Which country best exemplifies the shareholder capitalism model?
a. United States
b. Germany
c. Japan
d. China
a. United States
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Which of the following is an example of a credit memorandum?
a. Service charge notice b. Collection of a note receivable by the bank c. Outstanding check d. Company error in recording a $600 deposit as $500
The portion of cost of goods available for sale that is not assigned to ending inventory is assigned to work in process
Indicate whether the statement is true or false
A separate section of the income statement reporting information about discontinued operations is included
a. only if the sale resulted in a loss. b. in every income statement prepared in accordance with the GAAP. c. any time a major business asset is sold. d. if a firm sells, during the period, or plans to sell, during the next period, a major division or segment of its business. e. if a firm has sold during the previous period, or plans to sell during the next period, a major division or segment of its business.
The service manager for a new appliances store reviewed sales records of the past 20 sales of new microwaves to determine the number of warranty repairs he will be called on to perform in the next 90 days. Corporate reports indicate that the probability any one of their new microwaves needs a warranty repair in the first 90 days is 0.05. The manager assumes that calls for warranty repair are independent of one another and is interested in predicting the number of warranty repairs he will be called on to perform in the next 90 days for this batch of 20 new microwaves sold. What is the probability that at most two of the 20 new microwaves sold will require a warranty repair in the first 90 days?
What will be an ideal response?