Private industrial networks are usually owned collectively by the major firms participating in the network, while exchanges usually are created by a single sponsoring company.
Answer the following statement true (T) or false (F)
False
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The risk of a material misstatement includes inherent risk and sampling risk.
Answer the following statement true (T) or false (F)
The production manager of a company, in an effort to gain a promotion, negotiated a new labor contract with the factory employees that required them to bear a greater percentage of benefit costs than before, thus bringing down the cost of direct labor to the company. Shortly afterward, several experienced and highly skilled workers resigned and were replaced by new employees whose work was very slow during their training period. At the end of the quarter, the company's profits fell 10%. This would produce a(n) ________.
A) favorable direct materials cost variance B) unfavorable direct labor cost variance C) unfavorable direct labor efficiency variance D) favorable direct materials efficiency variance
A survey of business students who had taken the Graduate Management Admission Test (GMAT) indicated that students who have spent at least five hours studying GMAT review guides have a probability of 0.85 of scoring above 400. Students who do not review have a probability of 0.65 of scoring above 400. It has been determined that 70% of the business students review for the test. a.Find the probability of scoring above 400.b.Find the probability that a student who scored above 400 reviewed for the test.
What will be an ideal response?
_____ costs do not change as output is increased or decreased
a. Marginal b. Variable c. Fixed d. Total