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BUS_475_Final exam Which one of the following items is not generally used in preparing a statement of cash flows




Question;1);Which one of the following items is not generally used in preparing a statement;of cash flows?;A. Adjusted trial balance;B. Comparative balance sheets;C. Additional information;D. Current income statement;2);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?;A. $150,000;B. $60,000;C. $90,000;D. $75,000;3);Of the following companies, which one would not likely employ the specific;identification method for inventory costing?;A. Music store specializing in organ sales;B. Antique shop;C. Farm implement dealership;D. Hardware store;4);Which one of the following is a product cost?;A. Indirect labor;B. Sales person?s salaries;C. Office salaries;D. Advertising costs;5);The conceptual framework developed by the Financial Accounting Standards Board;A. was approved by a vote of all accountants;B. is viewed as providing a constitution for;setting accounting standards for financial reporting;C. are rules that all accountants must follow;D. is legally binding on all accountants;6);What is the preparation of reports for each level of responsibility in the;company?s organization chart called?;A. Static reporting;B. Exception reporting;C. Responsibility reporting;D. Master budgeting analysis;7);The cost principle requires that when assets are acquired, they be recorded at;A. appraisal value;B. selling price;C. exchange price paid;D. list price;8);If a company reports a net loss, it __________.;A. will not be able to make capital;expenditures;B. will not be able to get a loan;C. may still have a net increase in cash;D. will not be able to pay cash dividends;9);The major reporting standard for management accounts is __________.;A. generally accepted accounting principles;B. relevance to decisions;C. the Standards of Ethical Conduct for;Practitioners of Management Accounting and Financial Management;D. the Sarbanes-Oxley Act of 2002;10);The primary purpose of the statement of cash flows is to __________.;A. facilitate banking relationships;B. provide information about the cash receipts;and cash payments during a period;C. provide information about the investing and;financing activities during a period;D. prove that revenues exceed expenses if there;is a net income;11);Managerial accounting __________.;A. places emphasis on special-purpose;information;B. pertains to the entity as a whole and is;highly aggregated;C. is concerned with costing products;D. is governed by generally accepted accounting;principles;12);A well-designed activity-based costing system starts with __________.;A. analyzing the activities performed to;manufacture a product;B. assigning manufacturing overhead costs for;each activity cost pool to products;C. identifying the activity-cost pools;D. computing the activity-based overhead rate;13);Balance sheet accounts are considered to be __________.;A. nominal accounts;B. capital accounts;C. temporary stockholders? accounts;D. permanent accounts;14);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?;A. Cost of landscaping the corporate office;B. The western division?s vice president?s;salary;C. General corporate liability insurance;D. Factory janitor;15);There are two types of markets in which firms face some competition yet are;still able to have some control over the prices of their products. The names;given to these market structures are __________.;A. perfect competition and monopolistic competition;B. duopoly and imperfect competition;C. duopoly and triopoly;D. monopolistic competition and oligopoly;16);Lekeisha's income exceeds her expenditures. Lekeisha is a __________.;A. borrower who demands money from the;financial system;B. borrower who supplies money to the financial;system;C. saver who supplies money to the financial;system;D. saver who demands money from the financial;system;17);A tax on an imported good is called a __________.;A. supply tax;B. trade tax;C. tariff;D. quota;18);Lucy starts her own psychiatric practice, but her expenditures to open the;practice exceed her income. Lucy is a __________.;A. borrower who demands money from the;financial system;B. borrower who supplies money to the financial;system;C. saver who supplies money to the financial;system;D. saver who demands money from the financial;system;19);One characteristic of an oligopoly market structure is;A. firms in the industry have some degree of;market power.;B. firms in the industry are typically;characterized by very diverse product lines.;C. the actions of one seller have no impact on;the profitability of other sellers.;D. products typically sell at a price that;reflects their marginal cost of production.;20);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 __________.;A. less than quantity supplied;B. greater than quantity supplied;C.;double the quantity supplied;D. equal to quantity supplied;21);When a firm sells a good or a service, the sale contributes to the nation?s;income __________.;A. only if the buyer of the good or service is;a household or another firm;B. only if the buyer of the good or service is;a household;C. We have to know whether the item being sold;is a good or a service in order to answer the question;D. whether the buyer of the good or a service;is a household, another firm, or the government;22);The open-economy macroeconomic model includes __________.;A. only the market for foreign-currency;exchange;B. only;the market for loanable funds;C. neither the market for loanable funds or the;market for foreign-currency exchange;D. both the market for loanable funds and the;market for foreign-currency exchange;23);Most economists use the aggregate demand and aggregate supply model primarily;to analyze __________.;A. the effects of macroeconomic policy on the;prices of individual goods;B. short-run fluctuations in the economy;C. productivity and economic growth;D. the long-run effects of international trade;policies;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;A. supplied for the purpose of buying assets;abroad;B. supplied for the purpose of selling assets;domestically;C. demanded for the purpose of importing;foreign goods and services;D. demanded for the purpose of buying U.S. net;exports of goods and services;25);Which of the following is not correct?;A. A potential cost of deficits is that they;reduce national saving, thereby reducing growth of the capital stock and output;growth.;B. The U.S. debt per-person is large compared;with average lifetime income.;C. Deficits give people the opportunity to;consume at the expense of their children, but they do not require them