The Sarbanes Oxley act is related to the reform of corporate financial reporting and the accounting profession. This act is also known as SOX.
What are the Key provisions of SOX?
Following are key provisions of SOX:
certify the accuracy of their company's financial statements by the corporate executive.through assessing internal controls to prevent wrong, misleading, or fraudulent financial data.There are criminal penalties for misleading shareholders and altering documents to impede an investigation.Thus, the SOX act is related to the reforms for corporate financial reporting and the accounting profession.
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An organization of high school seniors performs services for patients at Leer Hospital. These students are volunteers and perform services that the hospital would not otherwise provide, such as wheeling patients in the park and reading to patients. Leer spent $1,500 on a recognition banquet and awards for these volunteers. Leer has no employer-employee relationship with these volunteers, who donated 4,000 hours of service to Leer during the year. At the minimum wage rate, these services would amount to $20,600, while it is estimated that the fair value of these services was $25,000. In Leer's statement of activities, what amount should be reported for donated services
"An organization of high school seniors performs services for patients at Leer Hospital."The amount that should be reported for donated services is 0$. This is further explained below.
What have donated services?Generally, donated services are simply defined as Contributed premises, advantageous financial agreements, or donated services are all ways in which a nonprofit might benefit from the generosity of others.
In conclusion, free labor, A unique collection of abilities is required, and we were going to buy it anyhow.
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Type the correct answer in the box. Spell all words correctly. Rachel initiated the practice of company visits as part of reaching out to her company’s loyal customers . She set up a campaign that invited people to send in their experiences with her company’s product. Everyone who sent in their experiences would win a chance to visit the company and learn about the processes involved in the making of the product. Which CSR concept has Rachel displayed here?
Rachel has displayed the concept ____of CSR.
Answer:
uhhh good luck u got this
Explanation:
Answer:
The answer is: Transparency
Explanation:
I got it right on Edmentum.
M and M, Inc. produces a product that has a variable cost of $4.20 per unit. The company's fixed costs are $45,600. The product is sold for $8 per unit and the company desires to earn a target profit of $11,400. What is the amount of sales that will be necessary to earn the desired profit
The amount of sales that will be necessary to earn the desired profit is $120,000.
What is desired profit?Desired profit refers to the amount of the profit expected by the company which is estimated by them as per the sales of the company. The sales are also estimated and the company makes the budget of it.
To calculate the desired sale we need to calculate the contribution which is calculated as follows:-
Contribution margin per unit = (Selling price per unit - Variable costs per unit)
Contribution margin per unit = ($8 per unit - $4.20 per unit) = 3.80 per unit
Break-even point in units = (Fixed costs + Desired profit) ÷ Contribution margin per unit
Break-even point in units = ($45,600 + $11,400) ÷ 3.80 per unit = 15,000 units
Break-even point in dollars = Break-even point in units × Selling price per unit
Break-even point in dollars = 15,000 units × $8 = $120,000
Thus the desired sales is $120,000.
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Which of the following is an example of a GAAP standard?
Ensuring financial statements are accurate and complete
Ensuring products meet all quality standards
Ensuring the company makes a profit
Ensuring the safety of all employees
Answer:
A. Ensuring financial statements are accurate and complete
Explanation:
GAAP stipulates how to file income statements, what financial periods to include, and how to report cash flow.
The example of a GAAP (Generally Accepted Accounting Principles) standard is: Ensuring financial statements are accurate and complete.
GAAP refers to the standardized guidelines and principles that govern the preparation and presentation of financial statements by companies. Ensuring that financial statements are accurate and complete is a fundamental GAAP principle.
It involves accurately recording financial transactions, adhering to proper accounting methods, and presenting financial information in a transparent and consistent manner. This helps provide reliable and comparable financial information to stakeholders, such as investors, creditors, and regulators, facilitating better decision-making and assessing the financial health of a company.
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The great thing about IRAs is that you can withdraw money anytime you want, with no financial penalty. True False
The great thing about IRAs is that you can withdraw money anytime you want with no financial penalty is a false statement.
What is IRA?An individual retirement account refers to a savings account with tax advantages that individuals can open to save and invest in the long term.
The great thing about IRAs is that you can withdraw money anytime you want, with no financial penalty is a false statement.
