(240)-343-2585

1. Charles Ponzi was a working-class Italian immigrant who was Need more help! 1. Charles Ponzi was a working-class Italian immigrant who was eager to find success in America. Bernard Madoff was already a multimillionaire before he started his scheme. Does that make one more unethical than the other? Why or why not? 2. Explain how a Ponzi scheme works. 3. Does the SEC bear any responsibility in the extent of the Madoff scheme? In what way? 4. Does the fact that Madoff offered less outrageous returns (10–18 percent per year) on investments compared to Ponzi’s promise of a 50 percent return in only 90 days make Madoff any less unethical? Why or why not? 5. Can the investors who put their money in Madoff’s funds without any due diligence, often on the basis of a tip from a friend or a “friend of a friend,” really be considered victims in this case? Why or why not? 6. What should investors with Bernard Madoff have done differently here? The practice of providing old (or early) investors above-average returns on their investment with funds raised from new (or late) investors in the absence of any real business operation to generate profits is illegal, unethical, and, regrettably, not a new idea. It used to be referred to as “robbing Peter to pay Paul.” In 1899, a New York scam artist named William Miller promised investors returns as high as 520 percent in one year based on his supposed insider information on profitable businesses. He scammed people out of almost $25 million in today’s money before being exposed and jailed for 10 years. Students also viewed these Organizational Behavior questions Bernard Madoff was convicted in 2009 of running a Ponzi scheme, the Bernard Madoff was convicted in 2009 of running a Ponzi scheme, the biggest in U.S. history. A…… … the current (at the time you write your report) state of the legal action against him. (b) Friehling was subject to U.S. auditing standards and legislation. Explain if, and how, Friehling’s… Why was Charles Ponzi so successful with his fraud scheme? Why was Charles Ponzi so successful with his fraud scheme? What should be done to help ensure that Ponzi schemes like this What should be done to help ensure that Ponzi schemes like this one do not happen in the…… … that his fabricated investment reports were mailed to his clients. Most Ponzi schemes self-destruct fairly quickly as the ability to keep attracting new investors dwindles. Bernard Madoff’s case was… The SEC due diligence team is searching for the reason behind Hatfield’s The SEC due diligence team is searching for the reason behind Hatfield’s inventory build-up…… … not necessarily searching for evidence of fraud but of possible manipulation of accounting standards for the purpose of misleading shareholders and other interested parties.Initial review of… How is due diligence different from due care? Why are both important? How is due diligence different from due care? Why are both important? Venus is opening a tennis school. She plans to hire a marketing Venus is opening a tennis school. She plans to hire a marketing graduate to promote and manage the school at $20 an hour. Venus is also considering buying or leasing a new tennis ball machine. The purchase price of the machine is $1,000 and after three years it is worthless. The annual cost of leasing the machine is $500.a. In which factor markets does Venus operate?b. What is the price of the capital equipment and the rental rate of capital? Why are duplicate tuples not allowed in a relation? Why are duplicate tuples not allowed in a relation? The beginning inventory for Francesca Co and data on purchases and sales The beginning inventory for Francesca Co and data on purchases and sales for a three-month period…… … a perpetual inventory record similar to the one illustrated in Exhibit 4, using the last-in, first-out method.2. Determine the total sales, the total cost of merchandise sold, and the gross… Should vaccination be mandatory for everyone and why? Should vaccination be mandatory for everyone and why? Fallow Corporation is subject to tax only in State X. Fallow generated Fallow Corporation is subject to tax only in State X. Fallow generated the following income and deductions. State income taxes are not deductible for X income tax purposes. Sales ………………………………………………………………………….…….$4,000,000 Cost of sales …………………………………………………………………….. 2,800,000 State X income tax expense …………………………………………………200,000 Depreciation allowed for Federal tax purposes …………………..400,000 Depreciation allowed for state tax purposes …………………….. 250,000 Interest income on Federal obligations ………………………….….. 40,000 Interest income on X obligations ……………………………….…….. 30,000 Expenses related to carrying X obligations …………………..…….. 2,000 a. The starting point in computing the X income tax base is Federal taxable income. Derive this amount. b. Determine Fallow’s X taxable income assuming that interest on X obligations is exempt from X income tax. c. Determine Fallow’s X taxable income assuming that interest on X obligations is subject to X income tax. Divide into groups of three or four. Distribute the 11 sections of Divide into groups of three or four. Distribute the 11 sections of SOX reviewed in this chapter. Each group must prepare a brief presentation outlining the relative importance of its section to the overall impact of SOX and the prohibition of unethical business practices. 1. Does RamalingaRaju’s assertion that this fraud only “started as a marginal 1. Does RamalingaRaju’s assertion that this fraud only “started as a marginal gap” change the ethical question here? Would the situation be different if there was evidence that there had been a deliberate intent to deceive investors from the beginning?2. Why do you think Satyam’s board of… Banco Nacional de Costa Rica is a bank wholly owned by the Banco Nacional de Costa Rica is a bank wholly owned by the government of Costa Rica. It is subject…… … plaintiffs from recovering on their loans to the bank. Who wins? Libra Bank Limited v. Banco Nacional de Costa Rica, 570 F. Supp. 870, 1983 U. S. Dist. Lexis 14677 (United States District… A ticket from Indianapolis to Orlando on Deleast Airlines sells for $150. A ticket from Indianapolis to Orlando on Deleast Airlines sells for $150. The plane can hold 100…… … flight is overbooked, anyone who cannot get a seat receives $300 in compensation. On average, 95% of all people who have a reservation show up for the flight. To maximize expected profit, how… Morro Bay Surfboards is a California company that manufactures fibreglass surf boards. Morro Bay Surfboards is a California company that manufactures fibreglass surf boards. The…… … inventories. REQUIRED 1. Compute direct manufacturing labour variances for July. 2. Compute the actual pounds of direct materials used in production in July. 3. Calculate the actual price per pound… At the end of 2012, Hatch Industries had the following balance sheet: At the end of 2012, Hatch Industries had the following balance sheet: Hatch Industries would like to compute its EVA® for the year. Help the accountant at Hatch Industries prepare for that computation by determining invested assets from the balance sheetabove. The Gannon Company has budgeted sales revenues as follows:Â Past experience indicates The Gannon Company has budgeted sales revenues as follows:Â Past experience indicates that 60% of…… … excess cash balance. The beginning cash balance on July 1 was $10,000 of which none is borrowed.Instructions:ÂPrepare a cash budget for the months of July and August. Prepare separate… Maquina Company produces custom-made machine parts. Maquina recently has implemented an…… … Maquina Company produces custom-made machine parts. Maquina recently has implemented an…… … Explain why inspecting incoming goods should be viewed as a non-value-added activity. In providing your explanation, consider the following counterargument: “Inspecting incoming goods adds value… Related Book For Sale Business Ethics Now 3rd edition (Purchase / Rent)