Giving people the authority to make decisions and take action in their work areas is called which of
the following?
A) organizational skills
B) empowerment
C) teamwork
D) any of the above
E) none of the above
B
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Which of the following is the auditor's primary objective when auditing debt obligations?
a. Understatement of the debt obligation focusing on the completeness assertion. b. Proper valuation of bond premiums or bond discounts, including amortization valuation. c. Valuation of gains or losses on refinancing debt. d. Proper presentation and disclosure, including important restrictions contained in the debt obligations.
Freiman Corporation's most recent balance sheet and income statement appear below:Balance SheetDecember 31, Year 2 and Year 1(in thousands of dollars) Year 2Year 1Assets Current assets: Cash$166? $126? Accounts receivable, net 235? 255? Inventory 126? 136? Prepaid expenses 43? 43? Total current assets 570? 560? Plant and equipment, net 730? 730? Total assets$1300? $1290? Liabilities and Stockholders' Equity Current liabilities: Accounts payable$136? $156? Accrued liabilities 93? 93? Notes payable, short term 63? 73? Total current liabilities 292? 322? Bonds payable 289? 299? Total liabilities 581? 621? Stockholders'
equity: Common stock, $2 par value 106? 106? Additional paid-in capital 215? 215? Retained earnings 398? 348? Total stockholders' equity 719? 669? Total liabilities & stockholders' equity$1300? $1290? Income StatementFor the Year Ended December 31, Year 2(in thousands of dollars)Sales (all on account)$1430? Cost of goods sold 840? Gross margin 590? Selling and administrative expenses 374? Net operating income 216? Interest expense 41? Net income before taxes 175? Income taxes (30%) 53? Net income$122? The current ratio at the end of Year 2 is closest to: A. 1.07 B. 0.48 C. 1.95 D. 0.47
In an office setting, when two coworkers are walking up the stairs, the man should precede (walk in front of) the woman going up the stairs
Indicate whether the statement is true or false.
Firms raise outside financial capital through the sale of stocks in the secondary markets
Indicate whether this statement is true or false.