Answer the following statements true (T) or false (F)
1. Opportunities in accounting include auditing, consulting, market research, and tax planning.
2. Identifying the proper ethical path is usually easy.
3. The Sarbanes-Oxley Act (SOX) requires each issuer of securities to disclose whether it has
adopted a code of ethics for its senior financial officers and the contents of that code.
4. The fraud triangle asserts that the three factors that must exist for a person to commit fraud
are opportunity, pressure, and rationalization.
5. The Sarbanes-Oxley Act (SOX) does not require public companies to apply both accounting
oversight and stringent internal controls.
1. TRUE
2. FALSE
3. TRUE
4. TRUE
5. FALSE
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List and explain one guideline suggested in your text for resolving conflict.
What will be an ideal response?
Which of the following is a method used in organizations to kill creativity?
A) Postponing action B) Establishing clear and reliable cost estimates C) Enlisting troublemakers D) None of the above
Quality Products produces and sells screen-printed t-shirts to local organizations. The normal sales price per shirt is $12. Due to setup costs, they only accept orders of at least 100 shirts. The setup cost per order is $40 and the variable costs per
shirt are $3. Fixed overhead costs per month total $2,000. Quality Products has the capacity to screen-print as many as 5,000 shirts per month, but is currently producing around 3,000. On May 1, the company was approached by a local non-profit group who wishes to place a single order for 100 shirts. The non-profit group has indicated that they can only pay $5 per shirt. Required: A. List two qualitative factors that should be considered by Quality Products before accepting the special order. B. What are the total relevant costs of accepting the special order? C. From a quantitative basis, should they accept the special order? By what amount will Quality Product's net income increase or decrease if they accept the special order?
By placing bad news in the first paragraph, receiver support is more likely than when it is presented after giving reasons
Indicate whether the statement is true or false