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Natasha_Volkova [10]
4 years ago
13

Elevators, Inc. does considerable business overseas for high-rise luxury hotels. To speed up the building permit process, it aut

horized a project manager to pay a government official a "fee" in the amount of $500. It is common practice in the foreign country for government officials to accept a "fee" to expedite processes. In doing so, has Elevators, Inc. broken United States law? Select one
Business
1 answer:
AleksAgata [21]4 years ago
3 0

Answer:

No, Elevators, Inc. has not broken the law because payment was made in United States currency.

Explanation:

It operates a substantial business abroad for high-end luxury hotels. It authorized a project manager to "charge" a government official a charge of 500 for speeding up the building permit process. so

  • Under the law, it is illegal to bribe foreign officials to get business. But there is an exception to "facilitation payments", also known as grease payments made to speed up general government functions.
  • Flexible payments can be used to persuade government officials to perform work that is already being done. Although many have argued that such payments are important for their operations in some areas, such as Asia and Africa, the difference between facility payment and bribery remains unclear.

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To minimize the temptation for managers to act in their own self-interest, governance mechanisms exist for implementation consid
soldier1979 [14.2K]

Answer:

A board of directors that act in the best interests of the shareholders to create long term value.

Explanation:

Sarbane oxley acts is a law law that was created to protect the interest of every shareholder . One of its requirement is a good composition of the board of directors considering their skills and independent requirement. It also emphasize the need for strong compliance with ethical standard in the interest of the shareholders.

Therefore , one of the key responsibilities of the board of directors is to act in the best interests of shareholders to create long term values. By so doing , managerial behavior will be monitored for compliance to ethical standard

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3 years ago
2. Grocers Absorb Rise in Food Prices to Keep Customers From Straying Dec. 17, 2017 7:00 a.m.
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In the last two years, BMW AG, the Bavarian auto maker, has developed a car made primarily from carbon-fibers that is not only l
Elis [28]

The new manufacturing plant of BMW vehicles will be engaged in the process of mass production.        

<h3>What is mass production?</h3>

The process of production, wherein a large proportion of goods or inventories are produced by a business organization to reduce the costs of production, is known as mass production.

Hence, option B states about mass production. Complete question has been added in the image for reference.

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5 0
2 years ago
Diaz Company owns a milling machine that cost $250,000 and has accumulated depreciation of $182,00. Prepare the entry to record
Minchanka [31]

Answer:

Explanation:

The journal entries are shown below:

1.  Accumulated depreciation A/c Dr $182,000

   Loss on machine A/c Dr $68,000

              To Machine A/c $250,000

(Being the dispose of the machine is recorded)

2. Cash A/c Dr $35,000

   Accumulated depreciation A/c Dr $182,000

   Loss on machine A/c Dr $33,000

              To Machine A/c $250,000

(Being the sale of the machine is recorded)

3. Cash A/c Dr $68,000

   Accumulated depreciation A/c Dr $182,000

              To Machine A/c $250,000

(Being the sale of the machine is recorded)

4.  Cash A/c Dr $80,000

   Accumulated depreciation A/c Dr $182,000

              To Machine A/c $250,000

              To  Profit on machine A/c Dr $12,000

(Being the sale of the machine is recorded)

4 0
3 years ago
The following balances were taken from the books of Splish Corp. on December 31, 2017.Interest revenue $87,550 Accumulated depre
Karolina [17]

Answer:

Sales revenue                        1,381,550

Sales discounts                        (46,550)

Sales returns and allowances (151,550)

net sales                                   1,183,450

Cost of goods sold                <u>  (622,550)  </u>

gross profit                               560,900

Admin and general expenses  (98,550)

Selling expenses                      (195,550)

Operating Income:                    266.800‬

Non-operating income:

Interest revenue  87,550

Interest expense (61,550)

Loss from earthquake

damage                (151,550)

non-operating loss                   (125,550)

Income before taxes                  141.250‬

income tax expense (34%)         (48,025)

Net income                                   93,225‬

Explanation:

First, we calcualte net sales,

then the gross profit.

Then, the interest and earthquake will be disclosure separately as they are not operational result. Do not arise from the normal business operations.

Finally, the net income is determined after reducing the income tax expense

5 0
3 years ago
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