A cost accountant wished to establish the average amount, ?, spent by executives per day on travel and lodging. Then a comparison, between the average and the amount turned in to be reimbursed, will be made and unreasonably high or low expense amounts

audited. A random sample of 50 executive expense receipts is taken. The average in the sample was $208 . From a similar survey the standard deviation of the amounts is approximately ? = $29 . The accountant prepares a 90-percent confidence level for ?. How would the auditor use these data to determine if an audit should be conducted?


Any observation, which is outside this interval, should be audited.

Business

You might also like to view...

The best practice formula for writing personal goals is from X to Y by Z. X represents the _____________ of the goal.

a. current level b. future level c. due date d. urgency level

Business

On July 10, Pet Supply Store orders fifty small dog collars from Quality Collars, Inc to be delivered by July 15 . On July 13, Quality Collars tenders fifty large dog collars. Pet Supply rejects the shipment. Quality Collars has

a. no right to cure. b. until July 15 to cure. c. until the end of the business day on July 13 to cure. d. unlimited time to cure.

Business

Which of the following is not one of the Parliament's powers?

A) Serve as consultative body (to council) on legislative proposals B) To censure the commission C) Elect representatives to the commission D) All are assembly powers

Business

Strict liability in tort rule in product injury cases is described in:

a. the Bill of Rights b. the Constitution c. the Second Amendment of the U.S. Constitution d. the Final Restatement of Torts Sect. 412A e. none of the other choices are correct

Business