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1) THE COST PRINCIPLE REQUIRES THAT WHEN ASSETS ARE ACQUIRED, THEY BE RECORDED AT __________. A. LIST PRICE B. EXCHANGE PRICE PAID C. SELLING PRICE D. APPRAISAL VALUE
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BUS 475 Final Exam 1
BUS 475 Final Exam 1 A+
1) The cost principle requires that when assets are acquired, they be recorded at __________.
A. list price
B. exchange price paid
C. selling price
D. appraisal value
2) “Generally accepted” in the phrase generally accepted accounting principles means that the principles __________.
A. have substantial authoritative support
B. have been approved for use by the managements of business firms
C. have been approved by the Internal Revenue Service
D. are proven theories of accounting
3) The standards and rules that are recognized as a general guide for financial reporting are called _______.
A. generally accepted accounting principles
B. generally accepted accounting standards
C. standards of financial reporting
D. operating guidelines
4) Sam’s Used Cars uses the specific identification method of costing inventory. During March, Sam purchased three cars for $6,000, $7,500, and $9,750, respectively. During March, two cars are sold for $9,000 each. Sam determines that at March 31, the $9,750 car is still on hand. What is Sam’s gross profit for March?
A. $4,500
B. $5,250
C. $750
D. $8,250
5) Hess, Inc. sells a single product with a contribution margin of $12 per unit and fixed costs of $74,400 and sales for the current year of $100,000. How much is Hess’s break even point?
A. $25,600
B. 4,600 units
C. 2,133 units
D. 6,200 units
6) As Plant Controller, you are trying to determine which costs over which you have the most control on a day to day basis. Your goal is to achieve better profitability. The Plant Operations Manager suggests that overhead is the easiest area to directly reduce costs. Which of the following items would be classified as manufacturing overhead?
A. General corporate liability insurance
B. Cost of landscaping the corporate office
C. The western division’s vice president’s salary
D. Factory janitor
7) What is the preparation of reports for each level of responsibility in the company’s organization chart called?
A. Static reporting
B. Master budgeting analysis
C. Exception reporting
D. Responsibility reporting
8) Disney’s variable costs are 30% of sales. The company is contemplating an advertising campaign that will cost $22,000. If sales are expected to increase $40,000, by how much will the company’s net income increase?
A. $6,000
B. $12,000
C. $28,000
D. $18,000
9) The cost of an asset and its fair market value are __________.
A. the same on the date of acquisition
B. never the same
C. the same when the asset is sold
D. irrelevant when the asset is used by the business in its operations
10) Which one of the following is a product cost?
A. Office salaries
B. Indirect labor
C. Advertising costs
D. Sales person’s salaries
11) What exists when budgeted costs exceed actual results?
A. A favorable difference
B. A budgeting error
C. An unfavorable difference
D. An excess profit
12) The income statement and balance sheet columns of Pine Company’s worksheet reflects the following totals:
Income Statement Balance Sheet
Dr. Cr. Dr. Cr.
Totals $58,000 $48,000 $34,000 $44,000
Closing entries are necessary for __________.
A. permanent or real accounts only
B. permanent accounts only
C. both permanent and temporary accounts
D. temporary accounts only
13) Managerial accounting __________.
A. is governed by generally accepted accounting principles
B. pertains to the entity as a whole and is highly aggregated
C. places emphasis on special-purpose information
D. is concerned with costing products
14) H55 Company sells two products, beer and wine. Beer has a 10 percent profit margin and wine has a 12 percent profit margin. Beer has a 27 percent contribution margin and wine has a 25 percent contribution margin. If other factors are equal, which product should H55 push to customers?
A. Wine
B. It should sell an equal quantity of both
C. Selling either results in the same additional income for the company
D. Beer
15) Lekeisha’s income exceeds her expenditures. Lekeisha is a __________.
A. saver who demands money from the financial system.
B.saver who supplies money to the financial system.
C. borrower who demands money from the financial system.
D. borrower who demands money from the financial system.
16) Maurice receives $100 as a birthday gift. In deciding how to spend the money, he narrows his options down to four choices: Option A, Option B, Option C, and Option D. Each option costs $100. Finally he decides on Option B. The opportunity cost of this decision is __________.
A. the value to Maurice of Options A, C and D combined
B. $100
C. $300
D. the value to Maurice of the option he would have chosen had Option B not been available
17) A production possibilities frontier will be a straight line if __________.
A. the economy is producing efficiently
B. the economy is engaged in trade with at least one other economy
C. increasing the production of one good by x units entails no opportunity cost in terms of the other good
D. increasing the production of one good by x units entails a constant opportunity cost in terms of the other good
18) In economics, the cost of something is __________.
A. often impossible to quantify, even in principle
B. the dollar amount of obtaining it
C. always measured in units of time given up to get it
D. what you give up to get it
19) A tax on an imported good is called a __________.
A. trade tax
B. tariff
C. supply tax
D. quota
20) Which of the following statements about GDP is correct?
A. Money continuously flows from households to government and then back to households, and GDP measures this flow of money.
B. GDP measures two things at once: the total income of everyone in the economy and the unemployment rate.
C. GDP is to a nation’s economy as household income is to a household.
D. GDP increases if the total population increases.
21) In computing GDP, market prices are used to value final goods and services because __________.
A. market prices do not change much over time, so it is easy to make comparisons between years
B. market prices reflect the values of goods and services
C. if market prices are out of line with how people value goods, the government sets price ceilings and price floors
D. Market prices are not used in computing GDP
22) Which of the following statements about GDP is correct?
A. Money continuously flows from households to government and then back to households, and GDP measures this flow of money.
B. GDP measures two things at once: the total income of everyone in the economy and the unemployment rate.
C. GDP is to a nation’s economy as household income is to a household.
D. GDP increases if the total population increases.
23) Which of the following is not correct?
A. In 2005, the U.S. government had a deficit.
B. Deficits give people the opportunity to consume at the expense of their children, but they do not require them to do so.
C. A potential cost of deficits is that they reduce national saving, thereby reducing growth of the capital stock and output growth.
