WEEK 3 ASSIGNMENT 1 DUE SAT 5:00PM CST -APA FORMAT SELECT A PUBLICLY TRADED COMPANY TO RESEARCH AND EVALUATE ITS HUMAN RESOURCE (HR) AND BUSINESS STRATEGY, HR DEPARTMENT JOB POSITIONS, AND WAYS IT MARKETS ITS COMPANY REGARDING HUMAN CAPITAL. SOME COMPANY WEBSITES THAT PROVIDE THIS INFORMATION ARE LISTED BELOW:
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Week 3 Assignment 1 Due Sat 5:00pm CST -APA Format
Select a publicly traded company to research and evaluate its Human Resource (HR) and business strategy, HR department job positions, and ways it markets its company regarding human capital. Some company Websites that provide this information are listed below:
Marriott: http://www.arubamarriottcareers.com/JobDescriptions.html
Allstate: http://www.jigsaw.com/id209321_d40/allstate_insurance_human_resources_business_contacts.xhtml
State Farm: http://www.statefarm.com/about/retirees/news_articles/hr_serv_assist.asp
Ford Motor Company: http://corporate.ford.com/careers/career-paths/human-resources?&ccode=US
Write a two to three (2-3) page paper in which you:
PLEASE USE THE ATTACHED ASSIGNMENT FORMAT
Propose how you would ensure the HR strategy is in alignment with the business strategy.
Describe the HR job positions and the responsibilities listed for that HR department.
Determine which HR job positions you would prefer and explain why.
Analyze how the selected company can establish HRM strategies to improve competitive advantages.
Propose three (3) ways that the company can increase diversity.
Use at least three (3) quality academic resources in this assignment. Note: Wikipedia and other Websites do not qualify as academic resources.
Your assignment must follow these formatting requirements:
Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format.
Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.Assignment # Student’s Name Dr. Tonya D. Moore Course Name Month, Date, Year Introduction (Place content) Criteria #1 (Place content) Criteria #2 (Place content) Criteria #3 (Place content) Criteria #4 (Place content) Conclusion (Place content) References
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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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1) PROCEEDS FROM AN ISSUE OF DEBT SECURITIES HAVING STOCK WARRANTS SHOULD NOT BE ALLOCATED BETWEEN DEBT AND EQUITY FEATURES WHEN
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ACC 432 Final Exam
ACC 432 Final Exam
1) Proceeds from an issue of debt securities having stock warrants should NOT be allocated between debt and equity features when
A.
the allocation would result in a discount on the debt security.
B.
the warrants issued with the debt securities are nondetachable.
C.
exercise of the warrants within the next few fiscal periods seems remote.
D.
the market value of the warrants is NOT readily available.
2) The conversion of preferred stock may be recorded by the
A.
market value method.
B.
par value method.
C.
book value method.
D.
incremental 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.
treated as a prior period adjustment.
B.
treated as a direct reduction of retained earnings.
C.
reflected currently in income as an extraordinary item.
D.
reflected currently in income, but NOT as an extraordinary item.
4) A primary source of stockholders’ equity is
A.
contributions by stockholders.
B.
both income retained by the corporation and contributions by stockholders.
C.
appropriated retained earnings.
D.
income retained by the corporation.
5) Stockholders’ equity is generally classified into two major categories:
A.
retained earnings and unappropriated capital.
B.
earned capital and contributed capital.
C.
appropriated capital and retained earnings.
D.
contributed capital and appropriated capital.
6) 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 shares issued.
B.
Any of these provides an appropriate basis for recording the transaction.
C.
par value of the shares issued.
D.
market value of the services received.
7) Treasury shares are
A.
shares held as an investment by the treasurer of the corporation.
B.
issued but NOT outstanding shares.
C.
shares held as an investment of the corporation.
D.
issued and outstanding shares.
8) “Gains” on sales of treasury stock (using the cost method) should be credited to
A.
paid-in capital from treasury stock.
B.
other income.
C.
capital stock.
D.
retained earnings.
9) 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.
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 to 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) When computing diluted earnings per share, convertible bonds are
A.
ignored.
B.
assumed converted only if they are dilutive.
C.
assumed converted whether they are dilutive or antidilutive.
D.
assumed converted only if they are antidilutive.
12) What effect will the acquisition of treasury stock have on stockholders’ equity and earnings per share, respectively?
A.
Decrease and no effect
B.
Increase and decrease
C.
Increase and no effect
D.
Decrease and increase
13) On May 1, 2007, Kent Corp. declared and issued a 10% common stock dividend. Prior to this dividend, Kent had 100,000 shares of $1 par value common stock issued and outstanding. The fair value of Kent ‘s common stock was $20 per share on May 1, 2007. As a result of this stock dividend, Kent’s total stockholders’ equity
A.
did NOT change.
B.
increased by $200,000.
C.
decreased by $10,000.
D.
decreased by $200,000.
