Multiple Choice
Privately owned companies
A) are required to have an independent CPA audit their financial statements.
B) are required to have their internal control systems audited.
C) are required to have both the financial statements and internal control systems audited.
D) are not required to do any of these.
Correct Answer:

Verified
Correct Answer:
Verified
Q37: For which of the following errors should
Q38: When a petty cash fund is replenished,the
Q39: A company's merchandise inventory includes all of
Q40: The following is a quote found in
Q41: Internal control involves,in part,the protection of a
Q43: The management of public companies must establish
Q44: A $150 petty cash fund has cash
Q45: At the end of each day,the cashier
Q46: The petty cash voucher should be kept
Q47: The Sarbanes-Oxley Act of 2002 requires management