1. A Shell Corporation: part 1 A. Has assets and liabilities. B. Has no Charter to operate. C. Cannot be interlocked. D. Can be pyramided. E. Is a ready-made, already existing Corporation. 2. An accountant who conducts an audit of an issuer of securities to which Section 10A(a) of the Securities Exchange Act of 1934, (15 U.S.C. 78j-1(a)), applies, shall maintain all audit or review work papers for A period of: A. Five years from the beginning of the fiscal period in which the audit or review was concluded. B. Five years from the end of the fiscal period in which the audit or review was concluded. C. No more than four years from the beginning of the fiscal period in which the audit or review was concluded. D. At least six years. E. None of the above. 3. Breach of contract action by P against D. P claims D failed to deliver the goods called for in the contract. D asserts the doctrine of impossibility, based on the claim that severe storms caused flooding which destroyed all the goods in Dâ€™s warehouse. To prove impossibility, D offers in evidence what appears to be a newspaper published in the town in which Dâ€™s business is located, and which is dated a few days before D was supposed to ship Pâ€™s order. An article in the paper reports the loss of all the goods in Dâ€™s warehouse due to storm-related flooding. P objects on grounds of lack of authentication. How should the court rule? A. The court should overrule the objection B. The court should sustain the objection because the newspaper is not the best evidence of whether flooding caused the destruction of the goods in Dâ€™s warehouse. C. The court should sustain the objection if it finds that there is insufficient evidence to support a finding that this is the newspaper D claims it to be. D. The court should sustain the objection if it finds that D has failed to show by a preponderance of the evidence that this is the newspaper D claims it to be. E. None of the above. 4. Sam, a house painter, was charged with stealing three valuable figurines from the home of Johnson while painting the interior of that home. At Samâ€™s trial, Johnson testified that he first noticed that the figurines were missing about an hour after Sam left his home. He stated that he looked Samâ€™s number up in the telephone book and properly dialed the number listed therein. Over objection by Samâ€™s attorney, Johnson stated that a man answered the phone by saying, â€œSam speaking.â€ Johnson stated that he then said, â€œSam, where are the figurines?â€ and that the person at the other end of the line said, â€œ Iâ€™m sorry. I took them.â€ The objection by Samâ€™s attorney should be: A. Overruled B. Sustained, since Johnson did not actually see the person to whom he was speaking. C. Sustained since the statement is hearsay. D Sustained, unless independent evidence establishes that Sam was the person to whom Johnson was speaking. E. None of the above 5. Breach of contract action by P against D. P claims the contract, which was reduced to writing, called for D to deliver 200 crates of apples by a certain date. At trial, D wishes to testify that the contract only called for delivery of 100 crates. P makes a best evidence rule objection How should the Court rule? A. None of the answers below B. The court should overrule the objection because a contract is an agreement brought about by the meeting of two minds, not a writing. The writing is only a memorandum of the agreement, not the contract itself. C. The court should overrule the objection because D is not testifying about the contents of the writing, but about her understanding of the agreement. Thus the best evidence rule does not apply. D. The court should overrule the objection because the central issue in the case concerns the terms of the agreement, and the jury is entitled to hear Dâ€™s interpretation of the terms. E.