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A legal agreement that clarifies the terms and conditions under which labor and management will operate over a period of time is a(n) ______. Multiple select question. arbitration decision labor contract negotiated labor-management agreement grievance
Answer:
Labor contract and negotiated labor-management agreement
Managers use a ______ strategy to distinguish their products from those of their competitors by focusing on characteristics such as design, quality, and after-sale service.
Answer:
This is product differentiation
Explanation:
I'm just a smart guy
A competitive firm maximizes profit by choosing the quantity at which.
Profit maximization can be achieved by a competitive corporation by choosing a quantity of output such that marginal revenue equals marginal cost.
How does a corporation maximize its profit?A corporation maximizes income via way of means of operating wherein marginal revenue equals marginal price. The corporation chooses quantity in order for that rate to equal marginal value so that it can maximize its profit.
Therefore, When the marginal revenue for an aggressive corporation equals the market rate, the firm maximizes its profit.
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Assuming that VMD MIC competitors have an accurate costing system, what are the characteristics of jobs (services) that VMD MIC is likely to win vs. lose to their competitors
The characteristics of jobs that VMD MIC is likely to win is the goodwill from existing customers. while the competitors will have a higher market share because of effective pricing.
What is an accurate costing system?This is a costing system that allows managers to measure profit so that they can make the best decisions for the company's future.
Hence, the accurate costing system is effective for managing pricing and profitability effectively.
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What is the purpose of a warranty?
A. to protect manufacturers from consumers
B. to refund your money if you are dissatisfied with a purchase
C. to repair or replace a defective purchase or item
D. to make businesses follow laws
The correct option is C. The purpose of a warranty is to repair or replace a defective purchase or item. A warranty is the written assurance of a product's or service's quality as given to a consumer by the manufacturer or service provider. Insofar as the warranty's provisions stipulate, warranties offer clients legally guaranteed service replacement or issue a correction for the period of the warranty.
What is the difference between a guarantee and a warranty?The primary distinction between a guarantee and a warranty is that the former is normally cost-free while the latter typically charges a fee for the coverage. The beautiful thing about a guarantee is that it strengthens your legal rights under consumer law and is legally enforceable.
A warranty is a seller's promise that they will fix or replace defective goods within a set period. A guarantee is a seller's assurance that a product will satisfy particular performance or quality requirements. If not, a repair or replacement will be made.
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the effects of the hard lockdown on Eskom
Answer:
comitees in parliament had to leave officials in Pretoria, electricity demand was high...
Select all that apply
Which of the following are examples of resources?
A.An oven used to bake bread at a bakery
B.Workers hired to pick grapes at a vineyard.
C.A new technology improving the production process for tractors.
D.Social Security payments made to retired workers.
Answer:
A. An oven used to bake bread at a bakery
B. Workers hired to pick grapes at a vineyard
A resource is something a business needs for its production. A and B both directly benefit production while C indirectly benefits it and D has no impact.
Note: Answer C is a technological resource but it indirectly affects production. Most people do not include it as a resource but occasionally some do.
Among all the given examples, the best examples of resources are:
An oven used to bake bread at a bakery
Workers are hired to pick grapes at a vineyard.
Hence, Options A and B are correct.
What are resources?There are various things present in the world that are available for the use of humans. The role of these things is to make the work of humans easy and at the same time provide support to humans.
The term that is used to denote these things is "resources." All a person has to do is ensure that all available resources are used to their full potential.
There are various natural as well as man-made resources available that can be used by humans. Some of the examples of resources are food, water, oil, coal, natural gas, metals, and many more.
Thus, Options A and B are correct.
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The IRR Blank______ to distinguish between investing or financing. Multiple choice question. is able is unable
The IRR Blank capital to distinguish between investing or financing. Hence, the answer is capital. Read below about IRR Blank Capital.
What is IRR rule?The IRR rule is a template for evaluating whether to progress with a project or investment. The IRR rule states that if the IRR on a project or investment is higher than the minimum RRR—basically the cost of capital, then the project or investment can be pursued.
Therefore, the correct answer is IRR capital.
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2
Select the correct answer from the drop-down menu.
Which type of college credit program does the statement describe?
The
✓program is one of the more common ways to get college credit in high school. It includes an exam
that you must take at the end of the course.
Explanation:
The
✓program is one of the more common ways to get college credit in high school.
