Due to various fraudulent business practices and accounting coverups in the early 2000's, Congress enacted the Sarbanes-Oxley Act of 2002. The Act was responsible for establishing a new oversight board for public accountants called the
A) Generally Accepted Accounting Practices for Public Accountants Board.
B) Public Company Accounting Oversight Board.
C) Congressional Accounting Oversight Board.
D) None are correct.
B
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Intentional misrepresentation occurs when a seller or lessor ________
A) fails to warn customers about the dangerous propensities of a product B) shows negligence in product design C) fails to assemble a product carefully D) conceals a defect in a product
An investor who requires a 12% percent return for a stock that pays no dividends and requires a 9%
return for a stock that pays its entire return from dividends is most likely a proponent of A) the information effect. B) the clientele effect. C) the bird-in-the-hand dividend theory. D) the residual dividend theory.
Refer to Instruction 8.1. After the fact, under which set of circumstances would you prefer strategy #2? (Assume your firm is borrowing money.)
A) Your credit rating stayed the same and interest rates went up. B) Your credit rating stayed the same and interest rates went down. C) Your credit rating improved and interest rates went down. D) Not enough information to make a judgment.
Which of the following is true of creative destruction?
A) It makes use of illegal innovations and techniques to displace established businesses. B) It presents newcomers with an opportunity to succeed against incumbents in an industry. C) It happens when technologies that provide process-streamlining advantages come to the fore. D) It increases the operational costs of the entire industry and reduces profits.