The Sarbanes-Oxley Act (SOX)________

question 134

Multiple Choice

The Sarbanes-Oxley Act (SOX) ________.

• A) requires independent accountants to take responsibility for the accuracy and completeness of the financial reports
• B) created the SEC
• C) ensures that financial scandals will no longer occur
• D) requires companies to take responsibility for the accuracy and completeness of their financial reports

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Definitions:

Moral Development

The process through which individuals develop proper attitudes and behaviors towards other people in society, based on social and cultural norms, laws, and personal beliefs.

Rationalizations

Rationalizations are justifications or excuses made for one's behavior that deviate from what they know is right, often to self-soothe or avoid guilt.

Unethical Behaviour

Actions or practices that violate moral or professional guidelines, often resulting in harm to others or the environment.

Ambiguous Situations

Circumstances that lack clarity or precision, often leading to uncertainty or differing interpretations among individuals.