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natulia [17]
3 years ago
6

In one of the case studies in the textbook, Marcus Lane, a geologist for an environmental management and engineering services fi

rm, traveled all over North and South America as part of his job, resulting in numerous expense reimbursements. Unfortunately, Lane went too far and began to double book his air travel using his personal credit card. He booked two separate flights to the same location, but with a huge cost difference. He used the cheaper ticket for the actual flight and returned the more expensive ticket for credit. And, of course, he submitted the more expensive ticket for reimbursement. How was his scheme detected
Business
1 answer:
aalyn [17]3 years ago
5 0

Answer: The internal auditor discovered it when performing a routine audit of expense reimbursements

Explanation:

Marcus Lane, was a geologist who travelled all over North America and South America and this results in several expense reimbursements. Lane engaged in fraudulent activity by double booking his air travel.

He used cheaper ticket for the actual flight and more expensive ticket was returned for credit. But, he submitted the expensive ticket for reimbursement.

The fraud was discovered by the internal auditor while doing a routine audit of expense reimbursements. He was terminated and he agreed to pay the money back.

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A country finds itself in the following situation: the government budget surplus is 2% of its GDP; private savings is 30% of GDP
DaniilM [7]

Answer:

The current account deficit will increase from 1% to 31% of GDP.

Explanation:

National saving and investment identity helps in understanding the determinants of trade and current account balance. The current account is in balance when the quantity demanded of financial capital is equal to the quantity supplied of financial capital.  

Here, the government saving or surplus and private savings are the supply of financial capital and investment indicates demand for financial capital.

The current account balance is

= Supply of capital - Demand for capital

= (30 + 2)% - 33%

= 32% - 33%

= -1%

So the current account is in deficit by 1% of GDP.  

If the private savings becomes zero, the current account balance will be

= Supply of capital - Demand for capital

= 2% - 33%

= -31%

The current account will be in deficit by 31%.

8 0
3 years ago
If both supply and demand increase at the same time, then __________
Lelechka [254]

Answer:

A

Explanation:

the price of product will increase

7 0
2 years ago
Use the In the News to answer three questions
Flauer [41]

Answer:

2%

2.5%

1.67%

Explanation:

The yield can be computed using the yield formula which coupon payment divided by price.

The coupon payment=face value*coupon rate

face value is $1000

coupon rate is 2%

coupon payment=2%*$1000=$20

when price is $1000:

yield =$20/$1000=2%

when price is $800

yield=$20/$800=2.5%

when price is $1,200

yield =$20/$1,200=1.67%

In essence ,the lower the price the higher the yield as lower amount is invested in order to receive the same amount of annual coupon of $20

3 0
2 years ago
Does anybody know this please help !?
levacccp [35]

Answer:

11. building codes

12. Consideration

13. Consumer Protection

14. Federal Unemployment Tax Act

15.  Zoning laws

Explanation:

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6 0
3 years ago
Selected information from Gerrard, Inc.’s financial activities in the year 2004 was as follows: Net income was $330,000. The tax
ValentinkaMS [17]

Answer:

$0.26

Explanation:

diluted earnings per share (EPS) = (net income - preferred dividends) / (weighted average outstanding shares + diluted shares)

net income = $330,000

preferred dividends = 2,000 x $500 x 8% = $80,000. Since the preferred stocks are convertible, they will be considered diluted shares. Therefore, no preferred dividends will be included in the calculation.

weighted average outstanding shares:

  • January 1 = 700,000 x 12/12 = 700,000
  • March 1 = 200,000 x 10/12 = 166,666.7
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diluted shares = 2,000 preferred stocks x 200 = 400,000

diluted EPS = $330,000 / (866,666.7 + 400,000) = $0.260526247 ≈ $0.26

8 0
3 years ago
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