The Sarbanes-Oxley Act of 2002

question 74

Multiple Choice

The Sarbanes-Oxley Act of 2002

• A) protects managers of publicly held corporations from frivolous lawsuits for unethical behavior.
• B) prohibits managers of publicly held corporations from personally profiting from non-public information.
• C) holds those who influence corporate decisions legally accountable for unethical conduct.
• D) allows corporate accountants greater latitude in the application of generally accepted accounting principles.

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Definitions:

Sectional Rivalry

Competition and conflict between different regions or sections of a country, particularly evident in the United States pre-Civil War between the North and South over economic, cultural, and political differences.

Presidential Candidate

An individual who runs for the office of President in a country, participating in electoral campaigns to gain support from the electorate.

Popular Votes

The total number of votes cast by citizens in an election, as opposed to votes cast by electoral colleges or legislative bodies.

Lost Election

The outcome for a candidate or party that does not receive a majority of votes or sufficient votes to win a political election.