Business Chosen for assignments is: A Caribbean Restaurant
BUS475 Week-1 Knowledge check (Score: 100%)
1. Reaching a valid decision is based on the evaluation of arguments. If we know that a valid argument has true premises, then a decision based on the argument______________.
• A. must be sound
• B. might be sound
• C. is strong
• D. might have a false conclusion
2. Identify the fallacy in the following piano store advertisement: "Pianos are our only business. You'll get the best deal at the Piano Experts."
• A. Ad hominem
• B. Straw man
• C. Hasty generalization
• D. Red herring
3. Which of the following statements describes creativity correctly?
• A. Only highly intelligent people are capable of generating creative ideas.
• B. Creative people are born with the trait.
• C. Anyone can become more creative.
• D. Children are more creative than adults.
4. How would you assess the following statement? Consider both the nature of the claim and the source. "Lottery director Mark Michalko said Thursday that allegations that Californians are squandering money they once used for food to buy lottery tickets are just not correct.'. . . California Grocers Association president Don Beaver raised the issue earlier in the week, saying five supermarket chains had complained that grocery sales dropped about 5 percent after lottery tickets went on sale October 3." —Sacramento Bee
• Probably true
• Probably false
• Requiring further documentation
• Claim that cannot be properly evaluated
5. The Sarbanes–Oxley Act was created in 2002 to improve and maintain investor confidence. The act includes which of the following:
• senior managers sign off on financial results
• privately held companies must report to the public
• officers are exempt if they were not aware of a misrepresentation
• company insiders may compose the entire Board of Directors
6. Organizational behavior is examined at three main levels.
• Traits, behaviors, and results
• Affective, cognitive, and behavioral
• Individual, organizational, and societal
• Individual, group, and organizational
7. Employees who have intrinsic work values will be motivated by
• challenging assignments
• status in the workplace
• social contacts
• financial rewards
8. Research on the five-stage model of group development shows that
• all groups pass through the norming stage
• groups always pass through the stages in order
• not all groups go through each of the stages
• all groups pass through the adjourning stage
9.The extent to which a leader actually does help a group or organization to achieve its goals is best described as
• formal leadership
• leader effectiveness
• organizational profitability
• informal leadership
10. When the business environment is __________, an organization is most likely to decentralize authority and empower its employees to make operating decisions.
• stable
• uncertain
• unknown
• transparent
11. To make your communication more effective
• include as much information as possible, even if you are not sure it is necessary
• send the same messages by multiple channels
• clearly address your audience's wants and needs, not yours
• draw pictures and animations your audience will understand
12.Which of the following meeting technologies would be most effective for negotiations, collaborative problem solving, and other complex discussions?
• Telepresence
• Instant messaging
• Teleconference
• Telephone
13.Most persuasive messages combine
• many major points all at once
• logical and emotional factors
• truth and falsehood
• current and very old evidence
14. Important design elements to consider when creating slides include which of the following:
• word selection
• selecting background designs
• selecting a theme
• writing content
15. Which of the following would be the best wording to use on a resume?
• "I was in charge of a staff of six employees."
• "I supervised a full staff of six employees."
• "Was in charge of entire departmental staff."
• "Supervised staff of six employees."
16. The __________ approach to ethics maintains that an ethical action is the one that provides the most good or does the least harm.
• utilitarian approach
• rights approach
• fairness approach
• common good approach
17. Which type of privacy policy restricts an organization from collecting personal information until the customer specifically authorizes it?
• Opt-out model
• Opt-in model
• Electronic surveillance
• Profiling
18.Wireless communication includes which of the following:
• Bluetooth
• coaxial connections
• traditional land lines
• lighting connections
19. Enterprise resource planning applications seeks to integrate a number of issues, including which of the following:
• vacation schedules
• tenure of the staff
• production and inventory levels
• turnover rate of the project staff
20. The request for proposal (RFP) is one of the key tools in acquiring information systems and applications. Which of the following statements best characterizes the RFP?
• The RFP must always be used.
• It is prepared by the vendor.
• It always identifies the price.
• It defines the scope of the project.
21. The relationship between jurisdiction and venue of state and federal courts
• often causes delays in case resolution
• causes development of conflicting rules in similar disputes
• is determined by the U.S. Attorney General
• is well-defined by statute and case law
22.Businesses owe customers (business invitees) visiting their stores
• no duty of care, the customer assumes the risk of injury
• a warning of known risks, only
• a duty to inspect for and warn of risks
• a duty to repair hidden risks only where children are involved
23.A legally enforceable contract always requires
• a written document
• signatures of all parties
• a heading saying "Contract" or "Agreement"
• a manifest intent to be bound by the parties
24. Regulatory (or administrative) law arises from
• court decisions
• enabling statutes
• attorney general opinions
• policy documents prepared by nongovernmental organizations
25. The purpose of a clear ethical code in a business is
• to draw on employees religious background
• to encourage philosophical debate among employees
• to regulate employees' private conduct
• to manage values and conflicts among them
• A. must be sound
• B. might be sound
• C. is strong
• D. might have a false conclusion
2. Identify the fallacy in the following piano store advertisement: "Pianos are our only business. You'll get the best deal at the Piano Experts."
• A. Ad hominem
• B. Straw man
• C. Hasty generalization
• D. Red herring
3. Which of the following statements describes creativity correctly?
• A. Only highly intelligent people are capable of generating creative ideas.
• B. Creative people are born with the trait.
• C. Anyone can become more creative.
• D. Children are more creative than adults.
4. How would you assess the following statement? Consider both the nature of the claim and the source. "Lottery director Mark Michalko said Thursday that allegations that Californians are squandering money they once used for food to buy lottery tickets are just not correct.'. . . California Grocers Association president Don Beaver raised the issue earlier in the week, saying five supermarket chains had complained that grocery sales dropped about 5 percent after lottery tickets went on sale October 3." —Sacramento Bee
• Probably true
• Probably false
• Requiring further documentation
• Claim that cannot be properly evaluated
5. The Sarbanes–Oxley Act was created in 2002 to improve and maintain investor confidence. The act includes which of the following:
• senior managers sign off on financial results
• privately held companies must report to the public
• officers are exempt if they were not aware of a misrepresentation
• company insiders may compose the entire Board of Directors
6. Organizational behavior is examined at three main levels.
• Traits, behaviors, and results
• Affective, cognitive, and behavioral
• Individual, organizational, and societal
• Individual, group, and organizational
7. Employees who have intrinsic work values will be motivated by
• challenging assignments
• status in the workplace
• social contacts
• financial rewards
8. Research on the five-stage model of group development shows that
• all groups pass through the norming stage
• groups always pass through the stages in order
• not all groups go through each of the stages
• all groups pass through the adjourning stage
9.The extent to which a leader actually does help a group or organization to achieve its goals is best described as
• formal leadership
• leader effectiveness
• organizational profitability
• informal leadership
10. When the business environment is __________, an organization is most likely to decentralize authority and empower its employees to make operating decisions.
• stable
• uncertain
• unknown
• transparent
11. To make your communication more effective
• include as much information as possible, even if you are not sure it is necessary
• send the same messages by multiple channels
• clearly address your audience's wants and needs, not yours
• draw pictures and animations your audience will understand
12.Which of the following meeting technologies would be most effective for negotiations, collaborative problem solving, and other complex discussions?
• Telepresence
• Instant messaging
• Teleconference
• Telephone
13.Most persuasive messages combine
• many major points all at once
• logical and emotional factors
• truth and falsehood
• current and very old evidence
14. Important design elements to consider when creating slides include which of the following:
• word selection
• selecting background designs
• selecting a theme
• writing content
15. Which of the following would be the best wording to use on a resume?
• "I was in charge of a staff of six employees."
