Lms Integrated Mindtap Business Law, 1 Term (6 Months) Printed Access Card Cross/miller’s The Legal Environment Of Business: Text And Cases, 10th
10th Edition
ISBN: 9781337093897
Author: Frank B. Cross, Roger LeRoy Miller
Publisher: Cengage Learning
expand_more
expand_more
format_list_bulleted
Question
Chapter 13, Problem 2CT
Summary Introduction
Case summary: Person DT and person MS had formed an university TEI. It sold courses on real estate investing. The attorney general ES alleged that the university was illegal, and that it had committed fraud persistently. A suit was filed against the university in the court. Attorney general ES appealed further after the court dismissed the case.
To find : The result of the case if the courses in real estate investing were offered online.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
READ THE ARTICLE BELOW AND ANSWER THE QUESTIONS THAT FOLLOW:Ernst & Young to Pay $100 Million Penalty for Employees Cheating on CPA EthicsExams and Misleading InvestigationLargest Penalty Ever Imposed by SEC Against an Audit FirmWashington D.C., June 28, 2022The Securities and Exchange Commission today charged Ernst & Young LLP (EY) for cheatingby its audit professionals on exams required to obtain and maintain Certified Public Accountant(CPA) licenses, and for withholding evidence of this misconduct from the SEC’s EnforcementDivision during the Division’s investigation of the matter. EY admits the facts underlying theSEC’s charges and agrees to pay a $100 million penalty and undertake extensive remedialmeasures to fix the firm’s ethical issues.“This action involves breaches of trust by gatekeepers within the gatekeeper entrusted to auditmany of our Nation’s public companies. It’s simply outrageous that the very professionalsresponsible for catching cheating by clients cheated…
READ THE ARTICLE BELOW AND ANSWER THE QUESTIONS THAT FOLLOW:Ernst & Young to Pay $100 Million Penalty for Employees Cheating on CPA EthicsExams and Misleading InvestigationLargest Penalty Ever Imposed by SEC Against an Audit FirmWashington D.C., June 28, 2022The Securities and Exchange Commission today charged Ernst & Young LLP (EY) for cheatingby its audit professionals on exams required to obtain and maintain Certified Public Accountant(CPA) licenses, and for withholding evidence of this misconduct from the SEC’s EnforcementDivision during the Division’s investigation of the matter. EY admits the facts underlying theSEC’s charges and agrees to pay a $100 million penalty and undertake extensive remedialmeasures to fix the firm’s ethical issues.“This action involves breaches of trust by gatekeepers within the gatekeeper entrusted to auditmany of our Nation’s public companies. It’s simply outrageous that the very professionalsresponsible for catching cheating by clients cheated…
Greg Smith told us in his speech, why he left Goldman Sachs. One of his reasons was what he described with a situation in a casino. Is it unethical if an investment bank like Goldman Sachs uses the knowledge, that they gain by consulting their clients, to speculate? If you conclude that this is unethical, please support arguments with ethical theories and / or laws in charge.
Chapter 13 Solutions
Lms Integrated Mindtap Business Law, 1 Term (6 Months) Printed Access Card Cross/miller’s The Legal Environment Of Business: Text And Cases, 10th
Knowledge Booster
Similar questions
- Which of the following are the characteristics of the Pension Benefit Guaranty Corporation (PBGC)? Check all that apply. Has no regulatory powers May act as the pension fund manager Affected by economic conditions Has vast regulatory powersarrow_forwardThe Tyco scandal of 2002 rocked the business world and shed light on the importance of corporate accountability. Tyco International was a multinational conglomerate that provided security products, fire protection services, and electronic components. It was a well-known and respected company until the discovery of fraudulent activities that led to the downfall of its top executives. Forensic accountants played a crucial role in uncovering the fraud and bringing the responsible executives to justice. By using their expertise in accounting, auditing, and investigation, forensic accountants were able to identify financial irregularities and fraudulent transactions within the company. Forensic accountants utilized various techniques to uncover the fraud. They analyzed financial statements, conducted interviews with key personnel, reviewed internal control systems, and examined other relevant data. By carefully scrutinizing financial records and identifying discrepancies, forensic…arrow_forwardWaste Management Scandal (1998), is one of the top 10 accounting scandals of all times. The Securities and Exchange Commission (SEC) found the company's owner and former CEO, Dean L Buntrock, guilty, along with several other top executives, and Waste Management's auditors, Arthur Andersen. What is meant by public interest of an auditor? Do we find the auditors — Arthur Anderson, serving their duty?arrow_forward
