An Auditor of Any Governmental or Not-For-Profit That Receives Federal

question 47

True/False

An auditor of any governmental or not-for-profit that receives federal monies must include a report on the entity's internal control structure within their audit report or provide a cross-reference to that report.

Comprehend the role and influence of businesses and corporations in modern economies and politics.

Distinguish between elite and popular democratic views on economic issues.

Grasp the principles and criticisms of shareholder democracy.

Understand the similarities and differences between international trade agreements like WTO and NAFTA.

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Definitions:

Annual Deficit

The shortfall in a government's income compared to its spending in a given fiscal year.

George Bush

Refers to either George H.W. Bush, the 41st President of the United States (1989-1993), or his son George W. Bush, the 43rd President of the United States (2001-2009), each having made lasting impacts on American and international politics.

Crowding-in

An economic phenomenon where increased government spending leads to higher private sector investment.

Crowding-out

A situation where increased public sector spending reduces the amount of available funds for private sector investments.