• "I supervised a full staff of six employees."
• "Was in charge of entire departmental staff."
• "Supervised staff of six employees."
16. The __________ approach to ethics maintains that an ethical action is the one that provides the most good or does the least harm.
• utilitarian approach
• rights approach
• fairness approach
• common good approach
17. Which type of privacy policy restricts an organization from collecting personal information until the customer specifically authorizes it?
• Opt-out model
• Opt-in model
• Electronic surveillance
• Profiling
18.Wireless communication includes which of the following:
• Bluetooth
• coaxial connections
• traditional land lines
• lighting connections
19. Enterprise resource planning applications seeks to integrate a number of issues, including which of the following:
• vacation schedules
• tenure of the staff
• production and inventory levels
• turnover rate of the project staff
20. The request for proposal (RFP) is one of the key tools in acquiring information systems and applications. Which of the following statements best characterizes the RFP?
• The RFP must always be used.
• It is prepared by the vendor.
• It always identifies the price.
• It defines the scope of the project.
21. The relationship between jurisdiction and venue of state and federal courts
• often causes delays in case resolution
• causes development of conflicting rules in similar disputes
• is determined by the U.S. Attorney General
• is well-defined by statute and case law
22.Businesses owe customers (business invitees) visiting their stores
• no duty of care, the customer assumes the risk of injury
• a warning of known risks, only
• a duty to inspect for and warn of risks
• a duty to repair hidden risks only where children are involved
23.A legally enforceable contract always requires
• a written document
• signatures of all parties
• a heading saying "Contract" or "Agreement"
• a manifest intent to be bound by the parties
24. Regulatory (or administrative) law arises from
• court decisions
• enabling statutes
• attorney general opinions
• policy documents prepared by nongovernmental organizations
25. The purpose of a clear ethical code in a business is
• to draw on employees religious background
• to encourage philosophical debate among employees
• to regulate employees' private conduct
• to manage values and conflicts among them
BUS475 Week-1 Company culture and strategic plan
What is company culture and how can it have an impact on the strategic plan.
175 words.
175 words.
BUS475 Week-2 Knowledge Check (Score 100%)
1. Compared with other approaches to business, the marketing concept is distinct in that it
A. focuses on sales
B. produces new products and services
C. creates a broad assortment of products
D. focuses on satisfying customers' needs
2. A company provides its advertising agency with a statement about a new product to use in designing an advertising campaign, and this statement includes a description of the target market, the product type, the primary benefits of using the product, and how this product is different from, and better than, competitive products. What type of statement is this?
A. Qualifying
B. Positioning
C. Determining
D. Clustering
3. The sales analysis of a product revealed that profits were highest when it was initially introduced into the market with a high selling price. However, the price was gradually reduced as it started facing competition as substitutes entered the market. This is an example of a(n)
A. introductory price dealing
B. temporary price cut policy
C. skimming price policy
D. penetration price policy
4. Blending the firm's promotion efforts to convey a complete and consistent message is the goal of
A. sales management communications
B. sales promotion communications
C. integrated promotional marketing
D. integrated marketing communications
5. According to the concept of social responsibility, a firm has a duty to
A. communicate regularly with the public
B. place profit above all other considerations
C. place customer satisfaction above all other considerations
D. conduct business in a way that is good for society as a whole, both now and for the
Future
6. The principal participants in the financial markets are
A. businesses, banks, and government
B. borrowers, savers, and financial institutions
C. mutual funds, hedge funds, and investment bankers
D. dealers, brokers, and regulators
7. You just purchased a parcel of land for $10,000. If you expect a 12% annual rate of return on your investment, how much will you sell the land for in 10 years? Note. Due to rounding and method of calculation, your answer might vary slightly. Choose the closest answer.
A. $25,000
B. $31,060
C. $38,720
D. $34,310
8. Bull Gator Industries is considering a new assembly line costing $6,000,000. The assembly line will be fully depreciated by the simplified straight line method over its 5-year depreciable life. Operating costs of the new machine are expected to be $1,100,000 per year. The existing assembly line has 5 years remaining before it will be fully depreciated and has a book value of $3,000,000. If sold today the company would receive $2,400,000 for the existing machine. Annual operating costs on the existing machine are $2,100,000 per year. Bull Gator is in the 46 percent marginal tax bracket and has a required rate of return of 12 percent. Calculate the net present value of replacing the existing machine. Note. Due to rounding and method of calculation, your answer might vary slightly. Choose the closest answer.
A. $816,000
B. $382,320
C. $2,941,680
D. $-382,320
9. A strong stock market and reasonably good earnings have caused the price of the firm's common stock to increase by 25%.
A. This will have no effect on the firm's cost of capital.
B. All things equal, this will increase the firm's cost of capital.
C. All things equal, this will lower the firm's cost of capital.
D. This will only affect the cost of capital if the firm uses CAPM to compute the cost of equity.
10. Buying and selling in more than one market to make a riskless profit is called
A. profit maximization
B. arbitrage
C. international trading
D. This cannot be determined from the above information.
11. The United States imposes substantial taxes on cigarettes but not on loose tobacco. When the tax on cigarettes went into effect, the demand for home cigarette rolling machines most likely
A. decreased, causing the price of cigarette rolling machines to fall and the quantity of machines purchased to fall
B. decreased, causing the price of cigarette rolling machines to rise and the quantity of machines purchased to fall
C. increased, causing the price of cigarette rolling machines to rise and the quantity of machines purchased to rise
D. increased, causing the price of cigarette rolling machines to rise and the quantity of machines purchased to fall
12. Keynes believed that an increase in savings would
A. raise aggregate demand by reducing investment
B. raise aggregate demand by increasing consumption
C. reduce aggregate demand by reducing investment
D. reduce aggregate demand by reducing consumption
13. Which of the following monetary policies reduces aggregate demand and output?
A. A cut in the federal funds rate
B. An open market purchase of government securities
C. An increase in the discount rate
D. A cut in the required reserve ratio
14. Deficits may be desirable in the short run if they
A. help to stabilize the economy when the economy falls below potential output
B. increase savings necessary for future investment and growth
C. increase savings necessary for future consumption and demand
D. help to stabilize the economy when the economy is above potential output
15. If for a country, the quantity of its currency demanded exceeds the quantity supplied, then there is a
A. balance of payments surplus
B. balance of payments deficit
C. balance of payments equilibrium
D. trade balance
16. Suppose that college tuition is higher this year than last year and that more students are enrolled in college this year than last year. Based on this information, we can best conclude that
A. the law of demand is invalid
B. despite the increase in price, quantity demanded rose due to some other factor changing
C. this situation has nothing to do with the law of demand
D. the demand for a college education is positively sloped
17. Economic efficiency is achieved at a particular output level if
A. marginal cost is as low as possible
B. average fixed cost is as low as possible
C. average total cost is as low as possible
D. average variable cost is as low as possible
18. A perfectly competitive firm will be profitable if price at the profit-maximizing quantity is above
A. MC
B. AVC
C. ATC
D. AFC
19. How are goods manufactured in other countries creating jobs in the United States?
A. People whose jobs were outsourced are now discouraged workers.
B. U.S. firms are specializing in managing the trade of these goods.
C. Foreign countries are importing U.S. natural resources
D. People who have lost jobs have more time to shop and therefore increase demand for good
A. focuses on sales
B. produces new products and services
C. creates a broad assortment of products
D. focuses on satisfying customers' needs
2. A company provides its advertising agency with a statement about a new product to use in designing an advertising campaign, and this statement includes a description of the target market, the product type, the primary benefits of using the product, and how this product is different from, and better than, competitive products. What type of statement is this?
