In Response to a Large Number of High Profile Cases

question 115

Multiple Choice

In response to a large number of high profile cases involving accounting fraud, the U. S. Congress in 2002 passed the:

• A)Internal Revenue Fraud Act.
• B)Securities and Exchange Commission Fraud Act.
• C)Sarbanes-Oxley Act.
• D)Federal Reserve Act.

Analyze the consequences of focusing exclusively on negative freedom.

Appreciate the significance of having real options to act differently in the responsibility for actions.

Understand the Heisenberg principle of uncertainty and its implications for predicting events at a subatomic level.

Analyze the relationship between determinism, indeterminism, and free will.

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Definitions:

Main-Purpose Rule

A legal principle holding that if the main purpose of a guarantor's promise to pay another's debt is to serve the guarantor's own interests, the promise does not need to be in writing to be enforceable.

Secondary Obligation

An obligation that arises only after a primary obligation has not been fulfilled, often seen in guarantor or surety arrangements.

Statute of Frauds

A legal principle that requires certain contracts to be in writing and signed by the parties to be enforceable.

Prenuptial Agreements

Agreements made by a couple before they marry concerning the ownership of their respective assets should the marriage fail.