Which of the Following Statements Is False

question 112

Multiple Choice

Which of the following statements is false?

• A)The board of directors meets with the external auditors to discuss management's compliance with their financial reporting obligations.
• B)The external auditors are selected by the Securities & Exchange Commission (SEC).
• C)The Securities & Exchange Commission (SEC) requires publically traded companies to have their financial statements audited by an independent accountant.
• D)The external auditors assume some responsibility with respect to the fairness of the financial statements.

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Definitions:

Members-only Agreements

Contracts or arrangements between organizations, particularly unions, and their members, which specify terms, benefits, and conditions exclusive to the membership.

Nonmajority Union

A labor union that represents a portion, but not the majority, of employees in a workplace, often lacking collective bargaining rights.

Just Cause Dismissal

Termination of employment based on a legitimate and substantial reason as defined by law or contract.

U.S. Labor Law

Legislation and regulations governing the relationship between workers, their unions, and employers within the United States, including rights to organize and bargain collectively.