Kevin Chitry, a Sales Executive for CIT Manufacturing, Frequently Took

question 26

Multiple Choice

Kevin Chitry, a sales executive for CIT Manufacturing, frequently took clients out for dinner and shows when they came to town to tour the plant. He usually paid for these expenses himself and submitted the receipts to his supervisor for approval and reimbursement. Occasionally, however, he also took his family out to restaurants and rock concerts and included these expenses in his reimbursement requests by indicating that he was entertaining a client. This type of fraud is known as a(n) :

• A) Overstated expense reimbursement
• B) Mischaracterized expense reimbursement
• C) Fictitious expense reimbursement
• D) Altered receipt reimbursement

Identify the factors and situations that necessitate shareholder approval in a corporation.

Understand the legal limitations and liabilities of corporate directors.

Recognize activities that could result in liability for corporate directors.

Grasp the principles of voting and decision-making in shareholder meetings.

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Definitions:

Math.pow

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Class Variables

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