1
predictive value
information is useful in predicting the future
2
relevance
pertinent to decision at hand
3
timeliness
information is available prior to the decision
4
confirmatory value
information confirms expectations
5
understandability
users unders
Duke Math Meet 2012
Team Round Solutions
1. Let 2k be the largest power of 2 dividing 30! = 30 29 28 2 1. Find k.
Solution. There are 30/2 multiples of 2 in the range [1, 30]. Each of these contributes a
power of 2. There are 30/4 multiples of 4, and each
Duke Math Meet 2012
Relay Round Solutions
1. Kathleen and Andrew play a game. Kathleen has a probability 0 < p < 1 of winning the
game. Andrew notes that Kathleens probability of winning a best-out-of-3 series of games
is the same as her probability of wi
Duke Math Meet 2012
Power Round Solutions
1. If v is a vertex of G, which has n edges, then v may have vertex at most n 1 - it can be
connected to every other vertex of G, but no more.
2. (a) Every edge has two endpoints, so if the sum was odd some edge w
Duke Math Meet 2011: Devil Round
In the Devil Round, all teams will be broken apart and re-assembled randomly to form new
teams of about 10 people each. There will be 5 sets of 3 problems each for a total of 15 problems.
At the start of the Devil Round, o
Individual Round
1. Ana, Bob, Cho, Dan, and Eve want to use a microwave. In order to be fair, they choose a
random order to heat their food in (all orders have equal probability). Anas food needs 5
minutes to cook, Bobs food needs 7 minutes, Chos needs 1
DUKE MATH MEET 2010 POWER ROUND
CONDITIONAL PROBABILITY AND THE GAME OF CLUE
In the Power Round, each team of six students will have 60 minutes to answer this series of proof-based
questions. Team members may collaborate freely in solving these questions.
DUKE MATH MEET 2007: INDIVIDUAL ROUND
In the Individual Round there are four sub-rounds of two problems each to be solved individually. Like
all rounds in the Duke Math Meet, only pencil and paper are allowed. At the start of each of the four subrounds, e
Order of Operations
Algebra 1.2
r of Operations
P lease
E xcuse
My
D ear
A unt
S haniqua
Parenthesis - Do all grouped operations first.
Exponents - Second
Multiplication and Division - Left to Right.
Addition and Subtraction - Left to Right.
Follow the co
1
Inventories
asset items that a company holds for sale in the ordinary course of business or goods that it will use or
consumer in the production of goods to be sold
2
Merchandising Concern
-usually purchases its merchandise in a form ready for sales
-it
1
When market is lower than cost, and the indirect method of recording the write-down is used, what account
is credited?
Allowance to reduce Inventory to market
2
A departure from the cost basis of pricing the inv. is required where these is evidence that
1
Time Value of Money
indicates a relationship btw time and money that a dollar received today is worth more than a dollar
promised at some time in the future
2
Present Value-based Accounting Measurements
1)Notes
2) Leases
3) Pensions and other post-retir
1
CURRENT RATIO (WORKING CAPITAL RATIO)
= CURRENT ASSETS / CURRENT LIABILITIES
Explanation:
The current ratio gauges how capable a business is in paying current liabilities by using current assets only.
The actual quality and management of assets must als
1
A company abandons.
the historical cost principle when the future utility (revenue-producing ability) of the asset drops below its
original cost. Companies report inventories at the lower-of-cost-or-market
2
cost
is the acquisition price of inventory co
1
Cash
-the most liquid of assets
-the standard medium of exchange and the basis for measuring and accounting for all other items
-coin, currency, avail funds @ bank, money orders, certified checks, casher's checks, personal checks,
saving acct banks draf
1
Property, Plant and Equipment include
offices, factories, warehouses, machinery, furniture, tools
2
Major Factors of PP&E
1)acquired for use in operations and not for sale- assets used in normal business
- idle building - investment
2)long-term in natur
1
1. motivate 2. provide incentives 3. determine fair rewards
3 objectives of cost allocation
2
physical units method
method of cost allocation that uses units of output to allocate joint costs to joint products
3
recipricol flows
direct method of departm
Duke Math Meet 2012
Tiebreaker Round Solutions
1. An 8-inch by 11-inch sheet of paper is laid at so that the top and bottom edges are 8 inches
long. The paper is then folded so that the top left corner touches the right edge. What is the
minimum possible