The potential lower returns on mutual funds versus the potential returns on individual stocks is due to poor performance by the fund managers
Indicate whether this statement is true or false.
Answer: FALSE
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The journal entry for accrued interest on a note payable includes
a. crediting Interest Expense. b. debiting Accrued Interest Receivable and crediting Interest Revenue. c. debiting Accrued Interest Payable and crediting Interest Expense. d. debiting Interest Expense and crediting Accrued Interest Payable.
Corporate earnings do not have to be distributed to the stockholders
Indicate whether the statement is true or false
Answer the following statements true (T) or false (F)
1. The presence of an ethics and compliance officer (ECO) is usually limited to large organizations. 2. “Ethics assist line” is a more accurate term for those types of communication channels than “ethics hotline.” 3. Third-party contracted ethics assist lines are more common, but they have fewer advantages than lines created and hosted by an organization itself. 4. Whistleblowing should generally be considered only after all communication channels within an organization have been exhausted. 5. The IRS’s Whistleblower Reward Program does not qualify for reporting on individuals, only companies with tax fraud in excess of $2 million.
One advantage of the corporate form of organization is the:
A. taxation of the corporate profits. B. unlimited liability for its shareholders. C. double taxation of profits. D. ability to raise larger sums of equity capital than other organizational forms. E. ease of formation compared to other organizational forms.