to do;so.;D. In 2005, the U.S. government had a deficit.;26);The Federal Reserve will tend to tighten monetary policy when __________.;A. interest rates are rising too rapidly;B. the growth rate of real GDP is quite;sluggish;C. it thinks the unemployment rate is too high;D. it thinks inflation is too high today, or;will become too high in the future;27);Which of the following statements about GDP is correct?;A. Nominal GDP values production at current;prices, whereas real GDP values production at constant prices.;B. Nominal GDP values production at market;prices, whereas real GDP values production at the cost of the resources used in;the production process.;C. Nominal GDP values production at constant;prices, whereas real GDP values production at current prices.;D. Nominal GDP consistently underestimates the;value of production, whereas real GDP consistently overestimates the value of;production.;28);The most dominant areas in the global economy include;A. North America, Western Europe and Asia;B. North America, Asia and Africa;C. North America, Mexico and Asia;D. Western Europe, Asia and Africa;E. North America, South America and Western;Europe;29);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;A. Diversity;B. Recruiting;C.;Employment;D. Managerial ethics;E. Selection;30);A leader is;A. Someone with authority over others;B. Someone who influences others to attain;goals;C. The top level manager in a firm or business;D. Someone well-respected by others;E. A strategic level manager;31);Teams that operate separately from the regular work structure and exist;temporarily are known as;A. Management teams;B. Self-managed teams;C. Parallel teams;D. Transnational teams;E. Self-designing teams;32);is the process of working with people and resources to accomplish;organizational goals.;A. Supervising;B. Decision making;C. Management;D. Controlling;E. Planning;33);An organization that is managed aggressively and has growth and high profits as;primary objectives may be considered a(n);A. Online Business;B. Entrepreneurship venture;C. Large corporation;D. Small business;E. Multinational corporation;34);A manager's ability to stimulate people to be high performers is referred to;as;A. Supervising;B. Controlling;C. Organizing;D. Leading;E. Planning;35);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;A.;Customer-based integration;B. Computer-integrated manufacturing (CIM);C. Just-in-time control (JIT);D. ISO 9000;E. Total quality management;36);Having individuals actually do the job they are applying for as a test to see;if they can do it is __________.;A. a formal means of screening candidates;B. an approach with high reliability;C. an approach with high face validity;D. an informal means of screening candidates;E. an approach with low reliability;37);The basic components of an effective sexual harassment policy include the;following EXCEPT;A. To act immediately when employees complain;of sexual harassment;B. To develop an organization wide policy on;sexual harassment;C. To establish a means for ongoing training;D. To establish a performance appraisal system;E. To establish a formal complaint procedure;38);The best way for an employer to find out if a potential employee can do a job;is by __________.;A. administering an IQ test;B. using the interview process;C. using a performance simulation test;D. using a written test;E. having them spend a day in the office;39);As related to managing of human resources, diversity refers to;A. Differences in pay methods (such as hourly;salaried, overtime, hazard-pay, commissioned, etc.);B. Differences in employee benefit plans (such;as pensions, insurance, vacations, memberships, etc.);C. Differences in retention strategies (such as;training, hiring, incentives, etc);D. Differences in recruiting methods (such as;newspapers, schools, flyers, magazines, agencies, etc.);E. Differences in demographics (such as age;race, gender, disability status, lifestyle, veteran status, educational level;etc.);40);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;A. Mechanistic;B. Six Sigma Quality;C. Organic;D. Total quality integration;E. ISO 9000;41);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?;A. Successful entrepreneurs take very careful;calculated risks;B. Anyone can start a business;C. All entrepreneurs need venture capital in;order to get started;D. Entrepreneurs are their own bosses and;completely independent;E. Money should not be considered a start-up;ingredient;42);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?;A. 1,692;B. 609;C. 2,401;D. 1,604;43);In a right-tail test, a statistician came up with a z test statistic of 1.469.;What is the p-value?;A..0708;B..0301;C..4292;D..0874;44);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 _____.;A. 3.5;B. 3;C. 2.5;D. 2;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 _____.;A. 3.75;B. 4.55;C. 4.75;D. 3.03;46);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.;Which;outcomes would be likely in a bivariate regression on 45 randomly chosen U.S.;cities in 2005 with;Y;= number of robberies in each city (thousands of robberies) and;X;= size of police force in each city (thousands of police)?;A. Autocorrelation.;B. High R2 (due to city size).;C. No correlation.;D. Positive slope (due to city size).;47);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?;A. The;p-value is less than.05.;B.;The p-value is equal to.05.;C. The p-value cannot be determined without;specifying.;D. The p-value is greater than.05.;48);In an activity-on-node [AON] network, the nodes represent ____________, whereas;the arcs represent ____________.;A. precedence relationships, time;B. events, activities;C. activities, time;D. activities, precedence relationships;49);Theoretically, service capacity must exceed demand, lest queues become;infinitely long. If capacity does not exceed demand, what is likely to happen?;A. All of these;B. Servers will eliminate time-consuming;portions of their jobs, thereby increasing capacity.;C. Customers will renege or balk, thereby;reducing demand.;D. Servers will decrease time spent per customer;thereby increasing capacity.;50);Queuing models use an A/B/C notation. What do these variables represent?;A. minimum time between arrivals/minimum;allowable service time/minimum number of parallel servers;B. maximum time between arrivals/maximum;allowable service time/maximum number of parallel servers;C. distribution of time between;arrivals/distribution of service times/number of parallel servers;D. average time between arrivals/average;service time/number of parallel servers


Paper#40580 | Written in 18-Jul-2015

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