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Chapter 1: Introduction to Managerial Accounting




Question;1.5-17 SOX allows CPA firms to;provide which of the following services to existing audit clients, but ONLY if pre-approved;by the audit committee?;A. Consulting.;B. Tax;C. Financial information design;D. Bookkeeping;1.5-18 SOX requires that the;company?s financial statements be certified by the company?s;A. CFO.;B. CEO.;C. CFO and CEO.;D. Controller.;1.5-19 SOX requires publicly;traded companies to have ___________ assessed annually.;A. their internal control system;B. their financial Reporting procedures;C. their internal control system and financial Reporting;system;D. none of the above;1.5-20 The;SEC has moved to adopt IFRS for which types of companies?;A.;All U.S. companies;B.;Only foreign companies operating in the US;C.;All U.S. publicly traded companies;D.;All U.S.;private companies;1.5-21 IFRS stands for;A.;International and Foreign Reporting Systems.;B.;International Financial Reporting Standards.;C.;Important Foreign Registering Systems.;D.;International and Foreign Registering Standards.;1.5-22 XBRL stands for;A.;eXtensible Business Reporting Language.;B.;eXisting Business Responsibility Language.;C.;eXtensive Business Registering Location.;D.;eXtractable Business Reporting Location.;1.5-23 All publicly traded companies will be required to;use XBRL by the year;A.;2010.;B.;2011.;C.;2015.;D.;2017.


Paper#54955 | Written in 18-Jul-2015

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