1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
8090 [49]
3 years ago
14

Following high-profile corporate scandals including Enron and WorldCom, Congress

Business
1 answer:
Bogdan [553]3 years ago
7 0

Answer:

Following high-profile corporate scandals including Enron and WorldCom, Congress

passed a set of legislations known as the Sarbanes-Oxley Act which requires the

disclosure of the presence or absence of a Code of Ethics for senior financial officers.

Explanation:

The Sarbanes-Oxley Act of 2002 is a federal law that established sweeping auditing and financial regulations for public companies. Lawmakers created the legislation to help protect shareholders, employees and the public from accounting errors and fraudulent financial practices.

You might be interested in
Of fifo or lifo, which method would produce the more favorable cash flow? fifo, because of it produces lower income tax expense
quester [9]
FIFO stands for First In First Out and LIFO stands for Last In First Out.
Answer: LIFO produces more favorable cash flow because LIFO PRODUCES LOWER INCOME TAX EXPENSE.
During inflation, LIFO approach is adopted for tax benefits. With the rise in prices, LIFO produces higher cost of sold amounts of goods.
4 0
3 years ago
Magenta Company purchased a machine from Pink Corporation on October 31, 2018. In payment for the $288,000 purchase, Magenta iss
Blababa [14]

Answer:

$3,176 , it's two months of interests $1,588 + $1,588

Explanation:

If the company paid each month 1/12 of capital plus interest it means that it's necessary to deduct the total amount of interests paid each month.

The company paid $25,588 and the monthly capital it's $24,000, therefore the company paid on interest an amount of $1,588 each month.

The issue of a one year installment note means that the company repay the principal to the lender in a series of periodic payments, in this case each month pay principal plus interests

In the income statement we have to applied the accrual criteria which means that the company only recognize the interest paid in the past months, November and December.

5 0
3 years ago
The agreed cost of an item to be purchased by a business on credit is $4,000. The applicable cost will be debited to advertising
Hoochie [10]

Answer:

$4,480

Explanation:

The total amount to be recorded as expense would include the cost of the item purchased an the values of the applicable taxes.

As such, the advertising expense would include the value of the goods and services tax as well as the provincial sales tax with both tax rates applied to the applicable cost.

Goods and services tax = 5% × $4,000

= $200

Provincial sales tax = 7% × $4,000

= $280

Total debit to advertising expense

= $4,000 + $200 + $280

= $4,480

7 0
3 years ago
Which of the following statements is true of entrepreneurs?
Sindrei [870]

The answer is <u>"B. Entrepreneurs often work long hours and must take on the financial responsibilities of the business."</u>


An entrepreneur is a person who, as opposed to functioning as a worker, establishes and maintains a private company, expecting every one of the dangers and prizes of the endeavor. The business visionary is generally observed as a pioneer, a wellspring of new thoughts, merchandise, administrations and business/or techniques.  

Entrepreneurs assume a key role in any economy. These are the general population who have the right stuff and activity important to foresee present and future needs and put up great new thoughts for sale to the public.  


8 0
3 years ago
Read 2 more answers
Your boss has told you to hire four more people to help you keep track of inventory. What kind of need is this
Fynjy0 [20]
I would say thats a business operations need!

Hope this help! :)
7 0
2 years ago
Other questions:
  • Edwards Electronics recently reported $11,250 of sales, $5,500 of operating costs other than depreciation, and $1,250 of depreci
    12·1 answer
  • On January 31, 2016, Charlie Company paid employees $6,500 for January wages earned. Prepare the general journal entry (without
    11·1 answer
  • Which of the following is a characteristic of the Consolidation phase of e-commerce? predominance of pure online strategies bran
    7·1 answer
  • If W. Edwards Deming was your management consultant, he would emphasize
    11·1 answer
  • Eva, the owner of eva's second time around wedding dresses, currently has five dresses to be altered, shown in the order in whic
    6·1 answer
  • Walberg Associates, antique dealers, purchased the contents of an estate for $75,000. Terms of the purchase were FOB shipping po
    10·1 answer
  • Oakwood Inc. manufactures end tables, armchairs, and other wood furniture products from high-quality materials. The company uses
    8·1 answer
  • Suppose the owners of the bank borrow $100 to supplement their existing reserves. This would increase the reserves account and:.
    12·1 answer
  • Can I Plss get some help on this thank you
    12·1 answer
  • Explain the initial entry strategy of passive vs. active. give an example for each.
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!