Certificates of deposit are highly liquid and pay the highest investment returns

Indicate whether the statement is true or false.


Answer: FALSE

Business

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Accrued interest receivable is a(n)

a. revenue account; b. liability account; c. asset account; d. revenue account; e. expense.

Business

Which of the following is a possible indicator of concealment in a bankruptcy or divorce fraud?

a. Increases in operating losses that are not explained by economic factors b. The size of orders placed on credit and the credit balances with suppliers suddenly and dramatically decrease c. A sudden change in management is made without public notice d. The company sells goods at large discounts

Business

Operating leverage refers to the existence of fixed operating costs

Indicate whether the statement is true or false

Business

Under the provisions of the Sarbanes-Oxley Act, auditors must do which of the following?

A. Be hired by company management. B. Provide nonaudit services for their clients. C. Maintain working papers for at least seven years following an audit. D. Audit public companies whose chief executives worked for the audit firm in the preceding year.

Business