Universalism and Relativism in Human Rights

Universalism and Relativism in Human Rights One of the most pertinent issues of the past twenty years has been the conflict between two different ideologies of human rights on a national scale, universalism, and cultural relativism. Universalism holds that more primitive cultures will eventually evolve to have the same system of law and rights as Western cultures. Cultural relativists hold an opposite, but similarly rigid viewpoint, that a traditional culture is unchangeable. Much like the question whether a tolerant society should tolerate intolerance, the debate between universalism and cultural relativism is more convoluted than it appears. In universalism, an individual is a social unit, possessing inalienable rights, and driven by the pursuit of self interest. In the cultural relativist model, a community is the basic social unit. Concepts such as individualism, freedom of choice, and equality are absent. It is recognized that the community always comes first. This doctrine has been exploited by many states, which decry any impositions of western rights as cultural imperialism. These states ignore that they have adopted the western nation state, and the goal of modernization and economic prosperity. Cultural relativism is in itself a very arbitrary idea, cultures are rarely unified in their viewpoints on different issues, it is always those who hold the microphone [that] do not agree (http://www.aasianst.org/Viewpoints/Nathan.htm). This discourse begs the question that in precisely what way are human rights Western. And even if they were Western in 1948, are they still Western today? Cultural relativism continues to problematize the Universal Declaration of Human Rights since it was adopted in 1948 . In fact, the problem of what universality might mean in a multicultural world haunted the United Nations Human Rights project from the beginning. As soon as news of the project became known, the American Anthropological Association, through the groups executive board, warned the Human Rights Commission through a letter against drafting a statement of rights only in terms of the values prevalent in the countries of Western Europe and America. However, while the anthropologists working from within a framework of cultural relativism issued a warning, the UNESCO Committee on the The Theoretical Bases of Human Rights offered hope by pointing out that even people who seem to be far apart in theory can agree that certain things are so terrible in practice that no one will publicly approve them and that certain things are so good in practice that no one will publicly oppose them. Whenever one group denies rights to another group within a culture, it is usually for their own benefit. Therefore human rights cannot be truly universal unless they are not bound to cultural decisions that are often not made unanimously, and thus cannot represent every individual that these rights apply to. Even though cultural relativism has great problems and a potential for abuse, universalism in its current state is not the ideal solution. Universalism is used by many Western states to negate the validity of more traditional systems of law. For example, if a tribe in Africa is ruled by a chieftain and advised by the twelve most senior villagers, is this system any less representative than the more liberal societies of the West? Is it possible to impose a universal system of human rights if the effects of social change stemming from modernization are not understood or worse yet, ignored? In non-Western societies, industrialization, capitalism, and democracy might not have been the eventual outcome of the process of cultural evolution. These ideologies have been shaped and created by Western imperialism, the slave trade, colonialism, modernization, and consumerism. Todays world shows signs of positive progress towards the universal system of human rights. The declaration of human rights occurred immediately after the atrocities committed during WWII. The globalization of human rights began when the world was awakened to the crimes committed under one government (Hitler), and the need for a more universal system of accountability and responsibility. Through a forum such as the United Nations, cultural differences are better able to be resolved, thereby paving the way for universalism while at the same time recognizing and compromising on the needs of certain cultures. The recent adoption of the International criminal court in June 1998 is an important step in enforcing and promoting the values agreed upon by the member nations. As the world becomes a smaller place with the advent of globalization, universalism makes more sense as a philosophy of human rights. In a world where many people might not be governed by national borders, having fundamen tal human rights instead of ones bound to certain cultures provides the best solution. The question of Westernness versus the universality of human rights remained a live issue throughout the process that led to the framing of the UDHR. In the 1950s the UDHR came under criticism as being Western at the hands of the newly independent states of Asia and Africa. And in the heat of the Cold War, its perceived emphasis on political and civil rights also allowed the countries of the Soviet Bloc to skewer it as such, with the Third World looking on in wonder if the white mans burden was being explouted once again to secure the white mans gain. In 1996, Prime Minister Mohammad Mahathir of Singapore famously declared: Asian values are universal values. European values are European values. (p. xi): Kishore Madhubani writes that any Asian thinker who challenged the prevailing Western ideas in contemporary social and political theory must be advocating the superiority of Asian values. Actually, the only point that most Asians were trying to make was that Asian values were not inferior. They were trying to say that there was a need for a level playing field in the new intellectual debate of the 1990s. With the advantage of historical hindsight, we can now look at those years and see that Asians were not marching out in that period to proselytize to the West, They are only reacting to Western proselytization. The Boston Sunday Globe on 29th April 2001 carried a spread entitled the BIG IDEA followed by the title: Are Human Rights Universal? Or is the West imposing its philosophy on the Rest of the World. It also carried two pieces elaborating divergent perspectives, one by Makau Mutua and the other by John Shattuck, Boston Sunday Globe, 29 April 2001, p. D8. Perhaps it is the intuition of Makau Mutua on this point which finds fuller expression in the following remarks by Upendra Baxi : The more human rights are hailed as the patrimony of the West, the greated is the inclination in most Euroamerican societies towards world