The essence of Modigliani and Miller's irrelevance theory is that
A) increasing operating leverage will maximize EPS.
B) shareholders prefer to invest in firms with a high degree of financial leverage.
C) altering a firm's capital structure will increase its value.
D) utilizing more debt will increase a firm's value.
E) the value of the firm will not be changed by how assets are distributed between bondholders and stockholders.
E
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The documentation skills that accountants require vary with their job function. However, they should at lease be able to do which of the following?
a. read documentation to determine how the system works b. critique and correct documentation that others prepare c. prepare documentation for a newly developed information system d. teach others how to prepare documentation
Barter is primarily used with trading partners who are not creditworthy or trustworthy
Indicate whether the statement is true or false.