Governmental Accounting Standards Board

School: Arizona Western College - Course: FIN 672 - Subject: Accounting

Public companies are required to regularly publish __________. major changes in financial status information investors would not use for decision making inaccurate financial information personal information Solution The correct answer is major changes in financial status Wrong Hide solution Question 2 The Great Depression and the related stock market disaster in the United States led to the creation of __________. The SED The Success and Exchange Commission An agency that enforces few government security rules The Securities and Exchange Commission Solution The correct answer is The Securities and Exchange Commission Wrong Sarbanes-Oxley legislation ensured __________. independence of the auditor increased pressures on auditors to be concerned with a client's other value to their firm independence of the author firms providing audit services could provide nonaudit services

Solution The correct answer is independence of the auditor Wrong Hide solution Question 2 The new accounting regulatory body brought about by Sarbanes-Oxley Act of 2002 (SOX) was __________. Designed to provide no oversight for auditors of public companies The PCDOB designed to provide third-party oversight Designed to provide loss oversight Solution The correct answer is designed to provide third-party oversight Wrong Hide solution Question 3 The Securities and Exchange Commission (SEC) has enforcement authority over __________. lawyers grocery stores transportation securities' exchanges Solution The correct answer is securities' exchanges Wrong Hide solution

Question 4 The Sarbanes-Oxley Act of 2002, also known as SOX, created changes in __________. accountability of executives expectations of executives to understand and express confidence in investors regulations of authoring accountability of stock exchanges Solution The correct answer is accountability of executives Wrong Hide solution Question 5 Changes that were enacted as a result of the wave of corporate scandals affected __________. tax collectors an organization's interns a company's board of directors a company's board of volunteers Solution The correct answer is a company's board of directors Wrong Hide solution You answered 0 out of 5 correctly. Asking up to 8. You appear to be having trouble with some of these questions. I would suggest trying one of the following: Look at some summary information

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