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UOP BUS 475 Final Exam Set 1




Question;BUS 475 Final Exam Study Guide 2012 ? Set 11) Although the U.S. has had a longstanding agreement with;after the passage of NAFTA, _____ became the United States' second;largest trading partner.A. Mexico, VenezuelaB. Canada, VenezuelaC. Great Britain, ParaguayD. Mexico, CanadaE. Canada, Mexico2) "Generally accepted" in the phrase generally;accepted accounting principles means that the principles __________.A. have been approved for use by the managements of business;firmsB. have been approved by the Internal Revenue Service C.;have substantial authoritative support D. are proven theories of accounting30) Building a dynamic organization is another way of;describing which function of management?A. Staffing B. OrganizingC. Leading D. ControllingE. Planning4) Sam's Used Cars uses the specific identification method;of costing inventory. During March, Sam purchased three cars for $6,000;$7,500, and $9,750, respectively. During March, two cars are sold for $9,000;each. Sam determines that at March 31, the $9,750 car is still on hand. What is;Sam?s gross profit for March?A. $8,250B. $750 C. $4,500D. $5,2505) 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?A. 2,133 unitsB. 6,200 unitsC. $25,600 D. 4,600 units6) 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. The western division?s vice president?s salaryB. Cost of landscaping the corporate office C. General;corporate liability insurance D. Factory janitor7) What is the preparation of reports for each level of;responsibility in the company?s organization chart called?A. Master budgeting analysisB. Exception reporting C. Responsibility reportingD. Static reporting8) 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?A. $6,000 B. $12,000C. $28,000D. $18,0009) The cost of an asset and its fair market value are;A. never the same B. irrelevant when the asset is used by;the business in its operationsC. the same on the date of acquisition D. the same when the;asset is sold10) Which one of the following is a product cost?A. Indirect labor B. Sales person?s salariesC. Advertising costs D. Office salaries11) What exists when budgeted costs exceed actual results?A. A budgeting error B. An unfavorable differenceC. An excess profit D. A favorable difference12) The income statement and balance sheet columns of Pine;Company's worksheet reflects the following totals:Income Statement Balance;SheetDr. Cr. Dr. Cr.Totals $58,000 $48,000 $34,000 $44,000Closing entries are necessary for __________.A. permanent accounts only B. both permanent and temporary;accountsC. permanent or real accounts only D. temporary accounts;only13) Managerial accounting __________.A. is concerned with costing products B. pertains to the;entity as a whole and is highly aggregatedC. places emphasis on special-purpose information D. is;governed by generally accepted accounting principles14) 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?A. Beer B. Selling either results in the same additional;income for the companyC. It should sell an equal quantity of both D. Wine15) Lekeisha's income exceeds her expenditures. Lekeisha is;a __________.A. saver who demands money from the financial system B.;borrower who demands money from the financial systemC. borrower who supplies money to the financial system D.;saver who supplies money to the financial system16) 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 __________.A. the value to Maurice of the option he would have chosen;had Option B not been availableB. $100 C. $300 D. the value to Maurice of Options A, C and;D combined17) A production possibilities frontier will be a straight;line if __________.A. the economy is producing efficiently B. the economy is;engaged in trade with at least one other economy C. increasing the production;of one good by x units entails no opportunity cost in terms of the other goodD. increasing the production of one good by x units entails;a constant opportunity cost in terms of the other good18) In economics, the cost of something is __________.A. what you give up to get it B. often impossible to quantify;even in principle C. the dollar amount of obtaining it D. always measured in;units of time given up to get it19) A tax on an imported good is called a __________.A. supply taxB. trade tax C. quota D. tariff20) Which of the following statements about GDP is correct?A. GDP is to a nation?s economy as household income is to a;household. B. GDP increases if the total population increases. C. GDP measures;two things at once: the total income of everyone in the economy and the;unemployment rate.D. Money continuously flows from households to government;and then back to households, and GDP measures this flow of money.21) In computing GDP, market prices are used to value final;goods and services because __________.A. if market prices are out of line with how people value;goods, the government sets price ceilings and price floorsB. Market prices are not used in computing GDP C. market;prices reflect the values of goods and services D. market prices do not change;much over time, so it is easy to make comparisons between years22) Which of the following statements about GDP is correct?A. Nominal GDP values production at market prices, whereas;real GDP values production at the cost of the resources used in the production;process.B. Nominal GDP