Martha and Sarah Have the Same Preferences,face the Same Prices,and

question 10

Multiple Choice

Martha and Sarah have the same preferences,face the same prices,and have the same income.Sarah's utility is measured in units while Martha's is measured in units squared.Select the best response.

• A)Martha and Sarah will choose to consume the same set of goods.
• B)Martha's and Sarah's marginal utility per dollar will be equal.
• C)Martha's and Sarah's marginal utilities will be equal.
• D)Martha and Sarah will have equal total utility.
• E)Martha and Sarah will not choose to consume the same set of goods.

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Definitions:

Opportunities For Fraud

Circumstances or environments that could allow for the occurrence of fraudulent activities due to lack of controls, oversight, or ethical culture.

Review And Reconciliation

A process of ensuring that two sets of records or balances are in agreement, usually by examining and comparing documents or figures.

External Audit

An external audit is an independent examination of financial records and operations conducted by an outside entity to ensure accuracy and compliance with regulations.