Name three Sarbanes-Oxley Act requirements and duties of the members of the audit committee of a public company.
What will be an ideal response?
Students must provide three of the following:
1. Each member of the audit committee must be a member of the board of directors and must be independent.
2. The audit committee is directly responsible for the appointment, compensation, and oversight of the work of any registered public accounting firm employed by the company.
3. The audit committee must preapprove all audit and nonaudit services provided by its auditor.
4. The audit committee must establish procedures for the receipt, retention, and treatment of complaints received by the company regarding accounting, internal control, and auditing.
5. Each audit committee member must have the authority to engage independent counsel, or other advisors, as he or she deems necessary to carry out his or her duties.
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Selective perception is best described as ______.
a. choosing to see and hear information based on personal relevance b. concentrating on one part of the environment while not paying attention to the rest c. exposing oneself to values and beliefs that are similar to one’s own d. retaining information from one’s past
If a guest complaint is resolved on the spot, the probability of getting future business from that guest is said to be about _____.
a. 10 percent b. 30 percent c. 67 percent d. 95 percent
Using ________ pricing, companies are able to turn their trash into cash, allowing them to make the price of their main product more competitive
A) product bundle B) optional product C) captive product D) by-product E) product line
In which dimension of a use case can latent needs appear?
a. Before use b. During use c. After use d. All of the above