1. 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
To enter the net income (or loss) for the period into the above worksheet requires an entry to the __________.
2. Which one of the following is a product cost?
3. 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
The net income (or loss) for the period is __________.
4. If a company reports a net loss, it __________.
5. Which one of the following items is not generally used in preparing a statement of cash flows?
6. The first step in activity-based costing is to __________.
7. Which list below best describes the major services performed by public accountants?
8. 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?
9. What effect do current technology changes have on managerial accounting?
10. 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?
11. “Generally accepted” in the phrase generally accepted accounting principles means that the principles __________.
12. What is the preparation of reports for each level of responsibility in the company’s organization chart called?
13. These are selected account balances on December 31, 2008.
Land (location of the corporation’s office building) $150,000
Land (held for future use) 225,000
Corporate Office Building 900,000
Office Furniture 150,000
Accumulated Depreciation 450,000
What is the net amount of property, plant, and equipment that will appear on the balance sheet?
14. A well-designed activity-based costing system starts with __________.
15. In computing GDP, market prices are used to value final goods and services because __________.
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 __________.
17. Lekeisha’s income exceeds her expenditures. Lekeisha is a __________.
18. When a firm sells a good or a service, the sale contributes to the nation’s income __________.
19. The general term for market structures that fall somewhere in-between monopoly and perfect competition is __________.
20. The price of a good that prevails in a world market is called the
21. One characteristic of an oligopoly market structure is:
22. The Federal Reserve will tend to tighten monetary policy when __________.
23. The model of aggregate demand and aggregate supply explains the relationship between __________.
24. The political business cycle refers to __________.
25. The balance of payment account is made up of:
26. In general, the longest lag for __________.
27. The Federal Open Market Committee __________.
28. Which of these refers to the practices aimed at discovering and harnessing an organization’s intellectual resources?
29. Having individuals actually do the job they are applying for as a test to see if they can do it is __________.
30. Teams that operate separately from the regular work structure and exist temporarily are known as:
31. Teams that work on long-term projects but disband once the work is completed are known as:
32. Managers will utilize __________ skills with increasing frequency as they rise within an organization.
33. Building a dynamic organization is another way of describing which function of management?
34. Which of the following has proven to be a particularly good predictor for jobs that require cognitive complexity?
35. The pursuit of lucrative opportunities by enterprising individuals is called:
36. One of the most important contributors to total quality management has been the introduction of statistical tools to analyze the causes of product defects in an approach called:
37. A leader is:
38. The most dominant areas in the global economy include:
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:
40. The basic components of an effective sexual harassment policy include the following EXCEPT:
41. An invisible barrier that makes it difficult for certain groups, such as minorities and women, to move beyond a certain level in the organizational hierarchy is referred to as the:
42. Use the following table to answer question:
P(M A) is approximately _____.
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. Independent events A and B would be consistent with which of the following statements:
45. To estimate the average annual expenses of students on books and class materials a sample of size 36 is taken. The average is $850 and the standard deviation is $54. A 99% confidence interval for the population mean is __________.
46. Use the following table to answer question:
Are Service provider and county independent events?
47. Thirty patients are selected from a filing cabinet containing 812 patient folders by choosing every 27th patient folder. Which sampling method is this?
48. 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?
49. A computer analysis reveals that the best-fitting trend model is Yt = 4.12 e 0.987 t. The trend was fitted using year-end common stock prices for Melodic Kortholt Outlet for the last six years. The R2 is 0.8571.
If we fit a linear trend to data that are growing exponentially __________.
50. Assume that the arrival of airplanes at a one-runway airport is a Poisson distribution with a mean rate of = 8 planes per hour. The landing time is an exponential distribution with a mean of 5 minutes per plane. What is the mean number of planes in the system?
