If a country uses trade quotas to overcome chronic trade deficits, what would the most likely outcome be?

• A.Unemployment and productivity rates will rise.
• B.Unemployment rates will rise and productivity rates will decline.
• C.Unemployment rates will decline and productivity rates will rise.
• D.Unemployment and productivity rates will decline.

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The efficient markets theory implies that securities prices are:

• A.Not a good estimate of future cash flows.
• B.Fair and a reflection of all publicly available information.
• C.Not the best benchmark for corporate financial decisions
• D.Always less than their fair value.

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Management of a company is attempting to build a reputation as a world-class manufacturer of quality products. Which of the following measures would not be used by the firm to measure quality?

• A.The percentage of shipments returned by customers because of poor quality.
• B.The number of parts shipped per day.
• C.The number of defective parts per million.
• D.The percentage of products passing quality tests the first time.

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Which of the following best describes a potential benefit of using data analyses?

• A.Its outcomes can be easily interpreted into audit: conclusions.
• B.It easily aligns with existing internal audit competencies to reduce expenses
• C.Its application increases internal auditors' adherence to the Standards
• D.It provides a more holistic view of the audited area.

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Which of the following statements is true regarding the capital budgeting procedure known as discounted payback period?

• A.It calculates the time a project takes to break even.
• B.It begins at time zero for the project.
• C.It ignores the time value of money
• D.It calculates the overall value of a project

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