Tyco’s former board member Frank Walsh pled guilty to charges that he had devised a scheme _____________ in the CIT Group acquisition.
a. to hide the fees he received
b. to increase the cost
c. conceal profits by TYCO
d. to hide executive salaries
a. to hide the fees he received
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Internet auctions are the number one source of consumer complaints about online fraud.
Answer the following statement true (T) or false (F)
The technique of fast tracking can result in lengthening the project schedule
a. True b. False Indicate whether the statement is true or false
Fragmental Co. leased a portion of its store to another company for eight months beginning on October 1, at a monthly rate of $800. Fragmental collected the entire $6,400 cash on October 1 and recorded it as unearned revenue. Assuming adjusting entries are only made at year-end, the adjusting entry made by Fragmental Co. on December 31 would be:
A. A debit to Unearned Rent and a credit to Rent Revenue for $4,000. B. A debit to Cash and a credit to Rent Revenue for $6,400. C. A debit to Rent Revenue and a credit to Cash for $2,400. D. A debit to Unearned Rent and a credit to Rent Revenue for $2,400. E. A debit to Rent Revenue and a credit to Unearned Rent for $2,400.
A number of standard-setting organizations offer memberships to business firms. You are working for Grace Henry, chief information officer (CIO) of Flex-Electric, a midsize company that manufactures components for electronic medical and laboratory
instruments. Flex-Electric uses EDI to process transactions with both its vendors (purchases) and customers (sales). The company is also exploring ways in which it might use RFID tags to track its inventories. Grace asks you to learn more about the international supply chain standard setting organization, GS1. Prepare a memo to Grace of about 300 words in which you outline the purposes of the organization and identify how it might be useful to Flex-Electric. In your memo, identify at least one other standard-setting organization that might be useful to Flex-Electric’s RFID tag initiative.