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
IrinaVladis [17]
2 years ago
8

In response to accounting scandals and the collapse of Enron at the turn of the century, the U.S. Congress passed the Sarbanes-O

xley Act to establish a system of federal oversight of corporate accounting practices. The purpose of the law is to hold CEOs accountable in matters of financial reporting, and to ensure the truthfulness of statements offered to investors. Despite the law's good intentions, businesses must now spend millions of dollars each year just to comply with the regulations. However, the steep challenges of compliance have created a boom in new accounting firms that specialize in helping companies meet the law's requirements.Answer the multiple choice questions that follow the video content.Congress passed Sarbanes-Oxley into law as a response to:a. Globalization b. Financial scandals and corporate fraud c. Consumer protection violations d. Executive CEO pay How does Sarbanes-Oxley attempt to improve business ethics?a. By regulating executive retirement plans b. By legally requiring companies to certify the truth of their statements to investors c. By enacting legal protections against discrimination d. By offering suggestions for how companies might be more transparent Which aspect of Sarbanes-Oxley has created severe difficulties for businesses?
a. The law's whistle-blower protections
b. The creation of the Public Company Accounting Oversight Board c
. The law's aim to hold CEOs accountable
d. The cost and difficulties of compliance
Business
1 answer:
Klio2033 [76]2 years ago
5 0

Answer:

  1. b. Financial scandals and corporate fraud.
  2. b. By legally requiring companies to certify the truth of their statements to investors.
  3. d. The cost and difficulties of compliance.

Explanation:

After the U.S. was rocked by the financial scandals and corporate fraud of companies like Enron and WorldCom, the U.S. Congress enacted the Sarbanes-Oxley Act to mitigate the risk of such ever occurring again.

The Act involves making the management personally liable for the accuracy of the statements by legally requiring companies to certify the truth in their statements to their investors.

While this seems easy enough, it requires a lot of information gathering which has left companies paying millions to comply.

You might be interested in
If Amazon enters the Japanese online market by translating its U.S. website into Japanese the company is using which internation
Nina [5.8K]

If Amazon enters the Japanese online market by translating its U.S. website into Japanese, the strategy used is the meganational strategy.

A meganational strategy is an international strategy that focuses on reaping cost reductions through the economies of scale. It's a strategy that's used in seeing the world as one big national market.

Since Amazon enters the Japanese online market by translating its U.S. website into Japanese, then the strategy that is used is the meganational strategy.

Read related link on:

brainly.com/question/19505671

5 0
2 years ago
During the current year, the company purchased equipment for $212,000 on October 1. It is estimated the equipment will have a us
qwelly [4]

Answer:

$6250

$5000

$5250

Explanation:

Straight line depreciation expense = (Cost of asset - Salvage value) / useful life

($212,000 - $12,000) / 8 = $25,000

The machine was used for only 3 months in the fiscal year. Thus, the depreciation expense = $25,000 x (3/12) = $6250

Activity method based on output = (output produced that year / total output of the machine) x (Cost of asset - Salvage value)

(1000 / 40,000) x ($212,000 - $12,000) = $5000

Activity method based on hours worked = (hours worked that year / total hours of the machine) x  (Cost of asset - Salvage value)

($212,000 - $12,000) x (525 / 20,0000)  = $5250

7 0
3 years ago
Does any body know how to speed up the process of finding answers
Ivan

Answer:

Hi

Explanation:

it honestly depends try reloading or refreshing or poking on other sites that LOOK APPROPRIATE

5 0
2 years ago
A detailed search of the _______ must be done to determine if the manufacturer has found the customer’s concern in other vehicle
fiasKO [112]
<span>A detailed search of the A. TSB must be done to determine if the manufacturer has found the customer’s concern in other vehicles of the same type, or if the vehicle in question is being recalled for this or other concerns.

</span><span>Manufacturers issue technical service bulletins (TSBs) to provide information to technicians on unexpected problems, updated parts, or changes to repair procedures that may occur with a particular vehicle system, part, or component.</span>
7 0
3 years ago
Read 2 more answers
In two or three sentences, describe the labor market.
Gelneren [198K]
I think the labor market is the nominal market in which workers find paying work, employers find willing workers, and wage rates are determined. 
3 0
3 years ago
Read 2 more answers
Other questions:
  • Which of the following is likely to be the most valid source of information about pollution? a. a website supported by manufactu
    15·2 answers
  • On January 1, Witt Company has a beginning cash balance of $126,000. During the year, the company expects cash disbursements of
    8·1 answer
  • What types of information does a W-2 form contain? Check all that apply
    15·1 answer
  • A general rule to help detect pseudoscience is to: a. be highly skeptical of scientific assertions that rely on vague evidence.
    13·1 answer
  • Economists who asset that the AS curve is vertical believe that changes in Real GDP originate only on the _____________of the ec
    9·1 answer
  • Bob, age 17, has entered into a contract to buy a car. The contract is: a. voidable. b. void. c. voidable only if Bob can return
    7·1 answer
  • LeMay Department Store uses the retail inventory method to estimate ending inventory for its monthly financial statements. The f
    11·1 answer
  • Joy and her manager agreed in January that in order to be ready to take on a new group project in June, Joy should complete a cl
    14·1 answer
  • when your colleague says, "i’ll go along with whatever is best for you" she is showing what interpersonal conflict management st
    7·1 answer
  • Shania offers to sell her lakefront property to Tonya for $150,000, and Tonya agrees to buy it. Tonya and Shania both sign the r
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!