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ACC 568 Final Exam Guide Part 1
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ACC 568 Final Exam Guide Part 1
Question 1
Which of the following is not an assumption of the linear breakeven
model:
Question 2
George Webb Restaurant collects on the average $5 per customer at its
breakfast & lunch diner. Its variable cost per customer averages $3, and
its annual fixed cost is $40,000. If George Webb wants to make a profit
of $20,000 per year at the diner, it will have to serve__________
customers per year.
Question 3
In the linear breakeven model, the breakeven sales volume (in dollars)
can be found by multiplying the breakeven sales volume (in units) by:
Question 4
In the linear breakeven model, the difference between selling price per
unit and variable cost per unit is referred to as:
Question 5
In a study of banking by asset size over time, we can find which asset
sizes are tending to become more prominent. The size that is becoming
more predominant is presumed to be least cost. This is called:
Question 6
Theoretically, in a long-run cost function:
Question 7
The price for used cars is well below the price of new cars of the same
general quality. This is an example of:
Question 8

Experience goods are products or services
Question 9
Long distance telephone service has become a competitive market. The
average cost per call is $0.05 a minute, and it’s declining. The likely
reason for the declining price for long distance service is:
Question 10
All of the following are mechanisms which reduce the adverse selection
problem except ____.
Question 11
In the short-run for a purely competitive market, a manufacturer will
stop production when:
Question 12
Uncertainty includes all of the following except ____.
Question 13
An "experience good" is one that:
Question 14
The practice by telephone companies of charging lower long-distance
rates at night than during the day is an example of:
Question 15
Of the following, which is not an economic rationale for public utility
regulation?
Question 16
Regulatory agencies engage in all of the following activities except
_______.
Question 17
Declining cost industries
Question 18
The demand curve facing the firm in ____ is the same as the industry
demand curve.
Question 19
In the electric power industry, residential customers have relatively ____
demand for electricity compared with large industrial users. But
contrary to price discrimination, large industrial users generally are
charged ____ rates.

Question 20
Barometric price leadership exists when
Question 21
A cartel is a situation where firms in the industry
Question 22
Even ideal cartels tend to be unstable because
Question 23
In the Cournot duopoly model, each of the two firms, in determining its
profit-maximizing price-output level, assumes that the other firm's ____
will not change.
Question 24
Some industries that have rigid prices. In those industries, we tend to
Question 25
In a kinked demand market, whenever one firm decides to lower its price
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ACC 568 Week 2 Assignment 1 client Letter
(Foreign Source Income Rules)
Assignment 1: Client Letter
You are a CPA professional and are assisting a new client who is
expanding a business that operates in the United States to having a
global presence with operations in foreign countries. The new client is
concerned about how he can mitigate the U.S. tax impact from revenue

sourced in foreign countries. The client was advised by a friend that
claims he did not have to pay any U.S. tax on income received from
outside the U.S.
Use the Internet and your text to research the various rules regarding
source rules for income and deductions.
Write a one to two (1-2) page paper in which you:
1. Construct a letter to communicate to your client about the source
rules for income and deductions and the circumstances that income
received in foreign countries may or may not be taxed in the U.S.
2. Make a recommendation to the client as to how to mitigate the U.S.
tax impact from income received from outside the U.S. Provide facts to
support your recommendation.
3. Use at least two (2) quality resources in this assignment. Note:
Wikipedia and similar Websites do not qualify as quality resources.
Your assignment must follow these formatting requirements:
· Be typed, double-spaced, using Times New Roman font (size 12),
with one-inch margins on all sides; citations and references must follow
APA or school-specific format. Check with your professor for any
additional instructions.
· Include a cover page containing the title of the assignment, the
student’s name, the professor’s name, the course title, and the date. The
cover page and the reference page are not included in the required
assignment page length.
The specific course learning outcomes associated with this assignment
are:
· Analyze the source rules reach of the U.S. Tax Code in regard to
international taxation.
· Use technology and information resources to research issues in
international tax planning and research.
· Write clearly and concisely about international tax planning and
research using proper writing mechanics.
Click here to view the grading rubric.

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ACC 568 Week 4 Assignment 2 Foreign Persons
Trade / Business and U.S.-Sourced Income
ACC 568 Week 4 Assignment 2
Click the link above to submit your assignment.
Students, please view the "Submit a Clickable Rubric Assignment" in
the Student Center.
Instructors, training on how to grade is within the Instructor Center.
Assignment 2: Foreign Persons Trade / Business and U.S.-Sourced
Income
Due Week 4 and worth 200 points
Imagine you are a CPA working as a tax professional. A foreign client
engages you to determine how best for them to invest in a U.S. startup
company that plans to sell automobile parts. The client’s objective is to
avoid or minimize any U.S. taxes that the foreign investor may incur.
Assume that the client is forming this corporation with several other
U.S. citizens.
Using the Internet or Strayer databases, research the rules related to
foreign persons investing in U.S. companies and any tax implications for
the foreign investor.
Write a three to four (3-4) page paper in which you:

