A person making less than the cutoff rate for Social Security pays 6.2% of his income in Social

Security taxes.

Indicate whether the statement is true or false


TRUE

Business

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Which of the following is not an audit challenge relevant to fair value estimation of Level 1, 2, and 3 assets?

a. Determining identical assets and active markets. b. Assessing client methodology and cash flows to originally estimate value. c. Determining appropriate model and inputs expected cash flows. d. Determining similar assets and relevant markets.

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Which of the following is an example of a finite population in a queuing system?

A. Taxpayers calling for assistance from the IRS B. People waiting to place their order at a fast-food restaurant C. Patients seeking help in a hospital emergency room D. The departmental faculty in line at the copier E. People waiting in line at an ATM

Business

Which retail assortment strategy is used by a traditional department store?

a. wide and deep b. narrow and shallow c. wide and shallow d. narrow and deep

Business

Your uncle would like to restrict his interest rate risk and his default risk, but he would still like to invest in corporate bonds. Which of the possible bonds listed below best satisfies your uncle's criteria??

A. ?An AAA bond with 10 years to maturity. B. ?A BBB perpetual bond. C. ?A BBB bond with 10 years to maturity. D. ?A AAA bond with 5 years to maturity. E. ?A BBB bond with 5 years to maturity.

Business