Answer:
Section 16(b) of the 1934 Securities Exchange Act provides for recapture by the corporation of all profits realized by an insider from the purchase or sale of corporate stock within a 6 month period.
Explanation:
This section of the 1934 Securities Exchange Act was put in place to uphold fairness and equity in the financial markets. Without its provision, insiders could advantage of privileged information and exploit it for personal gain.
Answer:1.
1. Key conditions for the company to be "auditable" :
<u>- Transparency in the company's financial statements </u>
Meaning the company should let the auditors acess the full financial information taht written by the company, without any information to hide.
<u>- The company's control environment </u>
This mean that the company should be able to inform the set of procedures that it implemented for the operation
<u>- Management is aware of possible risks and are following steps to minimize the risks ethically</u>
This means that the management shouldn't overblown their expense to increase their deductible or overblown their asset value to obtain investors.
<u> - Good communication between the auditors and the management</u>
<u>2.</u> What uncommon challenges to "auditability" are posed by Chinese companies?
Unlike united states government, the Chinese government tend to have a really strong influence within the private sector. It has a significant amount of ownership toward chinese largest corpration.
This make it really hard for auditors because those companies often required by the government not to spill crucial information of the company. That information might compromise the Chinese government.
Answer:
The equivalent units produced is 7320
Explanation:
To get the units produced in this period we ignore the beginning inventory, we just add new transferred out +ending inventory
- 7,000 units were transferred out
- Al the end , we have 800 at 40%= 320
Adding the 3 items
UP=7000+320=7320
Answer:
188,000 units
Explanation:
For computing the equivalent units for material cost, first we have to compute the transferred units which is shown below:
= Beginning finished good inventory units + units started and completed units
= 31,000 units + 130,000 units
= 161,000 units
Now the equivalent units for material costs equal to
= Transferred units × percentage of completion + additional units in process × percentage of completion
= 161,000 units × 100% + 27,000 units ×60%
= 161,000 units + 27,000 units
= 188,000 units
<span>The budgeting process requires significant coordination among the company's various business segments. Budgeting requires all aspects of a business to come together and make decisions. The decisions need to be made together because the company will usually have an overall budget as a whole but then the individual sections will also have a budget. When they work together if one department needs more money they are able to allocate resources and shift money around easier. </span>
