Which of the Following Statements Regarding the Sarbanes-Oxley Act Is

question 12

Multiple Choice

Which of the following statements regarding the Sarbanes-Oxley Act is (are) true?

• A)Management must establish and maintain a system of internal controls over financial reporting.
• B)Management must periodically assess a company's system of internal controls over financial reporting.
• C)Management must include in the company's annual report a separate report that assesses internal controls.
• D)A company's auditors are required to report on management's assessment of internal controls.
• E)All of these statements are truE.

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Definitions:

Event

An outcome or set of outcomes for which we want to know the probability.

Favorable Outcome

An outcome included in an event.

Cold Fusion

A hypothetical type of nuclear reaction that would occur at, or near, room temperature, compared to the high temperatures required for traditional nuclear fusion.

Probability

A measure of the likelihood that an event will occur, often expressed as a number between 0 and 1.