Which of the Following Acts Requires All Companies to Set

question 49

Multiple Choice

Which of the following acts requires all companies to set up a system of internal controls to provide reasonable assurance that the company's records accurately and fairly reflect its transactions?

• A)The Foreign Corrupt Practices Act of 1977
• B)The Private Securities Litigation Reform Act of 1995
• C)The Market Reform Act of 1990
• D)The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005

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Definitions:

Innocently

Without guilt, harm, or malice; in a manner free from wrongdoing or deception.

Induce

To lead or move by persuasion or influence, often to do something.

Rescission

The act of canceling or invalidating a contract, returning all parties to their state prior to the contract.

Award

A formal acknowledgment, often involving a monetary gift, given in recognition of an achievement or as a decision in arbitration and legal matters.