Which of the following is not a requirement of SOX Section 404?
A. Evaluate the design of the company's controls to determine if they adequately address the risk that a material misstatement of the financial statements would not be prevented or detected in a timely manner.
B. Gather and evaluate evidence about the operation of controls.
C. Implement key controls to determine their operating efficiency.
D. Present a written assessment of the effectiveness of internal control over financial reporting.
Answer: C
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The product life-cycle concept from microeconomics and marketing provides useful insights into the relations between cash flows from operating, investing, and financing activities. When a product matures
a. net income usually reaches a peak. b. working capital declines. c. operations generate negative cash flow. d. all of the above. e. none of the above.
Which of the following does the chapter list as functions of meetings?
A. informational or fact-finding B. problem solving C. decision-making D. all of these are correct
Which of the following is an internal factor that can influence the rates at which employees are paid?
A. Labor market conditions B. Collective bargaining C. The employer's ability to pay D. Cost of living