D. The U.S. debt per-person is large compared with average lifetime income.
24) The part of the balance of payments account that lists all long-term flows of payments is called the:
A. financial and capital account.
B. government financial account.
C. balance of trade.
D. current account.
25) Edward Prescott and Finn Kydland won the Nobel Prize in Economics in 2004. One of their contributions was to argue that if a central bank could convince people to expect zero inflation, then the Fed would be tempted to raise output by increasing inflation. This possibility is known as __________.
A. the monetary policy reaction lag
B. the sacrifice ratio dilemma
C. the time inconsistency of policy
D. inflation targeting
26) In general, the longest lag for __________.
A. both fiscal and monetary policy is the time it takes for policy to affect aggregate demand
B. monetary policy is the time it takes to change policy, while for fiscal policy the longest lag is the time it takes for policy to affect aggregate demand
C. fiscal policy is the time it takes to change policy, while for monetary policy the longest lag is the time it takes for policy to affect aggregate demand
D. both fiscal and monetary policy is the time it takes to change policy
27) Consider two items that might be included in GDP: (1) The estimated rental value of owner-occupied housing; and (2) purchases of newly-constructed homes. How are these two items accounted for when GDP is calculated?
A. Only item (2) is included in GDP and it is included in the investment component.
B. Item (1) is included in the consumption component, while item (2) is included in the investment component.
C. Item (1) is included in the investment component, while item (2) is included in the consumption component.
D. Both item (1) and item (2) are included in the consumption component of GDP.
28) Managers will utilize __________ skills with increasing frequency as they rise within an organization.
A. Interpersonal and communication
B. Conceptual and decision
C. Professional
D. Technical
E. Professional
29) Which of these represent skills that managers need?
A. Technical, interpersonal & communication and conceptual & decision making
B. Professional, technical and interpersonal & communication
C. Conceptual & decision making, professional and technical
D. Interpersonal, quantitative, and professional
E. Interpersonal & communication, conceptual & decision making and professional
30) Building a dynamic organization is another way of describing which function of management?
A. Organizing
B. Leading
C. Controlling
D. Staffing
31) Your roommate is interested in starting a business and everybody has been giving him different information about being an entrepreneur. Since you have been studying about entrepreneurship and new ventures, which of these would you tell him is true?
A. Entrepreneurs are their own bosses and completely independent
B. Anyone can start a business
C. Successful entrepreneurs take very careful, calculated risks
D. Money should not be considered a start-up ingredient
32) The term used to refer to all kinds of differences including religious affiliation, age, disability status, economic class and lifestyle in addition to gender, race, ethnicity and nationality is:
A. Employment
B. Diversity
C. Recruiting
D. Selection
33) A manager’s ability to stimulate people to be high performers is referred to as:
A. Organizing
B. Planning
C. Leading
D. Controlling
E. Supervising
34) A series of quality standards developed by a committee working under the International Organization for Standardization to improve total quality in all businesses for the benefit of both producers and consumers is:
A. Just-in-time control (JIT)
B. Customer-based integration
C. Computer-integrated manufacturing (CIM)
D. Total quality management
E. ISO 9000
35) Japanese manufacturers’ kaizen (continuous improvement) programs enable them to maintain:
A. A strategic alliance
B. Positive working relationships with all employees
C. Larger, faster facilities
D. A homogeneous workforce
E. A Learning advantage over their competition
36) Listening to employee suggestions, gaining support for organizational objectives and fostering an atmosphere of teamwork are all considered:
A. Interpersonal/communication skills
B. Diagnostic skills
C. Professional skills
D. Conceptual
37) The basic components of an effective sexual harassment policy include the following EXCEPT:
A. To act immediately when employees complain of sexual harassment
B. To establish a formal complaint procedure
C. To develop an organization wide policy on sexual harassment
D. To establish a means for ongoing training
E. To establish a performance appraisal system
38) Teams that operate separately from the regular work structure and exist temporarily are known as:
A. Parallel teams
B. Self-designing teams
C. Transnational teams
D. Management teams
39) The Aquatic Center, Inc. periodically reviews the goals of the company. During the process, The Aquatic Center managers analyze their current strategies as compared to their competitors, determine goals that they will pursue and decide upon specific actions for each area of the company to take in pursuit of these goals. The Aquatic Center managers have been engaged in the management function of:
A. Planning
B. Organizing
C. Goal Coordination
D. Controlling
E. Staffing
40) As related to managing of human resources, diversity refers to:
A. Differences in recruiting methods (such as newspapers, schools, flyers, magazines, agencies, etc.)
B. Differences in demographics (such as age, race, gender, disability status, lifestyle, veteran status, educational level, etc.)
C. Differences in retention strategies (such as training, hiring, incentives, etc)
D. Differences in employee benefit plans (such as pensions, insurance, vacations, memberships, etc.)
41) __________ is the process of working with people and resources to accomplish organizational goals.
A. Supervising
B. Planning
C. Decision making
D. Controlling
E. Management
42) Twelve randomly-chosen students were asked how many times they had missed class during a certain semester, with this result: 2, 1, 5, 1, 1, 3, 4, 3, 1, 1, 5, 18.
For this sample, the median is _____.
A. 3.5
B. 3
C. 2
D. 2.5
43) Use the following table to answer question:
P(S | W) is approximately _____.
A. .40
B. .12
C. .58
D. .30
44) Use the following table to answer question:
P(M A) is approximately _____.
A. .25
B. .125
C. .625
D. .50
45) Dullco Manufacturing claims that its alkaline batteries last forty hours on average in a certain type of portable CD player. Tests on a random sample of 18 batteries showed a mean battery life of 37.8 hours with a standard deviation of 5.4 hours.
In determining the p-value for reporting the study’s findings, which of the following is true?
A. The p-value is less than .05.
B. The p-value is equal to .05.
C. The p-value is greater than .05.
D. The p-value cannot be determined without specifying α.
46) William used a sample of 68 U.S. cities to estimate the relationship between Crime (annual property crimes per 100,000 persons) and Income (median income per capita). His estimated regression equation was Crime = 428 + .050 Income.
Which outcomes would be likely in a bivariate regression on 45 randomly chosen U.S. cities in 2005 with
Y = number of robberies in each city (thousands of robberies) and
X = size of police force in each city (thousands of police)?
