Internal control systems are:
A. Developed by the Securities and Exchange Commission for public companies.
B. Required by Sarbanes-Oxley (SOX) to be documented and certified if the company's stock is traded on an exchange (a public company).
C. Developed by the Internal Revenue Service for all U.S. companies.
D. Developed by the Small Business Administration for non-public companies.
E. Required only if a company plans to engage in interstate commerce.
Answer: B
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Indicate whether the statement is true or false
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What will be an ideal response?
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