Descriptions of cost behavior as fixed or variable pertain to a particular range of activity.
Answer the following statement true (T) or false (F)
True
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In a voucher system, the data flow between the originating department and the process "prepare disbursement voucher" typically is:
a. the disbursement voucher b. the payment notification c. the payment request d. the check
Data determination is one of the three general steps that should be followed when analyzing qualitative data
Indicate whether the statement is true or false
As a general rule, an oral security agreement is legally enforceable.
Answer the following statement true (T) or false (F)
A local computer store is running a sale on the first 99 flat panel monitors sold. There is an equally likely chance of 0-99 units being sold. Each monitor cost $250, and profit is $10 per monitor sold
That is, profit equals -$250 + $10X, where X = the number of monitors sold. The mean amount you would expect to sell is 49.5 units. (a) Calculate the expected profit. (b) Simulate the sale of 10 items, using the following double digit random numbers: 47, 77, 98, 11, 02, 18, 31, 20, 32, 90. (c) Calculate the average profit in (b) above, and compare with the results of (a) above.