The 2002 Sarbanes-Oxley Act Was Designed To

question 177

Multiple Choice

The 2002 Sarbanes-Oxley Act was designed to:

• A) limit the compensation that could be paid to CEOs.
• B) eliminate the many disclosure and conflict of interest problems of corporations
• C) provide uniform international accounting standards
• D) limit CEO compensation

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Definitions:

Confirmation Bias

Confirmation bias is the tendency to search for, interpret, favor, and recall information in a way that confirms one’s preexisting beliefs or hypotheses.

Self-Serving Bias

A common cognitive bias where individuals attribute their successes to personal factors while attributing their failures to external factors.

Chess Expert

An individual with a high level of skill and knowledge in the game of chess, often recognized through rankings or achievements.

Well-Played Games

Games or sports matches where all participants display a high level of skill, strategy, and adherence to fair play, often leading to enjoyable and competitive entertainment.