This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Ima Broke is the sole owner of Miracles, Inc Ima needs another loan from a bank to expand her ... (Read 45 times)

Mr. Wonderful

  • Hero Member
  • *****
  • Posts: 866
on: Jul 5, 2018
Ima Broke is the sole owner of Miracles, Inc Ima needs another loan from a bank to expand her business.
 
  In order to improve the chances of receiving a loan, she decides to report the principal of one of Miracles, Inc's loans as contributed capital instead of a liability on the balance sheet. Discuss the ethical issue with Ima's treatment of the loan.
  What will be an ideal response?

Question 2

The control concern that there will be a high risk of data conversion errors relates primarily to which of the following information systems functions?
 a. data control
  b. data entry
  c. data librarian
  d. database administration


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

dawsa925

  • Sr. Member
  • ****
  • Posts: 326
Reply #1 on: Jul 5, 2018
Answer to Question 1

Ima Broke is misrepresenting the company's financial position. The principal of loans has to be paid back when due, but the company has no obligation to give money back to its owners. A potential creditor will be misled and may decide to lend the money only to find out later that the company does not have the ability to pay back its loans when due.

Answer to Question 2

B


Mr. Wonderful

  • Member
  • Posts: 866
Reply 2 on: Jul 5, 2018
Great answer, keep it coming :)

ecabral0

  • Member
  • Posts: 310
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

In the ancient and medieval periods, dysentery killed about ? of all babies before they reach 12 months of age. The disease was transferred through contaminated drinking water, because there was no way to adequately dispose of sewage, which contaminated the water.

Did you know?

In 2012, nearly 24 milliion Americans, aged 12 and older, had abused an illicit drug, according to the National Institute on Drug Abuse (NIDA).

Did you know?

Inotropic therapy does not have a role in the treatment of most heart failure patients. These drugs can make patients feel and function better but usually do not lengthen the predicted length of their lives.

Did you know?

As of mid-2016, 18.2 million people were receiving advanced retroviral therapy (ART) worldwide. This represents between 43–50% of the 34–39.8 million people living with HIV.

Did you know?

Hypertension is a silent killer because it is deadly and has no significant early symptoms. The danger from hypertension is the extra load on the heart, which can lead to hypertensive heart disease and kidney damage. This occurs without any major symptoms until the high blood pressure becomes extreme. Regular blood pressure checks are an important method of catching hypertension before it can kill you.

Stem Cell Research Could Expand Clinical Use of Regenerative Human Cells Stem Cell Research Could Expand Clinical Use of Regenerative Human Cells
Spike Lee (director and producer), When the Levees Broke: A Requiem in Four Acts. Spike Lee (director and producer), When the Levees Broke: A Requiem in Four Acts.
Number and label designations for oxygen sensors. Bank 1 is the bank where cylinder number 1 is ... Number and label designations for oxygen sensors. Bank 1 is the bank where cylinder number 1 is ...
Offshore spawning stock biomass, Grand Bank Atlantic Cod since the early 1980s Offshore spawning stock biomass, Grand Bank Atlantic Cod since the early 1980s
Use a graphical method to find the length of the loan to the nearest year Use a graphical method to find the length of the loan to the nearest year
Video: Homologous chromosomes during prophase I - Animation

For a complete list of videos, visit our video library