The SEC drafted report required by Sarbanes-Oxley used which of the following terms to refer to a principles-based approach to standards?
a. Bright line standards
b. Rule-oriented standards
c. Objective-oriented standards
d. Systematic and rational standards
ANSWER: C
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Your author identifies the ________ model of capital structure as one that describes the order in which firms typically raise capital
A) step B) internal-external C) queuing D) pecking-order
On April 6, Year 1, Gringot Company purchased $140,000 of merchandise inventory. Terms of the purchase included a discount of 3/20, n/30 and the freight terms were FOB destination. Freight costs amounted to $4,600. Gringot paid the account payable on April 24. Gringot sold all inventory for $189,500.Required: Determine the amount of gross margin Gringot would report on the income statement.
What will be an ideal response?
Bostian, Inc. has total assets of $625,000. Its total debt outstanding is $185,000. The Board of Directors has directed the CFO to move towards a debt-to-assets ratio of 55%. How much debt must the company add or subtract to achieve the target debt ratio?
A. $158,750 B. $166,688 C. $175,022 D. $183,773 E. $192,962
__________ must file annually, regardless of the level of income.
Fill in the blank(s) with the appropriate word(s).