The usual purpose of an R-chart is to signal whether there has been a:
A) gain or loss in dispersion.
B) change in the percent defective in a sample.
C) change in the central tendency of the process output.
D) change in the number of defects in a sample.
E) change in the consumer's risk.
A
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The following set of items describes activities completed by a company in collecting cash for merchandise sales. For each activity, identify whether or not the activity adheres to or violates sound internal control procedures. A single employee in the mailroom opens the mail, counts the money received, and prepares a control list of the amount received
a. Adheres to sound internal control procedures b. Violates sound internal control procedures c. Neither strengthens nor violates internal control
If scope limitations that are not client-imposed exist make it impossible for the auditor to form an opinion, the auditor should render an adverse opinion
a. True b. False Indicate whether the statement is true or false
Myron had two children, Cheryl and Pete, who predeceased him. Cheryl had three children and Pete had one child. Myron had a will. Which of the following is true?
A) If Myron's will indicates that the issue are to inherit per stirpes, Pete's child will receive one half of Myron's estate. B) If Myron's will indicates that the issue are to inherit per stirpes, Pete's child will receive one fourth of Myron's estate. C) If Myron's will indicates that the issue are to inherit per capita, Pete's child will receive one half of Myron's estate. D) If Myron's will indicates the issue are to inherit per capita, each of Cheryl's children will receive one sixth of Myron's estate.
For a quick check of a firm's short-term financial health, examine its:
A) working capital. B) gross margin. C) long-term debt. D) cost of sales.