The Financial Accounting Standards Board (FASB) has recently voted to eliminate (i) accounting for mergers, and henceforth will allow only the (ii)
(i) (ii)
a. purchase method pool of interest
b. amalgamation consolidation
c. pooling of interest purchase method
d. consolidation amalgamation
C
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Explain why ethics are an integral part of accounting.
What will be an ideal response?
How does the text define “strategic philanthropy”?
a. the partnering of a company and the government to coordinate philanthropic giving so that it has the biggest impact in a specific geographic region b. the planning on the part of a company so that giving does not damage the company’s resources over the long term c. the partnering of a company and nonprofit organization to achieve a communal good that also benefits the company. d. philanthropic giving by a company that contributes directly to the company’s value or profit
The shadow banking system describes a group of institutions that engage in lending activities, much like traditional banks
Indicate whether the statement is true or false
Clark goes to the First Bank to obtain a consumer loan. The bank requests that the Rich Credit Reporting Agency furnish a credit report, which they do. Based upon the report, which says that Clark has been convicted of theft and credit card fraud, the
bank denies Clark's application. Is Clark entitled to know what was in the report? If Clark thinks the information in the report is inaccurate, what can he do?