The use of only a portion or percentage of the available outlets in each geographic area for market exposure is called _____ distribution.
A. exclusive
B. intensive
C. selective
D. patterned
E. indirect
Answer: C
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For the following situation, state whether it represents a strength or weakness in internal control and give the reason for your answer
Second National Bank requires mandatory vacations and job rotation. What will be an ideal response
An investor is considering buying one of two 10-year, $1,000 face value, noncallable bonds: Bond A has a 7% annual coupon, while Bond B has a 9% annual coupon. Both bonds have a yield to maturity of 8%, and the YTM is expected to remain constant for the next 10 years. Which of the following statements is CORRECT?
A. Bond B has a higher price than Bond A today, but one year from now the bonds will have the same price. B. One year from now, Bond A's price will be higher than it is today. C. Bond A's current yield is greater than 8%. D. Bond A has a higher price than Bond B today, but one year from now the bonds will have the same price. E. Both bonds have the same price today, and the price of each bond is expected to remain constant until the bonds mature.
The U.S. Constitution gives the federal government the power to impose a tax on income from whatever source derived.
Answer the following statement true (T) or false (F)
Proper monitoring within an internal control framework may include all of the following except
A. An external auditor. B. An effective audit committee. C. An internal audit function. D. The internal revenue service.