Acpa issued an unqualified opinion on the financial statements of a company that sold common stock in a public offering subject to the securities act of 1933. based on a misstatement in the financial statements, the cpa is being sued by an investor who purchased shares of this public offering. which of the following represents a viable defense?
answer

the misstatement is immaterial in the overall context of the financial statements.

the cpa detected the misstatement after the audit report date.

the investor has not proven cpa negligence.

the investor did not rely upon the financial statement.

Resources that are valuable but not rare can be categorized asanswers: organizational weaknesses.distinctive competencies.organizational strengths.complementary resources and capabilities.

9. tax types: taxes are classified based on whether they are applied directly to income, called direct taxes, or to some other measurable performance characteristic of the firm, called indirect taxes. identify each of the following as a “direct tax,” an “indirect tax,” or something else: a. corporate income tax paid by a japanese subsidiary on its operating income b. royalties paid to saudi arabia for oil extracted and shipped to world markets c. interest received by a u.s. parent on bank deposits held in london d. interest received by a u.s. parent on a loan to a subsidiary in mexico e. principal repayment received by u.s. parent from belgium on a loan to a wholly owned subsidiary in belgium f. excise tax paid on cigarettes manufactured and sold within the united states g. property taxes paid on the corporate headquarters building in seattle h. a direct contribution to the international committee of the red cross for refugee relief i. deferred income tax, shown as a deduction on the u.s. parent’s consolidated income tax j. withholding taxes withheld by germany on dividends paid to a united kingdom parent corporation

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