Sample Question Essay

5080 WordsMar 9, 201321 Pages
Sample Question 5312 Fall 2009 Student:___________________________________________________________________ 1. Corporate governance include concerns about: A. business ethics and social responsibility. B. the responsibilities of the board of directors. C. equitable treatment of stakeholders. D. disclosures and transparency. E. all of the above. 2. The most powerful corporate governance legislation to date has been: A. the Sarbanes-Oxley Act (SOX) of 2002. B. the creation of the American Institute of Certified Public Accountants. C. Corporate Ethics Code of 2005. D. the regulation of inventory management practices by the SEC. 3. The Sarbanes-Oxley Act (SOX) of 2002 does not specifically prohibit an…show more content…
reported as a separate item on the balance sheet. B. accomplished by reporting assets at their replacement cost. C. required to be described in the explanatory notes to the financial statements. D. encouraged, but not required to be described in the explanatory notes to the financial statements. 12. Management's statement of responsibility: A. explains that the entity's financial statements are the responsibility of the entity's auditors. B. states that the financial statements are free of significant error. C. affirms that management is responsible for assuring adherence to internal control policies and procedures. D. guarantees that the firm has operated in a highly ethical manner. 13. Firms that issue registered securities are required to file, with the SEC on an annual basis, which of the following? A. An annual report. B. A prospectus. C. A form 10-K. D. A set of financial statements. E. All of the above. 14. A firm's cash dividends were $3.96 per share of common stock for calendar 2006. In 2007 the stock was split 3 for 1, and in 2008 a 10% stock dividend was issued. Dividends per share for 2006, to be reported in the firm's annual report for 2008, are: A. $3.96 B. $1.45 C. $1.32 D. $1.20 15. Business segment information is included in the explanatory notes to financial statements because: A. the amounts shown on the

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