While auditing my client‚ I found that the price the company has been paying for their widgets doubled in a year’s time. In addition‚ they are now being purchased entirely from a new vendor. After I check the fair market price for these widgets‚ however‚ it appears that they are only worth half of what the company is paying. This is one of the red flags for fraud. As an auditor it is my job to ensure to the best of my ability that the financial statements are not materially misstated due to fraud
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GDP Calculation (expenditure approach) Consumption(C): –The spending by households on goods and services‚ with the exception of purchases of new housing. •Investment (I): –The spending on capital equipment‚ inventories and structures‚ including household purchases of new housing. •Government purchases (G): –The spending on goods and services by local‚ state and federal governments. –Does notinclude transfer payments because they are not made in exchange for currently produced goods
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and Government-set Prices A. Short-Answer‚ Essays‚ and Problems New 1. The president of a toy company asks you for advice about whether the company should cut the price of its best-selling doll this year based on the following information: last year the company cut the price of its best-selling doll by 10% and the total revenues from doll sales increased by 10%. New 2. The owner of a health club asks you for advice about whether the company should raise the price of its membership
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The price elasticity of demand (PED) is “a measure of how much the quantity demanded of a good responds to a change in price of the good” (Mankiw 2007‚ p.90). It is a form of measure to determine how willing consumers are to move away from the good as the price of the good rises. Most of the time‚ there are factors that determines the PED‚ such as availability of close substitutes‚ necessities versus luxuries‚ definition of the market and time horizon. In order to calculate the PED‚ a formula is
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stores in USA market because of economic clash. It also mentioned that the raising of strong competition of MCD‚ who provide much cheaper price of coffee. The heavy pricing completion from competitor and slowing economic drives Starbucks’ market fluctuation. Moreover‚ the article also stated that since financial crisis‚ it has result Starbucks’s market stock price dropped 50% of its value in 2008‚ which is not a positive sign of a company. Nevertheless‚ it does have better performance in some Asian
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Price Elasticity of Supply * Price Elasticity of Supply: * The degree of price elasticity of supply depends on how easily - and therefore quickly - producers can shift resources between alternative uses. Unlike PED‚ there is no Total Revenue Test for Price Elasticity of Supply. * Because there is a direct relationship between Price & Total revenue‚ they always move together. DETERMINANT OF PRICE ELASTICITY OF SUPPLY: TIME! THREE PERIODS: Market period--> short run --> long
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using a low-price strategy. If a buyer raises a price-based objection‚ what would you say to convince him that your price is appropriate? Price objections are one of the biggest obstacles salespeople have to conquer. There are two important points to keep in mind concerning price resistance. First‚ it is one of the most common buyer concerns in the field of selling. A salesperson must learn to negotiate skillfully in this area. Secondly‚ price objections may be nothing than an excuse. Price can be a
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ever heard of the catch phrase‚ “What does that have to do with the price of tea in China”. Most people probably are familiar with that phrase as a way of telling a person that the point they are making doesn’t have much to do with the main topic of the discussion. Some think the phrase originated from economists who “describe everything economic as affecting everything else.” This week’s discussion topic may not be about the price of tea in China but instead may I lead in my response to this week’s
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Any time one decides to learn something new‚ or make some sort of positive change‚ there is going to be some work or effort involved‚ a price to pay. Just know that the price is worth it. Imagine being able to achieve anything you want! Imagine being able to have anything you want‚ be anything you want‚ do anything you want. You really can‚ if you know how. So when you think about a goal‚ something you want to achieve or accomplish‚ your mind might naturally go to what you don’t want or what you’re
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minutes 30 50 minutes 10 15 minutes Weightage by content Unit No 1 2 3 4 6 7 8 9 10 3. 6 6 10 10 Mark Unit Sub-Units Introduction Consumer Equilibrium and Demand Producer Behaviour and Supply Forms of Market and Price determination National income and related aggregates Money and Banking Determination of Income and employment Government Budget and the economy Balance of Payment Total Marks 4 18 18 10 15 8 12 8 7 100 Difficulty level of the
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