Both the SEC and the PCAOB have expressed an opinion as which internal control framework an organization should use to comply with SOX legislation. Explain
Both the SEC and PCAOB endorse the COSO framework but any framework can be used that encompasses all of the COSO's general themes
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How did the Plymouth Company endeavor to create a colony in New England differ from previous English colonies like Jamestown?
a. It had a strong religious component and goal. b. It lacked backing by a royal charter. c. It involved no debts to the crown. d. It was not a business venture.
Dean Hardware, Inc. is comprised of five operating segments. Information about each of these segments is as follows (in thousands): Rakes Pails Shovels Hardware AccessoriesSales to outsiders$94 $506 $44 $122 $28 Intersegment transfers 4 26 14 30 24 Interest revenue - outsiders 2 - 4 8 - Interest revenue - intersegment - 6 - - 22 Operating expenses - outsiders 116 414 40 102 26 Operating expenses - intersegment 2 20 6 16 22 Interest expense - 12 - 2 22 Income taxes (4) 10 4 6 2 Tangible assets 18 116 12 12 8 Intangible assets - - 4 8 6 Intersegment
receivables 8 6 - - - ?Which operating segments are reportable under the profit or loss test? A. Pails and Hardware. B. Rakes, Pails, Shovels, and Hardware. C. Rakes, Pails, and Shovels. D. Rakes, Pails, and Hardware. E. Rakes, Pails, Shovels, Hardware, and Accessories.
If the break-even point in a typical make-buy scenario is 24,000 units and 8,000 units are required by the firm, then the firm should choose to make the units
a. True b. False Indicate whether the statement is true or false
Tony's Beach T-Shirts has fixed annual operating costs of $75,000. Tony retails his T-shirts for $14.99 each and the variable cost per T-shirt is $4.99. Based on this information, the breakeven sales level in units is ________.
A) 7,500 B) 15,030 C) 5,003 D) 3,754