There Are a Number of Increased Reporting Requirements as the Result

question 93

Multiple Choice

There are a number of increased reporting requirements as the result of Sarbanes-Oxley and IFRS.These requirements have made it imperative for companies to:

• A)Adjust the systems and controls
• B)Collect additional information needed for compliance.
• C)Well organized with the right resources to carry out the new tasks.
• D)All of the above are required.

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Definitions:

Debt Securities

Financial instruments that signify amounts owed by the issuer to the holder and include terms regarding repayments and interest rates.

Trading Securities

Financial assets bought and held primarily for sale in the short term to generate income on short-term price differences.

Investment Account

An account held at a financial institution or brokerage that holds assets like stocks, bonds, mutual funds, and other investments.

Cash Dividends

Payments made by a corporation to its shareholders from its profits in the form of cash.