Which of the Following Statements Is True with Respect to Audit

question 40

Multiple Choice

Which of the following statements is True with respect to audit committees?

• A)Audit committee members should consist of members of the company's management.
• B)All members of the audit committee must be financial experts.
• C)The audit committee of a public company is responsible for hiring the auditor.
• D)Audit committees must have a minimum of ten members.

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Definitions:

Esteem Needs

Psychological requirements for respect, self-esteem, and recognition, as part of Maslow's hierarchy of needs.

Affiliation Needs

The human desire to belong to a group, be accepted, and maintain relationships with others, driving social interactions.

Security Needs

Basic human requirements for safety and stability, including physical safety, employment, resources, health, and property, as essential for well-being.

Physiological Needs

Basic human necessities required for survival, such as food, water, shelter, and sleep; the foundational level in Maslow's hierarchy of needs.