According to the Foreign Corrupt Practices Act of 1977 (FCPA), companies that have securities listed on U.S. markets must make and keep financial records that accurately and fairly reflect the transactions of the company and design and maintain an adequate system of internal accounting controls
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
The net income for the year ended was $720,000; total assets at the beginning of the year was $2,100,000; and total assets at the end of the was $2,300,000 . The return on total assets would be
a. 1.1%. b. 3.1%. c. 11.2%. d. 32.7%.
Which one of the following is not an external user of financial information?
a. IRS b. Company management c. Creditors d. Stockholders
Under international accounting standards, cash received from dividends (associated with dividend revenue) can be shown on the statement of cash flows as
a. an operating or a financing activity b. a financing activity only. c. a financing or an investing activity. d. an investing activity only.
Email has made business communication inexpensive, virtually instantaneous, and—most important—far less __________
a. interesting b. time consuming c. trustworthy d. reliable