Arithmetical Mistakes,use of Inappropriate Accounting Principles,incorrect Application of Accounting Principles,and

question 14

Multiple Choice

Arithmetical mistakes,use of inappropriate accounting principles,incorrect application of accounting principles,and disagreements about valuation or other estimates are the causes of ________.

• A)fraud
• B)misstatements
• C)materiality
• D)adjustments

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Definitions:

Foreign Assets

Investments including securities and properties owned by a country or individual in foreign countries.

Quantity Of Dollars

The quantity of dollars refers to the total amount of U.S. currency circulating within the economy, including physical cash and bank deposits.

Loanable Funds Demanded

The total amount of loans that borrowers are willing to take at a given interest rate, over a certain period.

Net Capital Outflow

Net capital outflow is the difference between the domestic country's purchases of foreign assets and foreign purchases of the domestic country's assets over a period of time.