Which of the following observations concerning backdating of options is true?
a. It will not result in restatement of financial statements.
b. The extraordinary timing and frequency of occurrences defied statistical probability.
c. There is no concrete evidence that managers gained because of this practice.
d. It is an accepted means of compensating managers who perform exceedingly well.
b
FEEDBACK: a. Incorrect.
b. Correct.
c. Incorrect.
d. Incorrect.
You might also like to view...
Texas Inc sold merchandise to Fagin Corp on December 28, 2016, with shipping terms of FOB destination. Fagin Corp received the merchandise on January 3, 2017 . Which one of the following statements is true?
a. Texas should record sales revenue on December 28, 2016. b. Fagin Corp. should include the merchandise in its inventory at December 31, 2016. c. Fagin Corp. should record a liability for the purchase on January 3, 2017. d. Fagin Corp. should pay the transportation costs.
A manufacturing company that has only one product has established the following standards for its variable manufacturing overhead. The company bases its variable manufacturing overhead standards on direct labor-hours. Standard hours per unit of output 7.2DLHsStandard variable overhead rate$14.20per DLH?The following data pertain to operations for the last month: Actual direct labor-hours 5,100DLHsActual total variable manufacturing overhead cost$72,165 Actual output 600units?What is the variable overhead rate variance for the month?
A. $10,821 F B. $255 F C. $255 U D. $10,821 U
Pampers divides its market demographically on the basis of ________ into prenatal, new baby, baby, toddler, and preschooler
A) life stage B) gender C) age D) income E) social class
Ribaudo Corporation has provided the following financial data from its balance sheet and income statement: Year 2Year 1Cash$74,000 $130,000 Accounts receivable, net$255,000 $240,000 Inventory$173,000 $180,000 Total current assets$564,000 $610,000 Total assets$1,350,000 $1,330,000 Accounts payable$170,000 $160,000 Total liabilities$633,000 $620,000 Total stockholders' equity$717,000 $710,000 Sales (all on account)$1,290,000 Cost of goods sold$700,000 The company's total asset turnover for Year 2 is closest to:
A. 1.04 B. 0.96 C. 0.19 D. 5.29