"Deontology" is another name for duty ethics
Indicate whether the statement is true or false
TRUE
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If an investment in stock is reclassified from available-for-sale securities to trading securities, the stock should be recorded on the date it is reclassified at the
a. market value at the date of acquisition. b. book value at the date of reclassification. c. market value at the date of reclassification. d. lower-of-cost-or-market value at the date of reclassification.
Which of the following is correct regarding the business judgment rule?
A) Directors and officers are not liable for honest mistakes of judgment. B) Directors and officers have an obligation to exercise sound business judgment, and any failure to do so results in a rebuttable presumption of negligence. C) Directors and officers are never liable in suits filed against them by shareholders. D) Directors and officers are liable for gross negligence, but not for ordinary negligence. E) Directors and officers have an obligation to exercise sound business judgment, and any failure to do so is per se negligence that results in liability to the corporation.
Internal control policies and procedures have limitations not including:
A. Establishing responsibilities. B. Human error. C. Human fraud. D. Cost-benefit principle. E. Collusion.
Indicate whether each of the following statements about financial statement analysis is true or false.________ a) Both dividends and earnings performance are indicators of the value of a company's stock.________ b) The most widely quoted measure of a company's earnings performance is return on equity.________ c) Earnings per share is calculated for a company's common stock.________ d) Investors need to understand that the value of a company's earnings per share is affected by its choices of accounting principles and assumptions.________ e) The book value per share measures the market value of a corporation's stock.
What will be an ideal response?