Which of the Following Is True of the Sarbanes-Oxley Act

Multiple Choice

Which of the following is true of the Sarbanes-Oxley Act of 2002?

A) The act requires at least 30 percent of the businesses in the United States to be formed as S corporations.
B) The act requires a limited liability company to have a committee that consists of inside directors to oversee the firm's audits.
C) The act requires a limited liability company to be taxed like a proprietorship.
D) The act requires an S corporation to have more than 100 stockholders (members) and more than one type of stock.
E) The act requires a publicly-traded corporation to hire an external auditing firm that renders an unbiased opinion concerning the firm's financial statements.