In a certain building at a top secret research lab , some yttrium-90 has leaked into the computer analysts' coffee room. The leak would currently expose personnel to 150 millirems of radiation a day. The half-life of the substance is about three days; that is, the radiation level is only half of what it was three days ago. The analysts want to know how long it will be before the radiation is down to a safe level of 0.466 millirem a day. They would like a chart that displays the radiation level for every three days with the message Unsafe or Safe after every line. The chart should stop just before the radiation level is one-tenth of the safe level, because the more cautious analysts will require a safety factor of 10. The program should also print the first day that the room can be entered.

Two frictionless “hoverpucks” (puck 1 and puck 2) with mass 0.20 kg are travelling on a collision course with a third hoverpuck which is at rest and has mass 0.40 kg. Before they collide, puck 1 has velocity (1.0 m/s) î – (1.0 m/s) ĵ. After the collision they all stick together and have velocity (2.0 m/s) î + (0.5 m/s) ĵ. Friction is negligible.

a) What is the velocity of puck 2 before the collision?

b) What is the total impulse on puck 1 during the collision?

c) If the duration of the collision was 0.15 s what was the average force exerted by puck 3 on puck 1?

d) How much kinetic energy is gained or lost by the three-puck system?

1. Fraud, Professional Ethics and Auditor Independence 

   a) When assessing a client’s integrity, the auditor will consider the client’s willingness to allow the auditor full access to information required to form an opinion and pay a fair amount for the work completed. Explain why.

   b) Mike is a very experienced auditor with unique expertise in the mining industry. As a result, Mike has been the lead audit partner for the audit at BKK Oil for the last seven years. Recently, Mike was approached by the board of BKK with an offer of employment as a director starting in two years’ time. The only condition was that the audit work (for the year ended 30 June 2020) must be finished in six weeks and the independent auditor’s report signed off before 15th August 2020, as the Annual General Meeting (AGM) has been scheduled for early September. Mike is aware that the audit of BKK normally takes at least nine weeks.

   i) Identify and explain TWO possible threats to audit independence.

   ii) Suggest appropriate actions and safeguards that could be put in place to reduce the threat to an acceptable level.

   c) Two months before the end of the financial year, Greenlight Resort terminated the contract of one of its senior sales managers. Her employment was terminated after it was discovered she had worked in collusion with several customers to commit fraud. This included giving special discounts on room rates and event services, and reducing customers’ period of stay and value of other services provided. The manager would then take direct payments from the customers. During the investigation process, it was discovered that the manager was the only one allowed to access the customer database and had authorisation to update prices. For more than two years, the manager had never taken any annual leave.

   i) Identify and explain TWO fraud risk factors.

   ii) Identify TWO key accounts that are potentially affected by the fraud. For each account, identify ONE key assertion that is at risk.

i) Authorisation by the shift supervisor of all overtime hours worked.

ii) Review of overtime payment records by the project manager.

Briefly explain the purpose of each of the above control procedures, and identify whether the procedure recommended is a ‘prevent’ or ‘detect’ control.

c) You are reviewing the test result in relation to accounts receivable at Ryan’s Tools as below:

i) Is the above test a test of controls or a substantive test of details? Explain your answer. What type of procedure did the auditor use?

ii) Determine the key assertion addressed by the test procedure. Suggest ONE alternative testing procedure that can be used to test the assertion identified.

iii) Explain why the conclusion reached is appropriate or inappropriate, and outline the key additional audit procedure that you believe needs to be performed.

If the nominal interest rate is 0.09 and the (expected) inflation rate is 0.03, what is the real interest rate? (Answer as a decimal.)

Consider an economy with only one good: corn. In 2010 the price of corn was 6.08 and in 2011 the price was 7.9. What was the inflation rate? (Answer as a decimal. Round to three decimal places.)

Let NGDP be 1,825 and the money supply be 474. What is velocity? (Round to one decimal place.)

If the nominal interest rate is 0.09 and the (expected) inflation rate is 0.03, what is the real interest rate? (Answer as a decimal.)

Consider an economy with only one good: corn. In 2010 the price of corn was 6.08 and in 2011 the price was 7.9. What was the inflation rate? (Answer as a decimal. Round to three decimal places.)

Let NGDP be 1,825 and the money supply be 474. What is velocity? (Round to one decimal place.)

According to a 2010 study conducted by the Toronto-based social media analytics firm Sysomos, 71% of all tweets get no reaction. That is, these are tweets that are not replied to or retweeted. Suppose we randomly select 200 tweets.

(a)

What is the expected number of these tweets with no reaction?

(b)

What are the variance and standard deviation for the number of these tweets with no reaction? (Round your answer for the standard deviation to four decimal places.)

variance:

standard deviation:

When will the world reach the 2.2 children per woman zero population growth rate?

Yahoo! reported the following in its 2011 financial statements (in thousands): (in millions) December 31, 2010 December 31, 2011 Total assets $14,928,104 $14,782,786 Revenues $6,324,651 $4,984,199 Product development expense $1,082,176 $1,005,090 Net income $1,244,628 $1,062,669 What is Yahoo's common-sized product development expense for 2011? A. 6.8% B. 20.2% C. 94.6% D. 93.7% E. None of the above

The table below shows the life expectancy for an individual born in the United States in certain years.

Find the estimated life expectancy for an individual born in 1965 and for one born in 1992. (Round your answers to one decimal place.)