Due to Various Fraudulent Business Practices and Accounting Coverups in the Early

question 29

Multiple Choice

Due to various fraudulent business practices and accounting coverups in the early 2000s, Congress enacted the Sarbanes-Oxley Act of 2002.The act was responsible for establishing a new oversight board for public accountants called the:

• A) Generally Accepted Accounting Practices for Public Accountants Board.
• B) Public Company Accounting Oversight Board.
• C) Congressional Accounting Oversight Board.
• D) Financial Accounting Standards Board.

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Definitions:

Construction Bids

Proposals submitted by contractors to undertake a construction project, typically including proposed costs and timelines.

Probability

An indicator of how probable an event is to happen, shown as a value ranging from 0 to 1, with 0 meaning it cannot happen and 1 meaning it will definitely happen.

Union

An organized association of workers formed to protect and further their rights and interests; a labor union.

Individual Probabilities

The likelihood of specific outcomes for individual events.