Question1. The cost principle is the basis for preparing financial statements because it is __________.2. The income statement and balance sheet columns of Pine Company’s wo

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

2. 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 __________.

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

To enter the net income (or loss) for the period into the above worksheet requires an entry to the __________.

4. The first step in activity-based costing is to __________.

5. 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 _____.

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

7. What is value chain management best defined as?

8. Balance sheet accounts are considered to be __________.

9. 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

Inventory 300,000

Equipment 675,000

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?

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. Managerial accounting __________.

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

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

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

15. In order to be successful, a cartel must __________.

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

17. 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 __________.

18. Resources are __________.

19. Game theory is important for the understanding of __________.

20. In economics, the cost of something is __________.

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

22. The part of the balance of payments account that lists all long-term flows of payments is called the:

23. The open-economy macroeconomic model examines the determination of __________.

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

25. Real GDP __________.

26. The principal lag for monetary policy __________.

27. In general, the longest lag for __________.

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

29. Which of these refers to the practices aimed at discovering and harnessing an organization’s intellectual resources?

30. The most dominant areas in the global economy include:

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

32. Which of these represent skills that managers need?

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. The basic components of an effective sexual harassment policy include the following

EXCEPT:

36. 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:

37. 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:

38. 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:

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

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

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

42. 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 _____.

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. 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 __________.

45. 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. From this information, we can conclude that __________.

46. From its 32 regions, the Federal Aviation Administration selects 5 regions, and then randomly audits 20 departing commercial flights in each region for compliance with legal fuel and weight requirements. This is __________.

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 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. Companies using lean systems generally have:

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

51. 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?

52. The one-worker, multiple machines approach functions as:

53. Which of the following statements is correct?

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

55. Zappos built the majority of its information systems using which of the following?

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

57. A set of programs that enable the hardware to process data is _____.

58. Credit card companies would most likely use which of the following to check for fraudulent credit card use?

59. __________ integrate the planning, management, and use of all of an organization’s resources, and are designed to tightly integrate the functional areas of the organization.

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

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. Which of the following is not a reason that managers need IT support?

63. 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.

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

65. Which of the following best represents the stream of income that is available to common stockholders?

66. Disadvantages of using current liabilities as opposed to long-term debt include:

67. 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.

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

70. Forward rates are quoted:

71. 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?

72. Tri State Pickle Company preferred stock pays a perpetual annual dividend of 2 1/2% of its par value. Par value of TSP preferred stock is $100 per share. If investors’ required rate of return on this stock is 15%, what is the value of per share?

73. PepsiCo calculates unlevered betas for each peer group in order to:

74. 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.

75. 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?

76. 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.

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