Which of the Following Is NOT a Major Requirement of the Sarbanes-Oxley

question 50

Multiple Choice

Which of the following is NOT a major requirement of the Sarbanes-Oxley Act?

• A)CEOs and CFOs of publicly traded firms must vouch for the veracity of the firm's published financial statements
• B)Corporate boards must have audit and compensation committees drawn from independent (outside)directors
• C)Owners of privately-owned firms must publish financial statements on a quarterly basis
• D)Companies are prohibited from making loans to corporate officers and directors
• E)Companies must test their internal financial controls against fraud

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Definitions:

PTO Driveshafts

PTO driveshafts, short for Power Take-Off driveshafts, are components used to transfer mechanical power from a vehicle, like a tractor, to another piece of equipment or machinery.

Solid Steel Stock

A form of steel material that is completely solid, used for a variety of industrial and construction applications.

Precision Balancing

A process of adjusting the mass distribution of a rotating component so that it operates without causing undue vibration.

Driveshaft Runout

The amount of wobble or deviation from true circular rotation in a driveshaft as it turns.