Which One of the Following Is a Key Requirement of the Sarbanes-Oxley

question 40

Multiple Choice

Which one of the following is a key requirement of the Sarbanes-Oxley Act?

• A)Officers of the corporation must now own at least five percent of the firm's stock.
• B)Officers of the corporation must review and sign the annual reports.
• C)Annual reports must list the strengths of the internal controls.
• D)Firms must "go dark" every 5 years.
• E)Monthly financial statements must be provided to all shareholders.

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Definitions:

Codes of Ethics

Formal documents outlining the principles and standards of behavior expected in a professional or organizational setting.

Ethical Dilemma

A situation in which a person faces conflicting moral principles, making it challenging to decide the right course of action.

Ethical Behavior

Conduct based on recognized principles of right and wrong, guiding how individuals make choices that affect others.

Tie-In Sale

A sales technique where a customer is required to buy a secondary product or service when purchasing a primary one.