Internal control over cash receipts is weakened when an employee who receives customer mail receipts also:
A) maintains a petty cash fund.
B) records credits to individual accounts receivable.
C) prepares bank deposit slips for all mail receipts.
D) prepares initial cash receipts records.
Answer: B) records credits to individual accounts receivable.
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Which of the following does not describe a characteristic of short-term economic fluctuations?
A. Expansions and recessions are irregular in length and severity. B. Durable-goods industries are less sensitive to short-term fluctuations than service and non-durable industries. C. Expansions and recessions are felt throughout the economy. D. The unemployment rate rises during recessions.
A forecaster used the regression equationQt = a + bt + c1D1 + c2D2 + c3D3and quarterly sales data for 1996 I - 2013 IV (t = 1, ..., 64) for an appliance manufacturer to obtain the results shown below. Q is quarterly sales, and D1, D2 and D3 are dummy variables for quarters I, II, and III.
At the 5 percent level of significance, is there a statistically significant trend in sales?
A. Yes, because 2.14 > 2.00. B. No, because 1.5 < 2.00. C. No, because 2.14 < 2.66. D. No, because 1.5 < 2.66. E. none of the above
Any change that causes a decrease in the demand for labor at a given wage rate will be represented by a(n) ________, assuming all else equal
A) rightward shift in the labor demand curve B) downward movement along the labor demand curve C) upward movement along the labor demand curve D) leftward shift in the labor demand curve
Which of the following statements is true?
A) Maximum social surplus implies equity. B) Pareto efficiency implies equity. C) Taxation causes redistribution of wealth among the members in a society. D) Market prices act as signals that result in equal distribution of income and wealth in the society.