Which Item Below Is Not True of the New York

question 27

Multiple Choice

Which item below is not true of the New York Stock Exchange?

• A)It is the largest organized exchange in the world.
• B)Companies must meet certain requirements to have their shares listed there.
• C)In addition to stocks,bonds are also traded there.
• D)The Exchange guarantees secrecy after a transaction is completed,all its relevant details are destroyed.

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Definitions:

Commercial Substance

A characteristic of a business transaction where the risk, timing, or amount of future cash flows of the assets or liabilities of the entity will change as a result of the transaction.

Temporary Difference

Refers to differences between the carrying amount of an asset or liability in the balance sheet and its tax base that will result in taxable or deductible amounts in future periods.

Straight Line Depreciation

A method of allocating the cost of a tangible asset over its useful life in equal annual amounts.

Capital Cost Allowance

A tax deduction in Canada for the depreciation of tangible property.