Corporations whose stock is publicly traded must have their financial statements __________ by independent certified public accountants.
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Corporations whose stock is publicly traded must have their financial statements __________ by independent certified public accountants.
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- Who is responsible for assessing the accountant's competence? A The American Institute of Certified Public Accountants (AICPA)B Each state's accountancy board.C The accountantD The accountant's clientThe use of the Certified Public Accountant title is regulated by Select one a. the Securities and Exchange Commission D. the American Institute of Certiied Public Accountants through the licensing departments of the tax and auditing committees c. the federal government d. state law through a licensing department or agency of each stateWhich of the following is the federal, independent agency that provides oversight of public companies to maintain fair representation of company financial activities for investors to make informed decisions? A. IRS (Internal Revenue Service) B. SEC (Securities and Exchange Commission) C. FASB (Financial Accounting Standards Board) D. FDIC (Federal Deposit Insurance Corporation)
- This is the independent federal agency protecting the interests of investors, regulating stock markets, and ensuring companies adhere to GAAP requirements. A. Financial Accounting Standards Board (FASB) B. generally accepted accounting principles (GAAP) C. Securities and Exchange Commission (SEC) D. conceptual frameworkWhat type of organization primarily offers tax compliance, auditing, and consulting services? A. corporations B. public accounting firms C. governmental entities D. universitiesFinancial statements of public companies are required to be audited by ______. an independent certified public accounting firm the Audit Committee of the Board of Directors the Chief Financial Officer all of the above none of the above
- Which is the party that plays the central role in the due diligence process of a corporate proposal? Securities Commission. O Reporting Accountant. O Directors of the Applicant or Issuer. Principal Adviser.The agency of the federal government that, among other responsibilities, prescribes the methodology for reporting accounting results for companies whose stock is publically traded is the: a. Federal Reserve (The Fed) b. Securities and Exchange Commission (SEC) c. Internal Revenue System (IRS) d. American Institute of Certified Public Accountants (AICPA) e. None of the AboveWhich of the following documents will contain information about the compensation for Directors of a public company: The 10Q The Proxy Statement The Annual Report The outside Auditors Report
- Corporate officers are Group of answer choices elected by the shareholders. appointed by the board and ratified by the shareholders. appointed or elected by the board. elected by the shareholders and ratified by the board.Which of the following is the federal, independent agency that provides oversight of public companies to maintain fair representation of company financial activities for investors to make informed decisions? Group of answer choices 1.IRS (Internal Revenue Service) 2.SEC (Securities and Exchange Commission) 3.FASB (Financial Accounting Standards Board) 4. FDIC (Federal Deposit Insurance Corporation)Rules recently established by the Securities and Exchange Commission include a "say on pay rule that requires: Multiple Choice Audit committee review of executive compensation. Nonbinding shareholder votes on executive pay. Compensation committees as a part of corporate boards. Detailed disclosures of executive compensation. Shareholder votes on dividends declared.