The if-converted method of computing EPS data assumes conversion of convertible securities at the

a. beginning of the earliest period reported (or at time of issuance, if later).
b. beginning of the earliest period reported (regardless of time of issuance).
c. middle of the earliest period reported (regardless of time of issuance).
d. ending of the earliest period reported (regardless of time of issuance).


A

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According to Harvard Business School professor John Kotter, managers today spend only a quarter of their time:

a. Working with the boss b. Working with people outside the organization c. Working alone d. Working with their subordinates e. Working with clients

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If Carly's husband were to die, she and her children could live on $50,100 per year. Carly makes $28,500 annually, and estimates additional income of $8,300 from other sources. How much insurance should she purchase on her husband to cover the shortfall, assuming a 17.7% prevailing interest rate? (Round to nearest $1,000)

A) $57,000 B) $84,000 C) $156,000 D) $75,000

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Which element of internal control deals with establishing procedures for things such as handling of incoming checks?

A) Monitoring B) Control environment C) Control activities D) Risk assessment

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Which of the following is not a characteristic of financial accounting?

A. Information is used by external parties. B. Information is objective, reliable and historical. C. Reports are prepared periodically. D. Information is reported at the decision making level.

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