BUS 475 Final Exam

| August 14, 2017

1.
What is value chain management best defined as?
2.
The standards and rules that are recognized as a general
guide for financial reporting are called __________.
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
Closing entries
are necessary for __________.
4.
Which list below best describes the major services performed
by public accountants?
5.
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?
6.
The major reporting standard for management accounts is
__________.
7.
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 _____.
8.
Of the following companies, which one would not likely
employ the specific identification method for inventory costing?
9.
One of Astro Company’s activity cost pools is machine
setups, with estimated overhead of $150,000. Astro produces sparklers (400
setups) and lighters (600 setups). How much of the machine setup cost pool
should be assigned to sparklers?
10.
If a company reports a net loss, it __________.
11.
The cost principle requires that when assets are acquired,
they be recorded at __________.
12.
The cost principle is the basis for preparing financial
statements because it is __________.
13.
A well-designed activity-based costing system starts with
__________.
14.
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 __________.
15.
Resources are __________.
16.
There are two types of markets in which firms face some
competition yet are still able to have some control over the prices of their
products. The names given to these market structures are __________.
17.
To move the allocation of resources closer to the social
optimum, policymakers should typically try to induce firms in an oligopoly to
__________.
18.
In computing GDP, market prices are used to value final
goods and services because __________.
19.
A tax on an imported good is called a __________.
20.
A country’s consumption possibilities frontier can be
outside its production possibilities frontier if __________.
21.
If a price ceiling is a binding constraint on the market,
__________.
22.
Which of the following statements about GDP is correct?
23.
The part of the balance of payments account that lists all
long-term flows of payments is called the:
24.
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?
25.
The principal lag for monetary policy __________.
26.
Over the past two decades, the United States has __________.

27.
Many U.S. business leaders argue that the current state of
U.S. net exports is the result of __________.
28.
The pursuit of lucrative opportunities by enterprising
individuals is called:
29.
The most dominant areas in the global economy include:
30.
Teams that work on long-term projects but disband once the
work is completed are known as:
31.
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:
32.
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?
33.
Japanese manufacturers’ kaizen (continuous improvement)
programs enable them to maintain:
34.
When a company establishes technology leadership by
pioneering unique products or services that command premium prices, it has
benefited from a:
35.
To be competitive in a global economy, Europeans must
increase their level of:
36.
As related to managing of human resources, diversity refers
to:
37.
Managers will utilize __________ skills with increasing
frequency as they rise within an organization.
38.
A leader is:
39.
Which of the following statements does NOT support Total
Quality Management?
40.
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:
41.
The basic components of an effective sexual harassment
policy include the following EXCEPT:
42.
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?
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, the median is _____.
44.
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)?
45.
Use the following table to answer question:

P(M
A) is approximately _____.
46.
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
__________.
47.
Which of the following statements is true?
48.
Suppose that the optimal values of the decision variables to
a two-variable linear programming problem remain the same as long as the slope
of the objective function lies between the slopes of the following two
constraints:
2X1 + 3X2 26
2X1 + 2X2 20
The current
objective function is:
8X1 + 9X2 = Z
Which of the
following statements about the range of optimality on c1 is TRUE?
49.
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?

50.
Which is not a tool of statistical quality control?
51.
In lean systems, if a defective product is found, which of
the following is generally NOT done?
52.
Theoretically, service capacity must exceed demand, lest
queues become infinitely long. If capacity does not exceed demand, what is
likely to happen?
53.
Various organizations that promote fair and responsible use
of information systems often develop __________.
54.
Which of the following statements is correct?
55.
What is _____ is not necessarily _____.
56.
Search engines and metasearch engines are examples of which
network application?
57.
Which of the following is NOT an advantage of the buy option
for acquiring IS applications?
58.
Which of the following statements about information systems
is not correct?
59.
Which of the following is not a reason that managers need IT
support?
60.
The management cockpit best exemplifies which type of
system?
61.
_____ is the efficient and effective execution of specific
tasks.
62.
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 _____.
63.
According to the hedging principle, permanent assets should
be financed with _____ liabilities.
64.
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.
65.
Exchange rate risk:
66.
What is the yield to maturity of a nine-year bond that pays
a coupon rate of 20% per year, has a $1,000 par value, and is currently priced
at $1,407? Round your answer to the nearest whole percent and assume annual
coupon payments.
67.
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?
68.
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.)
69.
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.
70.
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?
71.
At 8% compounded annually, how long will it take $750 to
double?
72.
Which of the following represents an attempt to measure the
earnings of the firm’s operations over a given time period?
73.
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.
Year Net Cash Flow
1
$1,000
2
$1,500
3
$ 500
74.
Disadvantages of using current liabilities as opposed to
long-term debt include:
75.
PepsiCo calculates unlevered betas for each peer group in
order to:
76.
The economists’ view of buyers:
77.
__________ is a marketing management aid which refers to how
customers think about proposed and/or present brands in a market.
78.
Comparing GDP for foreign countries can help a marketing
manager evaluate potential markets if the manager remembers that:
79.
In an effort to increase its total sales, Champion has
started exporting its spark plugs for use by several German auto producers.
Champion is pursuing a _____ opportunity.
80.
The three basic tasks of ALL managers, according to the
text, are:
81.
When evaluating macro-marketing:
82.
When one considers the strategy decisions organized by the
four Ps, branding is related to packaging as:
83.
In comparison to the buying of final consumers, the
purchasing of organizational buyers:
84.
“Positioning”:
85.
Analysis of demographic dimensions:
86.
A cluster analysis of the “toothpaste market”
would probably show that:
87.
Good marketing strategy planners know that:
88.
The tort of intentional interference with contractual
relations requires the following except:
89.
Overtime pay is required to be paid to nonexempt employees
who work:
90.
What type of commercial speech did the U.S. Supreme Court
say was protected in the Greater New Orleans Broadcasting Association, Inc. v.
United States case?
91.
Minimum wages, hours of employment, and child labor are
regulated by the:
92.
Which of the following statements is not true under the Fair
Labor Standards Act?
93.
An agent’s obligation to perform in accordance with the
terms of the agency arrangement is the agent’s duty of:
94.
Which of the following lists, in descending priority, of
sources considered by most courts in settling questions of international law?
95.
Which of the following is correct about the states’ powers
regarding foreign affairs?
96.
Which social responsibility theory has been advocated by
Novel Prizewinning economist Milton Friedman?
97.
A “closely held corporation” is a corporation that is owned
by:
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. Which country
does the text describe as becoming the largest producer and consumer of many of
the world’s goods?

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