Failure to record depreciation expense for the period results in which of the following?
a. Net income being overstated
b. No effect on total assets
c. Stockholders' equity being overstated
d. Both a and c above
d
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How do the tests of controls affect substantive tests?
Ritzer argues that all aspects of our world are being rationalized through McDonaldization via four major mechanisms. One of those is the process of ‘Efficiency’, which of the following is an example of such a mechanism?
a. Using an explicitly stated and pre-programmed script so staff can quickly deal with customers b. Ensuring means of production – from produce through to staff – are of a minimal cost c. Using standardized procedures and machinery to produce standardized products and services so customers know what they are going to get irrespective of where or when they buy it d. Ensuring everyone wears the uniform, smiles at the customer and is extensively trained to ensure they stick to the pre-programmed script
In synthesization, decision alternatives are prioritized within each criterion
Indicate whether this statement is true or false.
On average, how many machines are waiting in line to be fixed?
In a factory, machines breakdown at an average of 6 machines per hour according to a Poisson distribution. The time a repair person takes to repair the machine is not defined by any probability distribution, but has a mean of 8 minutes and a standard deviation of 3 minutes.