Complex audit judgments and decisions often involve accounts that require subjective estimates by management
a. True
b. False
Indicate whether the statement is true or false
True
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Consider a work center with a demand rate of 35 parts per hour and using a container that can hold 10 parts. It is estimated that the container takes 1 hour to cycle through the work cell. Assume a safety stock level of 20 percent. What is the maximum inventory level in this system?
a. 30 b. 40 c. 50 d. 60
Most new ventures need a human resource department from the first day of operations.
Answer the following statement true (T) or false (F)
In a local university, 10% of the students live in the dormitories. A random sample of 100 students is selected for a particular study. a.What is the probability that the sample proportion (the proportion living in the dormitories) is between 0.172 and 0.178?b.What is the probability that the sample proportion (the proportion living in the dormitories) is greater than 0.025?
What will be an ideal response?
Orville sends Percy a certified check for $5,000. Percy deposits the check into his account at Quantum Bank. The next business day, the bank confirms a $5,000 increase in Percy's account. He then wires Orville $500 for "fees." Later, the bank discovers that the check is counterfeit. On these facts, the bank can deduct from Percy's account
A. $5,500. B. $5,000. C. $500. D. 0.