Which of the Following Is Not a Provision of the Sarbanes-Oxley

question 11

Multiple Choice

Which of the following is not a provision of the Sarbanes-Oxley Act of 2002?

• A)It mandates that executives of publicly traded companies take individual responsibility for the accuracy and completeness of financial reports.
• B)It requires executive and financial officers to certify, in writing, the truthfulness of quarterly and annual reports filed with the SEC.
• C)It provides for penalties, including fines and jail time, for executives who knowingly alter, destroy, conceal or falsify records.
• D)It prohibits managers from giving or taking bribes, even if such acts are part of the normal business practices in another country.
• E)All of the above are provisions of the Sarbanes-Oxley Act of 2002.

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Definitions:

Machine-Hours

A measure of production activity that quantifies the total hours machines are operated in the manufacturing process.

Direct Labor Cost

The wages or salaries directly attributable to the production of goods or services, excluding indirect costs such as supervision and maintenance.

Overhead Applied

Refers to the allocation of indirect costs to specific cost objects, such as products or services, based on a predetermined rate or basis.

Direct Labor-Hours

The total hours of labor directly involved in the manufacturing process, used as a basis for allocating manufacturing overhead to products.