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Which of the following may an auditor use as a defense under the Securities Act of 1933?
a. Contributory Negligence b. Scienter c. Due Care d. Immaterial loss
On January 1, 20xx, Swenson Corporation had 40,000 shares of $10 par value common stock issued and outstanding. All 40,000 shares had been issued in a prior period at $20.00 per share. On February 1, 20xx, Swenson purchased 2,000 shares of treasury stock for $24 per share and later sold the treasury shares for $21 per share on March 1, 20xx. The journal entry to record the purchase of the
treasury shares on February 1, 20xx, would include a A) credit to Treasury Stock for $48,000. B) debit to Treasury Stock for $48,000. C) debit to a loss account for $6,000 D) credit to a gain account for $6,000.
Which of the following statements is true of target pricing?
A) It starts with the price that customers are willing to pay. B) It uses the full product cost that a company estimates to arrive at the sales price. C) It does not consider the nonmanufacturing costs when calculating the target cost. D) It is the same as cost-based pricing.
If either the principal or the agent petitions for bankruptcy, the agency is not usually terminated
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