9 Pages

# Ch10TestBank

Course: OPMT 1111, Spring 2011

School: Toledo

Word Count: 1607

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CHAPTER 10: COMPARISON INVOLVING MEANS, EXPERIMENTAL DESIGN, AND ANALYSIS OF VARIANCE MULTIPLE CHOICE Exhibit 10-1 Salary information regarding male and female employees of a large company is shown below. Sample Size Sample Mean Salary (in \$1,000) Population Variance ( 2) Male (Pop. 1) 64 44 128 Female (Pop. 2) 36 41 72 1. Refer to Exhibit 10-1. The point estimate of the difference between the means of the two...

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Toledo - OPMT - 1111
CHAPTER 9HYPOTHESIS TESTSMULTIPLE CHOICE1. What type of error occurs if you fail to reject H0 when, in fact, it is not true?a. Type IIb. Type Ic. either Type I or Type II, depending on the level of significanced. either Type I or Type II, depending
Toledo - OPMT - 1111
CHAPTER 8INTERVAL ESTIMATIONMULTIPLE CHOICE1. The absolute value of the difference between the point estimate and the population parameter itestimates isa. the standard errorb. the sampling errorc. precisiond. the error of confidenceANS: B2. From
Toledo - OPMT - 1111
CHAPTER 7SAMPLING AND SAMPLING DISTRIBUTIONSMULTIPLE CHOICE1. From a group of 12 students, we want to select a random sample of 4 students to serve on a universitycommittee. How many different random samples of 4 students can be selected?a. 48b. 20,7
Toledo - OPMT - 1111
CHAPTER 6CONTINUOUS PROBABILITY DISTRIBUTIONSMULTIPLE CHOICE1. The probability that a continuous random variable takes any specific valuea. is equal to zerob. is at least 0.5c. depends on the probability density functiond. is very close to 1.0ANS:
Toledo - OPMT - 1111
CHAPTER 5DISCRETE PROBABILITY DISTRIBUTIONSMULTIPLE CHOICE1. A numerical description of the outcome of an experiment is called aa. descriptive statisticb. probability functionc. varianced. random variableANS: D2. A random variable that can assume
Toledo - OPMT - 1111
CHAPTER 4INTRODUCTION TO PROBABILITYMULTIPLE CHOICE1. The counting rule that is used for counting the number of experimental outcomes when n objects areselected from a set of N objects where order of selection is not important is calleda. permutation
Toledo - OPMT - 1111
CHAPTER 3DESCRIPTIVE STATISTICS: NUMERICAL MEASURESMULTIPLE CHOICE1. Which of the following provides a measure of central location for the data?a. standard deviationb. meanc. varianced. rangeANS: B2. A numerical value used as a summary measure for
Toledo - OPMT - 1111
CHAPTER 2DESCRIPTIVE STATISTICS: TABULAR AND GRAPHICALPRESENTATIONSMULTIPLE CHOICE1. A frequency distribution is a tabular summary of data showing thea. fraction of items in several classesb. percentage of items in several classesc. relative percent
Toledo - OPMT - 1111
CHAPTER 1DATA AND STATISTICSMULTIPLE CHOICE1. A survey to collect data on the entire population isa. a censusb. a samplec. a populationd. an inferenceANS: A2. In a questionnaire, respondents are asked to mark their gender as male or female. Gender
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What is Critical Thinking?A critical thinker is first of all a person with a disposition toavoid deception: one wishes not be deceived and not to deceiveothers or oneself.While many people dont want to deceive others, some are notso scrupulous when i
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Modern Logical ArgumentsStrange as it may seem, the foundation of modern logic was created by the Stoic philosophersright after Aristotle. They reasoned that the Categorical Syllogism was really as follows: IfPremise 1 is accepted and Premise 2 is acce
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CHAPTER 1CORPORATE EXPANSION AND ACCOUNTING FOR BUSINESS COMBINATIONSANSWERS TO QUESTIONS - PART IQ1-1(a) A statutory merger occurs when one company acquires another companyand the assets and liabilities of the acquired company are transferred to the
University of Phoenix - ACC - 440
CHAPTER 2REPORTING INTERCORPORATE INVESTMENTS IN COMMON STOCKANSWERS TO QUESTIONSQ2-1(a) An investment in the voting common stock of another company isreported on an equity-method basis when the investor is able to significantlyinfluence the operati
University of Phoenix - ACC - 440
CHAPTER 3THE REPORTING ENTITY AND CONSOLIDATED FINANCIAL STATEMENTSANSWERS TO QUESTIONSQ3-1Underlying the preparation of consolidated financial statements is thenotion that the consolidated financial statements present the financial positionand the
University of Phoenix - ACC - 440
CHAPTER 4CONSOLIDATION AS OF THE DATE OF ACQUISITIONANSWERS TO QUESTIONSQ4-1An adjusting entry is recorded on the company's books and causes thebalances reported by the company to change. Eliminating entries, on the otherhand, are not recorded on th