1. Based on your research, determine at least three (3) types of
investments in the U.S. company that will most likely trigger a taxable
event for your client and those that are least likely. Provide support for
the rationale.
2. Based on your research, evaluate at least three (3) types of U.S.-
sourced income that your client is most likely to be impacted by U.S.
taxes. Provide support for the evaluation.
3. Recommend the most advantageous type of investment strategy
that your client should take when investing in this U.S. company and
make recommendations for avoiding or eliminating taxes on the client’s
U.S.-sourced income from the investment. Support the recommendations
with examples.
4. Use at least three (3) quality resources in this assignment. Note:
· Be typed, double spaced, using Times New Roman font (size 12),
are:
· Analyze how foreign persons are taxed on income generated in the
U.S.
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ACC 568 Week 6 Assignment 3 International
Taxation and Foreign Tax Credits
Assignment 3: International Taxation and Foreign Tax Credits
Assume you are a CPA working as a tax professional and are hired by a
client who is a U.S.-based taxpayer and is interested in expanding the
business into foreign markets.
Using the Internet or Strayer databases, conduct research on the various
tax impacts for U.S. companies that expand abroad.
Write a four to six (4-6) page paper in which you:
1.
2. Based on your research, assess at least two (2) types of
organizations that the taxpayer could establish abroad and the various
tax impacts that these types of organization may cause. Provide support
for your rationale.
3. Based on your research, develop a strategy for the client to
repatriate earnings from the foreign markets and avoid or mitigate the
U.S. tax impact on repatriation. Provide support for your rationale.
4. Based on your research, evaluate foreign tax credits and propose at
least three (3) tax credits the client could use and the impact on the
taxes. Provide examples with your rationale.

5. Based on your research, assess the impact that the accumulated
earnings tax had on the client and how the tax could be avoided or
mitigated. Provide examples with your rationale.
6. Based on your research, analyze the rules regarding potential U.S.
and foreign sourced losses and propose scenario to your client that
would best represent the proper treatment of those losses. Provide
support for your rationale.
7. Use at least four (4) quality resources in this assignment. Note:
are:
· Analyze the legal basis of outbound international taxation and
foreign tax credit limitations.
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ACC 568 Week 8 Assignment 4 Transfer Pricing

Assignment 4: Transfer Pricing
Transfer pricing is probably one of the biggest tax issues facing taxing
authorities. Transfer pricing involves allocating revenues and costs
between countries in order to create the best possible tax situation for a
multinational company. For this assignment, you will be required to
respond to the following scenario:
A multinational company has hired you as its tax professional to advise
the company on how to use transfer pricing to avoid or mitigate taxes.
This company manufactures and sells cars in the U.S. and two (2)
foreign countries.
Using the Internet or Strayer Library, research the rules and techniques
for transfer pricing. Choose two foreign countries and research their
respective tax rates.
Write a six to eight (6-8) page paper in which you:
1. Based on your research, create projections of revenues, costs, and
tax rates for all three (3) countries, including the U.S. Provide support
for your projections.
2. Based on your projections, create at least two (2) scenarios in
which you allocate revenues and costs to each country to determine the
lowest possible overall tax for each country. Provide support for your
rationale.

3. Create at least three (3) scenarios and propose a scenario to the
client that will result in a favorable tax position. Provide support for
your rationale.
4. Create at least three (3) scenarios and propose a scenario to your
client that is less likely to result in an IRS audit. Provide support for
your rationale.
5. Assume that the IRS has challenged the allocations and is preparing
to audit the client. Prepare a position to defend the client to IRS. Provide
support for your position.
6. Imagine that you are an IRS agent auditing a multinational
company’s transfer pricing methods. Evaluate the tools you could use to
perform the audit and propose an audit plan. Provide support for the
strategy.
7. Use at least five (5) quality resources in this assignment. Note:
Wikipedia and similar Websites do not qualify as quality resources.)
are:
· Examine various transfer pricing methodologies and how they
impact taxation.

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ACC 568 Week 10 Assignment 5 Audit Letter to
IRS
Assignment 5: Audit Letter to IRS
You are a CPA working as a tax professional and have been hired by a
client who comes to you with a letter from the IRS indicating that it is
auditing several items on the client’s tax return and making the
following assertions:
1. The method the client used to value foreign currency exchanges is
incorrect.
2. An undervalued international exchange of appreciated property
should show a larger gain.
3. Sales through export operations were underreported and revenue is
understated.
4. The transfer of intangible property for stock was undervalued and
results in a larger gain.
5. Investments made to another country were done through a
subsidiary and not a branch and are taxable as such.
Using the Internet or Strayer databases, research the rules regarding the
above types of transactions.

Write a one to two (1-2) page paper in which you:
1. Respond to the assertions by the IRS and counter those assertions
with your own. Provide support for the rationale used in the response.
2. Make a convincing argument that the information / documentation
your client possesses justifies and supports the client’s claim. Provide
supporting evidence for your argument.
3. Use at least two (2) quality resources in this assignment. Note:
are:
· Determine the tax implications of conducting business in non-U.S.
currencies.
· Analyze the rules regulating international tax-free exchanges and
the international sale of goods.
· Analyze intangible property rights abroad.
· Examine direct investments abroad through a foreign branch or
foreign company.
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