Question1. If a company reports a net loss, it __________.2. Which one of the following items is not generally used

1. If a company reports a net loss, it __________.

2. Which one of the following items is not generally used in preparing a statement of cash flows?

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

4. A well-designed activity-based costing system starts with __________.

5. The cost of an asset and its fair market value are __________.

6. 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?

7. 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 __________.

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

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

10. 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 _____.

11. Which list below best describes the major services performed by public accountants?

12. Managerial accounting __________.

13. Multinational corporations __________.

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. If a binding price ceiling were imposed in the computer market, __________.

17. Which of the following would be most likely to contribute to the breakdown of a cartel in a natural resource (e.g., bauxite) market?

18. The general term for market structures that fall somewhere in-between monopoly and perfect competition is __________.

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

20. Lucy starts her own psychiatric practice, but her expenditures to open the practice exceed her income. Lucy is a __________.

21. 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 __________.

Economics

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

23. The principal lag for monetary policy __________.

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. The Federal Open Market Committee __________.

27. The model of aggregate demand and aggregate supply explains the relationship between __________.

Management

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

29. Which of the following statements does NOT support Total Quality Management?

30. Which of these represent skills that managers need?

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

32. 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:

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

34. 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:

35. As related to managing of human resources, diversity refers to:

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

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

38. Listening to employee suggestions, gaining support for organizational objectives and fostering an atmosphere of teamwork are all considered:

39. A leader is:

40. 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:

41. 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:

42. 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.

Assuming b1 is significant, if Income decreases by 1000 we would predict that Crime will __________.

43. In a right-tail test, a statistician came up with a z test statistic of 1.469. What is the p-value?

44. Use the following table to answer question: 

P(S | W) is approximately _____.

45. 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?

46. 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?

47. Jolly Blue Giant Health Insurance (JBGHI) is concerned about rising lab test costs and would like to know what proportion of the positive lab tests for prostate cancer are actually proven correct through subsequent biopsy. JBGHI demands a sample large enough to ensure an error of ± 2% with 90% confidence. What is the necessary sample size?

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. You are faced with a linear programming objective function of:

Max P = $20X + $30Y

and constraints of:

3X + 4Y = 24 (Constraint A)

5X – Y = 18 (Constraint B)

You discover that the shadow price for Constraint A is 7.5 and the shadow price for Constraint B is 0. Which of these statements is TRUE?

50. In a network diagram, an activity:

51. In an activity-on-node [AON] network, the nodes represent ____________, whereas the arcs represent ____________.

52. Companies using lean systems generally have:

53. Networks enable which of the following applications?

54. The Global, Web-Based Platform enables individuals to do which of the following?

55. Search engines and metasearch engines are examples of which network application?

56. The costs of delivering products in the _____ channel are much higher than delivering products in the _____ channel.

57. What is _____ is not necessarily _____.

58. Computer support is greatest for which of the following problems?

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

60. Which of the following are not provided by digital dashboards?

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

62. Which of the following statements about information systems is not correct?

63. 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?

64. At what rate must $400 be compounded annually for it to grow to $716.40 in 10 years?

65. Mortgage bonds:

66. According to the hedging principle, permanent assets should be financed with _____ liabilities.

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