The Roland Company needs to comply with the financial reporting standards of the Sarbanes-Oxley Act. One of the employees, Ken, believes that the costs outweigh the benefits. However, his boss feels the opposite, that the benefits outweigh the costs. Who is correct? A : Ken is correct, as the costs outweigh the benefits. B : Neither of them is correct, as determining the costs of the Act is possible, but determining the benefits is not fully possible. C : Neither of them is correct, as determining the benefits of the Act is possible, but determining the costs is not fully possible. D : Ken’s boss is correct, as the benefits outweigh the costs.

Answers

Answer 1
Answer:

Answer:

The correct answer is letter "B": Neither of them is correct, as determining the costs of the Act is possible, but determining the benefits is not fully possible.

Explanation:

The Sarbanes-Oxley (SOX) Act Of 2002 is a legislative response to several corporate scandals that sent shock waves through the world financial markets. The SOX attempts to strengthen corporate oversight and improve internal control. The main purpose of SOX is to protect shareholders from fraudulent representation in corporate financial statements.

In regards to the Roland Company case, the cost of implementing SOX will be a more strict accounting and financial book-keeping. This could provide the company with more accurate information that helps to make better corporate decisions but the benefits cannot be fully measured.

Answer 2
Answer:

Final answer:

The question as to whether the costs or benefits of the Sarbanes-Oxley Act outweigh each other depends on the specific circumstances of the company and how one interprets these costs and benefits. Nevertheless, the Act is generally understood to enhance transparency, reduce fraud, and build investor confidence.

Explanation:

This is a subjective question as it pertains to the perception of costs and benefits under the Sarbanes-Oxley Act. One cannot definitively say if Ken or his boss is correct without having a complete picture of the Roland Company's financial situation and understanding of the Act's implications. However, the premise of the Sarbanes-Oxley Act is to increase transparency in financial reporting, reduce incidents of corporate fraud, and protect shareholders. While the act does impose significant administrative costs, many argue that its benefits in promoting investor confidence outweigh these costs. Thus, it could be argued that the views of Ken’s boss would align more with the overall objective of the Act.

Learn more about Sarbanes-Oxley Act here:

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Three years ago, Vincent Chow completed his degree in accounting. The economy was in a depressed state at the time, and Vincent managed to get an offer of only $20,000 per year as a bookkeeper. In addition to its relatively low pay, this job had limited advancement potential. Since Vincent was an enterprising and ambitious young man, he declined this offer and started a business of his own. He was convinced that because of changing lifestyles, a drive-through coffee establishment would be profitable. He was able to obtain backing from his parents to open such an establishment close to the industrial park area in town. Vincent named his business The Cappuccino Express and decided to sell only two type types of coffee; cappuccino and decaffeinated. As Vincent had expected, the Cappuccino Express was very well received. Within three years, Vincent had added another outlet north of town. He left the day-to-day management of each site to a manager and focused his own attention on overseeing the entire enterprise. He also hired an assistant to do the record keeping and to perform selected other shores.Required:a. What is the competitive strategy of Vincent’s business – cost leadership, differentiation, or focus?b. What are the critical success factors of The Cappuccino Express? Which of these are controllable by Vincent?c. What major tasks does Vincent have to undertake in managing The Cappuccino Express?
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At December 31, 2017, Sweet Corporation had a projected benefit obligation of $561,600, plan assets of $331,900, and prior service cost of $120,300 in accumulated other comprehensive income. Determine the pension asset/liability at December 31, 2017. (Enter liability using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Pension asset/liability at December 31, 2017
Finishing Touches has two classes of stock authorized: 8%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2021, its first year of operations: January 2 Issues 100,000 shares of common stock for $35 per share. February 6 Issues 3,000 shares of 8% preferred stock for $11 per share. September 10 Purchases 11,000 shares of its own common stock for $40 per share. December 15 Resells 5,500 shares of treasury stock at $45 per share. In its first year of operations, Finishing Touches has net income of $160,000 and pays dividends at the end of the year of $94,500 ($1 per share) on all common shares outstanding and $2,400 on all preferred shares outstanding. Required: Prepare the stockholders' equity section of the balance sheet for Finishing Touches as of December 31, 2021. (Amounts to be deducted should be indicated by a minus sign.)
Which one of the following statements is TRUE?(A) One tool of corporate governance is choosing a good investment banker.(B) One tool of corporate governance is how the company's charter affects the likelihood of a takeover.(C) One tool of corporate governance is a company's tax avoidance strategy. (D) Creditors have a claim on a firm's earning stream through the dividend payments they receive.(E) One tool of corporate governance is stock repurchases.

