Explain the return to deficit spending

Assignment Help Accounting Basics
Reference no: EM13940610

Question 1- Evidence plays a critical role in auditing. Without quality evidence, auditors cannot arrive at the right conclusions about audit objectives. Evidence can be considered strong if it is persuasive. Persuasiveness, in turn, can be achieved if the evidence is relevant, sufficient, and competent. There is relevance if different results would generate different conclusions regarding the audit objective. There is sufficiency if there is enough evidence to arrive at a conclusion and there is competency if it is credible. When evaluating evidence, auditors may follow 11 guidelines, which focus on the issues of relevance, objectivity, documentation, externality, sample size, sampling method, corroboration, timeliness, authoritativeness, directness and adequacy of controls.

Every auditor needs to present quality evidence, but what makes it competent, relevant, and sufficient isn't always clear. Eleven guidelines can help close the case.

Conduct research on the importance of the quality of evidence relied upon during an audit engagement. Why do you feel it is important to gather quality evidence? Use your research to support your conclusions.

Question 2- Leveraging your information literacy skills can provide an advantage to you in a job interview - you benefit if an employer can tell you are well-versed in seeking out information effectively and using it to your advantage.

So how might you do this? Explain one way in which you could make your superior information literacy skills evident in job interview. What examples could you use? How can you make clear the advantage hiring you would provide the employer?

Question 3- Visit the website of the Congressional Budget Office (http://www.cbo.gov) and find the U.S. Federal deficit (surplus) and total debt.

As late as 1992, the United States was running budget deficits of nearly $300 billion. During the remainder of the 1990's, deficits declined and became surpluses. As the new century began, these surpluses again turned into deficits.

• Explain the decline in deficits and subsequent surpluses in the late 1990's.
• Explain the return to deficit spending since the turn of the century.
• Consider the causes of the deficits and surpluses and provide your own insight as to whether these surpluses or deficits have a "positive" or "negative" effect on our economy.

Question 4- The written word has had an impact on the human condition for centuries. We have all been touched in some way or another by literature. This week, you will take a literary journey by searching the Internet for the pieces below. In addition to reading the story, you should find out something about the author of your chosen piece as well. After making your choice, come back and share your impressions of the story and explain how it contributes to our discussion of the Humanities.

Choose one of the following options (or find a piece of literature of your choosing to report on):

• "A Rose for Emily" by William Faulkner
• "Girl" by Jamaica Kincaid
• "The Story of an Hour" by Kate Chopin
• "Exodus" by James Baldwin
• You may also choose the following story: "Free" by Georgia Douglas Johnson.

Reference no: EM13940610

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