14) How would the declaration and subsequent issuance of a 10% stock dividend by the issuer affect each of the following when the market value of the shares exceeds the par value of the stock?
Additional Common Stock | Paid-in Capital
A.
Increase | Increase
B.
No effect | No effect
C.
Increase | No effect
D.
No effect | Increase
15) At its date of incorporation, Wilson, Inc. issued 100,000 shares of its $10 par common stock at $11 per share. During the current year, Wilson acquired 20,000 shares of its common stock at a price of $16 per share and accounted for them by the cost method. Subsequently, these shares were reissued at a price of $12 per share. There have been no other issuances or acquisitions of its own common stock. What effect does the reissuance of the stock have on the following accounts?
Retained Earnings | Additional Paid-in Capital
A.
No effect | No effect
B.
Decrease | Decrease
C.
Decrease | No effect
D.
No effect | Decrease
16) Which of the following is correct about the effective-interest method of amortization?
A.
The effective-interest method produces a constant rate of return on the book value of the investment from period to period.
B.
The effective interest method applied to investments in debt securities is different from that applied to bonds payable.
C.
Amortization of a premium decreases from period to period.
D.
Amortization of a discount decreases from period to period.
17) An unrealized holding loss on a company’s available-for-sale securities should be reflected in the current financial statements as
A.
other comprehensive income and deducted in the equity section of the balance sheet.
B.
an extraordinary item shown as a direct reduction from retained earnings.
C.
a note or parenthetical disclosure only.
D.
a current loss resulting from holding securities.
18) An unrealized holding gain on a company’s available-for-sale securities should be reflected in the current financial statements as
A.
other comprehensive income and included in the equity section of the balance sheet.
B.
an extraordinary item shown as a direct increase to retained earnings.
C.
a note or parenthetical disclosure only.
D.
a current gain resulting from holding securities.
19) Investments in debt securities should be recorded on the date of acquisition at
A.
face value plus brokerage fees and other costs incident to the purchase.
B.
lower of cost or market.
C.
market value plus brokerage fees and other costs incident to the purchase.
D.
market value.
20) Securities which could be classified as held-to-maturity are
A.
warrants.
B.
redeemable preferred stock.
C.
municipal bonds.
D.
treasury stock.
21) Which of the following is NOT a debt security?
A.
Commercial paper
B.
Convertible bonds
C.
Loans receivable
D.
All of these are debt securities.
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.
A reduction of the investment | A reduction of the investment
B.
Income | Income
C.
Income | A reduction of the investment
D.
A reduction of the investment | Income
23) When a company holds between 20% and 50% of the outstanding stock of an investee, which of the following statements applies?
A.
The investor should use the equity method to account for its investment unless circum-stances indicate that it is unable to exercise “significant influence” over the investee.
B.
The investor should always use the equity method to account for its investment.
C.
The investor must use the fair value method unless it can clearly demonstrate the ability to exercise “significant influence” over the investee.
D.
The investor should always use the fair value method to account for its investment.
24) Bista Corporation declares and distributes a cash dividend that is a result of current earnings. How will the receipt of those dividends affect the investment account of the investor under each of the following accounting methods?
Fair Value Method | Equity Method
A.
Increase | Decrease
B.
No Effect | Decrease
C.
No Effect | No Effect
D.
Decrease | No Effect
25) Debt securities that are accounted for at amortized cost, NOT fair value, are
A.
trading debt securities.
B.
held-to-maturity debt securities.
C.
available-for-sale debt securities.
D.
never-sell debt securities.
26) Equity securities acquired by a corporation which are accounted for by recognizing unrealized holding gains or losses as other comprehensive income and as a separate component of stockholders’ equity are
A.
trading securities where a company has holdings of less than 20%.
B.
available-for-sale securities where a company has holdings of less than 20%.
C.
securities where a company has holdings of between 20% and 50%.
D.
securities where a company has holdings of more than 50%.
27) Use of the effective-interest method in amortizing bond premiums and discounts results in
A. a smaller amount of interest income over the life of the bond issue than would result from use of the straight-line method.
B. a greater amount of interest income over the life of the bond issue than would result from use of the straight-line method.
C. a varying amount being recorded as interest income from period to period.
D. a variable rate of return on the book value of the investment.
28) All of the following are characteristics of a derivative financial instrument EXCEPT the instrument
A.
All of these are characteristics.
B.
has one or more underlyings and an identified payment provision.
C.
requires a large investment at the inception of the contract.
D.
requires or permits net settlement.
29) The accounting for fair value hedges records the derivative at its
A.
historical cost.
B.
amortized cost.
C.
carrying value.
D.
fair value.
30) All of the following statements regarding accounting for derivatives are correct EXCEPT that
A.
gains and losses resulting from hedge transactions are reported in different ways, depending upon the type of hedge.
B.
they should be recognized in the financial statements as assets and liabilities.
C.
they should be reported at fair value.
D.
gains and losses resulting from speculation should be deferred.
