Which of These Is True About Sarbanes-Oxley Act

question 6

Multiple Choice

Which of these is true about Sarbanes-Oxley Act?

• A) The CEO and CFO must verify every report containing the company's financial statements
• B) The directors and executive officers are required to trade the company's 401(k) plan, profit sharing plan and retirement plan during the black out period
• C) Companies are required to extend personal loans to its executives and directors
• D) The Act requires that the audit committee must be composed entirely of inside officers

---

Definitions:

Collectivism-group

A social pattern or philosophy that prioritizes the needs and goals of the group over individual desires.

Collective Distribution

The process of sharing or distributing something among a group in a coordinated manner.

GLOBE Model

A framework for studying and understanding the impact of culture on leadership and organizational practices across different nations.

Contingent Reward-based Exchanges

A leadership approach where rewards are given based on the performance or achievement of specific criteria.