David,the Chief Accounting Officer of Tension Fencing Corporation,wants to Be

question 57

Multiple Choice

David,the chief accounting officer of Tension Fencing Corporation,wants to be sure that all the company's accounts are legal and ethical.Sometimes,however,he is unsure exactly what is legal and what is illegal.David should

• A)not worry about what is legal or illegal as long as the corporate executives benefit in the short run.
• B)try his best to not do anything illegal and keep documentation showing that he always acts in good faith.
• C)not worry about what is legal or illegal as long as it benefits the shareholders.
• D)not worry about what is legal or illegal as long as it benefits the chief executive of the corporation.

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Definitions:

Reasonable Value

An estimation of the fair or appropriate worth of goods, services, or property, taking into consideration factors such as market conditions and the necessity of the item.

Specific Performance

A legal remedy in which a court requires a party to fulfill the exact terms of a contract, rather than paying damages for breach.

Willful Misconduct

Intentional or deliberate wrongdoing or reckless behavior by an individual, typically leading to harm or breach of contractual obligations.

Excludes Liability

A legal term that refers to clauses within contracts that attempt to limit or exclude one's responsibility for certain types of damages or losses.