Which of the Following Is NOT True Regarding the Sarbanes-Oxley

question 39

Multiple Choice

Which of the following is NOT true regarding the Sarbanes-Oxley (SOX) Act?

• A) SOX mandates the composition and authority of audit committees at public companies.
• B) SOX prohibits personal loans to executives.
• C) SOX requires corporations to disclose whether they have a code of ethics applicable to senior financial officers and,if not,to disclose why not.
• D) SOX gives the SEC the authority to prohibit unfit persons from serving as officers or directors of a public company for a period of five years.

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Definitions:

Economic Development

The process of improving the economic well-being and quality of life for a community or country by increasing income, reducing poverty, and managing sustainable growth.

Fertility Rates

The average number of children that would be born to a woman over her lifetime, given current birth rates.

Core Countries

Nations that dominate trade, control the most advanced technologies, and have high levels of productivity within diversified economies.

Peripheral Countries

Nations that are less economically developed with lower standards of living, often exploited and dominated by more developed countries in the global economy.