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Mona, a newly-licensed CPA, who set up an office in South Beach, provides various accounting services to Cardozo Corporation. The services include preparing Cardozo’s financial reports and audit opinions based on the reports. In 2015, Cardozo falls into serious financial trouble, but neither Mona's reports nor her audit opinion letters indicate this situation. Relying on Mona’s work product of Cardozo’s financial situation, BancoAmerico loans Cardozo Corporation a three million dollars to build a new manufacturing facility, and Wright Machinery supplies (on credit) heavy-duty industrial equipment to Cardozo Corporation to build the facility. During the course of her engagement, Mona is aware of the fact that her work product would be used to secure a loan from a bank, but she did not know the exact bank from which credit was requested or how much money the Cardozo was requesting from the bank; furthermore, she did not know that her reports would be distributed to any other party, including Wright Machinery. If Mona did not engage in actual fraud, but was merely negligent in her preparation of the financial reports and audits, what is her potential liability to BancoAmerico? What is her potential liability to Wright Machinery? What is her potential common law liability any other third parties who relied on her reports? Discuss,
A corporation's decision to issue a dividend, and the size of that dividend, is made by: A. the shareholders B. the board of directors C. the president of the corporation and ratified by the board of directors D. the board of directors and ratified b..
A Treasury bond that matures in 10 years has a yield of 4%. A 10-year corporate bond has a yield of 8%. Assume that the liquidity premium on the corporate bond is 0.8%. What is the default risk premium on the corporate bond?
Modeling Alternatives using Linear Programming for production
write a report addressing a quantitative analysis (QA) project. Here, you are asked to select a business of interest and develop QA best practices that can be developed and implemented to increase revenues and/or to decrease costs.
What is the role of quality role in the development of an E-Commerce capability?
What arguments can you provide that access should be available at no cost for all under a certain income level but that those of higher income must pay an actuarially determined fee annually or risk being financially liable for any uncovered medical ..
The strategic importance of locations and the factors that affect the decision of where to locate a facility. One of the primary roles of an operations manager involves being part of the decision process to locate a new facility in order to either ex..
Determine two to three (2-3) methods of using stocks and options to create a risk-free hedge portfolio. Support your answer with examples of these methods being used to create a risk-free hedge portfolio. Create a unique hypothetical weighted average..
Tiny Software Company creates software security applications intended to protect point-of-sale terminals in retail stores from being hacked. While Tiny Software hires talented and experienced employees, it provides a significant amount of training fo..
What is the probability that both service clerks are idle?, How many customers, on average, are waiting in line in front of each service desk?, How much time does a customer spend at the service desk (waiting plus service time)?
Within the present trend of business structures highlighting the importance of organizational dependence on gathering, collecting, and storing data from different departments. Should organizations place such a heavy reliance on Information Systems if..
A CPA has been engaged to audit the financial statements of Sapphire Distributors, Inc., a continuing audit client, for the year ended September 30, 20X8. After obtaining an understanding of Sapphire's internal control system, the CPA set control ris..
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