Development teams have been called skunk works

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1. Some research and development teams have been called "skunk works." What is a skunk works team and how does it enhance organizational effectiveness? Answers should have at least three paragraphs (15 sentences).

2. Reed Furniture purchases some merchandise with an invoice price of $21,700, and terms of sale of 1/10, n/30. What is the net amount due on the order if a partial payment of $8,900 is made on the 10th day?

3. Discuss factors that an external auditor should consider in assessing the risk of fraudulent financial reporting committed by a public company CFO or CEO. In discussing this topic, please consider risks of fraudulent financial reporting that are related to the fraud triangle (i.e., incentive/pressure, opportunity, and rationalization.). Also, research factors that the PCAOB and the AICPA identify as fraudulent financial reporting risks.

Reference no: EM132186436

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