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KatRina [158]
1 year ago
12

According to the sarbanes-oxley act, who is responsible for the corporation's financial statements?

Business
1 answer:
CaHeK987 [17]1 year ago
5 0

According to the Sarbanes-Oxley act, auditors is responsible for the corporation's financial statements.

The 2002 Sarbanes-Oxley Act imposes strict penalties for corporate fraud. To regulate the accounting sector, it established the Public Company Accounting Oversight Board. It prohibited business loans to executives and provided job protection for informants.

The Act improves the corporate boards' financial savvy and independence. It holds CEOs liable for any faults found during accounting audits.

The Act is named for its sponsors, Congressman Michael Oxley of Ohio and Senator Paul Sarbanes of Maryland. Additionally known as "Sarbox" or "SOX," The law was enacted on July 30, 2002. It is enforced by the Securities and Exchange Commission (SEC).

To learn more about Sarbanes-Oxley Act here

brainly.com/question/4254567

#SPJ4

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You borrow $2,500. you are to pay back the loan in 36 monthly payments of $79.50. what true annual interest are you paying to th
Pepsi [2]

Answer:

4.8%

Explanation:

36months*$79.50=$2862

$2862-borrowed 2,500=362

362/3 years=$120 2/3

this means that the interest is 120 2/3 /2500, which is 0.048266, or 4.82, or in your case 4.8%

4 0
3 years ago
Read 2 more answers
Both the satisfaction of creating new products and the possibility of earning money are _____ for an entrepreneur. risks incenti
Olenka [21]
That would be incentives of entrepreneur

by definition, incentives mean something that motivates you to do a specific activity

In this case, personal satisfaction, following own passion, making more money are the incentives of an entrepreneur
5 0
2 years ago
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Collisions caused by fatigue are particularly likely to involve
Solnce55 [7]
Collision caused by fatigue are particularly likely to involve MEN.
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4 0
3 years ago
Lusk Corporation produces and sells 15,500 units of Product X each month. The selling price of Product X is $25 per unit, and va
Oxana [17]

Answer:

($62,000)

Explanation:

Calculation for the monthly financial advantage (disadvantage) for the company of eliminating this product

Keep Product X Drop Product X Difference

Sales $387,500 $0 $(387,500)

($25 per unit *15,500=$387,500)

Variable expenses $294,500 $0 $294,500

($19 per unit*15,500=$294,500)

Contribution margin $93,000 $0 $(93,000)

Fixed expenses $105,000 $74,000 $31,000

Net operating income (loss)$(12,000)$(74,000)$(62,000)

Therefore the monthly financial advantage (disadvantage) for the company of eliminating this product will be decrease in Net operating amount of ($62,000).

3 0
3 years ago
What is the present value of the following cash flows at a discount rate of 9 percent?
frutty [35]

Answer:

Year 1 PV = 91,743.12

Year 2 PV =126,251.99

Year 3 PV =  154,436.70  

Explanation:

<em>The present value of future sum is the amount that ought to be invested today at interest rate compounded annually to equal the sum at the end of a particular period.</em>

The present value of a future sum is given as follows:

PV = FV × PV (1+r)^(-n)

PV - present value

FV - Future value

r- interest rate

n- number of years

Year 1 PV = 100,000× 1.09^(-1) =91,743.12

Year 2 PV = 150,000× 1.09^(-2) =126,251.99

Year 3 PV = 200,000× 1.09^(-3) =  154,436.70  

4 0
3 years ago
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