Self-dealing is when shareholders use their position to deprive the board of directors of personal monetary gain
Indicate whether the statement is true or false
FALSE
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Businesspersons who would choose to act unethically may be deterred from doing so because of public opinion.
Answer the following statement true (T) or false (F)
No formal steps are necessary to create a sole proprietorship.
Answer the following statement true (T) or false (F)
Which of the following is an advantage of statistical sampling?
A) It permits a less rigid approach to unique audit problems. B) It permits auditors to use a computer to select a random sample. C) It requires auditors to be exact in their judgments on risk and materiality. D) It uses an evaluation method that allows evaluation of the sample on factors other than the sample evidence.
When calculating the return on common equity ratio, dividends to preferred stockholders are deducted from net income because
A. the ratio is an indicator of the return on common stockholders equity rather than the return on total equity. B. dividends are not expenses on the current period income statement. C. conservatism indicates that stockholders prefer a smaller numerator. D. dividends are only available for distribution to common stockholders after the preferred stockholders have received their dividends.