Section 301 of the Sarbanes-Oxley Act requires
A. The establishment of procedures to accept employee complaints
B. Code of ethics requirements for senior officers
C. The principle executive to certify that they have reviewed the financial statements
D. A report of the company's internal control over financial reporting
Answer: A
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Madhup operates a wholesale company that specializes in providing a wide variety of services to its customers, which are all restaurants. He carries a wide assortment of restaurant equipment and cookware. Madhup's business is a
A. mail-order wholesaler. B. rack jobber. C. general-line wholesaler. D. specialty-line wholesaler. E. limited-service wholesaler.
Specific security challenges that threaten clients in a client/server environment include:
A) tapping, sniffing, message alteration, and radiation. B) hacking, vandalism, and denial of service attacks. C) theft, copying, alteration of data, and hardware or software failure. D) unauthorized access, errors, and spyware. E) vandalism, message alteration, and errors.
It is mandatory that the essential provisions of which of the following be clearly stated in the notes to the financial statements?
a. Stock option plans b. Pension obligations c. Lease contracts d. All of these
At the beginning of the year, Heather's "tax basis" capital account balance in the HEP Partnership was $85,000 . During the tax year, Heather contributed property with a basis of $6,000 and a fair market value of $10,000 . Her share of the partnership's ordinary income and separately stated income and deduction items was $40,000 . At the end of the year, the partnership distributed $15,000 of
cash to Heather. In addition, the partnership allocated $12,000 of recourse debt and $10,000 of nonrecourse debt to Heather. What is Heather's ending capital account balance determined using the "tax basis" method? a. $116,000 b. $120,000 c. $126,000 d. $128,000 e. $138,000