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gizmo_the_mogwai [7]
3 years ago
5

EA8.

Business
1 answer:
docker41 [41]3 years ago
5 0

Answer:

Bribery in the world of business typically happens when an organization or representative of an organization gives financial benefits to an official to gain favor or manipulate a business decision - True.

Bribery is the giving or offering of items of value (especially money) to a government official in exchange for favorable treatment. Bribing is unethical and illegal, but it is common practice in many countries, so common that it is expected.

The Foreign Corrupt Practices Act was implemented in the aftermath of disclosures that businesses were violating the IMA Code of Ethics - True.

In the seventies, U.S. Government investigations found that hundreds of U.S. companies operating abroad had turned to bribery in order to gain the favor of foreing officials. This conduct is related to the statement explained above: bribery is pervasive in many countries around the world.

Managers are required to follow specific rules issued by the IMA for internal financial reporting. - False.

The IMA Code of Ethics does not provide specific rules for financial reporting (these specific rules are found instead either in the Generally Accepted Accounting Principles (GAAP) or in the or in the International Financial Reporting Standards (IFRS)).

The IMA Code of Ethics instead provides principles, or ethical guidelines, to be followed by participants in the management accounting profession.

Ethics is more than obeying laws - True.

Ethics goes beyond what is legally right, and is more related to what is morally right. An ethical person should do the right thing even if there is no legal code explicitely telling him to do so.

The Sarbanes-Oxley Act addressed public company accounting reform. - True

This act added requirements for public accounting firms, and included legal penalties including possible jail time for certain types of misconduct. The Act was enacted following major accounting scandals such as Enron.

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Beene Distributing is considering a project that will return $150,000 annually at the end of each year for the next six years. I
mr_godi [17]

Answer:

$714,980.95

Explanation:

The most it would be willing to pay is the present value of the cash flows

present value is the sum of discounted cash flows from a project

present value can be determined with a financial calculator

Cash flow each year from year 1 to 6 = $150,000

I = 7%

Present value = $714,980.95

To find the PV using a financial calculator:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.  

3. Press compute  

8 0
3 years ago
Joslyn Company manufactures metal brackets. The estimated number of metal bracket sales for the first three months of the curren
Alexus [3.1K]

Answer:

Production= 1,240 units

Explanation:

Giving the following information:

Sales:

February= 1,250

March= 1,200

Desired ending finished goods inventory is equal to 20 percent of the next month's sales.

To determine the production required for February, we need to use the following formula:

Production= sales + desired ending inventory - beginning inventory

Production= 1,250 + (1,200*0.2) - (1,250*0.2)

Production= 1,240 units

7 0
3 years ago
In January 2012, one US dollar was worth 50 Indian rupees. Suppose that over the next year the value of the Indian rupee decreas
satela [25.4K]

Answer:

59% - a)increase - b)decrease

Explanation:

First of all, we should say that the real exchange rate is calculated by multiplying the nominal exchange rate for the price index and then divide it by the price index of the other country. In another language, using this case as the example, the first nominal exchange rate is 50, as you need 50 rupees to buy 1 dollar. So to calculate the real exchange rate you need to multiply 50 by 100 (the price index of USA) and then divide it by 100 (the price index of India). Note that both price indexes are 100, just a coincidence for making easier the question. Result: 50.

Then we calculate the next real exchange rate: multiply 60 (the new nominal exchange rate) by 106 (the new US price index) and divide by 80 (the new India price index). This throws a result of 79,5. We see a 29,5 increase, and 29,5 represents 59% of 50 (the initial real exchange rate).

Then both questions is more common sense than the reading of the results we just calculated. For example, nominal exchange rate changed from 50 to 60, so the people in India will now have to collect 10 more rupees to buy the same dollar. Let's suppose a pair of shoes in USA costs 40 dollars. Before, Indians needed 2000 rupees to buy it. Now they will need 2400 rupees... it will be more expensive. Plus, the prices of USA had gone up 6%, which means the pair of shoes will now cost 42,4 dollars... even more expensive! As products in USA are more expensive, we can expect that India's consumption of American goods will decrease (law of demand).

With the American consumption of Indian goods happens the opposite, the goods in India became cheaper (price index has fallen), and for the Americans, the same dollars they had will buy more rupees when the exchange rate changed to 60.

3 0
3 years ago
When recording the payment of interest using the effective-interest method, the entry will include a ______ to Discount on bonds
goldfiish [28.3K]

Answer:Debit , market, stated.

Explanation: An actual payment of interest from a payables account is always entered as a debit in that account ledger. Then when calculating the effective interest : it is the the difference between the cash payment based on the market interest rate and interest expense based on the stated interest rate.

6 0
3 years ago
The following financial resources were among those received by Seco City during year 1:_____
Burka [1]

Answer:

A) $0

Explanation:

Seco City will record $0 as special revenue funds during year 1 with respect to the foregoing resources.

The $6,000,000 for acquisition of major capital facilities would be recorded as capital projects fund.

$2,000,000 to create a non-expendable trust would be recorded as private purpose trust fund.

8 0
3 years ago
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