Real Estate Settlement Procedures Act (RESPA) regulates methods of settlement and closing.
In 1974, the United States Congress approved the Real Estate Settlement Procedures Act (RESPA), which is now codified as Title 12, Chapter 27 of the United States Code, or 12 U.S.C. The primary goal was to safeguard homeowners by helping them to become more informed consumers of real estate services and by banning kickbacks and referral fees that drive up the price of settlement services.
In accordance with RESPA, mortgage lenders and other parties participating in mortgage lending are required to promptly and pertinently disclose to borrowers the nature and expenses of a real estate settlement procedure.
Hence the correct option is B.
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if real interest rates in the united states increase relative to real interest rates in other countries, which of the following will occur? if real interest rates in the united states increase relative to real interest rates in other countries, which of the following will occur? capital will flow out of the united states. the demand for loanable funds in the united states will increase. the supply of loanable funds will increase in the united states. the supply of loanable funds will increase in other countries.
If the real interest rates in the United States increase relative to real interest rates in other countries, then the supply of loanable funds will increase in other countries.
What are loanable funds?The loanable funds concept is a theory of market interest rates in the field of economics. With this strategy, the supply and demand of loanable money determine the interest rate. All forms of credit, including loans, bonds, and savings accounts, are referred to as "loanable funds."
What are real interest rates of a country?The lending interest rate that has been adjusted for inflation using the GDP deflator is known as the real interest rate. However, the terms and circumstances that come with lending rates vary each nation, limiting their comparability.
The nominal interest rate is subtracted from the inflation rate to arrive at the real interest rate. The real interest rate is equal to the nominal interest rate less the inflation rate, to put it mathematically.
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Exempting things such as groceries and clothing from sales tax is an attempt by states to make sale tax less ______.
Exempting things such as groceries and clothing from sales tax is an attempt by states to make sale tax less regressive.
Regression (psychology), is a protecting response to some unaccepted impulses. Nodal regression, is the motion of the nodes of an object in orbit, within the contrary route to the motion of the object.
The act of going back to a previous region or kingdom; return or reversion. retrogradation; retrogression. Biology. reversion to an earlier or less superior nation or form or to a common or standard type.
"Regression" comes from "regress" which in flip comes from the Latin "regresses" - to go back (to something). In that sense, regression is the method that allows "to head back" from messy, hard-to-interpret records, to a clearer and extra meaningful model.
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To ensure a balanced use of advertising media, radio advertisements must not exceed 50% of the total number of advertisements authorized. In addition, television should account for at least 10% of the total number of advertisements authorized. (a) if the promotional budget is limited to $15,900, how many commercial messages should be run on each medium to maximize total audience contact?
Objective function The objective is to maximize the total audience contact=1.5+0.2=1.7%
Solution Let x1 = Number of commercial messages run on Television10% x2 = 0.2 Number of commercial messages run on Radio50% x3 = 1.5 Number of commercial messages run on Online Objective function The objective is to maximize the total audience contact=1.5+0.2=1.7%.Simply put, the "total audience viewing behavior measuring" technique is a method that businesses employ to gauge how viewers consume material regardless of the platform they use. Both active and passive metering devices are covered by this method. The "total audience viewing behavior measurement" technique, then, measures audience viewing behavior independently of the device used to access the content.
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jounralize and post closing entries and complete the closing process list all debit entries before credit entries credit account titles are authomatically indented when the amount is entered
Preparing closing entries, which involves journalizing and uploading the entries to the ledger, is the eighth phase in the accounting cycle. During closure, there are four entries. To the Income Summary account, the initial entry cancels revenue accounts.
What order should the steps for closing an account be taken in?Following is the basic order of closing entries: Clear the balances in the revenue accounts by debiting each revenue account and crediting the income summary account. To eliminate the balances in all expenditure accounts, credit all expense, accounts and debit the revenue summary account.
A journal entry debiting all revenue accounts and crediting the income summary is used to accomplish this. The same procedure is then used to calculate expenditures. Crediting the expense accounts and debiting the income summaries closes out all expenditures.
