Which of the following is a legal principle of international law under which nations submit their decision-making authority to a common organization or institution?
a. Private international law
b. Supranational law
c. The international naturalized agreement
d. The foreign resolution principle
b
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If a U.S. company purchases goods from a British supplier for a fixed number of U.S. dollars, an exchange gain or loss would not arise for the U.S. company, even if the exchange rate has changed between the time of purchase and the time of payment
Indicate whether the statement is true or false
Which of the following is NOT characteristic of Casey’s (1995) concept of ‘designer’ culture?
a. The promotion of individual values of dedication, loyalty, self-sacrifice and passion b. Customers are not only end users but also employees and key stakeholders c. Language centers around the concepts of teams and family d. The culture is displayed only to those inside it, and is not visible to those outside it
Knowing or asking the right people is usually the best way to accomplish tasks in an organization. ____________________
Answer the following statement true (T) or false (F)
A dual-purpose test
A. Simultaneously tests debits and credits. B. Is a procedure completed by both the internal and external auditors. C. Is useful to both the entity and the auditor. D. Is both a substantive test of transactions and a test of controls.