BUS 475 Final Exam 7 A+++

 

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

A. computing the activity-based overhead rate

B. assigning manufacturing overhead costs for each activity cost pool to products

C. analyzing the activities performed to manufacture a product

D. identifying the activity-cost pools

 

2) Managerial accounting __________.

A. is governed by generally accepted accounting principles

B. pertains to the entity as a whole and is highly aggregated

C. places emphasis on special-purpose information

D. is concerned with costing products

 

3) What effect do current technology changes have on managerial accounting?

A. Increase in product costs

B. Reduction of emphasis on the value chain

C. Reduction of reporting costs of managerial accounting information

D. Creation of the middleman

 

4) 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 __________.

A. $10,000 income

B. not determinable

C. $10,000 loss

D. $48,000 income

 

 

5) “Generally accepted” in the phrase generally accepted accounting principles means that the principles __________.

A. have substantial authoritative support

B. have been approved for use by the managements of business firms

C. have been approved by the Internal Revenue Service

D. are proven theories of accounting

 

6) If a company reports a net loss, it __________.

A. will not be able to pay cash dividends

B. will not be able to make capital expenditures

C. will not be able to get a loan

D. may still have a net increase in cash

 

7) 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. Wine

B. It should sell an equal quantity of both

C. Selling either results in the same additional income for the company

D. Beer

 

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

A. compute the activity-based overhead rate per cost driver

B. identify the cost driver that has a strong correlation to the activity cost pool

C. identify and classify the major activities involved in the manufacture of specific products

D. assign manufacturing overhead costs for each activity cost pool to products

 

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

A. Comparative balance sheets

B. Adjusted trial balance

C. Current income statement

D. Additional information

 

10) What exists when budgeted costs exceed actual results?

A. A favorable difference

B. A budgeting error

C. An unfavorable difference

D. An excess profit

 

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

A. Employee training, auditing, bookkeeping

B. Bookkeeping, mergers, budgets

C. Auditing, taxation, management consulting

D. Cost accounting, production scheduling, recruiting

 

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

A. the same when the asset is sold

B. never the same

C. irrelevant when the asset is used by the business in its operations

D. the same on the date of acquisition

 

13) 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. $4,500

B. $5,250

C. $750

D. $8,250

 

14) 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 _____.

A. $75

B. $65

C. $60

D. $50

 

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

A. saver who supplies money to the financial system

B. saver who demands money from the financial system

C. borrower who demands money from the financial system

D. borrower who supplies money to the financial system

 

16) Which of the following statements about GDP is correct?

A. Money continuously flows from households to government and then back to households, and GDP measures this flow of money.

B. GDP measures two things at once: the total income of everyone in the economy and the unemployment rate.

C. GDP is to a nation’s economy as household income is to a household.

D. GDP increases if the total population increases.

 

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

A. the recognition that government intervention in markets sometimes enhances the economic welfare of the society

B. the recognition that not all markets are competitive

C. the principle of absolute advantage

D. the principle of comparative advantage

 

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

A. market prices do not change much over time, so it is easy to make comparisons between years

B. market prices reflect the values of goods and services

C. if market prices are out of line with how people value goods, the government sets price ceilings and price floors

D. Market prices are not used in computing GDP

 

19) 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 Options A, C and D combined

B. $100

C. $300

D. the value to Maurice of the option he would have chosen had Option B not been available

 

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

A. form various degrees of cartels

B. compete rather than cooperate with each other

C. cooperate rather than compete with each other

D. collude with each other

 

21) Resources are __________.

A. plentiful for households but scarce for economies

B. scarce for households and scarce for economies

C. plentiful for households and plentiful for economies

D. scarce for households but plentiful for economies

 

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

A. free trade policies of foreign governments.

B. unproductive U.S. workers.

C. unfair foreign competition.

D. U.S. export subsidies.

 

23) The balance of payment account is made up of:

A. an import account and an export account.

B. an investment account and a consumption account.

C. a monetary account and a fiscal account.

D. a current account and a financial and capital account.

 

24) Real GDP __________.

A. evaluates current production at the prices that prevailed in some specific year in the past.

B. is not a valid measure of the economy’s performance, since prices change from year to year.

C. is a measure of the value of goods only; it excludes the value of services.

D. evaluates current production at current prices.

 

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

A. unemployment and output

B. wages and employment

C. real GDP and the price level

D. the price and quantity of a particular good

 

26) 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 monetary policy reaction lag

B. the sacrifice ratio dilemma

C. the time inconsistency of policy

D. inflation targeting

 

27) Over the past two decades, the United States has __________.

A. had trade deficits in about as many years as it has trade surpluses.

B. persistently had a trade surplus.

C. persistently had a trade deficit.

D. generally had, or been very near to a trade balance.

 

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

A. Producing an imitation of the new technology that utilizes lower-quality and lower-cost materials

B. Technology followers are not successful at low-cost strategies

C. Mass-producing products that have an established market niche

D. Making subtle changes to the product, thereby avoiding patent restrictions

E. Learning from the leader thereby avoiding the costs and risks of technology leadership

 

29) A leader is:

A. The top level manager in a firm or business

B. Someone well-respected by others

C. Someone who influences others to attain goals

D. Someone with authority over others

E. A strategic level manager

 

30) The pursuit of lucrative opportunities by enterprising individuals is called:

A. Independence

B. Social experimentation

C. Entrepreneurship

D. Intrapreneurship

E. Business incubating

 

31) 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. Just-in-time control (JIT)

B. Customer-based integration

C. Computer-integrated manufacturing (CIM)

D. Total quality management

E. ISO 9000

 

32) A manager’s ability to stimulate people to be high performers is referred to as:

A. Organizing

B. Planning

C. Leading

D. Controlling

E. Supervising

 

33) 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:

A. Glass ceiling

B. Black box theory

C. Job enrichment theory

D. Job enlargement concept

E. Glass floor

 

34) 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. Planning

B. Organizing

C. Goal Coordination

D. Controlling

E. Staffing

 

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

A. Knowledge management

B. Innovation

C. Competitiveness

D. Effectiveness

E. Collaboration

 

36) Which of these represent skills that managers need?

A. Technical, interpersonal & communication and conceptual & decision making

B. Professional, technical and interpersonal & communication

C. Conceptual & decision making, professional and technical

D. Interpersonal, quantitative, and professional

E. Interpersonal & communication, conceptual & decision making and professional

 

37) Teams that work on long-term projects but disband once the work is completed are known as:

A. Management teams

B. Traditional work groups

C. Project and development teams

D. Transnational teams

E. Parallel teams

 

38) Building a dynamic organization is another way of describing which function of management?

A. Organizing

B. Leading

C. Controlling

D. Staffing

E. Planning

 

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

A. High-price strategy

B. Low-cost strategy

C. Diversification strategy

D. Differentiation strategy

E. High-cost strategy

 

40) The most dominant areas in the global economy include: 

A. North America, Mexico and Asia

B. North America, South America and Western Europe

C. North America, Asia and Africa

D. Western Europe, Asia and Africa

E. North America, Western Europe and Asia

 

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

A. Interpersonal/communication skills

B. Diagnostic skills

C. Professional skills

D. Conceptual

E. Technical skills

 

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 _____.

