Which of the following sets just-in-time systems apart from traditional manufacturing systems?
A. Cost of goods sold is not calculated.
B. It can be used in conjunction with activity based costing.
C. Materials are purchased only as they are needed to manufacture goods.
D. Cost of goods sold includes all manufacturing cost.
Answer: C
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Multicollinearity is a(n):
A. situation in which several independent variables are highly correlated with each other. B. statistical procedure that estimates regression equation coefficients which produce the lowest sum of squared differences between the actual and predicted values of the dependent variable. C. statistical technique which analyzes the linear relationship between a dependent variable and multiple independent variables by estimating coefficients for the equation for a straight line. D. statistic that compares the amount of variation in the dependent measure "explained" or associated with the independent variables to the "unexplained" or error variance. E. estimated regression coefficient that has been recalculated to have a mean of zero and a standard deviation of 1.
Which of the following is a difference between the Uniform Computer Information Transaction Act (UCITA) and Uniform Commercial Code (UCC)?
A) A contract that requires a fee of less than $250 is enforceable under the UCITA only if the contract has been authenticated, whereas all contracts are enforceable under the UCC. B) A contract that requires a fee of less than $250 is enforceable under the UCC only if the contract has been authenticated, whereas all contracts are enforceable under the UCITA. C) The UCITA allows the licensor to control the licensee's right of use, but the UCC does not. D) The UCC allows the licensor to control the licensee's right of use, but the UCITA does not.
In which of the following situations have both parties given consideration to support a contract?
A) Pat, because of the great job that a contractor did in building an addition onto her house last year, promises to give the contractor an extra $1,000. B) Pat promises to give her mother $100 per month for the next ten years for all the work that her mother did in raising Pat. C) Pat, an accounting professor, agrees to tutor one of her students in the study of French for $10.00 per hour. D) Pat, a police officer, agrees to patrol someone's neighborhood while on duty for $100 a week.
Which of the following is true of a 99.9% defect rate?
a. one incorrect surgical procedure every 10 years b. two landing errors at major airports every day c. one aircraft landing in a cornfield each week d. one correct surgical procedure every year