Which statement best describes the 1934 Act's position on whistleblowing?
A. Auditors who suspect that a client has committed an illegal act must notify the client's board of directors.
B. Whistleblowers receive no protection under the Act and must decide for themselves if disclosure is worthwhile.
C. If a client's board is notified of potential wrongdoing and does nothing, the auditor need do nothing more.
D. Auditors are advised to avoid direct contact with the SEC regarding potential client wrongdoing.
Answer: A
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Which of the following best describes the Restatement of the Law of Contracts?
A) A summary of the constitutional provisions affecting contract law B) The supreme legal authority for contract law C) A compilation of contract law that is not itself contract law, but is often referred to by judges D) A law that has been adopted, at least in part, by every state
Ludwig is a tenant of a commercial building. Contrary to the lease agreement, Ludwig has been storing hazardous chemicals in the building
On one occasion the chemicals ignited and started a small fire as a result of which the fire department had to be called. A report of the incident and the cause of the fire was sent to the landlord Colby Enterprises. Two weeks after Colby received the Fire Department's incident report, Ludwig paid his monthly rent to Colby and received a receipt for the payment. After discussion with its insurers, Colby served a notice on Ludwig to remedy the breach of the lease agreement. Ludwig failed to do it by the time allowed. With respect to the actions available to Colby at this stage, which of the following statements is TRUE? A) Colby can increase Ludwig's rent as a penalty for his non-compliance B) Colby can evict Ludwig from the premises C) Colby can remove the hazardous chemical from the building itself and charge Ludwig for the cost of doing so. D) A and C
According to research by Nielsen, 42 percent of 18- to 34-year-olds expect customer support within 24 hours of posting a question or complaint.
Answer the following statement true (T) or false (F)
________ are required at the end of the accounting period because certain internal transactions and events remain unrecorded.
Fill in the blank(s) with the appropriate word(s).