All categories

4 years ago

Discuss the Sarbanes-Oxley Act 2002 and how it helps curb accounting fraud.

Business

2 answers:

BaLLatris [955]4 years ago

6 0

The Sarbanes-Oxley Act 2002 was an attempt to stop fraud and identity theft

Hope this helps

-AaronWiseIsBae

Soloha48 [4]4 years ago

4 0

The Sarbanes-Oxley Act of 2002 was used to curb accounting fraud by improving financial disclosure of corporations, and checking and fixing frauds if they were found.

hope this helps

You might be interested in

Donna works as a project manager for a major consumer products firm. she works with beliefs, perceptions, and informal obligatio

Mazyrski [523]

Janice's beliefs represent a Psychological contract.
The psychological contract is a unwritten concept that represents the relationship between an employer and an employee. It involves mutual beliefs, perceptions, informal obligations. understandings, and commitments that exist between the employer and employee.

3 0

4 years ago

True or False

alukav5142 [94]

This accusation is incorrect.

4 0

3 years ago

Read 2 more answers

Early in 20x3, Shifter, Inc. wrote put options for 1,000 shares of its common stock. Purchasers of the options can sell Shifter

OLEGan [10]

Answer: shifter discovers a loss of $3000

Explanation:

Because Shifter paid $5,000 more for the treasury stock than its fair value: 1,000 shares × ($20 − $15). The $2,000 fee (1,000 × $2) offsets that loss yielding a net loss of $3,000

7 0

3 years ago

12. When it comes to managing money, success

Deffense [45]

Answer: Option D

Explanation:

The personal finance success of the person depends on the money managing behavior rather than the knowledge. If more money is spent then the individual looses the opportunity to make investments and save for the future.

Increased spending without saving also has the risk of increased debts and increases the stress. The savings is low for many people and for the purpose of spending money they borrow money. A person who has more debts it keeps him from building assets and investments.

5 0

4 years ago

E3-27 (book/static) The Home Style Eats has two restaurants that are open 24 hours a day. Fixed costs for the two restaurants to

vazorg [7]

Answer:

Explanation:

Contribution Margin=Sales - variable cost =$8.75-$3.50=$5.25

Contribution Margin Ratio = Contribution Margin / Sales = $5.25/ $8.75=60%

Pre-Tax Net Income=Net Income/(1-tax rate)

$117,600/(1-0.36)=$183,750

Target Revenue =Fixed cost +Target Pre-Tax net Income/Contribution margin Ratio =($430,500+$183,750)/0.6=$1,023,750

2. Number of customers needed to Break Even

Fixed costs/Contribution margin per unit=$430,500/$5.25=82,000 Customers

Number of customers to earn 117,600 = (Fixed costs + 117,600)/5.25 = (430,500+117,600)/5.25 = 104,400

Sales (170,000*8.75) 1,487,500

Less: Cost of goods sold (170,000*3.50) -595,000

Contribution margin 892,500

Less: fixed costs -430,500

Net Income before tax 462,000

Less: tax rate (462,000*36%) - 166,320

Net Income after tax 295,680

3 0

3 years ago