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2 years ago

The Sarbanes-Oxley Act in 2002 was created to protect consumers against false advertising by monopolies.

1 answer:

3 0

The statement "The Sarbanes-Oxley Act in 2002 was created to protect consumers against false advertising by monopolies." is false.

Sarbanes-Oxley Act placed the obligation of responsibility for a company's financial reporting squarely on the shoulders of its top executives in order to safeguard investors from corporate accounting fraud.

It required chief executive officers (CEOs) and chief financial officers (CFOs) to personally attest to the correctness of the information in financial reports and to affirm that controls and procedures were in place to evaluate and verify that accuracy.

In reality, CEOs and CFOs had to personally certify that financial reports complied with Securities and Exchange Commission(SEC) rules by signing them. Failure to comply with this might result in fines of up to $15 million and 20-year prison terms.

Hence, the given statement is false.

Learn more about the Securities and Exchange Commission:

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Harold works as head chef at the Italian Olive Restaurant in Macon, Georgia. When the management of the restaurant changed, Haro

IRINA_888 [86]

Answer:

violates common law

Explanation:

A non compete is an agreement that restricts a previous employee from working for a competitor of his former company for a given period after disengagement.

This is a contract that aims to reduce to the rate at which company secrets are shared to competitors.

The rationale is that the employee's knowledge of the company's procedures will be obsolete after some years.

However non compete should not last for a very long time. Usually non compete of more than two to three years is not honoured by courts.

So in the given scenario where Harold the head chef at the Italian Olive Restaurant signed a non compete which restricts him from opening a restaurant for the next 15 years. The court will most likely not honour the non compete because the amount of time is not reasonable.

7 0

3 years ago

A portfolio to the right of the market portfolio on the CML is: Group of answer choices a lending portfolio. an inefficient port

cluponka [151]

Answer:

a borrowing portfolio.

Explanation:

A borrowing portfolio is a portfolio to the right of the market portfolio. It is on the right half of the line. It shows that an investor can purchase the market portfolio and still borrow money so as to purchase more.

CML is known as the the capital market line. It shows the most advantageous portfolios that are a combination of risk and return.

7 0

4 years ago

Pureform, Inc., uses the weighted-average method in its process costing system. It manufactures a product that passes through tw

NeTakaya

Answer:

Part 1

The first department's equivalent units :

Materials = 649,600 units

Labor = 635,200 units

Overheads = 635,200 units

Part 2

The first department's cost per equivalent unit :

Materials = $1.50

Labor = $0.12

Overheads = $0.45

Explanation:

It is important to note that the weighted-average method is being used in Pureform, Inc process costing system.

This method focuses on the units completed and transferred and units in closing work in process to calculate the equivalent units of production.

The total cost on which to base the unit cost comprises of cost in Opening Work In Process and the Manufacturing cost incurred during the production period

The first department's equivalent units

Equivalent units = Units Completed and transferred + Units in Closing Work in Process × Percentage of Completion

Therefore,

Materials = 610,000 + 72,000 × 55% = 649,600 units

Labor = 610,000 + 72,000 × 35% = 635,200 units

Overheads = 610,000 + 72,000 × 35% = 635,200 units

The first department's cost per equivalent unit for materials, labor, and overhead

Cost per equivalent unit = Total Cost ÷ Total Equivalent Units

Therefore,

Materials = ($ 68,500 + $ 905,900) ÷ 649,600 units

= $1.50

Labor = ($ 5,700 + $ 70,524) ÷ 635,200 units

= $0.12

Overheads = ($ 21,400 + $ 264,440) ÷ 649,600 units

= $0.45

8 0

3 years ago

Andrew sold IBM stock to his sister Susan for $6,000. Andrew purchased the stock two years ago for $8,000. Susan sold the stock

klasskru [66]

Answer:

c. $1,300 gain

Explanation:

In this scenario, Susan recognized a $1,300 gain on this sale. This is because Susan originally purchased the stock for a total price of $6,000. When she sold the stock, she sold it for a higher price than what she originally paid for it therefore recognizing a gain. To calculate this gain we simply subtract her initial purchase price from her selling price of the stock which would give us a $1,300 gain.

$7,300 - $6,000 = $1,300

6 0

3 years ago

Am I correct? if not lmk the answer please

Vlad [161]

A focus group is a common qualitative research technique used by companies for marketing purposes. It typically consists of a small number of participants, usually about six to 12, from within a company's target market. So yes your right

4 0

3 years ago