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A. Serial Online Audit
B. Sarbanes Oxley Act of 2002
C. Sarbanes Overseas Act of 2002
D. Sarbanes Online Act of 2002
A. Initial public stock offerings, securities analysis, and the performance of CEOs
B. Corporate governance, securities issuance, and the performance of audit work.
C. Initial public stock offerings, securities analysis, and the performance of CFOs
D. Corporate governance, financial oversight, and the performance of audit work.
A. Internal Controls and Integrated Framework Act
B. International Accounting Standards
C. Public Company Accounting Reform and Investor Protection Act
D. International Financial Reporting Standards
A. Develop Control Documentation
B. Determining Key Controls
C. Identify significant accounts, business processes and locations
D. Management informs Stakeholders of the Project timelines
A. Three Years
B. Five Years
C. Nine Years
D. Seven Years
A. Accounting
B. Investing
C. Consumer
D. Shareholder
A. Attorneys appearing and practicing before the SEC
B. Attorneys appearing and practicing before individual State Attorneys General
C. Attorneys appearing and practicing before the IRS
D. Attorneys appearing and practicing before the Interstate Commerce Commission
A. U.S. Justice Department
B. Financial Accounting Standards Board
C. The Auditing Standards Board
D. U.S. Securities and Exchange Commission
A. Requires notification of insider trading transactions
B. Requires notification of change of stock and/or bond prices
C. Requires notification of change in senior management
D. Requires notification of new product or service introduction
A. Financial statements
B. Foreign exchange transactions
C. Retirement plan implementation
D. Stock market listing
A. Publicly traded corporations must create internal and independent audit committees.
B. Publicly traded corporations must create internal and independent sexual harassment committees
C. Publicly traded corporations must create internal and independent shareholder investment committees
D. Publicly traded corporations must create internal and independent occupational safety committees
A. All publicly-traded companies in the United States and Canada
B. All publicly-traded companies in the United States and Asia
C. All publicly-traded companies in the United States and Europe
D. All publicly-traded companies in the United States
A. Securities and Exchange Commission
B. Department of Labor
C. Commodity Futures Trading Commission
D. Federal Bureau of Investigation
A. Forced bankruptcy
B. Forced liquidation
C. They cannot conduct business
D. Significant fines
A. has internal whistleblower protection procedures in place
B. has internal executive compensation committee in place
C. has internal shareholders grievance procedures in place
D. has internal accounting controls in place
A. External controls, policies, and procedures
B. Board of Directors qualifications
C. Internal controls, policies, and procedures
D. Senior management compensation
A. Storage of electronic tread secret records
B. Storage of electronic financial records
C. Storage of electronic employment records
D. Storage of electronic litigation records
A. Corporate governance
B. Corporate profits
C. Corporate stock issuance
D. Corporate bond issuance
A. Encrypted and cannot be audited
B. Read-only and delete-able
C. Encrypted and password protected
D. Read-only and cannot be audited
A. The Federal Trade Commission Act
B. The Sarbanes-Oxley Act
C. The Commodity Futures Trading Commission Act
D. The Dodd–Frank Wall Street Reform and Consumer Protection Act
A. 4 Years
B. 5 years
C. 3 Years
D. 2 Years
A. When the operation of a control does not detect misstatements
B. When the confidentiality of data is ensured
C. When transactions relevant to the business are authorized
D. When duplicate postings are rejected by the system
A. It depends on which section of the act they’re out of compliance with
B. It depends on the size and capitalization of the company
C. It depends on the size and the industry the company is in
A. Fraudulent reporting of selected financial transactions
B. The collapse of the subprime mortgage market
C. Fraudulent securitization of subprime mortgages
D. The unregulated growth of collateralized debt obligations
A. Employment reinstatement
B. Job promotion
C. Free health benefits
D. Life-time employment
A. Securities and Exchange Commission
B. American Institute of Certified Public Accountants
