On December 2, 2001, Enron Corporation declared bankruptcy as a result of long-standing and methodical ___________that substantially overstated the financial position and earnings of the business.
a. regulatory fraud
b. accounting fraud
c. money laundering
d. fiscal neglect
b. accounting fraud
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A salesperson can change caution signals into agreement signals by speeding up her planned presentation.
Answer the following statement true (T) or false (F)
Jason, an employee of Fitzgerald, Inc., has gross salary for March of $4,000. The entire amount is under the OASDI limit of $118,500, and thus subject to FICA. His year-to-date pay has already exceeded the $7,000 cap for FUTA and SUTA. Which of the following is a part of the journal entry to record the employer's payroll taxes?
A) credit to Payroll Tax Expense B) debit to FICA Taxes Payable C) credit to FICA-Medicare Taxes Payable D) debit to Cash
On June 18, Burger Corporation entered into a firm commitment to purchase specialized equipment from the Hyabuza Trading Company for ¥80,000,000 on August 20 . The exchange rate on June 1 . is ¥100 = $1 . To reduce the exchange rate risk that could increase the cost of the equipment in U.S. dollars, Burger pays $12,000 for a call option contract. This contract gives Burger the option to
purchase ¥80,000,000 at an exchange rate of ¥100 = $1 on August 20 . On August 20, the exchange rate is ¥93 = $1 . How much did Burger save by purchasing the call option (answers rounded to the nearest dollar)? a. $12,000 b. $48,215 c. $60,215 d. Burger would have been better off not to have purchased the call option.
Sam Utley drives to a local convenience store to purchase milk. The store that sells milk to Utley most likely engages in ________ selling.
A. benefit B. transaction C. transformational D. relationship E. partnership