For a set of data, the mean is 50 and the standard deviation is 10 . In the raw data, one of the observations is equal to 74 . After the data are standardized, what will be the standardized value of this observation?
a. +7.4
b. -7.4
c. +2.4
d. -2.4
C
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Which one of the following best defines an external event in terms of accounting?
a. A measured event that must be recognized. b. An event recognized in a set of financial statements. c. A happening of consequence to an entity. d. An interaction between an entity and its environment.
Cost of goods sold represents
a. Expired costs during a period and is reported on the income statement. b. Unexpired costs and is reported on the balance sheet as an asset. c. The cost of goods that will be purchased during the next operating cycle and is reported on the balance sheet as an asset. d. Expired costs and is reported on the balance sheet as an expense.
The type of product costing system used by a company is dictated by the
A) cost flow assumptions made by the company. B) production process of the product. C) inventory system used by the company. D) selling price of the product.
The Evaluation Wizard website includes eight groups of evaluation questions. The three most critical groups are—
a. author, evidence, and links to this page b. author, objectivity, and date c. author, accuracy and links from this page d. publisher, date, and evidence