Question
All of the following are an example of a fiduciary relationship EXCEPT
Multiple Choice
-
a bank employee manages deposits.
-
a financial advisor advises her clients.
-
a CEO manages the firm.
-
the shareholder elects a board member.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution
Trending nowThis is a popular solution!
Step by stepSolved in 3 steps
Knowledge Booster
Similar questions
- 24arrow_forwardSuppose you are one of the senior employees in Master Bank. Mr Khalid Recently joined as a junior employee in your bank. The management given an additional responsibility to you. So, you have to explain the secondary objectives of bank to Mr Khalid. As a senior employee, which of the following will you consider as secondary objectives of the bank? a.Accepting deposits from public and lending loans to needy people b.Issuing cheques and demand drafts c.Accepting deposits from public and issuing cheques d.Lending loans to needy people and demand draftarrow_forwardNote:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.arrow_forward
- Which of the following steps can help a business avoid embezzlement? Group of answer choices Use independent auditors. Investigate promptly any employee whose lifestyle suddenly changes. Require co-signing of checks. All of the above.arrow_forwardAssume that an amazing job is offered to you by a campus to collect funds for the SZABIST’s sports program and you accepted that offer. You are now told to draft a fundraising letter. If you want to raise as much money as possible, would it be better if the text of that section mentioned that your business school is ranked among the best leading university in the nation in sports or that you are better than 99 percent of other businessschools at sports? Explain this behavior?arrow_forwardDiscussion of the anticipated contribution of the business model of netflixarrow_forward
- State the objective of the audit of financial statements. In generalterms, how do auditors meet that objective?arrow_forwardRule 10b-5 of the Securities Exchange Act of 1934 does which of the following? Multiple Choice O O It requires that a firm's private offerings may not exceed $5 million. It regulates the issuance of securities. It prohibits fraud associated with the purchase or sale of all securities. It requires that any issuer of securities must file a prospectus with the SEC. Total points awarded Help Exiarrow_forwardIn which of these situations would an estoppel certificate be used? Stacy is purchasing a new build and wants to ensure it meets building code. Steve is behind on his mortgage payments and the lender is going to foreclose. Scott is assuming a loan and the title company needs to verify a loan balance. Serafina is paying cash to put in a pool.arrow_forward
- Management in today’s corporate world has developed a habit of acting on their own interest rather than maximizing the interest or wealth of the shareholders. This has made the need for Independent Audit greater in Today’s Society than it was in 50 years ago. Mr. Ama Yaw, an investor, in his opinion sees “Auditor as an Insurer or a Guarantor of the correctness of the financial statements” because they rely only on audited Financial Statements in making investment decisions. Required: Comment on the Opinion of Mr. Ama Yawarrow_forwardA cattle producer purchased an insurance contract form the USDA Risk Management Agency. The contract pays a fixed dollar amount if and only if the rainfall in the 10 by 10 miles grid surrounding the producer’s land falls below 90 percent of the historical average rainfall. According to the lecture, this is a type of _____ insurance A cattle producer purchased an insurance contract form the USDA Risk Management Agency. The contract pays a fixed dollar amount if and only if the rainfall in the 10 by 10 miles grid surrounding the producer’s land falls below 90 percent of the historical average rainfall. According to the lecture, this is a type of _____ insurance weather pure parametric aggregate loss index parametric indexarrow_forwardBoards need to consist of at least 3 independent directors or 1/3 of the board which is higher.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios