What is the purpose of a central bank and include an example of their activities?
What will be an ideal response?
Central banks are the monetary authorities in each country that issue currency and regulate national money supplies. Australia, Canada, China, Indonesia, the United States, and numerous European countries cut bank interest rates and injected billions into national money supplies. The European Central Bank (www.ecb.int) devised new banking regulations with the goal of averting future crises.
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Which of the following is an example of internal failure costs?
A) costs incurred for the evaluation of the quality of suppliers' processes B) costs incurred in the inspection at various stages of production C) cost incurred for the reworking of substandard products D) cost incurred as warranty expenses
Which of the following violates the AICPA's Code of Professional Conduct?
a. A member not in public practice is a bank controller who is designated as a CPA on bank stationery and in bank advertisement listing officers of the bank b. A member contracts with a service entity to maintain a client's computer hardware and charges the client a higher servicing fee than that charged to the member by the service provider c. A partner in a CPA firm is elected to public office. After her withdrawal from the firm, the remaining partners continue to use a firm name that includes her name d. A member shares offices with another member. Their joint letterhead implies that a partnership exists when each member is in fact practicing individually