HomeClass Notes1,200,000CA670,000

ARBUS102 Lecture : wee ff

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tanchinchilla438

16 Oct 2011

School

University of Waterloo

Department

Arts and Business

Course

Professor

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Document Summary

41 management"s statement of responsibility for financial reporting. 43 consolidated statements of changes in shareholders" equity. Basic and diluted net earnings per common share. The management of loblaw companies limited is responsible for the preparation, presentation and integrity of the accompanying consolidated financial statements, management"s discussion and analysis and all other information in the annual report. This responsibility includes the selection and consistent application of appropriate accounting principles and methods in addition to making the judgments and estimates necessary to prepare the consolidated financial statements in accordance with canadian generally accepted accounting principles. It also includes ensuring that the financial information presented elsewhere in the annual report is consistent with that in the consolidated financial statements. Management is also responsible for establishing and maintaining adequate internal controls over financial reporting to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with canadian gaap.

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Related Questions

Which of the following statements is true of business ethics?

a. Ethical behavior can not only enhance a company's reputation but can also drive profits.

b. Conducting business in an ethical manner does not influence the financial performance of a company.

c. Social responsibility is directed only toward a company's customers and not its employees.

d. Social responsibility in business is less important than satisfying shareholders.

e. Business ethics is not relevant to nonprofit organizations.

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Which of these statements about corporate bonds is correct?

A. Bonds provide equity financing.

B. Issuing new bonds dilutes the existing ownership in the firm.

C. Interest paid to bondholders represents a tax-deductible business expense.

D. Debenture bonds require assets pledged as collateral.

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The term business ethics is best described by the following statement:

a. It is the study and philosophy of human conduct, with an emphasis on determining right and wrong.

b. It is an "inquiry into the nature and grounds of morality where the term morality is taken to mean moral judgments, standards, and rules of conduct."

c. It is the "study of the general nature of morals and of specific moral choices; moral philosophy; and the rules or standards governing the conduct of the members of a profession."

d. It is an organization's obligation to maximize its positive effects and minimize its negative effects on stakeholders.

e. It comprises the principles, values, and standards that guide behavior in the world of business

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