Considering current laws that deal with misstatements of financial results, which of the following statements is correct?
A. Managers found guilty can escape paying fines if they declare bankruptcy.
B. Managers can be sentenced to maximum jail terms of up to 20 years for each violation.
C. Managers found guilty may keep any bonuses or profits from the misrepresentation if their fines are less than such bonuses or profits.
D. Whistleblowers who secretly submit concerns about questionable accounting practices will be fired.
Answer:B
Considering current laws that deal with misstatements of financial results, which of the following statements is correct?
A. Managers found guilty can escape paying fines if they declare bankruptcy. B. Managers can be sentenced to maximum jail terms of up to 20 years for each violation. C. Managers found guilty may keep any bonuses or profits from the misrepresentation if their fines are less than such bonuses or profits. D. Whistleblowers who secretly submit concerns about questionable accounting practices will be fired.