Answer: Fictitious refunds
Explanation:
A fictitious refund scheme, occurs when a fraudster processes a transaction to look as if a customer was returning a merchandise, even though there was no actual return. While some fraudsters create an entirely fictitious refund, other fraudsters just overstate the amount of a legitimate refund that took place and steal the excess money.
Billy Mitchell covering his gambling debts, issuing several refund credits to his personal credit card for amounts that were below the store’s review limit is an example of fictitious refund scheme.
Answer:
Division N's purchase costs will decrease by $90,000 per year
Explanation:
Division N's purchase cost form outside vendor = total units purchased per year x unit price = 30,000 units x $15 = $450,000
if Division N obtains the product form division M with a transfer price of $12 per unit, their costs will decrease by = total units x (vendor price - transfer price) = 30,000 units x ($15 - $12) = $90,000 per year
Answer: Opportunity cost
Explanation:
From the question, we are informed that Joe sold gold coins for $1000 that he bought a year ago for $1000 and he said that at least he didn't lose any money on my financial investment.
We are further told that his economist friend points out that in effect he did lose money, because he could have received a 3 percent return on the $1000 if he had bought a bank certificate of deposit instead of the coins.
This is a concept of opportunity cost. Opportunity cost is what one forgoes when one makes a different choice. The opportunity cost in this case is the bank certificate of deposit.