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You have just opened your own printing business. A large sports franchise is beginning an important...

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Accounting

You have just opened your own printing business. A large sportsfranchise is beginning an important advertising campaign in orderto attract more fans to the sport. The purchasing officer of thecompany calls and asks you to make a bid on printing 5,000 highquality posters that are to be given out to important boosters. Heasks you to come by his office to talk about the job. There, hetells you that he would like to help you get started in your newbusiness. He says that he has already ask for bids, and the lowestbid is $25,000. He continues by suggesting that you come in with abid for $24,000 and give him $500 in cash so that you get the bid.Your immediate reaction is to be flattered because you know thatthis could lead to many more contracts. You go back to your officeand calculate your costs. You are pleased to see that you will makeabout $6,000 on the project, which you really need.

Is the deal suggested by the purchasing office fraud?Explain.

Answer & Explanation Solved by verified expert
3.7 Ratings (674 Votes)
First of all we shall understand what does fraud mean Fraud basically means a wrongful activity causing anything to be true when it is actually not ultimately resulting in personal gain In the given case a large sports franchisee wants to attract more fans of sports for which it wants to launch a large advertising campaign The Purchase department has approached me for    See Answer
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