Exhibit 12

question 93

Multiple Choice

Exhibit 12.2 A university has six colleges and takes a poll to gauge student support for a tuition increase.The university wants to insure each college is represented fairly.The below table shows the observed number students that participate in the poll from each college and the actual proportion of students in each college. Refer to Exhibit 12.2.At the 1% significance level,the critical value is:

• A)9.236
• B)11.070
• C)12.833
• D)15.086

Comprehend the role of financial documents in business planning, including cash-flow statements, balance sheets, and profit-and-loss statements.

Realize the significance of break-even analysis in financial planning.

Identify common mistakes in writing business plans and how to avoid them.

Recognize the importance of professional assistance and resources available for business plan development.

---

Definitions:

Liquidation

The process of bringing a business to an end and distributing its assets to claimants, usually when the company is unable to meet its financial obligations.

LIFO

Last In, First Out, an inventory accounting method where the last items added to inventory are the first ones to be used or sold, affecting cost of goods sold and inventory valuation.

Replacement Cost

The cost to replace an asset with another of similar nature and quality in its current condition.

Current Revenues

Income that a company receives from its normal business activities, typically from the sale of goods and services, within the current accounting period.