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Troyanec [42]
3 years ago
11

Sharon, who works in accounting, noticed that the accounting records of her firm drastically overstated the amount of inventory

on hand, which led to overstating the assets of the firm. She thought carefully about calling a government official to report this and in the end decided to do it because she would be protected by the:
Business
1 answer:
scoray [572]3 years ago
7 0

Answer:

Sarbanes - Oxley Act

Explanation:

The Sarbanes - Oxley Act was passed into law by the United States Congress July 30th 2002 basically to provide protection for investors against financial reporting that are fraudulent by corporations. This law was enacted as a result of the cases of financial scandals that shook large companies including Enron Corporation around the year 2000.

The order to protect the investors from fraudulent reporting, the act also protects accounting officers such as Sharon who become whistle-blowers by reporting the malpractices and unethical accounting practices of corporations to the government for actions and sanctions.

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Identify whether you think you may or may not become an entrepreneur and launch your own
Katena32 [7]

Answer:

Explanation:

lol because its the business and elon musk said it himself and heas richest in world

e34rorowjiop

8 0
3 years ago
When you take your first job, you decide to start saving right away for your retirement. You put $5,000 per year into a saving p
mafiozo [28]

Answer:

FV= $857,840.94

Explanation:

Giving the following information:

First investment:

Annual deposit= $5,000 per year

Interest rate= 10%

Number of years= 5

Second investment:

Number of years= 35

Interest rate= 10%

Lumpsum= first investment

First, we need to calculate the future value of the first investment. We will use the following formula:

FV= {A*[(1+i)^n-1]}/i

A= annual deposit

FV= {5,000*[(1.1^5) - 1]} / 0.10

FV= $30,525.5

Now, the future value of the second investment.

FV= PV*(1+i)^n

FV= 30,525.5*(1.1^35)

FV= $857,840.94

7 0
3 years ago
Of course, these engineering controls will cost $33,000 dollars. This is compared to a continuing hearing conservation program t
ra1l [238]

Answer:

Explanation:

As the loan amount is gradually written off by the cost saved , the interest saved is also considered

P= ( 1+ R)^n

F = 9,000

R = 5% , 0.05

Loan amount - $33,000

N=Number of years

Year 1 = 9000( 1+0.05)^-1= 8,571.43

Year 2 =9000(1+0.05)^-2 = 8,163.27=  16.734.70

Year 3= 9000(1+0.05)^-3= 7,774.54 = 24,509.24

Year 4 = 9,000(1+0.05)^-4= 7,404.32= 31,913.56

Year 5 = 9,000 (1+0.05)^-5= 7,051.74= 38,965.3

Payback period is 5 years.

The company has the option of $33,000 for a control that will be repaid over five years period or a continuing hearing conservation program that would have paid ($9,000*5) $45,000 for the five years.

Comparing the two option , The Engineering control is a cheaper option and even with benefits that will outlast the continuing hearing program.

8 0
3 years ago
Ernesto owns a house painting company. Total sales for the past year were $75,000. His bills for running the business were $30,0
pentagon [3]

Answer:

Accounting profit = $45,000

Economic profit = $5,000

Explanation:

The computation of accounting profit and economic profit is shown below:-

Accounting profit = Sales - External expenses

= $75,000 - $30,000

= $45,000

Economic profit = Accounting profit - Implicit cost

= $45,000 - $40,000

= $5,000

Therefore for computing the accounting profit and economic profit we simply applied the above formula so that each one could arrive

7 0
3 years ago
Universal Travel Inc. borrowed $500,000 on November 1, 2013, and signed a 12-month note bearing interest at 6%. Interest is paya
valentinak56 [21]

Answer:

C.$5,000.

Explanation:

November 1, 2013

Amount of Loan = $500,000

As the Interest is payable at maturity, at December 31, 2013 only one month of interest expense is accrued, which is not paid, Following Journal entry will be passed tor record the interest expense.

Dr.  Interest Expense               $2,500

Cr.  Interest Payable on Note  $2,500

Interest Expense = $500,000 x 6% x 2/12 = $5,000

6 0
3 years ago
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