Accounting for attorneys Study guides, Class notes & Summaries

Question 2 Not yet answered Marked out of 1.00 Flag question Question text The following information was obtained from the accounting records of SA Attorneys: On 1 April 2022, A South, a client of the practice, handed a cheque to the amount of R100 000 to Mr Africa and requested him to invest the money in a fixed deposit account at ABC Bank until the money is paid over for a property transaction. Which one of the following statements is incorrect for the above type of investment? Select one:...

Question 2 Not yet answered Marked out of 1.00 Flag question Question text The transactions are summarised in the ledgers and contain the information such as names of parties to the transaction, description of transactions, source document numbers etc. Select one: True False Question 3 Not yet answered Marked out of 2.00 Flag question Question text Use the following information to answer the question below: SA Traders is a business that sells electronic equipment. The entity i...

FAC1503 Assignment 2 Calculations/Explanations 1. 4 A trust bank account should never be in overdraft. A debit on a trust creditor account would mean the account is overdrawn which is not permitted In terms of the Rules for the Attorneys’ Profession (the Rules) with regard to the transfer of trust funds from the trust bank account to the business bank account, a legal practice shall ensure that the balance on its trust bank account shall at any date be equal to or ex...

OSHA 30 Construction Test Answer Key MANAGING SAFETY AND HEALTH - Complete Test (answered). IIPP is an acronym for ______________________. A. Incident Program Plan B. Injury and Impairment Planning Program C. Injury and Illness Prevention Program D. None of the above OSHA recognizes that the implementation of a safety and health program as a way of demonstrating ____________ in promoting workplace safety and health. A. Good faith by an employer B. Avoidance of an OSHA citatio...

TLI4801 PORTFOLIO MEMO - SEMESTER 2 - 2022 - UNISA (WITH DETAILED FOOTNOTES AND A BIBLIOGRAPHY)️️️️️ QUESTION 1: CIVIL PRACTICE 1. A client arrives at your office. You notice that she is using crutches and her right leg is in a cast. She informs you that she has been involved in a motor collision. Her leg was broken and she sustained bruises on her face and body as a result of the accident. Her car has also been damaged. There is a problem with her insurance. She has no income. An...

FAC1503 ASSIGNMENT 4 BOMB. Faithful representation of information means that only information which is significant enough needs to be separately disclosed. Minor items must be included in the financial statements but need not be separately disclosed. True False Answer Key:False Feedback:Refer to section 1.5.4 of learning unit 1 Question 2 of 28 1.0/ 1.0 Points SA attorneys spend R2300 on goods not utilised for earning taxable income. SA Attorneys may not claim input VAT on the goods b...

Can a patient successfully sue a doctor if there is no physician-patient relationship? – ANSWER No If there is no prior physician-patient relationship, are you legally obliged to respond to a call from a patient for treatment? – ANSWER No Does being on call give rise to a physician-patient relationship? – ANSWER No How can one terminate a physician-patient relationship, without abandonment if there is ongoing treatment? – ANSWER 30 days written notice; must provide fo...

CPA ethics course 2022 To address an ethical matter and make good judgments, you must first be able to recognize issues when they arise. ANS: This means being familiar with the profession's body of rules and regulations from the American Institute of Certified Public Accountants, your local state accountancy board, which issues your license to practice, and other sources of regulation. This also means staying attuned to potential ethical "warning signs." ethical decision making model ...

1. Tax planning has a higher likelihood of success when a tax practitioner is dealing with an open transaction instead of a closed transaction. a. True b. False 2. If a CPA becomes aware of an error in a tax return, he or she must immediately notify the IRS. a. True b. False 3. The Sarbanes-Oxley Act addresses issues of corporate governance as well as the independence of auditors. a. True b. False 4. An attorney, CPA, or enrolled agent may use advertising to obtain clients under Circular 2...

REVISION MATERIAL FOR SURVEY OF ACCOUNTING 3RD EDITION BY EDMONDS CHAPTER 1 - An Introduction to Accounting ANSWERS TO QUESTIONS 1. Stakeholders are the parties that use accounting information. Stakeholders with a direct interest include owners, managers, creditors, suppliers, and employees. These individuals are directly affected by what happens to the business. Stakeholders with an indirect interest include financial analysts, brokers, attorneys, government regulators, and news...