A. 3.5

B. 3

C. 2

D. 2.5

 

43) A poll showed that 48 out of 120 randomly chosen graduates of California medical schools last year intended to specialize in family practice. What is the width of a 90% confidence interval for the proportion that plan to specialize in family practice?

A. ± .00329

B. ± .07357

C. ± .04472

D. ± .08765

 

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. 
Which outcomes would be likely in a bivariate regression on 45 randomly chosen U.S. cities in 2005 with
of robberies in each city (thousands of robberies) and
of police force in each city (thousands of police)?

A. Positive slope (due to city size).

B. High R2 (due to city size).

C. Autocorrelation.

D. No correlation.

 

45) In a random sample of 810 women employees, it is found that 81 would prefer working for a female boss. The width of the 95% confidence interval for the proportion of women who prefer a female boss is _____.

A. ± .0196

B. ± .0105

C. ± .0288

D. ± .0207

 

46) Independent events A and B would be consistent with which of the following statements:

A. P (A) = .3, P (B) = .5, P (A B) = .4

B. P (A) = .4, P (B) = .3, P (A B) = .5

C. P (A) = .5, P (B) = .4, P (A B) = .3

D. P (A) = .4, P (B) = .5, P (A B) = .2

 

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, the standard deviation is approximately _____.

A. 3.03

B. 4.55

C. 4.75

D. 3.75

 

48) In lean systems, if a defective product is found, which of the following is generally NOT done?

A. The defective unit is passed on to the next workstation.

B. The defective unit is returned to the worker responsible for creating the defect. 

C. The production line is made aware of the problem without stopping the line. 

D. The production line is stopped.

 

49) In a network diagram, an activity:

A. is the smallest unit of work effort consuming both time and resources that a project manager can schedule and control.

B. must always have a single, precise estimate for the time duration.

C. should always be something the company has had experience with.

D. is the largest unit of work effort consuming both time and resources that a project manager can schedule and control.

 

50) Which is not a tool of statistical quality control?

A. Pareto chart

B. Deming chart

C. Attribute control chart

D. Fishbone diagram

 

51) A computer analysis reveals that the best-fitting trend model is Yt = 4.12 e 0.987 t. The trend was fitted using year-end common stock prices for Melodic Kortholt Outlet for the last six years. The R2 is 0.8571. 

If we fit a linear trend to data that are growing exponentially __________.

A. at the end of year 3 the stock price would be nearly $80

B. the absolute annual growth (in dollars per share) is increasing

C. few investments could match the astounding growth rate

D. the stock’s true intrinsic value is $4.12

 

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

A. a production bottleneck.

B. a way to create uniform workstation loads.

C. a poka-yoke device.

D. a one-person production line.

 

53) Zappos built the majority of its information systems using which of the following?

A. Proprietary software

B. Free software

C. Consultants

D. Open source software

E. Vendor software

 

54) Search engines and metasearch engines are examples of which network application?

A. Communications

B. Web services

C. Local Area Network

D. Collaboration

E. Discovery

 

55) In the _____ phase of the decision making process, managers test potential solutions “on paper.”

A. choice

B. consideration

C. implementation

D. intelligence

E. design

 

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

A. digital, e-commerce

B. physical, digital

C. e-commerce, digital

D. physical, financial

E. digital, physical

 

57) _____ is the integration of economic, social, cultural, and ecological facets of life, enabled by information.

A. nationalization

B. business environment

C. regionalization

D. globalization

 

58) Which of the following are not provided by digital dashboards?

A. Transaction processing

B. Exception reporting

C. Drill down

D. Key performance indicators

E. Status access

 

59) A company wants to use data from past promotional mailings to identify people who would likely respond favorably to future mailings. This company would most likely use _____.

A. multidimensional data analysis

B. data mining

C. structured query language

D. expert systems

E. neural networks

 

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

A. Data mining

B. Expert systems

C. Neural networks

D. Multidimensional data analysis

E. Structured query language

 

61) Computer support is greatest for which of the following problems?

A. Unstructured and operational control

B. Structured and management control

C. Semistructured and strategic planning

D. Semistructured and management control

E. Structured and operational control

 

62) International Game Technology’s new ERP system produced all of the following benefits except:

A. Company was able to maintain its original business processes

B. Operations employees were able to access manufacturing process details at their workstations

C. Integrated the company’s business functions

D. The company gained flexibility in manufacturing products

E. ERP system connected the company’s global operations

 

63) Disadvantages of using current liabilities as opposed to long-term debt include:

A. uncertainty of future liabilities

B. greater risk of illiquidity, and uncertainty of interest costs

C. decreased risk of liquidity

D. higher cash flow exposure

E. certainty of interest costs

 

64) Suppose you determine that the NPV of a project is $1,525,855. What does that mean?

A. The project would add value to the firm.

B. In all cases, investing in this project would be better than investing in a project that has an NPV of $850,000.

C. Under all conditions, the project’s payback would be less than the profitability index.

D. The project’s IRR would have to be less that the firm’s discount rate.

 

65) An increase in future value can be caused by an increase in the __________.

A. starting value

B. annual interest rate and number of compounding periods

C. rate of return

D. original amount invested

E. dividends paid

 

66) 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.

A. 6.0%

B. 5.1%

C. 8.5%

D. 9.2%

 

67) 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.

A. more, less

B. more, more

C. less, more

D. less, less

 

68) At 8% compounded annually, how long will it take $750 to double?

A. 48 months

B. 6.5 years

C. 9 years

D. 12 years

 

69) 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. 8.0%

C. 13.6%

D. 36.13%

 

70) Exchange rate risk:

A. applies only to certain types of domestic businesses.

B. has been phased out due to recent international legislation.

C. doesn’t affect trades made in US Dollars.

D. arises from the fact that the spot exchange rate on a future date is a random variable.

 

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

A. spontaneous

B. current

C. fixed

D. permanent

 

72) PepsiCo calculates unlevered betas for each peer group in order to:

A. eliminate competitive factors.

B. eliminate judgment factors.

C. eliminate different financial risks.

D. eliminate different business risks.

 

73) If the quote for a forward exchange contract is greater than the computed price, the forward contract is:

A. undervalued.

B. a good buy.

C. at equilibrium.

D. overvalued.

 

74) Bondholders have a priority claim on assets ahead of:

A. shareholders.

B. investors

C. creditors.

D. common and preferred stockholders.

 

75) The common stockholders are most concerned with:

A. the size of the firm’s beginning earnings per share.

B. the risk of the investment.

C. the spread between the return generated on new investments and the investor’s required rate of return.

D. the percentage of profits retained.

 

76) Regarding organizational buying, the people who have the power to select or approve the supplier–especially for larger purchases–are called:

A. deciders.

B. gatekeepers.

C. influencers.

D. buyers.

E. users.

 

77) “Marketing strategy planning” means:

A. finding attractive opportunities and selecting a target market.

B. selecting an attractive marketing mix.

C. finding attractive opportunities and developing profitable marketing strategies.

D. selecting an attractive target market.

E. selecting a target market and developing a marketing strategy.

 

78) A cluster analysis of the “toothpaste market” would probably show that:

A. most consumers are mainly concerned about brightness of teeth.

B. different market segments seek different product benefits.

C. the broad product-market can be served effectively with one marketing mix.

D. factors such as taste, price, and “sex appeal” are not important.

E. most consumers are concerned about cost.

 

79) When doing “positioning,” a marketing manager should:

A. focus on specific product features of all generic competitors.

B. plan physical product changes rather than image changes.

C. avoid targeting strategies.

D. rely on how customers think about proposed and/or existing brands in a market.

E. exclusively use focus groups.

 

80) Economists’ economic-buyer theory assumes that __________.

