Answer:
B) $952,500
Explanation:
Calculation for how much net income must it earn to meet its capital budgeting requirements and pay the dividend
Using this formula
Net income = Dividends + (Capital budget ×Equity)
Let plug in the formula
Net Income=$400,000+($850,000×65%)
Net Income=$400,000+$552,500
Net Income=$952,500
Therefore how much net income must it earn to meet its capital budgeting requirements and pay the dividend dividend,all while keeping its capital structure in balance is $952,500
Organon Teknina sells inexpensive equipment to detect Escherichia coli, listeria, or salmonella bacteria in food. The company serves not-for-profit institutions that need to regularly check food quality. Organon Teknina would be LEAST likely to sell to:
The options are:
The Montgomery County school system
Cincinnati Children’s Hospital.
Taco Bell
A chain of church-sponsored retirement homes.
American Red Cross emergency shelter kitchen
Answer:
Taco Bell
Explanation:
In the given scenario Organon Teknina sells inexpensive equipment to detect Escherichia coli, listeria, or salmonella bacteria in food. The company serves not-for-profit institutions.
Among the options given only Taco Bell is a for profit organisation, so they are not the primary target of Organon Teknina.
The other options are non profit organisations so they will recieve supply of inexpensive equipment from Organon Teknina.
Taco Bell is a chain of fast food restaurants in Chicago. The parent organisation is Yum brands
On January 1, 2021, Gundy Enterprises purchases an office building for $338,000, paying $58,000 down and borrowing the remaining $280,000, signing a 9%, 10-year mortgage. Installment payments of $3,546.92 are due at the end of each month, with the first payment due on January 31, 2021.
Required:
Record the purchase of the building on January 1, 2021.
Answer:
Debit Building $338,000
Credit Cash $58,000
Credit Notes Payable $280,000
Explanation:
Preparation of the journal entry to Record the purchase of the building on January 1, 2021.
Based on the information given we were told that the company purchases an office building for the amount of $338,000 which means that if they paid $58,000 down and as well borrowed the remaining amount of $280,000 the journal entry to Record the purchase of the building on January 1, 2021 will be :
Debit Building $338,000
Credit Cash $58,000
Credit Notes Payable $280,000
(Being to record the purchase of building)
2.FED (Federal Reserve Bank). buys a $10,000 bond from bank. What is the potential impact on MS (Money Supply)
Answer: Money Supply Increases
Explanation:
If the FED buys a $10,000 bond from a bank, it is increasing the money supply in the economy because the cash that it pays for the bond will go into the economy.
Buying bonds and securities from banks is one way the FED can embark on expansionary monetary supply policies that aim to inject money into the economy.
A disadvantage of technology leadership is infrastructure costs. harm to reputation. high competition. lower profit margins. decreased efficiency.
Answer:
a. High infrastructure cost
Explanation:
The disadvantages of technology leadership includes Greater risks, High infrastructural costs, Cost of technology and market development, cost of learning and Cannibalization of existing goods and services of the company. So, higher infrastructural costs is considered to be one of the major disadvantage of technology leadership.
Technology is referred to as the methods or the systems of knowledge that are to be applied in the development and the growth of the economy as a whole. It is the total of all the techniques that applies many skills, methods, and process in every sector for the accomplishment of the objectives or the scientific investigation.
The disadvantage of technology leadership is a. High infrastructure cost
The technologies have both positive and negative impacts. The positive impacts include the growth and the development of the various sectors of the economy. The negative impacts of the technology include the misutilization of it and also it leads to the habit of laziness and carelessness of many of the activities or the tasks.
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A building acquired at the beginning of the year at a cost of $1,450,000 has an estimated residual value of $300,000 and an estimated useful life of 10 years. Determine the following. (a) The depreciable cost $fill in the blank 1 (b) The straight-line rate fill in the blank 2 % (c) The annual straight-line depreciation
Answer:
(a) The depreciable cost
depreciable cost = purchase cost - salvage value = $1,450,000 - $300,000 = $1,150,000
(b) The straight-line rate
straight line depreciation rate = 100% / useful life = 100% / 10 years = 10% per year
(c) The annual straight-line depreciation
annual straight line depreciation expense = depreciable value x deprecation rate = $1,150,000 x 10% = $115,000
Which of the following statements about transactional leaders and the chain of command is FALSE? The chain of command is based on formal authority and responsibility in the organization The leader is given authority based on their position in the chain of command Chain of command promotes employee dependence which decreases accountability Subordinates are expected to follow directions given by leaders above them in the chain of command
Answer:
Chain of command promotes employee dependence which decreases accountability
Explanation:
The above statement is false when it comes to transactional leaders and their chain of command. On the contrary, it promotes employee independence which only requires approval from their leaders for any major decision. This on the long run, increases accountability of the said process because, any given error could be easily be traced.
