How has SOX legislation impacted the consulting practices of public accounting firms?
Prior to SOX, a gray area of overlap existed between assurance and consulting services. Auditors were once allowed to provide consulting services to their audit clients. This is now prohibited from doing so under SOX legislation.
You might also like to view...
Tangible assets include
a. patents. b. cash. c. trademarks. d. copyrights.
Which of the following is a difference between a sale or return contract and a sale on approval contract?
A) For sale or return, the risk of loss is borne by the buyer; while in a sale on approval, it is borne by the seller. B) For sale or return, the goods are sold to the buyer; while in a sale on approval, the buyer is allowed a time period to test the goods. C) For sale or return, failure to notify rejection is not acceptance; while in a sale on approval, failure to notify rejection is acceptance. D) For sale or return, goods sold can be returned; while in a sale on approval, goods sold can never be returned.
Mark, a resident of Illinois, while driving on the freeway, hits Sonya, a resident of Wisconsin, and totally destroys Sonya's brand new vehicle. Sonya may bring suit in federal district court:
A) because of federal question jurisdiction. B) because there is always jurisdiction if there is diversity of citizenship. C) if the amount in controversy is over $75,000. D) if the accident occurred outside of Illinois or Wisconsin.
Shelhorse Corporation produces and sells a single product. Data concerning that product appear below: Per UnitPercent of SalesSelling price$140 100%Variable expenses 56 40%Contribution margin$84 60% Fixed expenses are $275,000 per month. The company is currently selling 4,000 units per month. Required:The marketing manager believes that a $13,000 increase in the monthly advertising budget would result in a 150 unit increase in monthly sales. What should be the overall effect on the company's monthly net operating income of this change?
What will be an ideal response?