Advanced Financial Accounting
Advanced Financial Accounting
11th Edition
ISBN: 9780078025877
Author: Theodore E. Christensen, David M Cottrell, Cassy JH Budd Advanced Financial Accounting
Publisher: McGraw-Hill Education
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Chapter 14, Problem 14.4.2E
To determine

Introduction: Proxy statementsare material submitted to shareholders for votes on corporate matters such as the election of directors, changes in the corporate charter, issuance of new securities or modification of outstanding securities, or plans for major business combination, in many cases, voting on these matters takes place at the annual meeting but sometimes at a special meeting.

To choose:The correct option to determine the document furnished to shareholders to provide background information for their vote.

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The Sarbanes-Oxley Act provides for requirements with respect to which committee(s) of a company's board of directors? Select one: A. Nominating committee. B. Audit committee. C. Compensation committee and audit committee.  D. Nominating committee and compensation committee.
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.
> Question 3 Please match the individual/group listed in the left hand column with the function he/she/they perform. The Independent Auditor The Compensation Committee The Audit Committee The CEO and the CFO The Governance Committee ✓ [Choose ] Issuing a report on the financial statements and ICFR Pre-approving audit and non-audit services Nominating new board members Determining the salary of the CEO Signing off on disclosure controls and ICFR [Choose ] [Choose ] [Choose ]
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