All categories

3 years ago

An accountant who blows the whistle on financial wrongdoing by his/her employer by going outside the entity violates:

Business

1 answer:

stepladder [879]3 years ago

5 0

Answer:

1. The correct answer is b) Confidentiality.

2. The CEO supports the CFO and does not agree to correct the financial statements

Explanation:

1. Confidentiality is an important element for different companies and professions, for example, through confidentiality, companies protect much of their information. That is why many companies make a confidentiality agreement with their employees when hiring them with the aim that the Company information is not shared for any reason.

There are confidentiality agreements that remain in force after people have stopped working at the company, for example in the case of the accountant who denounces the financial irregularities of his former boss, violates the confidentiality agreement and if his employer shows that he has no irregularity he can sue the accountant for not complying with the agreement.

2. Executive Director of the company is known as the CEO, whose function is the development of the business plan and the organization of the company.

The CFO is the acronym for the financial director in companies, they have the function of financial planning.

In companies, Executive Director (CEO) has the authority to accept or deny actions to be taken, for example, he has the authority to tell the chief financial officer (CFO) not to correct the company's financial statements. When the company has problems, it may be that the CEO and CFO will have responsibilities taking into account their functions.

<em>I hope this information can help you.</em>

You might be interested in

A new investment project currently under consideration has a negative net present value of $85,000. The project has a life of 10

KIM [24]

Answer:

correct option is $12,668

Explanation:

given data

net present value = $85,000

time = 10 year

rate of return = 8%

solution

we apply here formula for Present Value of annual additional cash flow that is

Present Value of annual additional cash flow = Annual cash flow × present value factor for an annuity ............................1

put here value

$85,000 = Annual cash flow × 6.71

Annual cash flow = $12,668

so here correct option is $12,668

3 0

3 years ago

Overhead Variance (Over- or Underapplied), Closing to Cost of Goods Sold

Bogdan [553]

Answer:

This question has two requirements answer of each requiremnt is given below.

Dispose of the overhead variance by adjusting Cost of Goods Sold. Adjusted COGS $____

Applied Overhead = 532,000 * 80% =$ 425,600

This show that overhead are over apllied, so

Adjusted COGS = $1,890,000 - (425,600 -423,600)

= $ 1,888,000

Calculate the overhead variance for the year. $____

Overhead variance = Applied Overhead - Actual Overhead

= 425,600 -423,600

= $ 2000 (Favorable variance)

4 0

3 years ago

Eviyan recently received a copy of his performance review report. During the review, his manager took notes regarding his perfor

Sladkaya [172]

Answer:

Eviyan's Performance Evaluation Report:

The manager has scheduled him for a meeting for a performance feedback interview.

Explanation:

Performance feedback interview is an opportunity for the employee to meet with his manager in order to iron out issues and reflect on the outcome of the evaluation. The employee will also be required at the interview to explain and defend the performance result face to face with the manager. Since there are always some differences in perception and evaluation, the interview provides that needed chance for a detailed discussion so that corrective measures will be defined and agreed upon. It is a good performance policy to schedule such an interview following a performance evaluation report.

3 0

3 years ago

Forrester Company is considering buying new equipment that would increase monthly fixed costs from $276,000 to $544,500 and woul

REY [17]

Answer:

The correct answer is E.

Explanation:

Giving the following information:

Forrester Company is considering buying new equipment that would increase monthly fixed costs from $276,000 to $544,500 and would decrease the current variable costs of $60 by $15 per unit. The selling price of $100 is not expected to change.

Break-even point (dollars)= fixed costs/ contribution margin ratio

Break-even point (dollars)= 544,500/ [(100-45)/100]

Break-even point (dollars)= $990,000

6 0

3 years ago

Read 2 more answers

For the current year temporary differences existed between the financial statement carrying amounts and the tax basis of the fol

Veseljchak [2.6K]

Answer:

Income Tax Expense (Dr.) $49,080,000

Deferred Tax Liability (Cr.) $49,080,000

Explanation:

Income tax expense = ( Taxable Income for the year + building and equipment taxable amount + Prepaid Insurance - Liability or contingency Loss ) * Tax rate

Income Tax expense = ( $117,000,000 + $14,700,000 + $2,300,000 - $11,300,000) * 40%

Income Tax expense = $49,080,000

8 0

3 years ago