To Make Sure That Managers Have Followed GAAP Rules in Producing

question 106

Multiple Choice

To make sure that managers have followed GAAP rules in producing financial statements,all public companies must:

• A)Hire independent auditors to scrutinize their financial records.
• B)Hire independent detectives to scrutinize the background of all their accountants.
• C)let the government regulators scrutinize their financial records.
• D)let their shareholders check their financial records.

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Definitions:

Payroll Companies

Businesses that specialize in managing the compensation of employees for other companies, including wages, taxes, and other deductions.

New Buy

A purchasing situation in which a buyer or company makes a significant purchase of a product or service for the first time, often involving considerable research and decision-making.

T.J.Maxx

A subsidiary of TJX Companies, Inc., known for selling discounted brand-name clothing, footwear, and home goods.

B2B Organization

A business that primarily sells products or services to other businesses rather than to individual consumers.