Under the Sarbanes-Oxley Act, Which of the Following Is True

question 17

Multiple Choice

Under the Sarbanes-Oxley Act, which of the following is true regarding the destruction of documents in a federal bankruptcy investigation?

• A) The destruction of documents in a federal bankruptcy investigation is a misdemeanor with possible sentences of up to 364 days in jail.
• B) The destruction of documents in a federal bankruptcy investigation is a felony with possible sentences of up to 364 days in jail.
• C) The destruction of documents in a federal bankruptcy investigation is a felony with possible sentences of up to 5 years in jail.
• D) The destruction of documents in a federal bankruptcy investigation is a felony with possible sentences of up to 20 years in jail.
• E) The destruction of documents in a federal bankruptcy investigation is a felony with possible sentences of life imprisonment.

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Definitions:

Opportunity Cost

The cost of forgoing the next best alternative when making a decision or choosing to use resources in one way rather than another.

Sacrificed Action

An act of giving up something valued for the sake of something else regarded as more important or worthy.

Clean Environment

An environment free from pollutants and toxins, often associated with sustainable practices and policies.

Pollution

The release of harmful substances into the natural environment, causing detrimental effects on air, water, soil quality, and overall ecosystem health.