Which of the Following Statements Is TRUE of the Sarbanes-Oxley

question 156

Multiple Choice

Which of the following statements is TRUE of the Sarbanes-Oxley Act?

• A) Accounting firms are allowed to provide both auditing services and a full range of consulting services to their public company clients.
• B) Those who commit securities fraud must be sentenced to 10 years in prison.
• C) All private and foreign companies must issue an internal control report evaluated by an outside auditor.
• D) The Public Company Accounting Oversight Board oversees the work of auditors of public companies.

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Definitions:

First Law

Typically refers to a primary or foundational principle within scientific disciplines, such as Newton's First Law of Motion in physics, though the term needs specific context to define accurately.

Gift Exchange

A strong tradition in many cultures, in which giving gifts creates a future obligation to the receiver; it can also be a rite of passage into an inner circle.

Sense Of Obligation

A feeling of duty or responsibility that motivates individuals to act in certain ways, often driven by moral, societal, or personal standards.

Social Problems

Issues that adversely affect the well-being of a significant number of people in a society, and that are often the subject of public debate and policy efforts.