Under Sarbanes-Oxley,the CEO and CFO of Publicly Traded Companies Have

question 32

Multiple Choice

Under Sarbanes-Oxley,the CEO and CFO of publicly traded companies have to certify:

• A) Company compliance with the Uniform Code of Conduct
• B) That company financial statements accurately disclose all pending litigation claims and the estimated dollar amount of expected losses, if material
• C) The effectiveness of the company's internal controls
• D) That they have no known or foreseeable conflicts of interest with corporate goals and policies

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Definitions:

Equipment Account

An account used in bookkeeping to track the purchase and depreciation of equipment over time.

Unamortized Patent

The portion of a patent's cost that has not yet been expensed through amortization, representing an intangible asset on the balance sheet.

Adjustment Necessary

Refers to the modifications required to correct or update financial records or statements to ensure accuracy and compliance with accounting principles.

Equipment Account

An account on the balance sheet representing the cost of equipment owned by a company, less accumulated depreciation.