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2 years ago

When courts find accountants liable for constructive fraud, the implication is that:______.

Business

1 answer:

barxatty [35]2 years ago

7 0

Even if they were unaware of the fraud, accountants may be held accountable for it.

<h3>How does constructive fraud work?</h3>

A legal fable known as "constructive fraud" describes a circumstance in which a person or organization obtained an unfair advantage over another using dishonest or unjust means. As opposed to true fraud, no proof of intent is required. The failure to inform clients of product flaws is one example of unfair practices.

The elements are:

1) a duty owed by the party to be charged to the complaining party due to their relationship;

2) violation of that duty by making deceptive material misrepresentations of past or current facts or remaining silent when a duty to speak exists; and

3) reliance on such statements by the complaining party.

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Tiago makes three models of camera lens. Its product mix and contribution margin per unit follow: Percentage of Unit sales Contr

Anna11 [10]

Answer:

A. $36.55

B. 5116 units

C. 7114 units

Explanation:

Requirement 1: Weighted average contribution margin per unit

Lens A = $38 x 25% = $9.5

Lens B = $30 x 40% = $12

Lens C = $43 x 35% = $15.05

Total Contribution margin per unit = $36.55

Requirement 2: Breakeven if fixed cost is $187,000

Break even point (units) = Fixed cost / Contribution per unit

Break even point (units) = 187,000/36.55

Break even point (units) = 5116 units

Lens A = 5116 x 25% = 1279 units

Lens B = 5116 x 40% = 2046 units

Lens C = 5116 x 35% = 1791 units

Requirement 3: How many units to be sold to generate $73,000 profit

Required units = Fixed cost - required profit / contribution per unit

Required units = ($187,000-$73,000)/$36.55

Required units = 7114 units

Lens A = 7114 x 25% = 1779 units

Lens B = 7114 x 40% = 2846 units

Lens C = 7114 x 35% = 2489 units

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3 years ago

A division has the following data: Sales $320,000, Variable costs $200,000, and Fixed costs $140,000. If the division were elimi

pashok25 [27]

Answer:

Effect on income= $120,000 loss

Explanation:

Giving the following information:

Sales $320,000

Variable costs $200,000

Fixed costs $140,000.

None of the fixed costs are avoidable. Therefore, they shouldn't be taken into account to make the decision.

Effect on income= Sales - varaible cost

Effect on income= 320,000 - 200,000= $120,000 loss

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3 years ago

Although we could describe both the cross-price elasticity of demand between paper coffee cups and plastic coffee lids and the c

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Answer:

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