An Error in Ending Inventory in 2011 Will Cause Ending

question 127

True/False

An error in ending inventory in 2011 will cause ending inventory in 2012 to be misstated as well.

---

Definitions:

Acceptance Sampling

A method of measuring random samples of lots or batches of products against predetermined standards.

Assignable Variation

Variation in a production process that can be traced to specific causes.

Operating Characteristics

These refer to the performance metrics and behavior of a system under specified conditions.