In the context of making decisions in a group, when a strong leader makes his or her preferences clear, and the result is the same as it would have been if the leader had made the decision alone, it leads to a situation known as

Divisional management stated that a recent gross margin increase was due to increased efficiency in manufacturing operations. Which of the following audit procedures would be most relevant to that assertion?

a) Select a sample of finished goods inventory and trace raw materials cost back to purchase prices to determine the accuracy of the recorded raw materials price. b) Obtain a physical count of inventory. c) Take a physical inventory of equipment to determine if there were significant changes. d) Select a sample of products, then compare costs per unit this year to those of last year, test cost buildups, and analyze standard cost variances.

What is the difference between gross domestic product (GDP) and gross national product (GNP)?

What will be an ideal response?