Required:

1. Journalize the April transactions for Bird Company (the buyer). If an amount box does not require an entry, leave it blank.

2. Journalize the April transactions for Swan Company (the seller). If an amount box does not require an entry, leave it blank.

Let x represent the dollar amount spent on supermarket impulse buying in a 10-minute (unplanned) shopping interval. Based on a certain article, the mean of the x distribution is about $25 and the estimated standard deviation is about $8.

(a) Consider a random sample of n = 100 customers, each of whom has 10 minutes of unplanned shopping time in a supermarket. From the central limit theorem, what can you say about the probability distribution of x, the average amount spent by these customers due to impulse buying? What are the mean and standard deviation of the x distribution?

The sampling distribution of x is approximately normal with mean μ_x = 25 and standard error σ_x = $8. The sampling distribution of x is approximately normal with mean μ_x = 25 and standard error σ_x = $0.08.     The sampling distribution of x is not normal. The sampling distribution of x is approximately normal with mean μ_x = 25 and standard error σ_x = $0.80.

Is it necessary to make any assumption about the x distribution? Explain your answer.

It is necessary to assume that x has a large distribution. It is not necessary to make any assumption about the x distribution because μ is large.     It is necessary to assume that x has an approximately normal distribution. It is not necessary to make any assumption about the x distribution because n is large.

(b) What is the probability that x is between $23 and $27? (Round your answer to four decimal places.)


(c) Let us assume that x has a distribution that is approximately normal. What is the probability that x is between $23 and $27? (Round your answer to four decimal places.)


(d) In part (b), we used x, the average amount spent, computed for 100 customers. In part (c), we used x, the amount spent by only one customer. The answers to parts (b) and (c) are very different. Why would this happen?

The standard deviation is larger for the x distribution than it is for the x distribution. The sample size is smaller for the x distribution than it is for the x distribution.     The standard deviation is smaller for the x distribution than it is for the x distribution. The x distribution is approximately normal while the x distribution is not normal. The mean is larger for the x distribution than it is for the x distribution.

In this example, x is a much more predictable or reliable statistic than x. Consider that almost all marketing strategies and sales pitches are designed for the average customer and not the individual customer. How does the central limit theorem tell us that the average customer is much more predictable than the individual customer?

The central limit theorem tells us that small sample sizes have small standard deviations on average. Thus, the average customer is more predictable than the individual customer. The central limit theorem tells us that the standard deviation of the sample mean is much smaller than the population standard deviation. Thus, the average customer is more predictable than the individual customer.

In what follows use any of the following tests/procedures: Regression, multiple regression, confidence intervals, one sided T-test or two sided T-test. All the procedures should be done with 5% P-value or 95% confidence interval.Some answers are approximated, choose the most appropriate answer. Open Cars04 data. SETUP: Is it reasonable to claim that cars with higher city MPG have also higher Highway MPG? Given the data your job is to help answer this question.

I. What test/procedure did you perform? (6.66 points)

a. One sided T-test

b. Two sided T-test

c. Regression

d. Confidence interval

II. Statistical interpretation? (6.66 points)

a. Since P-value is small we are confident that the slope is not zero.

b. Since P-value is small we are confident that the averages are different.

c. Since P-value is too large the test is inconclusive.

d. None of these.

III. Conclusion? (6.66 points)

a. Yes, we confirm that this was a reasonable claim.

b. No, we cannot confirm that this was a reasonable claim.

Assume that you recently graduated from ADU’s MHA program and landed a job as an assistant financial officer with the Cleveland Clinic. The clinic has $100,000 sitting in a checking account. The funds were designated by the board for the construction of a proton therapy facility. Construction of the facility will start one year from now. Your first assignment is to invest the $100,000 with the understanding that you need to plan for a one-year holding period because the funds must be available when construction begins in one year. Further, your boss has restricted you to the following investment alternatives, shown with their probabilities and associated outcomes.                 

Barney Smith Investment Advisors recently issued estimates for the state of the economy and the rate of return on each state of the economy. Alta Industries, Inc. is an electronics firm; Repo Men Inc. collects past due debts; and American Foam manufactures mattresses and various other foam products. Barney Smith also maintains an "index fund" which owns a market-weighted fraction of all publicly traded stocks; you can invest in that fund and thus obtain average stock market results. Given the situation as described, answer the following questions.                  

a. Calculate the expected rate of return on each alternative.

b. Calculate the standard deviation of returns on each alternative.

c. Calculate the coefficient of variation on each alternative.

d. Calculate the beta on each alternative.

g. Suppose you create a two-stock portfolio by investing $50,000 in Alta Industries and $50,000 in Repo    Men. Calculate the expected return, standard deviation, coefficient of variation, and beta for this    portfolio. How does the risk of this two-stock portfolio compare with the risk of the individual stocks if they were held in isolation?

