Attila Works for Epsilon Inc

question 43

Multiple Choice

Attila works for Epsilon Inc.The police recently became aware of illegal activities in connection with that organization.Which of the following statements is TRUE?

• A)Epsilon Inc may be charged with a "white collar crime," which is any crime that was committed by a corporate organization rather than an individual.
• B)Neither Attila nor Epsilon Inc can be charged with a "corporate crime" unless they broke a law that was intended to protect another corporation.
• C)A "white collar crime" is the same thing as a "corporate crime."
• D)Attila may be charged with a crime, but Epsilon Inc cannot, because only a human being can be convicted of a criminal offence.
• E)Even if Attila and Epsilon Inc are convicted of crimes, they may also be sued privately if their actions also amounted to torts committed against other individuals.

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Definitions:

Job-order Costing

A costing method used by companies to assign manufacturing costs to individual products or batches, ideal for customized orders.

Overhead Cost

A rephrased definition: Expenses related to the day-to-day running of a business that are not directly linked to any specific product or service, such as administrative expenses.

Work in Process

The cost of unfinished goods in the manufacturing process including labor, material, and overhead.

Job Cost Sheets

Job Cost Sheets are documents that record and track the expenses associated with a specific job, providing detailed cost information for materials, labor, and overhead.