If a model contains uncertain outputs, it can be very misleading to build a deterministic model by using the means of the inputs to predict an output. This is called the:
a. Law of Large Numbers
b. Flaw of Averages
c. Law of Inevitable Disappointment
d. Central Limit Theorem
b
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Which one of the following statements regarding internal control is true?
a. Companies can design a system of internal control that is foolproof. b. A well-designed internal control system is a luxury that few companies can afford. c. It is easier to implement an effective internal control system in a small company because of the limited number of employees. d. Large companies are able to devote a substantial amount of resources to internal control systems because these companies have the assets to justify the cost.
Explain how transactions are audited in an electronic data interchange environment
Which statement below is not a determinate in calculating the amount of federal income taxes withheld from an individuals pay?
A) filing status B) types of earnings C) gross pay D) number of exemptions
MetaRay, Inc, and Nucleo Corporation are the only suppliers in their market. They agree to coordinate their production so as to limit output and charge a higher price. Under the Sherman Antitrust Act of 1890, this is
a. a permissible restraint of trade. b. a prohibited restraint of trade. c. not a restraint of trade and permitted. d. not a restraint of trade but prohibited.