Under the Sarbanes-Oxley Act, in Order to Audit a Public

question 5

Multiple Choice

Under the Sarbanes-Oxley Act, in order to audit a public company, ________.

• A)only public accountants must constitute the audit committee
• B)a public accounting firm must register with the PCAOB
• C)all public accounting firms must assign an accountant who works closely with one client over a long duration of time
• D)the law of accountant-client privilege must be accepted by the state legislative mechanism

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Definitions:

Black Cabinet

A group of African American advisors to U.S. President Franklin D. Roosevelt during his presidency, who advised on issues affecting black communities.

Titular Head

A person holding a title and often a ceremonial position of leadership but lacking real power or authority.

Black Middle Class

African American individuals and families that fall within the middle-income range, experiencing economic stability and upward mobility, particularly visible post-Great Migration.

Great Depression

A severe worldwide economic downturn that took place during the 1930s, leading to widespread unemployment and poverty.