Which of the following guidelines is not a presentation that pro forma financial information should adhere to?
a. It should describe the transaction or event that is reflected in the pro forma financial information.
b. It should describe significant assumptions used to develop the pro format adjustments.
c. It should make clear that the pro forma financial information is indicative of results that would have been achieved had the transaction or event actually taken place at an earlier time.
d. It should describe any significant uncertainties about those assumptions.
c
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David Ricardo's simplified trade model is based on all of these assumptions EXCEPT
a. costs do not vary with the level of production. b. the level of technology is fixed for all nations. c. capital is the only factor of production. d. perfect competition prevails in all markets.
[APPENDIX] Deferred income taxes arise because
a. corporations often make errors in their tax estimations. b. companies can use accounting methods that minimize net income for tax purposes and other methods that maximize net income for reporting to shareholders. c. the IRS owes a company a refund from last year. d. large corporations generally have operations in foreign countries whose tax law is quite different from U.S. tax law.
In the payroll subsystem, which function should distribute paychecks?
a. personnel b. timekeeping c. paymaster d. payroll
Which of the following statements is true of the International Court of Justice?
A) It is the executive branch of the United Nations (UN) that helps interpret international law. B) It only hears cases of nations, and not of individuals and businesses. C) It does not have the authority to hear cases involving treaties and the UN Charter. D) It is headed by the secretary-general of the United Nations.