Which of the following is not an assumption or a characteristic of a Markov Process?
A) The transition probabilities are the same for any customer.
B) The transition probabilities will remain constant over time.
C) The probability of being in a particular state at any one time period depends only on the state immediately preceding it.
D) In a transition matrix, sum of the row probabilities must sum to one.
E) In a transition matrix, sum of the column probabilities must sum to one.
Answer: E
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The most recent comparative balance sheet of Giacomelli Corporation appears below:Comparative Balance Sheet Ending BalanceBeginning BalanceAssets: Current assets: Cash and cash equivalents$37,000 $29,000 Accounts receivable 20,000 24,000 Inventory 65,000 61,000 Prepaid expenses 5,000 7,000 Total current assets 127,000 121,000 Property, plant, and equipment 424,000 399,000 Less accumulated depreciation 231,000 200,000 Net property, plant, and equipment 193,000 199,000 Total assets$ 320,000 $ 320,000 Liabilities and stockholders' equity: Current liabilities: Accounts payable$19,000 $17,000 Accrued liabilities 58,000 51,000 Income taxes payable 47,000 42,000 Total
current liabilities 124,000 110,000 Bonds payable 77,000 80,000 Total liabilities 201,000 190,000 Stockholders' equity: Common stock 31,000 30,000 Retained earnings 88,000 100,000 Total stockholders' equity 119,000 130,000 Total liabilities and stockholders' equity$ 320,000 $ 320,000 The company uses the indirect method to construct the operating activities section of its statement of cash flows.Which of the following is correct regarding the operating activities section of the statement of cash flows? A. The change in Prepaid Expenses will be subtracted from net income; The change in Income Taxes Payable will be added to net income B. The change in Prepaid Expenses will be subtracted from net income; The change in Income Taxes Payable will be subtracted from net income C. The change in Prepaid Expenses will be added to net income; The change in Income Taxes Payable will be subtracted from net income D. The change in Prepaid Expenses will be added to net income; The change in Income Taxes Payable will be added to net income
Which of the following statements is correct as it relates to a company that sells multiple products?
A) CVP analysis cannot be used. B) Contribution margin is based on sales mix. C) CVP analysis is much easier to use. D) The break-even point remains the same even if sales mix changes.
During December, the production department of a process operations system completed and transferred to finished goods a total of 65,000 units of product. At the end of March, 15,000 additional units were in process in the production department and were 80% complete with respect to materials. The beginning inventory included materials cost of $57,500 and the production department incurred direct materials cost of $183,000 during December. Compute the direct materials cost per equivalent unit for the department using the weighted-average method.
A. $2.82. B. $2.38. C. $3.12. D. $3.70. E. $4.79.
Terry Moser, an organizer for the Teamsters, gives five progressive steps that can lead to unionization. At which step do labor organizers seek specific information about the employer's finances, supervisory styles, and management practices?
A. Employee/union contact B. Initial organizational meeting C. Formation of in-house organizing committee D. Election petition and voting preparation