Which of the Following Best Describes the Requirement for a Company

question 67

Multiple Choice

Which of the following best describes the requirement for a company to report on the effectiveness of its internal control?

• A) A company is required to report on the effectiveness of its internal control only if the company is a bank or a thrift with assets of $150 million or more.
• B) Each publicly traded company is required to report on the effectiveness of its internal control.
• C) Each publicly traded and privately held company is required to report the effectiveness of its internal control.
• D) A company is not required to report on its internal control, but almost every publicly traded company voluntarily reports on the effectiveness of its internal control.

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Definitions:

Maladaptive Behaviour

Actions or tendencies that are counterproductive to one’s own well-being or ability to fulfill their needs or goals, often seen in response to stressors.

Abnormal Behaviour

Behavior that is deviant, maladaptive, or personally distressful over a relatively long period of time.

Dissociative Identity Disorder

A severe form of dissociation, a mental process which produces a lack of connection in a person's thoughts, memory, and sense of identity, formerly known as multiple personality disorder.

Freudian Explanation

Interpretations based on Sigmund Freud's theories, particularly those related to the influence of the unconscious mind, childhood experiences, and psychosexual development on behavior and personality.