Internal control over cash receipts is weakened when an employee who receives customer mail receipts also:
A) maintains a petty cash fund.
B) records credits to individual accounts receivable.
C) prepares bank deposit slips for all mail receipts.
D) prepares initial cash receipts records.
Answer: B) records credits to individual accounts receivable.
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When one applies the Heckscher-Ohlin model of trade to the issue of trade-related income redistributions, one must conclude that North South trade, such as U.S.-Mexico trade
A) must help low skill workers on both sides of the border. B) is likely to hurt high-skilled workers in the U.S. C) is likely to hurt low-skilled workers in the U.S. D) is likely to hurt low-skilled workers in Mexico. E) is likely to help highly skilled workers in Mexico.
Refer to the above figure. A surplus will exist when
A) the price is between $0 and $6. B) the price equals $6. C) the price equals $10. D) quantity demanded equals 15.