Nervous cruise vacationers besiege Tatiana, their excursion coordinator, at the Port of Cozumel when they realize that all water excursions have been cancelled for no reason in particular
It takes her 2.5 minutes to find the customers an alternative excursion activity and customers cluster around her at the rate of 20 per hour. About how many customers are waiting in line to receive her valuable service if the service times are exponentially distributed and the arrivals follow a Poisson distribution?
A) 2.78
B) 4.17
C) 3.25
D) 5.00
Answer: B
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A group of small sellers take the initiative and organize a new business entity to carry on wholesaling and possibly some production. This initiative is called a(n) ________
A) retailer cooperative B) franchise organization C) area-based cartel D) sponsored voluntary chain E) alternate selling channel
Types of Audit Opinions For the past five years, Clark CPAs has audited the financial statements of a manufacturing company. During this period, the audit scope was limited by the client as to the observation of the annual physical inventory. Because
Clark CPAs considers the inventories to be material and was not able to satisfy the audit requirements by using other auditing procedures, the firm was unable to express an unqualified opinion on the financial statements in each of the five years. The CPA was allowed to observe physical inventories for the current year ended December 31, 2014, because the client's bank would no longer accept the audit reports. However, to minimize audit fees, the client requested that the CPA not extend audit procedures to the inventory as of the beginning of the year, January 1, 2014. REQUIRED: Which type of audit report would you suggest be issued this year and why?