Insurance Fraud A gang of Russian crooks ran a record-setting‚ $279 million fraud that exploited New York’s “no-fault” auto –accident law‚ authorities said 2/29/12. The gang worked with corrupt doctors to set up more than 100 phony medical clinics across the city. There‚ they generated fake bills for the treatment of “injuries” that “ranged from wild exaggerations to outright fabrications‚” Manhattan US Attorney Preet Bharara said. The fraudsters took advantage of the “patient-friendly provisions”
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Acct 2102 Midterm 1 Study Guide Test Format: Multiple choice questions (42 @ 6.25 points each). Total possible points are 262.5 Maximum grade is 250! The extra points are to compensate for any weakness in the main test instrument and misunderstanding in the question wording. Students need to bring their own scantron. Do not mark your scantron until you have selected your FINAL answer. Eraser marks confuse the scantron grading machine. All adverse consequences of eraser marks and mismarks
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Chapter 3—The Internal Organization: Resources‚ Capabilities‚ Core Competencies‚ and Competitive Advantages TRUE/FALSE 1. According to the Opening Case‚ Apple’s strong financial performance in poor economic times is largely credited to its innovation capabilities. ANS: F PTS: 1 DIF: Medium REF: 71 OBJ: 03-01 TYPE: comprehension NOT: AACSB: Business Knowledge & Analytical Skills | Management: Creation of Value | Dierdorff & Rubin: Managing strategy and innovation 2. People are a critical resource
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payments in place of wages (functioning in this case as a form ofdisability insurance)‚ compensation for economic loss (past and future)‚ reimbursement or payment of medical and like expenses (functioning in this case as a form of health insurance)‚ and benefits payable
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Dell – Supply Chain Management Case Study 1 Case Contents 1. Introduction......................................................................................................2 2. Dell – Company Overview ...............................................................................2 3. Dell Products and Services .............................................................................3 4. Dell – Key Facts ................................................................................
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Case Study: Enron Corporation Accounting Scandal 1. What is Enron Scandal? Formed in 1985 from a merger of Houston Natural Gas and Internorth‚ Enron Corp. was the first nationwide natural gas pipeline network. Over time‚ the firm’s business focus shifted from the regulated transportation of natural gas to unregulated energy trading markets. The guiding principle seems to have been that there was more money to be made in buying and selling financial contracts linked to the value of energy
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shareholders and investors in an attempt to cover her tracks and keep her stock from plummeting” (Hurtado‚ N. P. (n.d.). Comey believe that the criminal case was all about lying and he said that Martha is being prosecuted for what she did and not who she is. When she went to court she plead not guilty. Stewart was also charge with “securities fraud stemming” (Hurtado‚ N. P. (n.d.).‚
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local charity‚ and creating jobs. But in reality‚ “he was a con man who built a building on smoke and mirrors”. Russell Wasendorf‚ Sr. sentenced on variety of factors‚ such as financial loss‚ sophistically executed the fraud‚ and stole money of large number of victims and so on. The fraud was started in early 1990’s‚ when Wasendorf partner of Peregrine
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situation given. (One mark for each matching) A. Corporate governance F. Liabilities B. Going concern concept G. Financial Accounting Information. C. Reliability (Objectivity) Principle H. Generally accepted accounting principles D. Stable-dollar assumption I. Realization principle E. Accrued basis accounting J. Matching principles ____1. Future payment the business owes to creditors. ____2. The rule that requires financial statements to reflect
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Motives for the cheats The motives for fraud are clear‚ it’s a financial crime. People can not pay the bills. They figure stealing from an insurance company which is big and greedy is no great moral wrong and no one will miss the money. However‚ even if the company is big and greedy it is still wrong. How people get caught by an insurance company Fraud units at insurance companies are experts. But the reason people get caught are for obvious reason. People make stupid mistakes. However‚ as a word
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