In Tenants Corp. v. Max Rothenberg, the auditors were held legally liable for:
A. Deficient tax work
B. Write-up work
C. Gross negligence
D. Ordinary negligence
Answer: B
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Instead of a single merchandise inventory account, the manufacturer has three inventory accounts
Indicate whether the statement is true or false
The Securities Exchange Act of 1934 is a one-time disclosure law.
Answer the following statement true (T) or false (F)
A company was organized in January 2016 and has 20,000 shares of $10 par value, 10%, nonparticipating preferred stock outstanding and 150,000 shares of $2 par value common stock outstanding. It has declared and paid cash dividends each year as shown below. Calculate the total dividends distributed to each class of stockholder under each of the assumptions given. ??Assuming PreferredAssuming Preferred??StockStock?CashIs NoncumulativeIs Cumulative?Dividends?????DeclaredPreferredCommonPreferredCommonYearand PaidDividendDividendDividendDividend??????2016$18,000________________________________2017$36,000________________________________2018$60,000________________________________??????
What will be an ideal response?
Which of the following is TRUE about the threat of substitutes?
A) When threatened by substitutes, existing competitors will increase their prices. B) innovation makes an existing product or service more attractive to its customers. C) If there are numerous substitutes, the firm's profit margins and revenues will decline. D) If the competitors are strong, existing competitors will not react strongly to the threat of substitutes.