David embraced the bedouin work style when he began his consulting business, but now he feels ready for a little permanence and resource support. Which of the following will best meet his needs?
A) angel investor
B) incubator
C) venture capitalist
D) enterprise zone
E) public stock offering
Answer: B
Explanation: B) As a bedouin in the modern business world, David works via laptop and mobile phone in various locations, such as cafes. The next level of permanence and support is an incubator, which provides low-cost office space and basic support services.
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According to the text, the first step in applying materiality to an audit is
A) To determine tolerable misstatement for each account balance. B) To determine a materiality level for the overall financial statements. C) To aggregate the misstatements found in each account and determine their overall affect on the financial statements. D) To ask management what constitutes a material amount in their business.
Stan and Stella had promised to marry each other and signed a written contract stating their intentions. They planned to marry a year from the date of signing the contract
After they signed the contract, Stan proposed to Stella and presented her with an engagement ring. However, two months before the marriage, Stan called off the engagement. Which of the following would be true if the state in which they reside follows the fault rule? A) The ring will remain with Stella. B) The ring will be returned to Stan. C) The ring will be auctioned and the proceeds will be shared between the couple. D) The ring will be owned by whoever marries first after the engagement.