Exhibit 16

question 21

Multiple Choice

Exhibit 16.3 Stella would like to determine the amount of the average purchase at her software store with a total precision of $10,a historical average purchase variance of $150,and at a 95% confidence level.
Refer to Exhibit 16.3.If Stella wishes to increase the total precision to $5,what sample size is needed?

• A)8
• B)54
• C)48
• D)96
• E)24

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Definitions:

International Accounting Standards

A set of accounting guidelines that aim to standardize accounting practices across countries, facilitating the comparison of financial statements globally.

Multinational Corporations

Large corporations that operate and provide goods or services in multiple countries.

Information Technology

The study or use of systems (especially computers and telecommunications) for storing, retrieving, and sending information.

International Standards

These are agreements set by international organizations that dictate certain specifications, guidelines, or characteristics to ensure products, services, and systems are safe, reliable, and interchangeable worldwide.