Concept explainers
Concept Introduction:
Ethics in business is a much debated yet less followed topic. Every business has to function with ethics meaning that while doing business, if the people who are an integral part of the business commit unethical practices, the reputation of the business is tarnished. Hence, all individuals who are involved in the functioning of the business should act in an ethical manner.
1. The bonus that Rick Pines and Joe Lopez will get by inflating the percentage of ending work-in–process inventory
2. To determine: The affect on the financial statements this year, if the percentage of ending work-in-process is not corrected by Green.
3. To evaluate: The evaluation of the justification given by Joe Lopez
4. To address: The ethical issues, the options, the potential consequences and Green’ analysis
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Horngren's Accounting (12th Edition)
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