The correct answer is the Public Company Accounting Oversity Board.
The Sarbanes-Oxley Act was enacted in 2002. It’s purpose was to protect investors and add additional oversight for corporations after a number of companies were caught up in accounting scandals and investors lost billions of dollars.
Answer: D. Transferability of investor ownership.
Explanation:
From the question, we are informed that Roman owns shares in a company called Copnay Telecom Inc. and that the company's financial performance has been declining over the past few months, and the value of its stock has been decreasing.
We are further told that Roman wants to proactively cut his losses and therefore sells his shares and that Jeremy, a trading enthusiast, buys shares in Copnay Telecom because he believes that the share prices cannot go anywhere but up.
The characteristics of a public stock company that this scenario best exemplify is transferability of investor ownership. This was illustrated when Roman transferred his ownership to Jeremy.
Answer: $6,000
Explanation:
When expenses such as this interest expense are for 12 months or more, the deduction will need to be evenly spread over the period that they apply to. As the loan was to be repaid in 24 months, the interest payment deductions should be evenly spread over 24 months.
= 12,000/24
= $500
That means that for Year 2, the relevant deduction will be for the 12 months in it;
= 500 * 12
= $6,000
Answer:
The correct answer is option B.
Explanation:
The statement "There is no free lunch" means that no product is made for free. Production of any good or service requires resources. These resources are scarce and have alternative uses. So in order to produce any goods or services limited resources are used and its alternative uses are sacrificed.
Answer:
Cash balance is $85,000
Explanation:
In determining the cash balance of the period, we must know how much is the inflow and outflow of the cash for the period and add it or deduct to the beginning balance. It is simply, beginning balance plus inflows less outflows. February is the first month of the operation of Schwenn Enterprises, that only means the possible beginning balance of the cash is the cash investment. So to further discuss it clearly, let’s do the computation.
Beginning balance on February $100,000
Add: inflow
Cash sales $20,000
Less: outflow
payment on expenses $35,000
CASH BALANCE AT FEBRUARY 28 $85,000
