Assume that Joseph retained Srta Casaas but failed to obtain the contract To Josephs chagrin, it subsequently learns that Srta Casaas y Diaz used part of her fee to make a $10,000 payment to a government official If Joseph has total assets of $5 billion, should it report the episode on its financia...

A 10000 payment would itself be financially immaterial to a 500000 ...

Assume that Joseph retained Srta. Casaas but failed to obtain the contract. To Josephs chagrin, it subsequently

Question:

Assume that Joseph retained Srta. Casañas but failed to obtain the contract. To Joseph’s chagrin, it subsequently learns that Srta. Casañas y Diaz used part of her fee to make a $10,000 payment to a government official. If Joseph has total assets of $5 billion, should it report the episode on its financial statement?