Sarbanes-Oxley requires companies to maintain strong and effective internal controls and thus deter ...

Sarbanes-Oxley requires companies to maintain strong and effective internal controls and thus deter fraud andprevent misleading financial statements.
 a. True
  b. False
 
   Indicate whether the statement is true or false

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(Q. 2) A key control concern is that certain people within an organization have easy access to applications programs and data files. The people are:
 a. data librarians
  b. systems programmers
  c. systems development
  d. data center managers

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(Q. 3) Bea Rich is enthusiastic about starting her catering business. She feels confident that she has a great concept and can handle the day-to-day details of running a business. However, this is her first attempt at running her own business.
 
  Advise Bea on the risks associated with starting a business.
  What will be an ideal response?

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(Q. 4) Which of the following is a payroll tax normally paid by both the employee and the employer?
 a. Medicare tax
   b. FUTA tax
   c. property tax
   d. SUTA tax

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(Q. 5) Z Biz sold a 5-year, 1,000, zero-interest bond for 497.18 when the market rate of interest was 15. The annual interest payment is ________.
 
  A) 0
  B) 150
  C) 74.58
  D) 502.82

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(Q. 6) The Sarbanes-Oxley Act requires that financial statements of all public companies report on management'sconclusions about the effectiveness of the company's internal control procedures.
 a. True
  b. False
 
   Indicate whether the statement is true or false