Question

Brad is an executive of Music Masters, a wedding and special events DJ music service. For years, he successfully hid illegal and misleading accounting practices, but eventually, he was exposed and punished with a jail sentence under the ________ Act. A. Glass-Steagall B. Gramm-Leach-Bliley C. Dodd-Frank D. Celler-Kefauver E. Sarbanes-Oxley

Answer 1

Answer:E. Sarbanes-Oxley

Explanation:The Sarbanes-Oxley Act of 2002 is a law the U.S. Congress passed on July 30 of that year to help protect investors from fraudulent financial reporting by corporations. Also known as the SOX Act of 2002 and the Corporate Responsibility Act of 2002, it mandated strict reforms to existing securities regulations and imposed tough new penalties on lawbreakers.

The Sarbanes-Oxley Act of 2002 came in response to financial scandals in the early 2000s involving publicly traded companies such as Enron Corporation, Tyco International plc, and WorldCom. The high-profile frauds shook investor confidence in the trustworthiness of corporate financial statements and led many to demand an overhaul of decades-old regulatory standards.

Answer 2

Answer:

Sarbanes - Oxley act ( E )

Explanation:

The Sarbanes - Oxley act was an act passed into law by congress  in 2002            which is meant to protect investors from fraudulent companies/corporations who seem to file a misleading accounting information in order to invade paying its investors the necessary dividends due to the investors usually shareholders of the company.

Brad an executive of Music Masters a company that provides services and probably have investors giving misleading accounting practices is a breach of the Sarbanes Act and Brad will be punished under the act.