Out of the given options, the one that is false is that Chain of command promotes employee dependence which decreases accountability.
Facts about Transactional LeadershipThere is a chain of command based on formal authority. Duties are delegated to employees and are tracked for completion.Based on the fact that employees are given certain tasks and expected to complete them; and that these tasks are tracked for completion, we cannot say that employee dependence and lack of accountability are promoted.
In conclusion, option C is correct.
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The present value of a perpetuity of 6,500 paid at the end of each year plus the present value of a perpetuity of 8,500 paid at the end of every 5 years is equal to the present value of an annuity of k paid at the end of each year for 25 years. Interest is 6% convertible quarterly. Calculate k.
Answer:
$10,340
Explanation:
The computation of k is shown below;
Rate per quarter = 6% ÷ 4 = 1.5%
In the case when perpetuity paid every year, the effective rate is
= (1 + 1.5%)^4 - 1
= 6.136%
Now Effective rate in the case when perpetuity paid every 5 years
= (1 + 1.5%)^(4 × 5) - 1
= 34.68%
Now
The present value of Both perpetuities = $6,500 ÷ 6.13635506249994% + $8,500 ÷ 34.6855006550052%
= $130,431.99
Now
annuity =k
Number of Periods=25
effective rate = 6.13635506249994%
Annuity k =PV ÷ ((1 - (1 + r)^-n) ÷ r
= $130,431.99 ÷ ((1-(1 + 6.13635506249994%)^-25) ÷ 6.13635506249994%
= $10,335.84
= $10,340
g To decrease the money supply, the Fed could Group of answer choices All of the above are correct. increase the discount rate. sell government bonds. increase the reserve requirement.
Answer:
All of the above are correct
Explanation:
When central banks or the Federal Reserve wants to control money supply in the economy it uses various tools that either mop up or increase money supply to the economy.
An increase in discount rate results in high interest rate of borrowing by commercial banks from the Federal Reserve. Cost of borrowing nos increased so money supply reduces.
Selling of government bonds is used to reduce cash in circulation. As investors buy the bonds money is moved from the economy to the Federal Reserve.
Reserve requirement is the amount of cash that commercial banks are required to keep with the Reserve. An increase in this means commercial banks have less to give to its customers
g I see you took a course about managing ethics and corporate social responsibility. What did you learn in that class
Explanation:
Analyzing the business scenario today, where there is a totally globalized and competitive world, it can be said that the management of ethics and corporate social responsibility are essential issues for a company to achieve a position before its stakeholders.
Globalization, new technologies and a very fast flow of information have brought consumers closer to organizations and this has led companies to seek to adapt their processes to survive in this new context, where they need to differentiate themselves not only for their products and services, but for your identity and values.
The companies then became agents that promote social and environmental responsibility, where every action that can cause damage to society is rewarded with social programs, environmental protection, promotion of ethics and protection of human rights. This is a way for organizations to stand out in the market, increase their value, attract investments, maintain continuous improvement, etc.
Sarafiny Corporation is in the process of preparing its annual budget. The following beginning and ending inventory levels are planned for the year:
Beginning Inventory Ending Inventory
Finished goods (units) 27,000 77,000
Raw material (grams) 57,000 47,000
Each unit of finished goods requires 3 grams of raw material. If the company plans to sell 140,000 units during the year, how much of the raw material should the company purchase during the year?
Answer:
560,000 grams should be purchased
Explanation:
production budget:
estimated sales = 140,000 units
planned ending inventory = 77,000
total production required = 217,000
- beginning inventory = (27,000)
units to be produced = 190,000
materials budget:
units to be produced = 190,000
materials per unit = 3
total direct materials needed = 570,000
+ desired ending inventory = 47,000
- beginning inventory = (57,000)
direct materials purchases = 560,000
With $5,100,000 Paul's will creates a trust with the following provisions: life estate to Jacob (Paul's son) and remainder to Anastasia (Paul's granddaughter and Jacob's daughter). Jacob dies when the value of the trust is $7,650,000.
