11) The two legislations passed to improve corporate governance are:

A. the Sarbanes-Oxley Act (SOX) of 2002 and the Wall Street Reform and Consumer Protection Act of 2010 (the Dodd-Frank Act)

B. Chief executive officers (CEOS) and chief financial officers (CFOS)

C. Chief financial officers (CFOS) and chief executive officers (CEOS)

D. the Public Company Accounting Oversight Board (PCAOB) of 2002 and the Wall Street Reform and Consumer Protection Act (the Dodd- Frank Act) of 2010

E. the Sarbanes-Oxley Act (SOX) of 2002 and the Public Company Accounting Oversight Board (PCAOB) of 2010

12) The "say on pay" mandate is a result of:

A. PCAOB

B. SOX

C. CFO

D. CEO

E. Dodd-Frank

13) Chief executive officers (CEOS) and chief financial officers (CFOS) are required to attest to the correctness of their company's financial statements as a result of:

A. PCAOB

B. Dodd-Frank

C. ROE

D. SEC

E. SOX

14) The following item is not an example of recording bogus revenue:

A. Recording revenue from transactions that lack a reasonable arm's-length process.

B. Recording revenue from transactions that lack economic substance.

C. Recording revenue from appropriate transactions, but at inflated amounts.

D. Recording revenue from appropriate transactions at real amounts.

E. Recording revenue on receipts from non-revenue-producing transactions.

15) -

16) The following is not a type of auditor opinion:

A. public

B. qualified

C. disclaimer

D. adverse

E. unqualified

17) A merger between two or more firms, or the purchase of one firm by another is called:

A. stock option plan

B. business combination

C. corporate governance

D. financial review

E. net pension expense

18) A group of the firm's similar business activities is called:

A. business segment

B. business combination

C. business plan

D. financial review

E. business risk

19) An event that has an uncertain but potentially significant effect on the financial statements is called:

A. contingency

B. financial review

C. exchange rate risk

D. credit risk

E. business risk

20) An integral part of the financial statements that contains explanations of accounting policies and descriptions of financial statement details is called:

A. balance sheet

B. auditor's opinion

C. notes to the financial statements or financial review

D. cash flow statement

E. income statement