In a REA diagram each economic event is always
a. linked to at least two resource entities
b. linked to two external agents
c. linked to another economic event
d. linked to two internal agents
C
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The percentage analysis of increases and decreases in individual items in comparative financial statements is called
a. vertical analysis b. solvency analysis c. profitability analysis d. horizontal analysis
Shares in the Federal Reserve Banks are owned by
A. the federal government of the United States. B. banks that are members of the Federal Reserve System. C. the governments of the states in which they are located. D. private citizens who own stock in them.
Management philosophy and operating style most likely would have a significant influence on an entity's control environment when:
A. accurate management job descriptions delineate specific duties. B. the audit committee actively oversees the financial reporting process. C. internal audit personnel have direct access to the board of directors and the entity's management. D. the entity does not have sound personnel policies for hiring, training, and evaluating competent individuals.
The firm's _______ refers to the time it takes to complete a development cycle
a. speed-to-market b. market strategy c. learning d. efficiency