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kay, an art collector, promised hammer, an art student, that if hammer could obtain certain rare artifacts within 2 weeks, kay would pay for hammer’s postgraduate education. at considerable effort and expense, hammer obtained the specified artifacts within the 2-week period. when hammer requested payment, kay refused. kay claimed that there was no consideration for the promise. hammer would prevail against kay based on
Hammer will prevail on unilateral contract which explicitly states that payment will only be provided in exchange for performance on the promise by one side.
What are the attributes of a unilateral contract?One side, known as the offeror, makes an offer in a unilateral contract. It could be a deal made to everyone or just one individual. This kind of agreement isn't based on a promise; rather, it calls on the offeree—someone who has consented to act in accordance with the agreement—to carry out an action that the offeror demands.
What distinguishes bilateral agreements from unilateral agreements, and what are some examples of each?Bilateral and unilateral agreements are both justiciable in court. A unilateral agreement, for instance, becomes enforceable once the promisor's demand for the conduct is undertaken. A bilateral contract is binding on both parties from the start and is immediately enforceable.
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which of the following is not an example of an automatic stabilizer? a. the increase in unemployment insurance payments during a recession b. the increase in welfare payments during a recession c. the reduction in income tax revenues during a recession d. the passage of a stimulus package to respond to a recession e. all of these are automatic stabilizers.
The option that is not an example of an automatic stabilizer is a. the increase in unemployment insurance payments during a recession
What is meant by automatic stabilizer?Automatic stabilizers can be described as the mechanisms that is been built into government budgets, without any vote from legislators, that increase spending or decrease taxes when the economy slows.
It should be noted that the economic stabilizer, which can be practiced by institutions and practices in an economy and it serve to reduce fluctuations in the business cycle through offsetting effects on the amounts of income available .
In conclusion, the automatic stabilizers can be perceived as the features of the structure of modern government budgets which can be felt in the area of the income taxes and welfare spending.
Therefiore, option A is correct.
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knowledge check in 1994 mexican peso decliend against us dollar during so called tequila crisis what exacerbating facot did the mexico
During the infamous "Tequila Crisis" of 1994, the Mexican peso lost value in comparison to the American dollar. What had the 2002 Argentine crisis in common with Mexico's "Tequila Crisis" as an aggravating factor? Both nations owed significant amounts of money in dollars.
What does the quizlet for the Big Mac index show?Currencies might be regarded too highly or too lowly. It substitutes the cost of a large mac in the United States with the cost of a big mac elsewhere in the world.
What three outcomes did the Mexican Revolution have?The Mexican Revolution led to the adoption of the 1917 Constitution, which established the separation of church and state, government ownership of the subsurface, communal organizations' ownership of land, and the right of workers to organize.
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Which two channels are examples of physical sales channels?
a)Auction marketplaces
b)General marketplaces
c)Wholesalers
d) Retail stores
Answer: retail stores and general marketplaces
Explanation:
Answer:
retail stores
Explanation:
maryland broker joseph tells his client that a property is zoned as residential, even though he knows it's zoned as commercial. this violation is an example of .
Maryland broker joseph tells his client that a property is zoned as residential, even though he knows it's zoned as commercial. this violation is an example of substantial and willful misrepresentation.
Misrepresentation is a ground for contract breach regardless of the amount of the transaction because it solely pertains to statements of fact and excludes expressions of opinion or prediction.
False assertions of fact that affect another party's choice regarding a contract and, in some situations, give rise to a claim for damages are known as misrepresentations.
Innocent, negligent, and fraudulent misrepresentations are the three types, and each has a unique set of punishments.
Misrepresentation in real estate is the term used to describe a falsehood or deliberate fabrication that affects the market value of a house or other piece of property. One frequent example of this is the inaccurate depiction of a property's square footage.
In the given situation, Maryland broker Joseph is willingly telling his client a wrong fact which is affecting the market value of the land, hence the violation done by Broker Joseph is substantial and willful misrepresentation.
