Chapter 5: Internal Control over Financial Reporting 1. Internal control is a process designed to guarantee the achievement of the objectives of reliable financial reporting‚ compliance with laws and regulations and ineffective and inefficient operations. FALSE 2. Auditing standards require that the auditor exercise professional judgment and maintain professional skepticism throughout the planning and performance of the audit. TRUE 3. If internal controls are not enforced they are useless
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WAS THE MARSHALL PLAN THE REASON FOR WESTERN EUROPE TO STAND ON ITS OWN FEET? The Marshall Plan was introduced by George Catlett Marshall‚ Chief of Staff of the Army and Secretary of State of the United States of America to Harvard University students on June 5‚ 1947. Its theme was to state that the European economy was destroyed as all its sources had been redirected to the efforts of the war and now people didn’t have money even to buy food from farmers (Sanchez‚ 2011). The aim of the plan was
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The year is 1729. Life in Dublin‚ Ireland consists of less living and more suffering. Over population and poverty become every family’s newest members. Catholics and Protestants are in constant struggle‚ as their two hundred year battle continues in the land of green. One man filled with bitterness takes on the task of slapping fellow countrymen in the face with reality. One man named Jonathan Swift provides the hand. Jonathan Swift writes "A Modest Proposal" with "no other motive than the
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When an economy has just come out of a recession a persistent budget deficit exists to in order to stimulate the economy. However‚ the existence of this large deficit in the long run can evolve into a problem due to the financing of the debt‚ and the large opportunity cost it holds. For these reasons a government would want to reduce this. Blanchard & Johnson (2013) outline the two dominant fiscal tools that accomplish a reduction in the government deficit in the short run: increasing taxes and
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Vietnam http://www.warchapter.com/Vietnam_war_Tunnels.html The tunnels were a complete underworld‚ it was al there; kitchens‚ hospitals‚ workshops‚ sleeping areas‚ communications‚ ammunition storage‚ even some entertainment.The life was harsh though: the spaces were cramped‚ the air was of poor quality‚ it was moist and there were lots of insects and rats. Above all that living in a tunnel meant no sunlight all day‚ operations were at night during the cover of dark. This was effective because
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In spite of the fact that Franklin Roosevelt’s New Deal gave help to a huge number of Americans‚ the New Deal eventually fizzled on the grounds that it didn’t end the Great Depression. The New Deal was basically insufficient to cure the economy of its diseases. As a matter of fact‚ the New Deal was very effective in accomplishing the restricted objective of giving quick help to a huge number of eager‚ destitute‚ and jobless Americans. The Federal Emergency Relief Act‚ for instance‚ reserved about
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a) AZKALS – In terms of the External Conditions impose to the group‚ they already passed the hard part of organizing the team. With the Economy of the Philippines‚ forming a sports team requires a lot of factors. Azkals have somewhat proved their capability amongst the External conditions. They have all the resources and support from investors and other private companies which then helped them in organizing a management that will help them in creating formal regulations. With their standing they
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The percentage of overweight children at or above the gender and age specific 95th percentile of body mass index (BMI)‚ based on height and growth charts‚ is increasing at an alarming rate. According to Oude Luttikhuis H et al‚ the worldwide prevalence of overweight (including obesity) in children and young people aged 5-17 years is approximately 10%‚ with that of obesity alone being 2-3%. A pedometer is a non-invasive instrument that provides instant feedback regarding activity level by measuring
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Affirmative action is defined as a policy that was put in place trying to take into consideration the members of the minority groups in the society or the groups that are considered as being disadvantaged due to the fact that they experience discrimination in the society currently‚ or they have suffered that before. Among the groups that had been covered by the affirmative action were the women since for the longest time‚ women had been considered as the weaker and inferior gender and thus suffered
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Advertising in general is made to give information to people about products or campaigns that can be promoted through magazines‚ newspapers‚ television‚ social media‚ and many more options. Most of the time advertising is typically used to appeal to a certain race‚ sex‚ social class‚ or even a certain country. Advertising in a certain country is made to make sure that advertising meets the cultural needs of that particular audience. There are many goals that are achieved when advertising is occurring
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