Exhibit 6-6 The Life Expectancy of a Particular Brand of Tire Is

question 87

Multiple Choice

Exhibit 6-6
The life expectancy of a particular brand of tire is normally distributed with a mean of 40,000 and a standard deviation of 5,000 miles.
-Refer to Exhibit 6-6. What percentage of tires will have a life of 34,000 to 46,000 miles?

• A)38.49%
• B)76.98%
• C)50%
• D)None of the alternative answers is correct.

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Definitions:

Reconciliation Procedure

A process used to ensure that two sets of records (usually the balances of two accounts) are in agreement, identifying discrepancies and reasons for them.

Internal Control

Internal control constitutes the procedures and mechanisms implemented by a company to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.

Cash Disbursements Procedure

A systematic method followed by a business to process and document the outflow of cash for various expenditures.

Bank Error

Mistakes made by a bank in recording transactions in a customer's account, requiring correction to reflect the accurate balance.