Required:
When does the generation-skipping transfer result?
Answer:
The generation-skipping transfer results in the lifetime of Anastasia (Paul's granddaughter and Jacob's daughter).
Explanation:
a) Data:
Value of the Generation-skipping Trust created by Paul = $5,100,000
Value of the Generation-skipping Trust when Jacob dies = $7,650,000
b) Paul's generation-skipping trust (GST) is a type of legally binding trust agreement in which the contributed assets worth $5,100,000 in this instance are passed down to Paul's grandchildren and Jacob's children (Anastasia) when they are worth $7,650,000. This "skipping" skips the next generation, that is, Paul's children (Jacob).
The employee groups that deserve praise or may be subject to criticism for the total variable expenses flexible budget variance and the total fixed expenses flexible budget variance depends
Answer:
The employee groups that deserve praise or may be subject to criticism for the total variable expenses flexible budget variance and the total fixed expenses flexible budget variance depends on the factors that derives the overall variance which are production variances versus selling and administrative variances, including the separate variances that effect them on an individual basis.
Explanation:
In order to determine the employee group that deserves praise or criticism, each part of the budget must be looked at separately. The overall flexible budget may be favourable or unfavourable, however, the result of which might be due to production and/or selling & administrative budget being favourable or unfavourable. Details of which is shown below:
Production budget is derived from the result of total direct materials variance, total manufacturing overhead variance and total labour variance. When we go further the direct material variance is the result of direct material cost variance, which is under the supervision and responsibility of purchasing manager, and direct materials efficiency variance, which is controlled by the production manager.
The total direct labour variance is the result of the direct labour cost variance, which is handled by the human resource manager, and direct labour efficiency variance, which is also under the supervision of production manager.
The total variable manufacturing overhead variance is the result of variable overhead cost and efficiency variance, both of which is controlled by the production manager. While in the case of fixed overhead variance which is the result of fixed overhead cost variance, handled by the production manager, and fixed selling and administrative variance, which is being controlled by the marketing and/or sales manager.
Determining the effect of each variance (whether favourable or unfavourable) is the result of determining the whether and by how much an employee is to be praised or criticised.
Latiker, Inc., manufactures and sells two products: Product Y9 and Product W0. Data concerning the expected production of each product and the expected total direct labor-hours (DLHs) required to produce that output appear below:
Expected Production Direct Labor-Hours Per Unit Total Direct Labor-Hours
Product Y9 100 8 800
Product W0 100 10 1,000
Total direct labor-hours 1,800
The direct labor rate is $15.40 per DLH. The direct materials cost per unit for each product is given below:
Direct Materials Cost per Unit
Product Y9 $253.00
Product W0 $278.80
The company is considering adopting an activity-based costing system with the following activity cost pools, activity measures, and expected activity:
Activity Cost Pools Activity Measures Overhead Cost Product Y9 Product W0 Total
Labor-related DLHs $61,488 800 1,000 1,800
Machine setups setups 50,687 400 300 700
Order size MHs 155,754 5,000 5,200 10,200
$267,929
The activity rate for the Machine Setups activity cost pool under activity-based costing is closest to:
a. $31.15 per setup
b. $26.27 per setup
c. $29.95 per setup
d. $72.41 per setup
Answer: $72.41 per setups
Explanation:
The activity rate for the machine setups activity cost pool under activity-based costing would be calculated as the estimated overhead cost divided by the total expected activity. This will be:
= 50687/700
= $72.41 per setups
Therefore, the answer is $72.41 per setups.