hegemony. Also keener, as a result, is the intergovernmental desire in some non-Euroamerican societies to reject the underlying aspiration affirming equal worth of all human beings. not merely repressive regimes but also progressive intellectuals in these societies remain ambivalent towards contemporary human enunciations. And (as Chapter 6 illustrates) progressive Eurocentrism inclines us all towards a postmodernist crtitique of notions of human rights. Authentic intercultural, or even inter-faith, dialogue remains a casualty of warped approaches to histories of human rights ideas and practices. (p. vi of The Future of Human Rights): The principal msg of this work is that the originary authors of human rights are people in struggle and communities of resistance, which standard scholarship demotes to a lowly status Once claims to authorship stand thus pluralized, it follows simply that human rights are not the gifts of the West to the Rest; the dominant discourse is diversionary when it locates the origins of human rights in the Euroamerican tradition and experience and when it pursues endless debates over universality and relativism of human rights. (p. xiv): There is no unified Asian view in human rights and freedom of the press. These are Western concepts. Asians are obliged to react to them An understanding of the Asian reactions is clouded by the fact that many Asians feel obliged to pay at least lip service to Western values. The universalist theory of Human Rights is indeed largely based on Western philosophy and the value it places on the individual. Product of Greek philosophy, Christianity and the Enlightenment thinkers, the universalist approach to Human Rights contends that one can use nature, God, or reason to identify basic rights, inherent to every human, which pre-exist society. Jack Donnelly best summarizes the contemporary doctrine of the universalist approach by putting forward the following conclusions: 1. All humans have rights by virtue of their humanity; 2. A persons rights cannot be conditioned by gender or national or ethnic origin; 3. Human Rights exist universally as the highest moral rights, so no rights can be subordinated to another person (e.g. a husband) or an institution (e.g. the state) By contrast, cultural relativism is based on the idea that there are no objective standards by which others can be judged. The debate between universalism and relativism is as old as the history of philosophy itself and its discussion of truth. Relativism was introduced by, among others, the sophist Protagoras. He rejected objective truth by saying in so many words, later quoted by Plato: The way things appear to me, in that way they exist for me and the way things appear to you, in that way they exist for you. It is a perfect reflection of the European Enlightenment: Hobbes, Locke, Montesquieu, and Rousseau are its spiritual founding fathers. Indeed the Covenant insists on negative rights, those that limit the role of government and prevent its intrusion in ones life, privacy, and freedom of speech, religion, opinion and association. Political liberalism thus defined has been the force underlying the US Constitution and the US Bill of Rights, the French Declaration of the Rights of Man and Citizen and the French Constitution. It is also the emphasis of the International Human Rights legislation and thus legitimizes the efforts by the West to spread-some say impose-Western models of democracy. This is a first level of contention brought forward by cultural relativism proponents. To limit the role of government and its treatment of nationals is an interference with domestic affairs and a violation of state sovereignty, which for most of them is newly acquired and still fragile. The debate in very simple terms could read as follows: As soon as we (usually Third World countries) are granted independence and sovereignty, you (the West) introduce Human Rights and your style of government as a limit or as a condition. Indeed, the old mission civilisatrice is now replaced by the spread of multiparty democracy. Christianization, civilization, democratization: the rhetoric has changed, the interference has not. Furthermore, there is still the underlying concept that Western culture, because it legitimizes itself behind its pretension to universality, also positions itself as superior to non-western culture. Universalism becomes Westernization. A question remains, if it is westernization, then westernization for what purpose? Once again we need to look back at the history of political liberalism and its expression in the modern Human Rights doctrine. Locke cannot be separated from Adam Smith. Central to a western definition of fundamental freedoms is the right to property. Economic liberalism and political liberalism are brothers and in Western philosophy they are Siamese twins. The freedom to vote is often translated in the freedom to consume and/or the freedom to invest. It is very important that one billion Chinese be free to vote and express their opinion as long as they also choose to buy Motorolas and Marlboros. The link between Western-defined Human Rights and globalization of the economies explains the virulence of the West on the issues of fundamental freedoms. In other terms, critics agree that the universalist discourse barely hides a Western attempt to give a moral legitimization to an economic agenda. The ultimate contradiction lies in the fact that political liberalism has supported the same economic liberalism that has legitimized, for example, the Structural Adjustment Programs of the IMF. The SAPs in turn have been the catalyst for the curtailment of political freedoms and human rights in many developing countries. That the universal Human Rights discourse can disguise a hidden agenda is certainly undeniable. But does this mean by contrast that the cultural relativist discourse is agenda-free? Lets place it under scrutiny. The first level of criticism of the use of cultural relativism as an exception to universal norms, lies in the fact that bringing forward culture at a given time is to fundamentally ignore the dynamic and fluid nature of culture. Cultural relativism adopts a static definition of culture: a snapshot of a group of people and their system of meaning at a given time with the underlying assumption that they will not change. It introduces in the paradigm an element of determinism that has no factual or historical relevance. Static definitions of culture also lead to such statement as traditional ancestral ethnic hatred, which explain conflict in terms of culture, obliterating in the process all other determining parameters such as political economy. However, cultural relativisms most fundamental weakness in the work towards Human Rights lies in the conflict of interest between the people who articulate the argument and those