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The _____ Act Prohibits Any Person from Being a Director

question 97

Multiple Choice

The _____ Act prohibits any person from being a director of two or more competing corporations.


Definitions:

Sarbanes-Oxley

The Sarbanes-Oxley Act is a U.S. federal law enacted in 2002 to protect investors by improving the accuracy and reliability of corporate disclosures made pursuant to securities laws, and to prevent corporate and accounting fraud.

U.S. Exchanges

Marketplaces in the United States where securities, options, and futures are traded.

Conceptual Framework

An organized system of objectives and fundamentals that can lead to consistent standards in accounting and guides the selection of transactions to be accounted for.

IFRS

International Financial Reporting Standards, a set of international accounting standards stating how particular types of transactions and other events should be reported in financial statements.

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