The Securities Exchange Commission (SEC)has Oversight Authority Over the PCAOB

question 83

Multiple Choice

The Securities Exchange Commission (SEC) has oversight authority over the PCAOB.Which of the following is not within the SEC's oversight authority?

• A)The SEC approves the PCAOB's rules
• B)The members of the PCAOB are appointed by the SEC
• C)The SEC approves the PCAOB's budget
• D)The SEC determines which audit firms will be inspected by the PCAOB

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Definitions:

Dividing

In financial contexts, this can refer to allocating or apportioning financial resources or profits among groups, such as dividends to shareholders.

Responsibility Accounting

A financial tracking system that gathers, compiles, and presents financial data relevant to the duties of specific managers.

Controllable Costs

Expenses that can be directly influenced or managed by a specific department or level of management.

Investment Center

A business segment whose manager has control and is accountable for generating revenue, incurring costs, and making significant investment decisions.