What argument can be made that SOX may not be effective in reducing fraud?
A. Civil and criminal penalties are not effective in preventing financial fraud
B. The penalties under Sarbanes-Oxley are especially stringent, so it may not be enforced
C. It is not as stringent as international standards
D. The SEC has many laws for many years that have not seemed to make much of a difference
Answer: A
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[APPENDIX] Gordon Vending, a sole proprietorship, had the following balances and transactions during 2015: beginning capital, $40,000; contribution of cash to the business by the owner, $15,000; revenue, $60,000; expenses, $35,000; withdrawal by the owner, $5,000 . What is the amount of the ending capital balance?
a. $40,000 b. $60,000 c. $75,000 d. $85,000
The "fiduciary relationship" differentiates professionals from other skilled practitioners. Which one of the following best represents the nature of a fiduciary relationship?
A. Society extends certain privileges to professionals because of the value and trust they also receive from society. B. Clients actually pay the practitioner directly, with no middle person involved. C. Professionals hold you and your possessions in trust, and are obliged to act in your best interest.
Rickett Corporation had a favorable direct-labor efficiency variance of $6,000 for the period just ended. The actual wage rate was $0.50 more than the standard rate of $12.00. If the company's standard hours allowed for actual production totaled 9,500, how many hours did the firm actually work?
A. 10,000. B. 9,020. C. 9,980. D. 9,000. E. None of the answers is correct.
Sophie loves Crunch bars. On her way home from a long day of work, she stops at a gas station to get a Crunch bar. However, when she reads Rolling Stone and finds an ad with the Snickers logo that reads "SNKRS Fnlly! Snkrs minis," she gives a chuckle and thinks maybe she will try a Snickers after work tomorrow. Which of the following describes her decision to try Snickers?
A. brand disparity B. brand perception C. consumer loyalty D. brand interest E. criteria evaluation