Four principal types of corruption are discussed. Name all four and explain at least two
Corruption involves an executive, manager, or employee of a business working in collusion with an outsider. The four principal types of corruption are: bribery, illegal gratuities, conflicts of interest, and economic extortion.
Bribery involves giving, offering, soliciting, or receiving things of value to influence an official in the performance of his or her lawful duties.
An illegal gratuity involves giving. receiving, offering, or soliciting something of value because of an official act that has been taken.
A conflict of interest occurs when an employee acts on behalf of a third party during the discharge of his or her duties or has self-interest in the activity being performed.
Economic extortion is the use (or threat) of force (including economic sanctions) by an individual or organization to obtain something of value.
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Upon separation from the organization, ______ interviews are conducted to assess the departing employee’s workplace experience.
a. exit b. performance c. problem-solving d. helping
Sandoval needs to determine its year-end inventory. The warehouse contains 25,000 units, of which 3500 were damaged by flood and are not sellable. Another 2500 units were purchased from Markor Company, FOB shipping point, and are currently in transit. The company also consigns goods and has 4500 units at a consignee's location. How many units should Sandoval include in its year-end inventory?
A. 32,000 B. 28,500 C. 26,000 D. 23,500 E. 35,500
The BEST time to establish reasonable controls is:
A) After a project is over. B) At the end of a project. C) At the start of a project. D) When they are first needed during the project.
Most decisions about the location of a small firm are influenced by the type of business it conducts.
Answer the following statement true (T) or false (F)