Which of the following is not a provision of the Sarbanes-Oxley Act as to the responsibility of a company's top managers?   Question 3 options:   They must establish formal procedures to receive, retain, and address any information that may affect the company's accounting.   They must certify that they are primarily responsible for the company's internal controls over financial reporting.   They must certify that the company's financial statements are fairly presented.   They may deny responsibility for certain financial reporting matters if they are not knowledgeable about the proper accounting procedures for those transactions.

What does the Sarbanes-Oxley Act of 2002 require the CEO and CFO to do? Multiple Choice   All of these are requirements of the Sarbanes-Oxley Act of 2002.   Take responsibility for signing financial statements.   Stipulate that the financial statements do not omit material information.   Disclose that they have evaluated the company's internal controls.   Disclose that they have notified the company's auditors and the audit committee of the board of any fraud that involves management.

Which of the following factors would weaken corporate governance? A.Ensuring that the rotation of directors is such that the average incumbency ensures that all diretors are appointed for a long period so as to enhance their familiarity with the company's policies and procedures B.Stipulating the maximum number of directorship a director can commit to C.Ensuring the CEO is not the chairman of the board of directors D.The appointment of independent directors to the audit committee

What is the main purpose of information presented in notes to the financial statements? • To provide disclosures required by generally accepted accounting principles. To correct improper presentation in the financial statements. To provide recognition of amounts not included in the totals of the financial statements. To present management's responses to auditor comments.