Requirements of the Law Covering the Accountability of Nonprofit Organizations

question 50

True/False

Requirements of the law covering the accountability of nonprofit organizations are included in the Sarbanes-Oxley Act of 2002.

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Definitions:

Injurious Falsehood

A legal claim involving the intentional spread of falsehoods about a person, business, or product, causing economic loss or damage to reputation.

Trade Libel

The publication of false statements about another’s product or business that causes economic loss, considered a form of defamation.

Trade Secret

Information, including formulas, practices, designs, instruments, or patterns, that is not generally known or readily ascertainable, and by which a business can obtain an economic advantage over competitors or customers.

Secret Formula

A proprietary method or recipe that is kept hidden to maintain competitive advantage or uniqueness.