The policy on travel reimbursement at Public Service Company is that receipts for meals under $25.00 are not required. Internal auditors at Public Service have recently discovered that 80 percent of all meal submissions are in a range from $12.50 to $12.99. When one manager is questioned about his submissions and those of his employees he responds, "So, they make a little bit on meals - it helps
their miserable salaries." The manager's evaluation:
A) demonstrates an ethical commitment to his employees.
B) is ethical since no one is really harmed.
C) demonstrates a lapse in the company's ethical culture.
D) is an example of Christian consequentialism.
C
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At the end of 2016, Clock Products, Inc determined that one of its patents was worthless. The patent had a cost of $300,000 . The patent had been amortized for 5 years of its estimated 15-year legal life. Which of the following statements is correct?
a. Clock Products must continue to amortize the patent over its remaining 10 years of life. b. The patent must be reduced to 5/15, or 33.3% of its original cost and amortized over the remaining 10 years. c. The remaining unamortized cost must be removed from the accounting records and treated as a loss on the income statement. d. Clock Products must correct its financial statements for the past five years, so that the entire cost is allocated to that five-year period.
Depreciation Expense-Buildings is a temporary account
Indicate whether the statement is true or false
While preparing the marketing plan for a new product line called Nature & Nurture, Jonas wrote the following: "The target Nature & Nurture customer is female, married, between the ages of 30 and 45, and has one or two children under the age o
She has completed college and some graduate work, and has a combined household income over $70,000 per year." This statement belongs in the ________ section of the marketing plan. A) company description, purpose, and goals B) marketing situation C) executive summary D) measurement and controls E) forecasting
An investor who requires a 12% percent return for a stock that pays no dividends and requires a 9%
return for a stock that pays its entire return from dividends is most likely a proponent of A) the information effect. B) the clientele effect. C) the bird-in-the-hand dividend theory. D) the residual dividend theory.