Which of the Following Is True About the Composition of Boards

question 70

Multiple Choice

Which of the following is true about the composition of boards of corporations covered by Sarbanes-Oxley?​

• A)​All board members must be independent.
• B)​All audit committee members must be independent.
• C)Independence is defined as not having current contracts with the corporation.
• D)both b and c

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Definitions:

Protectionist State Restrictions

Regulations implemented by a state to protect its domestic industries from foreign competition, often through tariffs, quotas, and other trade barriers.

Taxing Power

Taxing Power is the governmental authority to impose taxes on individuals, entities, and transactions to raise revenue for public purposes.

Federal Government

The national government of a federal state, where powers are divided between a central authority and constituent political units (like states or provinces).

Healthcare Reform

Efforts and policies aimed at improving, changing, or establishing healthcare systems to improve access, affordability, and quality of healthcare services.