Which of the following is NOT an implication of section 302 of the Sarbanes-Oxley Act?
a. Auditors must determine, whether changes in internal control has, or is likely to, materially affect internal control over financial reporting.
b. Auditors must interview management regarding significant changes in the design or operation of internal control that occurred since the last audit.
c. Corporate management (including the CEO) must certify monthly and annually their organization's internal controls over financial reporting.
d. Management must disclose any material changes in the company's internal controls that have occurred during the most recent fiscal quarter.
C
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In the FABV approach, ________ describe the economic, technical, service, and social pluses delivered
A) features B) advantages C) benefits D) value E) macroenvironment
________ is the value of a firm's ownership in the event that all assets are sold for their exact accounting value and the proceeds remaining after paying all liabilities (including preferred stock) are divided among common stockholders
A) Liquidation value B) Book value C) The P/E multiple D) The present value of the common stock
Social Security benefits are funded by:
A) legally required assessments on employers. B) taxes paid by both employers and employees, or by self-employed persons. C) the federal tax on corporations. D) a combination of federal and state taxes.
Refer to Table 4-2. The Net Profit Margin ratio for 2008 was approximately
A) 0.06. B) 0.20. C) 0.10. D) 0.12.