If a company has internal auditors, it does not need to have external auditors
a. True
b. False
Indicate whether the statement is true or false
False
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During the 2008 financial crisis, the dollar ________ in nominal terms.
A. appreciated sharply B. appreciated slightly C. depreciated slightly D. depreciated sharply
During periods of rising prices, when the FIFO inventory cost flow method is used, a perpetual inventory system would
a. not be permitted. b. result in a higher ending inventory than a periodic inventory system. c. result in the same ending inventory as a periodic inventory system. d. result in a lower ending inventory than a periodic inventory system.
A corporation formed in another country but doing business in the United States is referred to in the United States as an alien corporation
a. True b. False Indicate whether the statement is true or false
ABC company has two bonds outstanding that are the same except for the maturity date. Bond D matures in 4 years, while Bond E matures in 7 years. If the required return changes by 5 percent, then ________
A) bond D will have a greater change in price B) bond E will have a greater change in price C) the price of the bonds will be constant D) the percentage price change for the bonds will be equal