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ACCOUNTING HELP!! REFER TO THE BALANCE SHEET AND STATEMENT OF SHAREHOLDERS EQUITY OF TOOTSIE ROLL INDUSTRIES, INC RESEARCH AND ANSWER THE FOLLOWING APA FORMAT 1. WHAT WAS THE TOTAL STOCKHOLDERS EQUITY FOR EACH OF THE TWO MOST CURRENT YEARS?
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Accounting Help!!
Refer to the balance sheet and statement of shareholders equity of Tootsie Roll Industries, INC
Research and answer the following APA format
1. What was the total stockholders equity for each of the two most current years?
2. What seems to be the main reason for the change in stockholders equity?
3. What is the largest component of stockholders equity?
4. Does the company have preferred stock? How many classes of common stock does the company have?
5. How many shares of common stock are authorized, issued and outstanding?
6. Refer to the Statement of Earnings. Did the company declare any divdends? Were they cash or stock dividends?
7. Has the company repurchased any of its own shares? What is the total effect on shareholders equity of the repurchase?
8. What is the return on stockholders equity?
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ECONOMICS RESEARCH PAPER:PUBLIC SCHOOLS AND PRIVATE SCHOOLS. DUE DATE: APRIL 29,2015 10:00 AM TOPIC: PUBLIC SCHOOLS VS PRIVATE SCHOOLS. (SIMILARITIES/DIFFERENCES, ADVANTAGES/DISADVATAGES,WHICH IS BETTER FOR AN AVERAGE CONSUMER ETC)
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ECONOMICS RESEARCH PAPER:PUBLIC SCHOOLS AND PRIVATE SCHOOLS.
DUE DATE: APRIL 29,2015 10:00 AM
TOPIC: PUBLIC SCHOOLS VS PRIVATE SCHOOLS.
(Similarities/Differences, Advantages/Disadvatages,which is better for an average consumer etc)
A research paper has to be 4-5 pages (excluding Cover page and bibliographical page) typed, double spaced 12 F. size. It should not be more than 9 pages
Must have at least three references.
It must have Title/Topic
Tentative Format: (You may change/modify according to the need of your topic).
Title
Introduction
Objectives
Theoretical Background (if needed)
Collection and analysis of information (here depending upon your topic and available information, you will develop with sub aspects and titles)
Findings
Suggestions and summary.
If your research paper exceeds my expectations from your class level you may get one or two bonus points but that requires exceptional report.
References may include web site, magazines, newspaper or any other sources primary and/or secondary.
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ACC 544 FINAL EXAM A+ 1) WHICH IS NOT ONE OF THE AICPA’S CODE OF PROFESSIONAL CONDUCT PRINCIPLES?
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ACC 544 Final EXAM A+
1) Which is NOT one of the AICPA’s Code of Professional Conduct principles?
A. The public interest
B. Integrity
C. Quality control
D. Scope and nature of services
2) The ethical philosophy that considers the consequences of similar persons acting under similar circumstances is called
A. utilitarian principle.
B. imperative principle.
C. categorical imperative.
D. generalization argument.
3) The fundamental issues in independence require that the auditor avoid
A. financial connections with the client and financial connections with the client’s competitors.
B. acting as management and representing the shareholder’s interests.
C. responsibility for the client’s internal control and subordinating judgment concerning audit issues.
D. financial connections with the firm and acting as management.
4) Auditors have greater liability under the Securities Act of 1933. Which is the reason that this greater liability exists?
A. The auditor is liable for treble damages under the Securities Act of 1933.
B. The plaintiff does not have to prove that the financial statements were misstated.
C. The plaintiff does not have to prove that they relied on the financial statements.
D. The plaintiff does not have to prove that there were damages.
5) The legal doctrine that states that a successful plaintiff may recover the full amount of damages from any defendant thathas the ability to pay is called
A) Joint and several liability.
B) Proportionate liability.
C) Complete liability.
D) Total liability.
6) The SEC regulation that governs disclosures in annual reports other than financial statements is the
A. Securities Act of 1933.
B. Securities Exchange Act of 1934.
C. Regulation S-X.
D. Regulation S-K.
7) Inspection of tangible assets provides evidence for which assertion?
A. Existence and occurrence
B. Completeness
C. Rights and obligations
D. Presentation and disclosure
8) The risk that the auditor may provide an inappropriate opinion based on their review of materially misstated financial statements is referred to as
A. audit risk.
B. detection risk.
C. information risk.
D. business risk.
9) Auditors perform the steps in which order?
