Modify the Inventory Program so the application can handle multiple items. Use an array to store the items A ++ (PART 1 TO 6)

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Modify the Inventory Program so the application can handle multiple items. Use an array to store the items. The output should display the information one product at a time,
including the item number, the name of the product, the number of units in stock, the price of each unit, and the value of the inventory of that product. In addition, the output should display the value of the entire inventory.
Create a method to calculate the value of the entire inventory.
Create another method to sort the array items by the name of the product.

2) Modify the Inventory Program by creating a subclass of the product class that uses one additional unique feature of the product you chose (for the DVDs subclass, you could use
movie title, for example). In the subclass, create a method to calculate the value of the inventory of a product with the same name as the method previously created for the
product class. The subclass method should also add a 5% restocking fee to the value of the inventory of that product.
Modify the output to display this additional feature you have chosen and the restocking fee.

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Modern Auditing 8th Edition 11-6 a 11-8 11-9 13-8

11-6 a. Briefly describe three strategies for testing internal controls when information technology is used for significant accounting processing. b. Identify two strategies that might be used to support a low control risk assessment. Discuss the difference between the two strategies. c. Discuss a third audit strategy that might be used to assess control risk at a high level. Explain why this strategy will not support a low control risk assessment. 11-8 What are the advantages and disadvantages of the computer-assisted audit technique known as parallel simulation? 11-9 a. What is the difference between the conventional test data approach and the integrated test facility approach? b. In lieu of traditional testing, what approaches can be used in on-line entry/on-line processing systems? 13-8 List the steps involved in selecting and evaluating a nonstatistical or a statistical sample for tests of controls. Identify the professional judgments that must be made associated


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Modern Auditing 8th Edition

MODERN AUDITING

ASSURANCE SERVICES AND THE

INTEGRITY OF FINANCIAL REPORTING

EIGHTH EDITION

William C. Boynton

Raymond N. Johnson

John Wiley & Sons, Inc.

Seth Bullock, the owner of Bullock Gold Mining, is evaluating a new gold mine in South Dakota.

Seth Bullock, the owner of Bullock Gold Mining, is evaluating a new gold mine in South Dakota. Dan Dority, the company’s geologist, has just finished his analysis of the mine site. He has estimated that the mine would be productive for eight years, after which the gold would be completely mined. Dan has taken an estimate of the gold deposits to Alma Garrett, the company’s financial officer. Alma has been asked by Seth to perform an analysis of the new mine and present her recommendation on whether the company should open the new mine. Alma has used estimates provided by Dan to determine the revenues that could be expected from the mine. She has also projected the expense of opening the mine and the annual operating expenses. If the company opens the mine, it will cost $500 million today, and it will have a cash outflow of $80 million nine years from today in costs associated with closing the mine and reclaiming the area surrounding it. The expected cash flows each year from the mine are shown in the following table. Bullock Mining has a 12 percent required return on all of its gold mines. Year Cash Flow 0 -$500,000,000 1 60,000,000 2 90,000,000 3 170,000,000 4 230,000,000 5 205,000,000 6 140,000,000 7 110,000,000 8 70,000,000 9 -80,000,000

1. Construct a spreadsheet to calculate the payback period, internal rate of return, modified internal rate of return, and net present value of the proposed mine.

2. Based on your analysis, should the company open the mine?

DOES NOT INCLUDE 3rd QUESTION.


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Modify the Payroll Program so that it uses a class to store and retrieve the employee's name, the hourly rate, and the number of hours worked

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Modify the Payroll Program so that it uses a class to store and retrieve the employee's
name, the hourly rate, and the number of hours worked. Use a constructor to initialize the
employee information, and a method within that class to calculate the weekly pay. Once
stop is entered as the employee name, the application should terminate.

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A time series is a collection of data recorded over a period of time, usually monthly, quarterly, or yearly

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T F 1. A time series is a collection of data recorded over a period of time, usually monthly, quarterly, or yearly.

T F 2. Long-term forecasts are usually from one year to more than 10 years into the future.

T F 3. One component of a time series is the secular trend that is the smooth movement of a series over a short period of time, such as a few months or quarters.

T F 4. Episodic and residual variations can be projected into the future.

T F 5. In a time series analysis, the letter ''a'' in the linear trend equation, is the value of Y' when t = 0.

T F 6. In the linear trend equation, t is any value that corresponds with a time period, i.e., month or quarter.

T F 7. If the sales, production or other data over a period of time tend to approximate a straight-line trend, the equation developed by the least squares method cannot be used to forecast sales for a future period.

T F 8. The trend component of a time series is obtained my minimizing the sum of the squares of the errors.

MULTIPLE CHOICES

9- Economic periods of prosperity followed by recession are described as:

A. Secular trend
B. Seasonal variation
C. Cyclical variation
D. Erratic variation

10- What is variation within a year, such as high sales at Christmas and Easter and low sales in January, called?

A. Secular trend
B. Seasonal variation
C. Cyclical variation
D. Variation

11- The following linear trend equation was developed for annual sales from 1995 to 2001 with 1995 the base or zero year. Y’ = 500 + 60t (in $thousands). What are the estimated sales for 2005 (in $ thousands)?

A. $ 500
B. $ 560
C. $1,040
D. $1,100

12- The following linear trend equation was developed for the annual sales of the Jordan Manufacturing Company. Y’ = 500 + 60t (in $ thousands).
How much are sales increasing by?

A. $ 60,000 per year
B. $ 6,000 per month

13- lf the least squares equation for sales data going from 1996 to 2001 is Y' = 10 + 1.3t (in $ millions), what is the value of t and the forecast for 2002?

A. t = 6, y = 17.8

B. t = 0, y = 10.0

C. t = 7, y = 19.1

D. t = 10, y = 0.0

14- If the exports (in $ millions) for the period 1997 through 2001 were $878, $892, $864, $870 and $912 respectively, what are these values called?

A. Moving average

B. Linear trend equation

C. Logarithmic trend equation

D. Time series

15- What is the long-term behavior of a variable over an extended period of time called?

A. Secular trend

B. Seasonal variation

C. Cyclical variation

D. Irregular or erratic variation

16- Why are long range predictions considered essential to managing a firm?

A. To develop plans for possible new plants

B. To have raw materials available for future demand

C. To develop plans for future financing

D. To have enough staffer future needs

E. All of the above

17- In the linear trend equation, how is the average change in the dependent variable represented for every unit change in time?

A. a

B. b

C. l

D. Y'

18- For a time series beginning with 1988 and extending up to 2001, which year would be coded with a one when using the coded method?

A. 1986

B. 1988

C. 1989

D. 1998

19- For an annual time series extending from 1993 through 2001, how many years would be lost in a three year moving average?

A. 2 at the start and 1 at the end

B. 1 at the start and 1 at the end

C. 2 at the start and 0 at the end

D. 0 at the start and 2 at the end

20- Given a linear time series trend, Y' = 5.2 + 3.1t, what is the forecast for 2002 if the time series started in 1995?

A. 23.8

B. 26.9

C. 30.0

D. 21.7


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