Gerald is answering questions about his age, level of education, and ethnicity on a questionnaire. These are all warm-up questions
Indicate whether the statement is true or false
FALSE
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Which one of the following statements best describes the concept of materiality?
A. Materiality is largely a matter of professional judgment. B. Materiality is determined by reference to specific quantitative guidelines established by the AICPA. C. Materiality depends on the nature of an item but not on the dollar amount of the item. D. Materiality depends only on the dollar amount of an item relative to other items in the financial statements.
When consumers need a(n) ________, price and product quality may be irrelevant to the purchase decision.
A. emergency product B. impulse product C. unsought product D. staple product E. shopping product
The fixed-weightings approach to asset allocation
A) is based on an allocation of an equal percentage of the portfolio to each separate asset category. B) requires periodic rebalancing of the portfolio to maintain the desired weights. C) is based on periodic adjustments to category weights in response to market changes. D) uses stock-index futures and bond futures in a market timing strategy.
If A and B are independent events with P(A) = 0.35 and P(B) = 0.55, then P(A|B) is 0.35/0.55 = .64
Indicate whether the statement is true or false