Both U.S. GAAP and IFRS require the disclosure of information about the rights of each type of capital stock outstanding
Indicate whether the statement is true or false
T
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Investments in bonds that management intends to hold to maturity are called trading securities
a. True b. False Indicate whether the statement is true or false
Liquidity refers to the speed with which the asset can be converted to an expense
Indicate whether the statement is true or false
Kermit Wong invents a new type of computer even smaller than a calculator and patents the invention. A large U.S. computer company buys the rights and makes the units at its California plant, whence it ships them across North America
Kermit realizes that he could make them more cheaply, but the computer company refuses to give him a licence to do so in Canada. Which of the following is true? A) Kermit can apply for a compulsory licence and the government will permit him to make and sell the units in Canada. B) There is nothing Kermit can do C) Kermit can apply but will be unsuccessful in obtaining a compulsory licence because the patent holder is using the patent. D) Kermit can apply but will be unsuccessful because compulsory licensing only applies to drugs. E) Kermit can apply but will be unsuccessful in obtaining a compulsory licence because the patent holder is selling the computer in Canada.
Ratzo is asked to be a witness to Sade's will. Before attesting to the will,
A. Ratzo does not have to read the will or be informed of its contents. B. Ratzo must read the will and recite its contents. C. Sade must orally tell Ratzo of the will's contents. D. Sade's attorney must read the will aloud to Ratzo.