What is the probability that there are no vehicles in the system?
In a bank drive-through, there is a single service window and room only for two cars to line-up to wait for service. The mean time between arrivals for drive through customers is 5 minutes. The mean time to complete a customer transaction is 3 minutes. The number of arrivals is distributed according to a Poisson distribution and the service times are exponentially distributed.
Answer: P0 = .46
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The ________ account is a temporary account used only during the closing process
a. Drawing b. expense c. Income Summary d. revenue
From a customer's perspective, what are the skills and qualifications that service employees in both large and small organizations must possess? What may happen if service employees fail to possess these skills?
What will be an ideal response?
The Responsibilities section of the Principles Underlying an Audit Conducted in Accordance with GAAS states that auditors are responsible for having appropriate competence and:
A. independence with respect to the financial statements and supplementary disclosures. B. capabilities to perform the audit. C. exercising professional care as judged by peer reviewers. D. objectivity as an auditor as verified by proper supervision.
Regarding the Cost of Goods Sold account, which of the following statements is incorrect?
A) In a perpetual inventory system, the Cost of Goods Sold account keeps a current balance throughout the period. B) Cost of Goods sold is a contra revenue account. C) Cost of Goods Sold is based on the company's cost, not the retail price. D) Cost of Goods Sold represents the cost of inventory that has been sold to customers.