Which of the following is NOT true about the Securities and Exchange Commission:
a. the agency is charged with the responsibility for the enforcement and administration of the federal securities laws
b. the agency is bi-partisan
c. the agency is not independent
d. the agency has five members appointed by the President for five-year terms e. all the other choices are true of the Securities and Exchange Commission
c
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Indicate whether the statement is true or false
Indicate how each event affects the elements of financial statements. Use the following letters to record your answer in the box shown below each element. You do not need to enter amounts. Assume that Frank Company uses a perpetual inventory system.Increase = I Decrease = D No Effect = NA(Note that "No Effect" means that the event does not effect that element of the financial statements or that the event causes an increase in that element that is offset by a decrease in that same element.) Wetzel Company granted a $70 allowance to a customer who was not totally satisfied with the quality of goods received. The customer did not return the goods and had not yet paid for them.AssetsLiabilitiesStk. EquityRevenuesExpensesNet IncomeStmt of Cash Flows???????
What will be an ideal response?
Erin and Dooley, a married couple, borrow $120,000 from Capital & Credit Bank to buy a home. When Erin and Dooley divorce, they are unable to make payments on the mortgage. The market value of the home has declined to less than the balance of the loan. Capital & Credit agrees to a sale of the property for this amount. This is
A. a deed in lieu of foreclosure. B. a home equity loan. C. a reverse mortgage. D. a short sale.
Major accomplishments, major breakthroughs, emergencies, or catastrophes typically warrant a(n)
A. focus group survey. B. exclusive interview. C. internal accounting process. D. national press conference. E. community involvement program.