Skimming Is an Unethical Business Practice Involving

question 35

Multiple Choice

Skimming is an unethical business practice involving

• A)failure to report all income on tax returns.
• B)employees taking cash from the cash register.
• C)sales associates offering gifts and inducements to purchasers.
• D)managers of competing firms agreeing to charge high prices.

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Definitions:

SEC

The U.S. Securities and Exchange Commission, a federal agency responsible for enforcing federal securities laws and regulating the securities industry and stock and options exchanges.

Letter of Comments

A document often issued by auditors or regulatory bodies outlining concerns, observations, or requests for clarification on specific points in a financial report or audit.

SEC

The United States Securities and Exchange Commission is a federal body tasked with the enforcement of federal securities legislation and the regulation of the securities sector.

Incorporation by Reference

A method that allows a document to be legally part of another document by referencing it, instead of including the entire text of the referenced document.