A. Qualifying
B. Positioning
C. Determining
D. Clustering
3. The sales analysis of a product revealed that profits were highest when it was initially introduced into the market with a high selling price. However, the price was gradually reduced as it started facing competition as substitutes entered the market. This is an example of a(n)
A. introductory price dealing
B. temporary price cut policy
C. skimming price policy
D. penetration price policy
4. Blending the firm's promotion efforts to convey a complete and consistent message is the goal of
A. sales management communications
B. sales promotion communications
C. integrated promotional marketing
D. integrated marketing communications
5. According to the concept of social responsibility, a firm has a duty to
A. communicate regularly with the public
B. place profit above all other considerations
C. place customer satisfaction above all other considerations
D. conduct business in a way that is good for society as a whole, both now and for the
Future
6. The principal participants in the financial markets are
A. businesses, banks, and government
B. borrowers, savers, and financial institutions
C. mutual funds, hedge funds, and investment bankers
D. dealers, brokers, and regulators
7. You just purchased a parcel of land for $10,000. If you expect a 12% annual rate of return on your investment, how much will you sell the land for in 10 years? Note. Due to rounding and method of calculation, your answer might vary slightly. Choose the closest answer.
A. $25,000
B. $31,060
C. $38,720
D. $34,310
8. Bull Gator Industries is considering a new assembly line costing $6,000,000. The assembly line will be fully depreciated by the simplified straight line method over its 5-year depreciable life. Operating costs of the new machine are expected to be $1,100,000 per year. The existing assembly line has 5 years remaining before it will be fully depreciated and has a book value of $3,000,000. If sold today the company would receive $2,400,000 for the existing machine. Annual operating costs on the existing machine are $2,100,000 per year. Bull Gator is in the 46 percent marginal tax bracket and has a required rate of return of 12 percent. Calculate the net present value of replacing the existing machine. Note. Due to rounding and method of calculation, your answer might vary slightly. Choose the closest answer.
A. $816,000
B. $382,320
C. $2,941,680
D. $-382,320
9. A strong stock market and reasonably good earnings have caused the price of the firm's common stock to increase by 25%.
A. This will have no effect on the firm's cost of capital.
B. All things equal, this will increase the firm's cost of capital.
C. All things equal, this will lower the firm's cost of capital.
D. This will only affect the cost of capital if the firm uses CAPM to compute the cost of equity.
10. Buying and selling in more than one market to make a riskless profit is called
A. profit maximization
B. arbitrage
C. international trading
D. This cannot be determined from the above information.
11. The United States imposes substantial taxes on cigarettes but not on loose tobacco. When the tax on cigarettes went into effect, the demand for home cigarette rolling machines most likely
A. decreased, causing the price of cigarette rolling machines to fall and the quantity of machines purchased to fall
B. decreased, causing the price of cigarette rolling machines to rise and the quantity of machines purchased to fall
C. increased, causing the price of cigarette rolling machines to rise and the quantity of machines purchased to rise
D. increased, causing the price of cigarette rolling machines to rise and the quantity of machines purchased to fall
12. Keynes believed that an increase in savings would
A. raise aggregate demand by reducing investment
B. raise aggregate demand by increasing consumption
C. reduce aggregate demand by reducing investment
D. reduce aggregate demand by reducing consumption
13. Which of the following monetary policies reduces aggregate demand and output?
A. A cut in the federal funds rate
B. An open market purchase of government securities
C. An increase in the discount rate
D. A cut in the required reserve ratio
14. Deficits may be desirable in the short run if they
A. help to stabilize the economy when the economy falls below potential output
B. increase savings necessary for future investment and growth
C. increase savings necessary for future consumption and demand
D. help to stabilize the economy when the economy is above potential output
15. If for a country, the quantity of its currency demanded exceeds the quantity supplied, then there is a
A. balance of payments surplus
B. balance of payments deficit
C. balance of payments equilibrium
D. trade balance
16. Suppose that college tuition is higher this year than last year and that more students are enrolled in college this year than last year. Based on this information, we can best conclude that
A. the law of demand is invalid
B. despite the increase in price, quantity demanded rose due to some other factor changing
C. this situation has nothing to do with the law of demand
D. the demand for a college education is positively sloped
17. Economic efficiency is achieved at a particular output level if
A. marginal cost is as low as possible
B. average fixed cost is as low as possible
C. average total cost is as low as possible
D. average variable cost is as low as possible
18. A perfectly competitive firm will be profitable if price at the profit-maximizing quantity is above
A. MC
B. AVC
C. ATC
D. AFC
19. How are goods manufactured in other countries creating jobs in the United States?
A. People whose jobs were outsourced are now discouraged workers.
B. U.S. firms are specializing in managing the trade of these goods.
C. Foreign countries are importing U.S. natural resources
D. People who have lost jobs have more time to shop and therefore increase demand for good
|
Write a 1,400- to 1,750-word paper in which you explain the importance of innovation in your selected business's vision, mission, and values, and determine your business model for this new division. Include the following:
• Propose a new product or service for the new company division. The division should be customer-focused with an innovative mission statement. Ensure that you are differentiating your product or service.
• Describe how the division addresses customer needs and achieves competitive advantage.
• Create a vision and a business model for this new division that clearly demonstrates your decision on what you want your business to become in the future.
• Explain how the vision, mission, and value of the new division align with the company's mission and vision.
• Summarize how the vision, mission, and values guide the division's strategic direction.
• Define your guiding principles and values for your division in the context of culture, social responsibility, and ethics.
• Propose a new product or service for the new company division. The division should be customer-focused with an innovative mission statement. Ensure that you are differentiating your product or service.
• Describe how the division addresses customer needs and achieves competitive advantage.
• Create a vision and a business model for this new division that clearly demonstrates your decision on what you want your business to become in the future.
• Explain how the vision, mission, and value of the new division align with the company's mission and vision.
• Summarize how the vision, mission, and values guide the division's strategic direction.
• Define your guiding principles and values for your division in the context of culture, social responsibility, and ethics.
BUS475 Week-3 Final Exam 50 MCQs (Score 82%)
Question-1 Communication is the process of
transferring information and meaning.
listening actively.
writing messages.
talking constantly.
Question-2: Business communication is often more demanding than social communication because communication on the job is affected by
politics.
the growing reliance on teamwork in business.
personalities.
desire to always advance and move up in an organization.
Question-3 What are the benefits of using IM in business communication?
Less personal
Low cost
Ability to exclude those unable to use IM
To maintain a quiet work environment
Question-4: What are the three major steps in the writing process?
Plan, Write, and Complete
Plan, Construct, and Complete
Prepare, Write, and Complete
Prepare, Construct, and Stop
Question-5: What way can you build credibility with an audience when planning a persuasive message?
Use simple language.
Use difficult language.
Use descriptive language.
Use hostile language.
Question-6: What type of data visual would you use to illustrate trends over time?
Gantt chart
Bar graph
Line chart
Scatter diagrams
Question-7: How do you keep the audience's attention?
Use confusing language
Relate your subject to your audience's needs
Talk about yourself
Offer a reward
Question-8: What does quality of hire mean?
A measure of how a new employee is hired
How good an employee is at getting hired
On a 1–10 scale, the hire is a 10
A measure of how closely new employees meet the company's needs
Question-9 What is a subjective statement?
A statement involving a subject
A statement made true by someone thinking it is true
A statement that pertains to a chapter in a book
A statement that is fact
Question-10: An argument consists of two parts:
the fact and the rebuttal
the subject and the outcome
the premise and the conclusion
the point and the conclusion
Question-11: What are some rhetorical devices used in persuasive messages?
