ACC 543 WK 6 - Apply Foreign Corrupt Practices Act
ACC 543 WK 6 - Apply Foreign Corrupt Practices Act
ACC 543 WK 6 - Apply Foreign Corrupt Practices Act
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The average number of common stock shares outstanding during
Year 3 was 860 shares. Net income for the year was $15,400.
Required
Compute each of the following: (Round your answer to 2 decimal
places. For percentages, 0.2345 should be entered as 23.45.)
Write a 250-word response reflecting on your experience making the calculations from
the practice assignment. In your reflection, share your thoughts on the activities within
this week’s readings. Consider how calculating financial statements will help drive
effective business decisions.
If you did not have any challenges, respond to the following questions:
What prepared you for these calculations?
What advice would you give a classmate who needs assistance?
Required
a. Compute the net present value of each project. Which project should
be adopted based on the net present value approach?
b. Compute the approximate internal rate of return of each project.
Which one should be adopted based on the internal rate of return
approach?
Read the scenario in the textbook and complete the activity below.
Create a PowerPoint® presentation showing the comparison of the net present value
approach with the internal rate of return approach calculated above. Complete the
following in your presentation:
Analyze the results of the net present value calculations and the significance of
these results, supported with examples.
Determine which project should be adopted based on the net present value
approach and provide rationale for your decision.
Analyze the results of the internal rate of return calculation and the significance of
these results, supported with examples.
Determine which project should be adopted based on the internal rate of return
approach and provide rationale for your decision.
Determine the preferred method in the given circumstances and provide
reasoning and details to support the method selected.
Synthesize results of analyses and computations to determine the best
investment opportunity to recommend to the president of Donovan Enterprises.
Required
a. Determine the cost per equivalent.
b. Determine the cost of the goods transferred out of the finishing
department.
c. Determine the cost of the finishing department’s ending work in
process inventory.
Read the scenario in the textbook and complete the activity below.
Compute the equivalent cost per unit, assuming the ending inventory is considered to
be 40 percent complete.
Compute the equivalent cost per unit, assuming the ending inventory is considered to
be 60 percent complete.
Actual results for the luncheon follow.
ADAMS MANAGEMENT ASSOCIATION
Actual Results for Public Relations
Luncheon
April Year 2
Operating funds allocated $ 21,842
Expenses
Variable costs
Meals (1,630 × $12.60) 20,538
Postage (4,050 × 0.46) 1,863
Fixed costs
Facility 1,600
Printing 960
Decorations 850
Speaker's gift 140
Publicity 610
Total expenses 26,561
Budget deficit $ (4,719)
Reasons for the differences between the budgeted and actual data
follow.
1. The president of the organization, Rodney Snow, increased the
invitation list to include 1,000 former members. As a result,
4,050 invitations were mailed.
2. Attendance was 1,630 individuals. Because of higher-than-
expected attendance, the luncheon was moved to a larger
room, thereby increasing the facility charge to$1,600
3. At the last minute, Ms. Hubbard decided to add a dessert to the
menu, which increased the meal cost to $12.6 per person.
4. Printing, decorations, the speaker’s gift, and publicity costs
were as budgeted.
Required:
a. Prepare a flexible budget and compute the sales and variable cost
volume variances based on a comparison between the master
budget and the flexible budget.
b. Compute flexible budget variances by comparing the flexible
budget with the actual results.
Read the scenario in the textbook and complete the activity below.
Create a 6- to 8-slide presentation for the budget committee meeting. Complete the
following in your presentation:
Summarize the results of the sales volume and variable cost volume variances
computations based on the comparison between the master budget and the flexible
budget.
Summarize the results of the flexible budget variances computations based on
the comparison between the flexible budget and the actual results.
Justify the favorable or unfavorable budget variances.
Since this is a not-for-profit organization, address why anyone should be
concerned with meeting the budget.
Make recommendations for what can be done differently to stay on budget for
future luncheons. Provide specific examples to support your recommendations.
Ethical relativism is a theory of ethics that denies the existence of _______ moral standards.
Multiple Choice
• objective
• subjective
• relevant
• individual
Acme Foods Inc. manufactures food products and is opening a subsidiary in United Cadvia. The
firm discovers that to obtain raw materials it has to make some facilitating payments to the local
officials and businesses in the host country. The second option is to import raw materials from its
own country, which will be expensive in the long run. The managers at Acme are unable to decide
which of the two options would be a better choice. Which of the following terms would best
describe the situation Acme Foods Inc. is experiencing?
Multiple Choice
• Ethical dilemma
• Causal ambiguity
• Moral lapse
• Culture shock
The human resource policy of a company states that the company aims to treat all humans
identically, regardless of race, class, gender, age, and sexual preference. Which of the following
values influencing business ethics does this best illustrate?
Multiple Choice
• Freedom
• Security
• Justice
• Efficiency
If a business asks “would the world be a better place if everyone followed my example,” that
company is following the _______.
