A legitimate seniority system is legal even if it perpetrates past discrimination
Indicate whether the statement is true or false
True
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If management or those charged with governance do not demonstrate a commitment to internal control over noncompliance with laws and regulations, then the auditor should withdraw from the engagement
a. True b. False Indicate whether the statement is true or false
To coerce means to ______.
A. influence others toward a common goal B. influence others to behave ethically C. influence others to do something against their will D. influence others using positive rewards
Protective Corporation acquired 70 percent of the common shares and 60 percent of the preferred shares of Safety Corporation at underlying book value on January 1, 20X6. At that date, the fair value of the noncontrolling interest in Safety's common stock was equal to 30 percent of the book value of its common stock. Safety's balance sheet at the time of acquisition contained the following balances: Assets$700,000 Liabilities$110,000 Preferred Stock 100,000 Common Stock 200,000 Retained Earnings 290,000 Total Assets$700,000 Total Liabilities and Equities$700,000 The preferred shares are cumulative and have an 8 percent annual dividend rate and are three years in arrears on January 1, 20X6. All of the $10 par value preferred shares are callable
at $12 per share. During 20X6, Safety reported net income of $80,000 and paid no dividends.Based on the information provided, what is the book value of the common stock on January 1, 20X6? A. $390,000 B. $490,000 C. $446,000 D. $420,000
_______ is the work process of obtaining an estimate of the worth in monetary terms of some present or proposed market offering or elements of it
a. Value assessment b. Benchmarking c. Monitoring competition d. Sales forecasting