The vice president of a corporation:
A. has charge of the funds of the corporation.
B. cannot be leading any specific department of the company.
C. cannot have implied authority.
D. has no authority by virtue of that office.
Answer: D
You might also like to view...
Which of the following procedures do third-party users of the audit report not expect the auditor to perform?
a. Evaluate measurements and disclosures made by management. b. Provide a biased evaluation of the financial statements. c. Determine whether financial statements are presented in accordance with GAAP. d. Gather sufficient appropriate evidence to support their opinion.
The going concern assumption does not influence the classification of assets and liabilities
Indicate whether the statement is true or false
A syndicated research report is an example of a secondary data source
Indicate whether the statement is true or false
Which one of the following statements is not part of the incomplete revelation hypothesis (IRH)?
a. Some accounting numbers or relationships may not be fully revealed in security prices. b. Footnote disclosure is all that is needed for information to fully impact security prices. c. Some individuals’ trading habits do not respond in a rational way to new information. d. Some individuals respond to information is such a way as to impede the market from acting in a fully efficient manner.