Business Decisions and the Accounting Function

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Instructions:  Looking for some serious help in accounting
assignment.  I needed honestly and will
meet my dead line.  R
espond to the
following questions using grammatically correct language and appropriate APA
citations
. All questions need to be answer and with APA citations

Proficient-level:

-Identify and describe the three basic forms
of business organizations.

-What are the advantages and disadvantages of
each form of ownership?

Distinguished-level:

-Business entities can also be categorized by
the type of business activities they perform. Identify and describe the three
types. What do all three types have in common?

Question 2:

Proficient-level:

-Identify the primary objectives of every
business.

-What are the four basic financial statements
that measure the primary objectives of every business?

-Describe what information each statement
presents and which of the primary objective(s) can be met through the
information presented on the statement.

Distinguished-level:

-Describe the difference between an asset,
liability, and equity on a company’s balance sheet.

Question 3:

Proficient-level:

-Identify the framework for the entire
accounting process and describe its components and how they fit together to
form this framework.

Distinguished-level:

-Define the nature of an accounting
transaction and provide multiple examples of these transactions.

Question 4:

Proficient-level:

-To allow the accounting process to run
smoothly, accountants must rely on a set of underlying concepts or assumptions.
Identify and describe each of the five concepts or assumptions.

Distinguished-level:

-Match each of the concepts or assumptions to
one or more of the financial statements that it applies to.

Question 5:

Proficient-level:

-Many accounting transactions will apply to
one or more of the financial statements. In the case of the balance sheet,
multiple account types can be affected. For each of the following items,
provide an example of a transaction that would have the following effects on
the items in a firm’s financial statements. Provide five correct responses:

-Increase an asset; decrease some other asset.

-Increase an asset; increase a liability.

-Decrease retained earnings; decrease an
asset.

-Increase an asset; increase retained
earnings.

-Decrease an asset; decrease a liability.

-Increase a liability; decrease retained
earnings.

Distinguished-level:

-Correctly provide an example for all of the
effects on the items in a firm’s financial statements.

Question 6:

Proficient-level:

-Consider this scenario. James Stevens was
taking an accounting course at State University. Also, he was helping companies
find accounting systems that would fit their information needs. He advised one
of his clients to acquire a software computer package that could record
business transactions and prepare financial statements. The licensing agreement
with the software company specified that the basic charge for one site was USD
4,000 and that USD 1,000 must be paid for each additional site where the
software was used. James was pleased that his recommendation to acquire the
software was followed. However, he was upset that management wanted him to
install the software at eight other sites in the company and did not intend to
pay the extra USD 8,000 due the software company. A member of management
stated, “The software company will never know the difference and, besides,
everyone else seems to be pirating software. If they do find out, we will pay
the extra fee at that time. Our expenses are high enough without paying these
unnecessary costs.” James believed he might lose this client if he did not
do as management instructed. Discuss whether you believe this is an ethical
violation.

Distinguished-level:

-Identify any laws that may
have been broken as a result of this

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