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Question
(p. 645) Which of the following is a major provision of the Sarbanes-Oxley Act?
A. Audit firms are prohibited from doing consulting work for corporations while also auditing their books.
B. It creates a Private Company Accounting Oversight Board to oversee accounting firms and improve the accuracy of their audits.
C. Every board of directors must create audit committees consisting of independent directors who receive consulting or advisory fees from the company other than their compensation.
D. Boards of directors are permitted to, at their discretion, approve personal loans for company executives.
Answer
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(p. 661) Setting the exercise price of stock options at the price on a date before the date they were granted is:
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B. backdating.
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(p. 659) Usually, CEO pay is determined by:
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(p. 492-493) How are environmental taxes important as policy tools? What is main drawback of these taxes?
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(p. 491-492) Define command-and-control regulation. What are the advantages and disadvantages of the command-and-control regulation?
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(p. 412-413) What are the basic reasons for protectionism existing in the trade histories of all nations?
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(p. 404) What are the Bretton Woods institutions?
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(p. 334-335) Discuss Congress oversight? Does it influence agency actions?
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(p. 319-320) List some of the market failures that justify regulation.
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(p. 319) Explain the term "natural monopoly."
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(p. 277) The First Amendment:
A. gives each state sovereign immunity from being sued in federal court by someone of another state or country.
B. allows the Congress to levy tax without appointing it among the states or basing it on Census results.
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(p. 277) The First Amendment is an amendment to the Constitution added in 1791 as part of the:
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(p. 280) The Nineteenth Amendment to the U.S. Constitution gave women the right to vote.