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zloy xaker [14]
4 years ago
7

Enrico is a CPA for a large company. Recently, he noticed that the company's accounting records significantly overstated the amo

unt of inventory on hand. This led to an overstatement of the assets the company holds. Initially, he brought it to the attention of his supervisor, but when nothing was done to correct the mistake in a timely manner, he decided the best course of action was to report it to the appropriate government official. Although his actions took him outside the company, Enrico was counting on current law, under the ____________, to protect him against company retaliation.
Business
1 answer:
saveliy_v [14]4 years ago
6 0

Answer:

The correct answer is Sarbanes-Oxley Act.

Explanation:

The Sarbanes-Oxley Act is a federal law of the United States that has generated a lot of controversy, since this Law is in response to the financial scandals of some large corporations, including cases that affect Enron, Tyco International, WorldCom and Peregrine Systems. These scandals brought down public confidence in accounting and auditing systems.

The Law takes the name of Senator Paul Sarbanes (Democrat) and Congressman Michael G. Oxley (Republican), and was approved by a large majority, both in Congress and the Senate. The legislation covers and sets new standards for the board of directors and management and accounting mechanisms of all publicly traded companies in the United States. It introduces criminal responsibilities for the board of directors and establishes some requirements on the part of the SEC (Securities and Exchanges Commission), that is, the regulatory commission of the United States stock market.

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10 cents is more valuable than finding a dollar i think because of the connection with hardworking , rather earn something than find because are luck isn’t always trusted
4 0
2 years ago
Geneva needs additional capital to launch her business but does not want to share management responsibility with partners. Neith
Talja [164]

Answer:

The answer is: C) S corporation

Explanation:

Geneva should choose an S Corporation. In my opinion she should do it because corporate income, losses, deductions, and credits are passed through to its shareholders, while it can be managed like a normal corporation.

If she chooses a Limited Liability Partnership she would still have to share management responsibility with her partners and C Corporations are heavily taxed. If she had enough money she could start a sole proprietorship business, but she doesn't have enough money.

5 0
3 years ago
Mary purchased a home in year 1 for $200,000. She made a 20-percent down payment and financed the rest with a 15 year loan at si
Serjik [45]

Answer:

If Mary decides to itemize her deductions, she can deduct $11,000 from her gross income (= $9,600 + $1,400).

Explanation:

For 2019, Mary can deduct mortgage interests from her first loan and the interests from her home equity loan as itemized deductions. Deductions are available for mortgage debt and other home equity loans up to $500,000 for single filers and $1,000,000 for married joint filers.

8 0
3 years ago
The consumer price index is __
Yanka [14]

Answer:

The consumer price index is a systematic calculation used to estimate price increases in a basket of goods and services that are indicative of consumption expenditure in the economy.

Explanation:

The Consumer Price Index refers to a metric used to determine the weighted average price of a set of consumer goods and services, such as food, transportation, and healthcare.  CPI is accountable for monitoring the change in retail prices of fundamental and everyday goods and services purchased by households across the world. Changes in the CPI are required to measure increases in the price of living. The CPI is one of the most commonly used indicators for the detection of inflation or deflation cycles.

7 0
4 years ago
A document commonly used in real estate transactions, detailing the fees, commissions, insurance, etc. that must be transacted f
Ksivusya [100]

Answer:

Closing statement.

Explanation:

A document commonly used in real estate transactions, detailing the fees, commissions, insurance, etc. that must be transacted for a successful transfer of ownership to take place is known as a closing statement. The closing statement is a spreadsheet document that comprises of the statement of actual settlement costs and it is usually provided by a real estate agent to a home seller while the bank gives it to the home buyer.

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4 years ago
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