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With respect to the nervous system, excitation is to rest as __________ is to __________.

▸ somatic; autonomic

▸ central; peripheral

▸ parasympathetic; sympathetic

▸ sympathetic; parasympathetic
Which of the following is a mental series of exercises meant to refocus attention and achieve a heightened sense of focus?

▸ Meditation

▸ Biofeedback

▸ Relaxation response

▸ Progressive relaxation
Structuralism emphasized __________.

▸ individual differences

▸ the application of biological principles to the mind

▸ the influence of subconscious urges on conscious behavior

▸ the basic units of experience and their combinations
Which of the following statements is not correct?

▸ Forecasts can be provided for general use.

▸ Forecasts can be provided for limited use.

▸ Projections can be provided for general use.

▸ Projections can be provided for limited use.
When auditing depreciation expense, the two major concerns related to the accuracy audit objective are

▸ consistent application of depreciation method and useful lives.

▸ consistent application of depreciation method and classification of assets.

▸ correctness of calculations and consistent application of depreciation policies.

▸ cost of the fixed asset and useful lives.
In testing acquisitions the auditor needs to understand the appropriate accounting guidance related to acquisition accounting. Which of the following is not an accounting consideration for the auditor as regards to acquisition cost?

▸ inclusion of material transportation and installation costs

▸ recording of trade-in costs

▸ allocating costs when building and equipment are purchased at one price

▸ verifying that purchased equipment amounts correspond to the budgeted amount
To address heightened risks of fraud, the auditor can do all of the following except

▸ use specialists to assist in evaluating the accuracy and reasonableness of management's key estimates.

▸ decrease the amount of substantive tests.

▸ use ACL or IDEA to search for fictitious revenue transactions.

▸ use EXCEL to perform analytical procedures at the disaggregated level.
A planned detection risk (PDR) of .05 means the auditor plans to accumulate audit evidence until the risk of misstatement exceeding performance materiality is reduced to 5 percent.

▸ true

▸ false
The auditor's risk assessment for fraud should be ongoing throughout the audit.

▸ true

▸ false
The only parties who can recover from auditors under the Securities Act of 1933 are original purchasers of securities.

▸ true

▸ false
Many small, local accounting firms perform audits as their primary service to their clients.

▸ true

▸ false
In his book, The Wealth of Nations, Adam Smith claimed that a global free trade system allows countries to use their resources more efficiently by selling what they produce best, while buying what other countries produce better. If this is the case, why do some groups and organizations oppose globalization?
The Gini coefficient for North American countries is between 0.3 and 0.4, and for Latin American countries it is between 0.4 and 0.5. What does this tell us about income inequality in these regions?


Income inequality in Latin America is growing.

Income inequality in North America is decreasing.

Income inequality is greater in Latin America than in North America.

Income inequality is greater in North America than in Latin America.
What is a rights revolution? Incorporate examples into your answer.
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