The average waiting time on a Thursday night for a table at a popular Chinese restaurant is 30 minutes. If customers arrive at the rate of four per hour and both the service and arrival rates are Poisson distributed, what is the average service time?
A) greater than 3 but less than 4 per hour
B) greater than 4 but less than 5 per hour
C) greater than 5 but less than 6 per hour
D) cannot be determined from the information provided.
Answer: C
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Aceton Corporation owns 80% of the outstanding stock of Voctax, Inc. During the current year, Votax made $140,000 in sales to Aceton. How does this transfer affect the consolidated statement of cash flows?
A) the transaction should be included if payment has been made B) only 80% of the transfers should be included because the subsidiary made the sales C) because the transfers were from a subsidiary organization, the cash flows are reported as investing activities. D) because of the intra-entity nature of the transfers, the amount is not reported in the consolidated cash flow statement.
The difference that arises between the balance on the bank statement and the balance on the company's books because of a time lag in recording transactions is known as a permanent difference
Indicate whether the statement is true or false