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

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Definitions:

Equilibrium Price

The cost where the amount of a product or service sought by consumers matches the amount available, achieving equilibrium in the market.

Supply and Demand

A fundamental economic model that explains how the price and quantity of goods and services are determined in a market through the interaction of suppliers and consumers.

Equilibrium Quantity

The amount of goods or services supplied that is exactly equal to the amount of goods or services demanded at a given price.

Multi-Touch Screens

Interactive display technology that recognizes simultaneous touches by one or more users, enabling gestures and interaction with content.