V. Management Accounting, Management, & The Law (20 points total) (2 points each except where indicated).

1. In a traditional corporation, who has the ultimate authority to approve and authorize the company master budget?

2. Who is ordinarily responsible for the preparation and implementation of the departmental budget?

3. Name four duties or responsibilities of all employees. (4 points)

a.

b.

c.

d.

4. Define schadenfreude.

5. Give an example of group-think.

6. In the NY Times article, Testilying describe the actual case that the writer cited.

7. In the American Criminal Justice System what standard of proof is needed to convict one who is accused?

8. In the entire history of the US, only one person was ever convicted for treason. Who was this

person? Do you think that she was treated fairly? Why?

9. Does the rule-of-law promote prosperity? How?