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Category: Accounting
On January 1, 20Y5, Dr. Marcie Cousins established Health-Wise Medical, a medical practice organized as a corporation. The following conversation occurred the following August between Dr. Cousins and a former medical school classmate, Dr. Avi Abu, at an American Medical Association convention in Seattle: Dr. Abu: Marcie, good to see you again. Why ...
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Category: Accounting
There are two common causes of business and accounting fraud: ▪ a failure of individual character, and ▪ a culture of greed or ethical indifference within an organization. Write a brief memo describing how these two factors could lead to accounting fraud.
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Category: Accounting
In teams, select a public company that interests you. Obtain the company's most recent annual report on Form 10-K. The Form 10-K is a company's annually required filing with the Securities and Exchange Commission (SEC). It includes the company's financial statements and accompanying notes. The Form 10-K can be obtained either (a) from the investor ...
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Category: Accounting
Colleen Fernandez, president of Rhino Enterprises, applied for a $175,000 loan from First Federal Bank. The bank requested financial statements from Rhino Enterprises as a basis for granting the loan. Colleen has told her accountant to provide the bank with a balance sheet. Colleen has decided to omit the other financial statements because there wa...
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Category: Accounting
Marco Brolo is one of three partners who own and operate Silkroad Partners, a global import-export business. Marco is the partner in charge of recording partnership transactions in the accounts. On his way to work one day, Marco's car broke down. At the repair shop, Marco learned that his car's engine had significant damage, and it will cost over $...
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