A. Determine audit risk; assess control risk; determine detection risk; and set materiality.
B. Set materiality; determine audit risk; assess control risk; and determine detection risk.
C. Set materiality; assess control risk; determine detection risk; and determine audit risk.
D. Determine audit risk; set materiality; assess control risk; and determine detection risk.
10) An internal control questionnaire (ICQ) contains the question: “Does a single individual receive and list cato sales and general ledgers?” What action must an auditor take if the manager of accounting responds yes to the
A. No action is required because yes responses on an ICQ indicate the presence of good control.
B. Statistically sample the response along with all other yes responses to verify their accuracy.
C. Treat it as a potential control weakness and perform appropriate testing.
D. Include it with other reportable findings in the next audit report.
11) In addition to gaining an understanding of the internal controls, an external auditor, at minimum, is expect
A. evaluate the internal auditors’ work as an important part of the accounting system element of the inter
B. observe client employees to determine the extent of their compliance with quality control standards.
C. trace a few transactions through the control process to obtain evidence that the controls have been pla
D. study organization charts to obtain an understanding of the informal lines of communication.
12) Which method provides the auditor with the best visual grasp of a system and a means for analyzing complex operations?
A. A flowcharting approach
B. A matrix approach
C. A questionnaire approach
D. A detailed narrative approach
13) Which of the accounts is NOT included in the revenue and collection cycle?
A. Cash in bank
B. Raw materials
C. Accounts receivable
D. Bad debt expense
14) The most reliable evidence comes from
A. a positive confirmation.
B. a blank confirmation.
C. a negative confirmation.
D. examining a sales invoice.
15) Custody is transferred from the warehouse to the shipping department upon authorization of the
A. shipping order.
B. purchase order.
C. customer order.
D. invoice.
16) An enlightened management may decrease the probability of fraud in the company best by
A. restricting authority for profit objective determination to top management.
B. stressing negative observations on their work to increase performance.
C. measuring performance and awarding bonuses on the basis of short-term operating results.
D. establishing work teams that share responsibilities, performance, and bonuses based on collective effor
17) A proof of cash is normally used
A. for all engagements.
B. when control risk for cash is low.
C. to test the transactions process when controls over cash are weak.
D. when lapping is suspected.
18) Which is an appropriate audit program step for the review of canceled checks for authorized signatures?
A. Compare the check date with the first cancellation date.
B. Examine a representative sample of signed checks, and determine that the signatures are authorized in the corporate signature book.
C. Determine that all checks are to be signed by an individual authorized by the board.
D. Confirm the signatures from a sample of checks directly with the bank.
19) The production authorization starts with a
A. purchase order.
B. sales forecast.
C. production plan.
D. bill of materials.
20) Which is NOT recognized by GAAP as appropriate for determining inventory cost?
A. FIFO
B. Weighted average
C. LIFO
D. Standard costs
21) Inventory must be recorded when
A. the company has title to it.
B. the related revenue is recognized.
C. it is received.
D. it is shipped from the vendor.
22) Canceling invoices with a paid stamp after payment is a control that relates to which assertion?
A. Existence or occurrence
B. Rights and obligations
C. Completeness
D. Valuation or allocations
23) Which is NOT a step in the search for unrecorded liabilities?
A. Examine the open purchase order file.
B. Examine the unmatched receiving reports.
C. Examine disbursements for the period immediately before the end of the period.
D. All of these are steps in the search.
24) Which control question relates to the existence and occurrence objective in purchasing and accounts payable?
A. Are the purchase order forms prenumbered and is the numerical sequence checked for missing documents?
B. Does the chart of accounts and accounting manual provide instructions for classifying debit entries?
C. Does the accounting department check invoices for mathematical accuracy?
D. Are receiving reports prepared for each item received?
25) The audit objective that all transactions and accounts that should be presented in the financial statements are included is related to which assertion?
A. Existence or occurrence
B. Presentation and disclosure
C. Rights and obligations
D. Completeness
26) Which best describes the main reason independent auditors report on management’s financial statements?
A. A management fraud may exist, and it is likely to be detected by independent auditors.
B. The management that prepares the statements may have a poorly designed system of internal control.
C. The management that prepares the statements and ther persons who use the statements may have conflicting interests.
D. Misstated account balances may be corrected as the result of the independent audit work.
27) The audit objective that all footnotes have been included in the financial statements is related most closely to which assertation?
A. Existence or occurrence
B. Presentation and disclosure
C. Rights and obligations
D. Completeness
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ACC 561 FINAL EXAM 1) THE STATEMENT OF CASH FLOWS IS USED FOR _____.
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ACC 561 Final Exam
1) The statement of cash flows is used for _____.
A. showing the relationship of net income to changes in current assets
B. determining a company’s acceptable level of debt financing C. revealing commitments that may restrict future courses of action D. evaluating the creditworthiness of the organization
2) Nonoperating items on the income statement _____.
A. are revenues and expenses arising from adjusting entries B. include interest income and expense C. appear only on corporate income statements D. appear on the income statement immediately after gross profit
3) The difference between a single-step and multiple-step income statement is that a single-step income statement _____.
