Audit tests designed to detect credit sales made before year-end that were erroneously recorded in the subsequent year provide assurance about management’s assertion regarding

Confidence levels_90-95.jpgUse the following information to answer 31-34.   In his audit of Daily Company’s accounts receivable, Hayes has decided to use MUS and has established the following parameters:   Risk of incorrect acceptance            5% Tolerable misstatement                    $100,000 Expected misstatement                     $20,000   The company’s recorded balance for accounts receivable is $2,000,000.   After conducting his audit procedures, Hayes found one overstatement error, an item recorded at $12,000, but the audited value was $9,000. Assume a sampling interval of $13,000, determine the amount of upper misstatement limit due to this error.

The demand for a good is P= 100 – 3Q. The supply is P= 40 + 2Q. Assuming a perfectly competitive market : a) What is the equilibrium price and quantity?b) What is the consumer surplus? c) What is the producer surplus? d) What is the total wealth?

Define WBAT 

Cost function for a hypothetical firm is TC ($) = 200 + 2Q + 0.5Q2 Please calculate the following cost items for producing 20 units of product: 1) Fixed Costs 2) Variable Costs 3) Total Costs 4) Average Total Cost 5) Marginal Cost (assuming that the firm is already producing 20 units, what is cost of producing one more unit)  

A seller can ‘rip-off’ a buyer when:

 Cost function for a hypothetical firm is TC ($) = 250 + 5Q + 0.5Q2 Please calculate the following cost items for producing 20 units of product: 1) Fixed Costs 2) Variable Costs 3) Total Costs 4) Average Total Cost 5) Marginal Cost (assuming that the firm is already producing 20 units, what is cost of producing one more unit)  

 Following table shows the demand for three goods: Price of good A Quantity Sold of good A Quantity Sold of good B Quantity Sold of good C $50 250 400  200 $60 220  500 140 1) Calculate cross-elasticity of demand between good A and B2) Based on your result in part 1 explain the relationship between Goods A and B (are they substitutes or complements)3) Calculate cross-elasticity of demand between good A and C4) Based on your result in part 3 explain the relationship between Goods A and C (are they substitutes or complements)

Please explain the following terms: 1) Renewable portfolio standard2) Capacity factor

You are reviewing an inpatient chart trying to figure out the reason for the referral.  You read the abbreviation CABG in the chart.  On which unit are you most likely to find the patient?