(Answered) Q1 visit the following website on the ten worst corporate

Accounting

Q1. Visit the following website on the ten worst corporate accounting scandals of all time. Select one of the scandals that interest you on this site.

Q2. Create a one to two-page report to address the following questions:

Provide the name of the company involved in the scandal you chose.
What was the accounting scandal? What wrongdoing occurred?
Specifically, which one of the four accounting GAAP principles did the company violate?
Why do you think this principle was violated? Explain your answer.
In the financial statements, there are several accounts: assets, liabilities, equity, revenue, and expense. What account type is involved in this scandal? For example, did they overstate revenue, did they understate expenses, etc.?
How was the company penalized? Do you think the penalty was enough to prevent future scandals?
Identify one other penalty that you would have applied. Explain your answer.

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