The Sarbanes$-$Oxley Act of $2002($SOX$)$ imposes stricter requirements over financial reporting and internal controls and stricter consequences for those who engage in financial statement

misconduct and other white$-$collar crimes.

Most business decisions are now based on gut feelings and hunches, rather than being data$-$

driven.

Critical thinking can be improved by asking yourself a series of questions about any issue or problem you encounter. These questions, for example, include: What is the objective? What

data will I need? What assumptions am I making? Is my conclusion logical$?$

The triple bottom line assesses company performance on three factors: people $($social impact$),$

planet $($environmental impact$),$ and profit $($economic impact$).$

Manufacturing makes up the largest sector of the U$.$S$.$ economy.

The globalization of business has little bearing on management accounting.

Computer systems that integrate all of a company's worldwide functions into one datab$$se are

known as Integrated Worldwide Systems $($IWSs$).$

Lean thinking focuses on eliminating waste from operations.