Question
10. Youre a forensic accountant for a large multinational conglomerate. Youve been sent to a divisional headquarters abroad where fraud has been committed. Youre leafing
10. Youre a forensic accountant for a large multinational conglomerate. Youve been sent to a divisional headquarters abroad where fraud has been committed. Youre leafing through shoeboxes full of unrecorded documents, and you find a note regarding a loan the company made to one of the local vice-presidents. The note says that $335,000 was loaned in 2002 at 5% interest to the vice-president and that he was to pay back $450,000. Youre trying to figure out if the money was paid back, and it would help you to know how many years the loan was made for, but the note doesnt say. Can you figure it out?
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