472001 (QUIZ 2- MIDTERM PERIOD NU BAGOBUSX QUIZ 2 - MIDTERM PERIOD NU BAGOBUSX Points:18/20 1. An “insider” is a person or institution which has no direct relationship with the corporation or corporate management. (1/1 Point) True False v 2. ederal lawmakers enacted the Sarbanes-Oxley Act in large part due to corporate scandals at the start of the 21st century. (1/1 Point) Tue v False 3. Which of the following groups is NOT considered as external stakeholder? (1/1 Point) external auditors audit committee government suppliers hitps:ormsoffice.comIPagos/ResponsePage.aspx?i¢=dx-Y HaMBskaw 1 OgETmx_hPFPH-¢-P190or'WBKQHVX1RUNIIPNTQMUKANSFZGOTFLRIB.. 1/8an72001 (QUIZ 2- MIDTERM PERIOD NU BAGOBUSX 4, The purpose of this group of stakeholders is to add credibility to the financial statements as they are responsible for evaluating whether or not the financial statements are prepared in accordance to the established accounting rules and regulations (1/1 Point) Management Internal auditors External auditors Board of Directors 5, How is corporate governance best defined? (1/1 Point) The extent to which the content of workplace decisions is aligned with a firm's strategic direction The formal system of oversight, accountability and control for organizational decisions and resources The philosophy that a Board or CEO holds regarding accounting methods The exercise of control and authority by those in mid- management positions 6.SOX applies equally to and is intended to benefit all publicly traded companies, although many provisions are also relevant to private and not-for-profit organizations (17 Point) Tue v False 7. Corporate governance focuses on the relationship between firms and governments (1/1 Point) True False v hitps:tormsoffice.com!Pagos/ResponsePage aspx?id=dx-Y HaMBskaw 1 OgETmx_hPFPH-d-P190or'WBKQHVX1RUNIIPNTQWUKANSFZGOTFLRIB.. 2/6an72001 (QUIZ 2- MIDTERM PERIOD NU BAGOBUSX 8, Improved corporate governance , enhanced quality , reliability and transparency of financial information are some benefits of implementing SOX properly (17 Point) Tue v False 9. Which of the following is a true statement regarding corporate governance? (1/7 Point) It refers to the manner in which an entity is managed and governed. v It excludes entity management. It requires entity's to have a board of directors Itis a uniquely distinct concept from those charged with governance 10. Which stakeholder is the primary focus of the shareholder model of corporate governance? (1/1 Point) shareholder employees Board of directors, government 11. The penalties that may be imposed under SOX (1/1 Point) terms-conditions negligence 15 reinstate the worker to the same position-with the same benefits-responsibilities-seniority x hitps:ormsoffice.com!Pagos/ResponsePage aspx?id=dx-Y HaMBskaw | OgETmx_hPFPH-d-P190or'WBKQHVX1RUNIIPNTQMUKHNSFZGOTFLRIB.. 3i6arora (QUIZ 2- MIDTERM PERIOD NU BAGOBUSK 12. This group of stakeholders help management establish and monitor the internal controls for the company (0/1 Point) Management Internal auditors Government Employees 13.1 a person, usually an employee, who exposes information or activity within a private, public, or government organization that is deemed illegal, illicit, unsafe, or a waste, fraud, or abuse of taxpayer funds, (1/1 Point) Whistleblower ~ Board of Director Management Shareholder 14, Corporations are accountable to all internal and external stakeholders, which can however lead to. agency problems (1/1 Point) True v False 15, Those who have a claim in some aspect of a firm's products , operations, markets, industry and outcomes are known as (1/1 Point) shareholders stockholders stakeholders ~ claimholders hitps:tormsoffice.comIPagos/ResponsePage aspx?id=dx-Y HaMBskaw 1 OgETmx_hPFPH-¢-P190or'WBKQHVXIRUNIIPNTQMUKHNSFZGOTFLRIB.. 4/6an72001 (QUIZ 2- MIDTERM PERIOD NU BAGOBUSX 16. Public company (1/1 Point) board of directors cumulative voting 2 control for cash received through the mail any company that has a class of securities registered with the Securities and Exchange Commission x 17. The primary participants of corporate governance are the board of directors, management, and selected stakeholders. Indicate whether the statement is true or false. (0/1 Point) True False v 18. Failure of a corporate director or officer to exercise the duty of care while conducting the corporation's business (1/1 Point) negligence v personal liability public company retaliation to a whistleblower 19. Key concepts in corporate governance include building value and creating confidence (1) (1 Point) Tue v False hitps:ormsoffice.com!Pagos/ResponsePage aspx?id=dx-Y HaMBskaw | OgETmx_hPFPH-¢-P190or'WBKQHVXIRUNIIPNTQMUKHNSFZGOTFLRIB.. 518an72001 (QUIZ 2- MIDTERM PERIOD NU BAGOBUSX 20. The legal status and fiduciary duty of company directors and officers have been clearly more defined and significantly enhanced under the SOX Act of 2002 (1/1 Point) Tue v False Go back to thank you page This content is created by the owner of the form, The data you summit will be sent to the form owner. Microsoft is not responsible for the privacy or security practices of its customers, including those of this form owner. Never give out your password Powered by Microsoft Forms | Privacy and cookies | Terms of use cr hitps:ormsoffice.com!Pagos/ResponsePage.aspx?id=dx-Y HaMBskaw | OgETmx_hPFPH-d-P 190or'WBkQHVX1RUNIIPNTQMUKhNSFZGOTFLRIB.