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

question 87

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:

Control Chart

A statistical tool used in quality control processes to monitor, control, and ascertain the stability of a process.

Defective Candy Bars

Candy bars that do not meet the production quality standards due to flaws.

Sample Size

The total number of instances or replications incorporated in a statistical sampling.

Population Proportion

The fraction or percentage of the population that exhibits a specific attribute or characteristic.