Syllogisms
Stereotypes
Memories
Biases
Question-12: __________ are part of the elements of creativity?
Domain skills
Thinking skills
Listening skills
Athletic skills
Question-13: Our most reliable source of information about the world is
our own observations.
cable news.
the Internet.
Facebook.
Question-14: The reliability of our observations is not better than the reliability of our ____________.
senses
family
memories
friends
Question-15: The following is an example of a moral value judgment:
As an actress, Paris Hilton has a nice clothes rack.
Keith Lewis must be a total flake.
The senator dresses well.
I don't deserve to be flunked for an honest mistake.
Question-16: Utilitarianism is
an act that will produce more happiness than will alternatives, it is the right thing to do, and if it will produce less happiness, it would be wrong to do.
an act that will produce less happiness than will alternatives, it is the right thing to do, and if it will produce more happiness, it would be wrong to do.
an act that will produce more happiness than will alternatives, it is the wrong thing to do, and if it will produce less happiness, it would be right to do.
an act that will produce less happiness than will alternatives, it is the wrong thing to do, and if it will produce less happiness, it would be right to do.
Question-17: One of the principal roles of the Judiciary is
to provide the other branches of government with legal counsel.
to issue common law writs.
to issue injunctions and related orders.
to resolve disputes.
Question-18: Business ethics may be defined as
taking an expedient approach to any business situation
doing what is most advantageous for the business
a consciousness of what is right or wrong in the workplace
minimizing decisions having potentially adverse consequences for business stakeholders
Question- 19: "Fair use" is a defense to copyright infringement that
requires findings by a court.
is non-statutory.
is absolute.
is available in all countries.
Question-20: A valid contract must
be entirely in writing
be signed by all parties
use the title "Contract" at the top of the document
exist where all necessary legal elements for contract formation are present
Question-21: Remedies for a contract breach may include
imprisonment and fines.
consequential damages.
no consideration of cost to the breaching party or parties.
punitive damages.
Question-22: Administrative law primarily stems from
the Executive Branch.
the Legislative Branch.
common law decisions of courts.
the Judicial Branch.
Question-23: The Administrative Procedures Act
applies to the Judiciary Branch.
provides for uniform procedural structures in regulatory agencies.
provides due process standards for the Judiciary Branch.
establishes regular order in congressional committees.
Question-24: A socially responsible company
is only concerned with shareholder value.
primarily seeks to enhance executive compensation.
constantly strives to reduce labor and material costs wherever possible.
is concerned with its economic and social value and environmental impact.
Question-25: Business environment pressures can come from which of the following?
Quality control
Cost reduction
Political changes
Management restructuring
Question-26: Which of the following is an ethical issue?
Sales tax formulas
Business Process Reengineering
Software coding
Accuracy Question Source
Question-27: In a relational database, the customer record contains information regarding the customer's last name. The last name is a(n):
primary key
relation
attribute
entity
Question-28: A standardized language used to manipulate data is
a data manipulation language.
Oracle.
Microsoft Access.
a structured query language.
Question-29: Which of the following is a wireless technology?
4 G applications
Communication between a modem and a router
Typical cable modem to router communication link
Fiber-optic connections
Question-30: A(n) _____________________ allows unauthorized entry into a wireless network.
lack of encryption
disgruntled employee
cloud server
rogue access point
Question-31: Critical to the systems development life cycle is
the identification of the time of year it is developed.
seeing what competitors provide.
the identification of the price charged to other customers.
knowing the customer's goals and objectives.
Question-32: One of the advantages of a server farm is that
servers can be stacked on top of one another, so less space is needed.
servers last longer in a server farm.
if one server fails, an application can be automatically moved to another one.
more people are required to maintain servers in a server farm.
Question-33: In the managerial function of __________, managers encourage and motivate workers to work toward organizational goals.
leading
organizing
planning
controlling
Question-34: Personality within an individual typically evolves ________.
relatively quickly
when an individual changes jobs
over approximately 25 years
at no point during a lifetime
Question-35: Laura has dreamed of playing in a symphony. She practices her instrument every day and yet, year after year, she cannot successfully play the difficult musical piece necessary to try out. This is an example of
vicarious learning being of upmost importance.
motivation being the main factor in performance.
extrinsic motivation outweighing intrinsic motivation.
motivation not equaling performance.
Question-36: Research on the five-stage model of group development shows that
all groups pass through the norming stage.
groups always pass through the stages in order.
not all groups go through each of the stages.
all groups pass through the adjourning stage.
Question-37: Brenda Butler, editor of the Republican, is trying to decide whether to take a job at a much larger newspaper or to become the CEO and publisher of the Republican. Brenda has to make this decision because of ________.
a threat
an opportunity
a problem
bounded rationality
Question-38: Transactional leaders motivate followers by
exchanging rewards for good performance.
inducing followers to support their vision.
overlooking mistakes or substandard performance.
inspiring them with charismatic behavior
Question-39: During an organizational confrontation meeting, __________ meet to confront the issue of whether the organization is effectively meeting its goals.
employees from all organizational levels
all of the managers of the organization
external and internal change agents
members of the top management team
Question-40: The __________ as the number of levels in the organizational hierarchy increases.
span of control narrows
span of control expands
scope of influence narrows
scope of influence expands
Question-41: Suppose that at the current price consumers would like to purchase 10 million large-screen televisions and 15 million are available. When the market coordinates the demand and supply for large-screen televisions, the price of large-screen televisions will _______________.
rise
fall
stay the same
be fixed by government
Question-42: The reason economists and accountants have problems using cost analysis in the real world is that
economists do not believe in the existence of explicit costs.
although implicit costs do not show up in accounting profits, they nevertheless affect managerial decisions.
although explicit costs do not show up in accounting profits, they nevertheless affect managerial decisions.
explicit costs cannot be measured.
Question-43: Refer to the graph shown. With efficient production, this firm can maximize production at what point?
A
B
C
D
Question-44: eBay.com is a vast auction site that is similar to a competitive market in some ways but differs from it in others. Which of the following describes how eBay resembles a competitive market?
It is easy to enter and easy to leave eBay.
Sellers sometimes do not describe the products accurately on eBay.
There is a great variety of different products sold on eBay.
On eBay the large sellers dominate the market.
Question-45: From the point of view of consumer surplus and producer surplus, what problem was created when Thailand subsidized the cost of energy to consumers to help alleviate the burden of higher energy costs?
It hurt the poor and benefitted the rich.
It led to less fuel being used than the amount that maximizes consumer surplus.
It encouraged the consumption of too much fuel at the expense of other goods.
It has no effect; consumers gained consumer surplus, but taxpayers lost the same amount because they had to finance the subsidy.
Question-46: A nation's comparative advantage in the production of an item is determined by
which country has already specialized in the production of the item.
the total and marginal costs of producing the item.
the opportunity cost of producing the item relative to a trading partner's opportunity cost.
wage rates and other input costs.
Question-47: Which of the following groups would be most likely to benefit from a tariff on Japanese-manufactured light trucks (i.e., pickup trucks)?
U.S. domestic pickup truck manufacturers
Japanese auto workers
U.S. consumers of pickup trucks
U.S. firms that export products to Japan
Question-48: Why do some stores offer senior citizen discounts on Tuesdays?
Most stores are perfect competitors in their geographic region.
Senior citizens have perfectly inelastic demand curves, whereas other shoppers do not.
Senior citizens have more elastic demand schedules than do other shoppers.
Senior citizens have less elastic demand schedules than do other shoppers.
