Which type of corporation spans national boundaries and is subject to regulation in multiple countries?
A) Publicly held
B) Limited liability
C) Subchapter S
D) Professional
E) Multinational
Answer: E
Explanation: E) A multinational (or transnational) corporation spans national boundaries. Stock may be traded on the exchanges of several countries, and managers are likely to be of different nationalities.
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Hawthorne Corp. entrusted Edgar, an independent accountant, to prepare an audit report to apply for a loan from Daft Corp. Edgar accepted the accuracy of the client's books without proper investigation while representing that he had completed Hawthorne's audit. A careful audit, however, discovers later that an employee of Hawthorne Inc. was regularly embezzling funds. In this scenario, Edgar:
A. will not be liable to Hawthorne Corp. to return the fee for the audit because the loan was not provided by Daft Corp. B. will be liable to Daft Corp. as well as any other creditor who provided loans to Hawthorne Corp. based on his audited financial statements. C. will be liable to Hawthorne Corp. for any losses it suffered from the time when his audit should have discovered the embezzlement. D. will not be liable to any of the parties as he does not owe them the duty of superior skill or careful scrutiny.
Required reserves are insurance against the costs associated with deposit outflows. The higher the costs associated with deposit outflows, the more required reserves banks will want to hold
Indicate whether the statement is true or false
Which of the following statements regarding communication after the sale is true?
a. Communication should end at least 10 days prior to signing a buy agreement. b. Communication is a key step between the seller and the buyer and between the buyer and the current management personnel. c. Continued communication through the transition to new ownership is not critical. d. Communication should end at the time the buy agreement is signed.
Corporate codes of conduct were initially adopted by companies that were looking to counter bad publicity and damage to their brands after being "caught" in some highly publicized labor abuse scandals.
Answer the following statement true (T) or false (F)