Shareholders usually elect the corporation’s
A. directors.
B. managers.
C. officers.
D. members.
A. directors.
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If a lease is classified as a capital lease because the lease agreement contains a bargain purchase option, the time period to be used by the lessee to amortize the leased property is
A) the lease term. B) the expected economic life of the property. C) the lease term or the expected economic life of the property, whichever is shorter. D) the maximum amortization period for intangible assets.
Which of the following procedurea is not performed as part of an engagement quality review?
a. Evaluate judgments about materiality and the disposition of corrected and uncorrected identified misstatements. b. Call each board member to discuss the potential for fraud. c. Confirm with the lead audit partner that there are no significant unresolved matters. d. Evaluate whether appropriate levels of supervision and reviews of individual audit tasks were completed adequately during the audit.
Which of the following is true of general and limited partners in a limited partnership?
A) Limited partners are exempt from annual capital investment and need only participate in management functions. B) General partners are not personally liable for partnership debts. C) General partners are required to invest capital and refrain from managerial activities. D) Limited partners are not personally liable for partnership debts beyond their capital contributions.
Customer relationship software allows bank service representatives to determine quickly which types of accounts, loans, and credit cards a customer currently has. With this information, the service representative can determine what other bank services that same customer could potentially enroll in or purchase. This growth strategy is known as
A. product development. B. market penetration. C. diversification. D. product proliferation. E. market development.