Question-49: Aggregate demand management policies are designed most directly to
minimize unemployment
minimize inflation
control the aggregate level of spending in the economy
prevent budget deficits or surpluses
Question-50: According to Keynes, why might deflation create problems for an economy?
Consumers might expect prices to fall further and cut back consumption now.
In expectation of increased spending, too many entrepreneurs would begin businesses and most would fail.
The cost of repricing goods would increase costs, and therefore reduce profits, for businesses and they would cut production.
People would invest less into the economy.
BUS475 Week-3 Assignment SWOTT Analysis
Create a SWOTT table summarizing your findings. Your environmental analysis should consider, at a minimum, the following factors. For each factor, identify the one primary strength, weakness, opportunity, threat, and trend, and include it in your table.
• External forces and trends considerations:
o Legal and regulatory
o Global
o Economic
o Technological
o Innovation
o Social
o Environmental
o Competitive analysis
• Internal forces and trends considerations:
o Strategy
o Structures
o Processes and systems
o Resources
o Goals
o Strategic capabilities
o Culture
o Technologies
o Innovations
o Intellectual property
o Leadership
Write a synopsis of no more than 1,050 words in which you analyze relevant forces and trends from the list above. Your analysis must include the following:
• Include economic and legal and regulatory forces and trends.
• Critique how well the organization adapts to change.
• Analyze and explain the supply chain of the new division of the existing business. Share your plans to develop and leverage core competencies and resources within the supply chain in an effort to make a positive impact on the business model and the various stakeholders.
• Identify issues and/or opportunities:
o Identify the major issues and/or opportunities that the company faces based on your analysis.
o Generate a hypothesis surrounding each issue and research questions to use for conducting analysis.
o Identify the circumstances surrounding each issue; classify the circumstances; attribute the importance of each classification; and test the accuracy of the importance for each classification.
BUSINESS: CARIBBEAN RESTAURANT
• External forces and trends considerations:
o Legal and regulatory
o Global
o Economic
o Technological
o Innovation
o Social
o Environmental
o Competitive analysis
• Internal forces and trends considerations:
o Strategy
o Structures
o Processes and systems
o Resources
o Goals
o Strategic capabilities
o Culture
o Technologies
o Innovations
o Intellectual property
o Leadership
Write a synopsis of no more than 1,050 words in which you analyze relevant forces and trends from the list above. Your analysis must include the following:
• Include economic and legal and regulatory forces and trends.
• Critique how well the organization adapts to change.
• Analyze and explain the supply chain of the new division of the existing business. Share your plans to develop and leverage core competencies and resources within the supply chain in an effort to make a positive impact on the business model and the various stakeholders.
• Identify issues and/or opportunities:
o Identify the major issues and/or opportunities that the company faces based on your analysis.
o Generate a hypothesis surrounding each issue and research questions to use for conducting analysis.
o Identify the circumstances surrounding each issue; classify the circumstances; attribute the importance of each classification; and test the accuracy of the importance for each classification.
BUSINESS: CARIBBEAN RESTAURANT
BUS475 Week-4 Knowledge check (Score:100%)
1. A fast-food restaurant asks customers to evaluate the drive-thru service as good, average, or poor. What level of data measurement is this classification?
- Nominal
- Ordinal
- Interval
- Ratio
2. In order to determine the average amount spent in November on Amazon.com a random sample of 144 Amazon accounts were selected. The sample mean amount spent in November was $250 with a standard deviation of $25. Assuming that the population standard deviation is unknown, what is a 95% confidence interval for the population mean amount spent on Amazon.com in November?
- ($245.88, $254.12)
- ($247.47, $260.09)
- ($250.64, $256.92)
- ($251.34, $256.22)
3. A shipment of 20 DVDs has arrived at a video rental store. Based on past experience, the manager knows that 10% of all new DVDs sent to the store have a visible defect. The manager tells you to begin inspecting the new DVDs one at a time at random until you find the first DVD that has a defect. If 10% of the DVDs have a visible defect in the new shipment, what is the probability that the first DVD that has a defect is the 3rd one that you inspect? (Round your answer to 3 decimal places.)
- .081
- .268
- .089
- .716
4. An insurance agent has selected a sample of drivers that she insures whose ages are in the range from 16–42 years old. For each driver, she records the age of the driver and the dollar amount of claims that the driver filed in the previous 12 months. A scatterplot showing the dollar amount of claims as the response variable and the age as the predictor shows a linear regression line with: y^=3710 – 55.4x. If the age of a driver increases by 1 year, by how much and in what direction would the dollar amount of claims be predicted to change for the driver?
- Increase by 55.4 dollars
- Decrease by 55.4 dollars
- Increase by 3710 dollars
- Increase by 3,654.6 dollars
5. A researcher claims that the proportion of employees who play video games in the workplace is higher than it was 10 years ago. You might be willing to reject the null hypothesis of no change with a = 0.10 or larger. The p-value for this test is 0.15. In this case the researcher should
- not reject the null hypothesis
- reject the null hypothesis
- continue with further testing because the result is inconclusive
- change the testing from nonparametric to parametric
6. The general plan of major actions through which a firm intends to achieve is long-term objectives is called its
- corporate plan
- long-term goal
- grand strategy
- mission
7. How valuable a low-cost leader's cost advantage is depends on
- whether it is easy or inexpensive for rivals to copy the low-cost leader's methods or otherwise match its low costs
- how easy it is for the low-cost leader to gain the biggest market share
- the aggressiveness with which the low-cost leader pursues converting the cost advantage into the absolute lowest possible costs
- the leader's ability to combine the cost advantage with a reputation for good quality
8. Which of the following represent marketing capabilities at the growth stage of industry evolution?
- Skills in aggressively promoting products to new markets and holding existing markets and pricing flexibility
- Ability to establish brand recognition, find niche, reduce price, solidity strong distribution relations and develop new channels
- Cost effective means of efficient access to selected channels and markets and strong customer loyalty or dependence
- Resources or skills to create widespread awareness and find acceptance from customers; advantageous access to distribution
9. __________ is an organization structured around the idea of sharing knowledge, seeking knowledge, and creating opportunities to create new knowledge.
- A global company
- A modular organization
- An ambidextrous organization
- A learning organization
10. Which of the following types of strategic control has a low degree of formalization?
- Special alert control
- Implementation control
- Strategic surveillance
- Premise control
11. Investors and creditors are particularly interested in this financial statement because it tells them what is happening to the company's most important resource?
- Statement of cash flows
- Income statement
- Retained earnings statement
- Balance sheet
12. The cash basis of accounting is prohibited under GAAP for the following reason:
- It divides the economic life of a business into artificial time frames.
- It violates the revenue recognition principle and the expense recognition principle.
- It fails to provide for adjusting entries.
- It records revenues only in the time period in which they are received.
13. Use the following data to determine the total dollar amount of assets to be classified as property, plant, and equipment. Eddy Auto Supplies Balance Sheet December 31, 2014 Cash $84,000 Accounts payable $110,000 Accounts receivable $80,000 Salaries and wages payable $20,000 Inventory $140,000 Mortgage payable $180,000 Prepaid insurance $60,000 Total liabilities $310,000 Stock investments $170,000 Land $190,000 Buildings $226,000 Common stock $240,000 Less: Accumulated Retained earnings $500,000 depreciation ($40,000) $186,000 Total stockholders' equity $740,000 Trademarks $140,000 Total liabilities and Total assets $1,050,000 Stockholders' equity $1,050,000
- $686,000
- $516,000
- $556,000
- $376,000
14. The manager of Weiser is given a bonus based on net income before taxes. The net income after taxes is $35,700 for FIFO and $29,400 for LIFO. The tax rate is 30%. The bonus rate is 20%. How much higher is the manager's bonus if FIFO is adopted instead of LIFO?
