Financial scandals around the turn of this century at Enron,WorldCom,Adelphia,HealthSouth,and others led to which of the following?
A)Greater reliance on nonstandard accounting practices
B)Less reliance on nonstandard accounting practices
C)New laws and governmental rulings that limit business's discretionary actions
D)Revocation of laws and rulings that limit business's discretionary actions

Question

Quizplus · Accepted Answer

The financial scandals led to new laws and governmental rulings that limit business's discretionary actions, such as the Sarbanes-Oxley Act, which increased regulation and oversight of corporate accounting practices. This was done in an effort to prevent future scandals and restore public trust in the corporate world.

Financial Scandals Around the Turn of This Century at Enron,WorldCom,Adelphia,HealthSouth,and