Discuss the extent to which US policy in Latin America in the late-nineteenth century and the first half of the twentieth century was representative of the tendency toward globalization and discuss the kind of globalization it represented.

share your thoughts on the Truman Doctrine and containment. Do you think this was effective? Should America have been more proactive against the Soviet Union? Were threats exaggerated?

What type of government do we have in the United States? Why is it effective? What are some of the theories of American democracy and fundamental American values?

Discuss American Exceptionalism. What makes the United States different from the rest of the world? What are the prevailing ideas of American freedom in the 21st Century?

To what extent was the American Revolution due to economic factors and concerns ? What specific British policies impact the American colonies and what was the magnitude of this impact ?

Based on your viewing of the module on International Trade, answer the following question:

If you buy an American car, is it truly an "American" car. Why or why not?

Which of the following is true?

Group of answer choices

For American options, the put-call parity result provides a lower bound but no upper bound for the difference between call and put prices.

For American options, the put-call parity result provides an upper bound but no lower bound for the difference between call and put prices.

For American options, the put-call parity result provides an upper bound and a lower bound for the difference between call and put prices.

Cash dividends are ignored in the put-call parity results for both European and American options because they do not affect option value.

Suppose the Federal Reserve (Fed) decides to sell $100 million in Treasury bills on the open market. Further suppose that the Fed’s order is matched with a buy order from a member of the non-bank public. Assume the non-bank public deposits half of the proceeds from the sale in its account at Bank of America and takes the other half as cash.

1. Using T-accounts, show what happens to the balance sheets of the non-bank public, Bank of America, and the Fed. Then, explicitly state rather the monetary base increased or decreased and by how much.
2. Next, show graphically the impact of this change in the monetary base on money supply and the federal funds rate.

Heraklion Co is a manufacturer of footballs and is a new audit client for your firm. You are an audit supervisor of Spinalonga & Co. and are currently preparing for the forthcoming interim and final audit for the year ending 31 October 2016. You are required to document and assess the sales system, recommend control improvements to deal with a specific fraud issue as well as undertake substantive testing of revenue.

Sales ordering, goods dispatched and invoicing

Heraklion Co sells footballs to a range of large and small sports equipment retailers in several countries. Sales are ma de through a network of sales staff employed by Heraklion Co, but new customer leads are generated through a third party company. Sales staff are responsible for assessing new customers' creditworthiness and proposing a credit limit which is then authorized by the sales director. The sales staff have monthly sales targets and are able to use their discretion in granting sales discounts up to a maximum of 10%. They then record any discount granted in the customer master data file.

The sales staff visit customer sites personally and orders are completed using a two-part pre-printed order form. One copy is left with the customer and the other copy is retained by the sales person. The sales order number is based on the sales person's own identification (ID) number.

The company markets itself on being able to dispatch all orders within three working days. Once the order is taken, the sales person emails the finance department and warehouse dispatch team with the customer ID and the sales order details and from this a pick list is generated. Sequentially numbered goods dispatched notes are completed and filed in the warehouse.

Sequentially numbered invoices are generated using the pick lists for quantities and the customer master data file for prices. Standard credit terms for customers are 30 days and on a monthly basis sales invoices which are over 90 days outstanding are notified to the relevant sales person to chase payment directly with the customer.

Required:

(a) Describe TWO methods for documenting the sales system, and for each explain ONE advantage and ONE disadvantage of using this method.      

(b) Identify and explain SEVEN deficiencies in the sales system of Heraklion Co and provide a recommendation to address each of these deficiencies.

Note: Prepare your answer using two columns headed Control deficiency and Control recommendation respectively.                                                                                                                                

(c)     Describe substantive procedures the auditor should perform to obtain sufficient and appropriate audit evidence in relation to Heraklion Co's revenue.