Non-parametric tests are hypothesis testing procedures that assume the variables of interest are measured on at least an interval scale
Indicate whether the statement is true or false
FALSE
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As a result of analytical procedures conducted during the planning phase, the independent auditor determines that the gross profit percentage has declined from 30% in the preceding year to 20% in the current year. The auditor should:
A. Express an opinion that is qualified due to the inability of the company to continue as a going concern. B. Consider the possibility of an error in the financial statements. C. Evaluate management's performance in causing this decline. D. Require footnote disclosure.
While reconciling the checking account, an accountant with Sonic Corporation noticed that an error had been made in recording a check received by the company. Sonic recorded the receipt as $729 and the correct amount of the check was $279 . What reconciling adjustment is required?
a. Add $450 to the company's book balance b. Deduct $450 from the company's book balance c. Add $450 to the bank statement balance d. Deduct $450 from the bank statement balance
Which of the following statements is CORRECT?
A. Other things held constant, a callable bond should have a lower yield to maturity than a noncallable bond. B. Once a firm declares bankruptcy, it must then be liquidated by the trustee, who uses the proceeds to pay bondholders, unpaid wages, taxes, and lawyer fees. C. Income bonds must pay interest only if the company earns the interest. Thus, these securities cannot bankrupt a company prior to their maturity, and this makes them safer to the issuing corporation than "regular" bonds. D. A firm with a sinking fund that gave it the choice of calling the required bonds at par or buying the bonds in the open market would generally choose the open market purchase if the coupon rate exceeded the going interest rate. E. One disadvantage of zero coupon bonds is that the issuing firm cannot realize any tax savings from the debt until the bonds mature.
Which of the following fields of business analytics uses past data to create models that predict the future?
a. Databases and data warehouses b. Descriptive analytics c. Predictive analytics d. Prescriptive analytics