A university was interested in student reaction to a proposal to spend more on athletic
scholarships and less on academic scholarships. 35 student athletes were surveyed. What type of
problem has occurred?
A) measurement error B) selection bias C) nonresponse bias
B
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The Beaver Study indicated the following ratio (ratios) to be the best for forecasting financial failure:
a. cash flow/total debt. b. net income/total assets. c. total debt/total assets. d. cash flow/total debt and net income/total assets. e. all of the answers are correct.
Universalists believe that ______.
a. the universe is continually expanding b. despite the importance of diversity, people are all, basically, the same c. there are certain principles or values that hold true across all contexts d. business should be conducted the same way everywhere
External auditors examine financial statements to verify that they are prepared according to generally accepted accounting principles.
Answer the following statement true (T) or false (F)
Knapper Kennel uses tenant-days as its measure of activity; an animal housed in the kennel for one day is counted as one tenant-day. During January, the kennel budgeted for 2,700 tenant-days, but its actual level of activity was 2,740 tenant-days. The kennel has provided the following data concerning the formulas to be used in its budgeting: Fixed Element per MonthVariable element per tenant-dayRevenue - $37.00 Wages and salaries$3,800 $6.10Food and supplies 900 14.90Facility expenses 9,700 4.80Administrative expenses 6,600 0.10Total expenses$21,000 $25.90?The net operating income in the flexible budget for January would be closest to:
A. $8,970 B. $9,414 C. $8,600 D. $8,350