What is the CEO and CFO provision laid out by the Sarbanes-Oxley Act of 2002?
What will be an ideal response?
The chief executive officer (CEO) and chief financial officer (CFO) of a public company must file a statement accompanying each annual and quarterly report, thereby certifying that the signing officer has reviewed the report; that, based on the officer's knowledge, the report does not contain any untrue statement of a material fact or omit to state a material fact that would make the statement misleading; and that the financial statement and disclosures fairly present, in all material aspects, the operation and financial condition of the company. A knowing and willful violation is punishable by up to 20 years in prison and a monetary fine.
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Sunnripe Corporation manufactures and sells two types of beach towels, standard and deluxe. Sunnripe expects the following operating results next year: StandardDeluxeTotal sales$450,000 $50,000 Total variable expenses$360,000 $20,000 Sunnripe expects to have a total of $57,600 in fixed expenses next year. What is Sunnripe's overall break-even point next year in sales dollars?
A. $72,000 B. $144,000 C. $240,000 D. $192,000
Tweets and other online posts are now being used to persuade others
Indicate whether the statement is true or false
A video game publishing company needs to predict the total sales in the European market for the next year. This is an example of a(n):
A) firm-level demand forecast. B) overall market demand forecast. C) supply forecast. D) price forecast.
_____ is the profit or loss a firm earns in the time period covered by the financial statement that reports the revenues and expenses.
A. Shared debt B. Owners' equity C. Net income D. Cash flow