BUS 475 Final Exam Guide 4. Get an A++. - 90642

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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) Multinational corporations __________. 3) Balance sheet accounts are considered to be __________. 4) What is value chain management best defined as? 5) The primary purpose of the statement of cash flows is to __________. 6) In what situations will a static budget be most effective in evaluating a manager's effectiveness? 8) These are selected account balances on December 31, 2008. Land (location of the corporation's office building) $100,000 Land (held for future use) 150,000 Corporate Office Building 600,000 Inventory 200,000 Equipment 450,000 Office Furniture 100,000 Accumulated Depreciation 300,000 What is the net amount of property, plant, and equipment that will appear on the balance sheet? 9) Of the following companies, which one would not likely employ the specific identification method for inventory costing? 11) 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? 12) The cost principle requires that when assets are acquired, they be recorded at __________. 13) Which one of the following items is not generally used in preparing a statement of cash flows? 14) Managerial accounting __________. 15) A logical starting point from which the study of international trade begins is __________. 16) Without trade, __________. 17) Assume oligopoly firms are profit maximizers, they do not form a cartel, and they take other firms' production levels as given. Then in equilibrium the output effect __________. 18) To move the allocation of resources closer to the social optimum, policymakers should typically try to induce firms in an oligopoly to __________. 19) When, in a particular market, the law of demand and the law of supply both apply, the imposition of a binding price ceiling in that market causes quantity demanded to be __________. 20) If a price ceiling is a binding constraint on the market, __________. 21) A tax on an imported good is called a __________. 22) The political business cycle refers to __________. 23) Real GDP __________. 24) The model of short-run economic fluctuations focuses on the price level and __________. 25) In the market for foreign-currency exchange in the open economy macroeconomic model, the amount of net capital outflow represents the quantity of dollars __________. 26) The open-economy macroeconomic model examines the determination of __________. 27) The balance of payment account is made up of: 28) To be competitive in a global economy, Europeans must increase their level of: 29) Which of these refers to the practices aimed at discovering and harnessing an organization's intellectual resources? 30) ABC International carefully watches the actions of its most innovative competitor and learns from them. ABC can establish a low-cost position by: 31) The best way for an employer to find out if a potential employee can do a job is by __________. 32) A manager's ability to stimulate people to be high performers is referred to as: 33) 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: 34) The pursuit of lucrative opportunities by enterprising individuals is called: 35) Listening to employee suggestions, gaining support for organizational objectives and fostering an atmosphere of teamwork are all considered: 36) Managers will utilize __________ skills with increasing frequency as they rise within an organization. 37) As related to managing of human resources, diversity refers to: 38) The term used to refer to all kinds of differences including religious affiliation, age, disability status, economic class and lifestyle in addition to gender, race, ethnicity and nationality is: 39) 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? 40) Which of these represent skills that managers need? 41) The basic components of an effective sexual harassment policy include the following EXCEPT: 42) Which of the following statements is true? 43) 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 a left-tailed test at = .05 we would __________. 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? A. ± .07357 45) Use the following table to answer question: P(S | W) is approximately _____. 46) 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? 47) In a right-tail test, a statistician came up with a z test statistic of 1.469. What is the p-value? 48) In lean systems, if a defective product is found, which of the following is generally NOT done? 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. Which conclusion is not correct? 50) In statistical process control a p-chart could __________. 52) Which one of the following statements about managerial inputs to production and staffing plans is best? 53) The costs of delivering products in the _____ channel are much higher than delivering products in the _____ channel. 54) _____ is the integration of economic, social, cultural, and ecological facets of life, enabled by information. A. globalization B. nationalization C. regionalization D. business environment 55) Which of the following statements is correct? 56) In the _____ phase of the decision making process, managers test potential solutions “on paper.” 57) Which of the following is NOT an advantage of the buy option for acquiring IS applications? 58) Which of the following is not a reason that managers need IT support? 59) _____ 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. 60) Information-based industries are most susceptible to which one of Porter’s five forces? 61) _____ is the acquisition and efficient use of resources in accomplishing organizational goals. 62) _____ is the efficient and effective execution of specific tasks. 