What is SOX?
SOX is the Sarbanes-Oxley Act. It protects employees who report improper conduct by corporate officials concerning securities fraud and corruption.
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Product placement has reached the world of live theater and opera. The difference between product placement and other forms of promotion is:
A) ethical concerns are not taken into account. B) viewers are being marketed to subliminally without their consent. C) products are focused showing different angles. D) prominent personalities add a message about the product. E) sponsors are recognized for their contribution.
Royal Company purchased a dump truck at the beginning of 2012 at a cost of $60,000 . The truck had an estimated life of 6 years and an estimated residual value of $24,000 . On January 1, 2014, the company made major repairs of $20,000 to the truck that extended the life 1 year. Thus, starting with 2014, the truck has a remaining life of 5 years and a new salvage value of $8,000 . Royal uses the
straight-line depreciation method. When calculating depreciation for 2014, Royal should a. add the $20,000 to the book value at December 31, 2013 and then allocate the revised basis over the remaining adjusted useful life of 5 years. b. report the effect of the change in life as an expense on the income statement in 2013. c. ignore the change in life on the original cost of $60,000 and depreciate the additional $20,000 cost separately over its useful life. d. expense the $20,000 and depreciate the original cost of $60,000 over its revised estimated total live of 7 years.
The fundamental way in which a company will achieve its goal is described in its
A) balance sheet and income statement. B) cash flow statement. C) budget. D) mission statement.
Industry around the world accounts for approximately how much of the world’s total energy use (choose the closest answer)?
a. 1% b. 10% c. 20% d. 30%