Which of the following would likely cause a change in market opportunities based upon levels of income and wealth?
A) economic change
B) sociological and demographic change
C) technological change
D) political change
E) legal change
A
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Based on a study and evaluation completed at an interim date, the auditor concludes that no significant internal control weaknesses exist. The records and procedures would most likely be tested again at year-end if:
A. the auditor used nonstatistical sampling during interim compliance testing. B. compliance tests were not performed by the internal audit staff during the remaining period. C. inquiries and observations lead the auditor to believe that conditions within the internal control system have changed. D. the internal control system provides a basis for reliance in reducing the extent of substantive procedures.
When a retailer reduces your credit limit because of an anticipated charge, this is known as
A) credit blocking. B) a chargeback. C) a refund credit. D) a graduated payment.
Shoe Sunshine, Inc filed for bankruptcy protection under Chapter 11 and submitted a plan of reorganization within 120 days after filing for relief. Two of the classes of creditors voted against the plan. However, the bankruptcy judge considered the plan to be reasonable, achievable, and fair, and approved it in spite of these creditors' objections. This action by the judge is called a "cramdown."
a. True b. False Indicate whether the statement is true or false
Assuming Rule 504 of Regulation D otherwise applies, it exempts offerings of up to __________ within a __________ period, and there may be __________ purchasers
a. $2 million; six-month; up to 100 b. $500,000; two-year; up to 500 c. $1 million; twelve-month; an unlimited number of d. $100,000; three-month; up to 50