Which of the Following Is Correct About the PCAOB

question 73

Multiple Choice

Which of the following is correct about the PCAOB?

• A)The PCAOB receives its authority from the SEC
• B)Auditing standards issued by the PCAOB must be approved by the U.S.Congress
• C)Anyone who wants to purchase stock on a U.S.stock exchange must follow the rules of the SEC
• D)All audit firms performing audits of public companies are registered with and agree to comply with the auditing standards established by the PCAOB

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Definitions:

Components

The individual parts or elements that make up a larger object or system.

Borrowed Reserves

Funds that commercial banks borrow from the central bank, often used to meet reserve requirements or to manage liquidity.

Federal Reserve System

The principal banking organization in the United States tasked with handling monetary policy.

Federal Funds Market

A financial market that allows banks to borrow or lend reserves overnight to meet reserve requirements.