A. High R2 (due to city size).
B. Autocorrelation.
C. No correlation.
D. Positive slope (due to city size).
47) Twelve randomly-chosen students were asked how many times they had missed class during a certain semester, with this result: 2, 1, 5, 1, 1, 3, 4, 3, 1, 1, 5, 18.
For this sample, which measure of central tendency is least representative of the “typical” student?
A. Mean
B. Midrange
C. Median
D. Mode
48) Likely reasons for inaccurate control limits would include which of the following?
A. Process variation was not zero, as expected.
B. The engineers were underpaid for their work.
C. The engineering parameter for variance is unknown.
D. There was insufficient preliminary sampling.
49) You are faced with a linear programming objective function of:
Max P = $20X + $30Y
and constraints of:
3X + 4Y = 24 (Constraint A)
5X – Y = 18 (Constraint B)
You discover that the shadow price for Constraint A is 7.5 and the shadow price for Constraint B is 0. Which of these statements is TRUE?
A. For every additional unit of the objective function you create, you lose 0 units of B.
B. The most you would want to pay for an additional unit of A would be $7.50.
C. You can change quantities of X and Y at no cost for Constraint B.
D. For every additional unit of the objective function you create, the price of A rises by $7.50.
50) A project has three paths. A–B–C has a length of 25 days. A–D–C has a length of 15 days. Finally, A–E–C has a length of 20 days. Which one of the following statements is TRUE?
A. The expected duration of this project is 25 days.
B. The expected duration of this project is 25 + 15 + 20 = 60 days.
C. A–D–C is the critical path.
D. A–B–C has the most slack.
51) Which one of the following statements concerning production and staffing plans is best?
A. A staffing plan is the intermediate link between the business plan and the master production schedule.
B. A master production schedule is a projected statement of income, costs, and profits.
C. Aggregation can be performed along three dimensions: product families, labor, and time.
D. Production plans are based primarily on information from the master production plan
52) While glancing over the sensitivity report, you note that the stitching labor has a shadow price of $10 and a lower limit of 24 hours with an upper limit of 36 hours. If your original right hand value for stitching labor was 30 hours, you know that:
A. you would lose $80 if one of your workers missed an entire 8 hour shift.
B. you can send someone home 6 hours early and still pay them the $60 they would have earned while on the clock.
C. the next worker that offers to work an extra 8 hours should receive at least $80.
D. you would be willing pay up to $60 for someone to work another 6 hours.
53) The costs of delivering products in the _____ channel are much higher than delivering products in the _____ channel.
A. digital, e-commerce
B. physical, digital
C. e-commerce, digital
D. physical, financial
E. digital, physical
54) When customers access a Web site and make purchases, they generate __________.
A. Information
B. Web data
C. Hyperlink data
D. Clickstream data
E. Tracking cookies
55) _____ is the integration of economic, social, cultural, and ecological facets of life, enabled by information.
A. nationalization
B. business environment
C. regionalization
D. globalization
56) Various organizations that promote fair and responsible use of information systems often develop ________.
A. a code of ethics
B. a strategic plan
C. a mission statement
D. responsibility charters
E. a goals outline
57) What is _____ is not necessarily _____.
A. Ethical, legal
B. Unethical, illegal
C. Ethical, illegal
D. Unethical, legal
58) _____ provides users with a view of what is happening, where _____ addresses why it is happening.
A. Multidimensional data analysis, data mining
B. Multidimensional data analysis, neural networks
C. Data mining, expert system
D. Data mining, multidimensional data analysis
E. Multidimensional data analysis, structured query language
59) Computer support is greatest for which of the following problems?
A. Unstructured and operational control
B. Structured and operational control
C. Semistructured and management control
D. Structured and management control
E. Semistructured and strategic planning
60) The management cockpit best exemplifies which type of system?
A. Group decision support system
B. Functional area information system
C. Digital dashboard
D. Expert system
E. Decision support system
61) _____ is the efficient and effective execution of specific tasks.
A. Management control
B. Strategic planning
C. Expertise
D. Operational control
62) Geocoding is __________.
A. integrating organizational transactions with spatially oriented databases
B. integrating maps with spatially oriented databases and other databases
C. encrypting spatial information
D. accessing geographical information
E. programming spatially oriented databases
63) At 8% compounded annually, how long will it take $750 to double?
A. 48 months
B. 6.5 years
C. 9 years
D. 12 years
64) Which of the following represents an attempt to measure the earnings of the firm’s operations over a given time period?
A. Cash flow statement
B. Income statement
C. Quarterly statement
D. Balance sheet
65) A machine costs $1,000, has a three-year life, and has an estimated salvage value of $100. It will generate after-tax annual cash flows (ACF) of $600 a year, starting next year. If your required rate of return for the project is 10%, what is the NPV of this investment? (Round your answerwer to the nearest $10.)
A. $570
B. -$150
C. $490
D. $900
66) Disadvantages of using current liabilities as opposed to long-term debt include:
A. uncertainty of future liabilities
B. greater risk of illiquidity, and uncertainty of interest costs
C. decreased risk of liquidity
D. higher cash flow exposure
E. certainty of interest costs
67) Petrified Forest Skin Care, Inc. pays an annual perpetual dividend of $1.70 per share. If the stock is currently selling for $21.25 per share, what is the expected rate of return on this stock?
A. 12.5%
B. 8.0%
C. 13.6%
D. 36.13%
68) Which of the following is most consistent with the hedging principle in working capital management?
A. Fixed assets should be financed with short-term notes payable.
B. Inventory should be financed with preferred stock.
C. Accounts receivable should be financed with short-term lines of credit.
D. Borrow on a floating rate basis to finance investments in permanent assets.
69) An increase in future value can be caused by an increase in the __________.
A. starting value
B. annual interest rate and number of compounding periods
C. rate of return
D. dividends paid
E. original amount invested
70) If the quote for a forward exchange contract is greater than the computed price, the forward contract is:
A. undervalued.
B. a good buy.
C. at equilibrium.
D. overvalued.
71) Your company is considering an investment in a project which would require an initial outlay of $300,000 and produce expected cash flows in Years 1 through 5 of $87,385 per year. You have determined that the current after-tax cost of the firm’s capital (required rate of return) for each source of financing is as follows:
Cost of debt 8%
Cost of preferred stock 12%
Cost of common stock 16%
Long-term debt currently makes up 20% of the capital structure, preferred stock 10%, and common stock
70%. What is the net present value of this project?
