If a vendor has correctly used marginal analysis to select its stock levels for the day (as in the newsperson problem in the text), and if the profit resulting from the last unit being sold (Cu) is $0.90 and the loss resulting from that unit if it is not sold (Co) is $0.50, which of the following is the probability of the last unit being sold?
A. Greater than 0.357
B. Greater than 0.678
C. Greater than 0.400
D. Greater than 0.556
E. None of these
Answer: A
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The control plan ______________________________ assumes that there is a segregation of duties between the personnel who create vendor records and those that create and approve POs, record accounts payable, and approve payments
Fill in the blank(s) with correct word
The International Chamber of Commerce offers a permanent ________ tribunal
A) arbitration B) mediation C) summary jury D) mock jury
To bring a code of ethics to life, experts advocate a forceful, integrated approach to ethics. According to this, _____.
A. when people violate ethical norms, companies must respond publicly to retain employee trust B. top managers should not overcommunicate the importance of ethics C. ethics should be considered a separate unit and not be integrated into mandatory staff training D. managers should enforce strict laws against whistle-blowers
On December 1, Casualty Insurance Company borrowed $50,000 at a 6.0% interest rate from One Mutual Bank. The note payable plus interest will not be paid until April 1 of the following year. The company's annual accounting period ends on December 31 and adjustments are only made at year-end. The adjusting entry needed on December 31 is:
A. Debit Interest Expense, $1,000; credit Interest Payable, $1,000. B. Debit Interest Expense, $250; credit Note Payable, $250. C. Debit Interest Payable, $1,000; credit Interest Expense, $1,000. D. Debit Interest Expense, $250; credit Interest Payable, $250. E. No entry required.