Greg Wanlass Is the Vice President of Talent Development for M

question 154

Multiple Choice

Greg Wanlass is the vice president of talent development for M & T Savings and Thrift,a publicly traded corporation that is listed on the NYSE.Greg has just purchased a home and borrowed the money from M & T,at its regular interest rate.With regard to this loan:​

• A)​M & T has violated SOX by making a loan to an officer.
• B)​the loan is not subject to SOX because it was at M & T's regular interest rate.
• C)the loan is not prohibited by SOX.
• D)M & T is not covered by SOX provisions.

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Definitions:

Gratuitous Bailment

An arrangement where personal property is temporarily transferred from one party to another without the expectation of payment, based on trust.

Monetary Reward

A financial benefit given as payment, incentive, or compensation for services rendered or achievements.

Bailment Created

The legal relationship established when personal property is transferred from one party to another under an agreement for a specific purpose.

Simple Delivery Service

A basic service that transports goods from one location to another without additional services or complexities.