In addition to traditional institutional investors, a growing set of activist investors aggressively pressure firm managers for major changes. These activist investors include individual investors, such as ________, and activist investor funds, such as ________.
A. CalPERS; Bill Gates
B. ValuAct; Trian
C. Carl Icahn; Pershing Square.
D. Berkshire Hathaway; Warren Buffet.
Answer: C
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Holten Farm sells new tractors and pays each salesperson a commission of $1,000 for each tractor sold. During the month of August, a salesperson, Fred, sold 3 new tractors. Jacob pays Jason on the 10th day of the month following the sale. Fred operates on the cash basis; the tractor dealer operates on the accrual basis. Which of the following statements is true?
a. Fred will recognize commission revenue earned in the amount of $3,000 in August. b. Jacob will recognize commission expense in the amount of $3,000 in August. c. Fred will recognize commission expense in the amount of $3,000 in September. d. Fred will recognize revenue in the same month that the tractor dealer recognizes expense.
Debbie recently purchased some property that she knew used to be home to a chemical plant 50 years ago. The plant was removed 30 years ago. Today the property is full of trees and the stream running through it is clear and looks clean, but Debbie did not commission any environmental testing to confirm this fact. Last month the EPA determined that her property, as well as several neighboring properties, is contaminated. The EPA placed the entire site on the National Priorities List for cleanup. Discuss Debbie's potential liability for the contamination caused by the hazardous waste.
What will be an ideal response?
Listed below are six of the seven assertions about classes of transactions and events made in the purchasing process. For each, give an example of how an auditor could use one of the typical documents in the purchasing process to test the assertion.OccurrenceCompletenessAuthorizationAccuracyCutoffClassification
What will be an ideal response?
The boards of directors for Family Eldercare and Meals on Wheels decided not to merge due to ______.
A. internal conflict B. financial issues C. client opposition D. different planning strategies