The Concept of "Qui Tam

question 19

Multiple Choice

The concept of "qui tam":

• A) Was first established in the United States by the False Claims Act and has been mimicked by various state laws
• B) Was first established in the United States by the False Claims Act, but gained widespread application when it was enacted as a core element of the Sarbanes-Oxley Act
• C) Is an effective deterrent in Europe against accounting fraud and, according to critics, should be adopted in the United States
• D) Enables the SEC to recover an equal share of all investor recoveries obtained in private investor lawsuits

Differentiate between the competitive spectrum of oligopolies and perfect competition.

Analyze the pricing and profit differences between oligopolists and perfect competitors.

Grasp the role of game theory in strategic business decisions.

Calculate industry concentration using concentration ratios and the Herfindahl-Hirschman Index.

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Definitions:

Physical Count

The process of manually counting inventory items to verify quantities and ensure the accuracy of records.

Most Current Prices

Refers to the latest available prices of goods, services, or assets, often used in the evaluation of market trends or valuation assessments.

Ending Inventory

The total value or quantity of goods available for sale at the end of an accounting period, calculated by adding any purchases to the beginning inventory and subtracting sold goods.

Gross Profit Method

An accounting technique to estimate the amount of inventory sold over a period, calculated as sales minus the cost of goods sold at a gross margin.