A. groups all revenues together and all expenses together, whereas a multiple-step income statement separates certain revenues and expenses from each other and presents subtotals
B. calculates net income using one method, whereas a multiple-step income statement calculates net income using two or more methods
C. calculates gross profit and operating income, whereas a multiple-step income statement does not D. shows only 1 year’s net income, whereas a multiple-step income statement shows multiple years’ net income
4) Which one of the following statements is true?
A. The statement of cash flows reports the cash receipts but not cash payments of an entity over a period of time.
B. Both the statement of cash flows and the income statement determine the net income for a company. C. Transactions affecting the sale and the purchase or production of goods and services are reported in the financing activities section of the statement of cash flows.
D. Investing activities in the statement of cash flows include acquiring and selling long-term assets.
5) The _____ accounting convention uses the acquisition cost minus depreciation in valuing an asset on the balance sheet.
A. continuity B. conservatism
C. cost-benefit D. materiality
6) A new corporation issuing a common, no-par value stock for cash would include a journal entry a debit to _____.
A. paid-in capital and a credit to retained earnings.
B. cash and a credit to common stock. C. retained earnings and a credit to cash. D. cash and a credit to retained income.
7) Which type of organization would most likely have work-in-process inventory?
A. A retail store B. A manufacturing company C. A service organization D. A real-estate investment trust
8) _____ is a measure of income or profit divided by the investment required to obtain that income or profit.
A. Return on sales B. Capital turnover C. Return on investment D. Residual income
9) The following information is available for the Peter Company:
Sales: $150,000
Invested capital: $156,250
ROI: 10%
The return on sales is _____.
A. 10.00% B. 10.42% C. 62.50% D. 9.60%
10) The following information is available for the Peter Company:
Sales: $500,000
Invested capital: $312,500
ROI: 10%
The return on sales is _____.
A. 10.00% B. 6.250%
C. 1.000% D. 62.50%
11) Company A’s revenues are $300 on invested capital of $240. Expenses are currently 70% of sales. If Angelo Company can reduce its capital investment by 20% in Company A, return on investment will be _____.
A. 75% B. 93.75% C. 18.75% D. 46.88%
12) When the variable costing method is used, fixed factory overhead appears on the income statement as a _____.
A. component of cost of goods sold
B. fixed expense C. production-volume variance D. component of gross profit
13) In absorption costing, costs are separated into the major categories of _____.
A. manufacturing and nonmanufacturing B. manufacturing and fixed C. fixed and variable D. variable and nonmanufacturing
14) _____ is another term for variable costing.
A. Full costing B. Direct costing C. Traditional costing D. Absorption costing
15) Budgeted service department cost rates protects the user departments from _____.
A. service department efficiencies
B. price fluctuations C. service outages D. employee control
16) _____ is an example of the external financial-reporting purpose of the cost management systems.
A. The cost of a manufacturing process B. The product mix to optimize profitability C. The amount of inventory that should appear on the balance sheet
D. Budget reporting
17) The level of sales at which revenues equal expenses and net income is zero is called the _____.
A. margin of safety B. contribution margin C. break-even point D. marginal income point
18) Output measures of both resources and activities are _____.
A. cost drivers B. stages of production
C. fixed activities D. variable activities
19) The break-even point is where _____.
A. total sales revenue equals total cost plus desired profit. B. the contribution margin equals net income plus fixed costs.
C. total sales revenue equals total cost. D. the variable cost equals total cost.
20) _____ budgeting is when budgets are formulated with the active participation of all affected employees.
A. Financial B. Team C. Participative
D. Shared
21) _____ is the logical integration of management accounting tools to gather and report data and to evaluate performance.
A. An internal control system B. A quality control system
C. A financial-reporting system D. A management control system
22) _____ are components of a master budget.
A. A strategic plan and an operating budget B. An operating budget and a capital budget
C. A continuous budget and a static budget D. A cash budget and an activity budget
23) An important factor considered by sales forecasters is _____.
A. production employee requirements. B. expectations of the board of directors.
C. competitors’ activities. D. the desired level of sales.
24) _____ models are mathematical models of the master budget that can react to any set of assumptions about sales, costs, and product mix.
A. Variance analysis B. Financial planning C. Accounting D. Futuring
25) Which of the following is an objective of budgeting?
A. Budgeting provides benchmarks against which performance can be measured. B. Budgeting provides a fixed fiscal plan that should not be changed during the year. C. Budgeting helps managers build favorable variances into the performance-evaluation process.
D. Budgeting is done exclusively by the chief fiscal officer for control purposes.
26) An organization’s budget program should be used
A. to have power over employees. B. to assign blame to managers that do not meet budgetary goals. C. to help managers plan and control the organization’s performance. D. to help the chief fiscal officer to allocate resources to the favored projects of the executives.
27) The activity-based costing may reveal _________, whereas traditional costing cannot.
A. high-volume products are overcosted B. low-volume products are overcosted C. both high- and low-volume products are overcosted D. both high- and low-volume products are undercosted
28) _____ is a method of approximating cost functions.
