Which Statement Is False Regarding the Registration of Public Accounting

question 3

Multiple Choice

Which statement is false regarding the registration of public accounting firms with the SEC under the Sarbanes-Oxley Act?

• A)Registration is required of all firms that prepare,issue,or participate in the preparation of an audit report for an entity that issues securities.
• B)Foreign firms are exempt from registration.
• C)Disclosure requirements include annual fees received from each issuer for the firm's audit services only .
• D)The Public Company Accounting Oversight Board will subject registered firms to periodic inspections.
• E)Information regarding disagreements between the issuer and the auditing firm during the previous year must be disclosed.

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Definitions:

Market Price

The ongoing price level for an asset or service that can be traded or acquired in a market setting.

Profit-Maximizing Output

The quantity of goods or services that yields the highest profit for a firm, determined by analyzing costs and revenues.

Sergei's Total Cost

A term representing a specific individual's total incurred costs; not a standard economic concept without additional context.

Market Price

The actual selling price of goods and services in the marketplace, determined by supply and demand forces.