According to the Sarbanes-Oxley Act (SOX),who Are Possible Members of the Audit

question 111

Multiple Choice

According to the Sarbanes-Oxley Act (SOX) ,who are possible members of the Audit Committee?

• A)The president of the company.
• B)Chief financial officer of the company.
• C)Independent directors.
• D)External auditors.

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Definitions:

Inventory Item

A product or goods held by a company for the purpose of sale or production in the normal course of business.

Inventory Turnover

Inventory turnover is a ratio that measures how many times a company's inventory is sold and replaced over a specific period, indicating efficiency in inventory management.

Average Daily Cost

The total cost associated with a process or product divided by the number of days in the period being considered.

Days' Sales

A financial metric, often calculated as days sales outstanding (DSO), that measures the average number of days it takes a company to collect payment after a sale has been made.