consistently underestimates the value of;production, whereas real GDP consistently overestimates the value of;production.C. Nominal GDP values production at current prices, whereas;real GDP values production at constant prices.D. Nominal GDP values production at constant prices, whereas;real GDP values production at current prices.23) Which of the following is not correct?A. The U.S. debt per-person is large compared with average;lifetime income.B. In 2005, the U.S. government had a deficit. C. A;potential cost of deficits is that they reduce national saving, thereby;reducing growth of the capital stock and output growth.D. Deficits give people the opportunity to consume at the;expense of their children, but they do not require them to do so.24) The part of of payments account that lists all long-term;flows of payments is called the:A. balance of trade. B. financial and capital account.C. government financial account.D. current account.25) 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;A. the sacrifice ratio dilemma B. the monetary policy;reaction lagC. the time inconsistency of policyD. inflation targeting26) In general, the longest lag for __________.A. fiscal policy is the time it takes to change policy;while for monetary policy the longest lag is the time it takes for policy to;affect aggregate demandB. both fiscal and monetary policy is the time it takes for;policy to affect aggregate demandC. monetary policy is the time it takes to change policy;while for fiscal policy the longest lag is the time it takes for policy to;affect aggregate demandD. both fiscal and monetary policy is the time it takes to;change policy27) 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?A. Only item (2) is included in GDP and it is included in the;investment component.B. Item (1) is included in the consumption component, while;item (2) is included in the investment component.C. Item (1) is included in the investment component, while;item (2) is included in the consumption component.D. Both item (1) and item (2) are included in the;consumption component of GDP.28) Managers will utilize __________ skills with increasing;frequency as they rise within an organization.A. Professional B. Interpersonal and communicationC. Technical D. Professional E. Conceptual and decision29) Which of these represent skills that managers need?A. Interpersonal, quantitative, and professional B.;Technical, interpersonal & communication and conceptual & decision;makingC. Professional, technical and interpersonal;communication D. Conceptual & decision making, professional and technical;E. Interpersonal & communication, conceptual & decision making and;professional30) The standards and rules that are recognized as a general;guide for financial reporting are called __________.A. standards of financial reporting B. operating guidelines;C. generally accepted accounting principles D. generally accepted accounting;standards31) 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. Anyone can start a business B. All entrepreneurs need;venture capital in order to get started C. Successful entrepreneurs take very;careful, calculated risks D. Entrepreneurs are their own bosses and completely;independentE. Money should not be considered a start-up ingredient32) 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. Managerial ethicsC. Recruiting D. Employment E. Selection33) A manager's ability to stimulate people to be high;performers is referred to as:A. Planning B. SupervisingC. ControllingD. Organizing E. Leading34) 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. Total quality management B. Customer-based integration C.;Computer-integrated manufacturing (CIM)D. Just-in-time control (JIT)E. ISO 900035) Japanese manufacturers' kaizen (continuous improvement);programs enable them to maintain:A. A strategic alliance B. A homogeneous workforce C.;Positive working relationships with all employeesD. A Learning advantage over their competition E. Larger;faster facilities36) Listening to employee suggestions, gaining support for;organizational objectives and fostering an atmosphere of teamwork are all;considered:A. Technical skills B. Conceptual C. Professional skills D.;Interpersonal/communication skillsE. Diagnostic skills37) The basic components of an effective sexual harassment;policy include the following EXCEPT:A. To develop an organization wide policy on sexual;harassment B. To establish a means for ongoing training C. To act immediately;when employees complain of sexual harassmentD. To establish a performance appraisal system E. To;establish a formal complaint procedure38) Teams that operate separately from the regular work;structure and exist temporarily are known as:A. Management teams B. Transnational teamsC. Self-managed teamsD. Parallel teams E. Self-designing teams39) 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:A. Goal CoordinationB. Controlling C. Organizing D. Staffing E. Planning40) As related to managing of human resources, diversity;refers to:A. Differences in demographics (such as age, race, gender;disability status, lifestyle, veteran status, educational level, etc.)B. Differences in pay methods (such as hourly, salaried;overtime, hazard-pay, commissioned, etc.)C. Differences in employee benefit plans (such as pensions;insurance, vacations, memberships, etc.)D. Differences in retention strategies (such as