The Sarbanes-Oxley Act of 2002 Established the Public Company Accounting

question 32

Multiple Choice

The Sarbanes-Oxley Act of 2002 established the Public Company Accounting Oversight Board (PCAOB) .The PCAOB was established to

• A)bring to justice public companies such as Enron and WorldCom for committing fraud
• B)oversee the standards promulgated by the SEC related to public companies
• C)protect the interests of investors by overseeing auditors of public companies
• D)establish GAAP for use by public companies

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Definitions:

Status Frustration

A concept in sociology referring to the dissatisfaction or angst that arises from being unable to achieve socially approved goals through legitimate means.

Goal-Means Gap

A theory in sociology that explains deviance as the discrepancy between socially approved goals and individuals' ability to achieve these goals through legitimate means.

Positivist Theory

A school of thought in sociology that asserts that societal behaviors and phenomena should be studied through empirical observation and the scientific method.

Phenomenological Theory

A philosophical approach that emphasizes the study of conscious experience from the first-person perspective, aiming to understand the essence of phenomena.