The Motivation for the Passage of the Sarbanes-Oxley Act Was

question 21

Multiple Choice

The motivation for the passage of the Sarbanes-Oxley act was

• A) Failure of Internet technologies
• B) Denial of culpability by senior executives for falsification of records
• C) To prevent stock market crashes
• D) To recover retiree savings

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Definitions:

Uniform Electronic Transactions Act

A set of laws enacted to establish the legal validity of electronic signatures and records in commercial transactions.

Mailbox Rule

A legal doctrine stating that an offer is considered accepted at the moment the acceptance is dispatched, not when it is received by the offeror.

Common Law

A legal system based on precedent and court decisions, rather than written laws and statutes.

Reasonable Amount

A quantity or level of something considered to be within sensible limits.