An investment company that sell shares to individuals and then invests the proceeds in stocks or bonds is called a

A) current liability.
B) mutual fund.
C) stocks.
D) bonds.


Answer: B

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Cash receipts and cash payments are classified as operating, investing, or financing activities on the statement of cash flows.

Answer the following statement true (T) or false (F)

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If a company hires honest employees, no internal control procedures are necessary

a. True b. False Indicate whether the statement is true or false

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Which two organizations are working together to harmonize financial reporting worldwide?

a. FASB and IASB b. GAAP and FASB c. SEC and FASB d. EU and SEC

Business

Sales opportunities in the United States expanded most notably during which of the following time periods?

A) the Revolutionary War B) the years immediately following the Revolutionary War C) World War I D) the Great Depression E) the 1930s

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