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 _____.
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?
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?
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?
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 Technology’s
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 firm’s 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 __________.
81.
"Positioning":
82.
When evaluating macro-marketing:
83.
"Positioning":
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. Justin’s 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, “That’s 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.