Systems analysis involves all of the following except
a. gathering facts
b. surveying the current system
c. redesigning bottleneck activities
d. reviewing key documents
C
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A properly designed internal control system:
A. Is not necessary if the company uses a computerized system. B. Lowers the company's risk of loss. C. Requires the use of non-computerized systems. D. Eliminates the need for an audit. E. Insures profitable operations.
A corporation whose stock is traded on at least one national securities exchange is known as a(n) ________ corporation
A) private B) publicly held C) closely held D) eleemosynary
A population has a mean of 60 and a standard deviation of 18. A sample of 81 observations will be taken. The probability that the sample mean will be larger than 64 is
A. 0.5228. B. 0.9772. C. 0.4772. D. 0.0228.
Carrington, Inc. began business at the start of the current year and maintains its accounting records on an absorption-cost basis. The following selected information appeared on the company's income statement and end-of-year balance sheet:Income Statement data:? Sales revenues (35,000 units × $22)$770,000 Gross margin210,000 Total sales and administrative expenses160,000Balance sheet data:? Ending finished goods inventory (12,000 units)192,000Carrington achieved its planned production level for the year. The company's fixed manufacturing overhead totaled $141,000, and the firm paid a 10% commission based on gross sales dollars to its sales force.Required: A. How many units did Carrington plan to produce during the year?B. How much fixed manufacturing overhead did
the company apply to each unit produced?C. Compute Carrington's cost of goods sold.D. How much variable cost did the company attach to each unit manufactured? What will be an ideal response?