The Sarbanes-Oxley Act

question 30

Multiple Choice

The Sarbanes-Oxley Act:

• A) allows the SEC to add criminal penalties to a disgorgement fund for the benefit of victims of violations of the 1933 and 1934 securities acts.
• B) requires an outside CPA and the corporate treasurer to certify the financial and other information contained in the issuer's annual and quarterly reports.
• C) requires that issuers of securities disclose in plain English to the public on a rapid and current basis such additional information concerning material changes in the financial condition or operations of the issuer as the SEC determines is necessary or useful.
• D) All of these.

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Definitions:

Catholic Reformation

A movement within the Catholic Church in the 16th century aimed at making internal reforms and countering the Protestant Reformation.

Scientific Revolution

A period of major advancements in science and technology during the 16th to 18th centuries, leading to significant changes in society and the view of the natural world.

Protestantism

A form of Christian faith and practice that originated with the Reformation, a movement against what its followers perceived to be errors in the Roman Catholic Church.

Scientific Revolution

A period, primarily during the 16th and 17th centuries, marked by major advances and changes in scientific thought and methodologies, significantly impacting the understanding of the natural world.