Which of the following is NOT a requirement in management's report on the effectiveness of internal controls over financial reporting?
a. A statement of management's responsibility for establishing and maintaining adequate internal control user satisfaction.
b. A statement that the organization's internal auditors has issued an attestation report on management's assessment of the company's internal controls.
c. A statement identifying the framework used by management to conduct their assessment of internal controls.
d. An explicit written conclusion as to the effectiveness of internal control over financial reporting.
B
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a. 10 b. 25 c. 50 d. 75
Which of the following corresponds to the use of tacit knowledge?
A. Igor assembles a motorcycle from memory. B. Miguel studies a fact sheet about France. C. Paulette uses a scientific article to defend her thesis about global warming. D. Chandra reads a demographic report about minorities in Texas.
Estate planning is an ongoing analysis of what a person owns or expects to own (assets), and what he or she owes to others (liabilities)
Indicate whether the statement is true or false