Besides Prohibiting Anticompetitive Business Practices, the Clayton Anti-Trust Act Broke

question 46

Multiple Choice

Besides prohibiting anticompetitive business practices, the Clayton Anti-Trust Act broke new ground by

• A) exempting labor unions and agricultural cooperatives from antitrust prosecution.
• B) exempting organized major-league baseball from antitrust prosecution.
• C) prohibiting colleges and universities from cooperating to establish tuition and fees.
• D) permitting American businesses to form monopolies when operating overseas.
• E) creating a federal incorporation law for large businesses.

Understand the legal obligations and potential liabilities of professionals, such as attorneys and accountants, under securities laws.

Comprehend the legal consequences and responsibilities of accounting firms providing both auditing and non-auditing services.

Recognize the criminal implications for false statements in tax returns.

Identify the standards for due diligence and liability avoidance for securities violations in the preparation of financial statements.