The Investment Company Act of 1940 regulates:
a. open-end companies (mutual funds)
b. closely held companies c. stock exchanges
d. over-the-counter (OTC) exchanges e. all of the other choices
a
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Vouching is used primarily to test which of the following assertions about classes of transaction?
A. Classification. B. Completeness. C. Occurrence. D. Authorization.
Which of the following is true of price elasticity?
A) When the price elasticity equals 0, we have unitary elasticity where the percentage change in volume is equal to the percentage change in price. B) Price elasticity is almost always a negative number due to the inverse relationship between price and volume. C) Prestige products that can see an increase in demand when their prices are increased have negative price elasticity. D) Price elasticities between –1 and –10 are inelastic because the percentage change in volume is greater than the percentage change in price. E) Price elasticities between zero and -1 are considered elastic, as the percentage change in volume is less than the percentage change in price.
Using several scale items to measure the characteristic of interest provides more accurate measurement than a single-item scale
Indicate whether the statement is true or false
Under the perpetual inventory system, the Cost of Goods Sold account is updated continually throughout the period
Indicate whether the statement is true or false