Compliance reports are generally required by
A) parent companies.
B) accounting departments.
C) government agencies.
D) marketing departments.
E) midlevel managers.
Answer: C
Explanation: C) All businesses are required to demonstrate that they are in compliance with regulations and rules for their particular form of business. Since the government writes and administers the laws that businesses are required to follow, compliance reports are submitted to the government for examination.
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Indicate whether the statement is true or false
Which of the following statements regarding insurance and hedging is (are) true?
I. Insurance involves the transfer of an insurable risk while hedging handles risk that is typically uninsurable. II. Insurance transactions can reduce objective risk, while hedging typically involves only risk transfer and not risk reduction. A) I only B) II only C) both I and II D) neither I nor II