The Federal Sentencing Guidelines Have Been the Subject of Recent

question 14

Multiple Choice

The Federal Sentencing Guidelines have been the subject of recent Supreme Court rulings, which have:

• A)upheld their legality.
• B)denied the use of the guidelines only when based on evidence not proven in court.
• C)required the prosecutor to not use enhanced sentence provisions.
• D)ruled that judges must have the ability to use some discretion in sentencing.

Distinguish between different types of revenues and how they are recognized.

Understand the concept of accrued expenses and revenues and how to adjust for them.

Know the sequence for preparing financial statements.

Recognize the role and characteristics of the adjusted trial balance in the preparation of financial statements.

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Definitions:

Net Present Value

An economic measure that determines the disparity between the current value of cash coming in and the current value of cash going out over a specific timeframe.

Internal Rate Of Return

The break-even discount rate at which a project's cash flows net present value is zero.

Present Value

Present value represents the contemporary worth of a future sum or cash flow sequence, discounted by a certain return rate.

Payback Method

A capital budgeting technique that calculates the amount of time required to recoup the original investment.