When the FASB deliberates about an accounting standard, firms whose financial statements would be affected by that standard
a. are legally barred from lobbying the FASB.
b. are not allowed to lobby the FASB if the standard would have a negative impact on their financial statements.
c. are not allowed to lobby the FASB if the standard would have a positive impact on their financial statements.
d. are free to lobby for or against the standard.
D
You might also like to view...
Ronald, Ross, and Carol opened a partnership firm. Ronald has a capital of $77,000; Ross has a capital of $119,000; and Carol has a capital of $91,000. Ronald decided to withdraw from the partnership and received $86,000. Which of the following will be included in the journal entry to record this? (Assume an equal profit-loss sharing between the existing partners.)
A) Cash is credited for $9000. B) Ross, Capital is credited for $4500. C) Carol, Capital is debited for $4500. D) Ross, Capital is debited for $9000.
Of the six dimensions of the culturally endorsed leadership theory, which one of these focuses on the leaders capacity to inspire and motivate others?
a. Charismatic/Value-based b. Team-Oriented c. Participative d. Autonomous
Communicating product benefits to consumers is very important in the introduction stage.
Answer the following statement true (T) or false (F)
A "fundamental change" in a corporation would be illustrated by? A)?E-prise electing new members to the board
B)?E-prise, Inc. merging with Vitta Corporation. C)?Vitta Corporation adding a new product to its product line. D)?Vitta Corporation setting the date for its annual meeting.