Which of the Following Statements Is True About the Sarbanes-Oxley

question 72

Multiple Choice

Which of the following statements is true about the Sarbanes-Oxley Act of 2002?

• A)It prohibits any one institution from acting as any combination of an investment bank,a commercial bank,and an insurance company.
• B)It allows for the full or partial disclosure of previously unreleased information and documents controlled by any public enterprise.
• C)Areas covered under this act require financial institutions to keep records of cash purchases of negotiable instruments and to report suspicious activity that might signify money laundering,tax evasion,or other criminal activities.
• D)Areas covered under this act include maintaining generally accepted accounting practices and ensuring company structure and processes that enhance integrity and reputation.
• E)Commercial banks and savings associations are encouraged to help meet the needs of borrowers in all segments of their communities,including low and moderate-income neighborhoods.

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Definitions:

Merchandise Balance

The difference in value between a nation's imports and exports of tangible goods.

Services Balance

A measure of the difference between a nation's exports and imports of services, part of the broader current account balance.

Trade Deficit

A scenario in which a country buys more goods and services from abroad than it sells to other countries, resulting in a negative trade balance.

Merchandise

Goods or products that are bought, sold, or traded, often in a retail environment.