The Foreign Corrupt Practices Act is directed at
a. U.S. corporations operating overseas.
b. foreign businesses operating in the U.S.
c. all businesses dealing with U.S. consumers.
d. all U. S. businesses with operations in foreign countries.
A
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If a professor charges extra fees to take a regularly scheduled class, it would not qualify as consideration because such an act:
A. would violate the preexisting duty rule. B. is prohibited by promissory estoppel. C. is a tort. D. is new consideration that is provided to support a modification.
Disclosures You are a staff auditor on the audit of Cosmo Technologies, Inc The audit partner asks you to carefully read the new mortgage contract with the Hometown Bank and abstract all pertinent information that might be needed for a financial
disclosure. Required: (1) List the information in a mortgage that is likely to be relevant to the auditor. (2) What are the pros and cons of using a disclosure checklist for this task?
A firm factors $40,000 of accounts receivable without recourse. The factor agrees to provide financing based on these receivables, but imposes a 10% fee. In addition, the transferor and transferee agree that $3,000 of sales returns and allowances can be expected from these accounts. What is the loss or expense to recorded by the transferor?
a. $7,000 b. $4,000 c. $3,000 d. $0
Promotion-from-within policies must ________, coupled with a company philosophy that permits employees to consider available opportunities within the organization.
A. comply with all state laws B. receive strong top management support C. anticipate training needs D. respect seniority position