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3 years ago

The Sarbanes Oxley Act (SOX) internal control standards apply only to companies listed on U.S. exchanges. True or false?

Business

1 answer:

Vera_Pavlovna [14]3 years ago

4 0

Answer:

True

Explanation:

The Sarbanes Oxley Act (SOX) is a federal law in the United States that applies to listed or public companies i.e. companies whose shares are traded freely on the stock exchange. The law, which was established in 2002 following several corporate scandals, put in place comprehensive financial and auditing regulations for listed companies.

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Use the following information to compute the cost of direct materials used for the current year. Assume the raw materials invent

gayaneshka [121]

Answer:

Direct material used= $123,600

Explanation:

Giving the following information:

January 1 December 31

Inventories

Raw materials inventory $8,900 $11,300

Materials purchased $126,000

<u>To calculate the direct material used, we need to use the following formula:</u>

Direct material used= beginning inventory + purchases - ending inventory

Direct material used= 8.900 + 126,000 - 11,300

Direct material used= $123,600

6 0

3 years ago

Conversations on twitter move fast and it's easy to miss the opportunity to engage with an important influencer or prospect. ___

Fiesta28 [93]

<span>Conversations on twitter move fast and it's easy to miss the opportunity to engage with an important influencer or prospect. Twitter lists are a great way to group together similar people and topics in twitter so you can focus on activity within a group without distractions.

Twitter lists is a list you can create on twitter to organize your topics. This helps speeds up the time and allows you to read/view the information that you want without the distractions of other information clogging your feed. People can communicate so fast past on twitter that it is often hard to keep up, so by doing this, it makes everything more streamline. </span>

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3 years ago

Trey Morgan is an employee who is paid monthly. For the month of January of the current year, he earned a total of $4,540. The F

love history [14]

Answer:cheating is

Explanation:bad

3 0

2 years ago

Determine the market potential for a backpack that has 200,000 prospective buyers who purchase an average of 2 backpack per year

LekaFEV [45]

Answer:

i.The total number of a company sell if it desires a 10% share of this market? is 40,000 units

ii. The % of the market supplies that should capture to break even is 5%

Explanation:

To calculate break even point in unit, use the formula;

Fixed Cost / Contribution Margin.

In this question, Fixed cost is the factory lease cost of one year for $400,000

Contribution margin is the difference betwen Selling Price and Variable Cost.

This will be $50-$30=$20

Therefore, Break even point in unit = $400,000 divided by $20

this will give 20,000 units.

20,000 units is 5% of the market size of (200,000X2) 400,000 units.

I.e. (20,000/400,000)X100=5%

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3 years ago

On January 1, 2021, Nantucket Ferry borrowed $14,000,000 cash from BankOne and issued a four-year, $14,000,000, 6% note. Interes

kari74 [83]

Answer:

If Interest is not Paid yet

Nantucket Ferry

Dr. Interest Expense $840,000

Cr. Interest payable $840,000

BankOne

Dr. Interest receivable $840,000

Cr. Interest Income $840,000

If Interest is Paid

Nantucket Ferry

Dr. Interest Expense $840,000

Cr. Cash $840,000

BankOne

Dr. Cash $840,000

Cr. Interest Income $840,000

Explanation:

Amount of interest is the expense for Nantucket Ferry and Income for the BankOne on the bond.

As per given data

Amount borrowed = $14,000,000

Coupon rate = 6%

Interest in paid on and received on the bnd is calculated by using the face value and coupon rate of the bond.

Coupon Payment = $14,000,000 x 6% = $840,000

$840,000 will be paid annually to the Bank one.

6 0

3 years ago