The Sarbanes-Oxley Act of 2002 Was Enacted as a Result

question 66

Multiple Choice

The Sarbanes-Oxley Act of 2002 was enacted as a result of:

• A)high ethical standards passed down by leaders of the Big 4 accounting firms.
• B)corporate accounting scandals that left investors with little confidence in corporate financial reporting.
• C)auditors being bribed to provide a clean audit report for corporations.
• D)Congress needing to pass a bill in an election year.

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Definitions:

Marginal Utility

The extra pleasure or benefit gained by a consumer from consuming an additional unit of a product or service.

Marginal Utility

The additional satisfaction or utility gained from consuming an extra unit of a good or service.

Water-Diamond Paradox

A concept in economics that questions why diamonds are more expensive than water despite water being essential for survival and diamonds not.

Marginal Utility

The additional satisfaction or benefit received from consuming one more unit of a good or service.