QUESTION 15 To pass a new pronouncement, the FASB requires: a. A majority vote of the FASB b. A super-majority of 5 votes after extensive due process c. Extensive due process and a majority vote of the Financial Accounting Foundation d. A majority vote by Congress QUESTION 16 A8 > 2 means: a. A security is high risk and stock price is expected to move more than twice as fast as the overall market b. A low risk security c. Above prime rate interest rates are expected d. Evidence of market inefficiency QUESTION 17 If the Chief Financial Officer of a corporation les on the 10-K to increase cash bonuses for managers, this is an example of: a. Market efficiency b. Opportunism c. Random Walk d. Bounded Rationality QUESTION 18 What is an Exposure Draft issued by the Financial Accounting Standards Board (FASB)? a. The current stock price and stock chart for the last year for the FASB securities b. The proposed solution to a specific accounting issue before an actual pronouncement is issued c. The set of financial statements issued by the FASB d. Defines the problem, scope of the project, & alternative solutions