A. $1,568
B. $463
C. $1,241
D. $871
72) Suppose you determine that the NPV of a project is $1,525,855. What does that mean?
A. The project’s IRR would have to be less that the firm’s discount rate.
B. In all cases, investing in this project would be better than investing in a project that has an NPV of $850,000.
C. Under all conditions, the project’s payback would be less than the profitability index.
D. The project would add value to the firm.
73) The common stockholders are most concerned with:
A. the spread between the return generated on new investments and the investor’s required rate of return.
B. the percentage of profits retained.
C. the size of the firm’s beginning earnings per share.
D. the risk of the investment.
74) PepsiCo calculates unlevered betas for each peer group in order to:
A. eliminate competitive factors.
B. eliminate judgment factors.
C. eliminate different financial risks.
D. eliminate different business risks.
75) Which of the following best represents operating income?
A. Earnings before interest and taxes
B. Income from discontinued operations
C. Income after financing activities
D. Income from capital gains
76) In comparison to the buying of final consumers, the purchasing of organizational buyers:
A. is always based on competitive bids from multiple suppliers.
B. is always emotional.
C. is strictly economic and not at all emotional.
D. leans basically toward economy, quality, and dependability.
77) The basic objective of the U.S. market-directed economic system is to:
A. satisfy consumer needs as they–the consumers–see them.
B. minimize inflation.
C. achieve an annual growth rate of at least 10 percent.
D. provide each person with an equal share of the economic output.
E. make the most efficient use of the country’s resources.
78) Comparing GDP for foreign countries can help a marketing manager evaluate potential markets if the manager remembers that:
A. income tends to be evenly distributed among consumers in most countries.
B. GDP estimates may not be very accurate for very different cultures and economies.
C. GDP measures show the degree of competition in a market.
D. GDP measures show people’s tendency to buy particular products.
E. Other countries most likely don’t use the US Dollar as their primary currency.
79) A firm’s “marketing mix” decision areas would NOT include:
A. Price
B. People
C. Product
D. Promotion
80) __________ is a marketing management aid which refers to how customers think about proposed and/or present brands in a market.
A. Customer relationship management (CRM)
B. Market scanning
C. Positioning
D. Brand familiarity
81) The “four Ps” of a marketing mix are:
A. Production, Personnel, Price, and Physical Distribution
B. Promotion, Production, Price, and People
C. Potential customers, Product, Price, and Personal Selling
D. Product, Price, Promotion, and Profit
E. Product, Place, Promotion, and Price
82) When evaluating macro-marketing:
A. one must consider the society’s role in the marketing system.
B. one must determine how efficiently the society’s resources are used.
C. the best approach is to consider the profit generated by individual firms within the overall system.
D. the evaluation is necessarily subjective.
E. one must consider each individual firm’s role in the marketing system.
83) A cluster analysis of the “toothpaste market” would probably show that:
A. most consumers are concerned about cost.
B. most consumers are mainly concerned about brightness of teeth.
C. the broad product-market can be served effectively with one marketing mix.
D. factors such as taste, price, and “sex appeal” are not important.
E. different market segments seek different product benefits.
84) Clustering techniques applied to segmenting markets __________.
A. doesn’t apply to demographic data
B. eliminate the need for marketing managers to specify in advance what dimensions might be relevant for grouping consumers
C. remove the need for managerial judgment
D. usually require computers to group people based on data from market research
85) The three basic tasks of ALL managers, according to the text, are:
A. planning, staffing, and evaluating.
B. marketing, production, and finance.
C. execution, feedback, and control.
D. hiring, training, and compensating.
E. planning, implementation, and control.
86) The difference between target marketing and mass marketing is that target marketing:
A) means focusing on a small market.
B) focuses on short-run objectives, while mass marketing focuses on long-run objectives.
C) focuses on specific customers, while mass marketing aims at an entire market.
D) does not rely on e-commerce but mass marketing does.
E) aims at increased sales, while mass marketing focuses on increased profits.
87) When one considers the strategy decisions organized by the four Ps, branding is related to packaging as:
A. production is to marketing.
B. personal selling is to mass selling.
C. pricing is to promotion.
D. branding is to pricing.
E. store location is to sales force selection.
88) Which of the following statements is not true under the Fair Labor Standards Act?
A) Children under 14 cannot work at all, except on farms.
B) Children ages 14 and 15 may work limited hours in nonhazardous jobs.
C) Children ages 16 and 17 may work unlimited hours in nonhazardous jobs.
D) Persons age 18 or over may work unlimited hours in nonhazardous jobs.
E) Persons age 18 or over may work unlimited hours in hazardous jobs.
89) Probable cause is most directly associated with which step of the criminal process?
A. Indictment
B. Arrest
C. Plea bargaining
D. Arraignment
E. Jury deliberations
90) Which of the following statements is generally not true about state intermediate appellate courts?
A. The appellate court allows the parties to make oral arguments outlining their position.
B. The appellate court allows the parties to introduce new evidence so long as it was not previously introduced at the original trial.
C. The appellate court reviews the record of the trial court.
D. The appellate court usually allows the parties to file briefs outlining support for their positions.
91) Which of the following terms need not be disclosed under Truth-in-Lending Act?
A. The cash price of the product.
B. The annual percentage rate (APR).
C. The total finance charge.
D. The terms available from competitors.
E. Amount of payments.
92) Which of the following activities by an administrative agency requires public notice and participation?
A. Substantive rule making and interpretive rule making only.
B. Substantive rule making only.
C. Statements of policy only.
D. Substantive rule making and statements of policy only.
E. Substantive rule making, interpretive rule making, and statements of policy.
93) Which of the following is not one of the Caux Round Table Principles for International Business?
