Question1. In what situations will a static budget be most effective in evalu

1. In what situations will a static budget be most effective in evaluating a manager’s effectiveness?

2. The cost principle is the basis for preparing financial statements because it is __________.

3. 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?

4. The conceptual framework developed by the Financial Accounting Standards Board __________.

5. The primary purpose of the statement of cash flows is to __________.

6. What effect do current technology changes have on managerial accounting?

7. 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?

8. 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 _____.

9. Of the following companies, which one would not likely employ the specific identification method for inventory costing?

10. The major reporting standard for management accounts is __________.

11. 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?

12. 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?

13. 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 __________.

14. The standards and rules that are recognized as a general guide for financial reporting are called __________.

15. Which of the following statements about GDP is correct?

16. Institutions in the economy that help to match one person’s saving with another person’s investment are collectively called the __________.

17. The price of a good that prevails in a world market is called the

18. A logical starting point from which the study of international trade begins is __________.

19. To move the allocation of resources closer to the social optimum, policymakers should typically try to induce firms in an oligopoly to __________.

20. A rational decision maker __________.

21. Lekeisha’s income exceeds her expenditures. Lekeisha is a __________.

22. In the market for foreign-currency exchange in the open economy macroeconomic model, the amount of net capital outflow represents the quantity

of dollars __________.

23. 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

__________.

24. Many U.S. business leaders argue that the current state of U.S. net exports is the result of __________.

25. In the open-economy macroeconomic model, other things the same, a decrease in the interest rate shifts __________.

26. In general, the longest lag for __________.

27. 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?

28. 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:

29. To be competitive in a global economy, Europeans must increase their level of:

30. Teams that work on long-term projects but disband once the work is completed are known as:

31. Managers will utilize __________ skills with increasing frequency as they rise within an organization.

32. The best way for an employer to find out if a potential employee can do a job is by __________.

33. Which of the following best describes a mental image of a possible and desirable future state of the organization?

34. Which of these describes a vision, as it pertains to leadership?

35. ABC International carefully watches the actions of its most innovative competitor and learns from them. ABC can establish a low-cost position by:

36. An organization that is managed aggressively and has growth and high profits as primary objectives may be considered a(n):

37. __________ is the process of working with people and resources to accomplish organizational goals.

38. Building a dynamic organization is another way of describing which function of management?

39. A manager’s ability to stimulate people to be high performers is referred to as:

40. 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?

41. When a company establishes technology leadership by pioneering unique products or services that command premium prices, it has benefited from a:

42. Which of the following statements is true?

43. Sampling error can be reduced by __________.

44. 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 __________.

45. Use the following table to answer question:

P(M A) 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, the standard deviation is approximately _____.

47. Use the following table to answer question:

Are Service provider and county independent events?

48. A project has three paths. A–B–C has a length of 25 days. A–D–C has a length of 15 days. Finally, A–E–C has a length of 20 days. Which one of the following statements is TRUE?

49. Likely reasons for inaccurate control limits would include which of the following?

50. 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

51. 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?

52. In statistical process control a p-chart could __________.

53. In a network diagram, an activity:

54. Fundamental points about network computing in organizations include all of the following except:

55. Which of the following is NOT an advantage of the buy option for acquiring IS applications?

56. Which of the following are disadvantages of the buy option for acquiring IS applications?

57. Which of the following statements is correct?

58. It is very difficult to manage data for which of the following reasons?

59. _____ is the acquisition and efficient use of resources in accomplishing organizational goals.

60. The management cockpit best exemplifies which type of system?

61. Which of the following is not a function of functional area information systems?

62. Geocoding is __________.

63. _____ is the efficient and effective execution of specific tasks.

64. 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.

65. Which of the following represents an attempt to measure the earnings of the firm’s operations over a given time period?

66. 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.

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. 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?

69. 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?

70. 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?

71. 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.

72. Mortgage bonds:

73. Suppose you determine that the NPV of a project is $1,525,855. What does that mean?

74. Exchange rate risk:

75. At 8% compounded annually, how long will it take $750 to double?

76. Which of the following is most consistent with the hedging principle in working capital management?

77. The economists’ view of buyers:

78. 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:

79. The managerial process of developing and maintaining a match between the resources of an organization and its market opportunities is called:

80. “Marketing strategy planning” means:

81. __________ is a marketing management aid which refers to how customers think about proposed and/or present brands in a market.

82. The clustering techniques that can be used in segmenting:

83. A firm’s “marketing mix” decision areas would NOT include:

84. A cluster analysis of the “toothpaste market” would probably show that:

85. The difference between target marketing and mass marketing is that target mar

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