Which of the Following Is True of the Public Company

question 24

Multiple Choice

Which of the following is true of the Public Company Accounting Oversight Board?

• A)All members of the Public Company Accounting Oversight Board have to be CPAs.
• B)The Public Company Accounting Oversight Board was created by the Tax Reform Act of 1976.
• C)The SEC has oversight and enforcement authority over the board and its functioning.
• D)The Public Company Accounting Oversight Board lacks the power to initiate any disciplinary actions against defaulting accountants.

---

Definitions:

Serial Bonds

Serial bonds refer to a type of bond issue that is divided into several parts, each maturing at different intervals over a period of time, allowing the issuer to phase out the repayment over several years.