they represent. More often than not, cultural relativism is claimed by repressive regimes whose practices have nothing to do with local or indigenous cultures but more with their own self-preservation.4 Cultural policymakers are those who can speak for the group and articulate the group values to the outside world. Such spokesmen are likely to only stress the elements insuring their position. This is especially important in multi-ethnic or multi-cultural states where not only would it be difficult to establish a national identity based on cultural values but also where one group dominates the others at best, blatantly discriminates at worst. Would someone attempt to define what is the culture in Bosnia-Herzegovina? Or in Rwanda? Culture is a construct much more so than a reality and people can always find di fferent levels of allegiance. Indeed, one critique of cultural relativism is that it leads to fragmentation. Cultural relativism as a tool is a legitimization of a behavior designed to preserve a structure of powers. In a study on Iranian women, Karen Miller illustrates that in rejecting the aspirational character if universalism, relativism merely perpetuates traditional practice. Miller insists notably on the fact that generally women have not taken a large part in determining the culture because traditionally, male activities have set the standards. In fact, violence against women seems to be common in many cultures.5 IV. Reconcilability of the Two Approaches. Neither universalism nor cultural relativism is exempt of political manipulations. Does that mean that neither view carries some validity? Furthermore, if they each carry some validity, are they mutually exclusive? To answer the first question by the affirmative-neither is valid, Human Rights paradigms are tools, therefore they do not have intrinsic values-would be reducing critical thinking to syllogism. Letas more importantly see if both notions can and should be reconciled in theory and in practice. That there exist profound differences of perceptions among cultures or groups of people according to their history, language, and economic circumstances might be true. Does that mean that there exist among them no common points? Not necessarily. It is actually quite remarkable to do a comparative textual analysis between Confucius and Locke and to see how both at different times, insist on the centrality of the concept of Humanity in defining individuals.6 4 Donnelly, Jack. 5 Miller, K. Human Rights of Women in Iran: the Universalist Approach and the Relativist Response. http://www.law.emory.edu/EILR/volumes/win96/miller.html 6 Nicoll, N. Confucianism and Human Rights, unpublished paper. Secondly, disagreeing with the content of what is now presented as universal does not have to mean that there are no values or norms universally agreed upon. Western values may not be universal but it does not mean that universal values do not exist. This leads us to a level of conciliation that would embody a true cross-cultural search of what can be universally agreed upon. Universal standards should be the goals while cultural legitimacy would offer a method. This would be made that much more relevant if those defining the culture were not those in power. The search of commonalties would (in theory) bypass the structures of power. It could forge a necessary dialectic between external attempts to build a universal system and the internal assistance of various civil societies. V. The Obstacle of Law It is precisely at this juncture that we see how the debate between universalism and relativism has contributed to perpetuate a situation that has actually hindered, more than benefited, the cause of Human Rights. The defense of Human Rights has been presented as a legal endeavor among state actors. The debate is essentially a legal debate when texts of international law are being drafted. Discussions then follow on what understanding to give to the term degrading treatment or what reservations can a domestic legislation make in the name of religion, culture or constitution (in the case of the US). The debate concentrates on the content of the legislation or its interpretation or application in domestic law, never on the means itself: the fact that there is an over reliance on law to address Human Rights issues. Actually if there is a western influence, it is to be found in that domain. Law as an absolute value is permeating the international realm. In international law nation-states are both creators and parties. In Human Rights, like in any other domain, states are not going to create universal or local structures that bypass their level of control. The western idea that a good litigation can solve all problems is also present in Human Rights doctrine. The fact is that the Human Rights legislation, which by nature of the international system lacks serious mechanism of enforcement, has acted as a smokescreen and has often diverted efforts and resources from other venues. Victory is claimed when a given country finally adopts an international treaty or adequately adapts its dom estic law, i.e. China signs the ICCPR or Kenya outlaws female circumcision. Efforts can then stop or more realistically, MFN status can be renewed. The issue of course is that most people whose rights are violated do not have equal access to the law-especially true for women in many countries. What difference would a change in the legislation make when you cannot drive or go to an urban center, or for that matter, even read? In addition, the nature itself of the existing legislation on Human Rights has indeed under western influence, favored such rights as privacy and property. The legislation has erected a wall between the public sphere and the private sphere to better protect those rights. This has been ultimately catastrophic for womens rights for most violations of women happen in the private sphere. This is really a domain where one can witness how both theories, universalism and relativism, have had a negative impact by creating a double standard. Men readily accepting western norms of respect for privacy and property and women made to bare the brunt of cultural authenticity within a private sphere made untouchable by virtue of respect for fundamental freedoms. Conclusion The debate between universalism and relativism should be a non-issue. Universal goals and cultural sensitivities can be reconciled in the establishment of realistic strategies. However the debate in its present form contributes to divert attention from more important issues. Is International Law, made by states, the right venue to improve human rights? The effective protection of Human Rights requires a transformation not only of government and laws but of the non-state institutions and practices that the present Human Rights doctrine-universal or relative-does not touch.

