Which of the following is an indication of good corporate governance?
A) A company has a board of directors made up entirely of the company's top managers,who have the most comprehensive knowledge of the company's business.
B) A company's annual report includes 170 pages of notes written by a Harvard PhD.
C) A company's external auditors are independent enough to stand up to the company's executives on any given accounting issue.
D) The company has the external auditors prepare,as well as audit,its financial statements.
Correct Answer:
Verified
Q147: The accounting for property,plant and equipment is
Q148: IFRS are more _.
A)rule based than U.S.GAAP
B)principle
Q149: U.S.GAAP is more rule-based than IFRS.
Q150: Corporate governance describes how a firm governs
Q151: Good corporate governance requires the financial statements
Q153: Unlike U.S.GAAP,IFRS do not allow for alternative
Q154: Describe how U.S.GAAP differ from IFRS in
Q155: U.S.GAAP differs from IFRS in that U.S.GAAP
Q156: IFRS _.
A)have more standards than U.S.GAAP
B)have more
Q157: Name two characteristics of good corporate governance.
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