Agovernment's statement of revenues, expenditures, and changes in fund balances reflected expenditures for debt service in the amount of $12,000,000, including $7,000,000 for interest. it also reflected proceeds of bonds in the amount of $4,000,000. no interest accruals were involved. when moving from the changes in fund balances reported for the governmental funds to the change in net position for governmental activities, the net change would be:
a) $3,000,000 decrease
b) $1,000,000 decrease
c) $3,000,000 increase
d) $1,000,000 increasea government's statement of revenues, expenditures, and changes in fund balances reflected expenditures for debt service in the amount of $12,000,000, including $7,000,000 for interest. it also reflected proceeds of bonds in the amount of $4,000,000. no interest accruals were involved. when moving from the changes in fund balances reported for the governmental funds to the change in net position for governmental activities, the net change would be:
a) $3,000,000 decrease
b) $1,000,000 decrease
c) $3,000,000 increase
d) $1,000,000 increase

Benton company (bc), a calendar year entity, has one owner, who is in the 37% federal income tax bracket (any net capital gains or dividends would be taxed at a 20% rate). bc's gross income is $395,000, and its ordinary trade or business deductions are $245,000. ignore the standard deduction (or itemized deductions) and the deduction for qualified business income. if required, round computations to the nearest dollar. a. bc is operated as a proprietorship, and the owner withdraws $100,000 for personal use. bc's taxable income for the current year is $ , and the tax liability associated with the income from the sole proprietorship is $ . b. bc is operated as a c corporation, pays out $100,000 as salary, and pays no dividends to its shareholder. bc's taxable income for the current year is $ , and bc's tax liability is $ . the shareholder's tax liability is $ . c. bc is operated as a c corporation and pays out no salary or dividends to its shareholder. bc's taxable income for the current year is $ , and bc's tax liability is $ . d. bc is operated as a c corporation, pays out $100,000 as salary, and pays out the remainder of its earnings as dividends. bc's taxable income for the current year is $ , and bc's tax liability is $ .

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The textbook defines ethics as “the principles of conduct governing an individual or a group,” and specifically as the standards one uses to decide what their conduct should be. to what extent do you believe that what happened at bp (british petrolium) is as much a breakdown in the company’s ethical systems as it is in its safety systems, and how would you defend your conclusion?