Which of the statements below is FALSE? Like a bond, common stock entitles the owner to some of the cash flow of a company. Bond ownership gives the right to participate in the management of the company. For common stock, there is no maturity date and the promised cash flow is not stated on the asset, but is determined at a later date by the board of directors. An equity claim is a claim to all the assets and cash flows of a company once debt claimants have been paid.

Mark knopf is an auditor who has been asked to provide an audit and financial statement certification for a company that is going public on the new york stock exchange. knopf wants to know his personal liability if the company provides him with inaccurate or false information. which of the following sources of law will him answer that question? a. the city ordinances where the company headquarters is located. b. the state constitution of the state where the company is incorporated. c. code of federal regulations. d. all of the above