Which of the Following Is Associated with the Sarbanes-Oxley Act

question 61

Multiple Choice

Which of the following is associated with the Sarbanes-Oxley Act?

• A)PCAOB now monitors the activities of public accounting firms.
• B)Auditing firms should provide clients with management consulting.
• C)Audit manager's tenure with one client should be limited to five years.
• D)Firms in the same industry should review each other's accounting records.

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Definitions:

Presented For Payment

The act of submitting a financial instrument, such as a check or draft, to the responsible party for the transfer of funds as specified.

Negotiable Instrument

A written document guaranteeing the payment of a specified amount of money, either on demand or at a set time, with the payer named on the document.

Uniform Commercial Code

A comprehensive set of laws governing commercial transactions in the United States, including sales of goods and secured transactions.

Mobile Devices

Portable computing gadgets, such as smartphones and tablets, that allow users to access, process, and manage information on the go.