The Securities Investor Protection Corporation protects individuals from
A. fraud by corporations.
B. making poor investment decisions.
C. other investors who fail to make delivery.
D. brokerage firm failures.
Answer: D
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Which one of the following statements is false regarding the gross profit ratio?
a. The gross profit ratio is a measure of profitability. b. The gross profit ratio is calculated by dividing net sales by gross profit. c. The gross profit ratio can help investors decide whether or not to buy a company's stock. d. The gross profit ratio should be compared with both a company's prior years' ratios and also competitor ratios.
Ending inventory is equal to the cost of items on hand plus
a. merchandise in transit sold to customers FOB shipping point. b. merchandise in transit sold to customers FOB destination. c. the cost of all inventory purchased during the period. d. merchandise purchased in transit with terms FOB destination.
On June 30, 2018, Chris Brothers, Inc. showed the following data on the equity section of their balance sheet:
On July 1, 2018, the company declared and distributed a 8% stock dividend. The market value of the stock at that time was $17 per share. Following this transaction, what is the balance of Paid-In Capital in Excess of Par—Common?
A) $227,640
B) $523,160
C) $271,000
D) $457,880
A breach of the duty of care by a partner does not constitute negligence
Indicate whether the statement is true or false