Business

10th -

12thgrade

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Accounting Standards, Regulations and Ethics

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10 questions

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  • 1. Multiple Choice
    30 seconds
    1 pt

    Federal law created to set new requirements for all US public company boards, public accounting firms and company management; enforced auditor rotation and mandated executive acknowledgement of published financial reports is _____________________________.

    SECURITIES AND EXCHANGE COMMISSION (SEC)

    SARBANES-OXLEY ACT OF 2002

    BERNIE MADOFF

    FINANCIAL ACCOUNTING STANDARDS BOARD (FASB)

  • 2. Multiple Choice
    30 seconds
    1 pt

    ____________________ was created by Congress in 1934 to protect investors and provide rules for public corporations listed for trade on stock exchanges.

    ACCOUNTING ETHICS

    TYCO INTERNATIONAL

    SECURITIES AND EXCHANGE COMMISSION (SEC)

    BERNIE MADOFF

  • 3. Multiple Choice
    30 seconds
    1 pt

    A private-sector organization, not under direct government control which helps improve accounting standards is the ______________________________________.

    ENRON

    FINANCIAL ACCOUNTING STANDARDS BOARD (FASB)

    BERNIE MADOFF

    AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS (AICPA)

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