A. Responsibility of Business Beyond Shareholders Toward Stakeholders.
B. Respect for the Environment.
C. Avoidance of Illicit Operations.
D. Promotion of Multiculturalism.
E. Support for Multilateral Trade.
94) The theory of business social responsibility that holds that a business owes duties solely to produce the highest return for its shareholders is:
A. The moral minimum theory.
B. The maximizing profits theory.
C. The stakeholder interest theory.
D. The corporate citizenship theory.
E. The social audit theory.
95) Which social responsibility theory has been advocated by Novel Prizewinning economist Milton Friedman?
A. Corporate social audit
B. Moral minimum
C. Stakeholder interest
D. Corporate citizenship
E. Maximizing profits
96) Which of the following lists, in descending priority, of sources considered by most courts in settling questions of international law?
A. Treaties, customs, general principles of law, judicial decisions and teachings
B. Conventions, comity, customs, general principles of law
C. Treaties, customs, conventions, comity
D. Conventions, treaties, comity, customs
E. Treaties, customs, conventions, comity
97) If the value of the collateral is less than the debt owed to the secured party, then:
A. The secured party gets to take some other property as collateral so his entire debt is secured.
B. The secured party is unsecured for the excess of debt over the value of the security.
C. The secured party loses the excess of debt over the value of the security.
D. The secured party is still secured for the entire debt owed him.
E. The secured party is unsecured for the entire debt.
98) One study found that manufacturing labor costs about _____ an hour in China, compared to _____ dollars in the United States.
A. Less than $1; about 40
B. Less than $1; about 15
C. About $2; about 15
D. Less than $1; about 25
E. $2; about 25
99) Which country does the text describe as becoming the largest producer and consumer of many of the world’s goods?
A. Canada
B. China
C. Ecuador
D. Mexico
100) Although the U.S. has had a longstanding agreement with _____ after the passage of NAFTA, _____ became the United States’ second largest trading partner.
A. Canada, Mexico
B. Mexico, Venezuela
C. Canada, Venezuela
D. Great Britain, Paraguay
E. Mexico, Canada
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ECON FINAL I AM IN NEED OF SOMEONE WHO CAN DO A FINAL EXAM, QUESTIONS ARE NOT PROVIDED UNTIL FINAL HAS STARTED AND ONLY HAVE 2.5 HOURS TO COMPLETE THE ENTIRE EXAM…
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ECON FINAL
I am in need of someone who can do a Final Exam, questions are not provided until final has started and only have 2.5 hours to complete the entire exam…
There are nine essay questions (six @ 30 points each; three @ 40 points each),
If you can take care of this and finish in the time frame needed….
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QUESTION 1: A CONTEMPORARY ISSUE FACING TECHNOLOGY INNOVATION TODAY IS THE TENSION BETWEEN PERSONAL PRIVACY AND PUBLIC SECURITY. DISCUSS IN-DEPTH HOW THIS ISSUE EFFECTS AND DRIVES THE DEVELOPMENT OF DEVICES OR SOFTWARE. PROVIDE AT LEAST ONE EXAMPLE.
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ethics homework
Question 1:
A contemporary issue facing technology innovation today is the tension between personal privacy and public security. Discuss in-depth how this issue effects and drives the development of devices or software. Provide at least one example. (Write at least 2 – 3 paragraphs)
Question 2:
Consider the following case study and answer the questions below.
An electric car is an automobile that uses electrical energy stored in batteries or another energy storage device that is propelled by one or more electric motors. Electric cars can significantly reduce air pollution, as they do not emit tailpipe pollutants and reduce in greenhouse gas and other emissions and reduce dependence on foreign oil. But widespread adoption of electric cars causes higher cost, lack of recharging infrastructure outside of home charging and range anxiety which is the driver’s fear that the electric energy stored in the batteries will run out before the driver reaches their destination, due to the limited range of the existing electric cars. The United States government also views energy efficient vehicles as environmentally friendly alternatives to vehicles that run purely on gasoline and provided tax credits to increase the popularity.
Identify and analyze the possible impacts (political, environmental, health, safety, cultural, economic) of the electric car technology on society (including individual, local, regional, or global context)? (Write 1 paragraph)
Engineers and technologists have a responsibility to add to the public discourse on technology issues (section 4.8 of your text). Choose the perspective of either an engineer working for a firm developing an electric car or an engineer working for an oil company. Address one of the ethical issues which arise from this impact using ideas presented throughout the text (environmentalism, cost-benefit analysis, social values, etc.). (Write 1 paragraph)
Question 3:
Consider a situation where “David” works for a US based firm in another Country “XYZ”. The government in Country XYZ assesses taxes at an exorbitant rate as the firms are expected to report only 70% of their actual earnings. If a firm reported its actual earnings, the taxes would force it out of business. David’s firm is considering whether it should adopt the local practice of dishonestly reporting its profits to Country XYZ, even though it would be illegal to do this in the United States. Whatever the decision, the firm will continue to report its profits honestly to the US government.
Describe ethical issues raised in this case? Be sure to address cross-cultural nature of the issues. (Write 1 paragraph)
Using the ethical approaches found in the text for cross-cultural ethics, do you think there are any creative middle way solutions? If so, discuss one of them. Identify the positive and negative consequences that would result from this solution. (Write 1 paragraph)
Grading Rubric
Question 1:
Discusses contemporary issues facing industry, engineering, a given technology, or a specific technical solution (socio-economic, environmental, cultural, corporate culture, industrial competition, political, health and safety)
Excellent
Competent
Needs Improvement
Discusses comprehensively or in-depth the impact of a contemporary issue on engineering or a technology or technical solution.
Discusses the impact of a contemporary issue which impacts engineering, a technology, or a solution but the analysis is somewhat cursory, lacking depth or consideration of the broader factors or context.
Either attempts to discuss a contemporary issue but fails to relate the issue to engineering or a technology or demonstrates a lack of awareness of the contemporary issue.
