Which of the Following Acts Was Passed Amid Outcries of Public

question 59

Multiple Choice

Which of the following acts was passed amid outcries of public outrage over outrageous management practices discovered at several companies including Enron,WorldCom,and Tyco?

• A)Gramm-Leach-Bliley Act
• B)Financial modernization Act
• C)Sarbanes-Oxley Act
• D)Patriot Act
• E)Freedom of Information Act

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Definitions:

FA/Sales Ratio

Fixed Assets to Sales Ratio; measures the efficiency of a firm's use of its fixed assets to generate sales.

Financial Forecast

A prediction of future revenues, expenses, and profits of a company, used for budgeting and strategic planning.

Fixed Assets

Assets that are purchased for long-term use and are not likely to be converted quickly into cash, such as buildings, land, and machinery.

Pro Forma Financial Statements

Financial statements that project the financial position of a company, based on certain assumptions and typically used for future planning.