QUESTION 27 The FASB is: a. Part of the Federal Reserve System dealing with short-term interest rates b. Part of the Securities & Exchange Commission c. A committee of Congressional members to establish all commercial laws d. A seven member board appointed by the Financial Accounting Foundation QUESTION 28 Financial markets are efficientit: a. All corporations are audited annually b. Security analysts can beat the market consistently c. Stock prices always go up d. Information is impounded immediately in price and in an unbiased fashion QUESTION 29 In the market model Rm is: a. A random walk b. A risk-free rate of return c. A term representing bounded rationality d. The rate of return of the market QUESTION 30 Comprehensive income would be found in which financial statement? a. Statement of Stockholders Equity b. Income Statement c. Cash Flow Statement d. Balance Sheet