Random number intervals are based on cumulative probability distributions
Indicate whether the statement is true or false
TRUE
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Which phase of the audit opinion formulation process is most commonly thought of as auditing by the general public?
a. Performing risk assessment. b. Obtaining evidence about internal controls. c. Obtaining substantive evidence about accounts. d. Making reporting decisions..
Which of the following is an example of trade promotion?
A) manufacturers offering regular value-for-money deals to attract thrifty and value-conscious customers B) salespeople engaging in door-to-door selling activities C) manufacturers offering free merchandise to resellers who feature a certain flavor or size D) advertisers claiming that a certain product is the best in the market E) marketers selling specialty products to a small segment of customers with unique preferences
A typical newspaper company in the early part of the 20th century might employ both printers and "newsies" (young men and boys who sold the papers). Which of the following best illustrates the AFL's concept of exclusive jurisdiction?
A. One union should represent both the printers and newsies. B. One union should represent the printers but could also represent other workers, say shoemakers at a local shoemaking company. C. One union should represent the printers and only the printers while another union should represent the newsies (and only the newsies). D. The printers are represented by both the printers' union and the newsies' union.
Weston Company had the following stock investments with insignificant influence in its portfolio at December 31, Year 1. Weston had several investment transactions during year 2.(1) Determine the amount Weston should report on its December 31, Year 1 balance sheet for its stock investments.(2) Determine the amount Weston should report on its December 31, Year 2 balance sheet for its stock investments.(3) Prepare the necessary adjusting entry to record the fair value adjustment at December 31, Year 2.Stock InvestmentsCostFair Value40,000 shares of Beach common stock$ 497,500$ 488,90015,000 shares of Danfield common stock410,200412,60018,000 shares of Cardinal common stock399,600382,500Jan. 22Sold 9,000 shares of Cardinal common stock for $202,150. Nov. 01Purchased 12,000 shares of Cliff
common stock for $223,950. The shares represent a 10% ownership.Dec. 31At December 31, Year 2, the fair values of its investments are: Beach, $502,500; Danfield, $411,800; Cardinal, $203,100; Cliff, $224,750. What will be an ideal response?