Which of the following is a change in accounting principle?
a. A change in the estimated service life of machinery
b. A change from FIFO to LIFO
c. A change from straight-line to double-declining-balance
d. A change from FIFO to LIFO and a change from straight-line to double-declining- balance
Answer: d. A change from FIFO to LIFO and a change from straight-line to double-declining- balance
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Floyd Electric is fabricating flanges for a new electrical motor. The flange is to be 25 millimeters in diameter with an upper tolerance limit of 26.5 millimeters and a lower tolerance limit of 23.5 millimeters
Bill Floyd took a sample consisting of ten flanges, measured the diameter and recorded the observations in the table. 25.69 25.58 24.78 24.94 24.87 24.63 25.70 25.52 24.95 24.91 What is Floyd Electric's process standard deviation? A) 0.15 B) 0.17 C) 0.42 D) 0.39
An export trading company ________
A) is a business that buys and sells products in many countries, either in its own name or as an agent for its buyer-seller clients B) typically offers a wide range of services such as exporting, shipping, storing, distributing, and others to their clients C) is formed by an agreement by which a licenser gives a foreign licensee the right to use a patent, trademark, copyright, technology, and products in return for a percentage of the licensee's sales or profits D) Both A and C above