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Question - Assume that you are a manufacturing accounting consultant. Your current client, Hot Stuff Bonfire, Inc., manufactures custom-order outdoor fire pits. You have learned that Hot Stuff is not satisfied with its periodic inventory system because it does not provide timely inventory costing information. You plan to recommend that Hot Stuff convert to a cost accounting system.
1. Why a cost accounting system is appropriate for Hot Stuff Bonfire, Inc.
2. A description of the documents that will be included in the cost accounting system.
3. How the documents in part 2 facilitate the operation of the cost accounting system.
Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest. How much control does the Fed have over this longer real rate?
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