Accounts payable $240,000 Common stock 780,000 Retained earnings 259,600 Total liabilities and stockholders' equity $1,279,600 Accounts payable at the end of December would be:
Answer:
$163,000
Explanation:
Account payable at the end of December is calculated as;
= Accounts payable - Accounts receivables (net of allowance for uncollectible accounts
Given that ;
Accounts payable = $240,000
Accounts receivables = $77,000
Accounts payable at the end of December = $240,000 - $77,000 = $163,000
Pharsalus Inc. just paid a dividend (i.e., D0) of $ 2.69 per share. This dividend is expected to grow at a rate of 3.8 percent per year forever. The appropriate discount rate for Pharsalus's stock is 14.3 percent. What is the price of the stock
Answer:
P0 = $26.5925 rounded off to $26.59
Explanation:
Using the constant growth model of dividend discount model, we can calculate the price of the stock today. The DDM values a stock based on the present value of the expected future dividends from the stock. The formula for price today under this model is,
P0 = D0 * (1+g) / (r - g)
Where,
D0 is the dividend paid recently
D0 * (1+g) is dividend expected for the next period /year
g is the growth rate
r is the required rate of return or cost of equity
P0 = 2.69 * (1+0.038) / (0.143 - 0.038)
P0 = $26.5925 rounded off to $26.59
Given an expected market return of 12.0%, a beta of 0.75 for Benson Industries, and a risk-free rate of 4.0%, what is the expected return for Benson Industries?
Answer:
Re = 10%
Explanation:
using the CAPM formula, the cost of equity is:
Re = risk free + (beta x market premium)
risk free = 4%market premium = market return - risk free = 12% - 4% = 8%beta = 0.75Re = 4% + ((0.75 x 8%) = 10%
Since the beta is lower than 1, this stock is less volatile than the market, that is why the required rate of return is lower than the market return.
Big Centex Corporation issued 2,000 shares of $10 par value common stock at $17 per share. When the transaction is recorded, credits are made to: Group of answer choices Common Stock, $34,000 Cash, $34,000 Common Stock, $20,000 and Paid-In Capital in Excess of Par Value, $14,000 Common Stock, $14,000 and Paid-In Capital in Excess of Par Value, $20,000
Answer:
Big Centex Corporation
When the transaction is recorded, credits are made to:
Common Stock, $20,000 and Paid-In Capital in Excess of Par Value, $14,000
Explanation:
a) Data and Calculations:
Issue of shares = 2,000
Par value of common stock = $10
Issue price = $17 (shares are issued at a premium of $7 per share.)
Common stock value = $20,000 (2,000 * $10)
Paid-in Capital in Excess of Par Value = $14,000 (2,000 * $7)
b) The shares of Big Centex Corporation have been issued at a premium, that is at a value or price which is above the par value of $10. The premium is $7. Therefore, the Common Stock will be credited with $20,000 representing the par value of the issued stock while the Paid-In Capital in Excess of Par Value will be credited with the excess or premium. These separate credits separate the premium per share from the par value of the issued shares.
You are about to form a corporation. What do you have to do before completing the for Which provisions are boiler plate and therefore, do not require special effort on your part.
Explanation:
Note, the term boilerplate is often used when referring to custom documents that can be reused in drafting similar document contexts without the need to make any major changes to the original document.
One example of such provisions is the articles of incorporation document. This document already has a standard template of what is needed in the form to be filed. It usually includes details about;
the name of the company,the type of corporate structure (eg Partnership, Limited liability company),the number of shares authorized,and the type of authorized shares, etc.So basically, anyone wanting to form a corporation would not require special effort to draft this document.
From 2006 to 2010, per capita real gross domestic product (GDP) in Japan grew an average of 0.46 percent per year. At that rate, according to the Rule of 70, in roughly how many years will the Japanese economy double in size?
Answer:
152.17 years
Explanation:
The rule of 70 is used to calculate how long it would take the GDP of a country to double given its growth rate
Number of years it would take GDP to double = 70 / average annual growth rate
70 / 0.46% = 152.17 years
Why is it important to demonstrate a positive work attitude in the workplace?
to be seen as trustworthy and reliable
to be seen as coachable and flexible
to be seen as willing to delegate tasks
to be seen as easily persuadable
Answer:
To be seen as trustworthy and reliable
Explanation:
Cause in a working environment, you want to be known as a trustworthy, and reliable worker. Which allows you to have much more career possibilitties.
