Asked by Makaylee Wright on May 11, 2024
Verified
Which is the most accurate statement?
A) We have never had corporate corruption until around the year 2000.
B) If you ask the average American if he believed all corporate officers were honest,he would answer "Yes."
C) Enron is the only large corporation that was caught up in a financial scandal since the 1980s.
D) Although it may be years before we know the full damages incurred,it seems very likely that the corporate financial scandals of recent years will end up costing those corporations and the public billions of dollars.
Corporate Financial Scandals
Refers to major instances of misrepresentation, fraud, or unethical behavior by companies or their representatives, often leading to legal action and significant financial losses.
Enron
An American energy company that became infamous for its bankruptcy and the scandal resulting from its fraudulent accounting practices.
Corporate Corruption
Unethical practices by individuals in power within corporations, often involving bribery, embezzlement, or manipulation of financial statements.
- Comprehend the ramifications of unlawful business behaviors, such as deceptive advertising and manipulation of the market.
Verified Answer
RT
Rahsheeda ThomasMay 14, 2024
Final Answer :
D
Explanation :
This is the most accurate statement because it acknowledges the existence of corporate financial scandals in recent years and the potential cost incurred by corporations and the public. Option A is incorrect as corporate corruption has existed for centuries, not just in the 21st century. Option B is also incorrect as surveys have shown that many Americans do not trust corporate officers. Option C is incorrect as there have been several other corporations involved in financial scandals besides Enron.
Learning Objectives
- Comprehend the ramifications of unlawful business behaviors, such as deceptive advertising and manipulation of the market.