A. Cost-driver analysis B. Transaction analysis C. Product analysis D. Account analysis
29) In relation to a cost function, the term reliability refers to _____.
A. whether the costs and activities can be easily observed B. whether the cost function conforms to a given mathematical model
C. how well the cost function predicts future costs
D. how well the cost function explains past cost behavior
30) One of the simplest methods to measure a linear cost function from past data is the _____.
A. regression analysis method B. high–low method C. least squares regression method
D. visual-fit method
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. JBC CORP. DECLARED A DIVIDEND OF $2 PER SHARE, WHICH WAS AN INCREASE OF 25% FROM THE PRIOR YEAR, YET JBC CORP. STOCK DECLINED BY 3% THE DAY OF THE ANNOUNCEMENT. RBG CORP. DECLARED A DIVIDEND OF $2 PER SHARE, WHICH WAS THE SAME AS THE PRIOR YEAR, AND ITS STOCK INCREASED IN VALUE BY 2% ON THE DAY OF THE ANNOUNCEMENT. THESE EVENTS COULD BE MOST READILY EXPLAINED BY THE
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BUS 401 Final Exam
1. JBC Corp. declared a dividend of $2 per share, which was an increase of 25% from the prior year, yet JBC Corp. stock declined by 3% the day of the announcement.
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BUS 401 FINAL EXAM 1. JBC CORP. DECLARED A DIVIDEND OF $2 PER SHARE, WHICH WAS AN INCREASE OF 25% FROM THE PRIOR YEAR, YET JBC CORP. STOCK DECLINED BY 3% THE DAY OF THE ANNOUNCEMENT.
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BUS 401 Final Exam
BUS 401 Final Exam
1. JBC Corp. declared a dividend of $2 per share, which was an increase of 25% from the prior year, yet JBC Corp. stock declined by 3% the day of the announcement. RBG Corp. declared a dividend of $2 per share, which was the same as the prior year, and its stock increased in value by 2% on the day of the announcement. These events could be most readily explained by the (Points : 1)
information effect.
clientele effect.
expectations theory.
residual dividend theory.
2. A firm’s optimal capital structure occurs where? (Points : 1)
EPS are maximized, and WACC is minimized.
Stock price is maximized, and EPS are maximized.
Stock price is maximized, and WACC is maximized.
WACC is minimized, and stock price is maximized.
3. Flotation costs: (Points : 1)
include the fees paid to the investment bankers, lawyers, and accountants involved in selling a new security issue.
encourage firms to pay large dividends.
are encountered whenever a firm fails to pay a dividend.
are incurred when investors fail to cash their dividend check.
4. Assume that the tax on dividends and the tax on capital gains is the same. All else equal, what would a prudent investor prefer? (Points : 1)
The prudent investor would be indifferent between receiving dividends or capital gains.
The prudent investor would prefer dividendsa dollar today is always worth more than a dollar to be received in the future.
The prudent investor would prefer capital gainsthe capital gain tax liability can be deferred until gains are realized.
More information is needed.
5. The break-even point is equal to (Points : 1)
fixed costs divided by (sales price per unit — variable cost per unit).
fixed costs divided by unit variable costs.
fixed costs divided by selling price per unit.
(sales price per unit — variable cost per unit) times the fixed costs.
6. The payment of dividends may indirectly result in closer monitoring of management’s investment activities, thus increasing shareholder value by (Points : 1)
reducing agency costs.
increasing information asymmetry.
increasing a company’s amount of free cash flow.
reducing auditing fees.
7. A firm that uses large amounts of debt financing in an industry characterized by a high degree of business risk would have ______ earnings per share fluctuations resulting from changes in levels of sales. (Points : 1)
no
constant
large
small
8. A high degree of variability in a firm’s earnings before interest and taxes refers to (Points : 1)
business risk.
financial risk.
financial leverage.
operating leverage.
9. As production levels increase, (Points : 1)
variable costs per unit decrease.
fixed costs per unit increase.
fixed costs per unit stay the same and variable costs per unit increase.
fixed costs per unit decrease and variable costs per unit stay the same.
10. Moline Manufacturing Corporation reported the following items: Sales = $6,000,000; Variable Costs of Production = $1,500,000; Variable Selling and Administrative Expenses = $550,000; Fixed Costs = $1,350,000; EBIT = $2,600,000; and the Marginal Tax Rate =35%. Moline’s break-even point in sales dollars is (Points : 1)
$2,050,633.
$2,197,500.
$2,438,750.
$2,785,000.
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BUS 415 FINAL EXAM 1) THE FORM OF ALTERNATIVE DISPUTE RESOLUTION WHEREIN THE PARTIES HIRE SOMEONE TO REVIEW THE EVIDENCE AND MAKE A DECISION THAT IS BINDING UPON THE PARTIES IS CALLED
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BUS 415 Final Exam
BUS 415 Final Exam
1) The form of alternative dispute resolution wherein the parties hire someone to review the evidence and make a decision that is binding upon the parties is called
A. negotiation
B. settlement conference
C. conciliation
D. arbitration
2) The Federal Trade Commission is an example of
A. a federal agency created by the federal government
B. a corporation subsidized by the federal government
C. a branch of the U.S. Supreme Court
D. a temporary commission created by executive order that has become permanent
3) A corporation is considered a citizen of what state?