30
18 – 25
8 – 15
Sub – total:
30
Question 2:
Determines possible impacts (political, environmental, health, safety, cultural, economic) of a technical solution on society (individual, local, regional, or global context)
Excellent
Competent
Needs Improvement
Analyzes and evaluates both short term and long term impacts of a solution on all relevant aspects and levels of society
Analyzes the impact of a solution on some aspects or levels of society but may focus on the immediate user/society or the short-term risks and benefits (e.g., may not take into consideration cultural aspect or regional or global context)
Little or no consideration of the risks, benefits, or implications to society
30
18 – 25
8 – 15
Evaluates the case study to answer the questions
5
Sub – total:
35
Question 3:
Recognizes impact of diverse social and cultural elements on ethical issues and solutions
Excellent
Competent
Needs Improvement
Identifies cross-cultural ethical issues and articulates social and cultural impacts in defining the issues; applies ethical approaches consistent with boundary-crossing problems; can articulate several positive and negative resulting consequences.
Identifies cross-cultural ethical issues and articulates at least some of the social and cultural impacts in defining the issues; applies ethical approaches consistent with boundary-crossing problems in a simple manner with limited analysis of the consequences.
If identifies ethical issues, may not be able to relate the issues to social or cultural differences; uses ethical decision-making approaches applicable in their own culture or own opinion.
30
18 – 25
8 – 15
Evaluates the case study to answer the questions
5
Sub – total:
35
Overall total100
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1) WHEN CONVERTIBLE DEBT IS RETIRED BY THE ISSUER, ANY MATERIAL DIFFERENCE BETWEEN THE CASH ACQUISITION PRICE AND THE CARRYING AMOUNT OF THE DEBT SHOULD BE
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ACC 423 Final Exam
ACC 423 Final Exam
Rating A
1) When convertible debt is retired by the issuer, any material difference between the cash acquisition price and
the carrying amount of the debt should be
A. reflected currently in income, but NOT as an extraordinary item.
B. treated as an adjustment of additional paid-in capital.
C. reflected currently in income as an extraordinary item.
D. treated as a prior period adjustment.
2) The conversion of preferred stock may be recorded by the
A. incremental method.
B. par value method.
C. book value method.
D. market value method.
3) The conversion of preferred stock into common stock requires that any excess of the par value of the common shares
issued over the carrying amount of the preferred being converted should be
A. reflected currently in income, but NOT as an extraordinary item.
B. treated as a direct reduction of retained earnings.
C. reflected currently in income as an extraordinary item.
D. treated as a prior period adjustment.
4) When a corporation issues its capital stock in payment for services, the least appropriate basis for recording the transaction is the
A. market value of the services received.
B. Any of these provides an appropriate basis for recording the transaction.
C. par value of the shares issued.
D. market value of the shares issued.
5) The accounting problem in a lump sum issuance is the allocation of proceeds between the classes of securities. An acceptable
method of allocation is the
A. pro forma method.
B. either the proportional method or the incremental method.
C. proportional method.
D. incremental method.
6) Which of the following represents the total number of shares that a corporation may issue under the terms of its charter?
A. authorized shares
B. outstanding shares
C. issued shares
D. unissued shares
7) Wilson Corp. purchased its own par value stock on January 1, 2007 for $20,000 and debited the treasury stock account for the purchase price.
The stock was subsequently sold for $12,000. The $8,000 difference between the cost and sales price should be recorded as a deduction from
A. additional paid-in capital to the extent that previous net “gains” from sales of the same class of stock are included therein; otherwise,
from retained earnings.
B. net income.
C. additional paid-in capital without regard as to whether or NOT there have been previous net “gains” from sales of the same class of
stock included therein.
D. retained earnings.
8) How should a “gain” from the sale of treasury stock be reflected when using the cost method of recording treasury stock transactions?
A. As ordinary earnings shown on the income statement.
B. As an extraordinary item shown on the income statement.
C. As paid-in capital from treasury stock transactions.
D. As an increase in the amount shown for common stock.
9) In January 2007, Castro Corporation, a newly formed company, issued 10,000 shares of its $10 par common stock for $15 per share. On July 1, 2007,
Castro Corporation reacquired 1,000 shares of its outstanding stock for $12 per share. The acquisition of these treasury shares
A. decreased total stockholders’ equity.
B. decreased the number of issued shares.
C. increased total stockholders’ equity.
D. did NOT change total stockholders’ equity.
10) In computing earnings per share, the equivalent number of shares of convertible preferred stock are added as an adjustment to
the denominator (number of shares outstanding). If the preferred stock is cumulative, which amount should then be added as an adjustment
the numerator (net earnings)?
A. Annual preferred dividend
B. Annual preferred dividend divided by the income tax rate
C. Annual preferred dividend times (one minus the income tax rate)
D. Annual preferred dividend times the income tax rate
11) In the diluted earnings per share computation, the treasury stock method is used for options and warrants to reflect assumed reacquisition
of common stock at the average market price during the period. If the exercise price of the options or warrants exceeds the average market price, the
computation would
A. fairly present diluted earnings per share on a prospective basis.
B. be antidilutive.
C. fairly present the maximum potential dilution of diluted earnings per share on a prospective basis.
D. reflect the excess of the number of shares assumed issued over the number of shares assumed reacquired as the potential dilution of
earnings per share.
12) When computing diluted earnings per share, convertible bonds are
A. ignored.
B. assumed converted whether they are dilutive or antidilutive.
C. assumed converted only if they are antidilutive.
D. assumed converted only if they are dilutive.
13) Palmer Corp. owned 20,000 shares of Dixon Corp. purchased in 2003 for $240,000. On December 15, 2006, Palmer declared a property dividend
of all of its Dixon Corp. shares on the basis of one share of Dixon for every 10 shares of Palmer common stock held by its stockholders. The property
dividend was distributed on January 15, 2007. On the declaration date, the aggregate market price of the Dixon shares held by Palmer was $400,000.
The entry to record the declaration of the dividend would include a debit to Retained Earnings of
A. $0.
B. $160,000.
C. $240,000.
D. $400,000.
14) On December 31, 2006, the stockholders’ equity section of Clark, Inc., was as follows: Common stock, par value $10; authorized 30,000 shares.
Issued and outstanding 9,000 shares
$ 90,000
Additional paid-in capital
116,000
Retained earnings
174,000
Total stockholders’ equity
$380,000
On March 31, 2007, Clark declared a 10% stock dividend, and accordingly 900 additional shares were issued, when the fair market value of
the stock was $18 per share. For the three months ended March 31, 2007, Clark sustained a net loss of $32,000. The balance of Clark’s retained
earnings as of March 31, 2007, should be
A. $125,800.
B. $133,000.
C. $134,800.
D. $142,000.
15) A corporation declared a dividend, a portion of which was liquidating. How would this distribution affect each of the following?
