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Alekssandra [29.7K]
3 years ago
14

Bob is the CEO of ABC Hydraulics. Bob is committed to ethical business practices. He ensures that his investors are kept well-in

formed of the state of the company. As part of his commitment to transparency and ethical practices, he prefers that the top level executives don't see the inner workings of the company's financials so that they aren't tempted to try to defraud the company by embezzling. Is this complying with SOX (Sarbanes-Oxley Act)?
Business
1 answer:
NARA [144]3 years ago
8 0

Answer:

No, SOX mandates that top level executives must certify that financial information is accurate.

Explanation:

This mandate was included in  Sarbanes-Oxley (SOX) Act of 2002. It requires top level executives to certify the financial information that the company made in writing.

This mandate was made in order to held Top level executives accountable regarding every aspect of operation that exist within the company.

If this mandate did not exist, the situation will became more dangerous for Bob. Top level executives could do corrupt practices and make lower level accountant as a scapegoat for their actions.

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The objective of maximizing value for the shareholders provides an important theme in corporate finance. This objective is not w
Illusion [34]

Answer:

D

Explanation:

Agency conflicts arises  when the objectives of managers isn't aligned with that of shareholders.

Due to the objective of maximising value for shareholders, managers might be induced to engage in aggressive accounting practices in order to present a higher profits than might actually exist. This practice is unethical. This places more emphasis on profits than cash flows.

4 0
3 years ago
When using the needs approach, several "special needs" should be considered. One special need is money to cover unexpected event
12345 [234]

Answer:

Emergency fund.

Explanation:

Emergency funds are money that we keep on hand in case of unforeseen events. It may cover car repairs, unforeseen buying, medical bills and so on.

It is important to hold some emergency funds so as to avoid being stranded with no access touch needed resources.

Also emergency funds can be saved over time in case of job loss, having some back-up funds to use in the meantime will be a wise strategy.

3 0
2 years ago
2) Economic Growth: Use the PPF from above to illustrate the effects of saving and investment upon national GDP. Use a PPF to sh
Inessa [10]

Answer and Explanation:

Economic Growth can be defined as an increment in production capacity of an economy using all its available resources. The PPF illustrates the largest possible quantity of goods and services a nation can produce base on its available resources. An outward shift in the economy’s production possibility frontier (PPF) depicts  a raise in productive capacity of an economy.  An outward shift implies that an economy has capacity to  increase its production outputs. This can be as a result of   the economy employing new technology, allowing specialization, increasing its labour force, using new production approaches etc. Likewise, an inward shifting PPF implies an economy has witness a loss or exhaustion of some of its scarce resources and it will culminate into reduction in an economy’s productive potential.

Effects of saving and investment upon national GDP

level of savings direct related to the level of investment, investment feeds on available finance from saving. If more people save, the banks will be able  to lend more to firms to support their investments.

low savings and investment implies a PPF inward shift. low savings  in economy implies that the economy is opting for short-term consumption over long-term investment, and this will lead to future undue pressure on available infrastructures ad resources.

spending  on consumer goods vs capital goods effect on the economy

In the short run, the economy must prefer using available resources to produce capital rather than consumer goods. Standards of living will be affected, as private consumption will have access to fewer resources. However, in the longer run, the raised production of capital goods will boost  the production of more consumer goods ad therefore standards of living will experience more increase than they would have witness if the economy had spent most of its income on consumer goods.

6 0
3 years ago
Identify which of the following microeconomic topics can have an impact on macroeconomic topics?
Anestetic [448]

Answer: B. How do people decide how much to save for the future, or whether they should borrow to spend beyond their current means?

Explanation:

It should be noted that microeconomics has to do with studying of economic agents like the individuals and the firms and how their decision affects the society while macroeconomics deals with the whole economy.

The microeconomic topics can have an impact on macroeconomic topics is option B "How do people decide how much to save for the future, or whether they should borrow to spend beyond their current means".

This is because savings and expenditure have an impact on the economy had whole and this can lead to certain decisions to be taken by the government.

8 0
3 years ago
Suppose that Spain and Denmark both produce jeans and olives. Spain's opportunity cost of producing a crate of olives is 3 pairs
Lyrx [107]

Answer:

b. 6 pairs of jeans per crate of olives; and

c. 4 pairs of jeans per crate of olives

Explanation:

                 Olives       Jeans      Trade off Ratio (Olives:Jeans)

Spain            1               3            1:3 or 0.33:1       (1/3 = 0.33)

Denmark      1              11            1:11 or 0.09:1     (1/11= 0.09)

Spain & Denmark have less opportunity cost & hence comparative advantage than each other,  in Olive & Jeans respectively.

Spain will export Olives to Denmark (importer). Denmark will export Jeans to Spain (Importer). Trade will be gainful if they get exchange ratio better than domestic exchange ratio.

  • '2 jeans pairs per olive crate' not gainful trade ratio for Spain, as it is getting more i.e 3 jeans pair per olive crate at its own domestic ratio.
  • '13 jeans per olive' not gainful for Denmark, as 0.07 = (1/13) olive per jeans is worse than its own domestic ratio i.e 0.09 = (1/11) olive per jeans  

'4 jeans pairs per olive crate'  is gaining trade ratio for:

  • Spain: As it gets 4 i.e more than 3 pairs of jeans per olive crate
  • Denmark : As it gets 0.25 = (1/4) i.e more than 0.09 olive crates per pair of jeans

'6 jeans pairs per olive crate' is gaining trade ratio for:

  • Spain: As it gets 6 i.e more than 3 pairs of jeans per olive crate
  • Denmark : As it gets 0.16 = (1/6) i.e more than 0.09 olive crates per pair of jeans

Both of them are gainful trade ratios, but:

  • 1olive:4 jeans is more gainful for Denmark, as it is gaining relatively more than domestic exchange rate (0.25 is more > 0.09 than 4 > 3).  
  • 1olive:6jeans is more gainful for Spain as it is gaining relatively more than domestic exchange rate (6 is more > 3 than 0.16 > 0.09)  

3 0
3 years ago
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