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Glencoe Accounting: First Year Course, Student Edition | 1st Edition | ISBN: 9780078688294 | Authors: Glencoe
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Examining the Impact of Unethical Decisions Instructions Assume that the accountant for

Chapter 29, Problem 29-8

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QUESTION:

Examining the Impact of Unethical Decisions

Instructions Assume that the accountant for a drug manufacturing company made the decision to record the company’s ending drug inventory at an amount higher than its actual worth. How does this decision affect gross profit and net income for that accounting period? In what ways might this decision affect shareholder value? How might this affect confidence in the company’s financial statements in the future?

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QUESTION:

Examining the Impact of Unethical Decisions

Instructions Assume that the accountant for a drug manufacturing company made the decision to record the company’s ending drug inventory at an amount higher than its actual worth. How does this decision affect gross profit and net income for that accounting period? In what ways might this decision affect shareholder value? How might this affect confidence in the company’s financial statements in the future?

ANSWER:

                                                           Step 1 of 2

Ethics refers to the study of the notions of right and wrong. They are usually followed to present financial accounts are presented in good faith.

                                                           

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