Assume that you recently graduated and you just landed a job as a financial planner with the Cleveland Clinic. Your first assignment is to invest $100,000. Because the funds are to be invested at the end of one year, you have been instructed to plan for a one-year holding period. Further, your boss has restricted you to the following investment alternatives, shown with their probabilities and associated outcomes. State of Economy Probability T-Bills Alta Inds. Repo Men American Foam Market Port. Recession 0.1 8.00% -22.0% 28.0% 10.0% -13.0% Below Average 0.2 8.00% -2.0% 14.7% -10.0% 1.0% Average 0.4 8.00% 20.0% 0.0% 7.0% 15.0% Above Average 0.2 8.00% 35.0% -10.0% 45.0% 29.0% Boom 0.1 8.00% 50.0% -20.0% 30.0% 43.0% Barney Smith Investment Advisors recently issued estimates for the state of the economy and the rate of return on each state of the economy. Alta Industries, Inc. is an electronics firm; Repo Men Inc. collects past due debts; and American Foam manufactures mattresses and various other foam products. Barney Smith also maintains an "index fund" which owns a market-weighted fraction of all publicly traded stocks; you can invest in that fund and thus obtain average stock market results. Given the situation as described, answer the following questions. a. Calculate the expected rate of return on each alternative. b. Calculate the standard deviation of returns on each alternative. c. Calculate the coefficient of variation on each alternative. d. Calculate the beta on each alternative. e. Do the SD, CV, and beta produce the same risk ranking? Why or why not? f. Suppose you create a two-stock portfolio by investing $50,000 in Alta Industries and $50,000 in Repo Men. Calculate the expected return, standard deviation, coefficient of variation, and beta for this portfolio. How does the risk of this two-stock portfolio compare with the risk of the individual stocks if they were held in isolation? Please show all calculations and formulas used to derive the answers.

Fresh Ltd. (Fresh) manufactures organic fruit drinks and its year end is December 31, 2020. You are an audit manager of Lea & Bettiol CPAs and are currently planning the audit of Fresh. You attended the planning meeting with the audit engagement partner and CFO last week and made the following notes:

Notes of planning meeting for Fresh

Fresh’s sales have been strong and the company is forecasting revenue of $40 million this year, which is a 25% increase over the prior year. During the year, the company invested significantly in its beverage production process at its factory to ensure it can keep up with the product demand. It also spent $4 million updating, repairing and replacing most of the machinery used in its production process. Because of the significant demand, the company also expanded the number of warehouses it uses to store inventory. It now utilises 15 warehouses; some are owned by Fresh and some are rented from third parties. There will be inventory counts taking place at all 15 of these sites at the year end.

A new accounting general ledger was introduced at the beginning of the year, with the old and new systems being run in parallel for a period of two months. In addition, Fresh spent $1.3 million on developing a new brand of protein drinks. The company started this process in July 2020 and is close to launching their new product into the market.

As a result of the increase in revenue, Fresh recently recruited a new credit manager to collect outstanding receivables. The CFO is sure the new manager will be successful and so he does not think Fresh needs to continue to maintain a general allowance for doubtful accounts and so he has not booked one for 2020.

The CFO stated that there was a problem in the mixing of raw materials within the production process which resulted in a large batch of drinks tasting different. A number of these products were sold; but due to complaints by customers, no further sales of these beverages have been made. No adjustment has been made to the valuation of the damaged inventory, which will still be held at a cost of $1 million at the year end.

As in previous years, the management of Fresh is due to be paid a significant annual bonus based on the value of year-end total assets.

Required:

(a) Using the notes provided, identify and explain SEVEN audit risks

(b) If the auditor determines the engagement is high risk- what does this mean for detection risk and materiality?

(b) Assuming the auditor determines the inventory is overvalued, what would be the impact, if any, on the audit report?

(c) What type of audit procedure would provide the auditor the best evidence for the existence of the inventory? (1 Mark)

QUESTION 1
Your organization has started experiencing low sales amid the Covid-19 pandemic. The management has decided to carry out an Action Research to beef up the sales and enhance the overall performance of the organization. As a Research Officer of the organization, outline and briefly discuss most suitable elements of an Action Research proposal for management consideration.

QUESTION 2
Case Study
The case below relates to an MBA Accounting & Finance student, Eli, at UPSA, who was interested in the applicability of organizational citizenship behaviour theory to Ghanaian workers. The title of the research is: The applicability of organizational citizenship behaviour theory to a Ghanaian organisation.

