When the Auditor Develops Supporting Evidence for Amounts Posted to Account

question 15

Multiple Choice

When the auditor develops supporting evidence for amounts posted to account balances with documentary evidence, that process is called:

• A)inquiry.
• B)confirmation.
• C)vouching.
• D)physical examination.

Analyze how taxes affect market outcomes and the burden of tax on buyers and sellers.

Understand the concept of elasticity and how it affects the burden of taxation.

Evaluate the impact of rent control laws on the market.

Calculate the effects of a per-unit tax on market equilibrium, including the size of the tax and its distribution between buyers and sellers.