Corporate Governance Quiz

What is a corporation?

• A business owned by a single individual

• A legal entity created by shareholders

• A government-controlled organization

• A temporary business arrangement

The Sarbanes-Oxley Act (SOX) was enacted in response to:

• Economic recessions

• The financial crisis of 2008

• Major corporate scandals like Enron and WorldCom

• Changes in tax regulations

Which of the following is NOT a key provision of SOX?

• Increased corporate responsibility

• Stronger internal controls

• Elimination of financial reporting requirements

• Stricter penalties for fraud

The OECD was established to:

• Promote international economic growth and trade

• Create global corporate laws

• Regulate multinational corporations

• Provide financial assistance to developing nations

The Philippine Corporation Code was revised in:

• 1980

• 2002

• 2016

• 2019

The Philippine Code of Corporate Governance aims to ensure:

• Business monopolies

• Corporate secrecy

• Transparency and ethical conduct

• Government intervention in businesses

Which government agency introduced the Philippine Code of Corporate Governance?

• Department of Trade and Industry

• Securities and Exchange Commission

• Bangko Sentral ng Pilipinas

• Bureau of Internal Revenue

Political issues that affect corporate governance include:

• Climate change and healthcare

• Employee salaries

• Consumer preferences

• Technological advancements

The OECD helps in global anti-corruption efforts by:

• Encouraging bribery for business expansion

• Establishing corporate monopolies

• Developing policies to combat corruption

• Reducing international trade

Which of the following is NOT a major revision in the Revised Corporation Code?

• Increase in ease of doing business

• Stronger shareholder protection

• Elimination of corporate taxation

• Updated corporate governance standards