In spite of its advantage in discounting extreme observations, the median is used less frequently than the mean. Why?
What will be an ideal response?
In spite of its advantage in discounting extreme observations, the median is used less frequently than the mean. The reason is that the theoretical development of inferential procedures based on the mean, and measures related to it, is considerably more straightforward than the development of procedures based on the median.
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Which of the following is a drawback of the franchise ownership?
A. The franchisor lacks any benefit from the success of his or her franchisee. B. The franchisee must join a single-store retailer to become independent of the franchisor. C. The franchisee lacks any kind of off- or onsite training from the franchisor. D. The franchisor must incur the capital costs like purchase and modification of the retail space. E. The franchisee must adhere to the franchisor's rules and operating guidelines.
How does the purchase of equipment by signing a note affect the accounting equation?
A) assets increase; assets decrease B) assets increase; liabilities decrease C) assets increase; liabilities increase D) assets increase; owner's equity increases
Which of the following is not a key factor an organization should consider when contemplating the buy vs. build decision?
A. Time to market. B. Availability of corporate resources. C. Availability of CASE tools. D. Corporate core competencies.
A company's cash receipts procedures include the following. Cashiers collect cash and issue a receipt at the point of sale. Supervisors take custody of the cash at the end of each cashier's shift and deposit it in the bank. Accounting staff then ensure the receipts from cash sales are properly recorded in the accounting system. Which internal control principle is most evident with these procedures?
A. Independently verify B. Document procedures C. Restrict access D. Segregate duties