Teresa is suing her accountant for fraud. To win, Teresa must show that she justifiably relied on the accountant's fraudulent statement
a. True
b. False
Indicate whether the statement is true or false
True
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Chipotle engages customers through Facebook, Twitter, and other social media via its grassroots "Food with Integrity" digital strategy, which puts the focus on what it sells and where it comes from. These are examples of ________ media
A) owned B) earned C) paid D) service E) marketing
If the lessee and the lessor use different interest rates to account for a capital lease, then
a. the lease will never be accounted for as a capital lease by the lessee. b. total expenses (or revenues) will be equal for both lessee and lessor. c. total expenses (or revenues) will be different for the lessee and the lessor. d. GAAP has been violated since the lessor and the lessee are not allowed to use different interest rates in accounting for capital leases.
In U.S. GAAP, which of the following accurately describe(s) the effects of transactions involving investments on the statement of cash flows?
a. When using the fair value method for trading securities and fair value hedges, both realized and unrealized gains and losses appear in net income. b. Dividends received from investee included in investor's cash flow from operations. c. When using the indirect method, add back realized holding losses, and subtract realized holding gains included in income for the period to derive cash flow from operations. d. All proceeds of sale of trading securities appear as [dis-]investing source of cash. e. all of the above
The Check Clearing in the 21st Century Act (Check 21 ) applies only in about 75 percent of the states
Indicate whether the statement is true or false