As a Buyer for Your Company,you Direct Large Sums of Money

question 194

Multiple Choice

As a buyer for your company,you direct large sums of money to some suppliers when you make purchases of raw materials from them.One day,you receive an unsolicited $1000 cheque in the mail from one of the suppliers.The accompanying note says that you can use the money to buy some toys for your children.You consult your company's code of ethics and notice that employees are not allowed to accept gifts from suppliers for their own personal use.But the policy doesn't say anything gifts for family members,so you decide to use the card.Which of the following would support your decision?

• A) The gift card has no expiration date,so you can wait to use it later,when you are no longer in your current position.
• B) The cheque was received at your home,not at work.
• C) As it happens,you have just spent some money on gifts for your children,so you have no immediate need to use the card.
• D) The president of the supplier in question is your father-in-law,so the gift is a personal gift for his grandchildren.
• E) On checking,you discover that the supplier sent gift cards of lower value to other salespersons in his company.

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Definitions:

Bankruptcy and Insolvency

Legal statuses of an individual or entity that cannot repay the debts they owe to creditors.

Bankruptcy Offence

A criminal act under bankruptcy law, such as fraud or misrepresentation, during the bankruptcy process.

Supplier

An individual or company that provides goods or services to another entity, typically in a commercial transaction.

Legal Position

Refers to the status or stance taken by a party or an individual based on the laws, legal rights, and obligations that apply to their particular case or situation.