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Svetlanka [38]
3 years ago
9

In response to accounting scandals in 2002, the federal government passed legislation requiring that corporate directors have a

certain level of expertise with financial information and mandating that chief executive officers personally certify the accuracy of financial statements. What is the name of this legislation?
Business
1 answer:
Ne4ueva [31]3 years ago
7 0

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.

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Last year, Kurt invested $1,000 in ABC stock, $1,000 in long-term government bonds, and $1,000 in U.S. Treasury bills. Over the
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6%

Explanation:

3 0
3 years ago
Proprietary and fiduciary funds follow account and reporting principles similar to those of ______ organizations.
suter [353]
City of New York

Hope this helps (:
8 0
2 years ago
Suppose independent truckers operate in a perfectly competitive constant cost industry. If these firms are earning positive econ
Deffense [45]

Answer:

The price of trucking services would fall until equilibrium prices are reached. Only normal profit would be earned in the long run

Explanation:

A perfect competition is characterized by many buyers and sellers of homogenous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry.  

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Also, if in the short run, firms are earning economic loss, in the long run, firms would exit the industry until economic profit falls to zero.  

8 0
3 years ago
Shivers Ice Cream Company estimates its factory overhead costs to be $35,000 and machine hours to be 5,000 for the year.
k0ka [10]

Answer:

The correct answer is A.

Explanation:

Giving the following information:

Estimated factory overhead costs= $35,000

Estimated machine hours= 5,000

The actual hours worked on Jobs 333 and Jobs 334 total 4,980 and actual factory overhead costs are $34,700,

First, we need to calculate the estimated overhead rate:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate= 35,000/5,000= $7 per machine hour

Now, we can allocate overhead based on actual machine hours:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated MOH= 7*4,980= $34,860

Finally, we determine the over/under allocation:

Under/over applied overhead= real overhead - allocated overhead

Under/over applied overhead= 34,700 - 34,860

Under/over applied overhead= $160 overallocated

3 0
3 years ago
When an electrical circuit is capable of conducting current.​
mario62 [17]

Answer: When the switch is closed.

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