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Zanzabum
3 years ago
11

To be most effective, a Code of Ethics must _______________ . be drafted in a positive actions or results-based approach be draf

ted to specify prohibited behavior need not apply to senior management be enforced with regard to all members of the organization
Business
1 answer:
jarptica [38.1K]3 years ago
4 0

Answer:

To be most effective, a Code of Ethics must be drafted in a positive actions or results-based approach.

Explanation:

A code of ethics can be defined as a document with several guidelines that guide people as to their ideal postures and attitudes, morally accepted or tolerated by society as a whole, framing the participants to a politically correct conduct and in line with good image that the entity or profession wants to occupy, including encouraging the voluntariness and humanization of these people and that, in view of the creation of some professional activities, is drafted, analyzed and approved by its competent class entity, organization or government, in accordance with with the attributions of the activity performed, so that it will suit the interests, struggles or desires of the community benefited by the services that will be offered by the professional on whom the code has an effect.

As such, a code of ethics sets standards that regulate the behavior of people within a company or organization. Although ethics are not coercive (they do not imply legal penalties), the code of ethics presupposes internal rules that are mandatory.

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Global Stores is downsizing and must let some employees go. Employees volunteering to leave are being offered a severance packag
Deffense [45]

Calculation of Present values of Severance pay                                

Cash Paid Now                                                                                   118000

Present value of the payment                         122857.02(129000*0.95238)    

made 1 year from now            

Present value of Annuity Pay                          139581.475 (27500*5.07569)

Present value                                                         380438

Employees often receive a severance pay at the end of their employment. This is usually based on the length of service the employee is entitled to upon retirement. The Fair Labor Standards Act (FLSA) does not require severance pay.

Some employers choose to provide severance pay to employees who have been dismissed involuntarily or voluntarily. The main reason for offering severance pay is to soften the blow of involuntary layoffs and avoid future lawsuits by having employees sign releases in exchange for severance pay.

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8 0
1 year ago
On December 29, 2019, Patel Products, Inc., sells a delivery van that cost $20,000. After recording the entry to bring the accum
nekit [7.7K]

Answer:

The debit balance for the vehicles account was $20,000, and the credit balance of accumulated depreciation account was $18,000.

  • Dr Vehicles account 20,000
  • Cr Accumulated Depreciation Vehicles account 18,000

then the van was sold for $2,000

  • Dr Cash account 2,000
  • Cr vehicles account 2,000

Since the carrying value of the van was $2,000 (= $20,000 - $18,000) and the van was sold for $2,000, Patel had no gain or loss from this transaction.

4 0
3 years ago
Your right to at least a portion of the benefits you have accrued under an employer pension plan is called
Cloud [144]

Answer:

Reverse annuity mortgage RAM

Explanation:

8 0
2 years ago
When Patey Pontoons issued 6% bonds on January 1, 2018, with a face amount of $600,000, the market yield for bonds of similar ri
Sliva [168]

Answer:

<u>1.- issued at : </u>$579,378

<u></u>

<u>2.- the schedule is attached.</u>

<u></u>

<u>3 and 4.- journal entries</u>

cash                                     579,378 debit

discount on bonds payable 20,622 debit

         bonds payabe                        600,000 credit

--to record issuance-------

interest expense 20278.23 debit

        discount on bonds payable     2278.23 credit

        cash                                  18000 credit

--to record June 30th payment---

<u>5.-At December 31th 2018 will report as follow:</u>

bonds payable        600,000

discount on bonds    (15,986)

                           net 584,014

<u>6.- it will report interest expense for:</u>

20,278.23 June

20,357.97 December

total: 40.636,2‬

7.- maturity:

interest expense 20,898.55

discount on bonds payable 2,898.55

cash 618,000

Explanation:

For the value of the bonds at issuance, we will calcualtethe present value of the coupon payment and the maturity at market rate.

C \times \frac{1-(1+r)^{-time} }{rate} = PV\\

C 18,000 ( 600,000 x 0.06/2)

time 8 (4 years x 2 payment per year

rate 0.035(market rate / 2)

18000 \times \frac{1-(1+0.035)^{-8} }{0.035} = PV\\

PV $123,731.1997

\frac{Maturity}{(1 + rate)^{time} } = PV  

Maturity   600,000.00

time   8.00

rate  0.035

\frac{600000}{(1 + 0.035)^{8} } = PV  

PV   455,646.93

PV c $123,731.1997

PV m  $455,646.9337

Total $579,378.1334

for the schedule we will multuply the carrying value by the market rate.

the ncompare with the proceed in cash to know the amortizaiton.

This amortization will increase the carrying value of the loan.

5 0
2 years ago
Listed below are four interbank cash transfers, indicated by the letters a, b, c and d, of a client for late December 20X1, and
zimovet [89]

Answer:

A. Unaffected

B. Unaffected

C. Understated

D. Overstated

Explanation:

C. Understated.

Understated balance is one that is reported as having a lesser balance than it actually does. example of what could cause the situation in which cash is understated is that when check is written on the disbursing bank on the last day of December with a credit to cash, and an associated debit to some expense account so as to decrease reported profits and taxes be it (direct or indirect tjaxes) for the year.

Another example is when a utility bill that is suppose to be paid by the last day of the month but failed to record the expenses, under the accrual basis of accounting, the company should recognize the expenses now even though the bill is not yet due. Until the bill is recorded, the utilities payable is understated

d. Overstated.

An overstated balance is an account balance that is reported as having a greater balance than it actually does, example of such situation is that in which an employee has misappropriated funds during the year, and draw a check transferring funds to the account with the shortage so as to cover the shortage. As of December 31, the shortage is replaced, with no reduction as yet recorded in the account on which it is drawn.

In second example of understated, expense account is understated and because of this net income is overstated.

5 0
3 years ago
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