A. The state where the majority of the employees live
B. It is not a citizen because it is a business
C. The state where it filed its Articles of Incorporation
D. The state where the president of the corporation lives
4) The Federal False Claims Act is also known as
A. the Sarbanes-Oxley Act
B. the Whistleblower Statute
C. the Statute of Frauds
D. the Statute of Limitations
5) Utilitarianism is a moral theory, which states
A. ethics requires a decision-maker to take actions which result in the greatest good to society
B. ethics requires following the Golden Rule (do unto others as you would have them do unto you)
C. ethics requires actions which use the most efficient tools
D. ethics requires acting according to the Bible or some outside source
6) Which of the following statements is true?
A. If something is legal, it is always ethical
B. Practices that are legal in the United States are legal everywhere in the world
C. Practices that are ethical in the United States are considered ethical everywhere else in the world
D. A course of action can be legal but not ethical
7) If a defendant files a motion for summary judgment in a civil case, what is the defendant saying?
A. That the plaintiff’s claims are false
B. That the court has no jurisdiction to decide the case
C. That the case is ready to go to the jury
D. That even if what the plaintiff says is true, there is no basis for judgment against the defendant
8) A defendant fails to answer a civil lawsuit, what is likely to happen?
A. A court will contact the defendant and ask him to answer the lawsuit
B. The court will grant a default judgment against the defendant
C. The case will be appealed before the court makes a ruling
D. The court will order that the defendant go to jail until he or she agrees to answer
9) The legal authority of a court to make orders that are binding upon the parties is called
A. in rem jurisdiction
B. personal jurisdiction
C. quasi in rem jurisdiction
D. enumerated jurisdiction
10) Harry Hoosier, an Indiana resident, drives his family to Florida for spring vacation. When he is at a red light, Freddie Floridian, a Florida resident, is unable to stop in time and his vehicle impacts Harry’s car from the rear. No one is hurt and Harry’s vehicle suffers approximately $10,000 in damages. Which is correct?
A. Harry can sue Freddie in federal court in Florida but not in Indiana
B. Harry can sue Freddie in state court in Florida or Indiana
C. Harry can sue Freddie in state court but not federal court in Florida but not in Indiana
D. Harry can sue Freddie in state court but not federal court in Florida or Indiana
11) Monica owed Bob $500 for a business investment, which was more than a year overdue. Bob got drunk at a party and told everyone that Monica had owed him $500 for over a year. Can Monica recover from Bob for defamation?
A. Yes, because Bob abused his conditional privilege.
B. No, because Bob was telling the truth.
C. Yes, because Bob communicated the statement to third persons.
D. No, because Bob had been drinking.
12) What is the definition of a tort?
A. Any violation of an ethical duty
B. Any crime or misdemeanor
C. Any action done in violation of a prior agreement, which allows the victim to recover damages
D. Any civil wrong that allows the injured person to recover damages
13) Pete and Vicky make the following agreement: Pete promises he will go into a store, buy something for $5, and pay for it with a $100 bill on which he has written “Happy Birthday Vicky!” Vicky promises that after Pete collects his change and leaves the store, she will go into the same store, buy something that costs $5, and pay with a $10 bill. When the clerk attempts to give her change for $10, Vicky will claim that the $100 bill that is in the cash register was money she just received for her birthday, and will demand change from a $100 bill. Then Pete and Vicky will split the extra money they think Vicky will receive in change. Is this a valid contract?
A. This is a valid contract. There was a promise in exchange for a promise, and both parties got what they wanted.
B. This is a void contract, because the parties agreed to commit fraud.
C. This is a voidable contract because Vicky can change her mind.
D. This is not an enforceable contract because the agreement is not in writing.
14) An easement can be defined as
A. a limited right to use another person’s land for a specified purpose
B. a relaxation of the borderlines between two parcels of land
C. a life estate in the property of another
D. an option to purchase the land of another
15) Huey, Dewey, and Louie own a building as tenants in common. Huey lives in the building. Without consulting the other two owners, Dewey deeds his interest in the building to Joe. What will be the outcome of this situation?
A. Huey, Louie, and now Joe will own the property as tenants in common.
B. Huey and Louie will still own the property as tenants in common, but Joe will have a reversionary interest.
C. The transfer of the interest to Joe will be ineffective because the other two did not consent.
D. Joe will make Huey pay rent.
16) Which of the following best describes the benefits of a limited liability company (LLC)?
