Briefly describe the Sarbanes-Oxley Act and explain why it was passed
What will be an ideal response?
The Sarbanes-Oxley Act of 2002 was enacted as a safeguard against scandals like the accounting scandals of the early 2000s, and was intended to increase confidence in the U.S. corporate governance system. The act requires that CEOs personally certify the accuracy of financial statements and that financial analysts and auditors disclose whether any conflicts of interest might exist that would limit their independence in evaluating a firm's financial condition.
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An example of human capital is:
A. plumbing skills. B. a wrench. C. a manual on how to install a sink. D. a wedding dress.
People are classified as unemployed if
A. they choose to exit the labor force because they cannot find a job. B. they are not working for voluntary reasons. C. they are willing and able to work but cannot find a job. D. they do not have a job because they choose to work at home for no pay.
Which of the following statements is not correct?
A. An increase in a nation's labor supply will cause its potential output to increase B. Economic growth can be illustrated by an expansion of a nation's production possibilities curve C. An increase in the quantity of a nation's resources will cause economic growth, but an increase in the quality of resources will not D. New technologies or new ways of producing output can cause a nation's production possibilities curve to shift outwards
Recall the Application regarding the elasticity of demand for public transit varying over time to answer the following question(s).According to the Application, the demand for public transit is:
A. more elastic in the long run because riders have time to respond to changes in price. B. less elastic in the long run because consumers have less opportunity to change their behavior. C. is perfectly inelastic and does not vary over time. D. is perfectly elastic and does not vary over time.