It is possible to copyright an idea
a. True
b. False
Indicate whether the statement is true or false
False
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Why do businesses invest in short-term investments?
a. They are trying to gain control over the activities of other companies. b. They are investing excess cash to meet future business operation or investment needs. c. They are lending money to companies that cannot obtain bank loans. d. More than one of the above is correct.
Which of the following statements best describes the act of collusion?
A) Collusion is caused by an overstatement of ending inventory. B) Collusion is an intentional act of two or more employees to accomplish theft of company assets. C) Collusion is one of the necessary outcomes of a system of internal control over financial reporting. D) Collusion is enhanced by an effective system of independent reconciliations and other checks on recorded amounts.
American law is not dynamic; rather, its precepts are "written in stone."
Indicate whether the statement is true or false
Which statement most accurately describes third party beneficiary rights?
a. A beneficiary may enforce a contract if the parties intended to benefit him and if enforcing the promise will satisfy a duty of the promisee to the beneficiary. b. If a promisee intended to make a gift to the beneficiary, the beneficiary may not enforce the contract. c. An intended third party beneficiary has no enforceable rights in a contract. d. Incidental beneficiaries have enforceable rights against both contracting parties.