1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Rama09 [41]
2 years ago
14

Refer to Stevenson, Ross, and Warner. Which of the following represents a key component of the Sarbanes-Oxley Act relating to co

nsulting services?
Business
1 answer:
antoniya [11.8K]2 years ago
4 0

Answer:

The correct answer is B. Accounting firms are prohibited from providing many types of consulting services to the companies they audit.

Explanation:

The main reason for this policy is that it does not allow conflicts of interest to arise that eventually produce widely known cases of fraud, such as those presented at the Enron and Worldcom companies.

The Enron case broke out in the U.S. when that energy giant announced what was once the biggest bankruptcy in the history of the country, with a debt of 31,000 million dollars, something overcome a few months later by the collapse of another colossus, WorldCom.

In June 2002 WorldCom, the second US telephone. and of the world, he admitted that he had lied in his accounting books for almost 4,000 million dollars and his actions - which shortly before touched his maximum of 16 dollars - collapsed to 20 cents. His bankruptcy exceeded Enron's: $ 35 billion of liabilities.

You might be interested in
Pablo management has ten part-time employees, each of whom earns $145 per day. they are normally paid on fridays for work comple
kvv77 [185]

Explanation:

December 31, 2016: To record accrued wages for one day (10 workers × $145) = $1,450.

January 4, 2017: To record accrued and current wages.

Wages expense = 10 workers × 3 days × $145 = $4,350

Cash = 10 workers × 4 days × $145 = $5,800.

See attached photo.

4 0
3 years ago
Barney decides to quit his job as a corporate accountant, which pays $10,000 a month, and goes into business for himself as a ce
Yuliya22 [10]

Answer:

A. $125

(Supplies + Electricity)

B. $10,300

(Salary lost + Rent amount lost)

C. $10,425

(Add them together)

4 0
3 years ago
Lightwire Co. made the decision a decade ago to make the copper wires it needs for its products in house rather than outsourcing
sineoko [7]

Answer: <em>Option (A) is correct</em>

Explanation:

Here in the given case, in the context of supply change, the corporation did go wrong on part of adaptability. Adaptability is known as a feature of a process or of a system. This term has been utilized in several different discipline and organization operations. According to Gronau and Andresen, adaptability in organizational management can be referred to as ability to bring changes to oneself or something in order to fit the changes occurring.

3 0
3 years ago
According to the​ Break-Even EBIT​ analysis, shareholders are​ ____ off with debt when EBIT is​ _____ the​ Break-Even EBIT level
Kobotan [32]

Answer:

Answer B.

Explanation:

EBIT break even point is a situation when company does not make a profit or has loss. It is a point where earnings per share are equal to zero. It is the level of ebit equal to fixed costs for the company, like interest on the debt. If this break even point increases, this leads to the increase of financial risk. However, increase of ebit above break even point leads to net income calculated as EBIT*(1-interest expense)*(1-tax rate)-preferred dividends being higher.

3 0
2 years ago
Williamsburg Markets has an operating cash flow of $4,267 and depreciation of $1,611. Current assets decreased by $1,356 while c
kap26 [50]

To calculate free cash flow, locate the income statement and balance sheet. Start with net income and add back charges for depreciation and amortization. Make an additional adjustment for changes in working capital, which is done by subtracting current liabilities from current assets. Then subtract capital expenditure (or spending on plants and equipment)

6 0
3 years ago
Other questions:
  • While other suppliers bidding for the contract brought bids with lower per unit costs, Orchard wanted to take delivery based on
    8·2 answers
  • The case of Fujitsu Ltd. v. Federal Express Corp. had to do with whether:
    5·1 answer
  • (Chemical Manufacturing) A chemical manufacturer produces a certain chemical compound every Sunday, which it then sells to its c
    14·1 answer
  • If the investment demand curve is vertical, a decrease in the interest rate will __________ investment, and therefore aggregate
    8·1 answer
  • Duke is a particularly highly skilled negotiator. the law firm that hires duke is able to collect twice as much revenue per hour
    8·1 answer
  • A comparative financial statement:
    12·1 answer
  • Willy makes proper use of the wiki feature on the company intranet when he ________. science forums
    6·1 answer
  • Jamie is single. In 2020, she reported $108,000 of taxable income, including a long-term capital gain of $5,800. What is her gro
    6·1 answer
  • A measure of social class that is based on income, wealth, prestige and power is called? a. socioeconomic status. b. esteem. c.
    6·1 answer
  • Derek, a single taxpayer, has agi of $55,200 which includes $5,000 of qualified dividends. derek does not itemize deductions. wh
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!