What is the AOQ of an acceptance sampling plan?
What will be an ideal response?
The AOQ is the average outgoing quality. It is the percentage defective in an average lot of goods inspected through acceptance sampling.
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When a corporation discontinues a segment of its operations at a loss, the loss should be reported as a separate item after income from continuing operations on the income statement
a. True b. False Indicate whether the statement is true or false
Delaware Inc incurred the following costs in October, 2014, for producing 5,000 good units of personalized photo frames. Direct materials $ 15,000 Direct labor 10,000 Overhead applied 13,500 The company sold 4,500 units. Determine the product unit cost of photo frames
A) $8.56 B) $7.70 C) $5.00 D) $5.56
For tax purposes a life insurance dividend is considered
A) a partial return of premium and is therefore not taxed. B) the same as a stock dividend. C) the same as a capital gain. D) an adjustment to gross income.
Answer the following statement(s) true (T) or false (F)
Sales records are of very little value to a buyer in evaluating a company's worth.