In addition to requiring that CEOs personally certify the accuracy of financial statements, the Sarbanes-Oxley Act of 2002 also requires that
A) CEO's conduct audits of their corporations themselves.
B) firms raise funds for expansion through the sale of bonds only, not stocks.
C) auditors disclose any potential conflicts of interest.
D) corporations issue financial statements monthly rather than quarterly.
Answer: C
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Since crowd funding sites do not themselves invest in business start ups that raise funds on their sites, they don't reduce:
A) the principal-agent problem B) information costs C) transaction costs D) asymmetric information
Suppose when you are 21 years old, you deposit $1,000 into a bank account that pays annual compound interest, and you do not withdraw from the account until your retirement at the age of 65, 44 years later. How much more will be in your account if the interest rate is 6 percent rather than 4 percent?
A. $2,390 B. $5,617 C. $880 D. $7,369