Which of the following variables uses the interval scale of measurement?
a. Standardized test score
b. Time duration
c. Student ID number
d. Vehicle miles-per-gallon
a
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An accounting system that maintains an adequate audit trail is implementing which internal control procedure?
a. access controls b. segregation of functions c. independent verification d. accounting records
Which of the following should be considered first in applying the matching concept?
a. Costs should be matched against the revenue directly produced. b. Costs should be matched to revenue in a rational and systematic manner. c. Costs should be recognized as period expenses when incurred. d. Costs should be recognized as expenses when cash is paid.
Wireless LANs facilitate the interconnection of devices up to 50 feet away from the transmitter
Indicate whether the statement is true or false.
Average daily sales of a product are 8 units. The actual number of sales each day is either 7, 8, or 9, with probabilities 0.3, 0.4, and 0.3, respectively
The lead time for delivery of this averages 4 days, although the time may be 3, 4, or 5 days, with probabilities 0.2, 0.6, and 0.2. The company plans to place an order when the inventory level drops to 32 units (based on the average demand and average lead time). The following random numbers have been generated: 60, 87, 46, 63 (set 1 ) and 52, 78, 13, 06, 99, 98, 80, 09, 67, 89, 45 (set 2 ). Use set 1 of these to generate lead times and use set 2 to simulate daily demand. Simulate 2 ordering periods with this and determine how often the company runs out of stock before the shipment arrives. Assume 32 units on-hand and an order was just placed.