ACCT 105 Week 7 Quiz

ACCT 105 Week 7 Quiz

Author: Trudy Webb


All accounting firms must register with the PCAOB.
Internal controls can be broken into two categories: 1) those relating to how transactions flow, and 2) those relating to employee integrity.
SEC rules do not allow management to assert that a company has effective internal controls if:
The Board of Directors is required to complete an annual report verifying the effectiveness of the company’s internal control system.
A public company’s disclosure internal control disclosure requirements in its annual report according to Sarbanes-Oxley Section 404 include which of the following:
Which costs have not increased for public companies related to implementation of Sarbanes-Oxley?
Which of the following is not one of the four specific responsibilities that PCAOB Auditing Standard No. 2 levies on company management?
PCAOB stands for:
Management’s assessment of the design and operation of the company’s internal controls over financial reporting should be:
Sarbanes-Oxley has no impact on non-public companies.

See More
Try a College Course Free

Sophia’s self-paced online courses are a great way to save time and money as you earn credits eligible for transfer to over 2,000 colleges and universities.*

Begin Free Trial
No credit card required

26 Sophia partners guarantee credit transfer.

226 Institutions have accepted or given pre-approval for credit transfer.

* The American Council on Education's College Credit Recommendation Service (ACE Credit®) has evaluated and recommended college credit for 21 of Sophia’s online courses. More than 2,000 colleges and universities consider ACE CREDIT recommendations in determining the applicability to their course and degree programs.