Which of the following is true of the Sarbanes-Oxley Act of 2002?
A. The act requires at least 30 percent of the businesses in the United States to be formed as S corporations.
B. The act requires a limited liability company to have a committee that consists of inside directors to oversee the firm's audits.
C. The act requires a limited liability company to be taxed like a proprietorship.
D. The act requires an S corporation to have more than 100 stockholders (members) and more than one type of stock.
E. The act requires a publicly-traded corporation to hire an external auditing firm that renders an unbiased opinion concerning the firm's financial statements.
Answer: E
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The Sarbanes-Oxley Act contains many sections. Which sections are the focus of this chapter?
Which of the following statements about the growth of diversity in the Americas and the United States is accurate?
a. All of the Americas’ transformation from indigenous to nonindigenous population occurred through waves of new immigrants seeking to improve their living conditions. b. Early European national colonies welcomed only their own nationals for settlement. c. The 1800s were marked primarily by growth of native populations with very little immigration. d. The 1800s saw very little increase in the religious diversity.
What is web content that is created and updated by many users for many users?
A. Executive generated content B. Customer generated content C. User-contributed content D. Cybermediation contributed content
Alice is browsing in a commercial art gallery when she sees a painting that she likes. Arthur, who is the manager of the gallery, tells her that in his opinion the painting is a genuine Leroy Neiman work. Based upon that representation, Alice buys the work for $5,000 . She later discovers that the painting is only a cheap copy of the original that is worth no more than $50 . Arthur has:
a. breached an express warranty to Alice that the painting is a Neiman work. b. breached the warranty of merchantability. c. not breached a warranty because he was merely expressing his opinion. d. breached an express warranty, the warranty of merchantability, and the warranty of fitness for a particular purpose.