The Key Requirements of the Sarbanes-Oxley Act State That

question 60

Multiple Choice

The key requirements of the Sarbanes-Oxley Act state that

• A)boards of directors should include at least three outside directors.
• B)the positions of CEO and chairman of the board should not reside in the same individual.
• C)compliance is mandatory for public corporations,optional for listed non-public corporations.
• D)none of the options.

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Definitions:

Tariffs and Quotas

These are trade policies where tariffs are taxes on imported goods, and quotas are limits on the amount of a good that can be imported.

Import Substitution

An economic policy aimed at replacing foreign imports with domestic production to promote local industries.

Foreign Competition

Competition that domestic companies face from companies located in other countries, influencing markets, pricing, and innovation.

Trade Restrictions

Measures such as tariffs, quotas, and embargoes that countries impose to control the amount of trade across their borders.