Answer the following statements true (T) or false (F)
1. SPC informs us whether a process is stable and conforms to specifications.
2. The percentage of data within three standard deviations (plus/minus) from the mean is about 99%.
3. A range chart monitors the standard deviation resulting from common causes.
4. An underlying assumption about the Poisson distribution is that the probability of occurrence of an event (defect) over a narrow interval of time, area, or space is small and directly proportional to the size of that interval.
1. True
2. True
3. False
4. True
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Boalsburg Co purchased a truck on January 1, 2014, for $30,000 . The truck had an estimated life of 5 years and an estimated residual value of $5,000 . Lightning Delivery used the straight-line method to depreciate the asset. On July 1, 2016, the truck was sold for $17,000 cash. The journal entry to record the sale of the truck in 2016?
a. increases net income b. increases total assets c. decreases total expenses d. decreases stockholders' equity
Tolerable misstatement is the amount of misstatement in an account balance that the auditor could tolerate and still not judge the underlying account balance to be materially misstated
a. True b. False Indicate whether the statement is true or false
The purpose of the follow-up communication between customer and salesperson is to express thanks for the order and to:
A) introduce related products B) complete the call card form C) request referrals for other prospects D) determine if the customer is satisfied E) ask for full payment from the customer
What happens if the president does not sign a bill that has been passed by both houses of Congress?
A) It can never become law. B) It does not become law unless it goes back to both houses and gets a two-thirds vote. C) It can become law even if the Congress adjourns before the 10-day period has elapsed. D) It can become law since it has been passed by the Congress.