The Securities Act of 1934 requires continuous disclosure of certain information regarding publicly traded securities
a. True
b. False
Indicate whether the statement is true or false
True
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All of the following are examples of communication noise except:
A) driving while listening to the radio B) scanning the newspaper for articles to read C) scrolling past Internet ads without looking at them D) examining an advertisement in a magazine
Delisa invests office equipment with a fair market value of $70,000, delivery equipment with a fair market value of $89,000, and cash of $54,000 . She owes $68,000, represented by a note on the delivery equipment. If Delisa's office equipment cost $80,000 and has accumulated depreciation of $30,000, the amount at which the asset should be entered on the books of the new partnership would be
a. $50,000. b. $70,000. c. $80,000. d. $89,000.
The accounts payable turnover ratio uses purchases on account in its computation. Although firms do not disclose their purchases, the analyst can calculate the purchase amount as follows:
a. Purchases = Cost of Goods Sold + Ending Inventory + Beginning Inventory b. Purchases = Cost of Goods Sold + Ending Inventory - Beginning Inventory c. Purchases = Cost of Goods Sold - Ending Inventory + Beginning Inventory d. Purchases = Cost of Goods Sold - Ending Inventory - Beginning Inventory e. Purchases = Cost of Goods Sold x Ending Inventory - Beginning Inventory
Income before taxes for financial reporting usually differs from taxable income reported to tax authorities. Which of the following is/are not true?
a. Some of the differences may arise because of permanent differences (items that affect income for financial reporting but never affect taxable income, or vice versa). b. Some of the differences may arise because of temporary differences (items that affect income for financial reporting in a different period than for tax reporting). c. The difference between income tax expense and income tax payable represents the tax effects of permanent differences: either the firm will receive future benefits (deferred tax assets) or it must pay future taxes (deferred tax liabilities). d. U.S. GAAP and IFRS require firms to measure income tax expense based on income for financial reporting (excluding permanent differences) and the income tax authorities impose taxes on taxable income. e. all of the above