case studies defining the problem - important- to clarify nature of business issues =important step. even can ask questions after define the proble - need logical answer - can break problem into smaller pieces , could also conduct a SWOT analysis of the firm, then state hypotheiss and potential solutions, then choose framework to structure your hypotheses, then state assumptions, at end summarize framework and analyses you utilized. importance of pose and flexibility - confidence in...

AC 492 Final Exam AC 492 Final Exam 1. The specific audit objective that all purchases and cash disbursements made during the period were recorded relates to: existence or occurrence. presentati on and disclosure. rights and obligations. completeness. 2. The use of the computer to compare production hours to direct labor hours on daily production reports relates to the: rights and obligations assertion. completeness assertion. existence or occurrence assertion. valuation or allocation assertion....

UNIVERSITY OF ARIZONA ECON 200 Chapter 1 & Chapter 2 Study Guide Questions & Answers Chapter 1 1. Economics is A) the study of how people make choices B) the study of stock trading C) the study of money D) the study of large corporations 2. If it takes even a small amount of time, energy or money to acquire then a good is A) abundant B) in shortage C) cheap D) scarce 3. An example of a direct negative incentive is: A) providing a commission for sales. B) awarding a promotion for hard wo...

UNIVERSITY OF ARIZONA STUDY GUIDE 2020 ECON SUPPLY & DEMAND FOR UNIT 3 & UNIT 4 UNIT 3 Not all business people are entrepreneurs. Entrepreneurs are motivated by__ to assume the__ of production. The process of a government taking money, in the form of takes, from wealthier citizens and then using that money to provide for needier citizens is called i Inventions, plants, and non-human mammals can be protected by Products of the mind, such as inventions, are called "From eac...

UNIVERSITY OF ARIZONA STUDY GUIDE 2020 ECON SUPPLY & DEMAND FOR UNIT 1,2,3,4,5,6 &7 UNIT 1 Capital: Consequence: A result or effect of an action or decision; may be positive or negative. Cost: What is given up a result of a decision Economics: The study of how people seek to satisfy their needs and wants by making choices. Economize: Choose the alternative that offers the greatest benefit for the least cost. Entrepreneur: One who takes the risk of opening a business with the aim of...

UNIVERSITY OF ARIZONA STUDY GUIDE 2020 ECON SUPPLY & DEMAND FOR UNIT 5 & UNIT 6 UNIT 5 The unemployment rate is the percentage of the The most important monetary tool of the Fed is Another term for the poverty threshold is The U.S. national debt is If I have lost my job because there is a recession, then I am The term relative poverty is Charging higher interest on loans than they pay on depositors' accounts is The economist believed that a capitalist market e...

1. Define economics. 2. Explain how scarcity relates to economics. Limited resources to meet unlimited needs and wants. This situation requires people to make decisions about how to allocate resources efficiently in order to satisfy needs and wants. 3. Differentiate between opportunity costs and trade offs. Opportunity Costs: The second best alternative to a choice that is made. Trade Offs: Giving up some of one thing in order to gain more of something else. 4. Define factors of produ...