A. buyers logically compare choices in order to maximize their satisfaction

B. consumers always make rational decisions

C. demographic data are very useful for predicting consumer behavior

D. consumers should purchase only low-priced products

E. consumers only want the cheapest price

 

81) The managerial process of developing and maintaining a match between the resources of an organization and its market opportunities is called:

A. marketing programming.

B. strategic (management) planning.

C. management by objective.

D. marketing strategy planning.

E. market planning.

 

82) When evaluating macro-marketing:

A. the best approach is to consider the profit generated by individual firms within the overall system.

B. one must consider the society’s role in the marketing system.

C. the evaluation is necessarily subjective.

D. one must determine how efficiently the society’s resources are used.

E. one must consider each individual firm’s role in the marketing system.

 

83) “Positioning”:

A. helps strategy planners see how customers view competitors’ offerings.

B. eliminates the need for judgment in strategy planning.

C. applies to new products–but not existing products.

D. is concerned with obtaining the best shelf space in retail outlets.

E. is useful for combining but not for segmenting.

 

84) Coca-Cola is taking advantage of the new willingness of Chinese leaders to engage in international trade by marketing its soft drinks in China. What type of opportunity is Coke pursuing?

A. diversification

B. test marketing

C. market development

D. product development

E. market penetration

 

85) In comparison to the buying of final consumers, the purchasing of organizational buyers:

A. is always based on competitive bids from multiple suppliers.

B. is always emotional.

C. is strictly economic and not at all emotional.

D. leans basically toward economy, quality, and dependability.

E. is even less predictable.

 

86) The basic objective of the U.S. market-directed economic system is to:

A. satisfy consumer needs as they–the consumers–see them.

B. minimize inflation.

C. achieve an annual growth rate of at least 10 percent.

D. provide each person with an equal share of the economic output.

E. make the most efficient use of the country’s resources.

 

87) The clustering techniques that can be used in segmenting:

A. group people together into heterogeneous product-market segments.

B. eliminate the need for management intuition and judgment.

C. group people together based on age.

D. try to find similar patterns within sets of data.

E. looks for differences between groups of people.

 

88) Which of the following terms need not be disclosed under Truth-in-Lending Act?

A. The cash price of the product.

B. The annual percentage rate (APR).

C. The total finance charge.

D. The terms available from competitors.

E. Amount of payments.

 

89) The tort of intentional interference with contractual relations requires the following except:

A. Third-party knowledge of this contract.

B. A valid, enforceable contract between the contracting parties.

C. A new contract involving the third party who induced the breach.

D. Third-party inducement to breach the contract.

 

90) Which of the following is correct about litigating commercial disputes?

A. Commercial disputes, because of their specialized nature, are first heard at the appellate court level.

B. Nearly all states have specialized trial courts that hear commercial disputes.

C. Businesses generally dislike the concept of specialized trail courts for commercial disputes because the large numbers of consumers who sue businesses in these courts have led the judges to become generally biased against business.

D. A few states have established specialized trial courts for commercial disputes.

E. In all states, commercial disputes must be heard in a limited-jurisdiction court.

 

91) Which of the following activities by an administrative agency requires public notice and participation?

A. Substantive rule making and interpretive rule making only.

B. Substantive rule making only.

C. Statements of policy only.

D. Substantive rule making and statements of policy only.

E. Substantive rule making, interpretive rule making, and statements of policy.

 

92) What type of commercial speech did the U.S. Supreme Court say was protected in the Greater New Orleans Broadcasting Association, Inc. v. United States case?

A. Obscene speech.

B. Information on gambling and lotteries.

C. Information on how to build a bomb.

D. Information about child pornography.

 

93) Which of the following lists, in descending priority, of sources considered by most courts in settling questions of international law?

A. Treaties, customs, general principles of law, judicial decisions and teachings

B. Conventions, comity, customs, general principles of law

C. Treaties, customs, conventions, comity

D. Conventions, treaties, comity, customs

E. Treaties, customs, conventions, comity

 

94) Information which comes to the knowledge of an agent is:

A. Is imputed to the principal.

B. Can be disclosed to the principal only with the third party’s consent.

C. Will result in termination of the agency arrangement if it is not communicated to the principal.

D. Required to be communicated to the principal in all circumstances.

 

95) A professional corporation is one that:

A. Has been in existence long enough to reasonably assure that it will be profitable in the near future.

B. Is typically used as a form of doing business by doctors and lawyers.

C. Does not have shareholders.

D. Is formed with the assistance of a lawyer.

 

96) What makes a publicly held corporation different from a public corporation?

A. A publicly held corporation is entitled to limited liability, but a public corporation is not.

B. A publicly held corporation must have a charitable purpose, but a public corporation need not have a charitable purpose.

C. They are two terms that have the same meaning.

D. A publicly held corporation has many shareholders rather than being a corporation owned by a governmental entity.

 

97) A “closely held corporation” is a corporation that is owned by:

A. The government.

B. A few shareholders, usually family members.

C. A nonprofit organization.

D. A large number of members of the public.

 

98) One study found that manufacturing labor costs about _____ an hour in China, compared to _____ dollars in the United States.

A. About $2; about 15

B. $2; about 25

C. Less than $1; about 15

D. Less than $1; about 40

E. Less than $1; about 25

 

99) Which country does the text describe as becoming the largest producer and consumer of many of the world’s goods?

A. Canada

B. China

C. Japan

D. Ecuador

E. Mexico

 

100) Although the U.S. has had a longstanding agreement with _____ after the passage of NAFTA, _____ became the United States’ second largest trading partner.

A. Canada, Mexico

B. Mexico, Venezuela

C. Canada, Venezuela

D. Great Britain, Paraguay

E. Mexico, Canada

 

MGT 311 Final Exam 

Rating A

 

1) In her work in the publishing industry, Vera seeks out new authors whom she considers promising. In the past 2 years she has found a number of new writers whose work she thought was exceptional, and immersed herself in the task of helping them shape their manuscripts for submission to her managers for publishing. Although she was extremely proud of the results, none of the authors she worked with were chosen for publication. Vera believes that the decision not to publish these authors was based on personal rivalries within management, rather than the quality of her writers’ work. She is extremely frustrated, dreads coming into work each morning, and is seriously thinking of resigning. How can Vera’s job attitude best be described?            

