For available-for-sale debt investments, state:
• Reporting method used
• How unrealized holding gain or loss is reported
• Balance sheet effects
• Income statement effects
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Which of the following is an inappropriate interview question?
A. Have you ever worked under a different name? B. If hired, can you prove your age? C. What is your race? D. What is your address?
An advantage of administrative agencies is that they:
a. relieve legislatures from trying to create legislation that deals with every detail of a specific problem. b. can be specialized bodies staffed by individuals with expertise in the regulated field. c. can be concerned about compliance with constitutional mandates since they perform powers of all three branches of government. d. All of these.
Which of the following statements is CORRECT? (Assume that the risk-free rate is a constant.)
A. If the market risk premium increases by 1%, then the required return will increase for stocks that have a beta greater than 1.0, but it will decrease for stocks that have a beta less than 1.0. B. The effect of a change in the market risk premium depends on the slope of the yield curve. C. If the market risk premium increases by 1%, then the required return on all stocks will rise by 1%. D. If the market risk premium increases by 1%, then the required return will increase by 1% for a stock that has a beta of 1.0. E. The effect of a change in the market risk premium depends on the level of the risk-free rate.
A disadvantage of the corporate form of business organization is
a. limited life. b. unlimited liability for debts. c. double taxation. d. difficulty of transferring ownership interest.