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trapecia [35]
3 years ago
14

Jane Tucker is the ethics officer for a publicly traded company. She is concerned that the company does not have a mechanism for

anonymous reports of issues by employees. The CEO is not inclined to spend the money required to set up a hotline or any other reporting mechanism. Which of the following statements is true about this situation?
A) ​As long as the company has an ethics officer to whom employees can report concerns, it has done everything necessary to enjoy the protections under the Federal Sentencing Guidelines.
B) ​With Jane as an ethics officer and adding in a code of ethics, the company has met the two required prongs for the Federal Sentencing Guidelines.
C) Without an anonymous reporting system, the company does not meet the minimum requirements for the protections of the Federal Sentencing Guidelines.
D) The Federal Sentencing Guidelines protections do not apply to publicly traded companies under Dodd-Frank.
Business
1 answer:
BabaBlast [244]3 years ago
7 0

Answer: C) Without an anonymous reporting system, the company does not meet the minimum requirements for the protections of the Federal Sentencing Guidelines.

Explanation:

Based on the information given, it should be noted that since there's no anonymous reporting system, the minimum requirements for the protections of Federal Sentencing Guidelines isn't met by the company.

The Federal Sentencing Guidelines simply refers to the rules that with regards to the uniform policy through which the individuals and the organizations that have been convicted of felonies and every other misdemeanors are set up. In this case, the requirements hasn't been met since there is no anonymous reporting system.

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Thomson Co. produces and distributes semiconductors for use by computer manufacturers. Thomson Co. issued $240,000 of 10-year, 9
34kurt

Answer:

Thomson Co.

Journal entries:

May 1:

Debit Cash Account $240,000

Credit Bonds Payable $240,000

To record the issue of 10-year, 9% bonds at face value.

Nov. 9:

Debit Interest on Bonds $10,800

Credit Cash Account $10800

To record the payment of 6-months interest.

Dec. 31:

Debit Interest on Bonds $3,600

Credit Interest on Bonds Payable $3,600

To record two-months interest accrued.

Explanation:

The journal entries made by Thomson Co. are to record the bond transactions.  For example, when the bonds were issued, cash was received.  This transaction gives rise to a debit to the Cash Account that received the value and a credit to the Bonds Payable Account that gave the value.  The bonds payable account represents the liability that is contracted by the bonds issue.  Recording these transactions in the journal show their effects on the accounting equation that requires assets to be equal to liabilities and owner's' equity following each transaction.

5 0
3 years ago
Flamingos, Inc. has four departments. The Administrative Department costs are allocated to the other three departments based on
MA_775_DIABLO [31]

Answer:

Allocated costs= $9,900

Explanation:

Giving the following information:

The Administrative Department costs are allocated to the other three departments based on the number of employees in each.

Costs:

Administration= $30,000

No. of employees:

Maintanance= 2

Assembly= 6

Packaging= 4

First, we need to calculate the proportion of employees in each department:

total employees= 12

Maintanance= 2/12= 0.17

Assembly= 6/12= 0.5

Packaging= 4/12= 0.33

Now, we can allocate the administrative costs to Packaging:

Allocated costs= 0.33*30,000= $9,900

6 0
3 years ago
Which loan type requires you to make loan payments while you’re attending school?
brilliants [131]
It is called a credit card or a subsidized federal loan
6 0
3 years ago
The​ ________ approach recognizes that both financial and operational performance measures should be considered when evaluatin
Reil [10]

Answer:

The correct answer is balanced scorecard.

Explanation:

The concept of balanced scorecard came from the idea of looking at the strategic measures in addition to financial performance of an organization in order to have an holistic view of the organization's performance. It is also a strategic tool used in setting key performance indicators (KPIs) for organizations.

The balanced scorecard is used to:

  • set an organization goals, strategic intent and objectives
  • tailor the daily work performance towards strategic targets of the organization
  • design and delivery of projects, goods and services
  • then, set performance measurement
5 0
3 years ago
Mo Meek, Lu Ling, and Barb Beck formed the MLB Partnership by making capital contributions of $75,600, $294,000, and $470,400, r
MA_775_DIABLO [31]

Answer:

salary allowances of $83,600 to Mo, $62,700 to Lu, and $94,500 to Barb; interest allowances of 10% on their initial capital investments; and the balance shared as follows: 20% to Mo, 40% to Lu, and 40% to Barb.

net income $498,000, total distributions:

  • Mo = $83,600 + (20% x $257,200) = $135,040
  • Lu = $62,700 + (40% x $257,200) = $165,580
  • Barb = $94,500 + (40% x $257,200) = $197,380

First we need to close Income Summary account to each partner's capital account:

December 31, 202x

Dr income summary 498,000

    Cr Mo Meek, capital 135,040

    Cr Lu Ling, capital 165,580

    Cr Barb Beck, capital 197,380

then we close the drawings accounts to the capital accounts of each partner:

December 31, 202x

Dr Mo Meek, capital 39,300

    Cr Mo Meek, drawings 39,300

Dr Lu Ling, capital 53,300

    Cr Lu Ling, drawings 53,300

Dr Barb Beck, capital 69,300

    Cr Barb Beck, drawings 69,300

3 0
3 years ago
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