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Akimi4 [234]
3 years ago
8

Sarbanes-Oxley does not require:

Business
1 answer:
Novosadov [1.4K]3 years ago
5 0

Answer:

B) companies to turn over responsibility for establishing and maintaining internal controls for financial reporting to auditors.

Explanation:

Sarbanes- Oxley is popularly called SOX and  which is also know as the ''Public Accounting Reform and Investor Protection Act'' in the United States' Senate and ''Corporate and Auditing Accountability, Responsibility and Transparency Act'' is a USA federal law the sets out new regulations for all U.S public company boards, management and public accounting firms. Some part of the Act makes provisions that apply to privately owned companies.

The Sarbanes-Oxley is named after the bill sponsors that is Senator Sarbanes and a U.S Representative known as Micheal G. Oxley and this bill makes sure that the top management of a company must each individually determine and certify the accuracy of all financial information provided or stated. This bill was enacted in 2002 to curb a number of major corporate accounting scandals, especially those affecting big accounting firms like ;  Enron, Tyco International, Adelphia, Peregrine Systems, and WorldCom that cost investors to loose a lot of money when the their shares collapsed.

As a guiding principal companies and organizations are supposed to adhere to the options mentioned above except for option B which states:  companies to turn over responsibility for establishing and maintaining internal controls for financial reporting to auditors.

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Bill wants to give Maria a $630,000 gift in 3 years. If money is worth 6% compounded semiannually, what is Maria's gift worth to
olga_2 [115]

Answer:

$527,615.08

Explanation:

The formula that describes the present value of an investment compounded semiannually is:

PV = \frac{FV}{(1+\frac{r}{2}^{(2*t)})}

For a future value of $630,000 obtained at a 6% annual rate for 3 years, the present value is:

PV = \frac{630,000}{(1+\frac{6}{2}^{(2*3)})}\\PV=\$527,615.08

Maria's gift is worth $527,615.08 today.

5 0
3 years ago
Handmade Soaps Company had operating expenses of $52,000. At the beginning of the year, Handmade Soaps owed $15,000 on accrued l
Softa [21]

Answer:

Cash Paid = $62000

Explanation:

To calculate the amount of cash paid by the business for operating expenses during the year, we use the following equation.

Cash Paid = Opening Accrued liability + Operating expenses for the year - Closing Accrued Liability

By plugging in the values for opening accrued liabilities, operating expenses for the year and closing accrued liabilities in the above formula, we can calculate the amount of cash paid for operating expenses.

Cash Paid = 15000 + 52000 - 5000

Cash Paid = $62000

3 0
2 years ago
A company pays its employees $3,850 each Friday, which amounts to $770 per day for the five-day workweek that begins on Monday.
liq [111]

Answer:

$3080

Explanation:

Calculation to determine what the amount of salaries earned but unpaid at the end of the accounting period is:

Salaries earned but unpaid at the end of the accounting period =3850-$770

Salaries earned but unpaid at the end of the accounting period =$3080

3 0
2 years ago
On january 1, 2013, a company sold a piece of equipment for $30,000 which it had used for several years. the equipment had cost
Tema [17]
Book value on the date of disposal
Cost of the equipment - accumulated depreciation
45000-20000=25000

Gain on disposal of the equipment
Proceeds from sales - book value on the date of disposal
30000-25000=5000

The amount of gain on disposal (5000) is reported under “Other revenues and
gains” section of the income statement which increase the profit which transferred into shareholders equity. Also, the account of the equipment will be zero

So the answer is d

Hope it helps!
3 0
2 years ago
Methods analysis is particularly valuable when it is used on jobs that: (I) are high in labor content. (II) are done frequently.
ycow [4]

Answer:

B. I, II, and IV only

Explanation:

Job specialization can be defined as a strategic process which typically involves the ability of employees working in an organization to develop specific skills, knowledge, great expertise or professionalism and experience to perform their duties, tasks or job functions effectively and efficiently.

In order to gain the requisite skills, expertise and knowledge for job specialization, it is very important for the employees to have undergone an extensive training and a good number of years in work experience.

The primary purpose of job specialization is to increase efficiency and productivity because the employees are able to specialize in the use of specific tools (equipments) to accomplish their tasks, as well as limit the level of error or mistakes in the production process.

In Business management, method analysis can be defined as the study of the detailed process for the performance of a job i.e how a job is done. Thus, method analysis gives a detailed report on the tasks involved in the performance of a job and how they are to be done.

Basically, methods analysis is particularly valuable when it is used on jobs that:

1. Are high in labor content.

2. Are done frequently.

3. Are unsafe, tiring, unpleasant, and/or noisy.

3 0
2 years ago
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