Answer:
The answer is: a
Explanation:
In accounting for financial transactions, there are generally accepted standards used in practice. These standards are based on accounting principles that are designed to result in more consistent and comparable financial statements. One of these principles is the matching principle, where revenues recognised are matched with expenses incurred to generate that revenue.
In line with this principle, revenues should be matched with expenses at the time which the transaction, in this case the sale, occurs. An estimate of the amount receivable that is deemed noncollectable at the time of the sale is recognised as a bad debt expense and an adjustment is made in the allowance for doubtful debts account* in the period which the sale occurs.
*this account increases on the credit side and effectively reduces the accounts receivable amount
An audit client hires a member of the audit engagement team to be its new controller. Sarbanes-Oxley rules require that: The new controller sever all relations with the CPA firm, including any retirement funds.
<h3>
What is the Sarbanes-Oxley act? </h3>
- The Sarbanes-Oxley Act of 2002, a federal law, was established for sweeping auditing and financial regulations for public companies.
- Lawmakers created the legislation to assist protect shareholders, employees and therefore the public from accounting errors and fraudulent financial practices. Auditors, accountants and company officers became accountable for the new set of rules.
- These rules were amendments and additions to many laws enforced by the Securities and Exchange Commission (SEC), including the Securities and Exchange Act of 1934 and therefore the Investment Advisers Act of 1940.
- The Sarbanes-Oxley Act is enforces by SEC
To learn more about Sarbanes-Oxley Act: brainly.com/question/27915345
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Answer:
Benjamin Fisher
Insider Trading:
1. The purpose of the meeting is for:
Intensive problem solving.
2. The people that should be invited to attend the meeting should be:
5 or fewer
Explanation:
As the CEO, it is Benjamin's responsibility to call for this meeting between himself and his trusted executives. Therefore, the number of those attending should be limited to 5 or fewer. The meeting needs to be an intensive one that must iron out a solution for developing a communication strategy for handling the present situation.
The insider trading accusation can seriously damage the firm's reputation and needs to be handled with despatch.
Answer:
Explanation:
Maslow’s hierarchy of needs as represented by a pyramid depicts different stages of needs that human tend to satisfy, which forms the basis upon which behaviors of humans are motivated. The different levels of needs as proposed by Maslow in a pyramid from the bottom to the top are: physiological, safety, love and belonging, esteem, and self-actualization.
Margot’s situation reveals that the “esteem” needs are unmet. According to the Maslow, esteem needs include dignity or esteem for oneself, desire for reputation and respect from others, which is clearly seen in the case of Margot.
Answer:
The answer is <em>new product stage</em>.
Explanation:
At the introduction stage the product enters the market and the business seems to have a foothold on the sales ladder:
- Establishing the brand and assuring the market the quality of the new product.
- A policy of low prices to reach the market, although with little competition, the price may be high initially to recover development costs.
- Selection of a distribution model to bring the product to market.
- Product promotion aspiring to the specific public as online forums.