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based on this information alone, what are the amounts of total liabilities that would appear on riley's december 31 balance sheets for year 1 and year 2, respectively?
B) $37,890 and $0.are the amounts of total liabilities that would appear on riley's december 31 balance sheets for year 1 and year 2, respectively.
What do you mean by liabilities?Liability typically denotes your responsibility for something, but it can also imply that you owe someone money or services. A homeowner's tax obligation, for instance, may be the amount of property taxes due to the city or the amount of income tax due to the federal government. Equity reflects the ownership position that shareholders have in a firm, whereas liabilities are the debts or obligations that a corporation owes to other parties. This is the main distinction between equity and liabilities. Liabilities are subtracted from assets to calculate equity.
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a customer asks you for a quick, accurate definition of 12b-1 fees. a good reply would be that they are
"12b-1 fees" are charges made from the assets of a mutual fund or ETF to pay the costs of distribution, such as promoting and selling mutual fund shares, as well as occasionally shareholder services.
Describe the 12b-1 plan?A plan designed by mutual fund companies for the distribution of funds through middlemen is known as a 12B-1 plan. The partnerships between distributors and intermediaries who support the selling of a fund are mapped out by 12B-1 plans.
How much of a 12b-1 fee can a Finra member charge?The amount of 12b-1 fees that funds may pay is not capped by the SEC, but according to FINRA regulations, 12b-1 fees must be utilized to cover marketing and distribution costs rather than shareholder service costs.
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able plastics, an injection-molding firm, has negotiated a contract with a national chain of department stores. plastic pencil boxes are to be produced for a 2-year period. if the firm invests $62,000 for special removal equipment to unload the completed pencil boxes from the molding machine, one machine operator can be eliminated saving $32,000 per year. the removal equipment has no salvage value and is not expected to be used after the 2-year production contract is completed. the equipment would be serviceable for about 15 years. what is the payback period? should able plastics buy the removal equipment?
For a period of two years, plastic pencil cases are to be produced. If the business spends $62,000 on specialized removal tools to unload.
What material do pencil cases contain?To be created is an image for plastic pencil boxes.
The most typical pencil casing is thin wood, which is permanently bonded to the core and has a section that is often hexagonal but can occasionally be cylindrical or triangular.
Where was the pencil case made?Verona Pearl Amoth , an American stationery expert , first invented the mass-produced, modern pencil case in 1946. But Lothar von Faber, a well-known German pencil maker, is credited with creating the first pencil case in the 1880s.
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Upscale retailers, such as Nordstrom, feature customer service as theirsignificant point of difference and use that difference to compete with lessexpensive stores. This is known as ___________ competition.a) target forcingb) upscalec) point-of-differenced) nonprice
This is known as nonprice competition. The correct answer is option (d).
What is non-price competition?In non-price competition, a company strives to differentiate its product or service from competing items on the basis of features like design and workmanship," according to a marketing strategy. Because it occurs between two or more producers who sell goods & services at the same prices but strive to expand their respective market shares by non-price factors like marketing strategies and higher quality, it frequently happens in imperfectly competitive markets.
Companies that rely on non-price competitiveness use promotional expenditures including marketing campaigns, brand management charges, advertising, sales staff, promote sales, free gifts, and complimentary delivery services instead of engaging in price wars with their rivals.
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most economists believe that classical theory describes the world in the short run but not in the long run. a. true b. false
Most economists believe that classical theory describes the world in the short run but not in the long run. - false
A principle is a rational form of summary considering a phenomenon, or the results of such questioning. The system of contemplative and rational thinking is regularly associated with such approaches as observational observe or research. Theories may be scientific, belong to a non-medical discipline, or no area at all. relying at the context, a idea's assertions may, for instance, include generalized explanations of the way nature works. The phrase has its roots in ancient Greek, however in modern use it has taken on numerous related meanings.
