Both the SEC and the PCAOB have expressed an opinion as which internal control framework an organization should use to comply with SOX legislation. Explain


Both the SEC and PCAOB endorse the SAS 7/COSO framework but any framework can be used that encompasses all of the SAS 78/COSO's general themes

Business

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Mass merchandisers are usually high-markup, lower-volume stores

Indicate whether the statement is true or false

Business

An implied warranty of habitability:

A. guarantees that a house is free of hidden defects that would render it unsafe for human habitation. B. is limited to the first buyer and does not extend to subsequent purchasers of a property. C. when breached, subjects the defendant to liability measured only by the cost of repairs. D. applies to any ordinary seller of a house, and not just builders, builder-vendors, and developers.

Business

Which of the following DBMS evaluation categories does the following question relate to: How many files can you open at the same time?

A. Concurrent update B. Security C. Integrity D. Limitations

Business

Pro forma income statements are primarily based on forecasted sales and assumed relationships related to sales

Indicate whether the statement is true or false

Business