The Sarbanes-Oxley Act (SOX) has important implications for the financial community. Explain two implications of SOX.
Answer to relevant QuestionsHoskins Inc. owns the following assets at the balance sheet date.Cash in bank—savings account .......... $ 8,000Cash on hand.................. 1,100Cash refund due from the IRS........... 1,000Checking account ...Roy Luber is uncertain about the control features of a bank account. Explain the control benefits of (a) A checking account and (b) A bank statement.Degelman Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2014, Job No. 50 was the only job in process. The costs incurred prior to January 1 on this ...The degree of operating leverage for Montana Corp. and APK Co. are 1.6 and 5.4, respectively. Both have net incomes of $50,000. Determine their respective contribution margins.Using the information in P23-2A, compute the overhead controllable variance and the overhead volume variance.
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