Pink Boutique Company and Purple Kiosk Company decide to consolidate. This corporate combination does not require the approval of
A. Pink and Purple's directors.
B. Pink and Purple's officers.
C. Pink's shareholders.
D. Purple's shareholders.
Answer: B
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A clothing store has opened a credit account in which Judy, a college student, gets Alice, her older sister, to agree to pay the amount owed on the account if Judy fails to do so. Which of the following statements is true of this scenario?
A. Alice is the guarantor, and Alice's contract must be in writing to be enforceable. B. Alice is the guarantor, and she is primarily liable to make the payments. C. Judy is the obligor, and she is contractually liable to the guarantor. D. Judy is the obligor, and she is secondarily liable to the clothing store.
Which of the following is the least important in helping the auditor develop an independent expectation of interest expense as a substantive analytical procedure?
a. Determine average interest rates. b. Determine average debt outstanding. c. Examine disaggregated data by type of debt. d. Examine an interest revenue schedule.
Which of the following is an important guideline for the writing of real-life ethical dilemmas by workshop participants?
a. Limit dilemmas to those occurred at the current company. b. The scenario should be first-person. c. There should be no more than five possible solutions/responses. d. They should total one page or less in length.
A common complaint of managers and supervisors about performance management is
a. "It's not fair." b. "I don't have the training I need." c. "I don't have time." d. "It's not my job."