Generally Accepted Accounting Principles and Balance Sheet

F? 151. Assets become liabilities when they expire. F152. Revenue results from collection of accounts receivable. F153. A company’s fiscal year must correspond to the calendar year. T154. Accounting periods should be of equal length to facilitate comparison between periods. T155. When there is no direct connection between revenues and costs, the costs are systematically allocated among the periods benefitted. T156. Applying accrual accounting results in a more accurate measurement of profit for the period than does the cash basis of accounting. F157. Adjusting entries affect cash flows in the current period.T158. Revenue cannot be recognized unless delivery of goods has occurred or services have been rendered. F159. Accrual accounting recognizes revenues and expenses at the point that cash changes hands. F160. A deferral is the recognition of an expense that has arisen but has not yet been recorded. T161. Adjusting entries are useful in apportioning costs among two or more acc ounting periods. T162. An adjusting entry includes at least one balance sheet account and at least one income statement account. T163. Recording incurred but unpaid expenses is an example of an accrual. F164.If all transactions were originally recorded in conformity with GAAP, there would be no need for adjusting entries at the end of the period. T165. Every adjusting entry must change both an income statement account and a balance sheet account. F166. When the reduction in prepaid expenses is not properly recorded, this causes the asset accounts and expense accounts to be understated. T167. Accumulated depreciation may be referred to as a contra-asset account. T168. The adjustment to record depreciation of property and equipment consists of a debit to depreciation expense and credit to accumulated depreciation.T169. When services are not paid for until they have been performed, the accrued expense is recorded by an adjusting entry at the end of the accounting period. T170. The amou nt of accrued revenues is recorded by debiting an asset account and crediting an income account. F171. Acquiring a computer for cash is just exchanging one asset for another and will not result in an expense even in future periods. F172. A decrease in an expense account is the equivalent of a decrease in owner’s equity. F173. Accrued revenue is a term used to describe revenue that has been received but not yet earned. T174.Book value is the original cost of a building less depreciation for the year. F175. The adjusting entry to allocate part of a cost of a one-year fire insurance policy to expense will cause total assets to increase. T176. The adjusting entry to recognize earned commission revenues, not previously recorded or billed will cause total assets to increase. F177. The adjusting entry to recognize an expense which is unrecorded and unpaid will cause total assets to increase. T178. The adjusting entry to recognize earned revenues which was received in advance will ca use total liabilities to decrease.F179. The maximum period covered by a worksheet is 6 months. T180. Withdrawals is recorded in the Balance Sheet debit column of the worksheet. F181. The Owner’s capital account is shown in the Income Statement credit column in the worksheet. F182. The Owner’s withdrawal account will not appear on an adjusted trial balance on the worksheet. F183. Accumulated depreciation appears on the income statement. T184. The worksheet is used to pull together up-to-date account balances needed to prepare the financial statements. F185.Financial statements are prepared from the adjusted trial balance of the worksheet. F186. Because adjusting entries are recorded on a worksheet, they do not need to be journalized or posted. T187. A loss occurs when there are more expenses than revenue. T188. If revenue and expenses were equal for an accounting period, the result would be neither profit nor loss. T189. The worksheet is not presented with the financial statements. T190. The third step in worksheet preparation is to enter the adjusted account balances in the adjusted trial balance column.T191. The worksheet is a convenient device for completing the accounting cycle. T192. After all necessary adjustments are entered in the worksheet, the two adjustment columns are totaled to prove the equality of debits and credits. F193. Income and expense accounts are moved to the balance sheet columns of the worksheet. F194. Assets, liabilities capital and withdrawal accounts are extended to the income statement column of the worksheet. T195. The balance of the Unearned Revenues account will appear in the balance sheet credit column of the worksheet. F196.The balance sheet credit column of the worksheet usually contains only the liability and equity accounts. F197. Where the income statement column of the worksheet are totaled the excess of debits over credits is called profit. F198. The totals of the balance sheet columns of the worksheet will usually be the same as the totals appearing in the formal balance sheet. T199. The last step in the worksheet preparation is to enter the profit and loss figure as a balancing figure in the income statement and balance sheet columns. T200. The worksheet helps the accountant discover existing posting and calculation errors.T201. If an asset has been carried to the debit column of the income statement and a similar error occurred involving income or liabilities, the worksheet may appear to be correct but the profit figure is actually misstated. F202. Financial statements are confidential documents which are available only to the owner of the business. T203. The focal point of the accounting cycle is the financial statements. T204. The income statement shows the types and mounts of revenues and expenses for the accounting period. F205. The excess of expenses over revenues is called loss. F206.Expenses are increases in equity caused by the entity’s income-generating activities. F 207. Cash loaned from a bank constitutes income. F208. The statement of changes in equity uses only the profit figure from the income statement to explain the change in equity. T209. The balance sheet provides the financial statement user the type and amount of each asset, liability and capital account at a particular date. T210. The balance sheet is prepared based on the final equity balance in the statement of changes in equity. F211. The account form of balance sheet shows assets, liabilities and equity in a vertical sequence.T212. Financial flexibility is the ability to take effective actions to alter the amounts and timings of