Which One of the Following Is a Notification to a Futures

question 36

Multiple Choice

Which one of the following is a notification to a futures contract holder that additional margin funds are needed?

• A)marking to market
• B)deposit call
• C)shortage notice
• D)margin call
• E)marking call

Identify the conditions under which accountants can be held liable to third parties and understand the scope of accountant-client privilege.

Describe the elements of and remedies for breach of contract in the context of accounting services.

Understand the implications of the Sarbanes-Oxley Act on the accounting profession and regulatory compliance.

Recognize the circumstances under which accountants may face civil or criminal liability for securities laws violations.

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Definitions:

Cash Receipts

The collection of cash during a specific period, often recorded in financial accounting to track the inflow of cash.

Financing Activity

Transactions that result in changes in the size and composition of the equity capital or borrowings of a company.

Operating Activity

Transactions and events related to the primary operations of a business, such as selling products or services.

Revenue Activity

Activities undertaken by a business that result in the earning of income, typically from the sale of goods or provision of services.