Which of the Following Is True

question 228

Multiple Choice

Which of the following is true?

• A) Equity is defined under GAAP as the residual interest in the liabilities of the company.
• B) IFRS companies have agreed to adopt the Sarbanes-Oxley Act related to internal control in 2015.
• C) Transaction analysis is basically the same under GAAP and IFRS.
• D) Financial frauds have not occurred in U.S. companies because GAAP has detailed accounting and disclosure requirements.

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Definitions:

PR Disaster

A situation where poor handling of public relations causes significant harm to a brand's or individual's reputation.

Crisis Communication

A sub-discipline of public relations aimed at protecting and defending an individual, company, or organization facing a public challenge to its reputation.

Issues Management

The process of identifying, analyzing, and responding to issues that could potentially impact an organization's reputation and operations.

Recovery Stage

In crisis management, the recovery stage is the phase where an organization begins to recover from a crisis, focusing on restoring operations, repairing damages, and improving relationships with stakeholders to regain trust.