When Auditing Expenses Claimed by the University President,the Auditors Found

question 12

Multiple Choice

When auditing expenses claimed by the university president,the auditors found extravagant spending on $1,000 per night hotels,banquets,and gourmet restaurants.The president was fired,alumni donations declined,and staff members-who were disturbed by the extravagance while staff salaries were frozen-quit their jobs.This example illustrates

• A) that universities are more corrupt than companies.
• B) that the extravagant spending should have been kept quiet to minimize damage to the university.
• C) that the impact of unethical actions can affect the organization in unanticipated ways.
• D) the need to identify issues.
• E) the lack of information needed to make ethical decisions.

Understand the concept and importance of equity in compensation, including internal, external, and pay equity.

Recognize the relevance and impact of collective bargaining agreements on compensation.

Grasp the objective of wage and salary surveys and their role in achieving external equity.

Comprehend the concept and significance of compensable factors in achieving internal equity.

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Definitions:

Breach of Contract

occurs when one party fails to fulfill its obligations under the contract without a legitimate legal excuse, thereby violating the agreement.

Commercial Units

Standardized units or quantities of goods that are considered acceptable by all parties in a commercial transaction for the purpose of sale or lease.

Conforming

Adhering to or complying with a set standard, rule, or norm.

Non-conforming

Refers to a property or product that does not meet local zoning or building standards.