TIF 1-1 Ethics in Action H Marco Brolo is one of three partners who own and...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
TIF 1-1 Ethics in Action H Marco Brolo is one of three partners who own and operate Silkroad Partners, a global import- export business. Marco is the partner in charge of recording partnership transactions in the accounts. On his way to work one day, Marco's car broke down. At the repair shop, Marco learned that his car's engine had significant damage, and it will cost over $2,000 to repair the damage. He does not have enough money in his bank account to cover the cost of the repair, and his credit cards are at their limit. This car is the only form of transportation that Marco has to get to and from work every day. He does not use his car for any business travel. After considering his options, Marco decides to take $2,000 from the partnership for the repair, and record it as an expense of the partnership. He believes that this is appropriate since he needs his car to get to work every day. 1. Is Marco behaving ethically? Why? Who is affected by Marco's decision? 2. 3. What other alternatives might Marco consider? TIF 1-1 Ethics in Action H Marco Brolo is one of three partners who own and operate Silkroad Partners, a global import- export business. Marco is the partner in charge of recording partnership transactions in the accounts. On his way to work one day, Marco's car broke down. At the repair shop, Marco learned that his car's engine had significant damage, and it will cost over $2,000 to repair the damage. He does not have enough money in his bank account to cover the cost of the repair, and his credit cards are at their limit. This car is the only form of transportation that Marco has to get to and from work every day. He does not use his car for any business travel. After considering his options, Marco decides to take $2,000 from the partnership for the repair, and record it as an expense of the partnership. He believes that this is appropriate since he needs his car to get to work every day. 1. Is Marco behaving ethically? Why? Who is affected by Marco's decision? 2. 3. What other alternatives might Marco consider? TIF 1-1 Ethics in Action H Marco Brolo is one of three partners who own and operate Silkroad Partners, a global import- export business. Marco is the partner in charge of recording partnership transactions in the accounts. On his way to work one day, Marco's car broke down. At the repair shop, Marco learned that his car's engine had significant damage, and it will cost over $2,000 to repair the damage. He does not have enough money in his bank account to cover the cost of the repair, and his credit cards are at their limit. This car is the only form of transportation that Marco has to get to and from work every day. He does not use his car for any business travel. After considering his options, Marco decides to take $2,000 from the partnership for the repair, and record it as an expense of the partnership. He believes that this is appropriate since he needs his car to get to work every day. 1. Is Marco behaving ethically? Why? Who is affected by Marco's decision? 2. 3. What other alternatives might Marco consider? TIF 1-1 Ethics in Action H Marco Brolo is one of three partners who own and operate Silkroad Partners, a global import- export business. Marco is the partner in charge of recording partnership transactions in the accounts. On his way to work one day, Marco's car broke down. At the repair shop, Marco learned that his car's engine had significant damage, and it will cost over $2,000 to repair the damage. He does not have enough money in his bank account to cover the cost of the repair, and his credit cards are at their limit. This car is the only form of transportation that Marco has to get to and from work every day. He does not use his car for any business travel. After considering his options, Marco decides to take $2,000 from the partnership for the repair, and record it as an expense of the partnership. He believes that this is appropriate since he needs his car to get to work every day. 1. Is Marco behaving ethically? Why? Who is affected by Marco's decision? 2. 3. What other alternatives might Marco consider?
Expert Answer:
Answer rating: 100% (QA)
1 No Marco is not behaving ethically Paying for car expense which i... View the full answer
Related Book For
Accounting
ISBN: 978-1337899451
27th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
Posted Date:
Students also viewed these accounting questions
-
Marco Brolo is one of three partners who own and operate Silkroad Partners, a global import-export business. Marco is the partner in charge of recording partnership transactions in the accounts. On...
-
Marco Brolo is one of three partners who own and operate Silkroad Partners, a global import-export business. Marco is the partner in charge of recording partnership transactions in the accounts. On...
-
You are one of three partners who own and operate Marys Maid Service. The company has been operating for seven years. One of the other partners has always prepared the companys annual financial...
-
Write a SET client SpellChecker that takes as a commandline argument the name of a file containing a dictionary of words, and then reads strings from standard input and prints any string that is not...
-
Why is diversity becoming more important than ever before?
-
The file Indices contains data that represent the yearly rate of return (in percentage) for the Dow Jones Industrial Average (DJIA), the Standard & Poor's 500 (S&P 500), and the technology-heavy...
-
The account balances for Great Gadget, Inc., for the year ended December 31, 2010, are presented next in random order: Requirements 1. Prepare Great Gadgets single-step income statement. 2. Would you...
-
Coil Welding Corporation sells and services pipe welding equipment in California. The following selected accounts appear in the ledger of Coil Welding Corporation on February 1, 2010, the beginning...
-
Problem 2-21 Calculating Cash Flows Stackhouse Industries had the following operating results for 2023: sales = $54,510; cost of goods sold = $37,430; depreciation expense = $5,830; interest expense...
-
Costa, Inc., recently converted from a 5-day, 40-hour workweek to a 4-day, 40-hour workweek, with overtime continuing to be paid at one and one-half times the regular hourly rate for all hours worked...
-
Consider a rigid body experiencing rotational motion associated with an angular velocity ?. The inertia tensor (relative to body-fixed axes though the center of mass G ) is and ?? = 10i + 20j + 30k...
-
Why is it debatable whether business communicators should apologize?
-
An e-mail announcing a new procedure: a. It has come to our attention that increasing numbers of staff members are using IM to send business messages. We realize that IM saves time and gets you fast...
-
Customer service today is omnichannel and customer-driven, so when someone wants to reach out to you on social media, you need to be there, ready to respond. Of course, having an official response...
-
The owner of Millennium Interiors, Dominique Reese, recently worked on the custom Malibu home of an NBA basketball player. He requested an oversized 12-foot mahogany entry door. Dominique ordered by...
-
An e-mail inquiring about software: a. Please answer the following questions about your voice-recognition software. We would like to know how reliable the machine transcription is and whether the...
-
Ten years from now, you plan on taking a year's unpaid biking across the US from d vacation an Phifadefphra to San Diego. You estimate that expenses, e.g. hotels, bike repairs, food, tolls, etc, Will...
-
Give the products of the following reaction, where T is tritium: dioldehydrase Ad- CH CH3C-COH CoIII) coenzyme B12
-
Daryl Kirby opened Squid Realty Co. on January 1, 2018. At the end of the first year, the business needed additional capital. On behalf of Squid Realty Co., Daryl applied to Ocean National Bank for a...
-
Amazon.com, Inc. is the world's leading Internet retailer of merchandise and media. Amazon also designs and sells electronic products, such as e-readers. Netflix, Inc. is the world's leading Internet...
-
The following transactions were completed by Daws Company during the current fiscal year ended December 31: Jan. 29. Received 35% of the $9,000 balance owed by Kovar Co., a bankrupt business, and...
-
True or False. For a bar element of length \(l\) with two nodes, the shape function corresponding to node 2 is given by \(x / l\).
-
For a bar element of length \(l\) with two nodes, the shape function corresponding to node 1 is given by a. \(\left(1-\frac{x}{l} ight)\) b. \(\frac{x}{l}\) c. \(\left(1+\frac{x}{l} ight)\)
-
What is the basic idea behind the finite element method?
Study smarter with the SolutionInn App