Answer: The internal auditor discovered it when performing a routine audit of expense reimbursements
Explanation:
Marcus Lane, was a geologist who travelled all over North America and South America and this results in several expense reimbursements. Lane engaged in fraudulent activity by double booking his air travel.
He used cheaper ticket for the actual flight and more expensive ticket was returned for credit. But, he submitted the expensive ticket for reimbursement.
The fraud was discovered by the internal auditor while doing a routine audit of expense reimbursements. He was terminated and he agreed to pay the money back.
Answer:
Mark's individual consumer surplus is $10.
Explanation:
Mark and Rasheed are at the bookstore buying new calculators for the semester.
Mark is willing to pay $75 and Rasheed is willing to pay $100 for a graphing calculator.
The price for a calculator at the bookstore is $65.
The consumer surplus is the difference between the maximum price that a consumer is willing to pay and the price he actually has to pay.
Mark's individual consumer surplus
= Price mark was willing to pay - Price he actually has to pay
= $75 - $65
= $10
Answer:
the benefit of carrying out the project is $119,666 in today's $
Explanation:
initial outlay = -$2,800,000
cash flow 1 = $820,000
cash flow 2 = $820,000
cash flow 3 = $820,000
cash flow 4 = $820,000
cash flow 5 = $820,000
discount rate = 12.5%
NPV = -$2,800,000 + $820,000/1.125 + $820,000/1.125² + $820,000/1.125³ + $820,000/1.125⁴ + $820,000/1.125⁵ = $119,666
The moral hazard in the banking system over the period of time are the bank leverage will increase and liabilities will also increase.
<h3>
What is the history of banking?</h3>
The first prototype banks in the history of banking were the merchants of the world, who lent grain to farmers and traders who transported products between towns. In Assyria, India, and Sumeria, this occurred circa 2000 BCE. Later, during the time of the Roman Empire and in ancient Greece, lenders headquartered in temples provided loans while also taking deposits and handling currency exchange. Evidence of money lending can also be seen in the archaeology of ancient China and India. The wealthy cities of Florence, Venice, and Genoa are among those where many academics locate the historical origins of the contemporary banking system. The Bardi and Peruzzi Families controlled the banking industry in Florence in the fourteenth century, opening branches across much of Europe.
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Answer:
128,500 units
Explanation:
The computation of required to realize income from operations is shown below:-
Required sales in (units) = Target contribution margin ÷ contribution margin per unit
= (Fixed cost + target income from operations) ÷ (Selling price per unit - variable cost per unit)
= ($14,300,000 + 2,405,000) ÷ ($380 - $250)
= $16,705,000 ÷ $130
= 128,500 units