Multiple Choice
• universalization test
• global inquiry test
• public disclosure test
• business ethics test
The _______ of business consists of expectations that the community imposes on firms doing
business inside its borders.
Multiple Choice
• social responsibility
• legal positivism
• ethics
• economics
A problem about what a firm should do for which no clear, right decision is available is called a(n)
_______.
Multiple Choice
• ethical guideline
• vaues
• ethical dilemma
• social complexity
The value of “security” includes all of the following alternative meanings except
Multiple Choice
•
access to a large enough supply of goods and services to meet your basic needs.
•
safety from those wishing to interfere with your property rights.
•
self-confidence to such an extent that risks are welcome.
• a citizen’s willingness to compromise basic constitutional freedoms in return for
government-provided security.
Under deontology, _______ states that an action is moral only if it would be consistent for
everyone in society to act in the same way.
Multiple Choice
• the golden rule
• the categorical imperative
• the cost-benefit analysis
• the principle of rights
When employees in a firm asked for a pay hike, the management assessed the expenses involved
in it. It realized that the shareholders and customers would have to face more negative
consequences when compared to the benefits enjoyed by the employees. Thus, the management
decided to introduce employee stock options in order to keep both the employees and the
shareholders satisfied. Which of the following theories of business ethics does this best illustrate?
Multiple Choice
• Rule utilitarianism
• Ethical relativism
• Deontology
• Ethical fundamentalism
The value of justice includes all but which of the following alternative meanings?
Multiple Choice
•
Receiving the products of your labor.
•
Treating all humans identically, regardless of race, class, gender, age, and sexual preference.
• Escaping the cares and demands of this world entirely.
•
Providing resources in proportion to need.
Like ethical relativism, _______ requires that we evaluate the morality of an action by imagining
ourselves in the position of the person facing the ethical dilemma.
rev: 09_06_2019_QC_CS-177773
Multiple Choice
• the golden rule
• universalization
• consequentialism
• situational ethics
Which of the following considerations is not included in the “WH Framework” for business
ethics?
Multiple Choice
• Managerial decisions will affect particular groups of stakeholders in the operation of the firm
• Managerial decisions are made in pursuit of a particular purpose
• Managerial decisions are made in an attempt to circumvent the law
• Managerial decisions must meet the standards of action-oriented business behavior
All but which of the following people are affected by a firm’s business decisions?
Multiple Choice
• Consumers
• Mediators
• Community
• Future generations
______ requires individuals to follow a rigid set of rules regardless of the situation.
Multiple Choice
• Ethical relativism
• Absolutism
• Moralism
• Consequentialism
Values are _______ that capture one’s sense of what is good or desirable.
Multiple Choice
• positive abstractions
• legal ethics
• ethical abstractions
• realistic ideas
Business leaders must be sensitive to the differences in legal guidelines in different countries for
all but which of the following reasons?
Multiple Choice
• The United States has different laws for different countries regarding business dealings.
• Different ethical understandings prevail in different countries.
• Ethical conceptions shape business law and business relationships uniquely in each country.
• Ethical differences are based on somewhat different understandings of ethical behavior
among businesspeople in different countries.
The use of ethics and ethical principles to solve business dilemmas is called an ethical
Multiple Choice
•
syllogism.
•
delineation.
•
synergism.
•
dilemma.
The value of _______ includes the following alternative meanings: the ability to act without
restriction from rules imposed by others; the right to possess the capacity or resources to act as
one wishes; and the choice to escape the cares and demands of this world entirely
Multiple Choice
•
security
•
freedom
•
justice
•
efficiency
Read the scenario in the textbook and complete the following activity.
Create a WH Framework chart, similar to Exhibit 2.1. Refer to L'Oreal’s core values and
the primary values in Exhibit 2.3 to determine the guidelines to include in the WH
Framework.
Write an explanation of how you decided on the list of stakeholders and guidelines to
include in your WH Framework. Address the following questions in your explanation:
Which stakeholders did Traszka and the management of L’Oreal cater to? Why?
What values did L’Oreal’s management choose when they made the decision to
fire Trzaska? Why?
Self-Reflection
In addition to your explanation, address the following self-reflection questions:
How did the WH Framework help you analyze the situation?
Now that you’ve put together the framework, how does the WH Framework help
managers with making business decisions?
What type of decisions would the WH Framework chart help you make as a
manager?
_________is a multilateral free trade agreement between the U.S., Mexico, and Canada.
Multiple Choice
• NAFTA
• NATO
• WHO
• CAFTA
Systems that are considered adversarial in nature because opposing parties present their arguments
before a neutral fact finder, who determines which side met its burden of proof, are known as
_______ systems.
Multiple Choice
• civil law
• common law
• socialist
• public law
Which country is not a party to the Central American Free Trade Agreement?
Multiple Choice
• Costa Rica
• United States
• Honduras
• Canada
The commercial sale of goods is best defined by which of the following descriptions.
