According to the Model Business Corporation Act (MBCA), which of the following is an optional content that could be included in the articles of incorporation?
A. The purpose of the corporation
B. The name of the corporation
C. The name and address of each incorporator
D. The number of shares of capital stock that the corporation shall have authority to issue
Answer: A
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When employees exercise share options, the company records the gross proceeds received from the employees exercising options as cash inflows from investing activities
Indicate whether the statement is true or false
A change in the estimated useful life of a building
a. is not allowed by generally accepted accounting principles. b. affects the depreciation on the building beginning with the year of the change. c. must be handled as a retroactive adjustment to all accounts affected, back to the year of the acquisition of the building. d. creates a new account to be recognized on the income statement reflecting the difference in net income up to the beginning of the year of the change.
For which of the following situations would a business letter be more appropriate than an e-mail message?
A) Requesting information about a product B) Replying to a customer's e-mail asking about available shipping methods C) Soliciting donations for a community charity event D) Telling all employees how to purchase parking permits
Space Trips Inc files a registration statement with the SEC before making an offering to the general public. The registration contains false, immaterial statements of which the investors are unaware. Space Trips is charged with violating the Securities Act of 1933. Space Trips's best defense is
A) the investors were not aware of the misrepresentations B) the issuer reasonably believed the misstatements were true. C) the offering was made available to the general public. D) the untrue statements were not material.