Answer:
The Sarbanes-Oxley Act
Explanation:
The name of the act was given because of the two leaders who jointly worked together to regain the trust of potential investors in the financial system. The act discussed the auditing requirements, directors roles and responsibilities and the signing of the annual report by the directors as well and also that the CFO and CEO will form an opinion about the firms future, goals and giving the undertaking that the financial statement are accurate according to their knwoledge.
Top down/bottom up budgets, lack of control, poor inventorying, lack of staff investment, over control are the least effective financial management practices in creating and monitoring an operating budget.
The operating budget includes the expenditures and revenues generated by the company's daily business functions. The operating budget focuses on operating expenses, such as the cost of goods sold in the market, also known as the cost of sold goods (COGS), and revenue or income. COGS is the cost of direct labor and direct materials used in the production process.
The operating budget also includes overhead and administration costs that are directly related to manufacturing goods and providing services. However, capital expenditures and long-term loans will not be included in the operating budget. Budgets for sales, production process or manufacturing, labor, overhead, and administration are a few examples of frequently utilized operating budgets.
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Answer:C.TINSTAAFL Rating
Explanation:
(310-130=180)
debit cash $180; credit Accounts Payable, $180
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Answer:
If X Company uses the units of production method for calculating depreciation, depreciation expense in 20X3 will be (rounded):
$45000
Explanation:
Cost 360000
Accum. Depre 90000
Usefull life 7
Produce 1 20000
Produce 2 10000
Produce 3 50000
80000
Deprec=cost/unit
Depre=360000/80000
Depre= 4,5
Produce 2012 20000 4,5 90000
Produce 2013 10000 4,5 45000
Produce rest 50000 4,5 225000
80000 4,5 360000