Question: 1. The SEC: a. Frequently is criticized for developing financial accounting standards that are more complex than those established by the FASB b. Is entirely

1. The SEC:

a. Frequently is criticized for developing financial accounting standards that are more complex than those established by the FASB

b. Is entirely independent of the AICPA

c. Appoints the members of the AICPAs governing board, but otherwise is independent of the AICPA

d. Legally has the power to override the AICPA when their areas of jurisdiction conflict or overlap

2. Provisions of the Sarbanes-Oxley Act apply to:

a. Only the officers of publicly-traded companies only

b. All companies and certain individuals associated with them

c. Publicly-traded companies and certain individuals associated with them

d. Only the CEO and CFO of publicly-traded companies

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