The Sarbanes-Oxley Act of 2002 Has

question 21

Multiple Choice

The Sarbanes-Oxley Act of 2002 has:

• A)reduced the annual compliance costs of all publicly traded firms in the U.S.
• B)decreased senior management's involvement in the corporate annual report.
• C)greatly increased the number of U.S.firms that are going public for the first time.
• D)decreased the number of U.S.firms going public on foreign exchanges.
• E)essentially made officers of publicly traded firms personally responsible for the firm's financial statements.

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Definitions:

Self-Interests

The pursuit of personal advantage and well-being, often driving economic decisions and behaviors.

Economic Inefficiency

A situation where resources are not allocated optimally, leading to wastage and a loss of potential value.

Productive Projects

Initiatives or ventures undertaken with the goal of creating goods or services that contribute to economic growth and development.

Counterproductive Projects

Counterproductive projects are initiatives that instead of contributing to the goals of an organization, end up hindering progress or causing harm.