The FCPA Requires That a System of Internal Accounting Controls

question 121

Multiple Choice

The FCPA requires that a system of internal accounting controls

• A) guarantee that profits are correctly stated in a firm's audited financial statements.
• B) provide absolute assurance that transactions are executed only in accordance with management's authorization.
• C) provide reasonable assurance that access to assets is permitted only in accordance with management's authorization.
• D) ensure the long-run profitability of an organization.

---

Definitions:

Time Orientation

Whether a culture’s values are oriented toward the future (long-term orientation) or toward the past and present (short-term orientation).

Social Decision Schemes

Frameworks that groups use to combine individual preferences and opinions into a collective decision.

Group Decision Making

The process by which a group of individuals comes to a decision collectively, ideally leveraging the diverse perspectives and expertise of its members.

Racially Dissimilar

Characterizing individuals or groups that belong to different racial backgrounds or ethnicities.