The Internal Auditing Staff of a Local Manufacturing Company Performs

question 2

Multiple Choice

The internal auditing staff of a local manufacturing company performs a sample audit each quarter to estimate the proportion of accounts that are more than 90 days overdue (delinquent) .The historical records of the company show that over the past 8 years,the average has been that 14 percent of the accounts have been delinquent.For this quarter,the auditing staff randomly selected 250 customer accounts.What are the mean and the standard deviation of the sampling distribution of ?

• A)14 and 250
• B).14 and .1204
• C)35 and 5.486
• D).14 and .0219
• E)35 and 30.1

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Definitions:

Breach of Contract

Failing to carry out any term in a contract, regardless of it being written or verbal, with no proper legal excuse.

Beneficial Contracts of Service

Beneficial contracts of service are agreements that provide favorable terms or conditions to one or more parties, often relating to employment or services rendered.

Minors

Individuals who are under the legal age of majority, typically considered to be under 18 years old, having restricted rights and responsibilities in legal contexts.

Age of Majority

The legally defined age at which an individual is considered an adult and is responsible for his or her actions and eligible to vote, among other adult rights.