The answer is to place warranty information in car windows
or also known as the used-car rule. Car dealers who sell used cars to their
consumers must follow the rules set by the Federal Trade Commissions, The Used
Car Rule. This Used car rule is applicable to all states, except for Maine and
Wisconsin.
People who make goods and services are called PRODUCERS.
They are called producers because they produce the goods and services needed by the consumers.
Consumers are people who requires the goods and services provided by the producers.
Answer:
<u>Opportunity</u>
Explanation:
A code of conduct creates a formal way of how employees maintain a standard of conduct while interacting and discussing ideas.
Such a conduct is essential for any organization since it implements the abidance by rules and organizational policies treating everybody equally and ensuring just and fair treatment to all.
In the given case, an employee observes the existence of a formal code of conduct at her workplace which is not implemented consistently at all levels and covering all employees.
Such negligence in implementation would lead to an enhancement of the possibility and creates an opportunity for employees to commit unscrupulous acts, being aware of the shortcomings in the implementation of such formal code of conduct.
Generally accepted government auditing standards define and describe three broad types of audits that may be performed: financial audits, attestation engagements and performance audits.
<h3>What is Government?</h3>
A government is refer as administrative body which helps in the proper functioning of the country by maintaining peace and order by implementing laws and legislation describe in the constitution.
Generally accepted government auditing standards are refers as measures or guidelines provided by the government to calculate the or check the accountability and performance.
Learn more about Government, here:
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Answer:
Explanation:
Because land never depreciates, Western Bank & Trust wanted to distribute a higher percentage of the purchase price to the building, rather than the land. By allocating 90% of the purchase price to the building, rather than a more accurate 70%, Western Bank & Trust increases the depreciation amount of the building each year. For tax purposes, the IRS requires that the Modified Accelerated Cost Recovery System (MACRS) be used as the depreciation method used by companies. Under this method, the IRS specifies the useful life for a specific asset. MACRS also ignores residual value of an asset at the end of its useful life. By stating that the building was worth 90% of the total purchase price, Western Bank is attempting to increase its tax deduction from the IRS, because only the building depreciates, not the land. This improper allocation of the total purchase amount violates GAAP principles, which require that accounting information be “relevant and have faithful representation.” The information must be “complete, neutral, and free from error” (Nobles, Mattison, & Matsumura, 2014). For Western Bank to provide complete, neutral, and free from error information, it should record the transaction honestly: 70% to the building, 30% to the land. This dishonest representation is harmful to the federal government in that it is allowing Western Bank to take more money than what it is owed. If these kinds of situations happen on a large scale, it could have a huge impact on the economy in general. Source: Nobles, T., Mattison, B., & Matsumura, E. M. (2014). Horngren's Accounting, 10th Edition. Pearson Education, Inc. Student 2
