What Resulted from the Corporate Scandals in the Late 1990s

question 181

Multiple Choice

What resulted from the corporate scandals in the late 1990s and early part of the 21st century?

• A) a surge in the reputation of the accounting profession, because in many organizations it seemed only the accountants refused to go along with the fraudulent schemes
• B) a call for improved ethical training and standards in the accounting profession
• C) decisions by governments to replace external auditors with government auditors
• D) a resurgence of investor confidence

Identify the conditions under which monopolists can earn economic profits or suffer losses.

Examine the factors that lead to inefficiency and potential market failures in monopolistic settings.

Understand the incentives and outcomes related to collusion among oligopolists.

Understand the concept of economic profits and losses in different market structures.

---

Definitions:

Power Distance

A cultural dimension that reflects the extent to which less powerful members of organizations and institutions accept and expect that power is distributed unequally.

Culture

The accumulated habits, beliefs, knowledge, norms, and values of a group of people that influence their behavior and worldview.

HAZMAT Training

Specialized instruction aimed at individuals who handle hazardous materials, focusing on safe practices and emergency response.

Concise Writing

The art of expressing ideas using the fewest possible words without sacrificing clarity.