Which of the Following Is True Regarding the Claim of ABC

question 26

Multiple Choice

Which of the following is true regarding the claim of ABC Co.that the agency had no power to compel attendance and the production of documents?

• A) ABC Co. is correct because while the agency had the right to request voluntary compliance and refer ABC Co. to law enforcement if ABC Co. would not voluntarily comply, the agency had no power to require compliance.
• B) ABC Co. is correct in that the agency could not require the production of documents, but incorrect regarding the power of the agency to require attendance at a hearing.
• C) ABC Co. is correct in that the agency could not require attendance at a hearing, but incorrect regarding the power of the agency to require the provision of documents.
• D) ABC Co. is incorrect and the agency had the power to issue a document called a subpoena requiring attendance at a hearing and a document called a subpoena duces tecum requiring that ABC Co. bring specified documents to the hearing.
• E) ABC Co. is incorrect and the agency had the power to issue a document called a certified order requiring attendance at a hearing and a document called a summons requiring that ABC Co. bring specified documents to the hearing.

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Definitions:

Realized Gain

The profit earned from the sale of an asset, which has been converted from an unrealized gain into cash or an equivalent.

Available-For-Sale

A classification for securities that are not held to maturity or for trading purposes, with unrealized gains or losses reported in equity.

Carrying Value

The stated value of an asset on a company's balance sheet, minus accumulated depreciation or amortization.