Which of the Following Is True of the Sarbanes-Oxley Act

question 32

Multiple Choice

Which of the following is true of the Sarbanes-Oxley Act of 2002?

• A)The act requires at least 30 percent of the businesses in the United States to be formed as S corporations.
• B)The act requires a limited liability company to have a committee that consists of inside directors to oversee the firm's audits.
• C)The act requires a limited liability company to be taxed like a proprietorship.
• D)The act requires an S corporation to have more than 100 stockholders (members) and more than one type of stock.
• E)The act requires a publicly-traded corporation to hire an external auditing firm that renders an unbiased opinion concerning the firm's financial statements.

---

Definitions:

Out in The World

A phrase often used to describe the act of engaging with and experiencing the broader social and physical environment outside of one's immediate circle.

Late Marriage

The practice of entering into marriage at an older age, often considered to be beyond the traditional marrying age in a given society.

Remarry

The act of getting married again after a divorce or the death of a spouse.

Status

A social or professional position, rank, or standing of an individual or concept within a group or society.