The CAGE screening test for alcoholism is suggestive of disease if two of the responses are  positive. What does the E in CAGE stand for:

A 38-year-old accountant comes to your clinic for evaluation of a headache. The throbbing sensation is located in the right temporal region and is an 8 on a scale of 1 to 10. It started a few hours ago, and she has noted nausea with sensitivity to light; she has had headaches like this in the past, usually less than one per week, but not as severe. She does not know of any inciting factors. There has been no change in the frequency of her headaches. She usually takes an over-the-counter analgesic and this results in resolution of the headache. Based on this description, what is the most likely diagnosis of the type of headache?

  Oscar, Ltd. is a British subsidiary of a U.S. company. Oscar’s functional currency is the pound sterling (£). The following exchange rates were in effect during 2021:     Jan. 1 £ 1 = $ 1.58 June 30 £ 1 = $ 1.63 Dec. 31 £ 1 = $ 1.60 Weighted average rate for the year £ 1 = $ 1.56   Oscar reported sales of £1,200,000 during 2021. What amount (rounded) would have been included for this subsidiary in calculating consolidated sales?                         A)    $1,896,000.                     B)    $1,956,000.            C)    $1,872,000.            D)    $769,231.            E)    $750,000.

On December 1, 2021, Keenan Company, a U.S. firm, sold merchandise to Velez Company of Canada for 150,000 Canadian dollars (CAD). Collection of the receivable is due on February 1, 2022. Keenan purchased a foreign currency put option with a strike price of $0.97 (U.S.) on December 1, 2021. This foreign currency option is designated as a cash flow hedge. Relevant exchange rates follow:   Date Spot Rate Option Premium December 1, 2021 $ 0.97   $ 0.05   December 31, 2021 $ 0.95   $ 0.04   February 1, 2022 $ 0.94   $ 0.03     Compute the fair value of the foreign currency option at December 1, 2021.                         A)    $6,000.                B)    $4,500.            C)    $3,000.            D)    $7,500.            E)    $1,500.

On June 1, Cagle Co. received a signed agreement to sell inventory for ¥650,000. The sale would take place in 90 days. Cagle immediately signed a 90-day forward contract to sell the yen as soon as they are received. The spot rate on June 1 was ¥1 = $0.003986, and the 90-day forward rate was ¥1 = $0.004021. At what amount would Cagle record the Forward Contract on June 1?

On January 1, 2021, the Moody Company entered into a transaction for 100% of the outstanding common stock of Osorio Company. To acquire these shares, Moody issued $400 in long-term liabilities and also issued 40 shares of common stock having a par value of $1 per share but a fair value of $10 per share. Moody paid $20 to lawyers, accountants, and brokers for assistance in bringing about this acquisition. Another $15 was paid in connection with stock issuance costs. Prior to these transactions, the balance sheets for the two companies were as follows:     Moody   Osorio Cash $ 180     $ 40   Receivables   810       180   Inventories   1,080       280   Land   600       360   Buildings (net)   1,260       440   Equipment (net)   480       100   Accounts payable   (450 )     (80 ) Long-term liabilities   (1,290 )     (400 ) Common stock ($1 par)   (330 )         Common stock ($20 par)           (240 ) Additional paid-in capital   (1,080 )     (340 ) Retained earnings   (1,260 )     (340 )   Note: Parentheses indicate a credit balance. In Moody’s appraisal of Osorio, three assets were deemed to be undervalued on the subsidiary’s books: Inventory by $10, Land by $40, and Buildings by $60.Compute the amount of consolidated common stock at the date of acquisition.                         A)    $370.                   B)    $570.            C)    $610.            D)    $330.            E)    $530.           

Which of the following is true of a grade 4-intensity murmur?

On March 1, 2021, Mattie Company received an order to sell a machine to a customer in England at a price of 200,000 British pounds. The machine was shipped and payment was received on March 1, 2022. On March 1, 2021, Mattie purchased a put option giving it the right to sell 200,000 British pounds on March 1, 2022 at a price of $380,000. Mattie properly designates the option as a fair hedge of the pound firm commitment. The option cost $2,000 and had a fair value of $2,200 on December 31, 2021. The following spot exchange rates apply:   Date Spot Rate March 1, 2021 $ 1.90   December 31, 2021 $ 1.89   March 1, 2022 $ 1.84     Mattie’s incremental borrowing rate is 12%, and the present value factor for two months at a 12% annual rate is 0.9803.What was the net increase or decrease in cash flow from having purchased the foreign currency option to hedge this exposure to foreign exchange risk?                         A)    $0                        B)    $10,000 increase.            C)    $10,000 decrease.            D)    $20,000 increase.            E)    $20,000 decrease.

When a company applies the partial equity method in accounting for its investment in a subsidiary and the subsidiary’s equipment has a fair value greater than its book value, what consolidation worksheet entry is made to convert to full-accrual totals in a year subsequent to the initial acquisition of the subsidiary?       A) Retained earnings   Investment in subsidiary B) Investment in subsidiary   Retained earnings C) Investment in subsidiary   Equity in subsidiary’s income D) Investment in subsidiary   Additional paid-in capital E) Retained earnings   Additional paid-in capital                           A)    A above.             B)    B above.            C)    C above.            D)    D above.            E)    E above.           

Schrute Inc. had a receivable from a foreign customer that is due in the local currency of the customer (stickles). On December 31, 2021, this receivable for §200,000 was correctly included in Schrute’s balance sheet at $167,000. When the receivable was collected on February 15, 2022, the U.S. dollar equivalent was $181,000. In Schrute’s 2022 consolidated income statement, how much should have been reported as a foreign exchange gain?