training;hiring, incentives, etc) E. Differences in recruiting methods (such as;newspapers, schools, flyers, magazines, agencies, etc.)41) __________ is the process of working with people and;resources to accomplish organizational goals.A. Controlling B. Decision makingC. Planning D. Supervising E. Management42) 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 B. 3.5C. 2.5D. 243) Use the following table to answer question:P(S | W) is approximately _____.A..40B..30C..12D..5844) Use the following table to answer question:P(M A) is approximately _____.A..50 B..625C..125D..2545) 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 equal to.05. B. The p-value is greater;than.05. C. The p-value cannot be determined without specifying. D. The;p-value is less than.05.46) 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 withY = number of robberies in each city (thousands of;robberies) andX = size of police force in each city (thousands of police)?A. High R2 (due to city size). B. Positive slope (due to;city size).C. No correlation. D. Autocorrelation.47) 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, which measure of central tendency is least;representative of the ?typical? student?A. MidrangeB. Mean C. Mode D. Median48) Likely reasons for inaccurate control limits would;include which of the following?A. Process variation was not zero, as expected. B. The;engineering parameter for variance is unknown.C. There was insufficient preliminary sampling. D. The;engineers were underpaid for their work.49) You are faced with a linear programming objective function;of:Max P = $20X + $30Yand 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?A. The most you would want to pay for an additional unit of;A would be $7.50.B. You can change quantities of X and Y at no cost for;Constraint B. C. For every additional unit of the objective function you;create, the price of A rises by $7.50.D. For every additional unit of the objective function you;create, you lose 0 units of B.50) 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?A. The expected duration of this project is 25 + 15 + 20 =;60 days.B. A?D?C is the critical path. C. The expected duration of;this project is 25 days. D. A?B?C has the most slack.51) Which one of the following statements concerning;production and staffing plans is best?A. A master production schedule is a projected statement of;income, costs, and profits.B. Aggregation can be performed along three dimensions;product families, labor, and time.C. Production plans are based primarily on information from;the master production plan.D. A staffing plan is the intermediate link between the;business plan and the master production schedule.52) While glancing over the sensitivity report, you note;that the stitching labor has a shadow price of $10 and a lower limit of 24;hours with an upper limit of 36 hours. If your original right hand value for;stitching labor was 30 hours, you know that:A. you would lose $80 if one of your workers missed an;entire 8 hour shift. B. the next worker that offers to work an extra 8 hours;should receive at least $80.C. you would be willing pay up to $60 for someone to work;another 6 hours.D. you can send someone home 6 hours early and still pay;them the $60 they would have earned while on the clock.53) The costs of delivering products in the _____ channel;are much higher than delivering products in the _____ channel.A. physical, digital B. e-commerce, digitalC. physical, financial D. digital, e-commerceE. digital, physical54) When customers access a Web site and make purchases;they generate __________.A. Tracking cookies B. Web data C. Information D.;Clickstream dataE. Hyperlink data55) _____ is the integration of economic, social, cultural;and ecological facets of life, enabled by information.A. regionalization B. globalization C. nationalization D.;business environment56) Various organizations that promote fair and responsible use;of information systems often develop __________.A. a code of ethics B. responsibility chartersC. a strategic plan D. a mission statement E. a goals;outline57) What is _____ is not necessarily _____.A. Illegal, unethical B. Unethical, legal C. Ethical;illegal D. Unethical, illegalE. Ethical, legal58) _____ provides users with a view of what is happening;where _____ addresses why it is happening.A. Multidimensional data analysis, structured query languageB. Multidimensional data analysis, neural networks C. Data;mining, multidimensional data analysis D. Data mining, expert system E.;Multidimensional data analysis, data mining59) Computer support is greatest for which of the following;problems?A. Semistructured and strategic planning B. Semistructured;and management controlC. Unstructured and operational control D. Structured and;operational control E. Structured and management control60) The management cockpit best exemplifies which type of;system?A. Decision support system B. Functional area information;systemC. Expert system D. Digital dashboard E. Group decision;support system61) _____ is the efficient and effective execution of;specific tasks.A. Operational controlB. Expertise C. Management controlD. Strategic planning E. Wisdom62) Geocoding is __________.A. accessing geographical information B. integrating maps;with spatially oriented databases and other databasesC. integrating organizational transactions with spatially;oriented databases D. programming spatially oriented databases E. encrypting;spatial information63) At 8% compounded annually, how long will it take $750 to;double?A. 48 monthsB. 