The Sarbanes-Oxley Act of 2002 Authorized the Creation of This

question 15

Multiple Choice

The Sarbanes-Oxley Act of 2002 authorized the creation of this organization to oversee audits:

• A)Financial Accounting Standards Board FASB)
• B)American Institute for Certified Public Accountants AICPA)
• C)Public Company Accounting Oversight Board PCAOB)
• D)International Accounting Standards Board IASB)
• E)Sarbanes-Oxley Oversight Board SOXOB)

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Definitions:

Bankruptcy Proceedings

The judicial procedure that allows people or organizations that are unable to pay their debts to obtain relief from part or all of their financial obligations.

Farmer

An individual engaged in agriculture, raising living organisms for food or raw materials.

Refuses to Comply

The act of not agreeing to follow a request, rule, or order.

Ten or More Employees

A reference to a business or organization that has a workforce of ten or more individuals, often used in legal and regulatory contexts to determine applicability of certain rules.