The key phrase in the definition of reliability is______.
a. probability that a component, product, or system can perform its function
b. under a given set of normal operating conditions of its use
c. perform its intended function
d. conditions of use
b. under a given set of normal operating conditions of its use
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Sharing your thoughts and needs indirectly or not at all is called
A) aggressive B) assertive C) non-assertive D) supportive
Which of the following statements is true regarding horizontal analysis?
a. Horizontal analysis can only be used with balance sheet accounts. b. Horizontal analysis can only be used with income statement accounts. c. Horizontal analysis can only be used with retained earnings accounts. d. Time series analysis is an advanced statistical technique for horizontal analysis.
Which of the following is a key element of internal control over cash payments?
A) periodically reconciling the cash account balance on the company's books to the bank statement balance B) making daily bank deposits C) requiring that all petty cash vouchers be approved by two signatures D) authorizing and verifying that all cash received is recorded daily
Landers Company has 9 units in inventory on December 31. The units were purchased in November for $180 each. The price lists from suppliers indicate the current replacement cost of the item to be $178 each. What is the effect on gross profit if Landers values its ending merchandise inventory using the lower-of-cost-or-market rule?
A) The gross profit would increase by $2. B) The gross profit would not be affected. C) The gross profit would decrease by $18. D) The gross profit would increase by $18.