After taking $45 billion in taxpayer funding to remain afloat, Citibank spent $50 million on a new private jet. this action was: unethical
What was the intention of taxpayer funding?
The taxpayer funding means that Citibank was granted a funding relief with taxes paid by the taxpayers to avert a collapse of the bank and to ensure the wider economy is not impacted negatively by the failure of a "too big to fail bank" such as the Citibank
The fact that funds meant to keep the bank liquid and to be able to continue smooth operations by having the required cash to meet obligations and they were diverted meant that directors at Citibank have acted unethically.
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Answer:
B. $214,000
Explanation:
The insurance premium paid for a 3 year period should not have been expensed out rightly but recognized as expense through periodic amortization spread over the entire period.
As such, the amount that should have been expensed in 2011 for insurance premium is
= 1/3 × $30,000
= $10,000
Recognizing an expense of $10,000 rather than $30,000 would have resulted in an increase in the tax expense by
= 70% × ($30,000 - $10,000)
= $14,000
As such, the retained earnings would have been
= $200,000 + $14,000
= $214,000
The overstatement of an expense would have resulted in an understatement of net income and thus and understatement of the retained earnings.
Answer:true
Explanation:
Being a millennial, he ought to have gathered enough experience even before joining the new company. Mr Blake to have gotten to the fleet of millennial would be able to think critically to access the customers online and also evaluate them.
Answer: 14,400; $17
Explanation:
Stock splits are a strategy by firms to increase the liquidity of their shares especially when they are trading at a high price. The firm divides the stock by a certain number thus increasing the number of shares by the multiple of the number. This action will divide the price of the stock and thus allow for more trade as they are cheaper.
A 4-for- stock split means that each share will become 4.
Your total number of share will become;
= 4 * 3,600
= 14,400 shares
The new price will be;
= 68/4
= $17 per share
I believe the correct answer from the choices listed above is the third option. The man responsible for creating the idea for assembly-line production, which drove down the cost of manufactured goods would be Henry Ford. <span>One of America's foremost industrialists, </span>Henry Ford<span> revolutionized assembly-line modes of production for the automobile.</span>