A. Low job satisfaction and low job involvement

B. High job satisfaction and low job involvement

C. Low job satisfaction and high job involvement

D. High job satisfaction and high job involvement

 

 2) Julia works as a receptionist at a real-estate company. Her boss just came in the door and yelled at her, telling her that the front office was a mess and that she needed to get up and clean it immediately. After her boss left the room, Julia grabbed three magazines and violently slammed them into the trash can. Which of the following best describes Julia’s action?           

 A.  An affect

 B.  A thought

 C.  A mood

 D.  An emotion

 

3) Erin works on a software help desk. After being yelled at by a customer about the state of her company’s software, she becomes angry, and has to take a short break to calm down. What makes her anger an emotion, rather than a mood?           

a.             It is a simple, unambiguous feeling.

b.             It interferes with her capacity to work effectively.

c.             It has a contextual stimulus.

d.             It can be controlled given some time.

 

 4) Any incompatibility between two or more attitudes or between behavior and attitudes results in what?

a.             organizational dissonance

b.             cognitive dissonance

c.             attitudinal clarification

d.             values clarification

 

 5) What is the degree to which a person identifies with his or her job, actively participates in it, and considers his or her performance as being important to self-worth?           

a. Job satisfaction

b. Job involvement

c. Job stability

d. Job enrichment

 

6) What term is used for those emotions that an organization requires workers to show and considers appropriate for a given job?    

   a.     Felt emotions

   b.        Required emotions

   c.       Conditional emotions

   d.       Displayed emotions

 

 7) Janet needs to assign a very important advertising account to one of her writers. First she reviewed each writers work load, then she studied the sales data of the products for the last three campaigns of each writer, then she reviewed each writer’s annual review to familiarize herself with their goals. Finally, she gave the account to Paula, a very creative, efficient writer who has had high sales results with her last three clients’ products. What is Janet’s management style is based on?

a) organizational behavioral studies

b) substantive evidence approach

c) preconceived notions

d) systematic study

 

8) Basing managerial methods on the best available scientific evidence is called what?                 

A. Systematic study

B. Organizational behavior

C. Evidence-based management

D. Conceptual management           

 

9) The manager at a construction site observes that he is spending a great deal of time interviewing prospective employees. This is due to the large amount of absenteeism and turnover among his skilled workers. While questioning exiting employees, he discovers that many of them quit because they feel the work place is too dangerous. In particular, several foremen have stated that the need to get the job done quickly is more important than a few rules, and have gone as far as to mock the courage of workers who question this attitude. What is the best way for the manager to control the deviant behavior of the foremen?         

A. Ordering the foremen to conform with the required safety standards

B.  Finding out why the foremen place a greater importance on finishing the job than on safety

C.  Firing the foremen and promoting new foremen from the current pool of workers

D.  Taking over the work of the foreman himself

 

10) Phil loves sales. He has been a stellar sales person since he was 12. Recently he was awarded a full paid trip for two to Puerto Rico for breaking a company sales record. Phil is so motivated to work, he has set a new goal to break his old record in the coming year. Taking into account self-determination theory, why did the company recognition and award, an extrinsic reward, motivate Phil?             

A. The reward was seen as a coercive method of increasing sales and motivated Phil to prove himself intrinsically.

B.  The reward was imposed to work toward a standard that Phil could not believe in, and his intrinsic motivation suffered.

C.  The reward increased Phil’s sense of competence by providing feedback that improved his intrinsic motivation.

D. The reward increased Phil’s sense of competence by providing feedback that diminished his intrinsic motivation.

 

 11) Tony loves programming. He was on the ground level of the computer revolution. This year his boss has set personal goals for each of the programmers, one of which includes a presentation from each programmer about a project. Tony is very annoyed because he has a tremendous amount of work to do and he will have to spend the weekend, his personal time, preparing the presentation. Taking into account self-determination theory, why did his manager’s goals and the presentation reduce Tony’s motivation?    

A.    The internally imposed goal feels coercive, causing Tony’s intrinsic motivation to suffer.

B.    The self-imposed goal increases his sense of competence, causing the intrinsic motivation to suffer.

C.    The externally imposed goal is an external reward, causing Tony’s intrinsic motivation to increase.

D.    The externally imposed goal feels coercive, causing Tony’s intrinsic motivation to suffer.

 

 12) Glendon has a degree in business and worked for 2 years at an international firm in Spain. When the firm suffered cutbacks and Glendon returned home, he took a job at a nonprofit agency mentoring at-risk Spanish-speaking children. Glendon earns a third of what he earned in the business world, but has decided that his new goal is to acquire a larger case load and continue to use his Spanish to help people. Which theory explains why Glendon is happy with a much smaller external reward for his work?    

A.    Self-imposition of goals

B.    nAch

C.    Self-concordance

D.    Extrinsic motivation

 

 13) Today Marci’s boss entered her cubicle and told her that her work has been fantastic, and that because of her last project the client is going to give the company all of their business. Marci’s boss continued to talk about what a great job she’s doing. When her boss left, Marci felt very confident and satisfied with herself and her job. Marci’s boss uses communication in which of the following functions?    

A.    Motivation

B.    Control

C.    Emotional expression

D.    Information

 

 14) What can managers do to make sure that important information is not withheld from them through silence?

A.    Listen to and support diverse opinions.

B.    Deal with information overload.

C.    Interpret what they see and call it reality.

D.    Tell employees what they want to hear.

 

 15) When Neal Patterson, CEO of Cerner Corporation, sent his seething e-mail to 400 managers, he erred by selecting the wrong

A.    channel for his message

B.    message

C.    distribution

D.    emotional charge

 

 16) Araceli is a team member in a large corporation. She never speaks in the team meetings because she has seen members talk behind each others’ backs outside of the meetings. Members are constantly monitoring the other member’s work, looking for a mistake to point out in a meeting. According to the information provided, which contextual factor is most likely hindering the success of Araceli’s team?  

A.    Adequate resources

B.    Climate of trust

C.    Team structure

D.    Performance evaluations

 

 17) Ayesha is leading a group to develop a prototype for a new product. She has chosen three people to work with her. Ben and Tom are good friends and socialize on the weekend. They are both very creative. Julian is older than Ben and Tom, but they have worked together before and been quite productive. Julian is organized. Ayesha has never worked with any of the men, but knows the product well. She brings the highest level of expertise. Which of the following statements best describes Ayesha’s group?  

A.    High norms, low cohesiveness, high productivity

B.    Low norms, low cohesiveness, low productivity

C.    High norms, high cohesiveness, high productivity

D.    Low norms, high cohesiveness, low productivity

 

 18) Irma does not like a few of the standard operating procedures adapted for the new project. However, she discussed the items with the team and told them that she realized she was in the minority and that she would adapt the new procedures to maintain smooth operations within the team. What is this type of intention called?   

A.    Sacrificing

B.    Accommodating

C.    Collaborating

D.    Compromising

 

19) Angelina feels that her cubicle neighbor talks too loudly on the phone, but in other ways she is a great neighbor. Angelina gets annoyed every time her neighbor’s phone rings, but she has decided it is simply not worth the trouble to talk to her neighbor. What is Angelina’s conflict intention called?

