Which of the following is not a provision of the Sarbanes-Oxley Act?
A. Management must issue a report that indicates whether internal controls are effective at preventing errors and fraud.
B. Executives can avoid penalties for fraud by declaring personal bankruptcy.
C. Public companies must adopt a code of ethics for senior financial officers.
D. Stiffer penalties for fraud in terms of monetary fines and jail time decrease the incentive to commit fraud.
Answer: B
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A typical purchasing manager
A. seeks the lowest possible cost. B. tries to satisfy both individual needs and company needs. C. has the final decision on all purchases. D. buys strictly on economic needs. E. All these answers are correct.
The fraud triangle includes incentive, opportunity and an attitude to rationalize the fraud.
Answer the following statement true (T) or false (F)
Many developing countries have experienced increases in their young adult population. What factors have led to this phenomenon ?
a. Increased marriages b. Public health knowledge c. Greater unemployment d. Influx of younger immigrants
How is MTBF related to FR(N)?
A) MTBF is measured in hours, while FR(N) is measured in years. B) MTBF is normally distributed, with FR(%) as its mean and FR(N) as its standard deviation. C) MTBF is the reciprocal of FR(N). D) Both MTBF and FR(N) increase when breakdown maintenance is replaced by preventive maintenance. E) MTBF and FR(N) are unrelated concepts.