When an investment pool is created, the assets of each fund entering the pool should be transferred to the pool at their fair value at the date of the transfer.
Answer the following statement true (T) or false (F)
True
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If not challenged by the U.S. attorney general within ________ days, a bank merger is still subject to liability under Section 2 of the Sherman Act if it is shown to have resulted in a monopoly
A) 15 B) 30 C) 60 D) 90
Mere promotion of a security makes a person a seller and, therefore, liable under section 5 of the 1933 Act based upon the sale of a security without an effective registration statement or by means of a noncomplying prospectus
a. True b. False Indicate whether the statement is true or false
A financial guarantee ensures that the lender (bond purchaser) will be paid both principal and interest in the event the issuer defaults
Indicate whether the statement is true or false
Feemster Corporation manufactures and sells a single product. The company uses units as the measure of activity in its budgets and performance reports. During October, the company budgeted for 5,900 units, but its actual level of activity was 5,850 units. The company has provided the following data concerning the formulas used in its budgeting and its actual results for October:Data used in budgeting: Fixed element per monthVariable element per unitRevenue - $29.90 Direct labor$0 $5.60Direct materials 0 8.60Manufacturing overhead 37,000 1.30Selling and administrative expenses 27,200 0.80Total expenses$64,200 $16.30?Actual results for October: Revenue$176,095Direct labor$31,510Direct materials$49,800Manufacturing overhead$45,775Selling and administrative
expenses$31,670?The activity variance for selling and administrative expenses in October would be closest to: A. $40 F B. $250 U C. $250 F D. $40 U