What are management responsibilities under Sections 302 and 404 of SOX?
Section 302 requires that corporate management (including the CEO) certify their organization's internal controls on a quarterly and annual basis. Section 404 requires the management of public companies to assess and formally report on the effectiveness of their organization's internal controls.
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Banks seeking to move into investment services will often act as the distributor for mutual fund products created by an investment firm that lacks extensive distribution channels of its own
Indicate whether the statement is true or false
White, Gray, and Greene enter into a contract to form a partnership, but the contract says nothing about the sharing of profits and losses. Which of the following will take place?
A) Profits and losses will be shared in a ratio based on the dollar amount of their capital investments. B) Profits will be shared equally; losses will be absorbed based on dollar amount of capital investment. C) Profits will be based on amount of time each partner spends working for the firm; losses will be shared equally. D) Profits and losses will be shared equally.
Why is the debt limit ratio and 28/36 rule more important to conservative lenders like Banks and Credit Unions and not so important for lenders like small Finance companies and Payday lenders?
What will be an ideal response?
On a particular day, a mining company reveals that, due to new extraction technology, the extractable yield from several of its nickel/lead mines has risen by 15%. Which of the following is the LEAST likely consequence of such an announcement?
A) The price of the stock would rise. B) Investors would determine that the estimates of the firm's value on the date prior to the announcement were too high. C) Investors would increase their forecast of future cash flows in that firm. D) Investors would revise their estimates of the net present value (NPV) of the firm.