What are the implications of the North American Free Trade Agreement (NAFTA) treaty?
What will be an ideal response?
The North American Free Trade Agreement (NAFTA) has eliminated or reduced most of the duties, tariffs, quotas, and other trade barriers among Mexico, the United States, and Canada. Agriculture, automobiles, computers, electronics, energy and petrochemicals, financial services, insurance, telecommunications, and many other industries are affected. The treaty allows a country to reimpose tariffs if an import surge from one of the other nations hurts its economy or workers. Like other regional trading agreements, NAFTA allows the bloc to discriminate against outsiders and to cut deals among its members. NAFTA also includes special protection for favored industries that have a lot of lobby muscle. Thus, many economists assert that NAFTA is not a "free trade" pact but a managed trade agreement. Critics contend that NAFTA shifted U.S. jobs, particularly blue-collar jobs, south of the border, where Mexican wage rates are about one-tenth of those in the United States. Environmentalists criticize the pact for not doing enough to prevent and clean up pollution in Mexico.
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Which of the following is not true about auditing stockholders' equity transactions?
a. The auditor usually uses a substantive approach. b. The number of equity transactions with outside parties is usually small. c. The dollar amount is usually immaterial. d. An approach using only tests of details is most commonly used to audit equity accounts.
Compare and contrast search quality, experience quality, and credence quality. Describe their significance for the marketing of services.
What will be an ideal response?
A donor agrees to contribute $5,000 per year at the end of each of the next five years to a voluntary health and welfare organization. The donor did not place any use restrictions on the amount pledged. The stream of the payments is discounted at 6 percent. The first payment of $5,000 is received at the end of the first year. The present value factor for a five-payment annuity due on June 30, 20X9, at 6 percent is 4.2124. The present value factor for a four-payment annuity due on June 30, 20X9, at 6 percent is 3.4651.Based on the preceding information, the increase in present value of the contributions receivable recognized at the end of the first year equals:
A. $4,212. B. $787. C. $1,264. D. $5,000.
Match the term and the definition. There are more definitions than terms.
A. B. Net Income C. D. Accrual Basis E. Expense F. Revenue Recognition Principle G. Deferred Revenue H. Time Period Assumption I. J. K.