A.    Avoiding

B.    Accommodating

C.    Compromising.

D.    Collaborating

 

20) For process conflict to be productive, it must be   

A.    Kept high

B.    Kept low

C.    Kept at low to moderate levels

D.    Kept at moderate levels

 

 21) The right inherent in a managerial position to give orders and expect orders to be obeyed is termed          

A.    chain of command

B.    authority

C.    power

D.    unity of command

 

 22) ________ are consistent with recent efforts by companies to reduce costs, cut overhead, speed up decision making, increase flexibility, get closer to customers, and empower employees.

A.    Wider spans of control

B.    Narrower spans of control

C.    Matrix structures

D.    Simple structures

 

 23) What is the process through which employees are adapted to an organization’s culture?           

A.    Personalization

B.    Mentoring

C.    Socialization

D.    Institutionalization

 

 24) If there is a basic conflict between the individual’s expectations and the reality of working in an organization, the employee is most likely to be disillusioned and quit during which stage of socialization?      

 A.   Prearrival

 B.   Ritual

 C.   Metamorphosis

 D.   Encounter    

 

 25) When your superior offers you a raise if you will perform additional work beyond the requirements of your job, he or she is exercising ________ power.          

 A.   Legitimate

 B.   Coercive

 C.   Reward

 D.   Personal

 

 26) Political behaviors usually

A.    lie outside of an individual’s specified job performance

B.     are counter productive to individual goals

C.     are seen only in large organizations

D.     are frowned upon by organizational leaders

 

 27) Regardless of the composition of a group, managers can leverage diversity to achieve superior performance by which of the following approaches?         

A.     Emphasize the higher-level similarities among members.

B.     Ensure that everyone knows the importance of diversity in groups.

C.     Explain the legal and ethical implications involved of not having a diverse group.

D.     Focus on the benefits of having a diverse group.

 

28) Effective workforce programs that encourage diversity have three distinct components. First, they inform managers about the legal framework for equal employment opportunities and encourage fair treatment. Second, they teach managers how a diverse workforce will be better able to serve a diverse market of customers and clients. Third, they           

A.     ensure top-level management represents the diversity of its workforce and client base

B.     ensure that certain groups have not been underutilized

C.     generally involve one-shot training sessions that don’t take up an undue amount of time

D.     foster personal development practices that bring out the skills and abilities of all workers

 29) If individuals resisting change are included in making change decisions in an attempt to gain their support, what is this approach called?

 A.   Cooptation

 B.   Exploitation

 C.   Manipulation

 D.   Coercion

30) Which tactic to overcome resistance to change is a relatively easy way to gain the support of adversaries, but may backfire if the targets become aware of the tactic?

 A.    Conciliation

B.    Manipulation

C.     Coercion

D.     Cooperation

 

 

 

The workplace can be an especially stressful environment. Personal conflicts between coworkers, fear of layoffs, and heavy workloads can be causes of negative stress. This stress can be carried to our homes and after-work activities, impacting personal health. Allowing these stressors to build and intensify will only further impair the work environment. For this assignment, you are required to review a scenario regarding a woman (Kate) who has experienced negative stress stemming from her work environment. Then, you will compare your own conflict management skills and experiences against Kate’s experiences. Follow the directions below to write an 8–10-page report on conflict management.

Review the following scenario:

Kate has been employed by a well-known manufacturing company for 12 years. She is the only female on her line and the fastest worker. She has been promoted several times through mergers and acquisitions, but has always been looked over for a senior management position. Kate believes she is qualified for advancement but thinks her manager has a problem with her personally. To top it off, Kate did not receive a semiannual or annual review, which would have resulted in a raise. Her coworkers (all males) have urged her to go to management and report what she believes to be discriminatory behavior from her immediate manager.

Now, complete the following tasks:

1. Discuss a situation you have been in where you felt you were passed over for a promotion, made to feel indifferent, or were discriminated against. Compare and contrast your story with Kate’s.
2. Compare the possible ethical breaches of Kate’s manager against your own manager’s behavior. Utilize scholarly research on leadership theory as justification.
3. Compare the possible legal breaches of Kate’s manager against your own manager’s behavior. Utilize scholarly research on leadership theory as justification.
4. Recommend an approach Kate could have used to manage the negative risk both personally and professionally.
5. Evaluate the advice Kate received from her coworkers.
6. Referring to the conflict resolution strategies taught in this course, determine which one is best suited to resolve Kate’s conflict. Justify your position.
7. In the chart below, evaluate your conflict resolution skills from the past five years. Rate yourself on a scale from 1–5, where 1 represents low performing and 5 represents high performing.

Conflict Resolution Approach	Rate Yourself (1–5)
Preventing the conflict
Suppressing the conflict
Avoiding the conflict
Using false emotions for distracting the conflict
Eliminating the conflict
Accepting the conflict
Recognizing the value of the conflict
Encouraging interpersonal criticism
Managing the conflict

 

1. Select one conflict resolution approach in which you ranked the lowest and develop an individual improvement plan for that approach.
2. Explain how the mediation process could strengthen your conflict resolution and management skills.
3. Discuss how the arbitration process could strengthen your conflict resolution and management skills.
4. Implement some portion of your plan. Provide a detailed summary of the changes that occurred in your development as it relates to your ability to handle conflict.

Write an 8–10-page report in Word format. Utilize at least four scholarly sources (in addition to your textbook) to complete your research, referencing them within the text and at the end in a reference list. Apply APA standards to citation of sources. Use the following file naming convention: LastnameFirstInitial_M5_A2.doc.

Make sure you write in a clear, concise, and organized manner; demonstrate ethical scholarship through accurate representation and attribution of sources; and display accurate spelling, grammar, and punctuation.

By Wednesday, April 8, 2015, deliver your assignment to the M5: Assignment 2 LASA 2 Dropbox.

BUS 475 Final EXAM A+++

 

 

1) As Plant Controller, you are trying to determine which costs over which you have themost control on a day to day basis. Your goal is to achieve better profitability. The PlantOperations 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 salary

B.   Factory janitor

C.   Cost of landscaping the corporate office

D.   General corporate liability insurance

 

2) Managerial accounting __________.

A. is concerned with costing products

 B. is governed by generally accepted accounting principles

 C. pertains to the entity as a whole and is highly aggregated

 D. places emphasis on special-purpose information

 

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

The net income (or loss) for the period is __________.

A.   not determinable

B.   $10,000 loss

C.   $10,000 income

D.   $48,000 income

 

4) Of the following companies, which one would not likely employ the specific identification method for inventory costing?

A. Hardware store

B. Farm implement dealership

C. Music store specializing in organ sales

D. Antique shop

 

5) The standards and rules that are recognized as a general guide for financial reporting are called _______.

A. generally accepted accounting principles

B. generally accepted accounting standards

C. standards of financial reporting

D. operating guidelines

 

6) 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. $12,000

C. $28,000

D. $18,000

 

7) Balance sheet accounts are considered to be __________.

A. permanent accounts

B. capital accounts

C. nominal accounts

D.  temporary stockholders’ accounts

 

8) Multinational corporations __________.

