Several Large Frauds Occurred in 2001 and 2002

question 168

Multiple Choice

Several large frauds occurred in 2001 and 2002. Which of the following was NOT a consequence of these frauds?

• A) Arthur Anderson, LLP was convicted of fraud but was allowed to stay in business.
• B) There were adverse market reactions throughout the world.
• C) Thousands of jobs were lost when Enron and WorldCom went out of business.
• D) There was a loss of confidence in the financial reporting system.