- $9,000
- $12,600
- $1,800
- $6,300
15. The Sarbanes–Oxley Act of 2002 requires publicly traded U.S. companies to take the following actions to defect and prevent fraud:
- Adopt accrual basis of accounting, maintain an adequate system of internal controls, and create penalties for noncompliance
- Maintain an adequate system of internal controls, ensure that internal controls are reliable and effective, and hire independent auditors to attest adequacy of internal controls
- Ensure internal controls are reliable and effective, corporate executives must independently review internal controls, and submit all financial statements to the Public
- Company Accounting Oversight Board
- Maintain an adequate system of internal controls, provide additional training to managers and accountants regarding internal controls, and publish internal controls on the company's public website
16. On July 1, 2014, Linden Company purchased the copyright to Norman Computer Tutorials for $140,000. It is estimated that the copyright will have a useful life of 5 years. The amount of amortization expense recognized for the year 2014 would be
- $28,000
- $13,125
- $25,900
- $14,000
17.ABC Corp. receives a 7-month interest-bearing promissory note in the amount of $360,000 on February 1. The interest rate is 15%. What is the total interest expense ABC Corp will record assuming ABC makes all of its payments?
- $54,000
- $31,500
- $4,500
- $36,000
18. Logan Corporation issues 50,000 shares of $50 par value preferred stock for cash at $60 per share. The entry to record the transaction will consist of a debit to cash for $3,000,000 and a credit or credits to
- preferred stock of $3,000,000
- preferred stock for $2,500,000 and paid-in capital in excess of par value—preferred stock for $500,000
- preferred stock for $2,500,000 and retained earnings for $500,000
- paid-in capital from preferred stock for $3,000,000
19. Which of the following tools of analysis is used to evaluate financial statement information by expressing financial statement data as a percentage over a base amount?
- Vertical analysis
- Horizontal analysis
- Ratio analysis
- Industry averages
20.The Sarbanes–Oxley Act of 2002 requires publically-traded U.S. companies to provide great internal controls. The five primary components of an internal control system include: a control environment, risk assessment, information and communication, monitoring, and
- Establishment of responsibility
- Segregation of duties
- Control activities
- Human resource controls
BUS475 Week-4 Assignment
Balanced Scorecard Assignment
Develop the strategic objectives for your business in the format of a Balanced Scorecard. The strategic objectives are measures of attaining your vision and mission. As you develop them consider the vision, mission, and values for your business and the outcomes of your SWOTT analysis. Be sure to consider all of the following four quadrants of the Balanced Scorecard when developing your strategic objectives:
Shareholder Value or Financial Perspective, includes strategic objectives in areas such as:
Market share
Revenues and costs
Profitability
Competitive position
Customer Value Perspective, includes strategic objectives in areas such as:
Customer retention or turnover
Customer satisfaction
Customer value
Process or Internal Operations Perspective, includes strategic objectives in areas such as:
Measure of process performance
Productivity or productivity improvement
Operations metrics
Learning and Growth (Employee) Perspective, includes strategic objectives in areas such as:
Employee satisfaction
Employee turnover or retention
Level of organization capability
Nature of organization culture or climate
Technological innovation
•Develop at least two strategic objectives for each of the following four balanced scorecard areas identified above (Financial, Customer, Process, Learning and Growth). Your objectives should be selected, in part, based on an evaluation of a number of potential alternatives to the issues and/or opportunities identified in the SWOTT Analysis paper and table you completed last Week. Base your solutions on a ranking of alternative solutions that includes an identification of potential risks and mitigation plans, and a stakeholder analysis that includes mitigation and contingency strategies. You should also incorporate the ethical implications of your solutions into your selection.
•For each strategic objective, develop a metric and target using a balanced scorecard format. (For example, a strategic objective in the shareholder or Financial Perspective is to increase market share. A metric to actually measure this strategic objective of market share increase is, "The percentage of increase in market share." The target is the specific number to be achieved in a particular time period. The target for the metric of "Increase market share" could be "Increase market share by 2% for each of the next 3 years" of an increase of 2% per year for 3 years.)
Outline a brief communication plan discussing how you will communicate the company's strategic objectives that includes the following:
• Define the purpose.
• Define the audience.
• Identify the channel(s) of communication and why you selected that channel.
Write a 1,050- to 1,400-word strategic objectives summary. Include your balanced scorecard and its impact on all stakeholders, and the communication plan.
Business: Caribbean restaurant
Develop the strategic objectives for your business in the format of a Balanced Scorecard. The strategic objectives are measures of attaining your vision and mission. As you develop them consider the vision, mission, and values for your business and the outcomes of your SWOTT analysis. Be sure to consider all of the following four quadrants of the Balanced Scorecard when developing your strategic objectives:
Shareholder Value or Financial Perspective, includes strategic objectives in areas such as:
Market share
Revenues and costs
Profitability
Competitive position
Customer Value Perspective, includes strategic objectives in areas such as:
Customer retention or turnover
Customer satisfaction
Customer value
Process or Internal Operations Perspective, includes strategic objectives in areas such as:
Measure of process performance
Productivity or productivity improvement
Operations metrics
Learning and Growth (Employee) Perspective, includes strategic objectives in areas such as:
Employee satisfaction
Employee turnover or retention
Level of organization capability
Nature of organization culture or climate
Technological innovation
•Develop at least two strategic objectives for each of the following four balanced scorecard areas identified above (Financial, Customer, Process, Learning and Growth). Your objectives should be selected, in part, based on an evaluation of a number of potential alternatives to the issues and/or opportunities identified in the SWOTT Analysis paper and table you completed last Week. Base your solutions on a ranking of alternative solutions that includes an identification of potential risks and mitigation plans, and a stakeholder analysis that includes mitigation and contingency strategies. You should also incorporate the ethical implications of your solutions into your selection.
•For each strategic objective, develop a metric and target using a balanced scorecard format. (For example, a strategic objective in the shareholder or Financial Perspective is to increase market share. A metric to actually measure this strategic objective of market share increase is, "The percentage of increase in market share." The target is the specific number to be achieved in a particular time period. The target for the metric of "Increase market share" could be "Increase market share by 2% for each of the next 3 years" of an increase of 2% per year for 3 years.)
Outline a brief communication plan discussing how you will communicate the company's strategic objectives that includes the following:
• Define the purpose.
• Define the audience.
• Identify the channel(s) of communication and why you selected that channel.
Write a 1,050- to 1,400-word strategic objectives summary. Include your balanced scorecard and its impact on all stakeholders, and the communication plan.
Business: Caribbean restaurant
BUS475 Week-5 Final Part-2 Score 86%
Q1. To decrease the nation's money supply, the Fed can
increase reserve requirement.
decrease reserve requirements.
decrease the discount rate.
buy government securities in the open market.
Q2. In the long-run framework, budget surpluses
should be run whenever output dips below potential output.
should never be run since they crowd out investment in the short run.
are better than budget deficits over the long run because unlike budget deficits, they increase saving and investment.
should be run on a permanent basis since they boost saving and investment and stimulate economic growth.
Q3. Which of the following will decrease the nominal deficit?
An increase in taxes
An increase in government expenditures
An increase in interest rates
An increase in the debt
Q4. If a country's trade deficit increases, then
its consumption must be falling relative to its production.
its consumption must be rising relative to its production.
it must be buying more assets from foreigners.
it must be selling fewer assets to foreigners.
