Answer:
1. To reduce the company's tax bill, Jack uses total cost to value inventory instead of using product cost as required by law.
- Competence: accounting records must follows applicable laws, regulations and standards, you must IRA and GAAP rules when preparing financial statements and tax reports.
2. Since Emilie works in the accounting department, she is aware that profits are going to fall short of analysts' projections. She tells her aunt to sell stock in the company before the earnings release date.
- Confidentiality: accounting records must b confidential unless you are authorized to disclose them, and you are not authorized to disclose the information to your aunt.
3. Veronica pays a Mexican official a bribe of $50,000 to allow the company to locate a factory in that jurisdiction so that the company can take advantage of the cheaper labor costs. Without the bribe, the factory cannot be located in that location.
- Integrity: you must abstain from performing illegal activities, and bribery is illegal.
4. There is a failure in the company's backup system after a system crash. Month-end reports will be delayed. Kayla, the manager of the division experiencing the system failure, does not report this upcoming delay to anyone since she does not want to be the bearer of bad news.
- Credibility: you must report all relevant and important information regardless of whether that information will make you bad or not.
Answer:
Specialty Store
Explanation:
A specialty store is a store where it keeps the high brand, style or models having the narrow category of goods and services. The products like furniture, sporting goods, bookstores are categorized as the speciality stores.
Since in the given situaton, it is mentioned that the stores increase the usage of the designer boutique for highlighting the particular designers for the small market so this represent the speciality store of that retail institution
Budgeting is the key to manage personal finances. In order to realize budgeting one must be able to determine the importance of savings and manage expenses properly. Proper projection of expenses and savings should also been taken in order to maximize proper budget managing.
Answer:
The mini mart manager actually doing the right thing.
But The police still come and ask for the proof from the managers for the basis of the accusation
Explanation:
Most states in united states allowed Business establishment to legally detained the people who they suspect to be stealing. This action is protected under the probable cause.
But , there are several requirements that the business onwer needs to follow:
- They shall not intentionally harm the suspects
- They shall not publish the information about the case to the public unless the court determine that the suspect is guilty.
- The basis of the detain must be reasonable.
In the case above, the police will most likely come and ask the manager to provide proof. (usually by looking at the camera footage in the store or witnesses) . If the police believe the proof to be sufficient, the suspect will be processed accordingly.
Answer: $81.85
Explanation:
Additional Equity financing needed = Projected Assets - Projected liabilities - Projected increase in retained earnings - Current equity
Projected Assets = (Current Assets + Fixed Assets) * ( 1 + growth rate)
= ( 670 + 1,520) * ( 1.10)
= $2,409
Projected Liabilities = 360 * 1.1
= $369
Projected Increase in Retained earnings
= Sales * ( 1 + growth rate ) * profit margin
= 2,330 * 1.10 * 5%
= $128.15
Current Equity = Assets - Liabilities
= 670 + 1,520 - 360
= $1,830
Additional Equity financing needed next year= 2,409 - 369 - 128.15 - 1,830
= $81.85
