The Sarbanes-Oxley Act Is Primarily Intended to Increase Public Scrutiny

question 109

True/False

The Sarbanes-Oxley Act is primarily intended to increase public scrutiny of private companies that had previously been exempt from many public disclosure requirements.

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Definitions:

Copyright

A legal right granted by the government to creators of original works, giving them exclusive rights to use and distribute their creations for a certain period of time.

Patent

A legal right granted to an inventor, providing exclusive commercial rights to an invention for a certain period.

C Corporations

A type of corporate structure where the business is taxed separately from its owners, offering limited liability protection to its shareholders.

Tax Advantages

Financial benefits derived from tax laws, which reduce the tax liability of an individual or business.