If a Person Serves in a High-Ranking Financial Reporting Oversight

question 23

Multiple Choice

If a person serves in a high-ranking financial reporting oversight role at a corporation,whistleblowing concerning accounting fraud is mandatory,in accordance with rules imposed by:

• A) The Sarbanes-Oxley Act
• B) The Dodd-Frank Act and subsequent amendments
• C) The European Commission, with regard to officials subject to its jurisdiction
• D) The SEC, with regard to officials of companies subject to its jurisdiction

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Definitions:

Positive Revenues

Positive revenues refer to the income generated from sales, services, or other business activities before any expenses are subtracted, indicating a gross inflow of economic benefits.

Resources Move

Resources Move describes the reallocation or mobility of resources (labor, capital, etc.) from one sector, location, or use to another.

Alternative Production Techniques

Different methods or processes used in the production of goods and services, often evaluated for their efficiency, cost-effectiveness, or environmental impact.

Economic Loss

Refers to the reduction in total revenue that is greater than the total cost of a business, leading to a negative profit scenario.