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1. Which of the following is not one of the functions of the Securities and Exchange Commission? a. Providing government-backed insurance to purchasers of securities. b. Bringing enforcement actions against suspected violators of securities laws. c. Regulating securities brokers and advisors. d. Investigating securities violations. e. Adopting rules to further the functions of the securities laws.
2. Which of the following is not an advantage of franchising? a.Consumers are assured of uniform product quality. b. The franchisor gets major tax advantages. c. The franchisee has access to the franchisor's knowledge and resources. d. The franchisor can reach new markets.
3. Under the National Pollutant Discharge Elimination System: a. old permits to discharge pollutants into water are being phased out. b. permits to discharge pollutants into water can be bought, sold, or traded. c. permits are granted by the EPA to discharge pollutants in water. d. no new permits are granted to discharge pollutants into water.
4. Based on duration, all LLCs can be classified as either: a. short-term or long-term. b. determined-length or undetermined-length. c. fixed-length or variable-length. d. term or at-will. e. self-determined or statute-determined.
5. Administrative agencies are often informally referred to as: a. Courts of no resort. b. The Mini Congress. c. The constitutional aberration. d. The fourth branch government. e. The rule-mongers.
For each of the following items, indicate whether it would be classified and reported under the operating activities (OA), investing activities (IA), or financing activities (FA) section of a statement of cash flows:
Using the general rule calculates Martin's taxable income for 2011 from the retirement plan and distributions
Wynn, Inc. has contract to construct a large hotel for $12,000,000. The contract was signed on the month January 2, 2010 and it was expected that the hotel would be complete on the month of December 31, 2013. Under these situations, what amount of ..
Blocker, Inc. had $10,000 of notes coming due on January 10, 2011- how much of the $10,000 note should be shown as current?
Making decision for discontinue production of subassemblies and purchase from an outside supplier.
Please describe the accounting treatment when a company purchases less than 20% of another company's stock. Please describe how revenue and dividends are treated when the equity method is used.
Prepare the adjusting entry (if any) for 2007, assuming the securities are classified as trading. Prepare the adjusting entry (if any) for 2007, assuming the securities are classified as available for-sale.
Make journal entries to record the issuance of 100,000 shares of common stock at $20 per share for each of the following independent cases
BUACC2606 Financial Accounting, Discuss the above quotation, particularly as it applies to non-current assets. Do you consider Chamber's assertion is justified?
Ohio Corp. reported a deferred tax liability of $6,000,000 for the year ended December 31, 2012, when the tax rate was 40%. Income tax expense reported by Ohio on its year end December 31, 2013 income statement is:
Evaluate taxable income and income taxes payable. Prepare the journal entries for income tax expense, income taxes payable, and deferred taxes.
Compute the equivalent units of production for the first department for April, assuming the company uses the weighted-average method of accounting for units and costs.
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