When testing a standard cost system, the auditor does not normally make which of the following inquiries?
a. The method for developing standard costs.
b. The method for identifying components of overhead and of allocating overhead to products.
c. The method for identifying sales cutoff.
d. The method used for allocating variances to inventory and cost of goods sold.
c
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If a Citibank dealer expects the Swiss franc to appreciate against the U.S. dollar, then she will attempt to lower both bid and offer rates for the franc to persuade other dealers to buy francs from Citibank and dissuade other dealers from selling francs to Citibank.
a. True b. False
Which of the following statements is FALSE?
a. International trade restrictions limit specialization and the division of labor. b. International trade restrictions reduce the volume of trade and the gains from trade. c. International trade restrictions cause nations to produce inside their production possibilities frontier. d. International trade restrictions result in a country producing some of the product of its comparative disadvantage.
Conclusive research is based on the assumption that the researcher has an accurate understanding of the problem at hand
Indicate whether the statement is true or false
Salespeople need not increase sales in old accounts if they are generating a sufficient number of new customers.
Answer the following statement true (T) or false (F)