The Following Items (In Thousands) Are Taken from the Financial

question 135

Multiple Choice

The following items (in thousands) are taken from the financial statements of Huang Company for the year ending December 31, 2014: What is total equity and liabilities at December 31, 2014?

• A) ¥528,000
• B) ¥570,000
• C) ¥654,000
• D) ¥696,000

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Definitions:

Bid-Rigging

Bid-rigging is an illegal agreement between parties to manipulate the outcome of a bidding process to their advantage, often at the expense of others.

Knockout Auctions

Auctions where bidders are eliminated progressively as the bid value increases until only the highest bidder remains.

Amnesty

A governmental act of pardoning a group or class of individuals from legal penalties, typically for political offenses, as part of a reconciliation process.

Bid-Rigging

A form of fraud where competing parties conspire to determine the winner of a bidding process, undermining the competitiveness of the process.