All the employees of ABC Company are assigned ID numbers. The ID number consists of the first letter of an employee's last name, followed by four numbers.
a.How many possible different ID numbers are there?b.How many possible different ID numbers are there for employees whose last name starts with an A?
What will be an ideal response?
| a. | 260,000 |
| b. | 10,000 |
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On September 12, Ryan Company sold merchandise in the amount of $5,800 to Johnson Company, with credit terms of 2/10, n/30. The cost of the items sold is $4,000. Ryan uses the periodic inventory system and the net method of accounting for sales. On September 14, Johnson returns some of the merchandise. The selling price of the merchandise is $500 and the cost of the merchandise returned is $350. Johnson pays the invoice on September 18, and takes the appropriate discount. The journal entry that Ryan makes on September 18 is:
A.
| Cash | 5,194 | |
| Accounts receivable | 5,194 |
B.
| Cash | 5,800 | |
| Accounts receivable | 5,800 |
C.
| Cash | 5,194 | |
| Sales discounts | 106 | |
| Accounts receivable | 5,300 |
D.
| Cash | 5,684 | |
| Sales discounts | 116 | |
| Accounts receivable | 5,800 |
E.
| Cash | 5,684 | |
| Accounts receivable | 5,684 |
Answer the following statement(s) true (T) or false (F)
1. When Maytag emphasizes durability and reliability of their products it is using a non price competition strategy designed to build brand loyalty. 2. For most products, as the quantity demanded goes up, price goes up also. 3. The equilibrium point occurs when all units of a product are sold at the highest price, meeting the expectations of both buyers and sellers. 4. The standard markup for products in almost all industries is 50 percent. 5. The purpose of break even analysis is to determine the equilibrium point.
For the multiple regression model y = 50 + 25x1 - 10x2 + 8x3 . if x2 were to increase by 5, holding x1 and x3 constant, the value of y would:
a. increase by 5. b. increase by 50. c. decrease on average by 5. d. decrease on average by 50.
It is known that the variance of a population equals 1,936 . A random sample of 121 has been taken from the population. There is a .95 probability that the sample mean will provide a margin of error of
a. 7.84 b. 31.36 c. 344.96 d. 1,936