Two Main Steps in Enforcement Are

question 19

Multiple Choice

Two main steps in enforcement are

• A) monitoring and sanctioning.
• B) moral suasion and evasion.
• C) developing technology and attending court.
• D) reporting to the GAO and ensuring compliance.

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Definitions:

Economic Events

Transactions or occurrences that affect the financial position of a company, requiring recording in the financial statements.

Internal User

Refers to individuals within an organization who use financial information to make decisions, including managers and employees.

Accounting Information

Financial data and reports derived from accounting practices, used by stakeholders to make informed decisions regarding a company or entity.

Financial Reporting

The method of generating reports that reveal a company's financial condition to its management, investors, and governmental bodies.