased $79,000 Manufacturing overhead cost incurred $51,975 Indirect materials included in manufacturing overhead cost incurred $8,000 Manufacturing overhead cost applied to Work in Process using direct labor cost 37800 Job #82 started in August Direct materials used $4,000 Direct labor cost $6,000 Round your answers to the nearest dollar. Fill in the blank without $ or comma or period, e.g., 12345 What was Job# 82's total manufacturing cost in August using normal costing?