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skelet666 [1.2K]
3 years ago
11

Scott Bestor is an accountant for Westfield Company. Early this year, Scott made a highly favorable projection of sales and prof

its over the next 3 years for Westfield's hot-selling computer PLEX. As a result of the projections Scott presented to senior management, the company decided to expand production in this area. This decision led to dislocations of some plant personnel who were reassigned to one of the company's newer plants in another state. However, no one was fired, and in fact the company expanded its workforce slightly.Unfortunately, Scott rechecked his projection computations a few months later and found that he had made an error that would have reduced his projections substantially. Luckily, sales of PLEX have exceeded projections so far, and management is satisfied with its decision. Scott, however, is not sure what to do. Should he confess his honest mistake and jeopardize his possible promotion? He suspects that no one will catch the error because PLEX sales have exceeded his projections, and it appears that profits will materialize close to his projections.Instructionsa. Who are the stakeholders in this situation?b. Identify the ethical issues involved in this situation.c. What are the possible alternative actions for Scott? What would you do in Scott's position?Post your Initial Response by Wednesday of Week 5 and 2 follow up comments by Sunday.
Business
2 answers:
Talja [164]3 years ago
6 0

Answer

Explanation:

The stakeholder are;

1. The senior management

2. Suppliers of materials

3. Scott Bestor the accountant

4. The Financial Community.

5. The employees

B) The ethical issues  are;

1. Scott mistakes

2.Scott promotion on the line

3. Financial set back from Scott's mistake

(c) Alternative actions:

1. The senior management should be informed about his mistake

2. If his mistake will not cause any damage, he can keep quit.

If I were in Scott's position, I would open up to the senior management. Honesty is what the company look forward to in any employee.

Yuki888 [10]3 years ago
3 0

Answer a

The stakeholder in this situation arer as follows =>

1. Scott

2. Managemnet of a Company

3. The Financial Community.

Answer b

Ethical Issues are ;

Loyalty of Scott towards Company and its management.

He should excercise due vigilence while making projections for sales.

Answer c

Possible Actions are

1. Ignore the matter

2. Inform then Boss or Management.

3. Inform the boss and follow the standard procedure

I would have told the management of the error I made if I were in his place, showing my integrity and loyalty to the company without realizing that my integrity might jeopardize my promotion. But being ethical and trustworthy will also benefit me in the long run.

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Feliz [49]

Answer:

False

Explanation:

Kevin should not rise the level of production from 5 to 6 as the impact of the price dominates this situation

Also the market is not depend on the Kevin fire engines because of the competitive market

Plus the supply and demand relation is inverse and not depend on the change in price level in a competitive market

If the price is decreased from $160,000 to $120,000 so the quantity of the production would not be impacted

In addition to this, the total revenue could be impacted when there is a reduction in the price that produced more sale due to this there is a slightly change in upward and downward

Also the change would never be in the similar production as compare to the change in price

Therefore the given statement is false

8 0
3 years ago
In the country of Mashwen, the state owns key industries such as energy and transportation. The rest of the industries are priva
zzz [600]

Answer:

Mixed economy.

Explanation:

In the country of Mashwen, the state owns key industries such as energy and transportation. The rest of the industries are privately owned. Mashwen is a <u>Mixed</u> economy.

Mixed economy: It is a shared economy system, which has equal role of private enterprises and public enterprises. In the current global market, most of the economy are mixed economy. It allow private enterprises with equal opportunity to participate in the market, it create healthy competition among different player and buyer can have variety of product at low price.

8 0
3 years ago
Bill and Nancy, managers at Sanzen Inc., want to the check the consistency of results for a performance measure that uses rating
DochEvi [55]

Answer:

Inter-rater reliability.

Explanation:

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3 0
3 years ago
Bonnie Austin, age 30, used to work part time in a local restaurant. This year she quit her job to take care of her five-month-o
sergiy2304 [10]

Answer:

The survey conducted by the Bureau of Labor Statistics today will count Bonnie as not in the labor force .

Explanation:

" not in the labor force " -

The people who are not employed and even are not unemployed are called the " not in the labor force " .

The people who are present in this category are the -

  • retired peoples ,
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All of them fall in this category .

Hence , according to the survey , Bonnie is under the category of " not in the labor force " .

3 0
3 years ago
Assume that Jordan ​Enterprises's radio broadcast license is renewable at the end of each 10​-year term and management has provi
yan [13]

Answer:

Jordan Enterprises

1) The impairment loss = $110,000.

2) Journal Entry to record the impairment loss:

Debit Broadcast License Impairment Loss $110,000

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Explanation:

a) Data and Calculations:

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Impairment loss =                                                $110,000

b) US GAAP defines impairment loss as the decrease in an asset's net carrying value.  This means that impairment loss arises when the book or net carrying value is greater than the future estimated cash flows or the market value of the asset.

8 0
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