Multiple Choice
• Foreign free trade between member states in which value exchanged between merchants of
the member states.
• The international sale of goods between countries in return for consideration.
• The exchange of tangible personal property between merchants in return for consideration.
• The exchange of personal property between businesses in different countries in return for
consideration.
The arrangement between the United States, Canada, and Mexico to reduce and gradually
eliminate tariffs and other trade barriers is an example of a(n) _____.
Multiple Choice
• multilateral free trade agreement.
• nonactionable subsidy.
• nontariff barrier.
• pan-American union.
A multimillion dollar U.S. project to construct a suspension bridge is in progress. Landmark, Co.
in Sweden shares both profits and responsibilities for the project with Liberty Bridges, Inc., a firm
based in the United States. This scenario is an example of a
Multiple Choice
• franchise agreement.
• horizontal acquisition.
• licensing agreement.
• joint venture.
The Southern Countries Group is comprised of ten countries. Together, these countries have
decided to charge a common external tariff on all aluminum that comes from countries that are not
a part of the Southern Countries Group. The Southern Countries Group is an example of a _____.
Multiple Choice
• customs union
• multilateral restrictive trade organization
• regional tariff organization
• multilateral subsidy union
Member states that have ratified the _____ have agreed to recognize arbitration awards as
enforceable in its national courts.
Multiple Choice
• New York Convention
• Conventional on the International Sale of Goods
• International Arbitration Convention
• International Dispute Protocol
Due to certain political conflicts, the country Miapeke decided to place a ban on all steel imports
from the country Lebatar. Miapeke has instituted a(n) _____ on Lebatar’s steel imports.
Multiple Choice
• embargo
• compound tariff
• tariff
• unquantitative restriction
U.S. company Candlon, Inc. is seeking to establish its business in a foreign country. The foreign
country’s current government is not inclined to let Candlon open a factory there. A candidate for
prime minister of the country, however, is friendly toward U.S. businesses and is likely to allow
Candlon to establish its business there. Candlon makes a large contribution to this candidate’s
campaign. Candlon has likely violated which of the following laws?
Multiple Choice
• The Foreign Corrupt Practices Act (FCPA)
• The New York Convention (NYC)
• The Convention on the International Sale of Goods (CISG)
• The General Agreement on Tariffs and Trade (GATT)
_________ law governs the conduct of states and international organizations and their
relationships with one another and natural and juridical persons, while __________ law is the
study of legal systems of different nation states
Multiple Choice
• Uniform; jurisdictional
• Jurisdictional; uniform
• Comparative; international
• International; comparative
__________ is the practice wherein an exporter sells products in a foreign state for less than the
price charged for the same or comparable goods in the exporter’s home market.
Multiple Choice
• Free trade
• Geo-capitalism
• Fair trade
• Dumping
If a United States company has a dispute with a company from Norway and conciliation does not
resolve the dispute, the two businesses may pursue an adversarial option to resolve the dispute.
Which of the following methods may the companies choose?
Multiple Choice
• Mediation
• Monitored settlement agreements
• Arbitration.
• Mandatory conciliation
A Canadian company has a business arrangement with a U.S. toy company, Imagination. The
arrangement permits the Canadian company to sell Imagination's products directly to consumers
under the same brand name in Canada. At the end of the first year, the Canadian company pays
Imagination 20 percent of its net sales. Which of the following methods of entering a foreign
market has been best illustrated in this scenario?
Multiple Choice
• Franchise agreement.
• Joint venture.
• Exporting.
• Turnkey contract.
In an interview published by The New York Times in February 1976, former Lockheed
President A. Carl Kotchian defended the payment of bribes by the company as follows:
“Some call it gratuities. Some call them questionable payments. Some call it extortion.
Some call it grease. Some call it bribery. I look at these payments as necessary to sell a
product. I never felt I was doing anything wrong.”
More than 30 years later, Reinhard Siekaczek, an accountant employed by Siemens who
oversaw an annual budget for questionable payments in excess of $50 million, stated:
“I never thought I would go to jail for my company. …We thought we had to do it.
Otherwise, we would ruin the company. …People will only say about Siemens that they
were unlucky and that they broke the Eleventh Commandment. The Eleventh
Commandment is, ‘Don’t get caught.’”
You have been hired to assist ABC Multinational Company to help educate employees
on ethical practices and corporate culture. More specifically, related to the Foreign
Corrupt Practices Act, your role is to prevent situations described in the above scenario.
Create either a handout, job-aid, poster, or flier to educate employees on the Foreign
Corrupt Practice Act. Complete the following for your educational tool:
Explain what the employees should know regarding the Foreign Corrupt
Practices Act.
Provide examples of Foreign Corrupt Practices Act violations.
Identify company actions or red flags that might indicate violations of the Act.
List any consequences of the violations.
Recommend actions to report possible violations.
Describe protections for whistleblowers. Why are they important? How do the
protections impact the Act?
Submit your assignment.