Proxy statements are:
A. materials submitted to shareholders for votes on corporate matters.
B. filed by an entity that acquires a beneficial ownership of more than 5 percent in a company.
C. interim financial statements need not be audited.
D. used to disclose unscheduled material events.
Answer: A
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Which of the following is NOT a element of internal controls for inventory?
a. Authorization for all purchases. b. Proper accounting for receipt of inventory. c. Perpetual inventory system. d. Rapid introduction of new products without market studies.
The process of buying television advertising time is so simple that even the largest advertisers perform the task in-house.
Answer the following statement true (T) or false (F)
When a firm reacquires common shares under the Cost Method:
a. the Treasury Stock—Common account has a debit balance and therefore reduces total shareholders' equity. b. the accountant debits the Treasury Stock—Common account for the par value of the repurchased shares, debits Additional Paid-In Capital for the difference between the original issue price of the shares and par value, and plugs Retained Earnings for any difference between the repurchase price. c. the accountant debits the Common Stock account for the par value of the repurchased shares, debits Additional Paid-In Capital for the difference between the original issue price of the shares and par value, and plugs Retained Earnings for any difference between the repurchase price. d. the Treasury Stock—Common account has a credit balance and therefore reduces total shareholders' equity. e. the accountant credits the Common Stock account for the par value of the repurchased shares, credits Additional Paid-In Capital for the difference between the original issue price of the shares and par value, and plugs Retained Earnings for any difference between the repurchase price.
Which of the following properties of a binomial experiment is called the stationarity assumption?
A. The experiment consists of n identical trials. B. Two outcomes are possible on each trial. C. The probability of success is the same for each trial. D. The trials are independent.