All of the following are benefits the U.S. would gain from the adoption of globally consistent accounting standards except for:
A. Continued expansion of capital markets across national borders, facilitating more efficient use of global capital.
B. Reduction in reporting costs as the need for multiple sets of financial statements decreases.
C. Increased quality of information available to investors.
D. Nearly seamless transition with minimal expenses related to corporate governance considerations.
Answer: D
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Cybersquatting describes the practice of
A. registering multiple domain names and then selling them back to companies at inflated prices. B. hacking into a company's website to install a virus designed to cause the company's website to totally cease operation. C. hacking into a company's website to install a virus or Trojan horse designed to steal information but allow the site to continue operation. D. using mechanical devices to access a company's website multiple times to the point that traffic to the site is slowed or blocked.
The audit committee of the board of directors provides direct contact between the ______________________________ and the ________________________________________
Fill in the blank(s) with correct word
Which of the following statements about accounting systems is incorrect?
a. An effective accounting system provides an audit trail that allows frauds to be discovered. b. An effective accounting system makes concealment difficult. c. An effective accounting system can effectively prevent "kickbacks." d. Without a good accounting system, it is often difficult to distinguish between actual fraud and unintentional error.
One reason that products are likely to fail in the marketplace is ______.
A. misunderstanding the target market B. correct product positioning C. failure to meet government regulations D. failure to meet ISO requirements