C. Investor Advisory Group
D. Financial Accounting Standards Board
A. Electrolux, Delta Airlines, & Halliburton
B. Enron, Tyco, & WorldCom
C. ExxonMobil, Chevron, & Cisco Systems
D. Epson, Hewlett-Packard, & Dow Chemical
A. Rigger
B. Safekeeper
C. Auditor
D. Whistleblower
A. SO
B. Sbox
C. SX
D. SOX
A. Compensation
B. Marketing
C. Pension
D. Audit
A. Center for Audit Quality
B. American Institute of CPAs
C. Institute of Management Accountants
D. Public Company Accounting Oversight Board
A. The director or executive officer of a public company
B. The director or executive officer of a privately-held company
C. The rank-and-file employees of a public company
D. The sole perpetrator of a privately-held company
A. It re-established employee confidence in the integrity of their corporate employer’s products and services.
B. It re-established investor confidence in the integrity of corporate disclosures and financial reporting.
C. It re-established consumers' confidence in the integrity of products and services offered for sell by corporations.
D. It re-established governmental agencies' confidence in the integrity of Chief Executive Officers in their ability manages their corporations.
A. Studies and Reports
B. Auditor Independence
C. Income Tax Returns
D. Corporate Responsibility
A. Disclosures related to senior management compensation
B. Disclosures related to number of shares outstanding
C. Disclosures related to earnings and profitability
D. Disclosures related to senior management conflicts of interest
A. To maintain integrity in investment and trading markets so that investors are protected
B. To provide superior accounting disclosure system for organizations
C. To penalize companies for generating lower returns
D. To protect investors by improving the accuracy and reliability of corporate disclosures
A. To advise PCAOB on establishment of auditing and related professional practice standards
B. To maintain back up of all important documents for all public companies listed on NYSE
C. To advise formulation of International Financial Reporting Standards
D. Liaise between Companies and Shareholders in the event of disputes
A. Off-balance-sheet transactions must be disclosed
B. Debt/Equity ratio disclosure
C. Net Profit margin disclosure
D. Institutional stock ownership must be disclosed
A. shareholders filing internal whistleblower complaints
B. employees filing internal whistleblower complaints
C. nonemployees filing internal whistleblower complaints
D. bondholders filing internal whistleblower complaints
A. Higher Risk Cycles
B. Low Risk Cycles
C. Medium Risk Cycles
D. Moderate Risk Cycles
A. Assignment of Authority and Responsibility
B. Evidence of Risk Management and Assessment
C. Board approved policies that address control practices
D. Evidence is furnished by the person who performs that control
A. Establish or maintain Internal Controls
B. Design client's financial management system
C. Report to Board of Directors on behalf of Management
D. Evaluating and understanding the Internal Control System
A. Users of the financial systems
B. System Administrator or Auditor with no interest in the system
C. Auditors who advised in financial system design
D. Configurators of the financial systems
A. Lending Banks
B. Auditor
C. CEO and CFO
D. Creditors
A. The CEO must pay the company’s federal taxes
B. The CEO must have the CFO sign the company’s tax return
C. The CEO must sign the company’s tax return
D. The CEO must pay the company’s state taxes
A. Overview of the process
B. Detailed process description
C. Meaningful information
D. Breakdown into sub activities
A. Supported by Banks and Lending Institutions
B. Supported by Audit Committee
C. Overseen by Global Controller
D. Overseen by Chief Risk Officer
A. the integrity of their company's financial reports annually
B. the integrity of their company's financial reports quarterly
C. the integrity of their company's financial reports monthly
D. the integrity of their company's financial reports semi-annually
A. Valuation
B. Existence
C. Definition
D. Completeness
A. CEOs are required to produce Certification of Periodic Financial Reports
B. Management is required to report on the effectiveness of the company's internal controls over financial reporting
C. Management must implement civil and Criminal Disclosure Controls
D. Auditors are required to attest the effectiveness of the company's internal controls over financial reporting