Because of SOX's Emphasis on Control Documentation, the Technical Skills

question 50

True/False

Because of SOX's emphasis on control documentation, the technical skills required of IT staff are more important than written skills for complying with SOX requirements.

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Definitions:

Actual Price

The real price at which a transaction takes place, unaffected by any discounts or premiums.

Variable Budget

A budget that adjusts spending levels based on changes in actual revenue or other financial indicators.

Variable Costs

Expenses that change in proportion to the activity of a business, such as costs for raw materials or production supplies.

Variance Account Balances

The difference between budgeted and actual figures in accounting, requiring analysis to manage and adjust financial performance.