Question

in response to widespread fraudulent reporting in the late 1990’s and early 2000’s, congress
multiple choice
organized the internal revenue service.
passed the sarbanes - oxley act.
established the financial accounting standards board.
enacted the securities and exchange commission.

Explanation:

The Sarbanes - Oxley Act was passed in 2002 in response to corporate accounting scandals and fraudulent reporting in the late 1990s and early 2000s. It aimed to improve corporate governance and financial reporting accuracy. The Internal Revenue Service has to do with tax - related matters, the Financial Accounting Standards Board sets accounting standards (but not as a direct response to this fraud), and the Securities and Exchange Commission was established earlier for broader securities - market regulation.

Answer:

B. Passed the Sarbanes - Oxley Act