10, 2020 ULTTUURIVI 1. U.S GAAS are: A) Those standards produced by the sec solely for the audits of public companies B) The principles that independent public accounts use when engaged to audit the financial statement of their clients. C) Are the concepts for preparation of financial statements subject to requirements of the foreign corrupt practice Act. D) All of the above are true E) None of the above are true 2. Which of the following statement is true? A) IRA is an example of a defined contribution plan B) a defined contribution plan will always have payments made to it by both employee and employer. C) An employee cannot contribute the assets from his or her defined benefit plan with a former employee to the defined benefit plan of a new employee. D) All of the above are true E) None of the above are true 3. A defined-benefit pension plan's assets: A) Are reported on the sponsoring company's balance sheet. B) Must always be at least the same amount as the sponsoring company's pension obligation. C) Must have a certain expected rate of return if the sponsoring company is to be allowed a federal income -tax deduction. D) All of the above are true E) None of the above are true