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    Final Exam Multiple Choice Questions

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    USAco, a domestic corporation, sells widgets to its wholly-owned foreign subsidiary, FORco, for resale in country F. USAco charges FORco $17 for a widget that FORco resells for $21. The IRS makes a transfer pricing assessment, adjusting the price of a widget to what the IRS believes to be the arm's length price of $20. In response to this assessment, USAco can: ff ff f ff f f...

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    USAco, a domestic corporation, sells widgets to its wholly-owned foreign subsidiary, FORco, for resale in country F. USAco charges FORco $17 for a widget that FORco resells for $21. The IRS makes a transfer pricing assessment, adjusting the price of a widget to what the IRS believes to be the arm's length price of $20. In response to this assessment, USAco can:

    Answer - seek relief from double taxation from the U.S. competent authority only

    This report aimed to develop a critical understating of the various accounting software by evaluating the cloud-based accounting software in regards to businesses and then suggest the most appropriate accounting software to a chosen company such as Woolworth. The findings of the current report reflected that the company has key activities like manage, organize, maintain its store staff, develop various strategies for the business, billing for their products, maintain their transactions, and records them and handle their conflicts, etc. Similarly, its other activities related to revenue and expenditure cycle also includes sales and purchase related practices. Moreover, some internal controls are found weak in Woolworth due to which company has risks like segregation of duties, major frauds, poor corporate governance, improper monitoring of managerial opportunistic behavior.

    This report aimed to develop a critical understating of the various accounting software by evaluating the cloud-based accounting software in regards to businesses and then suggest the most appropriate accounting software to a chosen company such as Woolworth. The findings of the current report reflected that the company has key activities like manage, organize, maintain its store staff, develop various strategies for the business, billing for their products, maintain their transactions, and records them and handle their conflicts, etc. Similarly, its other activities related to revenue and expenditure cycle also includes sales and purchase related practices. Moreover, some internal controls are found weak in Woolworth due to which company has risks like segregation of duties, major frauds, poor corporate governance, improper monitoring of managerial opportunistic behavior.

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