Question 1: Explain a flexible budget. How is a flexible budget related to a static budget?
Question 2: What is responsibility accounting? Explain the purpose of responsibility accounting.
Question 3: What do you believe the future holds for the Sarbanes-Oxley Act? Explain
Question 4: What is the objective of internal auditing? Is the scope of internal auditing limited to financial statement audits? Explain.
Question 5: Do you believe the Securities Acts of 1933 and 1934 were necessary? Explain.