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NEW QUESTION: 1
An accountant is taking on financial accounting responsibilities for company PQ. Which TWO of the following are NOT true of financial accounting?
A. It's purpose is to provide information for internal use
B. It's purpose is to provide financial information to an external source
C. Performed without adherence to standard accounting rules
D. Performed in accordance with legal requirements
Answer: A,C
NEW QUESTION: 2
Derek Bonney, CFA, is writing an investment policy statement for one of his high net worth clients, Joey Rook. Rook is a retiree who receives Social Security benefits but because he was self-employed, has no pension income. Rook's social security benefits cover all but $1,000 of his monthly living expenses. He has a portfolio of SI.2 million, an effective tax rate of 30%, and recently purchased a vacation cabin with mortgage and maintenance expenses of $6,000 per month. After meeting with his client, Bonney writes the following policy statement: "The total return objective is to earn 7% after-tax. At no time should the principal amount decline in value by more than 15%." The most valid criticism of this return objective statement is that:
A. it considers only the after-tax return.
B. the return objective is too conservative.
C. it fails to consider Rook's current income needs.
Answer: C
NEW QUESTION: 3
Ann, a user, reports there is a power outage and she is unable to access the Internet or the company network. Which of the following would MOST likely cause this issue?
A. Device battery is low
B. Certificate expiration
C. WiFi is unavailable
D. VPN failure
Answer: C
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