The FTC Is

question 247

Multiple Choice

The FTC is

• A) the act that prevents producers from driving out smaller competitors by means of selected discriminatory price cuts.
• B) the commission that investigates unfair competitive practices such as misleading advertising.
• C) an agency which has been set up to regulate the federal government.
• D) the agency set up to regulate hospitals.

---

Definitions:

Dividends

Payments made by a corporation to its shareholder members, usually derived from the company's profits.

AASB 101

An accounting standard issued by the Australian Accounting Standards Board that prescribes the basis for presentation of general purpose financial statements.

Statement of Changes

A financial statement that shows how the equity of a company has changed over a certain period due to various reasons like profits, losses, or distributions.

Deferred Tax Liability

A tax obligation due in the future for income that has been recognized in the financial statements before it is taxable by tax authorities.