Sunday
March 29, 2015

Homework Help: business law

Posted by Lily on Sunday, June 3, 2012 at 11:09pm.

A Fortune 500 CFO admits to having deliberately treated $4 billion in operating expenses as assets, thereby allowing the corporation to show profits instead of losses. The auditor never detected this. The corporationís stock drops 95 percent and bond covenants related to billions in debt are breached. At its peak price last year, the CFO sold stock (acquired through options) for $15 million, generating a $10 million gain.

Answer this Question

First Name:
School Subject:
Answer:

Related Questions

Business Law - A Fortune 500 CFO admits to having deliberately treated $4 ...
robin - The Gamma Corporation, one of the firms that retains you as a financial ...
accounting - The monetary contributions that the owners of IBM pay for shares of...
economics - Gamma Corporation, one of the firms that retains you as a financial ...
Economics - I am having problems figuring out how to set this problem up. Gamma ...
Mangerial Economics - I am having problems figuring out how to set this problem ...
Economics - Suppose that a tour bus business incurred implicit costs of $600,000...
Microeconomics - 3. Suppose that a business incurred implicit costs of $500,000 ...
Organizationl Expenditures - Following expenses incurred by Corporation when ...
business law - Standard International Diversified Corporation owns assets in ...

Members