All financial statements submitted to the SEC by publicly owned corporations must include an auditor's report prepared by
A. an independent certified public accountant.
B. an internal auditor.
C. the firm's managerial accountant.
D. anyone in the accounting department.
Answer: A
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All of the following statements are true about a 3-for-1 split, except:
a. Total contributed capital increases. b. The market price will probably decrease. c. Par value per share is reduced to one-third of what it was before the split. d. A stockholder with twenty shares before the split owns sixty shares after the split.
Which of the following is not true about production departments?
a. They perform the actual manufacturing operations that physically change the units being produced. b. Since they receive the benefit of work performed by service departments, service department costs should be distributed to them. c. The cost of production departments should be distributed to other production departments that benefit from their operations. d. Machining and painting would be examples of production departments.
Which of the following is true of public relations?
A) It provides quick incentives to make product purchases. B) It emphasizes news and events rather than sales C) It involves training a dedicated sales force to meet customers. D) It cannot be used to dramatize a product or company. E) It is the most widely used promotional tool.
If a 20-year bond pays interest of 8 percent semiannually, the present value of the bond is calculated based upon (1 ) 4 percent and 40 periods for the interest, and (2 ) 8 percent and 20 periods for the face amount of the bond
Indicate whether the statement is true or false