Which One of the Following Was NOT an Objective of the Institute's

question 11

Multiple Choice

Which one of the following was NOT an objective of the Institute's Quality Review Program?

• A) Reduced need for costly peer reviews
• B) Enhanced client service
• C) Risk reduction
• D) Increased returns to accounting firms

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Definitions:

GDP

Gross Domestic Product refers to the sum total of all monetary values of final goods and services produced within the geographical confines of a country during a given time frame.

Income Effect

The change in an individual’s or economy’s income and how that change will affect the quantity demanded of a good or service.

Substitution Effect

The change in consumption patterns due to a change in the relative prices of goods, leading consumers to replace more expensive items with less expensive ones.

Interest-Rate Increase

A rise in the cost of borrowing money, reflected in a higher percentage charged on loans and credits.