Which of the following is true of the board of directors in a public stock company?
A. Because shareholders generally have uniform interests, the composition of the board is generally a unanimous decision.
B. The functions of the board of directors are limited to ensuring the hiring and firing of CEOs.
C. Votes at shareholder meetings determine whose representatives are appointed to the board of directors.
D. The board of directors acts as a facilitator to convey interests of the stockholders to the management without any real authority.
Answer: C
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Cash that is legally or contractually required to be set aside for a specific purpose cannot be reported with Cash and Cash Equivalents on the balance sheet.
Answer the following statement true (T) or false (F)
Which statement is false regarding the government-wide Statement of Net Position?
A. Discretely presented component units are grouped and shown on the right of the total. B. Investments are reported at fair value rather than historical cost. C. Assets are reported excluding capital assets. D. Capital assets are reported net of depreciation. E. Noncurrent liabilities are presented separately from current liabilities.
Monitoring the performance of a database after providing solutions for improving itsperformance is an activity of the DBMS pertaining to ________
A) creation B) modification C) processing D) administration
Refer to the T-account below: Work In ProcessBal.30,000(12)270,000(4)90,000 (6)70,000 (9)110,000 Bal.30,000 Entry (12) could represent which of the following?
A. The cost of indirect materials incurred in production. B. Direct labor cost incurred in production. C. The cost of goods manufactured transferred to Finished Goods. D. Purchases of raw materials.