Which of the following is true of the Public Company Accounting Oversight Board?
A) All members of the Public Company Accounting Oversight Board have to be certified public accountants (CPAs).
B) The Public Company Accounting Oversight Board was created by the Tax Reform Act of 1976.
C) The Securities and Exchange Commission (SEC) has oversight and enforcement authority over the board and its functioning.
D) The Public Company Accounting Oversight Board lacks the power to initiate any disciplinary actions against defaulting accountants.
C
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Which of the following is not an advantage of commercial software? Commercial software
a. can be installed faster than a custom system b. can be easily modified to the user's exact specifications c. is significantly less expensive than a system developed in-house d. is less likely to have errors than an equivalent system developed in-house