cash flows so that it can respond to unexpected needs and opportunities. T213. Solvency refers to the availability of cash over the longer term to meet financial commitments as they fall due. T214. Liquidity refers to the availability of cash in the near future after taking account of the financial commitments over this period. T215. An income statement r efers to the specified period while a balance sheet shows the financial position of the entity at a particular date. T216.Cash flow statement reports the amount of cash received and disbursed during the period. T217. Notes to financial statements include narrative descriptions or more detailed analyses of amounts shown on the face of the balance sheet, income statement, cash flow statement and statement in changes in equity. T218. Accounting policies are the specific principles, bases, conventions, rules and practices adopted by an enterprise in preparing and presenting financial statements. F219. The purchase of an equipment is an example of a financing activity. T220. Buying and producing goods and services are examples of operating activities.T221. The purchase of land is an example of an investing activity. F222. Paying taxes to the government is an example of financing activity. T223. Financial position may be assessed by referring to the balance sheet. T224. The statement in c hanges in equity discloses the withdrawals during the period. F225. The heading of the income statement might include the â€Å"As of December 31, 2011. † T226. The balance sheet is also known as the statement of financial position. T227. The statement of cash flows discloses significant events related to the operating, investing and financing activities of the business.T228. The statement of changes in equity relates the income statement to the balance sheet by showing how the owner’s capital account changed during the accounting period. F229. The account Commissions Earned would appear on the balance sheet. F230. The account Wages Payable would appear in the income statement. T231. Financial statements cannot be prepared correctly until all the accounts have been adjusted. F232. A worksheet is more useful for a small company than a large one. T233. Working papers provide a written record of the work performed by an accountant or auditor. T234.The worksheet is a type of accountant’s working paper. F235. The amount for owner’s withdrawal will appear in the income statement column of a worksheet. T236. The adjusted trial balance columns of the worksheet are prepared by combining the trial balance and adjustments column. T237. When the Income Statement columns of the worksheet are initially footed, they should be out of balance by the amount of profit and loss. F238. When the balance sheet columns of the worksheet are initially footed, they should be in balance. F239. The worksheet should be prepared after the formal financial statements have been prepared.T240. An important use of the worksheet is an aid in the preparation of financial statements. 241. The worksheet is prepared after the formal adjusting and closing entries. 242. On a worksheet, the balance of the owner’s Capital account is its ending amount for the period. 243. The amount placed opposite the owner’s Capital account in the Balance Sheet columns of the w orksheet is the amount to be reflected for owner’s Capital on the Balance Sheet. 244. The balances of the Accumulated Depreciation accounts will appear on the credit side of the worksheet’s Balance Sheet Columns. 245.The balance sheet may be prepared by referring solely to the Balance Sheet columns of the worksheet. 246. When adjusting entries are entered onto a worksheet, it is not necessary to record them in the general journal. 247. Total assets, total liabilities and owner’s equity on the balance sheet are the same as the totals of the Balance Sheet columns on the worksheet. 248. The amount of owner’s withdrawals can be found on the worksheet. 249. After the adjusting and closing entries have been recorded and posted, the general ledger accounts that appear on the balance sheet have no balances. 250.General account balances agree with those in the financial statements even before adjusting and closing entries are recorded and posted. 251. The income s ummary account is used to close the income and expense accounts. 252. The balance of the owner’s Capital account represents the cumulative net result of income, expense and withdrawal transactions. 253. Closing entries clear income and expense accounts at the end of the period. 254. The post-closing trial balance contains asset, liability, withdrawal and capital accounts. 255. The final trial balance is called a post-closing trial balance. 56. A reversing entry is a journal entry which is the exact opposite of a related adjusting entry made at the end of the period. 257. To simplify the recording of regular transactions in the next accounting period, all adjusting journal entries are reversed. 258. Post-closing trial balance tests the equality of the accounts after adjustments and the closing entries are posted. 259. Trial balances are prepared to ensure that no entries have been omitted. 260. In the accounting cycle, closing entries are prepared before adjusting entries. 261 .In the accounting cycle, information from source documents is initially recorded in the journal. 262. Nominal accounts are reduced to zero by closing entries. 263. Closing entries deal primarily with the balances of real accounts. 264. The only accounts that are closed are the income statement accounts. 265. Closing entries result in the transfer of profit or loss into the owner’s Capital account. 266. After all closing entries have been entered and posted, the balance of the income summary account will be zero. 267. Depreciation Expense-Building is a permanent account. 68. Supplies expense is a temporary account. 269. A revenue account is closed with a credit to the revenue account and a debit to income summary. 270. An expense account is closed with a debit to the expense account and a credit to income summary.271. Income Summary is closed with a debit to income summary and a credit to the owner’s Withdrawals account. 272. When profit or loss is exactly zero, one of the usual closing entries will be avoided. 273. The Income Summary account appears in the income statement. 274. Temporary accounts are also known as real accounts. 75. During the closing process, revenues are transferred to the credit side of the Income Summary account. 276. During the closing process, expenses are transferred to the credit side of the Income Summary account. 