The Sarbanes-Oxley Act of 2002 requires the chief executive officer of a publicly-traded corporation to _____.?
A. ?keep confidential the procedures used to construct and report financial statements.
B. ?certify financial reports that are submitted to the Securities and Exchange Commission.
C. ?pursue interests that result in large gains for them and large losses for stockholders
D. ?oversee the corporation's audit and attest the audit report
E. ?render an unbiased (independent) opinion concerning the firm's financial statements
Answer: B
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Gardner Company expects sales for October of $248,000. Experience suggests that 45% of sales are for cash and 55% are on credit. The company collects 50% of its credit sales in the month of sale and 50% in the month following sale. Budgeted Accounts Receivable on September 30 is $67,000. What is the amount of Accounts Receivable on the October 31 budgeted balance sheet?
A. $124,000. B. $67,000. C. $111,600. D. $136,400. E. $68,200.
A news release form usually contains the name, address, and telephone number of the person responsible for issuing the release to the public
Indicate whether the statement is true or false
Halt Company uses a standard cost system and applies manufacturing overhead to products on the basis of machine hours. The following information is available for the year just ended: Standard variable-overhead rate per machine hour: $2.50Standard fixed-overhead rate per machine hour: $5.00Planned activity during the period: 30,000 machine hoursActual production: 10,700 finished unitsProduction standard: Three machine hours per unitActual variable overhead: $86,200Actual total overhead: $225,500Actual machine hours worked: 35,100Required: A. Calculate the budgeted fixed overhead for the year.B. Did Halt spend more or less than anticipated for fixed overhead? How much?C. Was variable overhead under- or overapplied during the year? By how much?D. Was Halt efficient in its use of machine
hours? Briefly explain.E. Would the company's efficiency or inefficiency in the use of machine hours have any effect on Halt's overhead variances? If "yes," which one(s)? What will be an ideal response?
A ________ is a shared ownership in a foreign business
A) licensing agreement B) greenfield investment C) joint venture D) wholly-owned affiliate