Answer: Ethical Obligations and Decision-Making in Accounting-The Heading is devoted to helping students cultivate the ethical commitment needed to ensure that their work meets the highest standards of integrity, independence, and objectivity.
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Explanation: The first, addressed in Part I, is the administrative cost of deregulation, which has grown substantially under the Telecommunications Act of 1996.Part II addresses the consequences of the FCC's use of a competitor-welfare standard when formulating its policies for local competition, rather than a consumer-welfare standard. I evaluate the reported features of the FCC's decision in its Triennial Review. Press releases and statements concerning that decision suggest that the FCC may have finally embraced a consumer-welfare approach to mandatory unbundling at TELRIC prices. The haphazard administrative process surrounding the FCC's decision, however, increases the likelihood of reversal on appeal.Beginning in Part III, I address at greater length the WorldCom fraud and bankruptcy. I offer an early assessment of the harm to the telecommunications industry from WorldCom's fraud and bankruptcy. I explain how WorldCom's misconduct caused collateral damage to other telecommunications firms, government, workers, and the capital markets. WorldCom's false Internet traffic reports and accounting fraud encouraged overinvestment in long-distance capacity and Internet backbone capacity. Because Internet traffic data are proprietary and WorldCom dominated Internet backbone services, and because WorldCom was subject to regulatory oversight, it was reasonable for rival carriers to believe WorldCom's misrepresentation of Internet traffic growth. Event study analysis suggests that the harm to rival carriers and telecommunications equipment manufacturers from WorldCom's restatement of earnings was $7.8 billion. WorldCom's false or fraudulent statements also supplied state and federal governments with incorrect information essential to the formulation of telecommunication policy. State and federal governments, courts, and regulatory commissions would thus be justified in applying extreme skepticism to future representations made by WorldCom.Part IV explains how WorldCom's fraud and bankruptcy may have been intended to harm competition, and in the future may do so, by inducing exit (or forfeiture of market share) by the company's rivals. WorldCom repeatedly deceived investors, competitors, and regulators with false statements about its Internet traffic projections and financial performance. At a minimum, WorldCom's fraudulent or false
Answer: Virtual organization
Explanation:
Virtual organization is referred to as or known as a permanent or temporary collection of the geographically dissipate individuals, organizational units, groups, or maybe the entire organization that tends to depend upon the electronic linking so as to complete production of the process. Virtual organizations do not tends to represent an organization's attribute but on the other hand is taken in consideration as a completely different organizational form.
Answer:
a. Borrow using short-term notes payable and use the cash to increase inventories.
Explanation:
The formula to compute the current ratio is shown below:
Current ratio = Total Current assets ÷ total current liabilities
where,
The current assets = Cash and cash equivalents + Short-term investments + Accounts and notes receivable + Inventories + Prepaid expenses and other current assets
And, current liabilities would be
= Short-term obligations + Accounts payable
If the current ratio is 0.5 which means that the current asset is 1 and the current liabilities are 2 so the most appropriate option is a.
Answer:
Debit Rental expense $18,240 Credit Prepaid Rent expense $18,240
Debit depreciation$840 Credit Accumulated depreciation on Building $840
Debit depreciation $720 Credit Accumulated depreciation on fixtures and equipment $720
Debit Interest expense $1,800 Credit Accrued interest payable $1,800
Debit Unearned admission Revenue $600 Credit Revenue $600
Debit Accounts Receivable $2,700 Credit Concession Revenue $2,700
Debit Salaries expense $2,040, Credit Salaries Payable $2,040
Debit Income tax Expense $5,040 Credit Current Tax Payable $5,040
Debit Utility expense $12,600 Credit Utility bills $12,600
Explanation:
Depreciation : Building = 201,600/240 = $840
