Auditors should never count a cash fund with the custodian present because the custodian might be able to influence the count.
a. true
b. false
Answer: b. false
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Among the countries that use the euro, the real exchange rate ________ and the nominal exchange rate ________
A) is fixed; is fixed B) is fixed; can change C) can change; is fixed D) can change; can change
Screening is
a. actions by the informed party to reveal her true risks b. actions by the informed party to conceal her true risks c. actions by the uninformed party to uncover the true risks d. actions by the uninformed party to conceal the true risks
A tax on cigarettes can be expected to reduce teen smoking more than it reduces adult smoking
a. True b. False Indicate whether the statement is true or false
Which of the following statements reflect sound economic reasoning?
A) If domestic production of a good will employ lots of people, the good should be produced domestically. B) Higher tariffs will increase the total volume of international trade. C) Foreign competition will reduce the wealth of Americans. D) If it is more economical to acquire a good through trade than by self-production, it makes sense to trade for it.