Under which of the following circumstances would an auditor be most likely to intensify an examination of a $500 imprest petty cash fund?
A) Reimbursement occurs twice each week.
B) Reimbursement vouchers are not prenumbered.
C) The custodian occasionally uses the cash fund to cash employee checks.
D) The custodian endorses reimbursement checks.
Answer: A) Reimbursement occurs twice each week.
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Large differences in interest rates between countries would indicate that
A) the global market is thriving. B) there is good communication between countries about potential global investment opportunities. C) there are unrealized gains from trade. D) the market is in danger of collapse. E) the supply growth exceeds the aggregate demand.
When each of two countries can produce one good with fewer resources than the other, each is said to have an absolute advantage in that good
Indicate whether the statement is true or false