Background
The early definition of organisational citizenship behaviour (OCB) viewed this as discretionary behaviours by employees that were not recognised through the reward system (Organ 1988; Organ et al. 2006). Partly because such behaviours could subsequently be recognised through reward, OCB was redefined as ‘performance that supports the social and psychological environment’ within which work occurs (Organ 1997: 95). It has been adopted by researchers such as Bolino et al. (2002) to indicate situations where employees work beyond contractual requirements to support one another, to subordinate individual interests to organizational ones and to demonstrate organisational commitment. In this way OCBs may contribute to organisational performance and potentially offer a source of competitive advantage. Podsakoff et al. (2009) report finding over 650 published articles on OCB, mainly examining the categories of behaviour that make up OCB (its dimensions), what causes employees to engage in these behaviours (the determinants or antecedents of OCB) and how OCB is related to these other variables. An early, influential study to identify its dimensions used interviews with managers in a manufacturing company to ‘identify instances of helpful, but not absolutely required job behaviour’ to help to define OCB (Smith et al. 1983). This and other early studies led to the identification of five categories of OCBs (Organ 1988). These were labelled as altruism (helping a co-worker with a workplace task); civic virtue (participating in the organisation); conscientiousness (working beyond the minimum requirements for the job); courtesy (considering how one’s own behaviour might affect others and acting to facilitate harmony); and sportsmanship (not complaining even in less than ideal situations) (e.g. Organ 1988). Further research led to new dimensions of OCB being proposed (Organ et al. 2006), although these five original categories have remained the most commonly tested.

However, continuing to use some of these dimensions of OCB and the measurement scales associated with them (Organ 1988; Podsakoff et al. 1990) has been questioned for two important reasons. Firstly, the nature of work has changed since the 1980s and 1990s. Manufacturing and manual work is now less important in many economies while knowledge work is much more important. Based on research, Dekas et al. (2013) developed an OCB scale for knowledge workers that reflects the nature of knowledge-based work, such as working flexibly and taking personal initiative. This new scale overlaps with some earlier OCB dimensions but replaces or eliminates outdated items related to willingly obeying rules or regimented working practices.

Secondly, questions have been asked about the transferability of OCB scales to other cultures.
OCB studies may apply only to the cultural context within which they are conducted (Choi, 2009). The applicability of OCB to other cultural settings therefore requires further research. Hui et al. (2004) examined the relationships between psychological contract constructs and OCBs in Ghana.
They adopted the OCB scale developed by Podsakoff et al. (1990) (see earlier) and, in part, found that that more research is required to understand how culture affects the applicability of OCB. Farh et al. (1997) examined the relationships between organisational justice theory and OCBs in Ghana, using a Ghanaian OCB scale they developed. They found that the relationships between organisational justice and OCB were moderated by cultural (attitudes about either modernity or tradition) and gender factors. Some behaviour of Ghanaian employees may be due to socialization or broader cultural norms and be more personally focused than organizationally related (Farh et al. 1997; Hui et al. 2004). This raises questions about the applicability of OCB in Ghana and whether organisational justice and psychology contract constructs may be determinants or antecedents of OCB. In addition, Hui et al. (2004) point out that organisational type may affect OCB; for example, they cite research saying that Ghanaian employees may prefer working for a foreign-owned company rather than a state-owned enterprise.

Research question and research objectives
The research question is:
To what extent are organisational citizenship behaviour, organisational justice and psychological contract theories applicable to Ghanaian organisations and why?
The research objectives are:
1) To identify suitable measurement scales for each theory, to use in the case study of Ghanaian organisation.
2) To examine the relationship in the case study organisation between findings from the organisational justice scale and findings from the organisational citizenship behaviour scale.
3) To examine the relationship in the case study organisation between findings from the psychological contract scale and findings from the organisational citizenship behaviour scale.
4) To examine the relationship between findings in the case study organisation from the organisational citizenship behaviour scale and findings in other national contexts from organisational citizenship behaviour research.
5) To draw conclusions from the relationships observed in objectives 2, 3 and 4, to evaluate the applicability of these concepts in a Ghanaian organisation.

Method
Research design
This research is designed to test the applicability of these theories in a case study, Ghanaian organisation. The research will use a survey strategy incorporating existing scales from peer-reviewed, high-quality academic journals. The research will be cross-sectional in nature.
Participants
The intended participants in this study work for [company name] in Ghana. Its management have agreed to grant me access to a representative sample of employees drawn from the different grades and occupations and between males and females employed within the organisation [email attached]. Eli is currently in correspondence with the manager of the human resource department to finalise a stratified random sample to represent the characteristics of the organisation’s workforce. It is envisaged that the sample size will be 200 employees.