A. are U.S. companies that sell goods and services in other countries

B. are U.S. companies that trade their securities on the exchanges in other countries

C. are required to use international accounting standards

D. are firms that conduct their operations in more than one country through subsidiaries, divisions, or branches in foreign countries

 

9) What effect do current technology changes have on managerial accounting?

A. Increase in product costs

B. Reduction of emphasis on the value chain

C. Reduction of reporting costs of managerial accounting information

D. Creation of the middleman

 

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

A.   the most accurate measure of purchasing power

B.   a conservative value

C.   relevant and objectively measured, and verifiable

D.   an international accounting standard

 

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

A.   Additional information

B.   Adjusted trial balance

C.   Comparative balance sheets

D.   Current income statement

 

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

A. the same when the asset is sold

B. never the same

C. irrelevant when the asset is used by the business in its operations

D. the same on the date of acquisition

 

13) 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.   $90,000

B.   $150,000

C.   $60,000

D.   $75,000

 

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

A. computing the activity-based overhead rate

B. assigning manufacturing overhead costs for each activity cost pool to products

C. analyzing the activities performed to manufacture a product

D. identifying the activity-cost pools

 

15) For a college student who wishes to calculate the true costs of going to college, the costs of room and board __________.

A.   plus the cost of tuition, equals the opportunity cost of going to college

B.   should be counted only to the extent that they are more expensive at college than elsewhere

C.   should be counted in full, regardless of the costs of eating and sleeping elsewhere

D.   usually exceed the opportunity cost of going to college

 

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

A. market prices do not change much over time, so it is easy to make comparisons between years

B. market prices reflect the values of goods and services

C. if market prices are out of line with how people value goods, the government sets price ceilings and price floors

D. Market prices are not used in computing GDP

 

17) In economics, the cost of something is __________.

A. often impossible to quantify, even in principle

 B. the dollar amount of obtaining it

 C. always measured in units of time given up to get it

 D. what you give up to get it

 

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

A.  the principle of comparative advantage

B.  the principle of absolute advantage

C.  the recognition that not all markets are competitive

D.  the recognition that government intervention in markets sometimes enhances the economic welfare of the society

 

19) 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.   double the quantity supplied

B.   less than quantity supplied

C.   greater than quantity supplied

D.   equal to quantity supplied

 

20) What you give up to obtain an item is called your __________.

A. direct cost

B. explicit cost

C. opportunity cost

D. true cost

 

21) One characteristic of an oligopoly market structure is:

A. firms in the industry have some degree of market power.

B. the actions of one seller have no impact on the profitability of other sellers.

C. firms in the industry are typically characterized by very diverse product lines.

D. products typically sell at a price that reflects their marginal cost of production.

 

22) 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 monetary policy reaction lag

B. the sacrifice ratio dilemma

C. the time inconsistency of policy

D. inflation targeting

 

23) In general, the longest lag for __________.

A. both fiscal and monetary policy is the time it takes for policy to affect aggregate demand

B. 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 demand

C. 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 demand

D. both fiscal and monetary policy is the time it takes to change policy

 

24) The model of short-run economic fluctuations focuses on the price level and __________.

A.real GDP.

B.economic growth.

C.the neutrality of money.

D.All of the above are correct.

 

25) Real GDP __________.

A. evaluates current production at the prices that prevailed in some specific year in the past.

B. is not a valid measure of the economy’s performance, since prices change from year to year.

C. is a measure of the value of goods only; it excludes the value of services.

D. evaluates current production at current prices.

 

26) 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.

 

27) Which of the following statements about GDP is correct?

A. Money continuously flows from households to government and then back to households, and GDP measures this flow of money.

B. GDP measures two things at once: the total income of everyone in the economy and the unemployment rate.

C. GDP is to a nation’s economy as household income is to a household.

D. GDP increases if the total population increases.

 

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

A. Knowledge management

B. Innovation

C. Competitiveness

D. Effectiveness

E. Collaboration

 

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. Employment

B. Diversity

C. Recruiting

D. Selection

 

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

A.   behavioral assessment

B.   aptitude tests

C.   integrity evaluations

D.   intelligence tests

E.   work sampling

 

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

A. High-price strategy

B. Low-cost strategy

C. Diversification strategy

D. Differentiation strategy

E. High-cost strategy

 

32) Sebastian Stabilio just joined a team of people from throughout his organization whose primary task is to recommend valuable uses for the scrap generated in the manufacturing process. The team meets twice per week; otherwise members work within the usual organizational structure. The team, not permanent, which Sebastian has joined, would be considered a:

A.   Parallel team

B.   Project team

C.   Working group

D.   Work team

E.   Project group

 

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

A. Large corporation

B. Small business

C. Online Business

D. Multinational corporation

E. Entrepreneurship venture

 

34) 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.   Organic

B.   Six Sigma Quality

C.   Mechanistic

D.   ISO 9000

E.   Total quality integration

 

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

A. Producing an imitation of the new technology that utilizes lower-quality and lower-cost materials

B. Technology followers are not successful at low-cost strategies

C. Mass-producing products that have an established market niche

D. Making subtle changes to the product, thereby avoiding patent restrictions

E. Learning from the leader thereby avoiding the costs and risks of technology leadership

 

36) 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. Planning

B. Organizing

C. Goal Coordination

D. Controlling

E. Staffing

 

37) To be competitive in a global economy, Europeans must increase their level of:

A. Productivity

B. Population density

C. Philanthropic contributions

D. Espionage activity

 

38) 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. Just-in-time control (JIT)

B. Customer-based integration

C. Computer-integrated manufacturing (CIM)

D. Total quality management

E. ISO 9000

 

39) Teams that work on long-term projects but disband once the work is completed are known as:

A. Management teams

B. Traditional work groups

C. Project and development teams

D. Transnational teams

E. Parallel teams

 

40) The pursuit of lucrative opportunities by enterprising individuals is called:

A. Independence

B. Intrapreneurship

C. Entrepreneurship

D. Business incubating

 

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

A.   using a performance simulation test

B.   using the interview process

C.   administering an IQ test

D.   having them spend a day in the office

E.   using a written test

 

42) A poll showed that 48 out of 120 randomly chosen graduates of California medical schools last year intended to specialize in family practice. What is the width of a 90% confidence interval for the proportion that plan to specialize in family practice?

A. ± .00329

B. ± .04472

C. ± .08765

D. ± .07357

 

43) Two events are complementary when __________.

A.the joint probability of the two events is one

B. the sum of their probabilities is one

C. they are mutually exclusive

D.None of these

 

44) 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 __________.

A. judgment sampling

B. stratified random sampling

C. simple random sampling

D. cluster sampling

 

45) Use the following table to answer question:

Are Service provider and county independent events?

A.   Insufficient information to determine

B.   Yes

C.   No

 

 

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.

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

A.   increase by 428

B.   decrease by 50

C.   increase by 500

D.   increase by 50

 

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 is greater than .05.

 D. The p-value cannot be determined without specifying α.

 

48) In lean systems, if a defective product is found, which of the following is generally NOT done?

