1A company recruits 30% of its students from a local university (A) and 70% from distant universities (A'). The resignation rate within two years is 20% for local recruits and 45% for distant recruits. Using Bayes' Law, what is the posterior probability that a student who resigned was recruited from a local university?
2Under a perpetual inventory system, which of the following statements are correct regarding the recording of inventory and related costs? Select all that apply.
3ABC Ltd makes a credit sale of $2,200 including 10% GST. What amount will be credited to the Sales Revenue account?
4What does the term 'FOB shipping point' indicate in a commercial transaction?
5In the context of Bayes' Law, identify the correct components used to calculate the posterior probability P(A|R).
6How is Gross Profit calculated on a functional format income statement?
7Based on the trial balance provided in the text, if Sales Revenue is $92,800, Sales Returns and Allowances are $1,300, and Sales Discounts are $500, calculate the Net Sales Revenue.
8Which of the following describes the Rate of Inventory Turnover?
9When using the periodic inventory system, which accounts are used to calculate the Cost of Sales? Select all that apply.
10An actual physical count reveals $42,000 of inventory on hand, while the perpetual records show $50,000. What is the correct adjusting journal entry?
