Proxy statements are:a. filed by an entity that acquires beneficial ownership of more than 5percent in a company.b. interim financial statements need not be audited.c. materials submitted to shareholders for votes on corporate matters.d. used to disclose unscheduled material events.

Explanation: Proxy statements are documents that publicly traded companies send to shareholders in…

Answered: Proxy statements are: a. filed by an…

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter17: Corporations: Introduction And Operating Rules

Section: Chapter Questions

Problem 12DQ

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When a client company does not maintain its own capital stock records, the auditors should obtain written confirmation from the transfer agent and registrar concerninga. Restrictions on the payment of dividends.b. The number of shares issued and outstanding.c. Guarantees of preferred stock liquidation value.d. The number of shares subject to agreements to repurchase.
Which of the following is a valid assumption from an accounting perspective? O A company that has declared bankruptcy is referred to as a going concern. O Financial statements should be prepared on a calendar-year basis. O Financial statements are prepared for a specific entity that is distinct from the entity's owners. O The results of customer satisfaction surveys should be reported in the financial statements because such results could impact decisions of financial statement users.
Statement 1: The primary responsibility for the preparation and presentation of the financial statements of an entity is reposed in the management of the entity. Statement 2: An entity can rectify inappropriate accounting policies either by disclosure of the accounting policies used or by notes or explanatory information Both statements are true. Both statements are false. Only statement 1 is true. Only statement 2 is true.
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Statement I: In retained earnings, the auditor should ensure whether it has been properly declared in accordance with the requirements of the Revised Corporation Code of the Philippines. Statement II: Shareholders’ Equity is the residual interest of owners in the net assets of a corporation measured by the excess of liabilities over asset. a. Statement I and II are trueb. Statement I and II are falsec. Statement I is true, Statement II is falsed. Statement I is false, Statement II is true
Which of the following is not true of a registration statement? A . It helps the SEC make judgments about the worth of securities. B. It contains financial statements certified by independent public accountants. C. It provides information about the management of the company. D. It is different for different types of companies that offer securities for sale.
Occasionally, public accounting firms are engaged to report on specified elements, accounts, and items of financial statements. a. Discuss types of reports that may be provided for a nonpublic company for specified elements, accounts, and items of financial statements. b. Why should reports on the application of agreed-upon procedures to information be restricted to specified users?
When a public shareholding company changes an accounting policy voluntarily, it has to (a) Inform shareholders prior to taking the decision. (b) Account for it retrospectively. (c) Treat the effect of the change as an extraordinary item. (d) Treat it prospectively and adjust the effect of the change in the current period and future periods.
Orange Server Management Inc is a publicly traded company. The CFO of the company has responsibility to the user of the financial statement that the financial statement should not miss or omitted any information that could mislead the readers. This represents that the financial statements are A Going concern B) Free of material misstatement Complete D Faithfully represent
The statement of shareholders' equity reports the effects from the recognition or valuation of certain asset or liability transactions that change Accumulated Other Comprehensive Income. True False
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The measurment princple requires that..?

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Proxy statements are: a. filed by an entity that acquires beneficial ownership of more than 5 percent in a company. b. interim financial statements need not be audited. c. materials submitted to shareholders for votes on corporate matters. d. used to disclose unscheduled material events.