Listed below are controls that have been developed by the management of Cirus Manufacturing Co.

1. Management surveys customers about their satisfaction with the company's service.
2. The human resources department investigates the educational background of prospective employees.
3. Invoices are reviewed for accuracy before they are mailed to customers.
4. Management periodically evaluates the threats to preparing reliable financial statements.
5. The internal auditors periodically evaluate the controls in the various departments of the company.
6. Management has developed and distributed a code of conduct.
7. Budgets and forecasts are used by the production departments to control expenses.
8. The accounting department uses a manual of accounting policies and procedures.
9. Entry into the warehouse is strictly controlled by security personnel.
10. Management has prepared and distributed an organizational chart.
Required:
For each of the controls, identify the internal control component and, if applicable, the sub­ component or principle 10 which it relates.

Atlas manufacturing produces a unique valve, and has the capacity to produce 50,000 valves annually. currently atlas produces 40,000 valves and is thinking about increasing production to 45,000 valves next year. what is the most likely behavior of total manufacturing costs and unit manufacturing costs given this change? a. total manufacturing costs will increase and unit manufacturing costs will also increase. b. total manufacturing costs will stay the same and unit manufacturing costs will stay the same. c. total manufacturing costs will increase and unit manufacturing costs will decrease. d. total manufacturing costs will increase and unit manufacturing costs will stay the same.

The new york times (nov. 30, 1993) reported that “the inability of opec to agree last week to cut production has sent the oil market into turmoil . . [leading to] the lowest price for domestic crude oil since june 1990.” why were the members of opec trying to agree to cut production? so they could save more oil for future consumption so they could lower the price so they could raise the price why do you suppose opec was unable to agree on cutting production? because each country has a different production capacity because each country experiences different production costs because each country has an incentive to cheat on any agreement the newspaper also noted opec’s view “that producing nations outside the organization, like norway and britain, should do their share and cut production.” what does the phrase “do their share” suggest about opec’s desired relationship with norway and britain? opec would like norway and britain to keep their production levels high. opec would like norway and britain to act competitively. opec would like norway and britain to join the cartel.

If canada has a surplus of paper products produced but its consumers demand more cleaning solutions, and the us has an abundance of cleaning solutions but consumers are demanding more paper products, how would trade benefit both countries? trade would assist both countries by creating excess demand. trade would assist both countries by strengthening their natural resources. trade would assist both countries to both reduce excess supply and satisfy market demand.