a gain. A simple working definition of fraud is theft by deception. Legal Elements of Fraud Under common law, fraud includes four essential elements: 1. A material false statement 2. Knowledge that the statement was false when it was spoken 3. Reliance on the false statement by the victim 4. Damages resulting from the victim’s reliance on the false statement In the broadest sense, fraud can encompass any crime for gain that uses deception as its principal technique. This deception is implemented
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depositors, the central bank, and the U.S. Treasury. Correct Marks for this submission: 1/1. Question 2 Marks: 1 If a bank has excess reserves of $10,000 and demand deposit liabilities of $80,000, and if the reserve requirement is 20 percent, then the bank has actual reserves of Choose one answer. a. $16,000. b. $20,000. c. $36,000. d. $26,000. Correct Marks for this submission: 1/1. Question 3 Marks: 1 Because of the adverse selection problem, Choose one answer. a. lenders
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Midterm Study Guide Fin 5170 Fall 2009 The exam will consist on multiple choices, and problems and may be an essay question. I will ask a maximum of two questions taken from the following material covered in class: Chapter 1 • Describe the concept of agency problems and different ways to ameliorate agency problems in a corporation Chapter 3 • Example 3.7 (pages 65-66) • Use the concept of arbitrage to explain the price of Security A in table 3.8, and Security B in table
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special thanks goes to Jepson School research assistant Cassie King for her help in preparing this chapter. 302 13-Antonakis.qxd 11/26/03 5:38 PM Page 303 Ethics and Leadership Effectiveness——303 formulate contemporary research questions in new ways. History and philosophy provide perspective on the subject and reveal certain patterns of leadership behavior and themes
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special thanks goes to Jepson School research assistant Cassie King for her help in preparing this chapter. 302 13-Antonakis.qxd 11/26/03 5:38 PM Page 303 Ethics and Leadership Effectiveness——303 formulate contemporary research questions in new ways. History and philosophy provide perspective on the subject and reveal certain patterns of leadership behavior and themes
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Whistleblowing and ethics helplines in the 1Modes of Managing Morality Model Leon J van Vuuren Department of Human Resource Management University of Johannesburg Abstract The Modes of Managing Morality (MMM) model provides a heuristic device to assist business ethics scholars and practitioners to make sense of the differences that exist in the ways in which different organisations manage their ethics. Although it is difficult to demonstrate a clear distinction between ethics advice and whistleblowing
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jeopardy. THE CONSULTING INDUSTRY Since the burst of the dot-com bubble in 2000, many articles, in business magazines, had characterized the industry’s decline and even forecasted its demise. With the consulting industry’s role in scandals such as Enron, the glut of MBA
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Chapter 1 Strategic Leadership: Managing the Strategy-Making Process for Competitive Advantage Opening Case Wal-Mart Wal-Mart is one of the most extraordinary success stories in business history. Started in 1962 by Sam Walton, Wal-Mart has grown to become the world’s largest corporation. In the financial year ending January 31, 2004, the discount retailer whose mantra is “every day low prices” had sales of nearly $256 billion, five thousand stores in ten countries (almost three thousand are in
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Part 2 Fundamental Concepts in Financial Management Table IC 3-3 Statement of Stockholders’ Equity, 2008 COMMON STOCK Shares Amount $460,000 Retained Earnings $ 203,768 (160,176) (11,000) (171,176) $ 32,592 Total Stockholders’ Equity $663,768 Balances, 12/31/07 2008 Net Income Cash Dividends Addition (Subtraction) to Retained Earnings Balances, 12/31/08 100,000 100,000 $460,000 (171,176) $492,592 Table IC 3-4 Statement of Cash Flows, 2008 ($160,176) 116,960 378,560 353
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Introduction Operated through a complex, cryptic structure Bernie Madoff, CEO of Bernie L. Madoff Investment Securities (BMIS), perpetuated the most embellished Ponzi scheme the world has ever seen. The basis of the securities fraud that took place approximately between 1991 – 2008 was influenced by Bernie Madoff’s reliance upon an unqualified staff, outdated software, organizational seclusion, a personal halo effect, and weaknesses in the regulating body. Madoff had the confidence of the public
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