The Ultramares v. Touche case established that auditors could be held liable to a known third party for ordinary negligence.
Answer the following statement true (T) or false (F)
True
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As dealt with by the Foreign Corrupt Practices Act, how does a “facilitating payment” differ from a “bribe”?
a. A bribe involves a monetary payment; a facilitating payment does not b. A facilitating payment does not try to compel someone to act against their own job description; a bribe does. c. Facilitating payments are targeted at government entities and employees; bribes are not. d. A facilitating payment incurs lower legal penalties than a bribe.
Athena Company provides employee health insurance that costs $15,100 per month. In addition, the company contributes an amount equal to 4% of the employees' $151,000 gross salary to a retirement program. The entry to record the accrued benefits for the month would include a:
A. Debit to Medical Insurance Payable $15,100. B. Debit to Payroll Taxes Expense $21,140. C. Debit to Employee Retirement Program Payable $6040. D. Debit to Employee Benefits Expense $21,140. E. Credit to Employee Benefits Expense $15,100.
Fact Pattern 20-1 ?Daily Bread Bakeries, Inc, contracts to buy all of its ingredient requirements for bread making, at a certain minimum per year, from Enriched Flour & Grain Corporation for six years. After three years, Daily Bread tells Enriched that it plans to sell its assets to Flat Bread Shops, Inc Flat Bread refuses to assure Enriched that it will continue Daily Bread's contract. Refer
to Fact Pattern 20-1. Flat Bread's refusal is A)?a justified response based on Flat Bread's relation to the contract. B)?an assignment of Daily Bread's rights under the contract. C)?a reasonable suspension of performance under the contract. D)?a repudiation of the contract.
The two metaphors commonly used to describe the two views of the change process are ________.
A. running water and troubled water B. calm waters and white-water rapids C. marine water and freshwater D. muckwater and mudwater