Which of the following statements is true in the context of the Great Recession?
a. The economy completely recovered from the Great Recession in 2009.
b. The Great Recession spread to the globe by 2008.
c. The middle class was the least affected by the Great Recession.
d. The Great Recession increased employment rates to almost ten percent.
ANSWER: b
By 2008, the recession had spread around the globe. A very slow economic recovery began in July 2009 and continues to this day.
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Listed below are six of the seven assertions about classes of transactions and events made in the purchasing process. For each, give an example of how an auditor could use one of the typical documents in the purchasing process to test the assertion.OccurrenceCompletenessAuthorizationAccuracyCutoffClassification
What will be an ideal response?
Michaela and Carolyn are discussing changes to the benefits program at their organization. Michaela would like to see the organization provide more lifestyle benefits such a dog day care. Carolyn is pushing for more dental and disability coverage. What aspect of providing a benefits program are Michaela and Carolyn discussing?
A. amount B. mix C. flexibility D. vesting
A country's ________ ________ often provides the most reliable picture of its purchasing power.
Fill in the blank(s) with the appropriate word(s).
Financial breakeven analysis determines the operating income at which the _____ is equal to zero.?
A. ?earnings before interest and tax (EBIT) B. ?degree of operating leverage C. ?earnings per share D. ?degree of financial leverage (DFL) E. ?gross profit