- Dolla going Ultra Microfinancier launches new business geared towards wealthy DOLLA Financial Services Limited will be launching its newest subsidiary, Ultra Financier Limited, on November 1 to be led by CEO David Henriques. The company was incorporated on August 3, according to the Companies Office of Jamaica records, but only received approval for its formation by its board of directors recently. The subsidiary will be injected with $350 million from Dolla's upsized $1.5-billion secured corporate notes (bond). Dolla is the sole shareholder with 1 million ordinary shares, with Dolla Chairman Ryan-Kwesi Reid, Dolla CEO Kadeen Mairs, Dolla Chief Financial Officer Trevene McKenzie, First Rock Private Equity (FRPE) Managing Director Christopher Yeung and Henriques as directors. "Ultra is going to be lending to high net worth (HNW) individuals. We'll lend between $1 million to $100 million per person and we take luxury assets, prime investments, and properties as collateral. A person can…arrow_forwardPlease answer to quetion No.1 1. What were the responsibilities of the accountants at Arthur Andersen? To whom did they owe these responsibilities? 2. Who was harmed by the insider trading of Enron executives? What harm, if any, was done to employees who were prevented from selling Enron stock in their 401(k) accounts?arrow_forwardPlease research a tax evasion case you have never seen before. Please share a very brief summary of your findings and why you chose this particular case. Do you think the person was actually guilty or that they were practicing what they felt to be legal tax avoidance?arrow_forward
- Please solve all questions please recall the following declaration: “the general public's perception of company ethics changed dramatically with the revelation of the unethical selection-making at Enron, WorldCom, Adelphia, Tyco international, Peregrine systems and iVillage. The scandals took a toll on purchasers' confidence and portfolios, and undermined their religion inside the accounting career. company stakeholders have referred to as for more transparent financial reporting and evidence of higher ethical behavior”. Required: a. dicsuss and give an explanation for four (four) underlying problems that lead to the dilemma. b. Describe 3 (three) broad categories of fraud schemes that can arise base on the scenarioa above supply one example for each class.arrow_forwardIs the public is better-served by the existence of the CPSC?arrow_forwardExplain Auditing in times of social distancing: the effect of COVID-19 on auditing quality proposed byAustralian Securities and Investment Commission (ASIC) in the following situations:1. What should be the focus areas for auditors under COVID-19 conditions?2. Should audit fees be reduced when reviewing other cost saving initiatives?3. Should an auditor delay their opinion until a limitation or uncertainty is resolved?4. What should be influence of COVID-19 and going concern assessment?arrow_forward
- 1. Under what broad risks would you put these risk factors? Economic Distress Mismanagement Technological Causes Working Capital Problems Fraudulent Managementarrow_forwardJimmy Wales founded Wikipedia, a user-generated online encyclopedia that has 42 times as many articles as Encyclopedia Britannica and is viewed 7 billion times every month. (A 2005 study of Wikipedia found that the typical Wikipedia article contained only slightly more errors than a similar article from the Britannica.) It is a nonprofit operation. Wales decided at Wikipedia's inception that user devotion to the web-site could be harnessed later to make Wikipedia-like products for profit. Three years ago, Wales co-founded a freely-hosted, ad-supported community hosting service called Wikia. Wales used Wikipedia's most dependable volunteer contributors to build the site, which does have advertising and promotion. The site had to draw only a small fraction of Wikipedia's more than 160 million monthly unique visitors to make a substantial profit. Within two years of its creation, Wikia was attracting more traffic daily than the web-site for the Los Angeles Times.According to the SWOT…arrow_forwardEthical Considerations. How did the decoupling ofrisk and reward contribute to the problems in the subprime mortgage industry?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
BUSN 11 Introduction to Business Student EditionBusinessISBN:9781337407137Author:KellyPublisher:Cengage Learning
Essentials of Business Communication (MindTap Cou...BusinessISBN:9781337386494Author:Mary Ellen Guffey, Dana LoewyPublisher:Cengage Learning
Accounting Information Systems (14th Edition)BusinessISBN:9780134474021Author:Marshall B. Romney, Paul J. SteinbartPublisher:PEARSON
International Business: Competing in the Global M...BusinessISBN:9781259929441Author:Charles W. L. Hill Dr, G. Tomas M. HultPublisher:McGraw-Hill Education
BUSN 11 Introduction to Business Student Edition
Business
ISBN:9781337407137
Author:Kelly
Publisher:Cengage Learning
Essentials of Business Communication (MindTap Cou...
Business
ISBN:9781337386494
Author:Mary Ellen Guffey, Dana Loewy
Publisher:Cengage Learning
Accounting Information Systems (14th Edition)
Business
ISBN:9780134474021
Author:Marshall B. Romney, Paul J. Steinbart
Publisher:PEARSON
International Business: Competing in the Global M...
Business
ISBN:9781259929441
Author:Charles W. L. Hill Dr, G. Tomas M. Hult
Publisher:McGraw-Hill Education