Answer:
B) companies to turn over responsibility for establishing and maintaining internal controls for financial reporting to auditors.
Explanation:
Sarbanes- Oxley is popularly called SOX and which is also know as the ''Public Accounting Reform and Investor Protection Act'' in the United States' Senate and ''Corporate and Auditing Accountability, Responsibility and Transparency Act'' is a USA federal law the sets out new regulations for all U.S public company boards, management and public accounting firms. Some part of the Act makes provisions that apply to privately owned companies.
The Sarbanes-Oxley is named after the bill sponsors that is Senator Sarbanes and a U.S Representative known as Micheal G. Oxley and this bill makes sure that the top management of a company must each individually determine and certify the accuracy of all financial information provided or stated. This bill was enacted in 2002 to curb a number of major corporate accounting scandals, especially those affecting big accounting firms like ; Enron, Tyco International, Adelphia, Peregrine Systems, and WorldCom that cost investors to loose a lot of money when the their shares collapsed.
As a guiding principal companies and organizations are supposed to adhere to the options mentioned above except for option B which states: companies to turn over responsibility for establishing and maintaining internal controls for financial reporting to auditors.
Answer:
The correct answer is the letter b. Efficiency refers to maximizing the size of the pie; equality refers to distributing the pie fairly among members of society.
Explanation:
Efficiency is about maximizing production while minimizing costs, ie producing as much as possible with available resources. Equality refers to the distribution of production, that is, the division into economically considered fair parts of what was produced among the agents of society. In the example, efficiency would be to produce the largest pie possible given the existing resources. Equality would be the distribution of the pie considered socially fair.
Answer:
a. The effective price received by sellers is $0.40 per bottle less than it was before the tax.
Explanation:
When government imposes tax on a product, a seller's margin on such a product falls which the seller tries to recover from the buyer by raising the price of the product.
In the given case, $1 is tax payable to government out of which the seller recovers $0.60 from the buyer via increased price. So, the remaining $0.4 tax is being paid by the seller out of his own pocket.
Effective price received refers to net amount received by the seller after deducting expenses and taxes. So, in the given case, the seller now receives $0.4 less per bottle than the receipts before such tax was imposed.
A product that is in a high-growth market but has a low market share would be classified as a question mark on the Boston Consulting Group (BCG) matrix.
Question marks consume huge amounts of money but they do not generate a lot of cash.
Answer: A
Explanation: Tariffs are imposed on foreign goods that are bought into a country. There are several reasons for the imposition of tariff such as revenue generation for the government, prevention of dumping, and protecting local industries.
When tariffs and other trade restrictions are placed on a product, it increases the domestic prices of such products. This is a blessing to domestic producers selling similar products because there will be an increase in demand for domestic products
