The failure to speak out when an ethical or legal lapse occurs within your firm is in itself an ethical violation
Indicate whether the statement is true or false
TRUE
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A partner who wrongfully dissociates:
A. loses the right to demand a dissolution. B. can ask the court to appoint a receiver on his behalf. C. can participate in the winding up process. D. must not be paid the value of his interest for the breach, if the firm continues.
The IAASB and the AICPA identify three levels of assurance that can be provided in an attestation engagement
a. True b. False Indicate whether the statement is true or false
Of the following job responsibility bullets on a résumé, which does not begin with an action verb?
A) Created customer databases with complex queries. B) Maintained appointment calendars for seven executives. C) Organized manuscript topics in a logical sequence. D) Responsible for warehouse inventory.
Use this information for questions that refer to the Sporting Products, Inc. (SPI) case.Randy Todd, marketing manager for Sporting Products, Inc. (SPI), is thinking about how changes taking place among retailers in his channel might impact his strategy.SPI sells the products it produces through wholesalers and retailers. For example, SPI sells basketballs to Wholesale Supply for $8.00. Wholesale Supply uses a 20 percent markup, and most of its "sport shop" retailer customers, like Robinson's Sporting Goods, use a 33 percent markup to arrive at the price they charge final consumers. However, one fast-growing retail chain, Sports Depot, uses only a 20 percent markup for basketballs, even though it pays Wholesale Supply the same price as other retailers. Furthermore, Sports Depot
occasionally lowers the price of basketballs and sells them at cost, to draw customers into its stores and stimulate sales of its pricey basketball shoes.Sports Depot is also using other pricing approaches that are different from the sports shops that usually handle SPI products. For example, Sports Depot prices all its baseball gloves at $20, $40, or $60-with no prices in between. There are three big bins, one for each price point.Randy is also curious about how Sports Depot's new strategy to increase sales of tennis balls will work out. The basic idea is to sell tennis balls in large quantities to nonprofit groups, who resell the balls to raise money. For example, a service organization at a local college bought 2,000 tennis balls printed with the college logo. Sports Depot charged $.50 each for the tennis balls, plus a $500 one-time charge for the stamp to print the logo. The service group plans to resell the tennis balls for $2.50 each and contribute the profits to a shelter for the homeless.Randy is not certain if Sports Depot's ideas will affect SPI's plans. For example, SPI is considering adding tennis racquets to the lines it produces. This would require a $500,000 addition to its factory, as well as the purchase of new equipment that costs $1,000,000. The variable cost to produce a tennis racquet would be $20, but Todd thinks that SPI could sell the racquet at a wholesale price of $40 each. That would allow most retailers to add their normal markup and make a profit. However, Sports Depot may sells the racquet at a lower than normal price.What is the service organization's average cost for the printed tennis balls it buys from Sports Depot? A. $2.00 B. $1.50 C. $0.50 D. $0.95 E. $0.75