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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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The case suggests that by gradually increasing the price of its overengineered razors, Gillette may have reached the limit of it
Svetllana [295]

Answer:

Economic value creation

Explanation:

economic value creation within a a workplace entails tbecreation and sustainable competitive advantage that generate economic value are revenue drivers, cost drivers, and risk drivers.

5 0
3 years ago
At December 31, 2021, Moonlight Bay Resorts had the following deferred income tax items: Deferred tax asset of $102 million rela
masha68 [24]

Answer:

Moonligh Bay Resorts will report a Non-current liability of $126 million

Explanation:

The question is to determine whether Moonlight Bay Resorts is to report an asset (current or non-current) or a liability (current or non-current) in its December 31st 2021 Balance Sheet

The step is to determine the classification of the items in the balance sheet

This is done as follows

Description                                                                           Amount ($)

Total Deferred Tax liability (168 million + 120 million)        288 million

(Deferred tax liabilities related to

both current and non-current assets)

Total Deferred tax asset (102 million + 60 million)              (162 million)

The net deferred tax liability                                               126 million

Since, under the International Financial Reporting Standards Deferred Tax Liability is a Non-current liability, it means <u>Moonligh Bay Resorts will report a Non-current liability of $126 million</u>

7 0
3 years ago
Curtis invests $250,000 in a city of athens bond that pays 7% interest. alternatively, curtis could have invested the $250,000 i
Cloud [144]

I guess the correct answer is 6.48%

If Curtis invested in the Initech, Inc. bonds, The after-tax rate of return from this investment is 6.48%.

Since, [(1 - 0.28) × (250,000 × .09)]/250,000 = .0648.

3 0
3 years ago
A bank is being told that their loan portfolio is too risky. Which is the best action the bank can take to correct this situatio
balandron [24]

Answer:you would make an agreement on what the best thing to do is, which would go for a middle price, and get more money, and then go for thr other half, and if it is too risky then you could do an agreement where you would work the money off by working for them to earn more money, and then you can do the loan

Explanation:

3 0
3 years ago
Read 2 more answers
"Nanci purchases all of the assets of Michael's Security Service for $200,000. The assets are as follows: Asset Adjusted Basis F
maxonik [38]

Answer:

option (b) $35,556

Explanation:

Given:

Cost of purchase of assets = $200,000

Asset            Adjusted Basis        Fair Market Value

Inventory      $25,000                     $50,000

Equipment   $60,000                     $40,000

Supplies       $20,000                     $20,000

Building        $80,000                     $95,000

Land             $10,000                      $20,000

Total            $195,000                    $225,000

Now,

since, fair market value is greater than Basis,

Percentage FMV on Equipment =\frac{\textup{FMV for equipment}}{\textup{Total FMV}}\times100\%

⇒ Percentage FMV on Equipment = \frac{\$40,000}{\textup{225,000}}\times100\%

= 17.77%

thus,

Nanci's basis in the equipment = Percentage FMV × Assets

= 17.77% × $200,000

= $35,555.56  ≈ $35,556

Hence,

The correct answer is option (b) $35,556

6 0
3 years ago
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