What are the key points of the section 404 of the Sarbanes-Oxley Act?
Section 404 requires the management of public companies to assess the effectiveness of their organization's internal controls. This entails providing an annual report addressing the following points: (1) a statement of management's responsibility for establishing and maintaining adequate internal control; (2) an assessment of the effectiveness of the company's internal controls over financial reporting; (3) a statement that the organization's external auditors have issued an attestation report on management's assessment of the company's internal controls; (4) an explicit written conclusion as to the effectiveness of internal control over financial reporting, and (5) a statement identifying the framework used in the assessment of internal controls.
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The economic development that meets the needs of the present without compromising the ability of future generations to meet their own needs is known as
a. sustainability. b. ethical growth. c. economic security. d. strategic planning. e. philanthropic growth.
Answer the following statements true (T) or false (F)
1. One of the easiest ways to assess how the environment influences the guest expectations is the rest room test, which shows how much cleanliness is made a priority. 2. Maintaining the guest mood is best done by maintaining the consistency between what the guest expects to see and what they actually see. 3. Businesses that pay attention to environmental details show employees that they care about guest’s satisfaction and service quality, but not necessarily their own employee satisfaction. 4. With increased level of service comes an expectation of an increased level of service setting. 5.The logical placement of restrooms in a hotel lobby or amusement park is part of functional congruence.
Which of the following documents stated fundamental concepts of financial reporting that would serve as a foundation for the opinions of the APB?
a. “Objectives of Financial Statements” (Trueblood Committee Report) b. “Basic Concepts and Accounting Principles Underlying Financial Statements of Business Enterprises” (APB Statement 4) c. “A Statement of Basic Accounting Theory” (ASOBAT) d. “Statement of Accounting Theory and Theory Acceptance” (SATTA)
Which of the following fragrances would you use to relax and calm customers?
a. Lemon b. Black pepper c. Lavender d. Eucalyptus e. Rose