277. All nominal accounts must be closed before the Income Summary account can be closed. 278. The post-closing trial balance will have fewer accounts than the adjusted trial balance. 279. The balances of all accounts that appear on the balance sheet are the same on the adjusted trial balance as they are on a post closing trial balance. 280.There is sufficient information on a post-closing trial balance to prepare an income statement. 281. The post-closing trial balance will contain only real accounts. 282. The Income Summary account will appear on the post-closing trial balance. 283. There is sufficient info rmation on a post-closing trial balance to prepare a balance sheet. 284. There is sufficient information on a post-closing trial balance to prepare a statement of changes in equity. 285. If the post-closing trial balance does not balance, then the error/s definitely occurred at some point during the closing process. 86. The adjusting entries involving Rent Receivable and Salaries Payable could be reversed. 287. The adjusting entries involving Depreciation Expense-Building and Supplies Expense could be reversed. 288. A reversing entry will include either a debit to a revenue account or a credit to an expnseaccount. 289. Reversing entries are never required. 290. Reversing entries can be made for deferrals but not for accruals. 291. Reversing entries are made to correct errors in the account. 292. The purpose of reversing entry is to simplify the bookkeeping process. 293.Adjusting entries are all dated as at the first day of the new accounting period. 294. Closing entries can be prepa red by referring solely to the income statement columns of the worksheet. 295. The chart of accounts for a merchandising entity differs from that of a service entity. 296. The difference between revenue from sales and cost of sales is operating income. 297. For cash sales, the operating cycle is from cash to inventory to accounts receivable and back to cash. 298. The bill of lading is a document prepared by the seller detailing the terms of delivery. 99. A validated deposit slip indicates that cash and checks were actually deposited. 300. Discounts offered to the buyer to encourage early payment are trade discounts. 301. Cash discounts are called purchase discounts from the buyer’s viewpoint. 302. The sales discounts account is a contra-income account and will have a debit balance. 303. A credit term of 2/10 n/30 means that the buyer may deduct 3% from the invoice if payment is made within 10 days from the end of the month. 304. Purchases return and allowances is a deduction from purchases. 305.The cost of merchandise purchased during the period is determined by subtracting from the net purchases the amount of transportation costs incurred during the period. 306. The purchase of equipment not for resale should be debited to the purchases account. 307. If the seller is to shoulder the cost of delivery, the term is stated as F. O. B destination. 308. The term freight prepaid or collect will dictate who shoulders the transportation costs. 309. The two main systems for accounting for merchandise are periodic and perpetual. 310. The perpetual inventory system requires recording the cost of each sale as it occurs. 11. There is no need for a physical inventory count in the perpetual inventory system. 312. The debit balance in the inventory account in the trial balance under the periodic inventory system is the amount of inventory at the end of the current year.313. The ending inventory of one period is the beginning inventory of the next period. 314. The balan ce in the merchandise inventory account at the beginning of the period represents the cost of merchandise on hand at that time. 315. The operating cycle involves the purchase and sale of inventory as well as the subsequent payment for purchase and collection of cash. 16. A business can shorten its operating cycle by increasing the percentage of cash sales and reducing the percentage of credit sales.317. Merchandise inventory could include goods in transit. 318. An advantage of using the periodic inventory system is that it requires less recordkeeping than the perpetual inventory system. 319. The periodic inventory system relies on a physical count of merchandise for its balance sheet account. 320. Under the periodic inventory system, the cost of goods sold is treated as an account. 321. The periodic inventory system provides an up-to-date inventory on hand.322. Summing ending merchandise inventory and cost of goods sold gives the cost of goods available for sale. 323. A physical inv entory is usually taken at the end of the accounting period. 324. Under the periodic inventory system , purchases of merchandise are not recorded in the Merchandise Inventory account. 325. A company would be more likely to know the amount of inventory on hand if I it used the periodic inventory system ra of all merchandisether than the perpetual inventory system. 326. Taking a physical inventory refers to making a count of all merchandise on hand at a particular time. 327.When the periodic inventory system is used , a physical inventory should be taken at the end of the fiscal year. 328. The income statement of a company that provides services only will not have cost of goods sold. 329. For a merchandising company, the difference between the net sales and operating expenses is called a gross margin. 330. Sales return and allowances is described a contra-revenue account. 331. On the income statement of a merchandising concern, profit is the amount by which net sales exceed operating expenses. 332. Transportation out is included in the cost of goods sold calculation. 33. Advertising expense appears as a selling expense on the income statement. 334. Transportation in is considered a cost of merchandise purchased. 335. The difference between gross sales and net sales is equal to the sum of sales discounts and sales returns and allowances.336. When the terms of sale include a sales discount, it usually is advisable for the buyer to pay within the discount period. 337. The terms 2/10, n/30 mean that a 2% discount is allowed on payments made over 10 days but before 30 days after the invoice date. 338. Terms 2/10, n/30 is an example of a trade discount. 39. Goods should be recorded at their list price less any trade discounts involved. 340. FOB Shipping point means that the seller incurs the shipping costs. 341. Under the perpetual inventory system, the cost of merchandise is debited to Merchandise Inventory at the time of purchase.342. The merchandise inventory accou nt is not affected when a sales allowance is granted. 