Answer:
A. to be seen as trustworthy and reliable
Explanation:
i just took the test
f
(x+y - 1) dx + (х + 2y -3)dy =0
Answer:
We have dx and dy such that we take the derivative with respect to x and y ie dx/dy and dy/dx We treat y as a constant such that dx results in 1 The dx results in 1 The dy results in 2So 1+2 =3Consider Amanda and Zelda. They both will save $6,000 per year until they retire at age 70. Amanda and Zelda, however, will start saving at different ages. Amanda will start saving when she is 30 years old. Zelda will start saving when she is 50 years old. Assuming the interest rate each year is 8%, how much money will the first year of savings amount to when they retire
Answer:
Total FV= $1,828,910.9
Explanation:
Giving the following information:
Amanda:
Annual deposit= $6,000
Number of periods= 40 years
Interest rate= 8%
Zelda:
Annual deposit= $6,000
Number of periods= 20 years
Interest rate= 8%
To calculate the future value, we need to use the following formula:
FV= {A*[(1+i)^n-1]}/i
A= annual deposit
Amanda:
FV= {6,000*[(1.08^40) - 1]} / 0.08
FV= $1,554,339.11
Zelda:
FV= {6,000*[(1.08^20) - 1]} / 0.08
FV= $274,571.79
Total FV= $1,828,910.9
The compay has announced it is going to repurchase $32,500 worth of stock instead of paying a dividend of $1.30. a. What effect will this transaction have on the equity of the firm?
Answer:
Equity of the firm decreases by $32,500.
Explanation:
When a dividend is distributed, the following journal entry is created :
Dividend (debit)
Cash (credit)
Effect : This reduces the Owners Equity
When the firm repurchase $32,500 worth of stock the following journal is created :
Stock $32,500 (debit)
Cash $32,500 (credit)
Effect : Again the Equity of the firm decreases.
Lyon, a cash basis taxpayer, died on January 15 of the current year. During the current year, the estate executor made the required periodic distribution of $9,000 from estate income to Lyon's sole heir. The following information pertains to the estate's income and disbursements for the year. For the current calendar year, what was the estate's distributable net income (DNI)?
Estate Income:
$20,000 Taxable interest
$10,000 Net long-term capital gains allocable to corpus
Estate Disbursements:
$5,000 Administrative expenses attributable to taxable income
For the current taxable calendar year, what was the estate's distributable net income (DNI)?
a. $15,000
b. $25,000
c. $30,000
d. $20,000
Answer:
Lyon's Estate
For the current taxable calendar year, the estate's distributable net income (DNI) is:
a. $15,000
Explanation:
a) Estate's Income and Disbursements for the year:
Taxable interest = $20,000
Net long-term capital gains allocable to corpus = $10,000
Administrative expenses attributable to taxable income = $5,000
Therefore, DNI = $20,000 + $5,000 - $10,000 = $15,000
b) Lyon estate's distributable net income (DNI) is the income allocated to the beneficiaries of the trust created by Lyon before his death. The DNI is calculated with the trust's taxable income minus the capital gain or add the capital loss, and then adding the exemptions. The distributable net income is the maximum taxable amount received by a unitholder or a beneficiary.
You are convinced that a stock's price will move by at least 15% over the next 3 months. You are not sure which way the price will move, but you believe that the results of a patent hearing are definitely going to have a major effect on the stock price. You are somewhat more bearish than bullish however. Which one of the following options strategies best fits this scenario?
a. buy a strap.
b. buy a strip.
c. write a straddle.
d. buy a straddle.
Answer:
b. buy a strip.
Explanation:
The strip is the option strategy in which we can purchase two options and one call option at the similar strike price and the similar maturity time period. It should be considered at that case when there is high expectation in bearish as compared with the bullish.
Since in the question it is mentioned that there is more bearish than bullish so here the buy a strip would be relevant
hence, the option b is correct
Hickenlooper Company retired a $900,000, 7% bond issue at 98. If the unamortized discount is $7,200, the entry will include a:
a. Debit to loss on bond retirement for $7,200
b. Credit to gain on bond retirement for $7,200
c. Debit to loss on bond retirement for $10,800
d. Credit to gain on bond retirement for $10,800
Answer:
d.Credit to gain on bond retirement for $10,800
Explanation:
Based on the information given we were told that the Company retired the amount of $900,000 which includes 7% bond issue at 98 which means that If the unamortized discount is $7,200, the journal entry will include a:Credit to gain on bond retirement for $10,800 calculated as
Dr bond payable $900,000
Cr Gain on retirement $10,800
[($900,000-$882,000)-($7,200)]
Cr Discount on Bond $7,200
Cr Cash $882,000
(98%*9/$900,000)
The company retirement refers to the phase of the firm when the firm permanently chooses to leave the operation and functioning of the market.
