One concern of the internal auditor is the efficiency with which the organization is run
a. True
b. False
Indicate whether the statement is true or false
True
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A company produces 500 microwave ovens per month, each of which includes one electrical circuit. The company currently manufactures the circuits in-house but is considering outsourcing the circuits at a contract cost of $30 each. Currently, the cost of producing circuits in-house includes variable costs of $22 per circuit and fixed costs of $11,000 per month. Assume the company could cut fixed costs in half by outsourcing and that there is no alternative use for the facilities presently being used to make circuits. If the company outsources, operating income will ________.
A) increase by $1500 B) decrease by $1500 C) decrease by $4000 D) stay the same
By looking at a statement of retained earnings, the effect of dividends on the ending balance of retained earnings can be determined
Indicate whether the statement is true or false
Misstatement of the insured's age will result in
a. voiding of the policy. b. possible cancellation of the policy by the insurance company. c. adjustment of the face value of the policy by the insurance company. d. none of these.
Which of the following is NOT one of the steps that managers take to mitigate scheduling problems?
a. Lot splitting can be used for large orders when there are significant differences in job processing times. b. Scheduling should be based on the capacity of the operations that are bottlenecks if there are capacity constraints in the facility. c. The due dates set for order delivery should be realistic and should take existing loads on work centers and available capacities into account. d. Scheduling should be focused on customer orders and delivery by due dates.