343. Ending merchandise inventory is included in the calculation of cost of goods available for sale. 344. Ending merchandise inventory for year 1 automatically becomes the beginning inventory for year 2. 45. The calculation of cost of goods available for sale during the year is not affected by the previous year’s ending inventory. 346. The change in inventory level from the beginning to the end of the year affect cost of goods sold. 347. Transportation In is treated as a deduction in the cost of goods sold section of the income statement. 348. Under the periodic inventory system, the Purchases account is used to accumulate all purchases of merchandise for resale.349. Cost of goods sold is the primary difference between a merchandising and a service business income statement. 350. Debiting income summary and crediting beginning merchandise inventory eliminates the beginning inventory at the end of the period. 351. Cost of goods sold is a major expense of a merchandising business. 352. Using the nature of expense method of presenting expenses in the income statement has the advantage of simplicity because no allocation of operating expenses between functional classifications is necessary. 353. The function of expense method reports gross margin and income from operations. 354. Operating income is not computed in the nature of expense method.355.Gross margin from sales is the income that the business would have made if all goods available for sale had been sold during the period. 356. The excess of gross profit over operating expenses is called operating profit. 357. In the worksheet, the ending inventory amount will appear in the income statement credit column and the balance sheet debit column. 358. The determination of net cost of purchase would include addition of transportation out. 359. The traditional balance sheet arrangement of assets on the left-hand side with the liabilities and ownerâ€℠¢s equity on the right-hand side is called the report form. 360. Net sales is not an account name. 361. In the income statement, operating expenses are classified as selling expenses, administrative expenses and other operating expenses. 362. The sales return and allowances has a normal debit balance. 363. The closing entry for transportation in debits purchases and credits income summary. 364. Both Transportation In and Transportation Out accounts are closed by crediting the accounts. 365. On the worksheet of a merchandising company that uses the perpetual inventory system, the Merchandise inventory account balance is not adjusted.366.When using the perpetual inventory system, the Merchandise inventory account will not appear in the closing entries. 367. The worksheet of a merchandising company that uses the perpetual inventory system will not have a Transportation In account. 368. When preparing a worksheet for a merchandising company that uses the perpetual inventory system, the cost of goods sold can be derived from the balances of several account in the income statement column. 369. Under the perpetual inventory system, the ending merchandise inventory balance is closed at the same time as cost of goods sold.370.When preparing a worksheet for a merchandising company that uses the periodic inventory system, the merchandise inventory amount shown on the trial balance will be carried over the Balance Sheet debit column. 371. On the worksheet of a merchandising company that uses the periodic inventory system, both Purchase and Purchases Returns and Allowances appear in the Income Statement column. 372. The Purchases account is closed to the Merchandise Inventory account. 373. The ending inventory amount appears in both Income Statement columns on the worksheet of a merchandising company that uses the periodic inventory system. 74. Under the periodic inventory system, the Merchandise Inventory account appears in the closing entries made at the end of the perio d. 375. When preparing closing entries under the periodic inventory system, Sales, Purchases Returns an Allowances are both closed in the same entry. 376. Sales discount is a contra-revenue account with a normal credit balance.377. Purchases discount would be recorded as a credit. 378. Transactions involving the payment of cash for any purpose are usually recorded in the cash journal. 379. Special journals are modified in practice to adapt to the specific needs of an entity. 80. The primary ledger that contains all the balance sheet accounts and income statement accounts is called the general ledger. 381. At the end of each month, the total of the amount column of the sales journal is posted as a debit to accounts receivable and credit to sales. 382. After postings have been completed for the month, if the sum of the balances in the accounts receivable subsidiary ledger does not agree with the balance of the accounts receivable In the general ledger, the errors must be located and c orrected. 383. Sales on ccount of office equipment used in the business would be recorded in the sales journal.384. Each amount in the other accounts column of the cash receipts journal must be posted individually to the appropriate general ledger account. 385. When there are numerous accounts with a common characteristic, it is common to place them in a separate ledger called a detail ledger. 386. The sale of merchandise for cash is recorded in the sales journal. 387. The total of the other accounts column of the cash receipts journal is not posted to the general ledger. 88. When special journals, control accounts, and subsidiary ledgers are used, no posting to any ledger is performed until the end of the month. 389. For each transaction recorded in the purchases journal, the credit is entered in the accounts payable column. 390. Acquisitions on account which are not provided for in a special debit column are recorded in the other accounts column in the purchases journal. 391. Debi ts to creditor’s accounts for invoices paid are recorded in the accounts payable debit column of the cash payments journal. 392.Comparing the purchase order with the receiving report will show that all the goods ordered actually arrived and all goods that arrived were actually ordered. 393. The total of the accounts payable in the cash payments journal is posted at the end of the month as a debit to accounts payable and a credit to cash. 394. When customers are allowed to return for credit to their accounts, these transactions are recorded in the general journal. 395. A check register is used to record all expenditures. 396. The voucher register is a substitute for a sales journal. 397. The voucher register takes the place of the cash payments journal.

