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vovangra [49]
3 years ago
13

Tyco International CEO Dennis Koslowzki was convicted of fraud because he__________________.

Business
2 answers:
kondaur [170]3 years ago
8 0

Answer:

The correct answer is letter "B": concocted accounting practices to overstate the company’s income over a four year period.

Explanation:

Ex-Chief Executive Officer (CEO) of Tyco International Leo Dennis Kozlowski (born in 1946) helped the company to boost its profits thanks to his risky management style during the but Kozlowski took advantage of the economic prosperity of the company for his personal good. He purchased different acres in Florida and made Tyco purchase him a $30 million department in Manhattan, New York.  

<em>Kolowski was charged for fraud in 2005 for rewarding himself with unauthorized bonuses for around $81 million in the 1997-2001 period.</em>

Reil [10]3 years ago
7 0

Answer:

A) Kozlowski was convicted of fraud because he used company money to buy a $30 million estate in Manhattan, Florida

Explanation:

Kozlowski prosecution’s emphasis in the first trial on lavish spending revealed that the furnishings at his Manhattan apartment included a $6,000 shower curtain and other extravagances that brought the price of the place to more than $30 million was pared in the second prosecution which led to his conviction.

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Answer:

Financialisation

Explanation:

Financialisation is about changes in the actual conduct and meaning of work .

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3 years ago
Business managers are often overly confident of their own hiring ability because they are more likely to monitor the successes o
olya-2409 [2.1K]

Answer:

Confirmation bias

Explanation:

Confirmation bias occurs from the direct influence of desire on beliefs. When people would like a certain idea or concept to be true, they end up believing it to be true. They are motivated by wishful thinking. This error leads the individual to stop gathering information when the evidence gathered so far confirms the views or prejudices one would like to be true. Once we have formed a view, we embrace information that confirms that view while ignoring, or rejecting, information that casts doubt on it. Confirmation bias suggests that we don’t perceive circumstances objectively.  A confirmation bias is a type of cognitive bias that involves favoring information that confirms your previously existing beliefs or biases.

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5 0
3 years ago
Read 2 more answers
Lionel is an unmarried law student at State University Law School, a qualified educational institution. This year Lionel borrowe
UNO [17]

Answer:

Since 2019, the deduction limit for interest expense deductions on qualified higher education loans is $2,500. In order to qualify for this deduction, the taxpayer's adjusted AGI must be less than $85,000 for single filers (Lionel's income is below the threshold).

So Lionel will be able to deduct $1,650 as interest expense (above the line deduction).

Lionel can also deduct $2,500 form the American Opportunity Tax Credit for higher education expenses.

7 0
3 years ago
Smith &amp; Jones, Accountants, agrees to perform an audit for Brick &amp; Mortar Stores, Inc.
makvit [3.9K]

Answer:

a. want to avoid potential disputes.

Explanation:

The auditors are liable to report all the acts of the company, whether are in confirmation of law or not. This is because it is their duty to put a review on the balance sheet, and provide the users of such balance sheet the trust on the information presented.

Even if the agreement do not provide for complete details making it a valid contract this is sure that they need to act properly so that any moral dispute do not occur and that, all the work is done according to the responsibilities.

3 0
3 years ago
DJFats Company determined that the 2019 ending inventory had been overstated by $11,200 AND that the 2019 beginning inventory wa
horrorfan [7]

Answer:

a. $103,400

Explanation:

As we know that

Cost of goods sold = Beginning inventory + purchases - ending inventory

And,  

Gross profit = Sales revenue - cost of goods sold

Since in the question it is given that

The ending inventory and beginning inventory had been overstated by $11,200 and $6,600 respectively

Since overstatement in the initial inventory raises the cost of the goods sold and decreases by that amount the gross profit & net income

And, overstatement in ending inventory reduced cost of goods sold and raised gross profit & net income by that amount.

So for overstated ending inventory the amount should be deducted and for overstated beginning inventory the condition would be reverse

So, the correct amount is

= incorrect pretax net income + overstatement in beginning inventory - overstatement in ending inventory

= $108,000 + $6,600 - $11,200

= $103,400

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3 years ago
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