The mean absolute deviation is used to:
A. eliminate forecast errors.
B. measure forecast accuracy.
C. seasonally adjust the forecast.
D. estimate the trend line.
E. All of the answers choices are correct.
Answer: B
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Which of the following might be detected by an auditor's review of the entity's sales cutoff?
A. Excessive goods returned for credit. B. Lapping of year-end accounts receivable. C. Unrecorded sales discounts. D. Overstated sales for the year.
The number of authorized shares of stock may be less than the number of outstanding shares
Indicate whether the statement is true or false
A firm has determined that its optimal EOQ ordering quantity is 1,250 units for a certain product. Average daily demand is 90 units with a standard deviation of 8 units. Order lead time is 7 days. To maintain a 95% service level, what should the target inventory level be?
a. 1,250 b. 1,940 c. More than 2,000 d. Target inventory level cannot be determined from the information given
What are the correct monthly rates for calculating failure to file and failure to pay penalties?
A.
| Failure to file | Failure to pay |
| 0.5% | 5.0% |
B.
| Failure to file | Failure to pay |
| 5.0% | 5.0% |
C.
| Failure to file | Failure to pay |
| 5.0% | 0.5% |
D.
| Failure to file | Failure to pay |
| 0.5% | 0.5% |