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While auditing the financial statements of Forble Corp. (which are to be included in a Securities Act registration statement), Ernie, a certified public accountant, fails to review any of Forble's journal entries, does not read the details of meetings of the board of directors, and does not even speak with the comptroller of Forble.
Consequently, Ernie does not discover that substantial loans, which went unmentioned in the financial statements, had been made to Forble officers. As a result, the registration statement omits any mention of the loans.
Assuming the omitted fact is a material one and that Ernie is not an officer or director of Forble, does Ernie face potential liability under Section 11 of the Securities Act of 1933?
Discuss the reasons for your answer.
Assuming that Kabana manufactures, on average, 1,300 stereo systems per month, enter each cost item on your answer sheet, placing the dollar amount per month under the appropriate headings. Total the dollar amounts in each of the columns. Compute ..
The types of technology use during your internship and what you have learned about technology in the accounting profession from your experience.
Complete a ratio analysis for that company's last year's financial data. At a minimum, list and discuss the company performance vs. its industry average for these 4 ratios:
Prepare journal entry to record the issuance of the bonds and the related bond issue costs incurred January 1, 2009 Prepare a bond ammortization schedule up to and including January 1, 2013 usinf effective interest method
The maximum amount by which this commercial banking system can expand the supply of money by lending is? 2. If there is a deposit of $20 billion of new currency into checking accounts in the banking system , excess reserves will increase by?
What are the differences in reporting guidance in a for-profit and not-for-profit organization? What are the similarities in reporting guidance in a for-profit and not-for-profit organization? How do these differences and similarities affect the c..
Nov. 15 Issued 380,000 of its common shares in exchange for equipment forwhich the cash price was known to be $3,688,000.
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on january 1 tellier corporation had 62100 shares of no-par common stock issued and outstanding. the stock has a stated
If instructors work an average of 20 hours per week for 16 weeks for each three-credit class of 75 students, what is the labor productivity ratio?
the following data is given for the harry company budget production 26000 units actcual production 27000
one potential of financing corporations through the use of bonds rather than common stock isa the interest on bonds
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