Prior to the Sarbanes-Oxley Act of 2002, the was responsible for creating all new auditing standards in the United States. Today, for publicly held companies, that responsibility rests with the . Multiple Choice Financial Accounting Standards Board [FASB]; Securities and Exchange Commission [SEC]. AICPA Auditing Standards Board [ASB]; Securities and Exchange Commission [SEC]. Financial Accounting Standards Board [FASB]; Public Company Accounting Oversight Board [PCAOB]. AICPA Auditing Standards Board [ASB]; Public Company Accounting Oversight Board

Salt corporation's contribution margin ratio is 78% and its fixed monthly expenses are $30,000. assume that the company's sales for may are expected to be $89,000. required: estimate the company's net operating income for may, assuming that the fixed monthly expenses do not change.

Schuepfer inc. bases its selling and administrative expense budget on budgeted unit sales. the sales budget shows 1,800 units are planned to be sold in march. the variable selling and administrative expense is $4.30 per unit. the budgeted fixed selling and administrative expense is $35,620 per month, which includes depreciation of $2,700 per month. the remainder of the fixed selling and administrative expense represents current cash flows. the cash disbursements for selling and administrative expenses on the march selling and administrative expense budget should be:

Janis owns and operates a store in a country experiencing a high rate of inflation. in order to prevent the value of money in her cash register from falling too quickly, janis sends an employee to the bank four times per day to make deposits in a interest-bearing account that protects the store's revenues from the effects of inflation. this is an example of the (menu costs/ unit of account costs/ shoesleather costs) of inflation. pick one