________________a formal process in which top executives regularly review all managers at or above a certain hierarchical level, looking at both performance and potential, and devise developmental plans for their most promising individuals

If market value of an impaired asset recovers after an impairment has been recognized, the impairment may be reversed in a subsequent period.

a. true b. false

The corporate veil is most likely to be pierced and the shareholders held personally liable if

A. The corporation has elected S corporation status under the Internal Revenue Code. B. The shareholders have commingled their personal funds with those of the corporation. C. An ultra vires act has been committed. D. A partnership incorporates its business solely to limit the liability of its partners.