The presence of so many commercial banks in the United States is most likely the result of
A) consumers' strong preference for dealing with only local banks.
B) adverse selection and moral hazard problems that give local banks a competitive advantage over larger banks.
C) regulations that restrict the ability of banks to open branches.
D) all of the above.
C
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The appearance of independence of a CPA, or that CPA's firm, is most likely to be impaired if the CPA
a. provides appraisal, valuation, or actuarial services for an attest client b. Joins a trade association, which is an attest client, and serves in a nonmanagement capacity c. Accepts a token gift from an attest client d. Serves as an executor and trustee of the estate of an individual who owned the majority of the stock of a closely held client corporation
In a decision to drop a segment, the opportunity cost of the space occupied by the segment would be the segment margin that could be derived from the best alternative use of the space
Indicate whether the statement is true or false