TRUE OR FALSE 10. Cooperatives are expected to conduct their affairs in accordance with Filipino culture, good values and experience and the universally accepted principles of cooperation. 11. Cooperatives cannot enjoy support in all forms from the government as it would run contrary to the principle of equality among business entities. 12. The Department of Trade and Industry functions like the Cooperative Development Authority for private corporations.

TRUE OR FALSE 10. Cooperatives are expected to conduct their affairs in accordance with Filipino culture, good values and experience and the universally accepted principles of cooperation. 11. Cooperatives cannot enjoy support in all forms from the government as it would run contrary to the principle of equality among business entities. 12. The Department of Trade and Industry functions like the Cooperative Development Authority for private corporations.

Business/Professional Ethics Directors/Executives/Acct

8th Edition

ISBN:9781337485913

Author:BROOKS

Publisher:BROOKS

Chapter2: Ethics & Governance Scandals

Section: Chapter Questions

Problem 5.4EC

See similar textbooks

Similar questions

12. Which is false about cooperative BODs? Group of answer choices Not less than 5 nor more than 15 persons Filipinos and of legal age Elected for a term of 1 year unless by laws will provide No executive function in the cooperative
TRUE OR FALSE 4. As a rule, cooperatives are allowed to establish their branch offices and cooperative satellite offices. 5. The establishment of cooperatives is of itself a shared endeavor between the public sector and the private sector. 6. Cooperatives are expected to undertake feasibility studies before they engage into business ventures.
Presented below are three models for setting GAAP. 1. The purely political approach, where national legislative action decrees GAAP. 2. The private, professional approach, where GAAP is set and enforced by private professional actions only. 3. The public/private mixed approach, where GAAP is basically set by private-sector bodies that behave as though they were public agencies and whose standards to a great extent are enforced through governmental agencies. Instructions a. Which of these three models best describes standard-setting in the United States? Provide justification for your answer. b. Why do companies, financial analysts, labor unions, industry trade associations, and others take such an active interest in standard-setting? c. Cite an example of a group other than the FASB that attempts to establish accounting standards. Speculate as to why another group might wish to set its own standards.
True or False 25. A cooperative duly-registered consistent with the Philippine Cooperative Code shall have limited liability. 26. Cooperatives like private corporations need not amend their Articles of Incorporation to extend their existence. 27. Dissenting members of a cooperative have the right to withdraw which is similar to the exercise of the right of appraisal of a stockholder.
16. Cooperatives are primarily established to promote the quality of life of its members. True or False 17. Cooperatives when managed properly are treated as self-sustaining economic entities intended for the promotion of social justice. 18. As a rule, members of cooperatives like the stockholders in a private corporations are allowed to vote via cumulative voting.
At the 2019 international meeting of business leaders, Michael Owusu said that multi-jurisdictional attempts to regulate corporate governance were futile because of differences in national culture. He drew particular attention to the Organisation for Economic Co-operation and Development (OECD) and International Corporate Governance Network (ICGN) codes, saying that they were, 'silly attempts to harmonise practice'. He said that in some countries, for example, there were 'family reasons' for making the chairman and chief executive the same person. In other countries, he said, the separation of these roles seemed to work. Another delegate, Victor Bema, said that the roles of chief executive and chairman should always be separated because of what she called 'accountability to shareholders'.One delegate, Vincent Tommy, said that the right approach was to allow each country to set up its own corporate governance provisions. He said that it was suitable for some countries to produce and…
Providing safeguards against corruption and incompetence, removing conflict of interest, and improving perceptions of legitimacy are the arguments for: A. combining the roles of CEO and chairman of the board of directors B. separating the roles of CEO and chairman of the board of directors C. implementing outsourcing and offshoring to enter a foreign market D. implementing joint ventures and subsidiaries to enter a foreign market.
39) In Canada, the main advantage of incorporating federally is: A. your organization does not have to make public their financial statements. B. it is the least costly form of business organization. C. the ability to operate anywhere in Canada and to use the same company name. D. the ease of access to private venture capital funds. E. the ease of access to government grants.
Undertaking FDI, by definition, means not investing in the MNE’s home country. What are the ethical dilemmas here? What are your recommendations as (1) MNE executives, (2) labor union leaders of your domestic (home-country) labor forces, (3) host-country officials, and (4) home-country officials?
The banking crisis in Ghana in recent times has continued the concerns about corporate governance. Elsewhere, both Sarbanes-Oxley Act (US) and the Combined Code (UK) have emphasised the importance of an independent board structure. Explain why agency theorists recommend an independent board structure and with reference to the empirical studies on board structure and firm performance assess the extent to which an independent board helps solve the agency problem. Recommend and justify whether voluntary based or rule-based approach to corporate governance is appropriate for Ghana. Is corporate governance failure a contributing factor to the collapse of the financial institutions in the recent crisis in Ghana?
14. Which one of the following is covered by the Commercial company law of Oman? a. Non-profit organizations b. Social service organizations c. Municipalities d. Joint-stock companies
Harmonization of accounting standards through a private standard-setting process will have both advantages and disadvantages to American investors and businesses. 1. Discuss the advantages of harmonization to American investors. 2. Discuss why differences in accounting principles and disclosure requirements may place American businesses at a competitive disadvantage. 3. Discuss how the U.S. accounting profession can influence the process of harmonization.