A. The defective unit is passed on to the next workstation.

B. The defective unit is returned to the worker responsible for creating the defect. 

C. The production line is made aware of the problem without stopping the line. 

D. The production line is stopped.

 

49) Queuing models use an A/B/C notation. What do these variables represent?

A. average time between arrivals/average service time/number of parallel servers

B. maximum time between arrivals/maximum allowable service time/maximum number of parallel servers

C. minimum time between arrivals/minimum allowable service time/minimum number of parallel servers

D. distribution of time between arrivals/distribution of service times/number of parallel servers

 

50) Suppose the estimated quadratic model Yt = 500 + 20 t – t2 is the best-fitting trend of sales of XYZ Inc. using data for the past twenty years (t = 1, 2,.., 20).

Which statement is incorrect?

A. Latest year sales are no better than in year zero.

B. Sales are increasing by about 20 units per year.

C. The trend was higher in year 10 than in year 20.

D. The turning point would be in period 10.

 

51) 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.   you can send someone home 6 hours early and still pay them the $60 they would have earned while on the clock.

C.   the next worker that offers to work an extra 8 hours should receive at least $80.

D.   you would be willing pay up to $60 for someone to work another 6 hours.

 

52) A computer analysis reveals that the best-fitting trend model is Yt = 4.12 e 0.987 t. The trend was fitted using year-end common stock prices for Melodic Kortholt Outlet for the last six years. The R2 is 0.8571.

Which conclusion is not correct?

A.  The absolute annual growth (in dollars per share) is increasing.

B.  Few investments could match the astounding growth rate.

C.  The stock’s true intrinsic value is $4.12.

D.  At the end of year 3 the stock price would be nearly $80.

 

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

A. at the end of year 3 the stock price would be nearly $80

B. the absolute annual growth (in dollars per share) is increasing

C. few investments could match the astounding growth rate

D. the stock’s true intrinsic value is $4.12

 

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

A.   procedures

B.   database

C.   software

D.   network

E.   hardware

 

55) _____ is the integration of economic, social, cultural, and ecological facets of life, enabled by information.

A. nationalization

B. business environment

C. regionalization

D. globalization

 

56) What is _____ is not necessarily _____.

A.   Ethical, legal

B.   Unethical, illegal

C.   Ethical, illegal

D.   Unethical, legal

E.   Illegal, unethical

 

57) Which of the following is not a source for external data?

A. commercial databases

B. corporate databases

C. sensors

D.  satellites

E. government reports

 

58) The management cockpit best exemplifies which type of system?

A.   Group decision support system

B.   Functional area information system

C.   Digital dashboard

D.   Expert system

E.   Decision support system

 

59) _____ provides users with a view of what is happening, where _____ addresses why it is happening.

A.   Multidimensional data analysis, data mining

B.   Multidimensional data analysis, neural networks

C.   Data mining, expert system

D.   Data mining, multidimensional data analysis

E.   Multidimensional data analysis, structured query language

 

60) International Game Technology’s new ERP system produced all of the following benefits except:

A. Company was able to maintain its original business processes

B. ERP system connected the company’s global operations

C. The company gained flexibility in manufacturing products

D. Operations employees were able to access manufacturing process details at their workstations

E. Integrated the company’s business functions

 

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

A.   Decisions are becoming more complex

B.   Decision makers are often in different locations

C.   Decisions must typically be made under time pressure

D.   Need to access remote information sources

E.   Number of alternatives are decreasing

 

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

A. Data mining

B. Expert systems

C. Neural networks

D. Multidimensional data analysis

E. Structured query language

 

63) Exchange rate risk:

A. applies only to certain types of domestic businesses.

B. has been phased out due to recent international legislation.

C. doesn’t affect trades made in US Dollars.

D. arises from the fact that the spot exchange rate on a future date is a random variable.

 

64) PepsiCo calculates unlevered betas for each peer group in order to:

A. eliminate competitive factors.

B. eliminate judgment factors.

C. eliminate different financial risks.

D. eliminate different business risks.

 

65) At 8% compounded annually, how long will it take $750 to double?

A. 48 months

B. 6.5 years

C. 9 years

D. 12 years

 

66) 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?

A.   $6.00

B.   $37.50

C.   $16.67

D.   $15.00

 

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

A. 6%

B. 5%

C. 7%

D. 8%

 

68) Which of the following best represents operating income?

A. Earnings before interest and taxes

B. Income from discontinued operations

C. Income after financing activities

D. Income from capital gains

 

69) Given the following annual net cash flows, determine the IRR to the nearest whole percent of a project with an initial outlay of $1,520.

Year           Net Cash Flow

1        $1,000

2        $1,500

3        $  500

A. 40%

B. 28%

C. 48%

D. 32%

 

70) 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.

 

71) Which of the following best represents the stream of income that is available to common stockholders?

A.  Operating profit 

B.  Gross profit 

C.  Net profit after tax and after preferred dividend payments 

D.  Earnings before interest and taxes 

 

72) 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. -$150

C. $490

D. $900

 

73) 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 appropriate after-tax cost of debt for Dublin International to use in a capital budgeting analysis.

A. 6.0%

B. 5.1%

C. 8.5%

D. 9.2%

 

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.

A. more, less

B. more, more

C. less, more

D. less, less

 

75) Bondholders have a priority claim on assets ahead of:

A. shareholders.

B. investors

C. creditors.

D. common and preferred stockholders.

 

76) Clustering techniques applied to segmenting markets __________.

A.   eliminate the need for marketing managers to specify in advance what dimensions might be relevant for grouping consumers

B.   remove the need for managerial judgment

C.   usually require computers to group people based on data from market research

D.   doesn’t apply to demographic data

E.   is time consuming and expensive

 

77) Economists’ economic-buyer theory assumes that __________.

A.   consumers only want the cheapest price

B.   buyers logically compare choices in order to maximize their satisfaction

C.   demographic data are very useful for predicting consumer behavior

D.   consumers should purchase only low-priced products

E.   consumers always make rational decisions

 

78) 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) does not rely on e-commerce but mass marketing does.

E) aims at increased sales, while mass marketing focuses on increased profits.

 

79) Which of the following is a business or organizational customer?

A. a retailer.

B. a wholesaler.

C. a government agency.

D. producers of goods or services.

E. All of these are business and organizational customers.

 

80) 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.

