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what is going concern assumption?
Going concern assumption: An accounting guideline which allows the readers of financial statements to assume that the company will continue on long enough to carry out its objectives and commitments. [ In other words, the accountants believe that the company will not liquidate in the near future. This assumption also provides some justification for accountants to follow the cost principle. ]
Expert answered|jeifunk|Points 9798|
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Asked 5/30/2013 3:59:50 PM
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what are internal control environments for a large corporation?
Weegy: Internal control systems operate at different levels of effectiveness. [ Internal control can be judged effective in each of the three categories, respectively, if the board of directors and management have reasonable assurance that: They understand the extent to which the entity's operations objectives are being achieved. ·Published financial statements are being prepared reliably. ·Applicable laws and regulations are being complied ... (More)
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Updated 5/25/2013 2:00:51 PM
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prettyqueen13, when you take information from another website, you must provide a link to the source.

Please read the rules
Added 5/25/2013 2:00:51 PM
what are the social responsibilies of xerox corporation
Weegy: here are the social responsibilities of Xerox corporation. Joseph McGuire, in 1963, stated that “social responsibilities supposes that the corporation has not only economic and legal obligations, but also certain responsibilities to society”. [ It means that Xerox as a manufacturer, “plays an important role in influencing the sustainability of our environment”. (xerox.com, 2007) Source: ( ] (More)
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Asked 5/25/2013 4:48:48 PM
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what accounting principle did xerox violate?
Weegy: Xeros violated the generally accepted accounting principles (GAAP). (More)
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Asked 5/26/2013 1:49:49 PM
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what were the internal control problems of Xerox and accounting?
Weegy: The Security Exchange Commission requests ts that Xerox be enjoined from further violations of the antifraud and other provisions of the federal securities laws as alleged herein, [ that it be required to restate its financial results for the periods 1997 through 2000, that it pay a monetary penalty, and that its Board of Directors appoint a special committee of outside directors that shall retain a qualified consultant, not unacceptable ... (More)
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Asked 5/28/2013 6:22:39 PM
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what were the internal control violations of Xerox and its accounting management?
Weegy: The Security Exchange Commission requests ts that Xerox be enjoined from further violations of the antifraud and other provisions of the federal securities laws as alleged herein, [ [ that it be required to restate its financial results for the periods 1997 through 2000, that it pay a monetary penalty, and that its Board of Directors appoint a special committee of outside directors that shall retain a qualified consultant, not ... (More)
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Asked 5/28/2013 7:16:27 PM
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