The Sarbanes-Oxley Act replaces generally accepted accounting principles in a manufacturing company.

Question

Quizplus · Accepted Answer

The Sarbanes-Oxley Act does not replace generally accepted accounting principles (GAAP) in a manufacturing company. Instead, it requires companies to follow strict internal controls and disclosure requirements to ensure the accuracy and transparency of financial reporting. Companies still need to follow GAAP in their accounting practices.

The Sarbanes-Oxley Act Replaces Generally Accepted Accounting Principles in a Manufacturing