A loan in which the interest rate is subject to change based on the economic index is a
A) adjustable rate mortgage (ARM)
B) change rate mortgage (CRM)
C) adjustable type mortgage (ATM)
D) none of these
Answer: A) adjustable rate mortgage (ARM)
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If financial statements are to meet the requirements of adequate disclosure,
a. All information pertaining to the company must be disclosed in the statements or related notes, even though some of the disclosures are potentially detrimental to the company or its shareholders b. All information believed by the auditor to be essential to the fair presentation of the financial statements must be disclosed, no matter how confidential management believes the data to be c. Statement notes should be written in very technical language to avoid misinterpretation by the reader d. A statement note must clearly detail any deficiencies contained in the financial statements themselves
Which of the following is not considered a wage issue in collective bargaining?
a. overtime rates b. fringe or supplemental wage payments c. seniority d. wage differentials