Q5. Which of the following statements best describes the modern view of marketing?
Marketing is only necessary for profit-oriented firms.
Marketing consists mainly of advertising and personal selling.
Marketing anticipates customer needs.
Marketing begins as soon as products are produced.
Q6. Ethnic markets are becoming more important to marketers because
the buying power of ethnic submarkets is decreasing.
the median age of Asian, African, and Hispanic Americans is much higher than that of White Americans.
the number of ethnic consumers is growing at a much faster rate than the overall society
they make a clear segment with similar backgrounds and common language, religion, and culture.
Q7. Segmenting, in contrast to combining,
tends to focus more on customer similarities than on differences.
tries to identify homogeneous submarkets and develop different marketing mixes for each submarket.
usually means settling for a smaller sales potential.
relies more on promotion appeals and minor product differences to create general customer appeal among several submarkets.
Q8. Cargill, Inc. is finally earning a profit on the unique product it introduced 6 months ago. Cargill's advertising is both informative and persuasive. Much money is being spent on place development. There is little price competition, although several competitors have come out with reasonable imitations. Total industry sales and profits are both rising. In which stage of the product life cycle is Cargill operating?
Market growth
Market introduction
Sales decline
Market maturity
Q9. National Printing Equipment (NPE) produces equipment that helps to print newspapers and magazines. The company sells directly to printers and through wholesalers. Its salespeople negotiate prices with individual customers and often have to match competitors' prices. NPE has a new product, the Gutenberg NP201, with some competitive advantages now, but competitors are expected to follow quickly with similar products. The new product is being introduced into a market with elastic demand. In regard to freight charges for its equipment, NPE's invoice reads, "Seller pays the cost of loading equipment onto a common carrier. At the point of loading, title to such products passes to the buyer, who assumes responsibility for damage in transit, except as covered by the transportation agency."
National Printing Equipment's new Gutenberg NP201 should probably use ________________.
price fixing
skimming pricing
introductory pricing
penetration pricing
Q10. The main reason that vertical marketing systems are becoming more common is that
firms realize that working independently has advantages for channel members.
firms increasingly understand that competition among channel members is profitable.
it is easy for multiple firms to coordinate a single marketing mix for a common target market.
firms recognize that coordination among channel members can increase sales for each channel member
Q11. __________ is the intentional coordination of every communication from a firm to a target customer to convey a consistent and complete message.
Integrated marketing communications
Online marketing
Digital marketing
Product positioning
Q12. Which of the following statements about ethical behavior in business is true?
The legal environment sets the highest standards of ethical behavior.
The legal environment sets the maximum standards of ethical behavior.
The legal environment sets the minimum standards of ethical behavior.
The legal environment sets the normative standards of ethical behavior.
Q13. Which of the following financial instruments entails the most risk and potentially the highest returns for investors?
Debt with a maturity of less than 1 year
Bonds
Common stock
Preferred stock
Q14. The Oviedo Thespians are planning to present performances of their Florida Revue on two consecutive nights in January. It will cost them $5,000 per night for theater rental, event insurance, and professional musicians. The theater will also take 10% of gross ticket sales. How many tickets must they sell at $10.00 per ticket to break even?
1000 tickets
1,112 tickets
1,223 tickets
There is not enough information.
Q15. What is the present value of $12,500 to be received 10 years from today? Assume a discount rate of 8% compounded annually and round to the nearest $10.
$5,790
$11,574
$9,210
$17,010
Q16. P. Noel's Inc.'s current ratio is 2. Current liabilities are $500,000. P. Noel's current assets equal __________ and net working capital is __________.
$500,000 and $1,000,000
$500,000 and $250,000
$1,000,000 and $500,000
$500,000 and $500,000
Q17. Woodstock Inc. expects to own a building for 5 years, and then sell it for $1,500,000 net of taxes, sales commissions, and other selling costs. Woodstock's cost of capital is 11%. How much will the sale of the building contribute to the NPV of the project?
$890,177
$1,351,351
$1,500,000
$2,527,587
Q18. Metals Corp. has $2,575,000 of debt, $550,000 of preferred stock, and $18,125,000 of common equity. Metals Corp.'s after-tax cost of debt is 5.25%, preferred stock has a cost of 6.35%, and newly issued common stock has a cost of 14.05%. What is Metals Corp.'s weighted average cost of capital?
12.78%
10.84%
8.32%
6.56%
Q19. Which of the following is the most important factor that affects a firm's financing mix?
The amount of EPS
The amount of operating income
The number of shares that are outstanding
The predictability of cash flows
Q20. One reason for international investment is that
the economies of many countries are growing faster than that of the U.S.
price-earnings (P/E) ratios are higher in foreign countries
doing business in foreign countries is simpler than in the U.S.
raw materials are typically cheaper in other countries than in the U.S.
Q21. H&R Block wants to analyze its clients' tax returns over the past 10 years for each of the client's tax filings. The type of data generated will be ______________.
time series data
cross-sectional data
observation data
meta data
Q22. Suppose Stock A has had a mean price of $6.58 per share with a standard deviation of $1.88, while Stock B has had a mean price of $10.57 per share with a standard deviation of $3.02. Which stock shows a higher coefficient of variation or volatility?
Stock A
Stock B
Both stocks have the same coefficient of variation.
The coefficients are incomparable.
Q23. A random sample of 81 team leaders and supervisors from Fortune 500 companies revealed that on average a person spent 6.5 years on the job before being promoted. The standard deviation of the sample was 1.7 years. Assuming that the population standard deviation is unknown, the 99% confidence interval within which the population mean lies is approximately between ___________ and _________years.
6 and 7
5.5 and 6.5
5.5 and 7.5
5.5 and 6.5
Q24. The appropriate alternative hypothesis for a two-tail test to determine if mean body weight of all the men who have joined a health club is the same as 185 pounds would be
Ho: μ = 185 lbs.
Ho: μ > 185 lbs.
Ho: μ ≤ 185 lbs.
Ho: μ ≠ 185 lbs.
Q25. A survey of 134 cell phone users yielded the data found in the table below. The table compares gender and type of phone.
iPhone
|
Non-iPhone
|
Total
| |
Male
|
57
|
23
|
80
|
Female
|
36
|
18
|
54
|
Total
|
93
|
41
|
134
|
If a customer is randomly selected based on this survey data, what is the probability that the customer is a female with an iPhone? (Round your answer to 3 decimal places).
0.481
0.333
0.387
0.269
Q26. A correlation value of r = 0.5 between the x-variable and y-variable means
there is no relationship between x and y.
there is a strong positive linear relationship between x and y.
there is a moderate positive linear relationship between x and y.
there is no linear relationship between x and y.
Q27. When predicting grade point average from the number of hours spent studying per week, the equation for the best fit line was found to be yˆ = 0.0855x + 0.944. What is the predicted grade point average of a student that studies 26 hours per week?
24.63
3.17
2.99
25
Q28. A distribution center for a chain of electronics supply stores fills and ships orders to retail outlets. A random sample of orders is selected as they are received and the dollar amount of the order (in thousands of dollars) is recorded, and then the time (in hours) required to fill the order and have it ready for shipping is determined. A scatterplot showing the times as the response variable and the dollar amounts (in thousands of dollars) as the predictor shows a linear trend. The least squares regression line is determined to be: yˆ= 0.76 +1.8x. A plot of the residuals versus the dollar amounts showed no pattern, and the following values were reported: Correlation r + 0.90; R 2 = 0.81; standard deviation of the residuals is 0.48. What percentage of the variation in the times required to prepare an order for shipping is accounted for by the fitted line?