*PLEASE HELP ME!*
Sara could practice her guitar or complete her calculus homework. She does not really want to practice her guitar but does so anyway, what is her trade-off?
practicing her guitar
completing her calculus homework
the time it took her to practice guitar.
practicing her guitar and doing her calculus homework
Answer:
C
Explanation:
Costs such as transportation-out, sales commissions, uncollectible accounts receivable, and advertising costs are sometimes called: multiple choice downstream costs. indirect costs. upstream costs. direct costs.
Costs such as transportation-out, sales commissions etc. are sometimes called the direct costs.
What is the direct cost?Direct cost is the cost, that is directly linked with the production of goods or services.
Direct cost mainly consists of the direct labor, direct material, commissions etc.
Direct cost is incurred by the business in the making of a product or service
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True or false: Some projects, such as mines, have cash outflows followed by cash inflows, which are then followed by cash outflows, giving the project multiple rates of return.
"Some projects, such as mines, have cash outflows followed by cash inflows....giving the project multiple rates of return." this statement is true. This is further explained below.
What is cash flow?Generally, inflows and outflows of cash, particularly as it relates to liquidity.
In conclusion, It is possible to have multiple internal rates of return if future cash flows are both positive and negative.
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A primary challenge for marketers in discovering the needs of prospective customers is that.
A primary challenge for marketers in discovering the needs of prospective customers is that customers may not know or be able to describe what they need and want.
What is need?Needs refers to necessity. It is what people cannot do without having them hence important for human survival where as want is what people desired and not really mandatory for them to have it
Hence, a primary challenge for marketers in discovering the needs of prospective customers is that customers may not know or be able to describe what they need and want.
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A prepayment that is originally recorded as an asset will be ______.
Blue fin started the current year with assets of $716,000, liabilities of $358,000 and common stock of $216,000. during the current year, assets increased by $416,000, liabilities decreased by $58,000 and common stock increased by $291,000. there was no payment of dividends to owners during the year. what was the amount of blue fin's change in total stockholders' equity during the year
The amount of blue fin's change in total stockholders' equity during the year is: $474,000.
Change in total stockholders' equityChange in Assets = Change in Liabilities + Change in Stockholders' Equity
Change in Stockholders' Equity = Change in Assets − Change in Liabilities
Change in Stockholders' Equity = $416,000 − ($58,000)
Change in Stockholders' Equity =$416,000 + $58,000
Change in Stockholders' Equity = $474,000
Therefore the amount of blue fin's change in total stockholders' equity during the year is: $474,000.
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As a new leader you have decided to apply the path-goal theory in managing your staff. one of the two important personal characteristics of subordinates in this theory is locus of control. what is the other important personal characteristic that you should consider
A subordinate should have the ability to manage the organization's workforce as a leader. The subordinates' impression of their talents is an important personal quality.
What is the path-goal leadership theory?
According to the path-goal theory, a leader's conduct is influenced by their employees' satisfaction, motivation, and performance. The manager's task is considered as improving employees ’ performance in choosing the best pathways to achieve both their own and the company's goal.
Inclusive leaders, follower traits, task characteristics, and motivation is all aspects of the path-goal theory
As a result, the two most important personal characteristics of subordinates in the theory. for example locus of control and abilities perception.
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Select the question that can be answered using only raw data. Multiple choice question. Which of the perishable items used by a restaurant should be ordered first? What is the lowest sales per week compared with the economic interest rates? What is the date, amount sold, and customer number for a sale transaction?
The question that can be answered using only raw data is C. What is the date, amount sold, and customer number for a sale transaction?
What is raw data?Raw data refers to data that has not been processed for use.
For example, unlike the perishable items to be ordered first or the lowest sales per week data, the data on the date, amount sold, and customer number for a sale transaction remain unprocessed and therefore raw.
Thus, the question that can be answered using only raw data is C. What is the date, amount sold, and customer number for a sale transaction?
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negative and positive impact of monopolies in south Africa
The positive impacts of monopoly in South Africa are related to the advantages of companies, which charge higher prices and generate economies of scale.
The disadvantages are related to the consumer, who pays higher prices since in a monopolistic market there are no more alternatives to obtain a good or service.
What is monopoly?It is a market situation where there are no competitors, with a company being the only one to sell a product or service, being the holder of the price and market power.