Techniques
The scales for organisational citizenship behaviour, organisational justice and the psychological contract will be incorporated into a questionnaire that will also collect data about respondents’ demographic characteristics. This questionnaire will be administered in Ghana. It will be checked for accuracy of translation and pilot tested by some of my fellow students. Amendments will be made where necessary. It will then be administered in paper form. The data will be analysed quantitatively using IBM SPSS Statistics. A range of statistical techniques will be used to analyse these data and the results from these will be used to identify relationships between the concepts identified in the research objectives and to allow comparison with previously published research.
Ethical considerations and procedures
Eli will compose a letter to be sent to members of the sample that informs them about who I am and the purpose of my research project, and to assure them that their responses to each of the questionnaire items will be seen and used only by Eli. Respondents will not be asked for their name on the questionnaire. The questionnaire will ask for only limited personal data about each participant [for example, whether they are male or female as previous research has found this to be a significant factor in the applicability of organisational justice and organizational citizenship behaviours in a Ghanaian context (Farh et al. 1997)].
Completed questionnaires will be posted into a sealed container that will be returned to Eli to ensure respondent confidentiality and the anonymity of the data that they provide. These questionnaires will be given an anonymous code and the data they contain entered into a spreadsheet by Eli. Once I have input the data and it has been checked carefully to ensure accuracy the questionnaires will be shredded by Eli. Ensuring confidentiality and anonymity should mean that no harm should result from participating in this research. Part of my covering letter will state that participation is entirely voluntary and if an intended participant does not wish to take part, they are not under any obligation to do so. Another matching employee will be sent a copy of my letter and asked if they would like to receive a copy of my questionnaire. If he or she is willing to complete the questionnaire, he or she will be informed to post it personally into the sealed container.

Resources
I will be responsible for producing and copying the questionnaire. I will pay for the cost of posting these to Ghana. I also have access to IBM SPSS Statistics and am competent in the analytical techniques required to analyse the data and interpret this analysis. The company has kindly agreed to pay the costs of returning the completed questionnaires to Eli. Once I have received these questionnaires I will be responsible for inputting the data into the software to analyse it. There should not be any other resource requirements in order to be able to undertake this research project.
Required:
a) Using the information in the ‘Background’ section of the proposal, what concerns may be raised about the proposed ‘Research design’, ‘Title’, ‘Research question and research objectives’?
b) What further information would be helpful to know in the ‘Participants’ section?
c) Based on the concerns raised in questions 1 and 2, suggest appropriate ‘Title’, ‘Research question and research objectives’ and the ‘Research design’?

Gobblers, a small midwestern clothier, is considering fabricating a new line of men's pants. It needs some help understanding its current male customer base in order to better assess what sizes of pants to offer. The firm presently has demographic data on all 5,000 of its male customers. It has found that the average weight of all its male customers is 195 lbs with a standard deviation of 20 pounds. In addition, the average weight has been found to be normally distributed. Listed below you will find weight information on just 20 randomly sampled customers. Customer Weight 1 200 lbs 2 225 3 180 4 197 5 186 6 239 7 167 8 143 9 242 10 194 11 201 12 185 13 184 14 178 15 181 16 210 17 203 18 194 19 212 20 207
5.) Based upon the population data, what percentage of customers would be expected to weigh above 230 pounds? 6.)Basd upon the population data what is the weight value that you would expect 25 percent of the customers to exceed? 7.) Based upon the population data what is the weight level that you would expect 90% of the customers to exceed? 8.)based upon the population data what percentage of customers would be expected to weigh between 170 and 230 lbs?

I will be creating a simulation of the reception of a bank in C++ (based off the requirements listed below). I plan to develop a test plan that I will use to make sure the key requirements are all covered by a test case.

*I just need help defining how each of the requirements below can be tested. I can use a numbering system to map each requirement to the appropriate test case(s). High level information would be appreciated. I can elaborate on the details. I just need assistance identifying how I can test the requirements below.

Requirements for my simulation are as follows:

• Customers coming at random times
• Each customer will require random amount of service time
• You may have 1-3 tellers based on the # of customers
• Once you have more than 4 customers waiting you need to get the 2^nd teller
• Once you have more than 8 customers waiting you need to get the 3^rd teller
• Once the line size gets smaller, you should remove the tellers in opposite order of their addition (the last one joining should be the first one leaving)
• The reception operates from 10:00 AM until 1:00 PM
• At the end of the day, you need to run the following reports:
  • A list of customers coming along with the type of transactions they requested. This report should be sorted by:
    • Last name of the customer
    • Amount of money involved
    • Time of arrival
  • Average waiting time per customers
  • Average number of customers waiting