The U. S. Supreme Court was created by:
a. the Constitution
b. vote of 2/3 of the states
c. vote of a majority of the states
d. the President with the approval of the Senate
e. the President with the approval of both houses of Congress
a
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Which of the following is a key characteristic of a probability sample that determines the sample size of a population?
A) the number of chances a result occurs as planned B) the permissible sample error that can be allowed C) the inability to statistically project the results to the entire population D) the similarity in the sample characteristics being measured
Auditors usually perform relatively limited substantive analytics for cash accounts and instead focus on substantive tests of details
a. True b. False Indicate whether the statement is true or false
Janko Wellspring Inc. has a pump with a book value of $24,000 and a four-year remaining life. A new, more efficient pump, is available at a cost of $45,000. Janko can also receive $8,000 for trading in the old pump. The new pump will reduce variable costs by $10,000 per year over its four-year life. The costs not relevant to the decision of whether or not to replace the pump are:
A. $40,000. B. $8,000. C. $10,000. D. $16,000. E. $24,000.
McCoy Brothers manufactures and sells two products, A and Z in the ratio of 5:2. Product A sells for $75; Z sells for $95. Variable costs for product A are $35; for Z $40. Fixed costs are $418,500. Compute the number of units of Product A McCoy must sell to break even.
A. 6,200. B. 1,350. C. 10,463. D. 6,750. E. 2,700.