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The tobacco companies have paid billions because of smoking-related illnesses. In particular, Philip Morris, a leading cigarette manufacturer, paid more than $3,000,000,000 in settlement payments in one year. Requirements 1.Suppose you are the chief financial officer (CFO) responsible for the financial statements of Philip Morris. What ethical issue would you face as you consider what to report in your company's annual report about the cash payments? What is the ethical course of action for you to take in this situation? 2.What are some of the negative consequences to Philip Morris for not telling the truth? What are some of the negative consequences to Philip Morris for telling the truth?
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On January 2, 2010, it purchased for cash $25,300 of equity securities that it classified as available-for-sale. It received cash dividends of $4,070 during the year on these securities. In addition, it has an unrealized holding gain on these secu..
a. during 2006 avalon company recorded baddebt expense of 10000 and wrote off an uncollectible accountreceivable
january 1 2009 vacker co. acquired 70 of carper inc. by paying 650000. this included a 20000 control premium. carper
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