Kelly, the owner of Llama Farms, a sole proprietorship, wants to obtain additional business capital but to maintain control. This can best be accomplished by
a. borrowing funds.
b. bringing in partners.
c. issuing stock.
d. selling the business.
a
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Which of the following would be added to net income in computing cash flows from operating activities?
A) an increase in accounts receivable B) an increase in inventories C) a decrease in deferred taxes payable D) a decrease in prepaid expenses
Public confidence is mostly maintained by the public accounting profession through integrity based on personal moral standards and it is reinforced by codes of conduct
a. True b. False Indicate whether the statement is true or false
The presence of business skills will increase the opportunities available to a technical professional and increase his or her speed of advancement.
Answer the following statement true (T) or false (F)
A group of investors brings a class action lawsuit against the Z & R Accounting Firm under Section 10b and Rule 10b-5 of the 1934 Securities Act. Angela, an accountant with the firm, had done an audit of the Pennymart Inc books. The audit failed to
disclose that Orrin, the president of Pennymart, had stolen large amounts of cash from the firm. Pennymart eventually filed for bankruptcy as a result of the thefts. What is the likely result of the suit?