Which of the following provisions of the Sarbanes-Oxley Act addresses the management assessment of internal controls?
a. rules of professional responsibility for attorneys.
b. codes of ethics for senior financial officers.
c. management assessment of internal controls.
d. services outside the scope of auditors

Answer:

Truthfulness

Explanation:

A credible news organization is an organization that conveys truthful, verified information, ideally without biases. For example, Reuters is one of the most credible organizations because they do not editorialize information: they simply convey it as it is.

Negative news should not be used to promote hidden agendas against something or someone, because if the agenda is discovered, the credibility of the news organization will take a hit.

Answer:

The adjusting entry includes a debit to Cost of Goods Sold and a credit to Merchandise Inventory for $3,200

Explanation:

Perpetual inventory is a method of accounting for inventory that records the sale or purchase of inventory immediately

The adjusting entry is calculated by subtracting the physical inventory account from the merchandise inventory account

Given

Physical Inventory Account= $63,000

Merchandise Inventory Account= $66200

Adjusting Entry = Merchandise Inventory Account - Physical Inventory Account

Adjusting Entry = $66,200 - $63,000

Adjusting Entry = $3200

The Options are :

a) participative management.

b)  top-down management.

c)  strategic cost management.

d)  supply chain management.

e)  management by objectives (MBO).

Answer : D -   supply chain management.

Explanation:

Supply chain management means managing the flow of goods and services with the intention of maximizing customer value as well as competitive advantage in the marketplace.

Answer:

The correct answer is A. Coefficient of variation.

Explanation:

Coefficient of variation is the risk of an asset or portfolio per unit of return.

Coefficient of variation = Standard deviation/ Return

Lower the coefficient, better it is.

If portfolio have same return but different risk or same risk but different return then inventor will prefer portfolio with

If portfolio have different returns with different risks, then protfolio with lower coefficient of variation is preferred.

The Coefficient of variation is the measure that best represents the risk to reward ratio for an investment over a specific time period.

Among the options provided, the measure risk to reward earned by an investment over a specific period of time is best represented by the Coefficient of variation (Option A). The coefficient of variation is calculated by dividing the standard deviation of the investment's returns by the mean (expected value) of those returns.

This statistic provides information on the degree of variability in relation to the average return, thus reflecting risk in comparison to the potential reward. Option B, Market deviation, is not a commonly used term in this context. Option C, Standard deviation, measures the variability of returns, but does not directly relate it to the reward. Lastly, Option D, Total variation, is a broad term, and not one that specifically measures risk to reward ratio.

Answer:

This is an example of a Hostile Work Environment.

Explanation:

Sexual harassment is commonly defined as advances of a sexual nature that are unwanted. They may include remarks of a sexual nature, sexual demands etc. It is also a form of discrimination that breaches Title VII of The Civil Rights Act of 1964.

The Equal Employment Opportunity Commission (EEOC) classifies harassment of a sexual nature into two(2) namely;

i) Quid Pro Quo

ii) Hostile Work Environment.

Quid Pro Quo; Is Latin for something for something. This involves out-rightly expressed or suggestive demands for sexual favors in exchange for some sort of benefit.

Hostile Work Environment; This occurs when a co-worker makes repeated sexual comments or advances which in turn creates a toxic work environment.

For Claudia, this is a perfect example of a Hostile Work Environment.

Answer:

Loss on the  computers will be $1600

Explanation:

We have given number of computers = 8

After two year each computer has a cost of $600 and originally retailed for $900

And current replacement price = $400

We have to find the loss

Now cost of 8 computers = 8×600 = $4800

Replacement cost of 8 computers = 8×$400 = $3200

So loss will be equal to = $4800 - $3200 = $1600

So loss on the computers will be $1600

Answer:

Journal entry are as follows:

Nov 1

Dr Inventory $1,500

CR Accounts payable $1,500

Nov 5

Dr Accounts payable $1,500

Cr Cash $1,470

Cr Purchase discount $30

Nov 7

Dr Cash $196

Dr Purchase discount $4

Cr Inventory $200

Nov 10

Dr Freight-in $75

Cr Cash $75

Nov 13

Dr Accounts receivable $1,620

Cr Sales $1,620

Dr Cost of Sales $810

Cr Inventory $810

Nov 16

Dr Sales returns and allowances $300

Cr Accounts Receivable $300

Dr Inventory $150

Cr Cost of sales $150

Explanation:

*Using gross method of perpetual inventory, all purchases and sales are recorded at gross amount and discounts are only recorded when availed.

