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- An investor prepares a single set of financial statements which encompasses the financial results for both it and its investee because: a. The investor has a controlling interest in its investee. b. The investor has a passive interest in its investee. c. The investor has an influential interest in its investee. d. The investor has an active interest in its its investee.Explain the term “agency relationships” and discuss the conflicts that might exist in the relationship between’i) Shareholder and managersii) Shareholders and creditorsWhat steps may be taken to overcome these conflicts?Common stockholders represent: Group of answer choices a Residual interest over the entity b No interest over the entity c Creditor interest over the entity d Mutual interest over the entity
- Which of the following may provide evidence of significant influence even if the percentage of ownership interest is less than 20\% ? Representation on the board of directors or equivalent governing body of the investee Participation in policy-making processesincluding participation in decisions about dividends or other distributions transactions between the investor and the investee IV Interchange of managenal personnel V. Provision of essential technical information.Which of the following is an example of a principal and an agent respectively Oa Shareholder, Manager b. Manager, owner Ⓒc Company, bondholder Od Shareholder, consumeWhich is an incorrect statement below? A. The name of the parent and the ultimate parent of the group shall be disclosed as part of other disclosures.B. All accounting policies must be disclosed by the entity.C. Related parties have the ability to control the other party.D. Significant influence is the power to participate in the financial and operating policy decision of an entity, but not control of those policies.
- What is the common agency problem faced by shareholders? Describe TWO (2)situations in which stockholders can ensure that management’s and stockholders’interests are aligned?. It is a type of business combination wherein an investor, having an existing involvement in the investee, acquires additional investment in order to obtain control over the investee. a. Business combination achieved by contract alone b. Business combination achieved by mere exchanges of equity interests c. Business combination achieved in stages d. Baby step combination1.Which of the following situations could be evidence that the investor lacks the capacity to exercise significant influence over the company in which he invested? Select one: a. The investor fails to obtain representation on the board of directors of the other company. b. The investor fails to obtain from the other company the information necessary to correctly account for the investment. c. The other company objects to the investor having significant influence and has gone to court or a regulatory agency. d. All the alternatives presented.
- A partner is to a partnership like a(n) ______________ is to a corporation a. Officer b. Director c. Shareholder d. ManagerA would be an example of a principal, while a would be an example ofan agent a. Shareholder; manager b. Manager; owner c. Accountant; bondholder d. Shareholder; bondholderWhich partners in a business have limited risk only to their investment? a. General partners b. Limited partners c. Active partners d. International partners