To form an LLC, both a charter and an operating agreement must be filed with the Secretary of State in the jurisdiction where the business will operate
a. True
b. False
Indicate whether the statement is true or false
False
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If, after issuing an audit report, the auditors find that they have failed to perform certain significant audit procedures they should first:
A. Wait until the beginning of the next year's audit to determine whether misstatements have occurred. B. Notify regulatory agencies. C. Attempt to determine whether their report is still being relied upon by third parties. D. Notify legal counsel.
Diamond Drill has 150,000 shares of stock outstanding at a market price of $46 a share. The holder of a $1,000 face value bond can exchange the bond at any time for 25 shares of stock. What is the conversion price?
A) $40 B) $46 C) $43 D) $25 E) $20
Gemini Inc.'s optimal cash transfer amount, using the Baumol model, is $60,000. The firm's fixed cost per cash transfer of marketable securities to cash is $180, and the total cash needed for transactions annually is $960,000. On what opportunity cost of holding cash was this analysis based?
A. 19.2% B. 10.4% C. 6.3% D. 12.1% E. 9.6%
The Consumer Product Safety Commission has the power to ban the sales of products that expose consumers to unreasonable risks.
a. true b. false