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kherson [118]
2 years ago
9

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.

To know more about fraud visit:

https://brainly.in/question/51948586

#SPJ4

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Rhett made his annual gambling trip to uwin casino. on this trip rhett won $250 at the slots and $1,200 at poker. also this year
SIZIF [17.4K]

Answer:

Gross income=(1450-700)=$750

Explanation:

Gross income is the total earning before any taxes or deductions

In this case;

Gross income=Winnings-Losses

where;

Winnings=Slots+poker=(250+1200)=$1450

Losses=racetrack=$700

Replacing;

Gross income=(1450-700)=$750

5 0
3 years ago
4. The Mexican peso has weakened considerably relative to the dollar, and you are trying to decide whether this is a good time t
LenKa [72]

Answer:

The forecast exchange rate in one's year time according to Goldman Sachs is MXN 14.25/USD

Explanation:

The fact that the Mexican Peso will lose 15% of its value to the dollar means that a dollar will command 15% of the current Peso value  in  a year's time.

Mathematically, MXN 9.5*1.15= MXN14.25 in a year's time.

It also implies that a Mexican with dollars wanting to convert into MXN in a year's time will receive more Peso compared to now.

5 0
3 years ago
Zachary, a manager at ExecuComp, receives quarterly reports, which track his department's production statistics. However, these
makkiz [27]

Answer: measuring actual performance

Explanation: Measuring is the first step in the control cycle. Many employment and tasks can be expressed in concrete and observable terms.

Managers often use a number of information sources to assess actual performance, such as personal observations, statistical reports, oral reports, and written reports.

In the given case, Zachary is using a report that lacks relevance relative to the measurement criteria. Hence from the above we can conclude that the correct option is A.

6 0
3 years ago
Read 2 more answers
Aegis Industries Inc., is the biggest snowmobile manufacturer in the world. It reported the following amounts in its financial s
Anettt [7]

Answer:

The calculations are shown below:

Explanation:

The computation is shown below:

As we know that

Inventory turnover ratio is

= Cost of goods sold ÷ Average inventory

So

For year 2015, it is

= $1,270 ÷ $210

= 6.05 times

For year 2014, it is

= $1,560 ÷ $220

= 7.09 times

For year 2013, it is

= $2,000 ÷ $380

= 7.14 times

1-b Average days to sell inventory is computed by considering the

= Total number of days in a year ÷ inventory turnover ratio

So

For year 2015, it is

= 365 ÷ 6.05

= 60.33 days

For year 2014, it is

= 365 ÷ 7.09

= 51.48 days

For year 2013, it is

= 365 ÷ 7.14

= 51.12 days

2. As we can see that the aegis industries inc is performing better than the Snow Pack Corporation as aegis industries has 7.14 times in 2015 as compare to the 5.5 times in 2015  

7 0
3 years ago
West Company estimates that overhead costs for the next year will be $3,800,000 for indirect labor and $970,000 for factory util
nalin [4]

Answer: $45 per machine hour

Explanation:

Company uses machine hours as its overhead allocation base and there were 106,000 machine hours planned.

The overheads are $3,800,000 for indirect labor and $970,000 for factory utilities.

The rate will therefore be;

= Total Overhead / Machine hours

= (3,800,000 + 970,000) / 106,000

= $45 per machine hour

3 0
3 years ago
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