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Life insurance is when a person joins a risk-sharing group known as an insurance company and purchases a contract also called an insurance ___.
policy
Life insurance is when a person joins a risk-sharing group and purchases a contract also called an insurance policy
A contract between an insurance policyholder and an insurance company in which the insurer agrees to pay a quantity of money in exchange for a premium upon the demise of an insured person or after a specific amount of time is known as life insurance. When a person joins a risk-sharing organization called an insurance company and purchases a contract also known as an insurance policy, they are said to be purchasing life insurance.
In the event of a person's death, life insurance payouts may help replace their income. This indicates that the beneficiaries may employ the funds to assist in paying for necessities like a mortgage or their children's college tuition. It can also be used to settle debts like unpaid credit card balances or a revolving auto loan.
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as country incomes rises, what would you generally expect to happen to the burden of noncommunicable diseases as a share of the total disease burden?
As the country incomes rises, we would want to expect that the burden of noncommunicable diseases as a share of the total disease burden should go down.
What is a Noncommunicable diseases?A noncommunicable diseases means the group of conditions that are not mainly caused by an acute infection which often result in long-term health consequences and often create a need for long-term treatment and care. This type of diseases includes heart disease, stroke, cancer, diabetes and chronic lung disease which are collectively responsible for 74% of all deaths worldwide.
When a country incomes rises, the quality of life and standard of living should increases, hence, the burden of noncommunicable diseases is expected to go down.
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which government body is primarily responsible for regulating banks and ensuring the health of the banking system?
The Reserve Bank of India is the government body is primarily responsible for regulating banks and ensuring the health of the banking system.
RBI or Reserve Bank of India is known as the banker's bank. It is known for that because it acts as a bank which gives loans for all the commercial banks in India. Reserve bank holds their cash reserves, lends them short -term amounts and provides them the central clearing and payment facilities.
Indian Central Banking Enquiry Committee issues of the establishment of the Reserve Bank of India as the Central Bank for India. Reserve Bank of India Act, 1934, constitutes the statutory basis on which the Bank is established.
the main objectives of the RBI according to the Preamble of the same are as follows:-
To regulate the issue of Bank notes.To secure monetary stability in the country.To learn more about Reserve Bank of India:
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developing a mitigation plan for possible disruption scenarios is part of which continuity planning step?
The Evaluate Continuity Planning step includes creating a corrective action report that evaluates effective mitigation actions.
A mitigation action is a specific action, project, activity, or process undertaken to reduce or eliminate the long-term risk to people and property posed by hazards and their consequences. Implementing mitigation measures contributes to the plan's mission and goals.
Risk mitigation is the practice of minimising the impact of potential risks by devising a strategy to manage, eliminate, or limit setbacks to the greatest extent possible.Management will monitor progress and determine whether any actions, if any, need to be modified following the creation and implementation of the plan.
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On december 31 spearmint, incorporated, issued $450,000 of 9 percent, 3-year bonds for cash of $461,795. Complete the necessary journal entry for spearmint, incorporated, by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns.
Bonds payable is a balance sheet account that can be recorded as a current or non-current liability. It shows the sum should have been paid to the bondholders at the development date.
Expenses on Giving Bonds:
The expressed loan fee of a security is called its coupon rate. Investors typically pay more or less than the bond's face value because this rate is not always equivalent to the rates that the market requires.Investors pay more for bonds when the coupon rate is higher than the market-related interest rate. This extra money is called a bond premium. This premium is recognized as an interest expense deduction over time.The bond may be amortized using either the effective interest rate method or the straight-line method. Over the course of the bond's lifetime, both approaches lead to amortization.Where can bonds be paid?The company is a borrower because it is a bond issuer. As a result, issuing the bond results in the creation of a liability. As a result, bonds payable are listed as liabilities on the balance sheet of the business. In most cases, bonds that are due fall under the non-current liability category.
