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Dima020 [189]
3 years ago
12

The Sarbanes-Oxley Act was created in response to corporate accounting scandals in the early 21st century to reform the accounti

ng industry, particularly in regards to auditing and internal controls.
A. True
B. False
Business
1 answer:
Firlakuza [10]3 years ago
5 0

Answer:

The answer is "Option A"

Explanation:

In this Act, the U.S. Congress in 2002 to financing offers against the risk of corporate accounting fraud. To enhance account statements on firms as well as reduce financial crimes, its Sarbanes Oxley Act (SOX) authorized information pertinent.

  • The SOX has been introduced in the early 2000s throughout responding to its accounting irregularities.
  • The Shareholder commitment within financial reports has been shattered by controversies in everything from Enron, Tyco, and WorldCom and a rewrite in regulatory requirements.
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Willis Company had $200,000 in credit sales for 2016, and it estimated that 2% of the credit sales would not be collected. The b
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It's True because you have to deduct from the total Accounts Receivable the balance in the Cr Allowance for Uncollectible Accounts  estimated.

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7 0
3 years ago
Anderson Corporation has purchased a group of assets for $16,600.
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Answer:

C.$ 8 comma 798$8,798

Explanation:

Given,

Purchase value = $16,600

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Relative value of land = $6,500

Total relative value = 6500 + 2400 + 3400

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Using the relative value to allocate the purchased value of the land

Purchased cost of land = (6500/12300) × 16,600

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The amount that would be debited to the Land is $8,798 Option C

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