An agent working for two principals at the same time violates the duty of
a. obedience.
b. loyalty.
c. accurate accounting.
d. reasonable skill.
B
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The quality of accounting information that allows a user to compare two or more accounting periods for a single company is known as consistency
a. True b. False Indicate whether the statement is true or false
An example of a tangible benefit is
a. increased customer satisfaction b. more current information c. reduced inventories d. faster response to competitor actions
Larry is part of the Board of Governors that manages U.S. monetary policy. He has been elected by the President to serve a single 14-year term. In addition to setting the monetary policy, he is responsible for extending banking services to commercial banks. In this scenario, Larry is most likely part of the _____.
A. Federal Reserve B. Department of Commerce C. Bureau of Economic Analysis D. U.S. Treasury
In 2015, self-employed individuals paid FICA taxes at a rate of
A) 1.45 percent. B) 7.65 percent. C) 13.3 percent. D) 15.3 percent.