The Sarbanes-Oxley Act Requires That an Internal Control Report Be

question 25

Multiple Choice

The Sarbanes-Oxley Act requires that an internal control report be included in every company's annual report. Which one of the following is NOT one of the requirements of the internal control report?

• A) Contain an assessment by management of the internal control structure
• B) State the responsibility of management to maintain an adequate control structure
• C) Describe in detail the internal controls of the company
• D) Contain an independent assessment by an independent auditor of the reliability of internal controls

Identify and use effective presentation visuals and their impact on meetings.

Learn the structure and necessary components for the body of a presentation.

Comprehend the process for planning, preparing, and rehearsing presentations.

Distinguish between different presentation styles and their appropriate contexts.

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Definitions:

Stockholders' Equity

The residual assets of a company that belong to shareholders after all liabilities have been subtracted, representing ownership interest.

Return On Assets

An overall measure of profitability; computed by dividing net income by average total assets.

Net Income

The total earnings or profit a company generates, calculated as revenue minus expenses, taxes, and deductions.

Total Assets

The sum of all resources owned by a company that have economic value and can be converted into cash, including property, equipment, and cash itself.