Question1. The income statement and balance sheet columns of Pine Com

1. The income statement and balance sheet columns of Pine Company’s worksheet reflects the following totals:

2. Which one of the following is a product cost?

3. 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?

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

5. 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?

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

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

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

9. What is the preparation of reports for each level of responsibility in the company’s organization chart called?

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

11. 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 __________.

12. Hess, Inc. sells a single product with a contribution margin of $12 per unit and fixed costs of $74,400 and sales for the current year of $100,000. How much is Hess’s break even point?

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

14. What exists when budgeted costs exceed actual results?

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

16. One characteristic of an oligopoly market structure is:

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

18. In computing GDP, market prices are used to value final goods and services because __________.

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

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

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

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

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

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

25. The balance of payment account is made up of:

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

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

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

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

32. Which of the following has proven to be a particularly good predictor for jobs that require cognitive complexity?

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

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

36. 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?

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

38. Japanese manufacturers’ kaizen (continuous improvement) programs enable them to maintain:

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

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 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:

42. 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 __________.

43. 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?

44. Independent events A and B would be consistent with which of the following statements:

45. 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 _____.

46. Thirty patients are selected from a filing cabinet containing 8

Our website has a team of professional writers who can help you write any of your homework. They will write your papers from scratch. We also have a team of editors just to make sure all papers are of HIGH QUALITY & PLAGIARISM FREE. To make an Order you only need to click Ask A Question and we will direct you to our Order Page at WriteDemy. Then fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.