1. Which of the following would most likely cause equilibrium quantity and price of x to rise? (a) a fall in income when the income elasticity of demand for x is positive Wrong. This will cause a drop in demand and thus a fall in quantity. (b) a fall in the price of complementary product y Correct. A fall in a complementary product will cause a rise in demand for that product “y” and thus a rise in demand of product “x” (see graph). (c) a fall in the price of substitute product Z Wrong
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------------------------------------------------- Chapter 5—Job Order Costing MULTIPLE CHOICE 1. Which of the following organizations would be most likely to use a job-order costing system? a. | the loan department of a bank | b. | the check clearing department of a bank | c. | a manufacturer of processed cheese food | d. | a manufacturer of video cassette tapes | ANS: A PTS: 1 DIF: Moderate OBJ: 5-1 NAT: AACSB: Reflective Thinking LOC: AICPA Functional
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Print Form 00-1 2009 General Audit Engagement Checklist 20‚401 Section 20‚400 General Audit Engagement Checklist Checklist for Review of Audit Engagements Contents Section I. The Auditor’s Report With Regard to the Auditor’s Report............................................................................................... II. General Audit Procedures With Regard to Client Acceptance .................................................................................................. With Regard
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O U N T I N G D I T I N G Disclosure of the Engagement Partner in the Audit Report An International Perspective on the PCAOB Proposal By Jason Bergner and Ling Lin O n December 4‚ 2013‚ the PCAOB conducted an open meeting to reconsider its proposal to require the disclosure of the engagement partner (and certain other participants) in the audit report‚ as part of its efforts to improve transparency. The PCAOB is carefully considering the likely costs and benefits of this requirement before making
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EXAMPLE AUDIT ENGAGEMENT LETTER This example engagement letter is intended solely for general educational purposes. It is not intended for the purpose of providing specific legal‚ accounting‚ or other professional advice to any particular recipient or with respect to any particular jurisdiction. The author‚ publisher‚ and distributor of this document (1) make no representations‚ warranties‚ or guarantees as to its technical accuracy or compliance with any law ( federal‚ state‚ or local) or professional
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CHAPTER 17 COMPLETING THE AUDIT ENGAGEMENT Answers to Review Questions 17-1 A contingent liability is defined as an existing condition‚ situation‚ or set of circumstances involving uncertainty as to possible loss to an entity that ultimately will be resolved when some future event occurs or fails to occur. FASB ASC Topic 450‚ “Contingencies‚” classifies uncertainties into three categories: 1. Probable: The future event is likely to occur. 2. Reasonably possible: The chance of the future
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Ancestry Inquiry Fertile Question: What are the most likely factors in my ancestors’ decision to immigrate to New Zealand? Essay Plan Intro Push factor 1: War Push factor 2: Poverty Discussion of Push factors Pull factor 1: Hidden Pull factor 2: Cheap land Discussion of Pull factors Conclusion My Ancestry Intro My ancestor came to New Zealand in search for a better future in his life and was part of a horde of people that came from england to countries that were not populated at the time. He was
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1. Which of the following is a basic principle that applies to both internal and external devices? A) when connecting a faster device to a slower port‚ the port adapts to the speed of the device B) if you have multiple devices to install‚ it’s best to install them at the same time C) for most installations‚ install the device first‚ then the device driver D) some devices don’t require a software component for them to work properly 2. What happens when a problem occurs while Windows 7 is installing
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The purpose of this letter is to set out the basis on which we are to act as Information System auditors of the XYZ and the respective areas of responsibility of the XYZ’s Management Committee (“MC”) and of ourselves. Project Overview Any organization that depends on technology in the conduct of business needs evidence that such technology is efficiently and securely managed. A security policy is a set of vital mechanisms by which the XYZ’s security objectives can be defined and attained
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DEPRESSION CASE STUDIES 1. Which one of these case studies would you suspect to be most likely suffering from depression? Case Study 3 2. What information in the case study might lead you to this conclusion? Theo has been down for quite some time and is stuck in that place. He doesn’t seem to be getting sufficient help or support from the people in around him to be able to turn his life around. Theo doesn’t want to burden his friends or his family with his problems and feelings‚ and therefore have
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