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A company sold a delivery truck for $3200 that had originally cost $40000, and had a book value of $4000. Which of the following is the correct reporting of the respective amounts? a. $3200 as an investing cash flow on the statement of cash flows, and $800 as a loss on the income statement b. $4000 as an investing cash flow on the statement of cash flows, and $3200 as a gain on the income statement c. $800 as an investing cash flow on the statement of cash flows, and $3200 as a gain on the income statement d. $3200 as an operating cash flow on the statement of cash flows, and $40000 as a loss on the income statement
As a loss on the income statement $800
The given company sold a delivery truck for $3200 having an original cost of $40,000 and a book value of $4000
Book value of the truck
$4,000
(-) Sale proceeds
$3,200
Loss on sale of truck
$800
The purchase or sale of a fixed asset like property, plant, or equipment would be an investing activity.
In the given case, the sale of a delivery truck is an investing activity and is recorded in investing cash flow of the cash flow statement and loss is recognized in the income statement
Hence, $3200 as an Investing cash flow on the statement of cash flows and $800 as a loss on the income statement
$3200 as an Investing cash flow on the statement of cash flows and $800 as a loss on the income statement.
An income statement shows the income, expenses, and profitability of a company for a specified period. It is also sometimes referred to as the income statement (P&L) statement or income statement. Income from the sale of products or services. Expenditure to generate revenue and manage the business.
An income statement is a financial statement that shows a company's income and expenses. It also shows whether a company is making a profit or losing money over a period of time. The income statement, along with the balance sheet and cash flow statement, help you understand the financial position of your business.
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Metters Cabinets, Inc., needs to choose a production method for its new office shelf, the Maxistand. To help accomplish this, the firm has gathered the following production cost data: Process Type Annualized Fixed Cost of Plant and Equip. Variable Costs Labor Material Energy Mass Customization $1,260,000 30 18 12 Intermittent $1,000,000 24 26 20 Repetitive $1,625,000 28 15 12 Continuous $1,960,000 25 15 10 Metters Cabinets projects an annual demand of 24,000 units for the Maxistand. The maxistand will sell for $120 per unit. a)Which process type will maximize the annual profit from producing the Maxistand? b)What is the value of this annual profit?
The amount of money made from the end of the period is called net profit.It is calculated by dividing the total amount spent on costs by the total amount sold.The variable and fixed costs of a product or period of time make up the total costs.
Mass customization costs $60, plus $18 and $12.
How does net profit work?The amount your business makes after deducting all operating, interest, and tax costs over a given time period is called net profit.You will need to know a company's gross profit in order to arrive at this value.
How is net profit calculated?
Gross profit minus operating costs and taxes is net profit.It can also be thought of as total income less all costs.
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which type or types of inventory timing system requires the user to record two journal entries every time a sale is made.
According to the claim, a perpetual inventory timing system necessitates that the user enter two journal entries for each transaction.
What are commercial sales?Business Sales refers to the in-home sale of Company Products by the Company or its Affiliates. Business Sales refers to sales made while conducting business, and (ii) GAAP must be followed when determining whether a corporate sale has already been completed before or after the closing.
What is a job in sales?Presenting and marketing products and services prospective potential consumers is a part of the sales profession. You are frequently responsible for generating leads and hitting sales goals when working in sales.
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During 2018, Noriko paid the following taxes related to her home:
Real Estate property taxes on residence (paid from escrow account)
$ 1,800
State personal property tax on her automobile (based on value)
600
Property taxes on land held for long-term appreciation 400
What amount can Noriko deduct as property taxes in calculating itemized deductions, assuming she was under the $10,000 limit for state and local taxes, for 2018?
$400.
$1,000.
$2,400.
$2,800.
$2,800.
$1,800 + $600 +$400 = $2,800
As the state personal property tax was based on the value of her vehicle, it is a tax and not a fee, and is allowable as a deduction. The Tax Cuts and Jobs Act (TCJA) of 2017 limited the deduction for income, real estate and other state and local taxes. Beginning in 2018, the limitation for the deductibility of all state and local taxes is $10,000 ($5,000 for MFS).