The correct answer is d. Credit to gain on bond retirement for $10,800
The Company retired the amount of $900,000 which includes a 7% bond issue at 98 which means that If the unamortized discount is $7,200, the journal entry will be:
Credit to gain on bond retirement for $10,800bond payable $900,000 (Dr)
Gain on retirement $10,800 (Cr)
Discount on Bond $7,200 (Cr)
Cash $882,000 (Cr)
(Being entry of retirement of the bonds of the company)
Gain on retirement= ($900,000-$882,000)-($7,200)
Cash= [tex]\begin{aligned}(98\%\times\frac{9}{900000})\end{aligned}[/tex]
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On July 1, 2011, Hale Kennels sells equipment for $66,000. The equipment was originally purchased on July 1, 2007 at a cost $180,000, had an estimated 5-year life and an expected salvage value of $30,000. The company books depreciation annually. What is the balance in Accumulated Depreciation as of December 31, 2010? What is the journal entry to update depreciation as of July 1, 2011? What is the journal entry to record the sale of the equipment?
Answer:
journal entry to update depreciation as of July 1, 2011
Depreciation Expense $16,000 (debit)
Accumulated Depreciation $16,000 (credit)
journal entry to record the sale of the equipment
Cash $66,000 (debit)
Accumulated Depreciation $128,000 (debit)
Equipment $180,000 (credit)
Profit and Loss $14,000 (credit)
Explanation:
If Hale Kennels uses the straight line method then the calculations will be as follows :
Annual Depreciation Charge = (Cost - Residual Value) ÷ Estimated Useful Life
= ($180,000 - $30,000) ÷ 5
= $32,000
Therefore,
Depreciation Charges for the period in use will be as follows :
2007 = $16,000 ($32,000 × 1/2)
2008 = $32,000
2009 = $32,000
2010 = $32,000
2011 = $16,000 ($32,000 × 1/2)
Total Accumulated depreciation = $128,000
Explaining journal entry to record the sale of the equipment
1. Derecognize the Cost of the Asset
2. Derecognize the Accumulated depreciation
3. Recognize the Cash Proceeds
4. Recognize the Profit or Loss arising from the sale
Choose an organization and identify an area in which it needs to communicate a change. What type of change agent and change model needs to be implemented
The correct answer to this open question is the following.
Choose an organization and identify an area in which it needs to communicate a change. The area that needs change is Human Resources of the main plastic fabric located in my community.
The type of change agent is one-on.one meeting managed by the Human Resources manager.
The change model that needs to be implemented would be the "John Kotter 8 step change model."
This interesting model invites managers to create a sense of urgency, get all the employees to believe in the change, to implement it successfully.
The model had to be established from the top of the organizational hierarchy so it can be valid and implemented from the top to the bottom of the organization. Top management is the first to set the example of the changes that should be implemented so employees can see that the "bosses" are the first ones to assume the role of change.
The Steel Factory is considering a project that will produce annual cash flows of $43,800, $40,200, $46,200, and $41,800 over the next four years, respectively. What is the internal rate of return if the initial cost of the project is $127,900
Answer: 13%
Explanation:
The Internal Rate of Return is the discount rate that brings the Net Present Value to zero.
One can use Excel to solve for this;
= IRR(-127900, 43800, 40200, 46200, 41800)
= 13%
Select the correct answer.
Shantel Inc. has issued a certification that its financial statements give a fair view of the company's financial condition. Which section does this certification comply with?
А. Section 302
B. Section 401
c. Section 404
D. Section 309
Please explain
Answer: A- section 302
Explanation: these are the clauses in section 302
Certification stating that all the reports have been reviewed before being signed
Certification that the financial reports are genuine and do not contain any misleading or untrue information
Certification that the financial statements give a fair view of the company’s financial condition
Certification confirming that the company’s internal controls have been examined by the signing officers in the past 90 days, and the findings have been reported
Certification that includes a list of all inadequacies found in the internal controls, as well as information concerning theft, misuse, or fraud involving the company’s employees
Certification stating any major changes in the internal controls that might have an adverse effect on the system
Section 302 of the Act deals with certification of declaration giving a fair view of the financial statements of the company's position.
What is the significance of the section 302?The section 302 of the Sarbanes-Oxley Act maintains that every company under the eyes of the law is required to get its financial statements certified by declaration that they show true and fair position of the company with respect to its profits and losses.
Hence, option A holds true that section 302 deals with the fair representation of company's financial statements.
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