题目内容

Utility Corporation uses the LIFO inventory method, but most of the other companies in Utilitys industry use FIFO. Which of the following best describes one of the adjustments that would be made to Ut

A. Decrease by the ending balance in Utilitys LIFO reserve.
B. Increase by the ending balance in Utilitys LIFO reserve.
C. Increase by the change in Utilitys LIFO reserve for that period.

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Several years ago, Simon Ma, CFA, founded an investment club with three friends. The investment clubs account grew rapidly to a substantial size, but the club has not actively traded the account for a

A. Yes,with respect to fiduciary duty.
B. Yes,with respect to selective disclosure.
C. Yes,with respect to conflicts of interest.

Jordan Loney, CFA, issues a "sell" recommendation on Sullivan Company because she suspects accounting fraud. Loney writes, "Sullivan has an unstable and complex organizational structure

A. Opportunity.
B. Incentives and pressures.
C. Attitudes and rationalizations.

If a securities market is efficient, it is most likely that:

A. Security prices would react only to the “unexpected” elements of information.
B. Investors would prefer active investment strategies to passive investment strategies.
C. The time frame for price adjustment allows many traders to earn profits with little risk.

With respect to the four major measurement scales (ratio, ordinal, interval, and nominal) the scale that represents the weakest level of measurement is the:

A. Nominal scale
B. Ordinal scale
C. Interval scale

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