One failure with respect to the internal controls at Tyco and Adelphia was:
A) Falsification of bank statement balances
B) Top executives manipulated financial statement amounts
C) Top executives used hundreds of millions of dollars from interest-free loans for personal purposes
D) Top management engaged in a Ponzi scheme

Question

Quizplus · Accepted Answer

Top executives at Tyco and Adelphia used hundreds of millions of dollars from interest-free loans for personal purposes. This was a failure in the internal controls and highlights the lack of oversight and accountability within these companies.

One Failure with Respect to the Internal Controls at Tyco