Even if they were unaware of the fraud, accountants may be held accountable for it.
<h3>How does constructive fraud work?</h3>
A legal fable known as "constructive fraud" describes a circumstance in which a person or organization obtained an unfair advantage over another using dishonest or unjust means. As opposed to true fraud, no proof of intent is required. The failure to inform clients of product flaws is one example of unfair practices.
The elements are:
1) a duty owed by the party to be charged to the complaining party due to their relationship;
2) violation of that duty by making deceptive material misrepresentations of past or current facts or remaining silent when a duty to speak exists; and
3) reliance on such statements by the complaining party.
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One of the primary reason for this problem is because the
information has been trapped in data silos. In which, a data silos is being
defined as a set of files that are separated or not part of the organization’s
data administration and by this, it could be the main reason as to why the
health care organizations are experiencing the following experiences.
It is true that the qualities needed for effective leadership are the same as those needed to be an effective follower.
<h3>Who is a leader?</h3>
A leader is someone who gets things done through others. A leader rely on his or her followers to be able to achieve an organizational' s goals and objectives.
For a leader to be able to deliver effectively, he or she must have followers who have similar goals and must be effective as well.
Hence, it is true that the qualities needed for effective leadership are the same as those needed to be an effective follower.
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Answer:
Item Inventory at the lower-of-cost-or-market
#1 $214.50
#2 $240.00
#3 $266.50
#4 $315.00
#5 $422.50
Explanation:
Note: This question is not complete. The complete question is therefore provided before answering the question. See attached pdf file for the complete question.
Also note: See the attached excel file for the determination of the value of inventory by applying the lower-of-cost-or-market rule.
From the attached excel file, we have:
Item Inventory at the lower-of-cost-or-market
#1 $214.50
#2 $240.00
#3 $266.50
#4 $315.00
#5 $422.50
<span class="sg-text sg-text--link sg-text--bold sg-text--link-disabled sg-text--blue-dark">
xlsx
</span>
<span class="sg-text sg-text--link sg-text--bold sg-text--link-disabled sg-text--blue-dark">
pdf
</span>
