Which of the Following Is a Requirement of the Sarbanes-Oxley

question 21

Multiple Choice

Which of the following is a requirement of the Sarbanes-Oxley Act?

• A)An outside auditor must evaluate the client's internal controls and report on the internal controls as part of the audit report.
• B)The Public Company Oversight Board must conduct audits of public companies.
• C)The accounting firm that audits a public client must also provide consulting services for the same client.
• D)The Public Company Oversight Board must create new accounting standards.

Differentiate between the substitution effect and the output effect and their impact on resource allocation.

Apply the principle of optimal resource mix in firm operation contexts.

Explain the role of derived demand in the context of labor and capital as factors of production.

Understand the fundamental concept of derived demand in relation to resources.