In relation to its materiality, the audit of cash requires little audit time.
a. true
b. false
Answer: b. false
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Which of the following is most likely to lead to an increase in the value of the dollar?
A) decline in U.S. interest rates B) increase in imports to the United States C) decrease in exports from the United States D) increase in U.S. interest rates compared to foreign interest rates
Public choice theory suggests that political candidates try to get elected by
a. appealing to conservatives b. appealing to liberals c. appealing to senior citizens d. appealing to the median voter e. raising taxes
Historically, Keynesian economists have argued that government spending will stimulate aggregate demand more than tax cuts because
a. government spending will stimulate aggregate demand more quickly than a tax cut. b. there are fewer adverse side effects to an increase in government spending. c. all of the spending will add to aggregate demand, but a portion of the tax cut will be saved. d. an increase in government spending can quickly be reversed once the economy has recovered.
A successful market economy requires well defined property rights and
A) a safety net to ensure that those who cannot participate in the market economy can earn an income.
B) detailed government regulations.
C) balanced supplies of all factors of production.
D) an independent court system to adjudicate disputes based on the law.