Which One of the Following Is Not a Characteristic of the Public

question 59

Multiple Choice

Which one of the following is not a characteristic of the Public Company Accounting Oversight Board?

• A) Minimizes self-regulation in the accounting profession.
• B) Has the authority to amend, modify, repeal, or reject any audit standard of the ASB.
• C) Only one member can be an accountant, past or present.
• D) SEC has oversight and enforcement authority over the Board.
• E) Enforces auditing, quality control, and independence standards and rules.

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Definitions:

Swept Away

To be completely overwhelmed or carried off emotionally or physically by something.

Titanic

The British passenger liner that sank in 1912 after hitting an iceberg during its maiden voyage, leading to significant loss of life.

Prestige

Prestige denotes the respect, admiration, or deference a person or group garners from others, based on accomplishments, quality, or social status.

Parties

Social gatherings or celebrations where people come together to enjoy entertainment, companionship, and often food and drink.