Do you think that the managers of entities should be responsible for selecting the accounting methods and estimates they use, or should that responsibility be given to an independent third party? Explain your view. Make sure you consider both sides of the argument.
Answer to relevant QuestionsDo you think accounting would be more useful and relevant if only a single method of revenue recognition were allowed, such as when cash is collected or when the goods or services are provided to the customer? Explain.Identify and explain the two factors that influence the accounting choices that are made by the managers who prepare the financial statements.For each of the following long-term projects, provide a basis for estimating the percentage of the job that has been completed. The discussion in the text used the percentage of total estimated cost incurred during a year as ...In late December 2017 Kakisa Inc. made a large shipment of goods to a new customer. Kakisa had been in negotiations with the customer for some time and the final agreement was an important step in its planned expansion into ...Calculate the missing amounts (indicated by a question mark) using the information provided:
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