What is meant by the term "piercing the corporate veil"?
a. Corporate directors and/or officers may be held personally liable to a person damaged by an act of the corporation.
b. Corporate shareholders may be held personally liable to a person damaged by an act of the corporation.
c. Both of the above.
d. None of the above.
b
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Indicate which of the following audit procedures, used as tests of controls, do not involve audit sampling.1. Observing and evaluating segregation of duties.2. Testing of whether sales invoices are supported by authorized customer orders and shipping documents.3. Reviewing entity's procedures for accounting for the numerical sequence of shipping documents.4. Examining sales orders for proper credit approval.5. Recomputing the information on copies of sales invoices.6. Comparing the average days outstanding in accounts receivable with industry averages.
What will be an ideal response?
Treasury stock is stock that has been authorized, issued, and is outstanding.
Answer the following statement true (T) or false (F)
The four basic philosophical positions that multinationals can assume and influence a company's training program are:
A. polycentric, geocentric, multicentric, and ultracentric positions. B. ethnocentric, polycentric, regiocentric, and geocentric positions. C. ethnocentric, globalcentric, regiocentric, and unicentric positions. D. multicentric, globalcentric, geocentric, and unicentric positions.
The trade terms "FOB" and "CIF" are defined by which of the following: A) Incoterms
B) Uniform Commercial Code. C) The Revised American Foreign Trade Definitions. D) All of the above.