Answer:
A) 20
Explanation:
According to section 802 of the Sarbanes-Oxley Act, the maximum imprisonment for making any misleading financial statement that can change the user's decisions is 20 years.
It includes various things like - false entry, destroyed things or does not contain any true statement of financial data that can affect the federal investigation have the right to given the fine or ready for up to 20 years imprisonment.
If any condition arise, then the person should be fined or up to 20 years imprisonment or both
Answer:
2017 Net Income = $53000
2018 Net Income = $87000
Explanation:
The overstatement of ending/closing inventory causes the Cost of Goods Sold (COGS) to be understated and the Gross and Net profit to be overstated by the same amount.
If the 2017 ending inventory was iverstated by $7000, the correct profit figure for 2017 will be $7000 less than is reported.
2017 correct Net Income = 60000 - 7000 = $53000
An overstatment of ending inventory in one year also means and overstatement of opening inventory of the next year. Thus, the 2018 opening inventory is overstated by $8000 and an overstatement of opening inventory means an overstatement of COGS and an understatement of Gross and Net Income by the same amount.
Thus, the correct Net Income for 2018 = 80000 + 7000 = $87000
Answer: B. During a period of economic growth and in an optimistic environment, the yield spread between US government bonds and corporate bonds could be higher than during an economic recession and a pessimistic environment
Answer:
<u>Expectancy theory</u>
Explanation:
Vroom's expectancy theory of motivation is based upon the fact that employees will be motivated to achieve their targets and goals only when they know, doing so would lead to prospect of earning rewards and incentives.
Vroom related employee performance with various factors such as their skills, demeanor, knowledge and personal experiences.
The rewards and incentives serve as a driving force to an employee's performance and efficiency.
Expectancy refers to a belief that increased performance and hard work leads to better efficiency.
An employee chooses from available set of alternatives with a purpose to maximize his/her pleasure and comfort undergoing minimum pain.
In the given case, the company rewards their top performing individuals by letting them devise their rewards so as to serve as means to employee motivation as well as those rewards being valued by them. The company uses expectancy theory of motivation.
Answer:
Cash 291000 Dr
Factoring fees expense 9000 Dr
Accounts Receivables 300000 Cr
Explanation:
The factoring charge or fess is an expense for Laurel Company for the service provided by Hardy factors. So, whenever factoring is done, the ffactoring fees expense account will be debited as expense will increase. Th cash received is 300000 * 0.97 = 291000
The factoring fees is 300000*0.03 = 9000
As a result all of the accounts receivables will be credited from the books.