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mamaluj [8]
1 year ago
11

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

Business
1 answer:
Igoryamba1 year ago
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:

brainly.com/question/3798508

#SPJ1

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Compare the words spice and police.How are they alike?How are they different?
Charra [1.4K]
They’re both have ice in the words they’re both nouns
Sorry I don’t know how they’re different maybe (the police is a person/or a group of people ) and a spice is a thing used for food
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3 years ago
As a result of the tax, the price received by producers , and . as a result of the tax, the price paid by consumers , and total
exis [7]

This is false because consumer surplus declines because of the increase in price and reduction in quantity.

7 0
3 years ago
Journalizing issuance of stock—at par and at a premium
suter [353]

Answer:

a.

Cash                                                                           27000 Dr

     Common Stock                                                            13500 Cr

     Paid in capital in excess of par-Common stock         13500 Cr

b.

Cash                                                    135000 Dr

     Preferred Stock                                   135000 Cr

Explanation:

a.

When we issue stock at premium, we always record the amount received from such issuance of stock at full. So, the cash account will be debited for 4500 * 6 = 27000

However, we record the common stock issued at par value and the remaining is credited under the reserve account which is Paid in capital in excess of par.

Thus the common stock will be credited by its par value of 4500 * 3 = 13500 and the remaining 4500 * 3 will be credited to the Paid in Capital account.

b.

The par value of the preferred stock is 4500 * 30 = 135000

Thus the preferred stock is issued at par and we simply debit the cash received from the issue and credit the preferred stock.

4 0
3 years ago
Jane Westerlund owns a picture-framing store, The Caplow Co. The average price she receives for a framed picture is $120. This p
Olegator [25]

Answer:

this would cause total costs to Increase and the break-even quantity to Increase.

Explanation:

Total Cost is the Sum of All Manufacturing and Non-Manufacturing  Cost of a product.

Advertising expense before adjustments are at $500. The cost of advertising does not vary with the sales quantities therefore this is a fixed cost.

Therefore an Increase in the advertising expense causes an increase in Total cost figure.

Break even quantity is a function of Fixed Costs divided by Contribution per unit.The break even quantity will definitely change. By increasing the fixed costs (<em>Advertising Expense</em>), the Break even quantity will increase.

5 0
2 years ago
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Answer:

The answer is B :)

Explanation:

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