A discrete random variable is a variable whose outcomes take on numerical values ______.
a. that can be counted
b. that are continuous
c. that are binary
d. that are negative
a. that can be counted
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PCAOB auditing standards must be followed on all financial statement audits performed in the U.S.
Answer the following statement true (T) or false (F)
Vincent Company purchased merchandise from Liu Company with an invoice price of $300,000 and credit terms of 2/10, n/30. Liu Company's cost for the merchandise was $200,000. Vincent Company paid within the discount period. Assume that both buyer and seller use a perpetual inventory system and the gross method of recording invoices.1. Prepare entries that Vincent should record for (a) the purchase and (b) the cash payment.2. Prepare entries that Liu should record for (a) the sale and (b) the cash collection.3. Assume that the buyer borrowed enough cash to pay the balance on the last day of the discount period at an annual interest rate of 9% and paid it back on the last day of the credit period. Compute how much the buyer saved by following this strategy. (Assume a 365-day year and round
dollar amounts to the nearest cent.) What will be an ideal response?
The newest theory of leadership is Great-man theory.
a. True b. False
The goal of inventory management is to:
a. minimize inventory levels while maintaining an adequate supply of goods to meet customer demands. b. maintain the highest possible inventory of raw materials and finished goods as buffer stocks. c. act as an alternative to supply chain management in firms. d. create regular customer stockouts so that the demand for products increases.