Control Objectives for Information and related Technology (CobIT) provides managers, auditors, and IT users with a set of generally accepted measurements, processes, indicators, and best practices to assist them in maximizing the benefits derived through the use of information technology.
Answer the following statement true (T) or false (F)
True
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Craig Corporation issued a $100,000, 10-year, 1 . percent bond on January 1 . 2013 . for $112,000 . Craig uses the straight-line method of amortization. On April 1 . 2016, Craig reacquired the bonds for retirement when they were selling at 102 on the open market. How much gain or loss should Craig recognize on the retirement of the bonds?
a. $2,000 loss b. $3,900 gain c. $6,100 gain d. $8,200 loss
In order to stimulate its local textile economy and promote the production of cotton, something that has traditionally been imported, a country decides to charge the importing agency a certain percentage of the value of the item being imported
By doing this, the government seeks to make such imported products more expensive and thus unattractive. This is an example of a(n) ________. A) export control system B) quota C) tariff D) expropriation system
Which of the following statements is true if a bond is issued at an amount less than its face value?
A) The bond's stated rate is lower than the prevailing market rate at the time of sale. B) The bond's stated rate is the same as the prevailing market rate at the time of sale. C) The bond's stated rate is higher than the prevailing market rate at the time of sale. D) The bond is not secured by specific assets of the issuer.
If an investor can obtain more of a foreign currency for a dollar in the forward market than in the spot market, then the forward currency is said to be selling at a discount to the spot rate.
Answer the following statement true (T) or false (F)