Indicate Whether Each of the Following Statements About Corporate Governance

question 51

Short Answer

Indicate whether each of the following statements about corporate governance is true or false.
_____ a) The Financial Accounting Standards Board issues a code of ethical behavior by which public accountants must abide.
_____ b) The Sarbanes Oxley Act created the Public Company Accounting Oversight Board (PCAOB).
_____ c) Because of the Sarbanes Oxley Act, many audit firms now provide nonaudit services to audit clients.
_____ d) The fraud triangle identifies opportunity, pressure, and rationalization as the three elements that are typically present when fraud is committed.
_____ e) An executive found guilty of falsely certifying a company's financial statements faces up to a $5 million fine and 20 years in prison.

---

Definitions:

Pubescent

Refers to a stage of adolescence in which an individual begins to develop secondary sexual characteristics.

Differentiated Cell

A cell that has developed to perform a specific function, having unique structural attributes distinguishing it from other cell types.

Entire Genome

The complete set of DNA, including all of its genes, in an organism or a cell.

Pluripotent Stem Cells

Pluripotent stem cells are cells capable of differentiating into any of the three germ layers: ectoderm, mesoderm, and endoderm, which can develop into any cell type of the body.