Which of the Following Is a Requirement of the CSA

question 30

Multiple Choice

Which of the following is a requirement of the CSA?

• A) Public corporations must ensure financial statements are independently audited.
• B) Public corporations must ensure their boards have foreign representation.
• C) Public corporations must explain why the corporation is not adhering to best practices.
• D) Public corporations must publish quarterly financial statements.

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Definitions:

Account Balance

The sum of money available in a financial account at a specific moment.

Trial Balance

A trial balance is a bookkeeping worksheet wherein the balances of all ledgers are compiled into debit and credit account columns to ensure total debits equal total credits.

Debits

Debits are accounting entries that increase asset or expense accounts, or decrease liability, equity, or revenue accounts.

Credits

Entries in accounting that increase liabilities or equity accounts, or that decrease asset or expense accounts, reflecting the sources of funds.