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Katena32 [7]
3 years ago
6

Please consider the scenario below and let us know if you believe Lauren Smith's actions to be ethical. Please let us know why o

r why not.
Lauren Smith is the controller for Sports Central, a chain of sporting goods stores. She has been asked to recommend a site for a new store. Lauren has an uncle who owns a shopping plaza in the area of town where the new store is to be located, so she decides to contact her uncle about leasing space in his plaza. Lauren also contacted several other shopping plazas and malls, but her uncle’s store turned out to be the most economical place to lease. Therefore, Lauren recommended locating the new store in her uncle’s shopping plaza. In making her recommendation to management, she did not disclose that her uncle owns the shopping plaza.

if management decided to go with Lauren's uncle's plaza, what additional information would be needed in the financial statements?
Business
1 answer:
9966 [12]3 years ago
8 0

Answer:

there should be a related party (connected person) disclosure in the financial statement.

Explanation:

Lauren Smith's action is unethical. Having not disclosed this to management is a dishonest action. Ethical behaviour entails being honest and truthful at all times. In accounting (financial statement reporting) connected persons transactions are disclosed as notes to the account. This is to determine it such transactions were done below market value or for other considerations.

Thus, the transaction (lease) will have a note stating that the lease was from an Uncle of the firm's financial controller.In this way, it will show transparency that the firm is not trying to hide some fundamental facts of the transaction.

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DramPharma is a company that manufactures and sells medicine to treat Huntington's disease, a rare genetic disorder. The company
user100 [1]

Answer:

Defender Strategy

Explanation:

Defender Strategy -

It is the starter adapted by a company or organisation , to protect the company from the upcoming new competitors .

Therefore , the company tries to make some changes in the structure , technology and in the method of operations to maintain itself in the market .

hence , from the question data , DramPharma would most likely be categorized as a Defender .

8 0
4 years ago
A property management company hit its corporate goals for the year by increasing profits by 5%, two points higher than its 3% go
oksano4ka [1.4K]

Available Options Are:

A. Continue training to improve its employees' skills  

B. Promote the best associates to managers  

C. Threaten lay-offs if goals are not hit  

D. Provide positive reinforcement for hitting goals

Answer:

Option D. Provide positive reinforcement for hitting goals

Explanation:

The training program is not required as the managers are already trained which means their is not skills deficit which has resulted in not achieving the business goals. Hence Option A is incorrect.

Option B is also incorrect because previously the same managers had achieved the goals hence promoting best associates to managers will not be impact making.

Option C is incorrect because threatening may result in further demotivating employees and it will also increase employee turnover. Hence it is also not a solution.

Option D is correct because the employees are demotivated and all they need is motivation which can be developed by developing a system of reward. This can be achieved by linking their interests with the company's interest. If they achieve their target then they must be awarded a certain portion of the target say 1%. This will increase their motivation to earn more by making additional sales.

7 0
3 years ago
An international organization created in 1958 to make trade easier among member nations:
Veseljchak [2.6K]
The answer is "<span>EEC or European Economic Community".
</span>
The EEC was otherwise called the Common Market in the English-speaking nations and sometimes alluded to as the European Community. 
The European Economic Community (EEC) was a provincial association which expected to achieve financial combination among its part states. The European Economic Community (EEC), the most noticeable case of a free trade region, really is the thing that financial experts call a customs union.
4 0
3 years ago
Read 2 more answers
All three of the $5000 billion GDP figures (Production, Income and Spending) are in ____________ dollars.a. Unadjusted, seasonal
Nataliya [291]

Answer:

The correct answer is letter "D": Inflation adjusted, real.

Explanation:

The real value is one that has been adjusted for inflation, allowing amounts to be measured as if the market price of goods had remained the same. Moreover, real-life modifications in value omit the impact of inflation. Following this process, the <em>real Gross Domestic Product</em> (<em>GDP</em>) can be calculated.

4 0
4 years ago
The underlying principle of the temporal method is Group of answer choices all balance sheet accounts are translated at the curr
Inga [223]

Answer:

monetary accounts are translated at the current exchange rate; other accounts are translated at the current exchange rate if they are carried on the books at current value; items carried at historical cost are translated at historic exchange rates.

Explanation:

The principle of the temporal method means that the accounts that are monetary in nature would be transform at the current or present exchange rate, also the other account would be transform but they should be at the current value. In addition to this, if the items are at historical cost so they should be transform at historic exchange rates

Therefore the last 2nd option is correct

3 0
3 years ago
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