Which of the following is not a role of the bankruptcy trustee?
A. Turn the assets into cash.
B. Provide debt counseling.
C. Void certain transfers.
D. Collect the debtor's assets.
Answer: B
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A balance sheet shows the
A) fair value of a company at a particular date. B) results of the company's income-producing activities. C) financial position of a company at a particular date. D) cash inflows and outflows of a company for the accounting period.
Which of the following activities would be the least practical for a fraud examiner?
a. gaining an understanding of the tools and methods perpetrators use in e-business fraud b. gaining a working knowledge of computer networking systems c. learning the strengths and weaknesses of Windows d. getting to know each company employee's interactions with the systems
Which characteristic of goal setting theory states that in general, employees who participate with their managers with setting goals will have higher levels of performance and be more motivated to achieve the objectives.
a. Specific goals b. Difficult goals c. Goal acceptance and commitment d. Feedback
Krishna and Ravi operate a sari store as a partnership. They agree privately that they will not order supplies over $10,000 without both signatures. When Krishna is on vacation, Ravi orders $20,000 worth of silk
Krishna objects to paying the supplier and wants to return the shipment. The supplier sues the partnership. Which of the following is true? A) the partnership must pay the supplier because private restrictions don't affect outsiders to the partnership B) the partnership must pay because it owes a fiduciary duty to the supplier C) the partnership does not have to pay because Ravi exceeded her authority D) the partnership does not have to pay because Ravi exceeded her apparent authority. E) the supplier has to take back the shipment since there were not two signatures on the contract