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The managers of Quince Products (Problem 1-31) decide they will hire a management accountant to help them analyze the decision to expand their product line. They solicit bids from various accountants in the city and receive three proposals. In describing
Accountant A: "I have recently advised the symphony on how to raise money and therefore I know the local area well."
Accountant B: "I have advised several small firms on expansion plans."
Accountant C: "I have advised Pear Company [Quince's main competitor] and can share its experiences and insights with you."
All of the proposals have the same price.
Required:
a) As the accounting manager of Quince Products, prepare a memo recommending which accountant you would prefer to retain. Be sure to include your reasons.
b) Which, if any, of the accountants making a proposal are violating the IMA's code of ethics? What is (are) the violation(s)'?
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Solution Summary
The solution provides the complete solution for Problem 1-31, Quince Products. All exercise questions and parts are thoroughly answered. This solution is written based on 25+ years of professional accounting experience.
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The managers of Quince Products (Problem 1-31) decide they will hire a management accountant to help them analyze the decision to expand their product line. They solicit bids from various accountants in the city and receive three proposals. In describing
Accountant A: "I have recently advised the symphony on how to raise money and therefore I know the local area well."
Accountant B: "I have advised several small firms on expansion plans."
Accountant C: "I have advised Pear Company [Quince's main competitor] and can share its experiences and insights with you."
All of the proposals have the same price.
Required:
a) As the accounting manager of Quince Products, prepare a memo recommending which accountant you would prefer to retain. Be sure to include your reasons.
b) Which, if any, of the accountants ...
Purchase this Solution
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