Which of the following is true regarding corporate stock?
a. The concept of par value was designed to protect directors.
b. The term "outstanding" may be used for stock that has been sold.
c. After incorporation additional shares of stock may not be authorized.
d. Owners of common stock have preference on dividends.
b
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A procedure that would most likely be used by an auditor in performing tests of control activities that involve segregation of functions but which leave no transaction trail is:
A. Reperformance. B. Reconciliation. C. Observation. D. Inspection.
Shrinkage is the inventory loss due to employee theft, shoplifting, mistakes, inaccurate records, and vendor errors.
Answer the following statement true (T) or false (F)
When variables are perfectly associated, the phi coefficient assumes the value of 1
Indicate whether the statement is true or false
In portfolio analysis, we often use ex post (historical) returns and standard deviations, despite the fact that we are really interested in ex ante (future) data.
Answer the following statement true (T) or false (F)