The SEC Uses Its Authority to Establish Accounting Standards, While

question 54

True/False

The SEC uses its authority to establish accounting standards, while also enforcing regulations on companies, exchanges, and investors.

---

Definitions:

Consumer Harm

Negative impacts experienced by consumers due to unethical business practices, defective products, or fraudulent activities.

FTC Adjudicative Proceeding

Is a formal process used by the Federal Trade Commission to resolve complaints against businesses for practices that violate federal laws protecting consumers.

Imprisonment

The act of confining someone in a prison or similar facility as a form of punishment for committing a crime.

Affirmative Disclosure

The requirement to voluntarily provide all relevant information that could influence a decision or consent, especially in agreements or transactions.