A principal may be liable for the torts committed by an agent according to the doctrine of ________
A) non-delegation
B) respondeat superior
C) res ipsa loquitur
D) negligence per se
B
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Rewards given as contest prizes to brokers, retail salespeople, retail stores, wholesalers, or agents would be considered a:
A) trade allowance B) trade contest C) cooperative merchandise agreement D) drop-ship allowance
Because they are based on existing knowledge and capabilities, which type of change is most often accomplished within existing organization structures?
a. reactive b. proactive c. incremental d. discontinuous
Congress has made it a federal crime to engage in the extortionate extension of credit
a. True b. False Indicate whether the statement is true or false
The auditors are using mean-per-unit sampling to evaluate the reasonableness of the book value of the accounts receivable of Smith, Inc. Smith has 10,000 receivable accounts with a total book value of $800,000. The auditors estimate the population's standard deviation as being equal to $25. After examining the overall audit plan, the auditors believe that the account's tolerable misstatement is $40,000, and that a risk of incorrect rejection of .10 (risk coefficient = 1.64) and a risk of incorrect acceptance of .15 (risk coefficient = 1.04) should be used.Required:a. Calculate the required sample size.Now ignore your sample size calculation in part "a," and assume that your answer was a sample size of 289 (the square root of 289 is 17) and that you obtained the following results:Average
audited value of items in sample: $76.50Average book value of items in sample: $78Standard Deviation in the sample (audited values): $24Standard Deviation in the sample (book values): $26b. Using mean-per-unit sampling, calculate the projected misstatement for the population.c. Using mean-per-unit sampling, calculate the allowance for sampling risk and use it to form a statistical conclusion concerning the book value of the population ($800,000). That is, calculate an interval and either "accept" or "reject" the client's book value. What will be an ideal response?