The Board of Directors Is Essential for Effective Corporate Governance

question 9

Multiple Choice

The board of directors is essential for effective corporate governance because it has ultimate responsibility to

• A)make sure management implements proper internal control and financial reporting processes.
• B)assist management in the preparation of the financial statements.
• C)test internal controls and ensure they are working properly.
• D)provide a report to the auditor confirming that internal controls are working properly.

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Definitions:

Crackles

Sounds heard in the lungs during inhalation that are indicative of fluid in the air spaces, which can be associated with conditions like pneumonia or heart failure.

Left-Sided Heart Failure

Abnormal condition characterized by impaired functioning of the left ventricle caused by elevated pressures and pulmonary congestion.

Breathing

The physiological process of taking in oxygen from the air and expelling carbon dioxide, essential for life in many organisms.

Mitral Valve

A valve in the heart that lies between the left atrium and left ventricle, which ensures one-way flow of blood from the atrium to the ventricle.