A contract to discriminate against somebody on the basis of race is illegal because it usually
violates state and/or federal statutes; if not, it is illegal as being contrary to public policy.
Indicate whether the statement is true or false
TRUE
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Checks returned by a bank because customers did not have sufficient funds in their account are called
a. Canceled checks b. Certified checks c. NSF checks d. Outstanding checks
Tessa won the lottery for $2,500,000 but due to a change in state laws she will not be able to collect it for three years. Ralph is willing to give her a lump sum today in return for the payment in three years. If current interest rates are 14% per year, how much will Tessa receive today?
A) $1,687,430 B) $5,804,080 C) $2,500,000 D) $3,703,860
Which of the following occurs when, based on sample results, control risk is assessed excessively high?
a. Audit inefficiency. b. A less expensive audit. c. Reduction of substantive testing. d. Errors that are more likely to occur than anticipated.
Which of the following factors DOES NOT need to be specified when using a statistical package to determine the appropriate sample size for a research study?
A) precision level B) confidence level C) population standard deviation D) population demographics E) C and D