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Question 1: What theory or theories might a court use to hold Wallace liable for insider trading? The Expectancy violation theory can be used by a court to hold Wallace into account. The theory states that deception is perceived from nonverbal behavior that violates nominative expectations (Bond et al. 40). In this case, Wallace used the information during hangout for personal gain. Additionally, the court can examine the history between Wallace and Emerson's behavioral actions after business dealings or sharing crucial information pieces.
Question 2: Under the Sarbanes-Oxley Act, who would be required to certify the accuracy of the financial statements Reliant filed with the SEC . Sarbanes-Oxley Act of 2002 is a law passed in the US which helps to protect investors from dishonest financial reporting by companies. According to section 18 of the US Code, financial statements filed by the insurer must be accompanied by an acknowledgment from the insurer CEO and CFO. In this case, Emerson is the chief financial officer and must certify the company financial statement together with the chief executive officer.
This company has 500,000 shares authorized and 100,000 shares outstanding. Prepare the journal entries required on July and August
Assume that this information was used to construct the following formula for monthly labor cost. Calculate total variable labor cost for the coming year
What evidence that an auditor would use by illustrating the audit trail of stock purchases?
On January 1, Dooley Company has a beginning cash balance of $63,000. During the year, the company expects cash disbursements of $510,000 and cash receipts of $435,000. If Dooley requires an ending cash balance of $60,000, Dooley Company must borr..
Wright Company uses the gross method and a perpetual inventory system. Assuming the following entries, compute the amount that Wright Company received
The armstrong corporation developed a flexible budget for its production process. What is Armstrongs direct material price variance
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A supplier has offered your company a 1% discount for all bills that are paid 15 days after they are billed. The bills would normally be due 45 days.
Justify the percentage of ownership the client's daughter should have in the business based on the type of business entity recommended
What are the basic assumptions of CVP analysis with regard to variable cost, fixed cost, and selling price per unit
Make the journal entry to record pension expense, gains or losses, past service cost, funding, and payment of benefits for 2016
The declaration date for a dividend is the date on which the company: A. debits dividends declared and credits dividends payable for the amount of the dividend B. debits dividends expense and credits cash for the dividend amount
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