BUS 475 Final Exam
1. 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?
2. Managerial accounting __________.
3. What is value chain management best defined as?
4. The income statement and balance sheet columns of Pine Company’s worksheet reflects the following totals:
The net income (or loss) for the period is __________.
5. The standards and rules that are recognized as a general guide for financial reporting are called __________.
6. If a company reports a net loss, it __________.
7. 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?
8. The cost principle requires that when assets are acquired, they be recorded at __________.
9. Which one of the following is a product cost?
10. What exists when budgeted costs exceed actual results?
11. The primary purpose of the statement of cash flows is to __________.
12. Multinational corporations __________.
13. What exists when budgeted costs exceed actual results?
14. A company just starting in business purchased three merchandise inventory items at the following prices. First purchase $80; Second purchase $95; Third purchase $85. If the company sold two units for a total of $240 and used FIFO costing, the gross profit for the period would be _____.
15. Institutions in the economy that help to match one person’s saving with another person’s investment are collectively called the __________.
16. Which of the following statements about GDP is correct?
17. One characteristic of an oligopoly market structure is:
18. In computing GDP, market prices are used to value final goods and services because __________.
19. To move the allocation of resources closer to the social optimum, policymakers should typically try to induce firms in an oligopoly to __________.
20. The price of a good that prevails in a world market is called the
21. A rational decision maker __________.
22. Many U.S. business leaders argue that the current state of U.S. net exports is the result of __________.
23. The political business cycle refers to __________.
24. The part of the balance of payments account that lists all long-term flows of payments is called the:
25. In general, the longest lag for __________.
26. 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 __________.
27. Most economists use the aggregate demand and aggregate supply model primarily to analyze __________.
28. ABC International carefully watches the actions of its most innovative competitor and learns from them. ABC can establish a low-cost position by:
29. Which of these describes a vision, as it pertains to leadership?
30. The pursuit of lucrative opportunities by enterprising individuals is called:
31. One study found that manufacturing labor costs about _____ an hour in China, compared to _____ dollars in the United States.
32. Japanese manufacturers’ kaizen (continuous improvement) programs enable them to maintain:
33. Teams that operate separately from the regular work structure and exist temporarily are known as:
34. 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:
35. 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:
36. The pursuit of lucrative opportunities by enterprising individuals is called:
37. The best way for an employer to find out if a potential employee can do a job is by __________.
38. Building a dynamic organization is another way of describing which function of management?
39. An organization that is managed aggressively and has growth and high profits as primary objectives may be considered a(n):
40. The most dominant areas in the global economy include:
41. To be competitive in a global economy, Europeans must increase their level of:
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 _____.
43. 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?
44. A poll showed that 48 out of 120 randomly chosen graduates of California medical schools last year intended to specialize in family practice. What is the width of a 90% confidence interval for the proportion that plan to specialize in family practice?
45. A financial institution wishes to estimate the mean balances owed by its credit card customers. The population standard deviation is estimated to be $300. If a 98 percent confidence interval is used and an interval of ±$75 is desired, how many cardholders should be sampled?
46. Independent events A and B would be consistent with which of the following statements:
47. 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?
48. Which one of the following statements concerning production and staffing plans is best?
49. Suppose the estimated quadratic model Yt = 500 + 20 t – t2 is the best-fitting trend of sales of XYZ Inc. using data for the past twenty years (t = 1, 2,.., 20).
Which statement is incorrect?
50. Which is not a tool of statistical quality control?
51. In a network diagram, an activity:
52. The one-worker, multiple machines approach functions as:
53. The Global, Web-Based Platform enables individuals to do which of the following?
54. Search engines and metasearch engines are examples of which network application?
55. A set of programs that enable the hardware to process data is _____.
56. Zappos built the majority of its information systems using which of the following?
57. When customers access a Web site and make purchases, they generate __________.
58. Which of the following are not provided by digital dashboards?
59. Which of the following is not a function of functional area information systems?
60. Credit card companies would most likely use which of the following to check for fraudulent credit card use?
61. Computer support is greatest for which of the following problems?
62. International Game Technologys new ERP system produced all of the following benefits except:
63. If the quote for a forward exchange contract is greater than the computed price, the forward contract is:
64. Which of the following best represents the stream of income that is available to common stockholders?
65. You hold a portfolio with the following securities:
Compute the expected return and beta for the portfolio.
66. An increase in future value can be caused by an increase in the __________.
67. A stock with a beta greater than 1.0 has returns that are _____ volatile than the market, and a stock with a beta of less than 1.0 exhibits returns which are _____ volatile than those of the market portfolio.
68. Disadvantages of using current liabilities as opposed to long-term debt include:
69. Which of the following represents an attempt to measure the earnings of the firms operations over a given time period?
70. A stock with a beta greater than 1.0 has returns that are _____ volatile than the market, and a stock with a beta of less than 1.0 exhibits returns which are _____ volatile than those of the market portfolio.
71. According to the hedging principle, permanent assets should be financed with _____ liabilities.
72. Given the following annual net cash flows, determine the IRR to the nearest whole percent of a project with an initial outlay of $1,520.
73. Which of the following best represents operating income?
74. Bondholders have a priority claim on assets ahead of:
75. Bell Weather, Inc. has a beta of 1.25. The return on the market portfolio is 12.5%, and the risk-free rate is 5%. According to CAPM, what is the required return on this stock?
76. Coca-Cola is taking advantage of the new willingness of Chinese leaders to engage in international trade by marketing its soft drinks in China. What type of opportunity is Coke pursuing?
77. When one considers the strategy decisions organized by the four Ps, branding is related to packaging as:
78. A cluster analysis of the “toothpaste market” would probably show that:
79. When one considers the strategy decisions organized by the four Ps, branding is related to packaging as:
80. Economists’ economic-buyer theory assumes that __________.
82. When evaluating macro-marketing:
84. The basic objective of the U.S. market-directed economic system is to:
85. Comparing GDP for foreign countries can help a marketing manager evaluate potential markets if the manager remembers that:
86. The basic objective of the U.S. market-directed economic system is to:
87. The three basic tasks of ALL managers, according to the text, are:
88. Which of the following terms need not be disclosed under Truth-in-Lending Act?
89. Justin was hired in February of 2004 as a salesperson. There is no written employment contract, and Justin is paid on a commission basis. Justins manager has said to Justin on several occasions that if Justin continues to meet his sales quotas, that the company will keep him around for a long time. Justin has always met his sales quotas, but is told one day that they have decided to replace him because he does not project the image that the company wants. If Justin is an at-will employee, which of the following is true?
90. Which of the following is correct about litigating commercial disputes?
91. Mary arrived at work one day, and her boss said to her, Thats the ugliest dress I have ever seen. Because you wore that to work today, you are fired. Assuming that Mary is an at-will employee, which of the following is true?
92. Product disparagement differs from defamation of a nonpublic figure in that:
93. Which of the following is correct with regard to the relationship between law and ethics?
94. Information which comes to the knowledge of an agent is:
95. Which of the following terms is not required to be disclosed under the Truth-in-Lending Act?
96. The Houston-based energy company that filed for Chapter 11 bankruptcy and whose business conduct is one of the grossest examples of corporate greed and fraud in America was:
97. Which of the following is true about trademark registration?
98. One study found that manufacturing labor costs about _____ an hour in China, compared to _____ dollars in the United States.
99. Although the U.S. has had a longstanding agreement with _____ after the passage of NAFTA, _____ became the United States’ second largest trading partner.
100. One study found that manufacturing labor costs about _____ an hour in China, compared to _____ dollars in the United States.
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