Which of the following is not a characteristic of the normal probability distribution?
a. symmetry
b. The total area under the curve is always equal to 1.
c. 99.72% of the time the random variable assumes a value within plus or minus 1 standard deviation of its mean
d. The mean is equal to the median, which is also equal to the mode.
C
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According to COSO ERM, which of the following is not one of the bases that should be used to analyze the risks of an identified event?
A. Control risk. B. Inherent risk. C. Residual risk. D. Organizational risk.
The choice of being an entrepreneur rather than a paid employee requires consideration of ______, which represents the risk of giving up dependable salary and benefits for potential profits, which are not assured.
a. opportunity cost b. compensatory balance c. innovator’s dilemma d. risk aversion
Which of the following formulas would be used to determine the inventory turnover ratio?
A) Net credit sales / Average inventory B) Average inventory / Net credit sales C) Cost of good sold /Average inventory D) Average inventory / Cost of good sold
________ float results from the lapse between the time when a firm deducts a payment from its checking account ledger and the time when funds are actually withdrawn from its account
A) Mail B) Processing C) Collection D) Disbursement