Which of the following changes introduced by the Sarbanes-Oxley Act is intended to counteract incentives for fraud?
A. Code of ethics
B. Stiffer fines and prison terms
C. Anonymous tip lines
D. Stronger oversight by directors
Answer: B
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When answering requests and a potential sale is involved, one important goal is to
A) leave your audience with a good impression of you and your firm. B) provide negative information about any possible competitors. C) use hard sell techniques to pressure the reader into making the purchase. D) answer only those questions that present your product or firm in a positive light. E) encourage an immediate sale by offering an incentive for an immediate purchase.
Which of the following statements about accounting systems is incorrect?
a. An effective accounting system provides an audit trail that allows frauds to be discovered. b. An effective accounting system makes concealment difficult. c. An effective accounting system can effectively prevent "kickbacks." d. Without a good accounting system, it is often difficult to distinguish between actual fraud and unintentional error.
A statement of owner's equity reports the changes in the owner's equity for a period of time
Indicate whether the statement is true or false
Which of the following would not be considered a good managerial tool in making a decision for determining a capital investment?
A) Further evaluate assets that are dissimilar in nature or have different useful lives B) Using only quantitative measures to purchase an asset C) Analyzing the lease vs purchase option. D) Consider income tax ramifications.