Cotton Products Corporation is a public company whose shares are traded in the public securities markets. With respect to financial and other significant information concerning its securities, the Securities Act of 1933
a. imposes increased responsibility on chief corporate executives.
b. prevents insiders from trading among themselves.
c. requires disclosure.
d. creates a "safe harbor" for companies to make forward-looking statements.
C
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A reason for valuing inventory at net realizable value is that sometimes it is too difficult to obtain the cost figures.
a. true b. false
A buyer submits a contract to purchase contingent on the buyer's spouse approving the property within 48 hours. Which of the following statements is correct concerning this agreement?
A. The contract would be valid if agreed to by both parties. B. Real estate contracts cannot contain contingencies. C. The contingency is not valid as it requires a personal judgement. D. The contingency would have to be made on a separate amendment agreement.