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66.A special obligation of trust, especially with respect to the finances of another, is called:

A.Financial Stewardship

B.Fiscal Transparency

C.Fiduciary Duty

D.Internal Controls

67.Within the corporate environment, this term means that management has been entrusted with the power to manage the assets of the corporation, which are owned by the shareholders.

A.Fiscal Transparency

B.Fiduciary

C.Stewardship

D.Accuracy

68.The manner in which an agent handles the affairs and/or finances of another is referred to as:

A.Financial Stewardship

B.Fiscal Transparency

C.Accuracy

D.Fiduciary

69.The most important factors for success in a leader in fulfilling the duty of financial stewardship are:

A.Financial Stewardship and Fiscal Transparency

B.Financial Accuracy and Internal Control

C.Fiduciary Duty and Ethical Conduct

D.Good Communication and Open Dialogue

70.In order for an environment to thrive where corporate leaders can be good financial stewards:

A.Well-defined rules and procedures must be in place for decision making.

B.It is necessary to consider objectives at the starting point.

C.Any decision made must be in the best interest of the shareholders.

D.All of the above.

71.The act of manipulating financial information in such a way as to shed more favorable light on the company or its management than is actually warranted is referred to as:

A.Financial accountability

B.Earnings management

C.Income performance

D.Financial stewardship

72.Which of the following is not one of the typical earnings management techniques?

A.Early revenue recognition

B.Falsification of customers

C.Creation of non-existent vendors

D.Early shipment of products

73.According to the authors, the origin of the corporate governance concept in the United States coincides with:

A.The passage of Sarbanes-Oxley Act

B.The creation of the Public Company Accounting Oversight Board

C.The establishment of the SEC and enactment of the securities laws

D.The Treadway Commission and the ultimate creation of COSO

74.The Securities Act of 1933 requires:

A.The implementation of a proper climate of internal controls

B.The full disclosure of financial information through the filing of registration statements before the securities can be sold

C.Ongoing disclosures for registered companies, in addition to the regulation stock exchanges, brokers, and dealers.

D.The legislation enacted to combat deceptive accounting practices by banks and financial institutions

75.The Securities Exchange Act of 1934 requires:

A.The implementation of a proper climate of internal controls

B.The full disclosure of financial information through the filing of registration statements before the securities can be sold

C.Ongoing disclosures for registered companies, in addition to the regulation stock exchanges, brokers, and dealers.

D.The legislation enacted to combat deceptive accounting practices by banks and financial institutions

 

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