The Key Requirements of the Sarbanes-Oxley Act State That

question 92

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 above.

---

Definitions:

Independent Retailer

A retail business owned and operated by an individual or family, not part of a larger chain or franchise system.

Owned

Refers to assets or properties controlled by an individual or company.

Individual

Referring to a single human being as distinct from a group, society, or organization, emphasizing personal and unique attributes.

Corporate Chain

A series of related businesses owned by the same company or managed under a single corporate structure, often sharing branding and operational systems.