51. In an activity-on-node [AON] network, the nodes represent ____________, whereas the arcs represent ____________.
52. Queuing models use an A/B/C notation. What do these variables represent?
53. What is _____ is not necessarily _____.
54. Various organizations that promote fair and responsible use of information systems often develop __________.
55. In the _____ phase of the decision making process, managers test potential solutions “on paper.”
56. It is very difficult to manage data for which of the following reasons?
57. The force behind globalization in _____ was the amount of muscle, horsepower, wind power, or steam power that a country could deploy.
58. Which of the following is not a function of functional area information systems?
59. A company wants to use data from past promotional mailings to identify people who would likely respond favorably to future mailings. This company would most likely use _____.
60. The management cockpit best exemplifies which type of system?
61. _____ is a process that helps organizations identify, select, organize, disseminate, transfer, and apply expertise that are part of the organization’s memory and typically reside inside the organization in an unstructured manner.
62. International Game Technology’s new ERP system produced all of the following benefits except:
63. Mortgage bonds:
64. According to the hedging principle, permanent assets should be financed with _____ liabilities.
65. 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.
66. The common stockholders are most concerned with:
67. An increase in future value can be caused by an increase in the __________.
68. You hold a portfolio with the following securities:
Security Percent of Portfolio Beta Return
X Corporation 20% 1.35 14%
Y Corporation 35% .95 10%
Z Corporation 45% .75 8%
Compute the expected return and beta for the portfolio.
69. At what rate must $400 be compounded annually for it to grow to $716.40 in 10 years?
70. 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?
71. 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?
72. Exchange rate risk:
73. Dublin International Corporation’s marginal tax rate is 40%. It can issue three-year bonds with a coupon rate of 8.5% and par value of $1,000. The bonds can be sold now at a price of $938.90 each. The underwriters will charge $23 per bond in flotation costs. Determine the approximate after-tax cost of debt for Dublin International to use in a capital budgeting analysis.
74. PepsiCo calculates unlevered betas for each peer group in order to:
75. If the quote for a forward exchange contract is greater than the computed price, the forward contract is:
76. The difference between target marketing and mass marketing is that target marketing:
77. The basic objective of the U.S. market-directed economic system is to:
78. The managerial process of developing and maintaining a match between the resources of an organization and its market opportunities is called:
79. When evaluating macro-marketing:
81. When one considers the strategy decisions organized by the four Ps, branding is related to packaging as:
82. __________ is a marketing management aid which refers to how customers think about proposed and/or present brands in a market.
83. The three basic tasks of ALL managers, according to the text, are:
84. When doing “positioning,” a marketing manager should:
85. In comparison to the buying of final consumers, the purchasing of organizational buyers:
86. Good marketing strategy planners know that:
87. The managerial process of developing and maintaining a match between the resources of an organization and its market opportunities is called:
88. Bob, an employee of Risky Manufacturing, Inc. is accidentally injured by a fellow worker while working his shift. Under workers’ compensation, Bob can:
89. In which of the following are these steps of a criminal case listed in the correct order?
90. Probable cause is most directly associated with which step of the criminal process?
91. Under Section 2 of the Sherman Act, rather than making a presumption whether monopoly power exists, the courts will examine all the facts and circumstances to determine whether monopoly power exists when the defendant holds between _____ percent and _____ percent of the relevant market:
92. Which of the following statements is not true under the Fair Labor Standards Act?
93. If you are a creditor, your best protection in the event of the debtor’s bankruptcy (including protection from the debtor’s other creditors) is usually obtained if you had previously received:
94. Which of the following statements is true regarding the relationship of law and ethics?
a. In some cases ethics will require a higher standard of conduct than the law, but never vice versa.
95. Which of the following lists, in descending priority, of sources considered by most courts in settling questions of international law?
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. If a minor wishes to be bound to a contract after becoming an adult, she must:
98. One study found that manufacturing labor costs about _____ an hour in China, compared to _____ dollars in the United States.
99. Which country does the text describe as becoming the largest producer and consumer of many of the world’s goods?
100. Although the U.S. has had a longstanding agreement with _____ after the passage of NAFTA, _____ became the United States’ second largest trading partner.