63) Disadvantages of using current liabilities as opposed to long-term debt include: 64) Bondholders have a priority claim on assets ahead of: 65) Which of the following best represents operating income? 66) Which of the following is most consistent with the hedging principle in working capital management? 67) PepsiCo calculates unlevered betas for each peer group in order to: 68) 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. 69) The common stockholders are most concerned with: 70) An increase in future value can be caused by an increase in the __________. 71) 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 72) 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? 73) Exchange rate risk: 74) If the quote for a forward exchange contract is greater than the computed price, the forward contract is: 75) Which of the following best represents the stream of income that is available to common stockholders? 76) The statement, "Of course people will buy our product--each of its features is better than the competition," most closely reflects which consumer behavior concept? A. needs B. reference groups C. psychographics D. the economic-buyer theory E. competitive advantage 77) A firm's "marketing mix" decision areas would NOT include: A. Price. B. People. C. Promotion. D. Place. E. Product. 78) Clustering techniques applied to segmenting markets __________. A. eliminate the need for marketing managers to specify in advance what dimensions might be relevant for grouping consumers B. remove the need for managerial judgment C. usually require computers to group people based on data from market research D. doesn’t apply to demographic data E. is time consuming and expensive 79) The "four Ps" of a marketing mix are: A. Production, Personnel, Price, and Physical Distribution B. Promotion, Production, Price, and People C. Potential customers, Product, Price, and Personal Selling D. Product, Price, Promotion, and Profit E. Product, Place, Promotion, and Price 80) The managerial process of developing and maintaining a match between the resources of an organization and its market opportunities is called: A. marketing strategy planning. B. marketing programming. C. management by objective. D. market planning. E. strategic (management) planning. 81) The economists' view of buyers: A. assumes that they always buy the lowest-price alternative. B. is based on the idea that consumers value time and select the first alternative they learn about. C. puts a great deal of emphasis on differences in buying behavior related to individual differences among consumers. D. None of these are true E. emphasizes psychological variables rather than social influences. 82) __________ is a marketing management aid which refers to how customers think about proposed and/or present brands in a market. A. Market scanning B. Positioning C. Brand familiarity D. Customer relationship management (CRM) E. Market segmentation 83) In comparison to the buying of final consumers, the purchasing of organizational buyers: A. leans basically toward economy, quality, and dependability. B. is even less predictable. C. is always based on competitive bids from multiple suppliers. D. is strictly economic and not at all emotional. E. is always emotional. 84) Regarding organizational buying, the people who have the power to select or approve the supplier--especially for larger purchases--are called: A. buyers. B. gatekeepers. C. deciders. D. influencers. E. users. 85) An Australian wine producer, facing declining sales at home, set up a new channel of distribution to sell wine in the United States. This seems to be an effort at: A. market penetration. B. product development. C. diversification. D. market development. E. stratification. 86) The three basic tasks of ALL managers, according to the text, are: A. execution, feedback, and control. B. hiring, training, and compensating. C. marketing, production, and finance. D. planning, staffing, and evaluating. E. planning, implementation, and control. 87) The managerial process of developing and maintaining a match between the resources of an organization and its market opportunities is called: A. marketing strategy planning. B. strategic (management) planning. C. marketing programming. D. management by objective. E. market planning. 88) Which of the following is correct about interpretive rules? A. They must be accompanied by substantive rules. B. All federal administrative agencies have implied power to make interpretive rules. C. They require public notice and participation to create. D. They do not establish new law. E. Interpretive rules are not subject to judicial review. 89) To be guilty of monopolization, the defendant must: 90) The tort of intentional interference with contractual relations requires the following except: 91) The tort of palming off involves: 92) Which of the following is correct about litigating commercial disputes? 93) An agent’s duty of notification can best be described as a duty to: 94) Which of the following statements is true regarding the relationship of law and ethics? 95) Which of the following is true about “proof of claims?” 96) An agent’s obligation to perform in accordance with the terms of the agency arrangement is the agent’s duty of: 97) Which social responsibility theory has been advocated by Novel Prizewinning economist Milton Friedman? 98) Which country does the text describe as becoming the largest producer and consumer of many of the world's goods? 99) One study found that manufacturing labor costs about _____ an hour in China, compared to _____ dollars in the United States. 100) Although the U.S. has had a longstanding agreement with _____ after the passage of NAFTA, _____ became the United States' second largest trading partner.
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