6.5 years C. 9 years D. 12 years64) Which of the following represents an attempt to measure;the earnings of the firm?s operations over a given time period?A. Cash flow statementB. Balance sheet C. Income statement D. Quarterly statement65) 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.)A. $570 B. $490 C. $900 D. -$15066) Disadvantages of using current liabilities as opposed to;long-term debt include:A. higher cash flow exposure B. greater risk of illiquidity;and uncertainty of interest costsC. decreased risk of liquidity D. certainty of interest;costs E. uncertainty of future liabilities67) 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?A. 12.5% B. 36.13%C. 8.0% D. 13.6%68) Which of the following is most consistent with the;hedging principle in working capital management?A. Fixed assets should be financed with short-term notes;payable. B. Inventory should be financed with preferred stock. C. Accounts;receivable should be financed with short-term lines of credit.D. Borrow on a floating rate basis to finance investments in;permanent assets.69) An increase in future value can be caused by an increase;in the __________.A. original amount invested B. annual interest rate and;number of compounding periodsC. rate of return D. dividends paid E. starting value70) If the quote for a forward exchange contract is greater;than the computed price, the forward contract is:A. at equilibrium.B. undervalued. C. a good buy. D. overvalued.71) 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?A. $1,568B. $871 C. $1,241D. $46372) Suppose you determine that the NPV of a project is;$1,525,855. What does that mean?A. The project?s IRR would have to be less that the firm?s;discount rate. B. The project would add value to the firm. C. Under all;conditions, the project?s payback would be less than the profitability index.D. In all cases, investing in this project would be better;than investing in a project that has an NPV of $850,000.73) The common stockholders are most concerned with:A. the spread between the return generated on new;INVESTMENTS and the investor?s required rate of return.B. the size of the firm?s beginning earnings per share. C.;the risk of the investment. D. the percentage of profits retained.74) PepsiCo calculates unlevered betas for each peer group;in order to:A. eliminate different FINANCIAL risks.B. eliminate competitive factors. C. eliminate judgment;factors. D. eliminate different business risks.75) Which of the following best represents operating income?A. Income from discontinued operationsB. Earnings before interest and taxes C. Income from capital;gains D. Income after financing activities76) In comparison to the buying of final consumers, the;purchasing of organizational buyers:A. is even less predictable. B. leans basically toward;economy, quality, and dependability.C. is always emotional. D. is strictly economic and not at;all emotional. E. is always based on competitive bids from multiple suppliers.77) The basic objective of the U.S. MARKET-directed economic;system is to:A. achieve an annual growth rate of at least 10 percent. B.;provide each person with an equal share of the economic output.C. make the most efficient use of the country's resources.;D. minimize inflation. E. satisfy consumer needs as they--the consumers--see;them.78) Comparing GDP for foreign countries can help a MARKETING;manager evaluate potential markets if the manager remembers that:A. GDP measures show people's tendency to buy particular;products. B. income tends to be evenly distributed among consumers in most;countries. C. GDP estimates may not be very accurate for very different;cultures and economies.D. Other countries most likely don?t use the US Dollar as;their primary CURRENCY.E. GDP measures show the degree of competition in a market.79) A firm's "marketing mix" decision areas would;NOT include:A. Promotion.B. People. C. Price. D. Place. E. Product.80) __________ is a MARKETING management aid which refers to;how customers think about proposed and/or present brands in a market.A. Brand familiarity B. PositioningC. Market scanning D. Customer relationship management (CRM)E. Market segmentation81) The "four Ps" of a MARKETING mix are:A. Production, Personnel, Price, and Physical DistributionB. Promotion, Production, Price, and People C. Potential;customers, Product, Price, and Personal SellingD. Product, Price, Promotion, and Profit E. Product, Place;Promotion, and Price82) When evaluating macro-MARKETING:A. the evaluation is necessarily subjective. B. the best;approach is to consider the profit generated by individual firms within the;overall system.C. one must determine how efficiently the society's;resources are used. D. one must consider the society?s role in the marketing;system. E. one must consider each individual firm's role in the marketing;system.83) A cluster analysis of the "toothpaste market;would probably show that:A. the broad product-market can be served effectively with;one marketing mix.B. most consumers are mainly concerned about brightness of;teeth. C. factors such as taste, price, and "sex appeal" are not;important. D. most consumers are concerned about cost. E. different market;segments seek different product benefits.84) Clustering techniques applied to segmenting