*Purchase returns made after payment or settlement must also be reverted and deducted to cash amount received.

*During sales, there will be two entries. 1 is to record the sales and accounts receivable and 2 is to record cost of good sold and deduction to inventory.

Final answer:

The merchandising transactions for Dollar Store are journalized for a perpetual inventory system using the gross method, detailing purchases, sales, returns, discounts, and transportation costs.

Explanation:

To journalize the given merchandising transactions for the Dollar Store under a perpetual inventory system using the gross method, follow these entries:

November 1: Purchased merchandise (Inventory) $1,500 on account with terms 2/5, n/30. Since payment is made within the discount period, a discount of $30 (2% of $1,500) can be claimed.

Dr. Inventory $1,500

Cr. Accounts Payable $1,500November 5: Paid cash for November 1 purchase, less return and discount.

Dr. Accounts Payable $1,470 ($1,500 - $30 discount)

Cr. Cash $1,470November 7: Returned defective merchandise for a cash refund.

Dr. Cash $200

Cr. Inventory $200November 10: Paid cash for transportation costs.

Dr. Inventory $75

Cr. Cash $75November 13: Sold merchandise on account.

Dr. Accounts Receivable $1,620

Cr. Sales $1,620

Dr. Cost of Goods Sold $810

Cr. Inventory $810November 16: Accepted return of merchandise from customer.

Dr. Sales Returns and Allowances $300

Cr. Accounts Receivable $300

Dr. Inventory $150

Cr. Cost of Goods Sold $150

This series of entries accurately reflects the transactions, capturing both the sales and inventory aspects of the operations, applying the correct discounts, returns, and additional costs, such as transportation.

Answer: cognitive dissonance

Explanation: Cognitive dissonance takes place in the fields of psychology when an individual holds two or more irrational beliefs, concepts, or principles, or takes part in a motion that runs counter to any of these three and thereby perspectives mental stress.

Inconvenience is caused by an individual's belief that conflicts with new interpreted proof (statistics) in which they attempt to take steps to address the inconsistency in order to minimize their distress.

In simple words, The concept behind cognitive dissonance shows that people find psychological continuity regarding their life span and the earth's objective reality.

Answer:

Of course Jo-Anne Roberts can keep the apartment.

Explanation:

Jo-Anne and the previous owner of the apartment had a valid contract by which Jo-Anne was to pay $3.7 million for the apartment. She has already partially completed her performance on the contract, so the seller must perform his part of the contract.

Answer:

A. Motion to dismiss

Explanation:

A motion is a way of asking some decision from the court. For an order or other event, the group must "pass" the court. Practice of motion is a significant part of the proceedings.

A party may seek to dismiss the case for a variety of reasons, including failure of jurisdiction in the subject matter, lack of personal jurisdiction, inadequate location, insufficient proceedings, failure to state a claim for which relief may be granted, and failure to join the party concerned.

In this case it is for failure to state a claim upon which relief can be granted (or demurrer).

Answer:

Legal responsibility

Explanation:

Since there have been regulations put in place by the government, it is thereforre a legally binding agreement between XYZ company and any other companies that does same as XYZ company.

The failure of XYZ company to honour the set regulations is a breach in its legal responsibilty alongside its corporate social responsibilty as well and it can be taken up by the government by either charging the XYZ company to court or revoking their operating license.

Cheers.

Answer:

The correct answer is: firm telephone number.

Explanation:

Whenever a licensee uses a broker or firm to grant his or her operations, details of that broker or firm (name and local phone number) must be publicly provided so, in front of misleading practices or hesitation about the licensee, investors can reach the franchise to find out more information on this person or even file claims when suitable.

Answer:

D) An increase in business inventories.

Explanation:

The words investment can mean different thing to different people, but to an economist, the word investment mean the acquisition of resources by any economic agent  which will increase the productive capacity of the economy.

The correct answer here is (D) An increase in business inventories. this is because the factor of production that produced the inventories received factor income and if ignored in the measurement will create disequilibrium in the three methods of measuring GDP (i.e. output method, expenditure method and output method).

