Ultimately, it will be the responsibility of the FASB in the U.S. to decide if the advantages of IFRS's outweigh the disadvantages

The Modigliani and Miller hypothesis suggests that capital structure doesn't matter. All of the

following conditions need to be met for this hypothesis to be true EXCEPT A) all corporate net income is paid out as dividends. B) corporate income is not subject to taxation. C) capital structure consists only of stocks and bonds. D) securities are traded in perfect or efficient markets.

Which of the following is most likely an important characteristic for the Canadian intermediaries used by Mary's Mosaics?

A) quality of sales force and experience with target customers B) ability to secure intellectual property rights and patents C) willingness to make connections with government agencies D) reputation for simultaneously handling competing clients