The Sarbanes-Oxley Act of 2002 Contains All of the Following

question 13

Multiple Choice

The Sarbanes-Oxley Act of 2002 contains all of the following provisions EXCEPT:

• A) A CFO must be a CPA or CMA.
• B) The audit committee of the board of directors of a company must hire, compensate, and terminate the public accounting firm that audits the company's financial reports.
• C) Severe penalties are established for altering or destroying documents that may eventually be used in an official proceeding.
• D) Both the CEO and CFO must certify in writing that their company's financial statements and accompanying disclosures fairly represent the results of operations.

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Definitions:

Donuts

Circular or ring-shaped fried dough treats, often sweetened and sometimes filled or topped with various ingredients.

Burritos

A Mexican dish consisting of a flour tortilla wrapped or folded around a filling typically including beans, cheese, and meats.

Income

The money received by a person or organization, typically in exchange for goods, services, or investments.

Total Utility

The complete satisfaction or pleasure a consumer derives from consuming a certain quantity of a good or service.