Signed into Law on July 30, 2002, the ________ Act

question 49

Multiple Choice

Signed into law on July 30, 2002, the ________ Act requires CEOs of publicly traded companies to vouch for the veracity of the firm's published financial statements.

• A) Smoot-Hawley
• B) Humphrey-Hawkins
• C) McCain-Merrill
• D) Sarbanes-Oxley

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Definitions:

Public Good

A public good is a commodity or service that is made available to all members of a society, typically by the government, and is characterized by non-excludability and non-rivalry in consumption.

Nontaxpayers

Individuals or entities that do not contribute to tax revenues, either because of low income, exemptions, or evasion.

Economic Incentive

A financial or non-financial reward used to motivate individuals or entities to pursue particular actions that align with economic goals or policies.

Cost-benefit Analysis

A methodical strategy for evaluating the advantages and disadvantages of different options to identify the most effective method to realize benefits while ensuring cost savings.