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NEW QUESTION: 1
What does a Statistical Baseline read?
A. Historical data from a time period and plots data based on statistical calculations
B. Situation data and compares itto a statistical boundary equations based on historical data
C. Situation data and compares itto a historical boundary equation based on historical data
D. Acurrentvalue and plots itagainsttime in a running graph
Answer: A

NEW QUESTION: 2
On January 2, 1993, Quo, Inc. hired Reed to be its controller. During the year, Reed, working closely with Quo's president and outside accountants, made changes in accounting policies, corrected several errors dating from 1992 and before, and instituted new accounting policies.
Quo's 1993 financial statements will be presented in comparative form with its 1992 financial statements.
This question represents one of Quo's transactions. List A represents possible clarifications of these transactions as: a change in accounting principle, a change in accounting estimate, a correction of an error in previously presented financial statements, or neither an accounting change nor an accounting error.
Item to Be Answered
Quo changed from FIFO to average cost to account for its raw materials and work in process inventories.
List A (Select one)
A. Change in accounting estimate.
B. Correction of an error in previously presented financial statements.
C. Change in accounting principal.
D. Neither an accounting change nor an accounting error.
Answer: C

NEW QUESTION: 3
Upper and lower control limits could be set at a standard deviation of three. Which of the following represents the associated confidence level?
A. 99.7%
B. 68%
C. 99.999%
D. 95%
Answer: A