Daniel went onto an Internet message board and found that his ex-wife, Faye, had posted a message calling him a fat, insensitive jerk who only cared about watching sports on TV. Does Daniel have any protection against Faye making such statements to a potentially large number of readers, some of whom may know Daniel and some of whom may not?
Faye's postings have First Amendment protection of free speech, as long as Fay does not commit defamation. Courts have tended to find that such statements are opinion, not fact, and therefore are protected speech. The fact that a statement may be offensive is not reason enough to suppress it.
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Which of the following statements best describes an inherent limitation of the monetary-unit sampling method?
A. It requires the use of a computer system to perform the required calculations. B. It can only be used for substantive testing of asset accounts. C. Misstatement rates must be large and the misstatements must be overstatements. D. Misstatement rates must be small and the misstatements must be overstatements.
Russ Belmont is a staff accountant at a bank in the downtown Phoenix area. Belmont is sent to various branches throughout the state to do audits and has an accident while en route to one of the audits. Which of the following statements is true?
Negligence causing a material misstatement will subject a party to liability under Rule 10b-5 of
the Securities Exchange Act of 1934. Indicate whether the statement is true or false
Actual manufacturing overhead costs are credited to the Manufacturing Overhead account
Indicate whether the statement is true or false