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

question 27

Multiple Choice

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

• A) The act was passed in 1996.
• B) Because the act is complex, compliance is more expensive and time consuming for corporate management.
• C) Because of the act, the SEC was required to establish a federal oversight board.
• D) Because of the act, a corporation's chief executive and financial officers must certify financial reports.
• E) The act strengthened the penalty for destroying financial documents related to an audit.

---

Definitions:

Absent

Not present in a specified place at a given time; lacking.

Arterial Ischemic Ulcer

A type of ulcer caused by poor blood flow to the arteries, typically resulting in tissue damage and sometimes seen in limbs.

Deep Vein Thrombophlebitis

A serious condition involving the formation of a blood clot within a deep vein, typically in the legs, which can lead to inflammation and potential complications if untreated.

Venous Stasis Ulcer

A type of ulcer that develops primarily on the lower legs, as a result of chronic venous insufficiency and poor blood circulation.