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vichka [17]
3 years ago
10

Jim was a crook. He embezzled $450,000 from his employer. When his employer found out about his misdeeds, before even conducting

a thorough investigation, he went and gave all the details to a local newspaper agency. The next day Jim read his own story, with his own name, in the newspaper. Which of the following is correct? a. Publishing the story in the newspaper was a wrong thing to do because Jim's family will be embarrassed. b. Jim may have been misrepresented in the story by the newspaper agency and the company might face legal consequences. c. The company did the right thing by publishing Jim's identity in the newspaper because it punished him for stealing as well as served a warning to his neighbors who might also be at the risk of being defrauded. d. The company should not have put Jim's name and story in the paper because when other employees will come to know about it, they might leave the organization.
Business
1 answer:
kati45 [8]3 years ago
4 0

Answer:

b. Jim may have been misrepresented in the story by the newspaper agency and the company might face legal consequences.

Explanation:

Jim has the right to take legal action against the company for releasing the story. The investigation had not been completed and all facts had not been established by the company.

Also the newspaper did not contact Jim to get his own side of the story before publishing, that could have revealed pertinent information about the case.

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Lyons Company deducts insurance expense of $210,000 for tax purposes in 2018, but the expense is not yet recognized for accounti
djyliett [7]

Answer:

The total income tax expense for 2019 =152.000. Is not available in the options given by the exercise.

Explanation:

  • Tax on insurance expense deductible for accounting purposes in 2019= 70000*40%=28.000

  • Income tax expense for 2019 = 180.000-28.000=152.000

4 0
3 years ago
Ariana withdrew $400,000 out of her personal savings account and used it to start her new Internet cafe. The savings account pay
Vikki [24]

Answer:

The Ariana's accounting profit for the year was $6,000

Explanation:  

Accounting Profit : The accounting profit is that profit which records the difference of total revenues and total direct cost.

Where,

Total revenues includes sales revenues

And total cost includes monetary cost, etc.

So,

Accounting profit = Total revenues - Total cost

where

Total revenues = 2,000 × $2.5 + 4,000 ×$2.5 = $15,000

Monetary cost = $9,000

So,

Accounting profit = $15000 - $9000 = $6,000

Hence, the Ariana's accounting profit for the year was $6,000

7 0
3 years ago
Tiggie’s Dog Toys, Inc. reported a debt-to-equity ratio of 1.75 times at the end of 2018. If the firm’s total assets at year-end
il63 [147K]

Answer:

Total debt is $15.91million

Total equity is 9.09miliion

Explanation:

Debt-to-equity ratio relates to how a firm is financing its operations through debt versus shareholders' equity(owners' fund)

The formula is: Total debt/total equity

Debt-to-equity ratio = 1.75times

Total assets =$25 million

We know the Equity = Asset - liability(debt)

We can rewrite the equation as:

Debt-to-equity ratio = Total debt/asset - debt

Let's represent debt as 'y'

1.75 = y/$25million - y

y = 1.75($25million - y)

y = $43.75 - 1.75y

Collect the like terms

y + 1.75y = $43.75million

2.75y = $43.75million

y = $43.75million/2.75

y = $15.91million

Therefore, total debt is $15.91million

Using the same formula: Total debt/total equity

Lets represent equity with z

1.75 = $15.91million/z

z = 15.91million/1.75

z = 9.09miliion

Therefore total equity is 9.09miliion

6 0
4 years ago
Read 2 more answers
Total surplus with a tax is equal to a. consumer surplus minus producer surplus. b. consumer surplus plus producer surplus plus
anygoal [31]

Answer:

Option (b) is correct.

Explanation:

The total surplus is defined as the sum total of producer surplus and consumers surplus. Total surplus with a tax is defined as the combined total of producers and consumers surplus and tax revenue that is earned by the government of a particular nation.

Consumers surplus = Willingness to pay for the product - Actual amount paid for the product

Producers surplus = Actual amount received for the product - Willingness to accept for the product

6 0
3 years ago
The manager of a retail store notices that 7% of the inventory is missing. She doesn’t know if the merchandise was stolen, lost,
hodyreva [135]

Answer:

<u>(D) ​inventory obsolescence</u>

Explanation:

  • It is known as the phase where the inventory is at the end or final stage of its product cycle. This inventory can be sold or used for the long run and is then not expected or liable to be given or sold in the future by the company.
  • As she doesn't know whether the inventory is missing or does not know if it has been broken or stolen, she can note this down and thus can asset for the criteria following the valid integrity testing.
8 0
3 years ago
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