Bernard (Bernie) Madoff used money from newer investors to pay off older investors. Which type of scam was Madoff running?
A. illegal lobbying
B. insider trading
C. salami slicing
D. Ponzi scheme
E. whistle-blowing
D. Ponzi scheme
Financier Bernard (Bernie) Madoff, who confessed to running a $50 billion Ponzi scheme, used cash from newer investors to pay off older ones, the definition of this type of scheme.
You might also like to view...
When fixed costs are $18,000 and the contribution margin per unit is $4, the breakeven point is
a. 4,500 units. b. 2,230 units. c. $22,300. d. $72,000.
The financial perspective of the balanced scorecard focuses on using an organization's intellectual capital to adapt to or influence customer needs and expectations
Indicate whether the statement is true or false
One of the important factors when selecting appropriate cost drivers is the ability to overcost related services.
Answer the following statement true (T) or false (F)
A new business is built around the entrepreneur.
Answer the following statement true (T) or false (F)