Indicate Whether Each of the Following Statements About Corporate Governance

question 72

Essay

Indicate whether each of the following statements about corporate governance is true or false.a)The Financial Accounting Standards Board issues a code of ethical behavior by which public accountants must abide.b)The Sarbanes Oxley Act created the Public Company Accounting Oversight Board (PCAOB).c)Because of the Sarbanes Oxley Act, audit firms are not permitted to provide many nonaudit services to audit clients.d)The fraud triangle identifies opportunity, pressure, and rationalization as the three elements that are typically present when fraud is committed.e)An executive found guilty of falsely certifying a company's financial statements faces up to a $100,000 fine and five years in prison.

---

Definitions:

Markdown Timing

The strategic determination of when to reduce the selling price of goods, typically to clear outdated or excess inventory.

Valuable Selling Space

Locations or areas within a retail environment considered most effective for displaying products to attract customers and encourage purchases.

Everyday Low Pricing

A pricing strategy where a retailer consistently offers products at low prices rather than relying on sales or discounts, aimed at attracting price-sensitive customers.