According to the Sarbanes-Oxley Act of 2002, any person who is employed by a public accounting firm that audits a client can be hired by that client as the chief executive officer (CEO) or chief financial officer (CFO), but only ________.

A. if that person is a CPA
B. when at least a year has passed since the audit
C. when at least five years have passed since the audit
D. if the person pledges to have nothing to do with any future audits


Answer: B

Business

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Indicate whether the statement is true or false

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a. examples b. explanations and descriptions c. analogies d. testimony

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A single taxpayer provided the following information for 2018:Salary$80,000Interest on local government bonds (qualifies as a tax exclusion)4,000Allowable itemized deductions13,000What is taxable income?

A. $71,000 B. $80,000 C. $67,000 D. $62,950

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What will be an ideal response?

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