Which of the following is a common error that hinders the accurate interpretation of data?
A. Interpreting results from a large sample
B. Tabulating a questionnaire with many items
C. Basing a conclusion on lack of evidence
D. Applying statistical analysis
Answer: C
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The Miller family, who operates a musical instrument manufacturing concern, has decided to incorporate. The three (3 ) members of the Miller family, Mary, Mark and Sue, would like to become a corporation and obtain limited liability; however, taxation
at the corporate level would be very costly for them. If possible, Mary Miller would rather be taxed as a partnership. Mark Miller is worried about the additional paperwork and meetings that incorporation would surely bring. Sue Miller does not want a large board of directors to be formed. Sue fears that the board would somehow detract from the family goals and orientation the business has always enjoyed. In light of these concerns, is there a corporate form that would better suit the Miller family?
Lana is a CPA and works as an internal auditor for Dynamite, Inc. As she was performing a revenue timing test, for the internal audit schedule and the external auditors, she noticed that the Western division consistently kept the books open 4 days into the next quarter. Lana immediately reported to the Chief Internal Auditor; together they took the issue to the CFO and Controller. The CFO assured them that the issue would be resolved. It has been 90 days since the meeting. Lana is considering blowing the whistle but cannot decide who to tell and when.What are the ethical issues of concern for Lana? What would you advise Lana to do, how, to whom and in what order, assuming she could qualify for a reward under Dodd-Frank?
What will be an ideal response?
Which of the following statements is not required for pension trust funds?
A. Statement of Fiduciary Cash Flows. B. Statement of Changes in Fiduciary Net Position. C. Statement of Fiduciary Net Position. D. None of the above; all three statements should be prepared for pension-trust funds.
According to Hersey and Blanchard's situational leadership model, which of the following leadership style uses low directiveness and high supportiveness?
A. Telling B. Delegating C. Participating D. Selling