If Noriko is under the $10,000 cap for state and local taxes for 2018, she can deduct $2,800 in property taxes when calculating her itemized deduction. The right response in this case is option D.
Real estate that is held by a person, a business, or another sort of legal entity is subject to property tax. Real estate ad-valorem taxes, which are viewed as regressive taxes, are the most common type of property tax. It is computed by the local government in the area where the property is situated, and the owner is responsible for paying for it.
$1,800 in real estate property taxes for a home
Her car's state personal property tax is worth $600.
$400 in property taxes for a plot of land preserved for future value
Since the state's personal property tax was calculated based on the value of her car, it qualifies as a tax rather than a charge and can be deducted.
= $1,800 + $600 +$400
= $2,800
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ariana is the type of manager who completely focuses on efficiency, and he assumes workers are rational. ariana is probably applying the ________ viewpoint.
Ariana is the type of manager who completely focuses on efficiency, and he assumes workers are rational. Ariana is probably applying the classical viewpoint.
Efficiency is the capacity to accomplish goals or obtain desired results without squandering time, money, resources, energy, or effort. It is the ability to complete activities successfully and efficiently in a more general sense. In more mathematical or scientific terms, it refers to the level of performance that uses the fewest inputs to provide the greatest quantity of output. It frequently particularly refers to the ability of a particular application of effort to deliver a particular output with the least amount of waste, expense, or superfluous work. Efficiency covers a wide range of inputs and outputs across numerous disciplines and sectors.
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taylor company had beginning inventory of $630 and ending inventory of $910. taylor company had cost of goods sold amounting to $2,390. what is the amount of inventory that was purchased during the period?
When Taylor company had beginning inventory of $630; ending inventory of $910, and costs of goods sold is equivalent to $2,390, the amount of inventory purchased during the period will be $2,670.
The cost of goods sold can be referred to or considered as the costs incurred by an accounting firm to be able to generate revenues through sales of its goods and services.
Cost of Goods Sold = Beginning inventory + Inventory Purchased - Ending Inventory
2390 = 630 + Amount of Inventory - 910
Amount of Inventory = 2390+910-630
Amount of Inventory = $2,670
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typically, instruct federal employees to take a specific action or implement a policy in a particular way.
Executive orders typically direct federal employees to take a specific action or to carry out a policy in a specific manner.
The policy is a purposeful set of rules intended to direct choices and produce logical outcomes. A policy is an intention that is carried out through a procedure or protocol. In most cases, an organization's governance body adopts policies.
A policy is a set of rules or guidelines that your organization and its employees must follow in order to comply. Policies provide answers to the questions of what employees do and why they do it.
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which of these is a measure summarizing the overall past performance of an investment? select one: a. dollar return b. percentage return c. average return d. market return
The measure that best summarize the overall past performance of an investment is an average return. The Option C is correct.
What is an average return?In finance, an average return refers to the mathematical average of a series of returns generated over a specified period of time. It is calculated the same way that a simple average is calculated for any set of numbers but the numbers are added together into a single sum, then the sum is divided by the count of the numbers in the set.
In essence, the average return tells an investor about the returns for a stock or security have been in the past or what the returns of a portfolio of companies are.
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The power supply unit converts power from a low DC current to a higher AC current.
A. True
B. False
Answer: False
Explanation:
Explanation:
false. power supply supplies power but does not convert current.
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which characteristic of the fraud triangle often stems from a lack of internal controls within an organization?
Answer: The answer is Opportunity
Explanation: Hope this was helpful
if the cost of a procedure or test increases and the quality stays the same, what happens to the value of the experience?
if the cost of a procedure or test increases and the quality stays the same, the value of the experience decreases.
When the cost of a procedure or a test is increased in the market, it should also improve the quality of the test or procedure.
If only the cost is improved but the quality of the procedure remains the same then there will be a decrease in the value of the total experience that made the test or procedure worthwhile.
In many cases, people do not mind paying heavy costs for a procedure or test, provided that the experience value is increased and the system is overall improved.
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