Ideal standards are developed under conditions that assume no idle time, no machine breakdowns, and no materials spoilage
Indicate whether the statement is true or false
True
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All of the following statements are true except:
a. The criteria to determine whether a lease contract should be considered a capital lease are applied in a more rigid way under U.S. GAAP than IFRS. b. The criteria to determine whether a lease contract should be considered a capital lease are applied in a more rigid way under IFRS than U.S. GAAP. c. The lease criteria under IFRS are to be used as guidelines rather than rules. d. IFRS requires more accounting judgment than U.S. GAAP in the determination of whether a lease is classified as an operating lease or a capital lease.
The return on sales ratio is calculated by dividing
A) sales by cost of goods sold. B) gross profit by net sales. C) net income by stockholders' equity. D) net income by sales.
The accuracy of a labor standard is to be within ± 5%, and the confidence level is 95%. The standard deviation of the sample is 2 and the mean is 8. What sample size should be used?
A) 8 B) 10 C) 96 D) 127 E) 68
If A and B are mutually exclusive events with P(A) = 0.3 and P(B) = 0.5, then P(A ? B) =
a. 0.30. b. 0.15. c. 0.00. d. 0.20.