Asked by Frank Renteria on Jun 26, 2024
Verified
Under the Sarbanes-Oxley Act, which of the following is true regarding the destruction of documents in a federal bankruptcy investigation?
A) The destruction of documents in a federal bankruptcy investigation is a misdemeanor with possible sentences of up to 364 days in jail.
B) The destruction of documents in a federal bankruptcy investigation is a felony with possible sentences of up to 364 days in jail.
C) The destruction of documents in a federal bankruptcy investigation is a felony with possible sentences of up to 5 years in jail.
D) The destruction of documents in a federal bankruptcy investigation is a felony with possible sentences of up to 20 years in jail.
E) The destruction of documents in a federal bankruptcy investigation is a felony with possible sentences of life imprisonment.
Sarbanes-Oxley Act
A United States federal law established to protect investors by improving the accuracy and reliability of corporate disclosures.
Federal Bankruptcy Investigation
A process conducted by a government agency to examine the circumstances and legitimacy of a bankruptcy filing, ensuring compliance with bankruptcy laws.
Document Destruction
The process of eliminating or disposing of documents to prevent confidential information from being leaked or used improperly.
- Understand the principles and applications of the Sarbanes-Oxley Act and other laws concerning document destruction and corporate fraud.
Verified Answer
Learning Objectives
- Understand the principles and applications of the Sarbanes-Oxley Act and other laws concerning document destruction and corporate fraud.
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