(I) A share of common stock in a firm represents an ownership interest in that firm
(II) A share of preferred stock is as much like a bond as it is like common stock.
A) (I) is true, (II) false.
B) (I) is false, (II) true.
C) Both are true.
D) Both are false.
C
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The 80 percent rule is met if a company has hired:
A. at least 10 percent of black applicants if it has hired 20 percent of all white applicants. B. at least 10 percent of white applicants if it has hired 20 percent of all black applicants. C. minorities at the rate of at least 80 percent of the rate at which it hires from the demographic group. D. minorities at the rate of at least 20 percent of the rate at which it hires from the demographic group.
When obtaining reasonable assurance that the financial statements are free from material misstatements, auditors should consider the applicable legal and regulatory frameworks that apply to the entity
a. True b. False Indicate whether the statement is true or false