Which of the Following Is NOT True Regarding the Sarbanes-Oxley

question 15

Multiple Choice

Which of the following is NOT true regarding the Sarbanes-Oxley Act?

• A) The Act mandates the composition and authority of audit committees at public companies.
• B) The Act prohibits personal loans to executives.
• C) The Act requires corporations to disclose whether they have a code of ethics applicable to senior financial officers and, if not, to disclose why not.
• D) The Act gives the SEC the authority to prohibit unfit persons from serving as officers or directors of a public company for a period of five years.

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Definitions:

Boston's Resistance

Refers to the series of events and acts of opposition by inhabitants of Boston, Massachusetts, against British authority leading up to the American Revolutionary War.

Colonial Delegates

Representatives from the American colonies who participated in assemblies and congresses prior to the United States' independence.

Representation in Parliament

The system by which individuals or groups elect representatives to a legislative body, such as Parliament, to voice their interests and concerns.

Lack

The state of being without or not having enough of something; deficiency or absence.