Enterprise Risk Management is the response of the accounting profession to corporate fraud

Discuss the internal environment and identify the elements that comprise the internal environment

What will be an ideal response?

Young Corporation's capital stock at December 31 consisted of the following: (a) Common stock, $2 par value; 100,000 shares authorized, issued, and outstanding. (b) 10% noncumulative, nonconvertible preferred stock, $100 par value; 1,000 shares authorized, issued, and outstanding. Young's common stock, which is listed on a major stock exchange, was quoted at $4 per share on December 31 . Young's

net income for the year ended December 31 was $50,000 . The yearly preferred dividend was declared. No capital stock transactions occurred. What was the price earnings ratio on Young's common stock at December 31? a. 6 to 1 b. 8 to 1 c. 10 to 1 d. 16 to 1