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3 years ago

A social welfare program that people can use if they meet certain eligibility requirements is called _____.

2 answers:

ioda3 years ago

3 0

It's called an entitlement

the requirements usually target low income individuals and families and created based on their level of income.

USA currently has 13 welfare programs to fight poverty and a medicaid program to provide health care for low-income individuals

devlian [24]3 years ago

3 0

It's called an entitlement

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Sarbanes-Oxley Act requires each of the following: (You may select more than one answer. Single click the box with the question

nordsb [41]

Answer: An effective Internal Control

Auditors must evaluate internal controls

Auditor's work overseen by Public Accounting Board

Explanation:

The early part of the 21st century saw shocking financially improper activities by companies such as WorldCom and Enron exposed to the world. Investor Confidence was shaken and the government needed to do something to restore it.

This was why in 2002, the US Congress passed the Sarbanes-Oxley act that aimed to ensure that the actions of those companies were never repeated.

The act requires the following;

a) An effective Internal Control

The act requires that companies enact very effective Internal controls to detect financial irregularities and even went forward to make it the responsibility of the Top Executives to ensure that this is so.

b) Auditors must Evaluate Internal Controls.

Auditors had to change their auditing strategies that were deemed inefficient. They are now required to properly evaluate in-depth, the internal controls that a company adopts to be able to give an opinion on it and they do this based on the guidelines of the Public Accounting Board.

c) Auditor's work overseen by Public Accounting Board

The Public Company Accounting Oversight Board (PCAOB) was established by the Sarbanes-Oxley Act with it's main purpose being to monitor and oversee auditors as they audit companies so that they may protect the public from false financial information. They set rules and standards that Auditors must follow and these rules in turn have to be approved by the Securities and Exchanges Commission (SEC).

3 0

4 years ago

XYZ Corporation, located in the United States, has an accounts payable obligation of ¥750 million payable in one year to a bank

tamaranim1 [39]

Answer and Explanation:

The answer is attached below

3 0

3 years ago

Farmland Corporation issued $400,000 of 10-year bonds at a discount. Prior to maturity, when the carrying value of the bonds was

Stells [14]

Answer:

Please see journal entries below

Explanation:

The entries below are made in the books of Farmland Corporation, the issuer of the bond.

Upon redemption, journal entries would be as follows.

Debit: Bond Account $396,000 (cash paid to bond investors)

Credit: Cash/Bank Account $396,000 (cash paid to bond investors)

Debit: Profit/Loss Account $8,000 (premium paid over carrying value of bond, calculated below: )

Credit: Bond Account $8,000 (premium paid over carrying value)

Premium over carrying value is calculated as follows:

Redemption value - carrying value

= $(\frac{redemption price}{carrying price} *face value) - carrying value$

= $(\frac{99}{100} *$400,000) - $388,000$

= $396,000 - $388,000

= $8,000

3 0

4 years ago

On January 22, Zentric Corporation issued for cash 342,000 shares of no-par common stock at $20. On February 14, Zentric issued

Iteru [2.4K]

Answer:

Journal Entries

January 22

Dr. Cash $6,840,000

Cr. Common stock $6,840,000

February 14

Dr. Cash $720,000

Cr. Preferred stock $720,000

August 30

Dr. Cash $2,635,000

Cr. Preferred stock $2,480,000

Cr. Paid in capital excess of par-Preferred stock $155,000

Explanation:

January 22

Common Stock = Numbers of shares issued x Issue price per share

Common Stock = 342,000 shares x $20

Common Stock = $6,840,000

February 14

Preferred stock = Numbers of preferred shares x Price per preferred share

Preferred stock = 9,000 shares x $80 per share

Preferred stock = $720,000

August 30

Cash Received = Numbers of shares x issuance price = 31,000 x $85 = $2,635,000

Cash Received = Numbers of shares x par value = 31,000 x $80 = $2,480,000

Paid in capital excess of par = $2,635,000 - $2,480,000 = $155,000

7 0

3 years ago

Use comparison operators to write a question that the database will understand. Which records contain "no"?

Stolb23 [73]

The answer is = no!

8 0

4 years ago