The Sarbanes-Oxley Act was passed in an effort to
A) protect small business from large corporations dominating the market.
B) ensure that partnerships divide profits among partners in a fair manner.
C) guarantee that outside auditors can control corporate accounting practices.
D) control corrupt corporate financial behavior.
D) control corrupt corporate financial behavior.
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The person who promises to pay a certain amount of money at a definite future date is called the
a. maker of the note; b. payee of the note; c. discounter of the note; d. endorser of the note; e. cosigner of the note.
Ricardo develops a new type of software and asks you how he should go about making money through distribution of it. He has been told that he should sell the software as opposed to issuing licenses for its use. What should you tell him?
a. That by selling, rather than by licensing, a software vendor can avoid the doctrine of first sale, which allows a lawful owner to sell or otherwise dispose of the copy. b. That by licensing, rather than by selling, a software vendor can avoid the doctrine of first sale, which allows a lawful owner to sell or otherwise dispose of the copy. c. That selling is the only reasonable alternative because computer programs are not copyrightable. d. That licensing is the only reasonable alternative because computer programs are not copyrightable.
Cost of goods sold is an expense, and is reported on the income statement.
Answer the following statement true (T) or false (F)
Which of the following statements is TRUE concerning the Businessowners policy?
a. The BOP is a type of package policy that prepackages a group of coverage desirable to small businesses. b. The BOP permits insureds to select the coverage parts to be included in the policy. c. The BOP provides coverage only for the real and business personal property of insureds. d. The BOP provides coverage for medium- to large-sized businesses.