Under Section 302 of the Sarbanes-Oxley Act of 2002, the Financial

question 14

Multiple Choice

Under section 302 of the Sarbanes-Oxley Act of 2002, the financial statement certifying officials must include in their certification that

• A) A list of all deficiencies in the internal controls and information on any fraud that involves employees who are involved with internal activities has been created
• B) The auditors are responsible for the internal controls and have evaluated and reported on them
• C) All changes in internal controls or related factors that could have a negative effect on the internal controls have been made
• D) All of these

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Definitions:

Corporation

A legal entity that is separate and distinct from its owners, capable of conducting business, owning assets, and being liable for debts.

Paralegals

Individuals trained in subsidiary legal matters but not fully qualified as lawyers, who perform tasks requiring knowledge of the law and legal procedures under the supervision of a lawyer.

Banned

Prohibited by law or regulation from use, distribution, or production.

Business Entities

Structures established by one or more individuals to conduct business or engage in activities for profit, including corporations, partnerships, and sole proprietorships.