The Sarbanes-Oxley Act was enacted in response to:

A) accountants' requests for definitive guidelines for their profession.
B) business scandals involving companies such as Enron, WorldCom, and the Arthur Andersen accounting firm.
C) the need to lighten the oversight and enforcement responsibilities of the SEC.
D) the Ultramares Corporation v. Touche case.


B

Business

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The Stockholders' Equity section of Deer Lakes Manor's balance sheet on January 1, 2016, appeared as follows: Common stock, $30 par, 20,000 shares issued and outstanding $ 600,000 Additional paid-in capital—Common 240,000 Retained earnings 700,000 Total stockholders' equity $1,540,000 On March 1, 2016, Deer Lakes reacquired 4,000 shares of common stock at $50 per share. All common shares were

originally sold for $42 each. How much should be reported in the treasury stock account on the March 31, 2016, balance sheet? a. $128,000 b. $168,000 c. $200,000 d. $32,000

Business

An increase in a firm's expected growth rate would cause its required rate of return to

A. increase. B. decrease. C. fluctuate less than before. D. fluctuate more than before. E. possibly increase, possibly decrease, or possibly remain constant.

Business

Regression is always a superior forecasting method to exponential smoothing, so regression should be used whenever the appropriate software is available

Indicate whether the statement is true or false

Business

A person who violates the Clean Water Act can face possible imprisonment in addition to other penalties

Indicate whether the statement is true or false

Business