According to the PCAOB, Who Is Responsible for the Reliability

question 59

Multiple Choice

According to the PCAOB, who is responsible for the reliability of the internal controls over financial reporting process of an entity?

• A)The entity's CEO and/or CFO.
• B)The entity's board of directors.
• C)An internal control specialist.
• D)The external auditor.

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Definitions:

Option Price

The price at which the holder of an option can buy (in the case of a call option) or sell (in case of a put option) the underlying asset.

Put Option Contracts

A financial instrument that gives the holder the right, but not the obligation, to sell a specified amount of an underlying security at a predetermined price within a specified time frame.

Exercise Price

The specified price at which the holder of an option can buy (in the case of a call option) or sell (in the case of a put option) the underlying security or commodity.

Option Price

The cost at which an option's holder has the right to purchase (for a call option) or sell (for a put option) the underlying asset or commodity.