1. The audit committee reports directly to the
A board of directors.
B chief executive officer.
C external auditor.
D internal auditor.
2. The owners of a _____ have limited liability for financial obligations.
A corporation
B general partnership
C limited partnership
D sole proprietorship
3. Cash flows to stakeholders of a firm include
A equipment contributed by the owner.
B interest and principal payments.
C impairment of goodwill.
D depreciation expense of an asset.