Why is the audit committee of the board established?

Select one:

a.To audit the books of each operating unit of the corporation.

b.To choose the accountants.

c.To provide independent oversight of financial reporting.

d.To sign the financial statements.

The existence of ____________ on the balance sheet generates tax advantages that directly influence the capital structure of the firm.

Select one:

a.All of the above.

b.Long-term debt.

c.A large proportion of fixed assets.

d.Retained earnings.