Which of the following is an auditor most likely to confirm from the transfer agent and registrar?
A. Total shares of stock issued.
B. Restrictions on the payment of dividends.
C. Gains from sale of treasury stock.
D. Total market value of outstanding shares of stock.
Answer: A
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Indicate whether the statement is true or false
Self-employed people are required to make quarterly payments of their estimated tax liability.
Answer the following statement true (T) or false (F)
Which of the following statements regarding ratio analysis is incorrect?
A. Ratio analysis involves making comparisons between different accounts in the same set of financial statements. B. Ratio analysis is a specific form of horizontal analysis. C. There are many different ratios available for evaluating a firm's performance. D. Some ratios involve an account from the balance sheet and one from the income statement.
The 28/36 rule says that as long as your total debt payments are under 36 percent of your gross income then you are not overextended
Indicate whether this statement is true or false.