Therefore, a monopoly situation can be harmful to a country, leading to barriers to entry by competitors, reduced purchasing power of individuals and price exploration.
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Marianne was a computer programmer making almost $170,000 a year at a rate of $80 an hour for Big Tech. Ginger, her boss, demanded that she work 100 hours of overtime over the next month until a large project was complete. Marianne believes she is entitled to 100 hours of overtime pay. Under the Fair Labor Standards Act, how much overtime pay is she entitled to
Under the Fair Labor Standards Act, Marianne is entitled to $12,000 for overtime pay.
What is the overtime rate under the Fair Labor Standards Act?Under the Fair Labor Standards Act, the overtime rate is a time and a half.
Data and Calculations:Annual salary = $170,000
Rate per hour = $80
Overtime rate per hour = $120 ($80 x 1.5)
Overtime hours = 100 hours
Overtime pay = $12,000 (100 x $80 x 1.5)
Thus, under the Fair Labor Standards Act, Marianne is entitled to $12,000 for overtime pay.
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HELP ASAP
1. Define ethics and norms. Provide an example to illustrate how ethics and norms are related.
2. Explain the relationship between personal ethics and business ethics. How are they the same? How are they different? What role should ethics play in business decision-making?
3. Describe the role of ethics in customer relationship management.
4. What is the reason for creating a code of conduct? How is it related to a code of ethics? Provide an example of a behavior that might be addressed in a company’s code of conduct, and explain how the code aligns with specific company values.
5. How does globalization pose ethical challenges to business operations? Provide an example of the benefits of globalization and then a corresponding example explaining the problems with it. Be sure to describe who is benefitting in each of your examples.
Nighthawk theaters has 15,000 shares of stock outstanding and projected annual free cash flows of $48,200, $57,900, $71,300, and $72,500 for the next four years, respectively. after that, the cash flows are expected to increase at a constant annual rate of 1.6 percent. what is the current value per share of stock at a discount rate of 15.4 percent?
The current value per share of stock is $31.57.
What is the current value per share ?The two-stage dividend model would be used to determine the current value per share of the stock. In the two-stage dividend growth model, the first stage is characterised by high growth rate. In the second stage, the high growth rate falls to a steady or normal growth rate
Total cash flows in the second stage of constant growth: (72,500 x 1.016) / (0.154 - 0.016) = 533,768.12
Now determine the present value of the cash flows:
($48,200 / 1.154) + ($57,900 + 1/154²) + $71,300/ 1.154³ + ($72,500 / 1.154^4) + (533,768.12 / 1.154^4) = $473,495.26
Current value per share = $473,495.26 / 15,000 = $31.57
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A strong performing manager with 30 years of service is discovered taking a soda from the cafeteria each afternoon without paying for it. They are warned that continuing this behavior could lead to termination, but they continue taking sodas from the cafeteria. What action would you take
The action to be taken will be to issue another warning to the manager and tell him that he will be terminated if his behavior continues.
What is the notice issue meant for?It is to serve as a caution and warning to the manager on the unwanted behavior at the cafeteria.
Therefore, the action to be taken will be to issue another warning to the manager and tell him that he will be terminated if his behavior continues.
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What is one way that students can develop managerial skills.
a.making a schedule for a debate team
b.taking notes in social studies class
c.telling a friend
One of the ways students can develop managerial skills is by making a schedule for a debate team.
How can managerial skills be developed?Managerial skills comprises the know-how, knowledge and skill needed to coordinate or manage a group of people.
One of the ways that managerial skills can be acquired is by studying management course. For example, human resource management. Another way of acquiring managerial skills is by undertaking managerial roles.
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If a company is in new york city, and a qualified applicant lives across the country in california, what would be the most cost effective interview format to use? a. distance interview b. performance interview c. group interview d. behavioral interview please select the best answer from the choices provided a b c d
Answer:
Answer: Distance Interview
Explanation:
As the company is situated in New York city and the candidate for the interview lives in California the company can choose distance interview. Distance interviews can be telephone interviews or video interviews or screen sharing to know about the candidate's knowledge.
This is a cost saving method and quick method rather than inviting the candidate to New York office for which the company has to pay for the travelling expenses. So this would be the most effective way for the applicant as well as the company.
Explanation:
The recording of transactions and events is called:.