Qualitative information is relevant when:
A. it makes a difference in the decision only.
B. it makes a difference in the decision and it differs between the alternatives.
C. it differs between the alternatives only.
D. None of the above.
Answer: B
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Which of the following would not be a user of financial statements?
a. Management b. Bankers c. Employee unions d. Investment analysts e. All of the answers are users.
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Indicate whether the statement is true or false
Fundamental changes to a corporation:
A) fall within the authority of the board of directors. B) include the sale of substantially all of the corporation's assets in the regular course of business. C) need to be approved by shareholders, by a majority of the shares present at a meeting at which a quorum is present, under the 1999 amendments to the Revised Act. D) require unanimous shareholder approval.
Which statement best defines “strategic philanthropy?”
a. The donor is interested in how the gift will benefit him or her. b. The donor is interested in what results will be accomplished with the gift. c. The donor spreads his or her gifts round to many different organizations. d. The gift is made on the death of the donor. e. The term only applies to foundation giving.