Contributory negligence is a defense to negligence actions, but not generally in strict liability

actions.

Indicate whether the statement is true or false


TRUE

Business

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The Sarbanes-Oxley Act of 2002 (SOX) 2002 requires the management of all companies and their auditors to assess and report on the design and effectiveness of internal control over financial reporting annually.

Answer the following statement true (T) or false (F)

Business

On November 12, Higgins, Inc., a U.S. Company, sold merchandise on credit to Kagome of Japan at a price of 1,500,000 yen. The exchange rate was $0.00837 per yen on the date of sale. On December 31, when Higgins prepared its financial statements, the exchange rate was $0.00843. Kagome paid in full on January 12, when the exchange rate was $0.00861. On December 31, Higgins should prepare the following journal entry:

A. No journal entry is required until the amount is collected. B. Debit Accounts Receivable-Kagome $90; credit Foreign Exchange Gain $90. C. Debit Foreign Exchange Loss $90; credit Sales $90. D. Debit Sales $90; credit Foreign Exchange Gain $90. E. Debit Foreign Exchange Loss $90; Accounts Receivable-Kagome $90.

Business

A participial phrase is always followed by a(n) _____

Fill in the blank(s) with correct word

Business

Many European Union member countries use the same currency, the euro.

Answer the following statement true (T) or false (F)

Business