A) An increase in corporate stock volumes during the year is not correct because it is transfer of ownership not addition to production.

C) An increase in government spending is not because they are expenditure on goods and services that is not part of capital formation.

Answer:

Unfair Claims Settlement Practices Act

Explanation:

Here fundamentally, the act which will be acted on the given sentence is generally known as Unfair Claims Settlement Practices Act. Unfair claims practice is the inappropriate restraint of a request by an insurer or an endeavor to diminish the intensity of the claim. By interlacing in unfair claims practices, an insurer strives to diminish its values. Nevertheless, this is unlawful in various jurisdictions. Additionally, most maximum states possess formulated a version of this type of rule. Denominated essentially the Unfair Claims Settlement Practices Act, it defends safeguard consumers from the unfair manner by insurers in the appeals settlement method.

Answer:

Decrease

Explanation:

Fiscal policy is an important policy tool which is used by the government to account for revenue and expenses. During a boom stage, when the economy is improving the government implements more taxes. Similarly, in a recession period, where economic growth is negative an expansionary discretionary fiscal policy is applied. In this type of fiscal policy, taxes and government expenses both are concentrated to remove the pressure.

Answer: Sales management

Explanation:

The sales management is basically refers to the sales technique in which the various types of practical applications are developed in an organization for management of the sales operation.

By using the sales management technique we can easily implement various types of sales technique for coordinating the sales operation.

It basically involve various types of selling program and also helps in evaluating the products for the purpose of personal selling. It also helps in organize the sales force in an organization.  

Therefore, Sales management is correct answer.

The described process involves business strategies for planning, implementing, and evaluating a company's personal selling efforts, which includes salesforce management, training, and performance evaluation.

The process being described involves planning the selling program and implementing and evaluating the personal selling effort of the firm, which falls under the scope of business, specifically sales and marketing. Crucial tasks in managing personal selling include establishing objectives for sales teams, structuring the sales force, recruiting, selecting, and training salespeople, determining compensation schemes, and critically assessing sales performance.

Part of the process also includes creating systems to identify training and development needs, as well as developing employee selection systems that ensure candidates are well-matched with job requirements. This extends to designing and running training programs, evaluating their effectiveness, and being involved in the overall strategic planning of marketing campaigns. Such elaborate planning of personal selling is essential for the effective deployment of sales strategies, ensuring a well-prepared sales force, and the achievement of organizational sales targets.

Answer:

Regular savings account

Explanation:

One requires to commit small amounts of income each month on a regular savings account.

In exchange for providing your savings provider a fixed level of income every month, they normally pay you a higher rate of return than, for instance, if you invest a lump sum in a cash ISA or easy access account.

However, the best regular savings rates also exceed the prices on the longer fixed-rate offers offered.

This type of account has rigorous terms of service that may cause you to lose your competitive rate if you fail to adhere to them.

Answer:

A. $7,761.84

Explanation:

Balance after deferment period before any payment made.

A = P(1 + r)^t

A = $9940*(1 + 0.2253)^(12/12)

A = $12179.5

Final balance after monthly payment.

A_f = $12179.5 - (12*397)

A_f = $7415.5

Therefore, The balance after the deferment period A payment of $397 are each month is $7,761.84.

Answer:

C) Cooperative structure; a bonus for increasing organizational performance

Explanation:

Since apparently Ortiz's bad performance actually helped Ramirez and the whole organizational to exceed expected profits, then he should also receive a bonus for his participation in increasing the company's profits.

I'm not sure how this can happen, maybe the company operates two supermarkets and since Ortiz's supermarket operated really badly, then Ramirez's supermarket exceeded expected sales.  

Answer:

False

Explanation:

As our government gave  the right to banks to question any queries regarding another bank details if the transaction is being processed. All the information that are needed from the bank to withdraw the money and deposit the money should be given to analyse whether the person will return the fund on given time. It is useful in getting suitable knowledge about that person and banks can also communicate about the coming problems and what pros and cons they might be facing in coming years so that they can be warned.

Answer:

Explanation:

GDP is gross domestic product and NDP is net domestic product.

GDP measures market value of total goods and services produced in a particular period of time.

NDP is net domestic product  . In its calculation,  we deduct the value of depreciation of capital goods produced from the value of GDP.

