To raise capital to form Business Apps Corporation with Cris, Dona sells bonds and stock in other companies, and plans to register an initial public of-fer¬ing under the Securities Act of 1933. SEC Rule l0b-5 covers
a. just about any form of securities.
b. only bonds.
c. only securities registered under the Securities Act of 1933.
d. only stock.
A
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Accountants define the market value of inventory as its ______________________________
Fill in the blank(s) with correct word
Answer the following statements true (T) or false (F)
1.Consider Figure 5.5. The Japanese export quota's revenue effect totals $1,200. 2.Consider Figure 5.5. The government of Mexico collects 50 percent of the export quota's revenue effect, or $600, in the form of tax revenue. 3.Consider Figure 5.5. Assuming that the revenue effect of the export quota accrues to Japanese firms, the overall welfare loss to Mexico equals $2,100 as a result of the quota. 4.Excessive sea transport and freight regulations are examples of nontariff trade barriers. 5.For the United States, corporate average fuel economy standards (CAFÉ) provide a minimum limit on the number of gallons of gas that an automobile can consume per mile driven.
While the prices that consumers pay are often inflexible, a significant number of final prices paid in business-to-business transactions are negotiated
Indicate whether the statement is true or false
Due to a weakness observed in internal control over recording retirements of equipment, the auditor may decide to
A. Inspect certain items of equipment in the plant and trace those items to the accounting records. B. Review the subsidiary ledger to ascertain whether depreciation was taken on each item of equipment during the year. C. Trace additions to the "other assets" account to search for equipment that is still on hand but no longer is being used. D. Select certain items of equipment from the accounting records and locate them in the plant.