Additional Paid-in Capital | Retained Earnings
A. Decrease | No effect
B. Decrease | Decrease
C. No effect | Decrease
D. No effect | No effec
16) An unrealized holding gain on a company’s available-for-sale securities should be reflected in the current financial statements as
A. an extraordinary item shown as a direct increase to retained earnings.
B. a current gain resulting from holding securities.
C. a note or parenthetical disclosure only.
D. other comprehensive income and included in the equity section of the balance sheet.
17) An unrealized holding loss on a company’s available-for-sale securities should be reflected in the current financial statements as
A. an extraordinary item shown as a direct reduction from retained earnings.
B. a current loss resulting from holding securities.
C. a note or parenthetical disclosure only.
D. other comprehensive income and deducted in the equity section of the balance sheet.
18) A reclassification adjustment is reported in the
A. income statement as an Other Revenue or Expense.
B. stockholders’ equity section of the balance sheet.
C. statement of comprehensive income as other comprehensive income.
D. statement of stockholders’ equity.
19) Investments in debt securities should be recorded on the date of acquisition at
A. lower of cost or market.
B. market value.
C. market value plus brokerage fees and other costs incident to the purchase.
D. face value plus brokerage fees and other costs incident to the purchase.
20) Pippen Co. purchased ten-year, 10% bonds that pay interest semiannually. The bonds are sold to yield 8%. One step in
calculating the issue price of the bonds is to multiply the principal by the table value for
A. 10 periods and 10% from the present value of 1 table.
B. 10 periods and 8% from the present value of 1 table.
C. 20 periods and 5% from the present value of 1 table.
D. 20 periods and 4% from the present value of 1 table.
21) When an investor’s accounting period ends on a date that does NOT coincide with an interest receipt date for bonds held as
an investment, the investor must
A. make an adjusting entry to debit Interest Receivable and to credit Interest Revenue for the amount of interest accrued since the
last interest receipt date.
B. notify the issuer and request that a special payment be made for the appropriate portion of the interest period.
C. make an adjusting entry to debit Interest Receivable and to credit Interest Revenue for the total amount of interest to be received
at the next interest receipt date.
D. do nothing special and ignore the fact that the accounting period does NOT coincide with the bond’s interest period.
22) An investor has a long-term investment in stocks. Regular cash dividends received by the investor are recorded as
Fair Value Method | Equity Method
A. Income | Income
B. A reduction of the investment | A reduction of the investment
C. Income | A reduction of the investment
D. A reduction of the investment | Income
23) Under the equity method of accounting for investments, an investor recognizes its share of the earnings in the period in which the
A. investor sells the investment.
B. investee declares a dividend.
C. investee pays a dividend.
D. earnings are reported by the investee in its financial statements.
24) Byner Corporation accounts for its investment in the common stock of Yount Company under the equity method.
Byner Corporation should ordinarily record a cash dividend received from Yount as
A. a reduction of the carrying value of the investment.
B. additional paid-in capital.
C. an addition to the carrying value of the investment.
D. dividend income.
25) A requirement for a security to be classified as held-to-maturity is
A. ability to hold the security to maturity.
B. positive intent.
C. the security must be a debt security.
D. All of these are required.
26) Debt securities that are accounted for at amortized cost, NOT fair value, are
A. held-to-maturity debt securities.
B. available-for-sale debt securities.
C. trading debt securities.
D. never-sell debt securities.
27) Debt securities acquired by a corporation which are accounted for by recognizing unrealized holding gains or
losses and are included as other comprehensive income and as a separate component of stockholders’ equity are
A. held-to-maturity debt securities.
B. available-for-sale debt securities.
C. trading debt securities.
D. never-sell debt securities.
28) The accounting for fair value hedges records the derivative at its
A. amortized cost.
B. fair value.
C. carrying value.
D. historical cost.
29) Gains or losses on cash flow hedges are
A. ignored completely.
B. reported directly in net income.
C. recorded in equity, as part of other comprehensive income.
D. reported directly in retained earnings.
30) All of the following statements regarding accounting for derivatives are correct EXCEPT that
A. they should be recognized in the financial statements as assets and liabilities.
B. gains and losses resulting from speculation should be deferred.
C. they should be reported at fair value.
D. gains and losses resulting from hedge transactions are reported in different ways, depending upon the type of hedge.
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ETHICS HOMEWORK QUESTION 1: A CONTEMPORARY ISSUE FACING TECHNOLOGY INNOVATION TODAY IS THE TENSION BETWEEN PERSONAL PRIVACY AND PUBLIC SECURITY. DISCUSS IN-DEPTH HOW THIS ISSUE EFFECTS AND DRIVES THE DEVELOPMENT OF DEVICES OR SOFTWARE. PROVIDE AT LEAST ONE EXAMPLE.
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ethics homework
Question 1:
A contemporary issue facing technology innovation today is the tension between personal privacy and public security. Discuss in-depth how this issue effects and drives the development of devices or software. Provide at least one example. (Write at least 2 – 3 paragraphs)
Question 2:
Consider the following case study and answer the questions below.
An electric car is an automobile that uses electrical energy stored in batteries or another energy storage device that is propelled by one or more electric motors. Electric cars can significantly reduce air pollution, as they do not emit tailpipe pollutants and reduce in greenhouse gas and other emissions and reduce dependence on foreign oil. But widespread adoption of electric cars causes higher cost, lack of recharging infrastructure outside of home charging and range anxiety which is the driver’s fear that the electric energy stored in the batteries will run out before the driver reaches their destination, due to the limited range of the existing electric cars. The United States government also views energy efficient vehicles as environmentally friendly alternatives to vehicles that run purely on gasoline and provided tax credits to increase the popularity.
