What Act Was Passed in 2002 in Response to the Rogue

question 37

Short Answer

What act was passed in 2002 in response to the rogue accounting activities of major global corporations such as Enron, Worldcom and their accounting firm Arthur Andersen?

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Definitions:

Accounts Payable

Money owed by a company to its creditors for goods or services that have been delivered or used, but not yet paid for.

Foreign Currency Units

Units of foreign currency that are used as a medium of exchange for international transactions or investments.

Spot Rate

The current market price at which a particular currency can be bought or sold for immediate delivery.

Forward Rate

The agreed-upon exchange rate for a currency transaction that will occur at a future date.