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which organization issues auditing standards, carries out inspections of public accounting firms auditing us public clients, and

Butoxors [25]

The Public Company Accounting Oversight Board (PCAOB) issues auditing standards, carries out inspections of public accounting firms auditing public clients, and imposes sanctions.

<h3>What are sanctions?</h3>

Economic sanctions are financial and commercial penalties imposed by one or more nations against a particular self-governing state, group, or person.
Economic sanctions may be used for a number of political, military, and social reasons in addition to difficult economic conditions.

<h3> What is The Public Company Accounting Oversight Board (PCAOB)?</h3>

The Sarbanes-Oxley Act of 2002 established the Public Company Accounting Oversight Board (PCAOB), a nonprofit organization, to supervise the audits of public companies and other issuers in order to safeguard investor interests and advance the public interest in the creation of informative, accurate, and independent audit reports.
In order to protect investors, the PCAOB also controls the audits of broker-dealers, including compliance reports submitted in accordance with federal securities laws.
The U.S. Securities and Exchange Commission must approve all PCAOB regulations and standards (SEC).

Therefore, the Public Company Accounting Oversight Board (PCAOB) issues auditing standards, carries out inspections of public accounting firms auditing public clients, and imposes sanctions.

Know more about nonprofit organizations here:

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7 0

2 years ago

Branch Corporation issued $5 million of commercial paper on March 1 on a nine-month note. Interest was discounted at issuance at

defon

Answer:

Journal Entry

March 1

Dr. Cash $4,550,000

Dr. Discount on Note Payable $450,000

Cr. Note payable $5,000,000

December 1

Dr. Interest Expense $450,000

Cr. Discount on Note Payable $450,000

Dr. Note payable $5,000,000

Cr. Cash $5,000,000

Explanation:

Note payable is document which is payable after a specific period of time.

Note Payable is recorded at the present value of the note face value. We need to discount the face value of the note first.

Interest on the bond = $5,000,000 x 12% x 9/12 = $450,000

On December 31 Interest expense will be recorded and Payment of Note is made.

8 0

3 years ago

If actions of the chinese government caused a shortage of domestic currency, then the exchange rate would be

irinina [24]

this will reduce the supply of china's domestic currency which would <u>contract the supply curve of the domestic currency (of china)</u> thus would <u>create demand</u> and thus <u>increasing the exchange rate in comparison to foreign currencies</u> thus leading to <u>appreciation of china's domestic currency in relation to foreign currencies.</u>

4 0

3 years ago

Cost data for Johnstone Manufacturing Company for the month ended March 31 are as follows: Inventories March 1 March 31 Material

snow_lady [41]

Answer:

cost of goods manufactured= $730,920

Explanation:

Giving the following information:

Materials $167,500 $149,080

Work in process 112,230 99,880

Direct labor $301,500

Materials purchased during March 321,600

Factory overhead incurred during March:

Indirect labor 32,160

Machinery depreciation 19,430

Heat, light, and power 6,700

Supplies 5,360

Property taxes 4,690

Miscellaneous costs 8,710

Total overhead= $77,050

<u>To calculate the cost of goods manufactured, we need to use the following formula:</u>

<u></u>

cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP

cost of goods manufactured= 112,230 + (167,500 + 321,600 - 149,080) + 301,500 + 77,050 - 99,880

cost of goods manufactured= $730,920

4 0

4 years ago

The market demand curve Group of answer choices is found by vertically adding the individual demand curves. slopes upward. repre

Aleonysh [2.5K]

Answer:

represents the sum of the quantities demanded by all the buyers at each price of the good.

Explanation:

The market demand curve is the total of all the individual demand curves in the market as mentioned. It depicts the quantity demanded with respect to the different prices

And in this the quantity demanded and the price of a product has an inverse relationship between each other

Therefore the last option is correct

8 0

3 years ago