In order to determine an interval for the mean of a population with unknown standard deviation a sample of 61 items is selected. The mean of the sample is determined to be 23 . The number of degrees of freedom for reading the t value is
a. 22
b. 23
c. 60
d. 61
C
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Which of the following elements ultimately determines the amount of audit work that is necessary in the circumstances to afford a reasonable basis for an opinion?
A. Materiality. B. Auditor judgment. C. Relative risk. D. Reasonable assurance.
Sharon, a salesperson for a greeting card company, is responsible for sales in the northern part of California. Sharon's manager has decided to change Sharon's key account in the territory to a house account. Why would Sharon most likely dislike this decision?
A. Sharon will have to share commissions from the key account with the home office. B. Sharon will lose the commission for the key account. C. Sharon will be demoted from her position in the territory for losing the key account. D. Sharon will have to work from the firm's home office. E. Sharon will have to monitor the key account for less pay than she usually earns.
Under the basic Mazur plan, a buyer's duties include _____
a. controlling expenses and meeting departmental profit goals within his/her department b. providing staff services to all of the retailer's merchandising divisions c. operating all branch units d. being constantly on the sales floor to supervise selling personnel
Waltz Company reported its accounts receivable turnover ratio at 10 times. Its credit terms are 2/10, n/30. What does this ratio tell you about Waltz Company?