Which of the following is not a key question a prospective buyer needs to ask in buying a business?
a. Why is the business being sold?
b. What is the owner's personal net worth?
c. How many of the employees will remain?
d. What type of competition exists?
ANSWER: b
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Which of the following is a product/service that is high in credence qualities?
A) medical diagnosis B) clothing C) vacation D) automobiles
Which of the following is NOT a way in which process and job order cost systems are similar?
A) Both accumulate product costs--direct materials, direct labor, and factory overhead B) Both allocate product cost to units produced C) Both maintain perpetual inventories D) Both use job order cost cards
Which of the following is not an external event?
A) A grocery store recognizes losses from spoilage. B) A grocery store runs ads in a local newspaper. C) A grocery store purchases produce from a local farmer. D) A grocery store sells groceries to customers on credit.
If the coefficient of determination is .90, the percentage of variation in the dependent variable explained by the variation in the independent variable is
a. .90%. b. 90%. c. 81%. d. .81%.