In the past 20 years or so, many employers have shifted from defined-benefit to defined-contribution retirement plans
Indicate whether the statement is true or false.
Answer: TRUE
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The random variable x is the number of occurrences of an event over an interval of ten minutes. It can be assumed that the probability of an occurrence is the same in any two time periods of an equal length. It is known that the mean number of occurrences in ten minutes is 5.3. The appropriate probability distribution for the random variable is
A. discrete. B. continuous. C. either discrete or continuous depending on how the interval is defined. D. binomial.
An example of an unusual item affecting the prior period's income statement is the correction of an error in the financial statements of a previous year
Indicate whether the statement is true or false
Process costing systems use separate Work in Process Inventory accounts for each process.
Answer the following statement true (T) or false (F)
When fixed costs are part of a firm's cost structure, the percent of sales method will understate net
income and overstate discretionary financing needed, if sales are increasing. Indicate whether the statement is true or false