Which of the Following Includes a Provision That Requires Public

question 54

Multiple Choice

Which of the following includes a provision that requires public companies to set policies to allow executive compensation to be taken back if it was based on inaccurate financial statements that did not comply with accounting standards?

• A)The American Recovery and Reinvestment Act (ARRA)
• B)The Troubled Asset Relief Program (TARP)
• C)The Financial Accounting Standards Board Statement 123 R
• D)The Dodd-Frank Wall Street Reform and Consumer Protection Act

---

Definitions:

Time for Delivery

The specific period within which goods or services must be delivered as stipulated in a contract.

Reasonable Time for Inspection

A legally acceptable period allowed for a buyer to examine goods to ensure they conform to the contract terms.

Effective Acceptance

The act of agreeing to the terms of an offer in a manner that is recognized by law, thereby creating a binding contract.

Conforming Goods

Products that meet the specifications and quality standards outlined in a purchase contract.