76%
48%
81%
90%
Q29. Which of the four basic financial statements adds net income and subtracts dividends to arrive at its key data element at the end of each period?
Statement of Cash Flows
Balance Statement
Retained Earnings Statement
Income Statement
Q30. What principle dictates that efforts (expenses) be recorded with results (revenues)?
Expense recognition principle
Cost principle
Periodicity principle
Revenue recognition principle
Q31. When an accountant makes an adjusting entry for accrued expenses, which statement best reflects what the accounts look like before the adjustment?
Assets overstated; expenses understated
Liabilities overstated; revenues understated
Assets understated; revenues understated
Expenses understated; liabilities understated
Q32. Which account will have a zero balance after a company has journalized and posted closing entries?
Service Revenue
Supplies
Prepaid Insurance
Accumulated Depreciation
Q33. If XYZ Co. had 100 units of beginning inventory valued at $15 per unit in January, purchased an additional 100 units of inventory in February at $16 per unit, and additional 100 units of inventory in May at $19 per unit, what would the unit cost of ending inventory be under each of the three inventory methods (assuming that XYZ only sold 79 units during this time frame)?
$19 under FIFO, $15 under LIFO, $17 under average cost
$15 under FIFO, $19 under LIFO, $17 under average cost
$19 under FIFO, $15 under LIFO, $16.6 under average cost
$15 under FIFO, $19 under LIFO, $16.6 under average cost
Q34. Mitch Company's ending inventory is understated by $4,000. The effects of this error on the current year's cost of goods sold and net income, respectively, are
understated and overstated.
overstated and understated.
overstated and overstated.
understated and understated.
Q35. Internal control is used in a business to enhance the accuracy and reliability of its accounting records and to
safeguard its assets.
create a system of audit review.
analyze financial statements.
protect investments by the public.
Q36. Under the percentage of receivables method, the allowance for a doubtful accounts balance will occasionally have a debit balance due to write-offs that occur during the year, which exceed the previous provisions for bad debts. In such cases, what must a company do to this account?
Allow the debit balance to carry over to future periods.
Make an adjusting entry by subtracting the debit balance from the required balance.
Make an adjusting entry by adding the debit balance to the required balance.
Create a second allowance for doubtful accounts balance with a credit balance.
Q37. Penn Corp. acquired a truck to haul widgets between its manufacturing facility and its sales offices. Penn acquired the truck for $55,000. Penn sold the truck years later for $15,000. Before the year of the sale, Penn had depreciated the asset by $32,000. Penn depreciated the truck by another $2,000 during the year it was sold. Does Penn record gain or loss on the sale and how much?
Loss of $17,000
Loss of $19,000
Gain of $8,000
Gain of $6,000
Q38. In what situations are notes payable used in lieu of accounts payable?
To give the lender formal proof of the obligation, for collection of debt purposes, and to require the borrower to pay interest
To provide short-term financing, for collection of debt purposes, and to pay off the debt quicker
To create better credit, incur liability over a shorter time frame, and acquire additional financing for different lines of business
Because other financing is not available, to facilitate business relationship with other companies, and to improve goodwill
Q39. In the stockholders equity section of the balance sheet, the cost of treasure stock is deducted from the following:
Total paid-in capital and retained earnings
Retained earnings
Total stockholders' equity
Common stock in paid-in capital
Q40. To arrive at net cash provided by operating activities, the statement of cash flows prepared by the indirect method starts with net income and then adds or deducts various items. In making this calculation, the following items are added to net income under the indirect method:
Depreciation expense, gain on the sale of plant assets, and increase in current liability account
Patent amortization expense, increase in current asset account, and decease in current asset account
Depletion expense, loss on the sale of plant assets, and patent amortization expense
Gain on the sale of plant asset, increate in current asset account, and decrease in current liability account
Q41. In horizontal analysis, each item is expressed as a percentage of the following:
Stockholders' equity amount
Total assets amount
Base year amount
Net income amount
Q42. The following is an example of an unethical action committed by ABC, Inc.'s accountant, Fred Anderson.
Anderson's supervisor asks him to inflate income for the current period to make the company appear more profitable.
Anderson's recording of amortization is audited by an independent auditor.
Anderson records income using the cash basis of accounting, contrary to GAAP.
Anderson causes $200 in ABC, Inc. merchandise to be shipped to him for free.
Q43. Strategic management involves the _________, directing, _________ and controlling of a company's strategy-related decisions and actions.
financing; marketing
planning; financing
marketing; planning
planning; organizing
Q44. The DMAIC (define, measure, analyze, improve, control) process is relevant to
CCC21.
balanced scorecard.
strategic matrix analysis.
Six Sigma.
Q45. Identifying and assessing a company's resource strengths and weaknesses and its external opportunities and threats is called a __________________.
SWOT analysis
competitive asset/liability analysis
competitive positioning analysis
strategic resource assessment
Q46. The market opportunities most relevant to a particular company are those that
offer the best growth and profitability.
provide a strong defense against threats to the company's profitability..
hold the most potential for product innovation.
provide avenues for taking market share away from close rivals.
Q47. Organizational requirements to support and sustain cost leadership are
subjective measurements and incentives.
tradition of closeness to key customers.
frequent, detained control reports.
some personnel skilled in sales and operations.
Q48. Organizational requirements to support and sustain differentiation activities include which of the following:
frequent, detailed control reports
structured organization and responsibilities
tradition of closeness to key customers
incentives based on meeting strict, quantitative targets
Q49. A __________ is an articulation of a simple criterion or characterization of what the leader sees the company must become to establish and sustain global leadership.
leader's principle
mission
leader's vision
strategic intent
Q50. The overriding goal of a control system is to enable the __________ and __________ of the business.
improvement, diversification
process, development
survival, long-term success
invention, entrepreneurship
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Write a 700- to 1,050-word section for your business model and strategic plan in which you add your strategies and tactics to implement and realize your objectives, measures, and targets.
Include marketing and information technology strategies and tactics.
Develop at least three methods to monitor and control your proposed strategic plan, being sure to analyze how the measures will advance organizational goals financially and operationally.
Explain the ethical issues faced by the organization, summarize the legal and regulatory issues faced by the organization, and then summarize the organization's corporate social responsibility.
Include marketing and information technology strategies and tactics.
Develop at least three methods to monitor and control your proposed strategic plan, being sure to analyze how the measures will advance organizational goals financially and operationally.
Explain the ethical issues faced by the organization, summarize the legal and regulatory issues faced by the organization, and then summarize the organization's corporate social responsibility.
Develop a 350-word page executive summary defining the new division of existing business. Share your Vision, Mission, final business model, value proposition and list your key assumptions, risks, and change management issues. Quantify the growth and profit opportunity and planned impact on various stakeholders.
Note: Any investor should be eager to meet with you after reading your executive summary.
Using the University of Phoenix Material: Business Model and Strategic Planning Outline as a guide, combine Parts 1, 2, and 3 of your completed business model strategic plan with your Final Business Plan Model assignment and Executive Summary. This includes the Business Model, Vision, Mission, Values, SWOTT Analysis, Supply Chain Analysis, Balanced Scorecard, and Communication Plan from prior weeks. Your consolidated final strategic plan should be 4,200 to 5,250 words in length.
Using the University of Phoenix Material: Business Model and Strategic Planning Outline as a guide, combine Parts 1, 2, and 3 of your completed business model strategic plan with your Final Business Plan Model assignment and Executive Summary. This includes the Business Model, Vision, Mission, Values, SWOTT Analysis, Supply Chain Analysis, Balanced Scorecard, and Communication Plan from prior weeks. Your consolidated final strategic plan should be 4,200 to 5,250 words in length.
