The International Accounting Standards Board was formed to
a. enforce FASB standards in foreign countries.
b. develop worldwide accepted accounting standards.
c. establish accounting standards for U.S. multinational companies.
d. develop accounting standards for countries that do not have their own standard-setting bodies.
B
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Which of the following is most likely to be found in state laws regarding payment of dividends?
a. Dividends may be paid from legal capital. b. Retained earnings are available for dividends unless restricted by contract or by statute. c. Unrealized capital is available for any type of dividend. d. Capital from donated assets is available for dividends.
Horizontal analysis is also known as:
A. Variance analysis. B. Liquidity analysis. C. Trend analysis. D. Revenue analysis.
Any ambiguity in a contract is interpreted against the party who drafted the contract
Indicate whether the statement is true or false
Public-key encryption was developed in the late ________
A. 1950s B. 1970s C. 1960s D. 1980s