<u>It serves the interests of client management rather than the public.</u>
The special function performed by the external auditing profession is the attestation to the fairness of the financial statements of clients.
"The special function helps ensure the reliability and integrity of the financial reporting system. The auditing profession exists to serve the users of an organization's financial statements. Auditors need to remember that they are serving the public interest and not necessarily the interests of client management."
"The special function is a testament that the financial statements of their client are fair. This function serves all users of the financial statement, to ensure they all will be receiving reliable financial information."
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Answer: Cost-push inflation is caused by an increase in the prices of the underlying inputs of production.
When a company buys something on credit it increases account payable, and when a company sells on credit it will increase their account receivable.
Answer:
A) less of a public good than would be efficient.
Explanation:
The main characteristic of free markets is that the private participants (suppliers and consumers) decide how to allocate resources. They allocate resources in a way that their utility is maximized: suppliers maximize their profit while consumers maximize satisfaction. The problem with private goods is that they do not maximize profits for the suppliers, therefore, very few or no suppliers are willing to supply them resulting in a shortage.
Answer:
Multipoint competition
Explanation:
Multipoint competition can be regarded as term used in describing a
process whereby there is engagement of a firm simultaneously in competitive interactions in a markets or across multiple products, resulting to competitive actions in a particular market leading to responses in a different/ multiple markets. Multipoint competition can also be explained as situation that exist when a firm is facing the same rival in different market. It should be noted that Multipoint competition is the term that describes when two or more enterprises encounter each other in different regional markets, national markets, or industries.
