U.S. GAAP and IFRS have converged with respect to the treatment of:
A. Valuation of inventories.
B. Interest received on held-to-maturity securities
C. Unrealized gains on available-for-sale securities.
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John Maginn, an investment researcher, who is a CFA charterholder, takes a trip for which his firm will pay all the expenses. Upon his return he alters some of the numbers on restaurant receipts to in
A. No,because the expense inflated is under $100.
B. No,if such behavior is not significant.
C. Yes,because it is a crime of moral turpitude.
An expansionary fiscal policy is most likely to include a （n）:
A. Increase in government expenditures and a decrease in tax rates.
B. Decrease in both government expenditures and tax rates.
C. Increase in both government expenditures and tax rates.
Compared to a normal distribution, a lognormal distribution is least likely to be:
A. Skewed to the right.
B. Skewed to the left.
C. Useful in describing the distribution of stock prices.
According to the modern view of the Phillips curve, the actual inflation is 6%, while the expected inflation 5%, the most likely initial effect is that:
A. The natural rate of unemployment will rise.
B. Unemployment will fall below its natural rate.
C. Unemployment will rise above its natural rate.
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