Reduction of processing variability would be associated with which of the Five-S’s?
a. Sort
b. Sweep
c. Self-discipline
d. Standardize
d. Standardize
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Which of the following is not a benefit of emerging audit technologies?
A. The potential to dramatically enhance the effectiveness and the value of the external audit. B. Remove the challenge of junior auditor work and make that work less interesting. C. Automate much of the more tedious work that auditors perform. D. Leave more time for auditors to better understand the businesses they are auditing the underlying risks related to financial reporting.
How has the North American Free Trade Agreement affected U.S. unions?
A) Mexican organizations have increased wages so that U.S. firms no longer have a cost advantage while moving low-skill jobs to Mexico. B) Mexico has moved several manufacturing industries to the United States, thus providing employment opportunities to unionized workers. C) U.S. firms with unionized workforces have moved low-skill jobs to Mexico, thus reducing union membership. D) Low tariffs and restrictions have allowed U.S. firms to sell more products to Mexico, thus increasing employment for union members.
In a highly regulated, monopolistic industry, such as the electrical utilities, a cost management system (CMS) is
a. of no use because there is no attempt to control costs. b. of little value because costs are passed along to the customers. c. essential because of the need to provide the highest degree of cost efficiency possible in order to benefit the customers. d. critical to the needs of managers which make decisions at various levels within the organizational hierarchy.
The part of a security's risk associated with economic factors that affect all firms to some extent is known as the _____.
A. diversifiable risk B. unsystematic risk C. stand-alone risk D. market risk E. business risk