Section 404 of the Sarbanes-Oxley Act of 2002 Is Considered

question 47

Multiple Choice

Section 404 of the Sarbanes-Oxley Act of 2002 is considered controversial because:

• A)sensitive corporate information has to be published,which may be detrimental to a company.
• B)a company has to significantly increase its budget to comply with Section 404.
• C)the procedure for complying with Section 404 is lengthy,complicated,and time consuming.
• D)Section 404 results in diminished corporate responsibility of the officers of a company.

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Definitions:

Simple Interest

Simple interest is a method of calculating the interest charge on a loan based on the original principal amount and the interest rate, without compounding over time.

Monthly Basis

A term referring to events or calculations repeated or measured every month.

Round Answers

The process of adjusting the decimal places of a number to simplify it, based on specific rounding rules.

Simple Interest

Interest calculated on the principal portion of a loan or deposit, using a simple calculation that does not compound.