The attempt by a nonmanagement group to gain control of the management of a firm by soliciting a sufficient number of proxy votes is called a ________

Initial public stock offerings provide a way to raise capital through federally registered and underwritten sales of shares in the company.

a. True b. False

The primary reason for an audit by an independent, external audit firm is to

a. Satisfy governmental regulatory requirements b. Guarantee that there are no misstatements in the financial statements and ensure that any fraud will be discovered c. Relieve management of responsibility for the financial statements d. Provide increased assurance to users as to the fairness of the financial statements