A.  mass marketing

B.  diversification

C.  market penetration

D.  product development

E.  market development

 

81) “Positioning”:

A. helps strategy planners see how customers view competitors’ offerings.

B. eliminates the need for judgment in strategy planning.

C. applies to new products–but not existing products.

D. is concerned with obtaining the best shelf space in retail outlets.

E. is useful for combining but not for segmenting.

 

82) The basic objective of the U.S. market-directed economic system is to:

A. satisfy consumer needs as they–the consumers–see them.

B. minimize inflation.

C. achieve an annual growth rate of at least 10 percent.

D. provide each person with an equal share of the economic output.

E. make the most efficient use of the country’s resources.

 

83) A cluster analysis of the “toothpaste market” would probably show that:

A.   most consumers are concerned about cost.

B.   most consumers are mainly concerned about brightness of teeth.

C.   the broad product-market can be served effectively with one marketing mix.

D.   factors such as taste, price, and “sex appeal” are not important.

E.   different market segments seek different product benefits.

 

84) Marketing:

A.   not important if you have a good product.

B.   reflects existing social values in the short run–while reinforcing these values in the long run.

C.   turns consumers into puppets.

D.   creates materialistic values which did not exist before.

E.   is only propaganda.

 

85) The clustering techniques that can be used in segmenting:

A. group people together into heterogeneous product-market segments.

B. eliminate the need for management intuition and judgment.

C. group people together based on age.

D. try to find similar patterns within sets of data.

E. looks for differences between groups of people.

 

86) An Australian wine producer, facing declining sales at home, set up a new channel of distribution to sell wine in the United States. This seems to be an effort at:

A. diversification.

B. market penetration.

C. product development.

D. market development.

 

87) The statement, “Of course people will buy our product–each of its features is better than the competition,” most closely reflects which consumer behavior concept?

A.   the economic-buyer theory

B.   reference groups

C.   psychographics

D.   needs

E.   competitive advantage      

 

88) Bob, an employee of Risky Manufacturing, Inc. is accidentally injured by a fellow worker while working his shift. Under workers’ compensation, Bob can:

A. Seek workers’ compensation only.

B.Sue Risky or seek workers’ compensation recovery, but not both.

C.Sue Risky or seek workers’ compensation recovery.

D.Recover from workers’ compensation only if Risky was negligent in allowing the injury to occur.

 

89) Which of the following statements is not true under the Fair Labor Standards Act?

A) Children under 14 cannot work at all, except on farms.

B) Children ages 14 and 15 may work limited hours in nonhazardous jobs.

C) Children ages 16 and 17 may work unlimited hours in nonhazardous jobs.

D) Persons age 18 or over may work unlimited hours in nonhazardous jobs.

E) Persons age 18 or over may work unlimited hours in hazardous jobs.

 

90) Which of the following terms need not be disclosed under the Truth-in-Lending Act?

A) the annual percentage rate (APR)

B) the cash price of the product

C) the terms available from competitors

D) the total finance charge

E) amount of payments

 

91) Which of the following is correct about litigating commercial disputes?

A. Commercial disputes, because of their specialized nature, are first heard at the appellate court level.

B. Nearly all states have specialized trial courts that hear commercial disputes.

C. Businesses generally dislike the concept of specialized trail courts for commercial disputes because the large numbers of consumers who sue businesses in these courts have led the judges to become generally biased against business.

D. A few states have established specialized trial courts for commercial disputes.

E. In all states, commercial disputes must be heard in a limited-jurisdiction court.

 

92) Minimum wages, hours of employment, and child labor are regulated by the:

A. Regulated Hours Act

 B. Right to Work Laws

 C. Federal Employment Act of 1940

D. Fair Labor Standards Act

 

93) An agent’s duty of notification can best be described as a duty to:

A) notify any third parties that the agent is acting as an agent

B) notify any third parties as to the identity of the principal

C) notify the principal about any material information that the agent learns relative to the subject matter of the agency

D) notify the principal in a reasonable period of time in advance of terminating the agency arrangement

 

94) Which of the following is correct about the states’ powers regarding foreign affairs?

A. The states can pass laws and enter into treaties with foreign nations so long as they do not unduly burden foreign commerce.

B. The states have no power over foreign affairs because the U.S. Constitution grants that power exclusively to the federal government.

C. Because of the sharing of powers between the federal government and the states, states have powers over foreign affairs equal to the powers of the federal government.

D. The states can pass laws so long as they do not unduly burden foreign commerce, but the states have no authority to enter into treaties with foreign nations.

E. The states can pass laws affecting foreign commerce and enter into treaties with foreign nations so long as they first obtain the consent of the Senate.

 

95) Which of the following is true about trademark registration?

A. Once a trademark is registered, protection cannot be lost.

B. The registration of a trademark can be renewed an unlimited number of times.

C. A trademark must be registered prior to its actual use in commerce.

D. Trademark registration is optional because protection is automatic.

 

96) What makes a publicly held corporation different from a public corporation?

A. A publicly held corporation is entitled to limited liability, but a public corporation is not.

B. A publicly held corporation must have a charitable purpose, but a public corporation need not have a charitable purpose.

C. They are two terms that have the same meaning.

D. A publicly held corporation has many shareholders rather than being a corporation owned by a governmental entity.

 

97) 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 moral minimum theory.

b. The maximizing profits theory.

c. The stakeholder interest theory.

d. The corporate citizenship theory.

e. The social audit theory.

 

98) One study found that manufacturing labor costs about _____ an hour in China, compared to _____ dollars in the United States.

A. About $2; about 15

B. $2; about 25

C. Less than $1; about 15

D. Less than $1; about 40

E. Less than $1; about 25

 

99) Which country does the text describe as becoming the largest producer and consumer of many of the world’s goods?

A. Canada

B. China

C. Japan

D. Ecuador

E. Mexico

 

100) Although the U.S. has had a longstanding agreement with _____ after the passage of NAFTA, _____ became the United States’ second largest trading partner.

A. Canada, Mexico

B. Mexico, Venezuela

C. Canada, Venezuela

D. Great Britain, Paraguay

E. Mexico, Canada

Conflict resolution is a necessary skill for any manager or leader. In this assignment, you will examine the difference between conflict and competition. You will also explore ways of determining when conflict resolution is necessary and explain ways to resolve conflict.

Research the role of conflict and competition using your textbook, the Argosy University online library resources, and the Internet. Select two resources for use in this assignment. Reflect on your experiences with conflict. If you have no business related experiences with conflict, apply your personal experiences to a common workplace situation.

Review the following video:

• Ury W. (2010, October). The walk from “no” to “yes” [Video File]. TED Conferences, LLC. Retrieved from http://www.ted.com/talks/william_ury.html

Using the selected resources and examples from your experiences respond to the following:

• Explain the difference between conflict and competition.
• Describe a situation where competition is healthy. How does that relate to a business environment?
• Describe a situation where competition could lead to conflict and might not be healthy.
• What methods could you use to resolve the conflict?
• What leadership techniques would you use to resolve a conflict?
• In resolving conflict, use an example to describe a “best case” scenario.

Give reasons in support of your assertions. Be sure to reference your selected resources and examples from your experiences.

Write a 3–4-page paper in Word format. Apply APA standards to citation of sources..

 

Assignment 2 Grading Criteria	Maximum Points
Explained difference between conflict and competition.	16
Explained instances where competition is healthy in a business environment.	16
Described situation where competition could lead to conflict and might not be healthy.	16
Recommended methods and leadership techniques to resolve conflict using “best case” scenario.	16
Used illustrative examples from your personal experiences and authoritative resources demonstrating in-depth analysis and research.	16
Wrote in a clear, concise, and organized manner; demonstrated ethical scholarship in accurate representation and attribution of sources; displayed accurate spelling, grammar, and punctuation.	20
Total:	100