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Paraphin [41]
3 years ago
14

An investment adviser has placed an order with the underwriter for 250,000 shares of XYZ stock, a new company that will be liste

d on NASDAQ. The adviser will allocate this purchase to its largest discretionary accounts. This action is a(n):
Business
1 answer:
frutty [35]3 years ago
6 0

Complete Question:

An investment adviser has placed an order with the underwriter for 250,000 shares of XYZ stock, a new company that will be listed on NASDAQ. The adviser will allocate this purchase to its largest discretionary accounts. This action is a(n):

Group of answer choices

A. breach of fiduciary duty

B. front-running violation

C. fair and reasonable practice

D. insider trading violation

Answer:

breach of fiduciary duty.

Explanation:

In this scenario, an investment adviser has placed an order with the underwriter for 250,000 shares of XYZ stock, a new company that will be listed on NASDAQ. The adviser will allocate this purchase to its largest discretionary accounts. This action is a breach of fiduciary duty.

According to the Securities and Exchange Commission (SEC), if a registered investment adviser favours a client over another while allocating a block, it simply means that the registered investment adviser has violated his or her fiduciary duty to the other customers who were denied a piece of the block.

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Two or more items are omitted in each of the following tabulations of income statement data. Fill in the amounts that are missin
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Income Statements

                                                             2013                2014             2015

Sales revenue                                $294,170      $360,920        $414,180

Sales returns and allowances            11,200            13,470         20,740

Net sales                                         282,970         347,350      393,440  

Beginning inventory                          21,590          33,560          42,010

Purchases                                       245,240       263,090       298,600

Purchase returns and allowances     (5,180)          (8,330)        (10,440)

Freight-in                                             8,140            9,480           12,440

Total cost of goods available        269,790       297,800         342,610

Ending inventory                             33,560           42,010          47,870

Cost of goods sold                       236,230        255,790       294,740

Gross profit on sales                      46,740           91,560          98,700

Explanation:

a) Data and Calculations:

                                                             2013                2014             2015

Sales revenue                                $294,170           $                  $414,180

Sales returns and allowances            11,200            13,470  

Net sales                                                                 347,350  

Beginning inventory                          21,590           33,560  

Ending inventory  

Purchases                                                             263,090       298,600

Purchase returns and allowances     5,180             8,330           10,440

Freight-in                                            8,140             9,480            12,440

Cost of goods sold                       236,230                                294,740

Gross profit on sales                      46,740           91,560           98,700

Beginning inventory                          21,590          33,560          42,010

Purchases                                       245,240       263,090       298,600

Purchase returns and allowances     (5,180)          (8,330)        (10,440)

Freight-in                                             8,140            9,480           12,440

Total cost of goods available        269,790       297,800         342,610

Ending inventory                             33,560           42,010           47,870

Cost of goods sold                       236,230        255,790       294,740

3 0
3 years ago
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