Which of the Following Is Not One of the Important

question 66

Multiple Choice

Which of the following is not one of the important aspects of the Sarbanes-Oxley Act?

• A) The creation of the Public Company Accounting Oversight Board
• B) New rules for auditors and management
• C) New roles for audit committees
• D) New rules for information systems development

Understand the concept and elements of consideration in contracts.

Distinguish between bilateral and unilateral contracts.

Identify the enforceability of promises and modifications in preexisting contracts.

Analyze the legal effect of an illusory promise and gratuitous promises in contract law.

---

Definitions:

Unauthorized Cards

Payment cards such as credit or debit cards used without the consent or authorization of the cardholder, often resulting in fraudulent transactions.

Counterfeiting

The act of making an imitation of an object, typically money or branded goods, with the intent to deceive.

Redlining

A discriminatory practice by which services (like banking and insurance) are withheld from potential customers in certain neighborhoods based on racial or ethnic composition.

Gramm-Leach-Bliley Financial Modernization Act

A U.S. federal law enacted in 1999 to control the ways that financial institutions deal with the private information of individuals.