A cost that changes in proportion to changes in volume of activity is a(n): Select one: a. Differential cost. b. Fixed cost. c. Incremental cost. d. Variable cost. e. Product cost.

Answers

Answer:

The correct option is D

Explanation:

Variable cost is the corporate cost or an expense which varies in proportion  or relation to the production output. Increase or decrease in the variable cost grounded on the production volume of the company or firm, which in short means that increase or rise in variable cost and the production increases and fall in variable cost, production decreases.

Therefore, the cost which changes or varies in the proportion to change in the volume of the activity is known or referred as variable cost.

O’Dell Vegetables purchased a harvesting machine on July 1, 2016, for $984,000. The machine was estimated to have a useful life of 8 years with an estimated salvage value of $140,000. O’Dell uses the straight-line method of depreciation. During 2019, it became apparent that the machine would become uneconomical after December 31, 2023, and that the machine would have no scrap value. What should be the charge for depreciation in 2019 under generally accepted accounting principles?

Answers

Answer:

Depreciation expense in 2019 is $144,050

Explanation:

O’Dell Vegetables uses the straight-line method of depreciation, Depreciation Expense each year is calculated by following formula:

Depreciation Expense = (Cost of machine − Salvage Value )/Useful Life

From July 1, 2016 to 2018:

Annual Depreciation Expense = ($984,000 - $140,000)/8 = $105,500

Depreciation Expense in 2016 = $105,500x6/12 = $52,750

Accumulated Depreciation (end 2018) = $52,750 + $105,500 + $105,500 = $263,750

From 2019, the machine would become uneconomical after December 31, 2023:

Salvage Value = 0 and Remaining useful life = 5 year

Depreciation  Expense  = (Historical Cost - Accumulated Depreciation - Salvage Value)/Remaining Useful Life = ($984,000-$263,750-0)/5 = $144,050

Depreciation in 2019 is $144,050

calculating clv is most helpful for which of the following? calculating clv is most helpful for which of the following? opening a new retail location assessing the viability of any pricing strategy calculating research investment for a new product estimating demand for a product

Answers

Calculating CLV is most helpful for Assessing the viability of any pricing strategy.

The correct option is B

What is customer lifetime value?

The total amount of money a client is anticipated to spend with your company or on your products over the course of an average business relationship is known as customer lifetime value.

If you can reach a CLV that is between three and five times your cost per new customer, it is a good range. Therefore, you should strive for a CLV of at least $450 if you are investing an average of $150 in acquiring a new customer.

The formula for customer lifetime value is: CLV = Average Transaction Size x Number of Transactions x Retention Period.

To learn more about customer lifetime value, visit:

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I understand that the question you are looking for is:

Calculating CLV is most helpful for which of the following?

(A) Opening a new retail location

(B) Assessing the viability of any pricing strategy

(C) Estimating demand for a product

(D) Calculating research investment for a new product

Buyers rush to purchase stocks in California vineyards following a forecast of a 30 percent decline in this year's grape harvest. What happens in the California wine market as a result of this announcement?

Answers

Answer:

The demand curve for wine shifts to the right

Explanation:

As per the forecast, there should be a decline in grape harvest. This induces the buyers to purchase more quantity of grapes in an anticipation of decline in future harvest which would eventually make grapes costlier than now.

Production of wine depends upon the availability of inputs. Grape being one of the necessary inputs. This means if in future, price of grapes rise, the production of wine would be costlier, which would raise the price of wine.

As a consequence of such an announcement, the wine market would experience an immediate increase in demand for wine which would shift the demand curve to the right.

Define and explain SMART?

Answers

Being smart is something that's grown and cultivated, often by being curious enough to seek out new information and by recognising what you don't already know. Being smart is the ability to put ideas together, and create solutions to problems. Being smart is the ability to focus, concentrate, and communicate.

In our newly networked world, reading is:A. the taking in of words.
B. a comment
c. a conversation,
D. only about producing words.

Answers

Answer:c

Explanation:

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