4 Which of the following is true about the Sarbanes-Oxley Act?A. It was passed to ensure that internal controls are properly documented and tested by publiccompanies.B. It applies to both public and smaller companies.C. It requires all companies to report their internal control policies to the US Securities and ExchangeCommission.D. It does not require additional costs or resources to have adequate controls.
4 Which of the following is true about the Sarbanes-Oxley Act?A. It was passed to ensure that internal controls are properly documented and tested by publiccompanies.B. It applies to both public and smaller companies.C. It requires all companies to report their internal control policies to the US Securities and ExchangeCommission.D. It does not require additional costs or resources to have adequate controls.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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4 Which of the following is true about the Sarbanes-Oxley Act?
A. It was passed to ensure that internal controls are properly documented and tested by public
companies.
B. It applies to both public and smaller companies.
C. It requires all companies to report their internal control policies to the US Securities and Exchange
Commission.
D. It does not require additional costs or resources to have adequate controls.
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