TABLE 12-14 The Director of Transportation of a Large Company Is Interested

question 159

Multiple Choice

TABLE 12-14
The director of transportation of a large company is interested in the usage of the company's van pool program. She surveyed 129 of her employees on the usage of the program before and after a campaign to convince her employees to use the service and obtained the following:

She will use this information to perform test using a level of significance of 0.05.
-Referring to Table 12-14, the director now wants to know if the proportion of employees who use the service before the campaign and the proportion of employees who use the service after the campaign are the same. What should be her conclusion?

• A) There is sufficient evidence that the proportion of employees who use the service before the campaign is the same as the proportion of employees who use the service after the campaign.
• B) There is insufficient evidence that the proportion of employees who use the service before the campaign is the same as the proportion of employees who use the service after the campaign.
• C) There is sufficient evidence that the proportion of employees who use the service before the campaign is not the same as the proportion of employees who use the service after the campaign.
• D) There is insufficient evidence that the proportion of employees who use the service before the campaign is not the same as the proportion of employees who use the service after the campaign.

Analyze the legal effect of an illusory promise and gratuitous promises in contract law.

Explain the importance of legal detriment and legal benefit in the context of enforceable contracts.

Understand the role and application of promissory estoppel in contract law.

Recognize the application and exceptions to the doctrine of consideration, including past consideration and moral obligation.

---

Definitions:

End-Of-Period Spreadsheet

A tool used in accounting to gather all the balances of ledger accounts to calculate adjustments and prepare financial statements at the end of an accounting period.

Closing Entry

A journal entry made at the end of an accounting period to transfer balances from temporary accounts to permanent accounts, essentially resetting the temporary accounts for the new period.

Post-Closing

The final phase in the accounting cycle where accounts are prepared for the start of the next period, following the closing entries are made to reset temporary accounts.

Adjusted Trial Balance

A statement listing all accounts and their balances after adjustments, used to verify the equality of debits and credits before preparing financial statements.