MARKETS;A. usually require computers to group people based on data;from market researchB. remove the need for managerial judgment C. eliminate the;need for marketing managers to specify in advance what dimensions might be;relevant for grouping consumersD. doesn?t apply to demographic data E. is time consuming;and expensive85) The three basic tasks of ALL managers, according to the;text, are:A. planning, staffing, and evaluating. B. marketing;production, and finance. C. execution, feedback, and control. D. planning;implementation, and control.E. hiring, training, and compensating.86) The difference between target marketing and mass marketing;is that target marketing:A. means focusing on a small market. B. focuses on short-run;objectives, while mass marketing focuses on long-run objectives.C. focuses on specific customers, while mass marketing aims;at an entire market.D. aims at increased sales, while mass marketing focuses on;increased profits. E. does not rely on e-commerce but mass marketing does.87) When one considers the strategy decisions organized by;the four Ps, branding is related to packaging as:A. store location is to sales force selection.B. personal selling is to mass selling. C. production is to;MARKETING. D. branding is to pricing. E. pricing is to promotion.88) Which of the following statements is not true under the;Fair Labor Standards Act?A. Children ages 16 and 17 may work unlimited hours in;nonhazardous jobs.B. Persons age 18 or over may work unlimited hours in;nonhazardous jobs.C. Children ages 14 and 15 may work limited hours in;nonhazardous jobs.D. Children under 14 cannot work at all, except on farms. E.;Persons age 18 or over may work unlimited hours in hazardous jobs.89) Probable cause is most directly associated with which;step of the criminal process?A. Plea bargaining B. Arraignment C. Indictment D. Arrest E.;Jury deliberations90) Which of the following statements is generally not true;about state intermediate appellate courts?A. The appellate court allows the parties to make oral;arguments outlining their position.B. The appellate court allows the parties to introduce new evidence;so long as it was not previously introduced at the original trial.C. The appellate court usually allows the parties to file;briefs outlining support for their positions.D. The appellate court reviews the record of the trial;court. E. Appellate court decisions are final and further appeal is not;possible.91) Which of the following terms need not be disclosed under;Truth-in-Lending Act?A. The terms available from competitors.B. The total finance charge. C. The cash price of the;product. D. The annual percentage rate (APR). E. Amount of payments.92) Which of the following activities by an administrative;agency requires public notice and participation?A. Substantive rule making and statements of policy only. B.;Statements of policy only. C. Substantive rule making and interpretive rule;making only. D. Substantive rule making only. E. Substantive rule making;interpretive rule making, and statements of policy.93) Which of the following is not one of the Caux Round;Table Principles for International Business?A. Promotion of Multiculturalism. B. Respect for the;Environment. C. Support for Multilateral TRADE. D. Avoidance of Illicit;Operations. E. Responsibility of Business Beyond Shareholders Toward;Stakeholders.94) The theory of business social responsibility that holds;that a business owes duties solely to produce the highest return for its;shareholders is:A. The corporate citizenship theory.B. The moral minimum theory. C. The social audit theory. D.;The stakeholder interest theory.E. The maximizing profits theory.95) Which social responsibility theory has been advocated by;Novel Prizewinning economist Milton Friedman?A. Corporate citizenship.B. Maximizing profits. C. Corporate social audit.D. Stakeholder interest. E. Moral minimum.96) Which of the following lists, in descending priority, of;sources considered by most courts in settling questions of international law?A. Conventions, treaties, comity, customs B. Treaties;customs, conventions, comity C. Treaties, customs, conventions, comity D.;Conventions, comity, customs, general principles of law E. Treaties, customs;general principles of law, judicial decisions and teachings97) If the value of the collateral is less than the debt;owed to the secured party, then:A. The secured party gets to take some other property as;collateral so his entire debt is secured.B. The secured party is still secured for the entire debt;owed him. C. The secured party is unsecured for the entire debt. D. The secured;party loses the excess of debt over the value of the security. E. The secured;party is unsecured for the excess of debt over the value of the security.98) One study found that manufacturing labor costs about;an hour in China, compared to _____ dollars in the United States.A. $2, about 25 B. Less than $1, about 15 C. Less than $1;about 40 D. Less than $1, about 25E. About $2, about 1599) Which country does the text describe as becoming the;largest producer and consumer of many of the world's goods?A. China B. Japan C. EcuadorD. Mexico E. Canada100) The cost principle requires that when assets are;acquired, they be recorded at __________.;A. list price B. selling price C. exchange price paid D.;appraisal value="msonormal">


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