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CHAPTER 5CONSOLIDATION FOLLOWING ACQUISITIONANSWERS TO QUESTIONSQ5-1Additional entries are needed to eliminate all income statement andretained earnings statement effects of intercorporate ownership and any transfersof goods and services between rel
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CHAPTER 6INTERCORPORATE TRANSFERS: NONCURRENT ASSETSANSWERS TO QUESTIONSQ6-1Profits on intercorporate sales generally are considered to be realizedwhen the affiliate that has purchased the item sells it to a nonaffiliate. Fordepreciable or amortizab
University of Phoenix - ACC - 440
CHAPTER 7INTERCOMPANY INVENTORY TRANSACTIONSANSWERS TO QUESTIONSQ7-1All inventory transfers between related companies must be eliminated toavoid an overstatement of revenue and cost of goods sold in the consolidatedincome statement. In addition, whe
University of Phoenix - ACC - 440
CHAPTER 8INTERCOMPANY INDEBTEDNESSANSWERS TO QUESTIONSQ8-1A gain or loss on bond retirement is reported by theconsolidated entity whenever (a) one of the companies purchasesits own bonds from a nonaffiliate at an amount other than bookvalue, or (b)
University of Phoenix - ACC - 440
CHAPTER 9CONSOLIDATION OWNERSHIP ISSUESANSWERS TO QUESTIONSQ9-1Preferred stock of the subsidiary is eliminated in the consolidationprocess in a manner comparable to that used in eliminating the common stock ofthe subsidiary. For those preferred shar
University of Phoenix - ACC - 440
CHAPTER 10ADDITIONAL CONSOLIDATION REPORTING ISSUESANSWERS TO QUESTIONSQ10-1 The balance sheet, income statement, and statement of changes in retainedearnings are an integrated set and generally need to be completed as a unit.Once completed, these st
University of Phoenix - ACC - 440
CHAPTER 11MULTINATIONAL ACCOUNTING: FOREIGN CURRENCY TRANSACTIONS ANDFINANCIAL INSTRUMENTSANSWERS TO QUESTIONSQ11-1Indirect and direct exchange rates differ by which currency is desiredto be expressed in another currency. An indirect exchange rate i
University of Phoenix - ACC - 440
CHAPTER 12MULTINATIONAL ACCOUNTING: TRANSLATION OF FOREIGN ENTITY STATEMENTSANSWERS TO QUESTIONSQ12-1a. Local currency unit. The local currency unit (LCU) is the currencyused locally; that is, the currency used in the country in which the company is
University of Phoenix - ACC - 440
CHAPTER 13SEGMENT AND INTERIM REPORTINGANSWERS TO QUESTIONSQ13-1Information on a company's operations in different industries would behelpful to investors in their assessments concerning the different profit rates,different degrees and types of risk
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CHAPTER 14SEC REPORTINGANSWERS TO QUESTIONSQ14-1The basis of the SEC's legal authority to regulate accounting principlesstems from the Securities Exchange Act of 1934. In the 1934 Act, the SEC wasgiven the legal responsibility to regulate trades of
University of Phoenix - ACC - 440
CHAPTER 15PARTNERSHIPS: FORMATION, OPERATION, AND CHANGES IN OWNERSHIPANSWERS TO QUESTIONSQ15-1Partnerships are a popular form of business because they are easy toform (informal methods of organization), and because they allow severalindividuals to
University of Phoenix - ACC - 440
CHAPTER 16PARTNERSHIPS: LIQUIDATIONANSWERS TO QUESTIONSQ16-1a.b.c.d.e.The major causes of a dissolution are:Admission of a new partner or withdrawal of a partnerThe specified term or task of the partnership has been completedAll partners agree
University of Phoenix - ACC - 440
CHAPTER 17GOVERNMENTAL ENTITIES: INTRODUCTION AND GENERAL FUND ACCOUNTINGANSWERS TO QUESTIONSQ17-1A fund is an independent fiscal and accounting entity with a selfbalancing set of accounts recording cash and/or other resources together withall relate
University of Phoenix - ACC - 440
CHAPTER 18GOVERNMENTAL ENTITIES: SPECIAL FUNDS ANDGOVERNMENT-WIDE FINANCIAL STATEMENTSANSWERS TO QUESTIONSQ18-1A governmental unit would use a special revenue fund rather than ageneral fund when the resources earmarked for the fund, such as federal
University of Phoenix - ACC - 440
CHAPTER 19NOT-FOR-PROFIT ENTITIESANSWERS TO QUESTIONSQ19-1Initially, tuition scholarships are included in revenue for the period inorder to measure fully the revenue obtainable. If the university requires anemployment-type work for the tuition schol
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CHAPTER 20CORPORATIONS IN FINANCIAL DIFFICULTYANSWERS TO QUESTIONSQ20-1The nonjudicial actions available to a financially distressed company aredebt restructuring arrangements, creditor's committee management, and voluntaryasset assignment. The judi
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