If a Person Serves in a High-Ranking Financial Reporting Oversight

question 23

Multiple Choice

If a person serves in a high-ranking financial reporting oversight role at a corporation,whistleblowing concerning accounting fraud is mandatory,in accordance with rules imposed by:

• A) The Sarbanes-Oxley Act
• B) The Dodd-Frank Act and subsequent amendments
• C) The European Commission, with regard to officials subject to its jurisdiction
• D) The SEC, with regard to officials of companies subject to its jurisdiction

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Definitions:

Marginal Cost

The additional expenditure required to produce one more unit of a product or service.

Output

The amount of goods or services produced by a firm, industry, or economy within a particular time period.

Marginal Cost

The elevation in comprehensive cost stemming from the creation of one more unit of a good or service.

Fixed Cost

Fixed costs are business expenses that remain constant regardless of the quantity of goods or services produced, such as rent or salaries.