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:

Andalusia Region

A geopolitical and cultural region in the south of Spain, known for its historical significance and diverse heritage.

Olive Trees

Perennial plants known for their fruit and oil, significant in culinary, cosmetic, and health products, with cultural and economic importance in many regions.

Market Making

A financial service activity where a firm quotes both buy and sell prices for financial instruments, facilitating liquidity and trading activity in the market.

Transaction Costs

Expenses incurred when buying or selling goods or services, which may include fees, taxes, or other costs beyond the price of the product itself.