Identify and analyze the possible impacts (political, environmental, health, safety, cultural, economic) of the electric car technology on society (including individual, local, regional, or global context)? (Write 1 paragraph)
Engineers and technologists have a responsibility to add to the public discourse on technology issues (section 4.8 of your text). Choose the perspective of either an engineer working for a firm developing an electric car or an engineer working for an oil company. Address one of the ethical issues which arise from this impact using ideas presented throughout the text (environmentalism, cost-benefit analysis, social values, etc.). (Write 1 paragraph)
Question 3:
Consider a situation where “David” works for a US based firm in another Country “XYZ”. The government in Country XYZ assesses taxes at an exorbitant rate as the firms are expected to report only 70% of their actual earnings. If a firm reported its actual earnings, the taxes would force it out of business. David’s firm is considering whether it should adopt the local practice of dishonestly reporting its profits to Country XYZ, even though it would be illegal to do this in the United States. Whatever the decision, the firm will continue to report its profits honestly to the US government.
Describe ethical issues raised in this case? Be sure to address cross-cultural nature of the issues. (Write 1 paragraph)
Using the ethical approaches found in the text for cross-cultural ethics, do you think there are any creative middle way solutions? If so, discuss one of them. Identify the positive and negative consequences that would result from this solution. (Write 1 paragraph)
Grading Rubric
Question 1:
Discusses contemporary issues facing industry, engineering, a given technology, or a specific technical solution (socio-economic, environmental, cultural, corporate culture, industrial competition, political, health and safety)
Excellent
Competent
Needs Improvement
Discusses comprehensively or in-depth the impact of a contemporary issue on engineering or a technology or technical solution.
Discusses the impact of a contemporary issue which impacts engineering, a technology, or a solution but the analysis is somewhat cursory, lacking depth or consideration of the broader factors or context.
Either attempts to discuss a contemporary issue but fails to relate the issue to engineering or a technology or demonstrates a lack of awareness of the contemporary issue.
30
18 – 25
8 – 15
Sub – total:
30
Question 2:
Determines possible impacts (political, environmental, health, safety, cultural, economic) of a technical solution on society (individual, local, regional, or global context)
Excellent
Competent
Needs Improvement
Analyzes and evaluates both short term and long term impacts of a solution on all relevant aspects and levels of society
Analyzes the impact of a solution on some aspects or levels of society but may focus on the immediate user/society or the short-term risks and benefits (e.g., may not take into consideration cultural aspect or regional or global context)
Little or no consideration of the risks, benefits, or implications to society
30
18 – 25
8 – 15
Evaluates the case study to answer the questions
5
Sub – total:
35
Question 3:
Recognizes impact of diverse social and cultural elements on ethical issues and solutions
Excellent
Competent
Needs Improvement
Identifies cross-cultural ethical issues and articulates social and cultural impacts in defining the issues; applies ethical approaches consistent with boundary-crossing problems; can articulate several positive and negative resulting consequences.
Identifies cross-cultural ethical issues and articulates at least some of the social and cultural impacts in defining the issues; applies ethical approaches consistent with boundary-crossing problems in a simple manner with limited analysis of the consequences.
If identifies ethical issues, may not be able to relate the issues to social or cultural differences; uses ethical decision-making approaches applicable in their own culture or own opinion.
30
18 – 25
8 – 15
Evaluates the case study to answer the questions
5
Sub – total:
35
Overall total
100
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2 PAGES ESSAY 2 PAGES ESSAY WRITE ABOUT ‘ HOW I WAS SPOILED IN MY HOME COUNTRY. AND HOW THE LIFE IS HARD NOW WHILE I AM STUDYING ABROAD. WHAT IF THE LIFE CHANGES, BEING RESPONSIBLE AND CAPABLE OF EVERYTHING PAYING BILLS AND OTHER LIFE RESPONSIBILITIES
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2 pages essay
2 pages essay
write about ‘ how i was spoiled in my home country. and how the life is hard now while i am studying abroad. what if the life changes, being responsible and capable of everything paying bills and other life responsibilities
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FOR PUTUL:ACCOUNTING LAB PART II: MYACCOUNTINGLAB: IN EACH MODULE OF THIS COURSE, YOU WILL COMPLETE TEXTBOOK EXERCISES AND PROBLEMS USING MYACCOUNTINGLAB. THE EXERCISES AND PROBLEMS IN THIS ASSIGNMENT PROVIDE REAL-WORLD EXAMPLES THAT GIVE YOU AN OPPORTUNITY TO APPLY YOUR KNOWLEDGE OF THE CONCEPTS COVERED IN PRIOR MODULES.
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For Putul:Accounting lab
Part II: MyAccountingLab:
In each module of this course, you will complete textbook exercises and problems using MyAccountingLab. The exercises and problems in this assignment provide real-world examples that give you an opportunity to apply your knowledge of the concepts covered in prior modules.
In this assignment, you will complete the following My Accounting Lab Post Tests:
Chapter 14-B Post Test
Chapter 16-B Post Test
Module 4 – M4 Assignment 1
Accounting Problems IV
In this assignment, you will complete textbook problems and exercises using MyAccountingLab. The exercises and problems provide real-world examples that give you an opportunity to apply cost concepts related to budgeting.
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QUESTION 1: A CONTEMPORARY ISSUE FACING TECHNOLOGY INNOVATION TODAY IS THE TENSION BETWEEN PERSONAL PRIVACY AND PUBLIC SECURITY. DISCUSS IN-DEPTH HOW THIS ISSUE EFFECTS AND DRIVES THE DEVELOPMENT OF DEVICES OR SOFTWARE. PROVIDE AT LEAST ONE EXAMPLE.
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ethics homework
Question 1:
A contemporary issue facing technology innovation today is the tension between personal privacy and public security. Discuss in-depth how this issue effects and drives the development of devices or software. Provide at least one example. (Write at least 2 – 3 paragraphs)
Question 2:
Consider the following case study and answer the questions below.
An electric car is an automobile that uses electrical energy stored in batteries or another energy storage device that is propelled by one or more electric motors. Electric cars can significantly reduce air pollution, as they do not emit tailpipe pollutants and reduce in greenhouse gas and other emissions and reduce dependence on foreign oil. But widespread adoption of electric cars causes higher cost, lack of recharging infrastructure outside of home charging and range anxiety which is the driver’s fear that the electric energy stored in the batteries will run out before the driver reaches their destination, due t