A. LLC managers are not personally liable for debts, obligations, and liabilities of the LLC.
B. LLCs have limited duration.
C. Documents do not have to be filed with the state to create an LLC.
D. LLCs are automatically taxed like corporations.
17) Which of the following is true when a general partnership is converted to an LLC?
A. The property must be sold to a third party who then immediately sells it to the LLC.
B. The conversion can be made retroactive for up to 2 years.
C. The profit and loss sharing terms must remain the same as they were in the partnership.
D. The general partners will retain unlimited personal liability for obligations incurred while the business was a partnership.
18) In the Northeast Ethanol, LLC case, the court pierced the defendant’s corporate veil after determining that
A. the plaintiffs could not find financing to build the ethanol plant
B. the defendant’s shareholder used the corporation to perpetrate fraud
C. the ethanol plant was an unwise investment, against the best interest of the parties
D. the plaintiff’s corporate directors were engaging in ultra vires activities
19) Which comment best describes the alter-ego doctrine in corporate law?
A. A corporation automatically becomes the alter ego of its shareholders
B. The president is the sole decision maker of a corporation
C. The board of directors is the alter ego of a corporation
D. Protection from personal shareholder liability can be forfeited if corporate formalities are not observed
20) If a corporation is properly incorporated in one state and wants authority to do business in second state, the corporation typically must
A. re-incorporate in the second state
B. do nothing because being incorporated in one state automatically entitles the corporation to do business in all states
C. register with the Interstate Commerce Commission as an alien corporation
D. obtain a certificate of authority from the second state
21) The DEF Corporation is incorporated in Texas. It wishes to do business in Oklahoma. Before DEF can legally do businesses in Oklahoma, which of the following must it do?
A. Nothing; DEF automatically has constitutional rights to do business in Oklahoma.
B. DEF must incorporate in Oklahoma.
C. DEF must qualify (register) to do business in Oklahoma.
D. DEF must domicile itself in Oklahoma.
22) What types of business can be converted to an LLC?
A. General partnerships only
B. General partnerships and limited partnerships only
C. Corporations and limited partnerships only
D. Corporations, general partnerships, and limited partnerships
23) Which of the following best describes the status of the employment at-will doctrine in the United States today? bus 415 final exam
A. It applies in most states to most employment relationships, but there are many exceptions that limit its application.
B. It applies more today than in the last century, and the quantity of corporate layoffs is evidence of this.
C. It today applies only to the employer, although in the past it applied to both the employee and employer.
D. It still applies today, but only to employees who are expressly told that they are an at-will employee when they are hired.
24) Which of the following rejected applicants may have a valid claim for discriminatory hiring practices?
A. A public health service did not hire a registered nurse because his shaking hands prevented him from administering injections.
B. A Catholic school did not hire a teacher because he was not Catholic.
C. A trucking company did not hire a truck driver because she was pregnant.
D. A university did not hire a 22-year-old woman to be a director of faculty because she was too young.
25) Which of the following people is protected from employment discrimination on the basis of age?
A. A 90-year-old person who wants a job as an airline pilot
B. A 50-year-old person who wants a job as an accountant
C. A 30-year-old person who wants a job as a waitress
D. A 10-year-old person who wants a job as a bartender
26) Marie works as a receptionist for a plumbing company. She works from 9 a.m. to 6 p.m. Monday through Friday. BUS415 Final Exam She earns $12 per hour, and is told how to do her job and what she should be working on at any particular time. Her boss does not withhold any taxes from her paycheck. Which of the following is true?
A. Marie would be treated as an employee because she is paid for the work that she does.
B. Marie would be treated as an employee because of the control exercised by the plumbing company over her work.
C. Marie would be treated as an independent contractor because she is paid hourly.
D. Marie would be treated as an independent contractor because the employer doesn’t take any taxes out of her check.
27) Company employee handbooks have been found in some cases to amount to a(n) ______________ exception to the employment at will doctrine.
A. apparent
B. tort
C. public policy
D. implied contract
28) Which of the following is a correct statement of the requirements for a Bona Fide Occupational Qualification (BFOQ)?
A. The occupational qualification is job-related and cost-effective.
B. The occupational qualification is job-related and nondiscriminatory.
C. The occupational qualification is job-related and is a business necessity.
D. The occupational qualification is rationally based and evenly applied.
29) What federal legal protection is there with respect to trade secrets?
A. Trade secrets are protected under the federal patent laws.
B. Trade secrets are protected under the federal copyright laws.
C. Trade secrets are protected under the Trade Secret Protection Act of 1952.
D. Trade secrets are protected under the Economic Espionage Act of 1996.
30) Which of the following is true about misappropriation of trade secrets?
A. Although it is not necessary that the trade secret be patented, the secret must be such that it could be patented.
B. Trade secrets are always protected regardless of the actions of the trade secret owner.
C. The plaintiff can recover damages from theft of a trade secret only if the defendant acquired the trade secret through unlawful means.
D. Injunctions are generally not available to protect trade secrets.
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