What does Section 404 of the Sarbanes-Oxley Act of 2002 require?

a) The external auditors must create an adequate internal control structure for the firm being audited.

b) The external auditors must approve of all internal auditors hired by a firm.

c) The inclusion of an internal control report in the annual report.

d) The external auditors need to perform internal audit services.

How are marketable securities valued on the balance sheet?

a) Historical cost.

b) At cost or fair value depending on how the securities are classified.

c)Market value.

d)At fair value with the difference between cost and fair value reported as revenue.