In Response to Corporate Scandals Such as Enron and WorldCom,in

question 64

Multiple Choice

In response to corporate scandals such as Enron and WorldCom,in 2002 the U.S.Congress passed a law that requires,among other things,that CEOs and CFOs certify the accuracy and appropriateness of their firm's financial statements and increases the penalties against them if the financial statements later prove to be fraudulent.The name of this act is

• A) the Glass-Steagall Act.
• B) the Sarbanes-Oxley Act.
• C) the Accuracy in Accounting Act.
• D) the McCain-Feingold Act.

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Definitions:

Groupthink

A psychological phenomenon in which people in a cohesive group go along with the group consensus rather than offering their own opinions.

Subcultures

Groups within a larger culture that have their own distinct values, norms, and behaviors, often based on interests, occupations, or demographics.

Dominant Culture

Set of core values shared by the majority of organizational employees.

Cultural Adaptation

The process by which individuals adjust to and integrate with different cultural environments or norms.