A ________ sample does not represent the intended population and can lead to distorted findings
A) random
B) probability
C) biased
D) stratified
C
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If a company makes a prior period adjustment, which of the following describes how it must be reported?
A) The adjustment is recorded in retained earnings, and previous years' financial statements presented for comparative purposes are not changed. B) The adjustment is recorded in retained earnings, and previous years' financial statements presented for comparative purposes are adjusted. C) The adjustment is reported in the current period's income statement as a separate item. D) The adjustment is recorded as a deferred asset or deferred liability and amortized using the straight-line method.
The amount of the net income for a period appears on both the income statement and the balance sheet for that period
Indicate whether the statement is true or false
Inspired by his trip to Greece, the gentleman farmer decided he needed a Mykonos-style windmill pumping a pond for his sheep and orchard. His earned value table for the project appears below
At the end of June, what was the estimated time to completion and the estimated cumulative cost to completion? Activity Jan Feb Mar Apr May Jun Jul Plan % Complete Earned Value Grading 500 150 650 100% 650 Footings 200 150 350 100% 350 Foundation 800 300 1,100 80% 880 Masonry 300 300 200 800 70% 560 Interior 700 2,000 2,700 50% 1,350 Pump Install 3,000 3,000 40% 1,200 Painting 350 400 750 25% 188 Monthly Plan 500 350 950 600 1,000 2,550 3,400 9,350 5,178 Cumulative 500 850 1,800 2,400 3,400 5,950 9,350 Monthly Actual 600 400 900 800 800 2,800 0 Cumulative Actual 600 1,000 1,900 2,700 3,500 6,300
A debtor must sign a written security agreement for a pledge used to secure a loan
Indicate whether the statement is true or false