In a monetary-unit sampling plan, the upper misstatement limit is $11,200 and the risk of incorrect acceptance is 5%. This means that:
A. there is a 95% chance that the actual misstatement in the account is $11,200 or more.
B. there is a 95% chance that the actual misstatement in the account is $11,200 or less.
C. there is a 95% chance that the actual misstatement in the account is $11,200.
D. tolerable misstatement is $11,200.
Answer: B
You might also like to view...
______ prohibits the use of genetic information in employment, prohibits intentional acquisition of genetic information, and imposes confidentiality requirements.
A. Veterans Benefits Improvement Act of 2004 B. Rehabilitation Act C. Americans with Disabilities Act D. Genetic Information Nondiscrimination Act of 2008
A satisfied worker is not necessarily more productive than a dissatisfied one.
Answer the following statement true (T) or false (F)
You are least likely to favor added points over a higher contract rate if you are
A) likely to move in a few years. B) a high income individual. C) likely to remain in the home for the duration of the mortgage. D) a low income individual.
An x-bar control chart was examined and no data points fell outside of the limits. Can this process be considered in control?
A) Not yet, there could be a pattern to the points. B) Not yet, the R-chart must be checked. C) Not yet, the number of samples must be known. D) Yes. E) Both A and B