Auditor tests of the physical controls over raw materials, work in process, and finished goods are generally limited to

How does the NAFTA seem to increase the international competitiveness of U.S. and Canadian firms?

a) It gives them access to scarce natural resources hitherto unavailable. b) It increases tariff barriers making the North American market less attractive to Asian companies. c) It allows them to take advantage of lower labor costs in Mexico. d) It gives them production bases in South American markets such as Brazil and Argentina.

A seller sold her house to a buyer who agreed to assume the existing loan. They proposed this to her lender, who approved the assumption. Which of the following statements is true with respect to the outstanding loan payments?

A. The seller remains primarily liable and the buyer is secondarily liable B. The buyer is primarily liable and the seller is secondarily liable as a surety C. The seller is completely relieved of liability D. The buyer is completely relieved of liability