Which Individual or Group Has the Responsibility to Establish, Enforce

question 57

Multiple Choice

Which individual or group has the responsibility to establish, enforce, and exemplify the principles of ethical conduct within an organization?

• A)Board of Directors
• B)Securities and Exchange Commission
• C)Management
• D)Audit Committee

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Definitions:

Foreign Exchange Loss

A decrease in domestic currency value due to holding foreign currency or financial instruments as they depreciate against the home currency.

Forward Contract

A financial instrument agreement to buy or sell an asset at a predetermined future date and price.

Spot Rate

The present going rate for a specific currency to be purchased or exchanged, available for prompt delivery.

Hedge

A financial strategy used to reduce the risk of adverse price movements in an asset.