Which of the following is a Questionable Practice that reflects an ethical issue?
A. starting meetings late
B. bribery
C. refusing to lay off employees
D. all of these
B. bribery
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What information is provided in an annual report in addition to the financial statements?
An interest rate swap in which a company has a fixed rate of interest and pays a variable rate is called a
A) cash flow hedge. B) fair value hedge. C) deferred hedge. D) hedge of foreign currency exposure of a net investment in foreign operations.
Answer the following statements true (T) or false (F)
1. If an asset is disposed of during the year, there is no need to calculate depreciation from the beginning of the year of disposal to the date of disposal. 2. A business, which has a calendar year accounting period, purchased an asset on March 1, 2018. The business disposed of the asset on August 31, 2019. For the calendar year 2019, depreciation should be calculated from January 1 to August 31. 3. If a business changes the estimated useful life, or estimated residual value, of a plant asset, depreciation expense must be recalculated. 4. When a company makes an accounting change in estimate, Generally Accepted Accounting Principles require that the company make changes to financial statements of prior years.
A court order prohibiting a defendant from continuing a certain activity would be called a(n):
a. injunction. b. indictment. c. edict. d. due care order.