Under Sarbanes-Oxley, auditors must retain their work papers:
A) for one year
B) for three years.
C) for five years.
D) until they no longer represent a client.
C
You might also like to view...
Which of the following is best for providing additional benefits to prospects through peer-to-peer networking and posting career opportunities?
A. Facebook B. LinkedIn C. Instagram D. Twitter
Bioinformatics combines ____ and computer science.
A. biology B. biometrics C. biographies D. biotechnology
Answer the following statements true (T) or false (F)
1. The Dividends account is normally closed by debiting it. 2. After posting the entries to close all revenue and expense accounts, the Income Summary account of Cleaver Auto Services has a $4,000 debit balance. This result implies that Cleaver earned a net income of $4,000. 3. After posting the entries to close all revenue and expense accounts, Marker Company's Income Summary account has a credit balance of $6,000, and its Dividends account has a debit balance of $2,500. These balances indicate that net income for the current accounting period amounted to $3,500. 4. When there is a net loss, the Income Summary account would have a credit balance. 5. The Income Summary account is used to close the permanent accounts at the end of an accounting period.
________ is an arrangement in which a financial institution makes money available for use at any time after the loan has been approved
A) Corporate bond B) Factoring C) Line of credit D) Lease agreement E) Commercial paper