When two or more countries agree to eliminate customs duties and other trade barriers among themselves, they form:
a. a free trade area.
b. a customs union.
c. a common market.
d. an economic community.
a
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If the expected deviation rate exceeds the tolerable deviation rate, the auditor is most likely to:
A. set control risk at the minimum without sampling. B. set control risk at the maximum without sampling. C. have a large sample size. D. pick a lower risk of assessing control risk too low to increase sample size.
Profitability is the ability of the firm to generate earnings
Indicate whether the statement is true or false
Using the indirect method, if equipment is sold at a gain, the
A) sale proceeds received are deducted in the operating activities section. B) sale proceeds received are added in the operating activities section. C) amount of the gain is added in the operating activities section. D) amount of the gain is deducted in the operating activities section.
Which of the following would lead to the termination of an agency by operation of law?
A) the loss or destruction of the subject matter of the agency B) the death of either the principal or agent C) the loss of a required qualification D) a change in the law