So

NDP = GDP - depreciation .

So growing gap between GDP and NDP reflects the increasing obsolescence of capital goods , which warrants replacement of capital goods .

OPTION A is correct.

Answer:

Answer to this question is Option A i.e. problem recognition.

Explanation:

Here, Jane Harper, the owner of Harper farms come across a problem related to the damaged coops. This problem acts as a trigger for his decision of buying new coops. Jane has identified a problem here and brought in his notice that he has to buy new coops for his business. Therefore, Jane is at the very first stage of buying decision process i.e. problem recognition.

Answer:

C) $57,000

Explanation:

The gross domestic product is the total production of final and legal goods and services in an economy.

total production of final goods = (20 couches x $2,600 per couch) + (5 leather sets x $1,000 per set) = $52,000 + $5,000 = $57,000

the leather sets are considered final products since they are part of the ending inventory of Cowhide, Inc.  

Answer:

4%

Explanation:

We start with the nominal rate of return and then we adjust it to inflation.

real rate of return = nominal rate of return - inflation rate = 6.9% - 2% = 4.9%

finally we must subtract the maturity risk premium (MRP) of the bonds:

bond yield = real rate of return - MRP = 4.9% - 0.9% = 4%

Answer:

1. Yields a balance sheet inventory amount often markedly less than its replacement cost.  LIFO

2. Results in a balance sheet inventory amount approximating replacement cost.  FIFO

3. Provides a tax advantage (deferral) to a corporation when costs are rising.  LIFO

4. Recognizes (mulches) recent costs against net sales.  LIFO

5. The preferred method when each unit of product has unique features that markedly effect cost. WEIGHTED AVERAGE

Explanation:

1. LIFO yields a balance sheet inventory amount often markedly less than its replacement cost.  The reason is because the in a period of rising costs, since the last stock of goods bought are sold first, this will result in the remaining stock of goods to be of lower costs as they had been bought at an earlier date at a cheaper rate.

2. FIFO results in a balance sheet inventory amount approximating replacement cost because the first set of goods purchased are sold first; and if the assumption holds that costs are rising with time, then the balance stock of goods would have been bought at a later date at a higher cost, hence the value of the balance (ending) inventory will be almost equal to its replacement cost.  

3. LIFO provides a tax advantage (deferral) to a corporation when costs are rising because it results in a lower ending inventory value since the more expensive inventory has been sold. Hence, the closing stock and Net income will be low and income tax will be low.

4. LIFO matches recent costs against net sales because the 'cost of sales' are made up of the recent purchases which are sold first

5. The preferred method when each unit of product has unique features that markedly effect cost is the WEIGHTED AVERAGE because it calculates the average period cost of all goods in stock and apportions the total to individual items.

Answer:

22.22%

Explanation:

Currently Rainbow's stocks are priced at $36 per stock.

If the holder can convert his $1,100 bond into 25 stocks, that means that each stock should be worth at least $44 (= $1,100 / 25).

So the current stock price should increase by $8 (= $44 - $36) in order for a trade to be attractive, $8 represents a 22.22% increase (= ($8 / $36) x 100)

Answer: confirmation bias

Explanation: Confirmation bias refers to the tendency to find, perceive, support, and remember data in a way that asserts somebody's previous beliefs and analysis. 

It is a form of cognitive dissonance and a deliberate intuitive rationale mistake. Individual  show this prejudice while storing or mistakenly recalling data or presenting it in a biased manner.

Confirmation biases lead to stubbornness in personal convictions and, throughout the presence of contradictory evidence, may sustain or reinforce beliefs. Wrong decisions were observed in national and institutional settings due to these prejudices.

Answer:

b

Explanation:

Answer:

planning process

Explanation:

Partners must be included in the planning process and their opinions must be sought in mission assignment. It is improper for the opinions of other contributing nations to be neglected during the planning process of a mission. As stated in the question,  the commander must consider that national honor and prestige may be as important to a contributing nation as combat capability.

Answer:

b. all banks whether or not they are members of the Federal Reserve System.

Explanation:

Banks subject to reserve requirements set by the Federal Reserve System includes all banks from commercial banks to savings banks, to savings and loans banks, credit agencies and also all foreign banks with branches in the United States.