An increase in marginal tax rates would likely have the effect of ________ the demand for municipal bonds and ________ the demand for U.S. government bonds
A) increasing; increasing
B) increasing; decreasing
C) decreasing; increasing
D) decreasing; decreasing
B
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Which of the following assumptions does not belong in a list of characteristics of lean production?
A) labor is more costly than machines B) set up time can be reduced C) minimize inventory to cut costs and wastage D) maximize backwards integration E) inspection to prevent defective production
Test counts are performed by the auditor to give the impression of control and they are not used for substantive testing
a. True b. False Indicate whether the statement is true or false
Which of the following is the least important in helping the auditor develop an independent expectation of interest expense as a substantive analytical procedure?
a. Determine average interest rates. b. Determine average debt outstanding. c. Examine disaggregated data by type of debt. d. Examine an interest revenue schedule.
Brandies, Inc. reported net income of $5.6 million. At the beginning of the year, 6.8 million shares of common stock were outstanding and at the end of the year, 7.2 million shares were outstanding. No dividends were declared. The EPS is approximately:
A. $0.80. B. $0.70. C. $0.78. D. $0.83.