Swot Analysis to Six Sigma

In 1981 Motorola launched an initiative calling for a 5-year, 10X improvement in quality. In 1987 Motorola initiated its â€Å"Six Sigma Quality† initiative, with the goal of no more than 3. 4 defective parts per million (ppm) across the company. A 4-year 100X quality improvement goal was set. In 1988, Motorola won the Malcolm Baldrige National Quality Award. Motorola then shared its â€Å"Six Sigma† approach with other companies. In 1989, Motorola Chairman, Bob Galvin asked Mikel Harry to head the Six Sigma Research Institute, an organization that received funding from a number of Fortune 500 companies . In 1993 Mikel Harry left Motorola and went to Asea Brown Boveria Ltd. (ABB). Here, the strategy changed from â€Å"Quality First† to â€Å"Business First. † AlliedSignal implemented Six Sigma in 1994 and claimed savings of $1. 2 billion by 1998. Bossidy, CEO of AlliedSignal, convinced General Electric’s Jack Welch to try Six Sigma. The huge savings due to using Six Sigma were claimed in the GE Annual Report, Letter to Our Shareholders, February 12, 1999. With successes like these and strong business leaders like Jack Welsh and Bossidy, the demand for Six Sigma has exploded. Many Fortune 500 companies have begun Six Sigma initiatives and others have asked if Six Sigma is right for them. Numerous consulting firms have jumped on the bandwagon, including ASQ, and numerous articles and books have appeared on the subject. Many product and service advertisements are now mentioning Six Sigma. The term Six Sigma defines an optimum measurement of quality: 3. 4 defects per million events. The Greek letter SIGMA is a mathematical term that simply represents a measure of variation, the distribution or spread around the mean or average of any process or procedure in manufacturing, engineering, services or transactions. The sigma value, or standard deviation, indicates how well any process is performing. The higher the value, the fewer defects per million opportunities. One of Motorola's most significant contributions was to change the discussion of quality from one where quality levels were measured in percentages (parts per hundred) to a discussion of parts per million or even parts per billion. Motorola correctly pointed out that modern technology was so complex that old ideas about acceptable quality levels were no longer acceptable. One puzzling aspect of the â€Å"official† Six Sigma literature is that it states that a process operating at Six Sigma levels will produce 3. 4 parts-per-million nonconformances. However, if a normal distribution table is consulted (very few go out to six sigma), one finds that the expected nonconformances are 0. 002 parts per million (two parts per billion). The difference occurs because Motorola presumes that the process mean can drift 1. 5 sigma in either direction. The area of a normal distribution beyond 4. 5 sigma from the mean is indeed 3. 4 parts per million. Because control charts will easily detect any process shift of this magnitude in a single sample, the 3. 4 parts per million represents a very conservative upper bound on the nonconformance rate. Notes 1: the quality evolution of motorola 1979 â€Å"our quality sucks† 981 Motorola university, quality goal 10x reduction in 5 years 1985 Initiate corporate quality metrix 1987 Six Sigma program: 10x reduction in 2 years 1989 Received Malcolm Baldridge Award 1992 10x reduction in cycle time: customer satisfaction metrix 1996 order fulfillment quality 1997 Five Nines with an eyes on the customer Notes 2: six sigma history 1987 Motorola adopts six sigma 1991 Allied Signal adopts six sigma (Larry Bossidy) 1995 GE adopts six sigma (Jack Welch) 1997 Six sigma adopted in GE capit al (service industry)

Are Women Not Getting Enough Rights - 928 Words

Gender We live in the world where there are different biases. All living creatures in our planet are categorized into different categories. There are two main categories: male and female; both are treated differently from their birth until their death. Most people argue that only women are not getting enough rights. But the fact is that nobody can have everything they want. People cannot control time, no matter how hard or fast you try to achieve everything, you will never get it all. Your gender affects the way society treats you. It is not your fault to born a certain sex. Life is short, do not waste your time judging others, be happy on what you have and never regret about the things that you did because the past will never come back. Never lose your hope on anything because tomorrow is going to be a fresh start. Moving forward by accepting all imperfect things that you have been the best way to be happy. Never underestimate the power of another human being, treat others as you want to b e treated. I always want to help others by solving their problems or showing them the way to solve their problems. Every human being are unique, they are gifted with different talents and skills. Satisfaction is the key to having a happy life. Today’s world both men and women have equal rights so they need to be treated equally. Being a mother is one of the proud feeling because she can give life to another human being. Mothers have a special place on everyone’s life. In the United States,Show MoreRelatedWhat Can We Do About It?1467 Words   |  6 Pagesthinking they aren t good enough, women would most likely be taken away and are more likely to be tortured or raped. Women aren t meant for fighting, men are. If we enable the women from engaging in combat, we would have a safer country, and a happier life. I will be researching the following questions; What can we do about it? 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