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BUS 475 CAPSTONE FINAL EXAMINATION PART 1
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BUS 475 Capstone Final Examination Part 1 -
1. Article 6 of the Treaty on European Union, called the Maastricht Treaty, states the EU is “founded” on:
· specific performance
· stare decisis
· private markets
· rule of law
2. Which of the following is the path through which contractionary monetary policy works?
· Money down implies interest rate up implies investment up implies income down
· Money down implies interest rate up implies investment down implies income down
· Money down implies interest rate down implies investment down implies income down
· Money down implies interest rate down implies investment up implies income down
3. Marketing research refers to__________.
· the use of information technology to find objective solutions to a marketing problem
· the process of systematically collecting and analyzing information in order to define a marketing problem
· the process of defining a marketing problem and opportunity, systematically collecting and analyzing information, and recommending actions
· the science of using observable human behavior in order to identify and solve marketing problems
4. _____ is the process of converting meaning into messages composed of words and nonverbal signals.
· Translating
· Decoding
· Encoding
· Filtering
5. Sam, a marketing manager, often makes ethical decisions based on what others feel about those decisions. He often considers opinions from other managers and employees. Which of the following ethical systems do Sam’s decisions follow?
· Consequentialism
· Utilitarianism
· Relativism
· Egoism
6. The depreciation of currency will:
· improve a country’s comparative advantage.
· worsen a country’s comparative advantage.
· balance a trade surplus.
· have no impact on a country’s comparative advantage.
7. Which of the following is typically included in the drafting stage of writing an effective business message?
· Setting a positive and other-oriented tone
· Sending the message to be proofread
· Double-checking everything
· Identifying the primary message and key points
8. If a population is known to be normally distributed, what can be said of the sample distribution of the sample mean drawn from this population?
· For a sample size n < 30, the sampling distribution of the sample mean is normally distributed.
· For a sample size n > 30, the sampling distribution of the sample mean is normally distributed.
· For any sample size n, the sampling distribution of the sample mean is normally distributed.
· For a sample size n < 50, the sampling distribution of the sample mean is normally distributed.
9. Marketing refers to__________.
· the activity for creating, communicating, delivering, and exchanging offerings that benefit its customers, the organization, its stakeholders, and society at large
· the process of identifying target market segments for a product or service
· the activity involved in getting a product or service from the manufacturer to ultimate consumers and organizational buyers
· the production of products or services that will generate the highest return on investment
10. Lori is using secondary research to develop a business report. How can she write her report in a way that demonstrates originality in thought?
· Cite all her research sources
· Use the most current documentation guidelines
· Generate her own conclusions and recommendations
· Adopt a methodical approach to decision making
11. Annie, an employee who often attributes her team failures to bad luck, attributes other teams’ failures to personal shortcomings. Which of the following cognitive biases do Annie’s attributions exemplify?
· Self-deception bias
· Belief bias
· In-group bias
· Hindsight bias
12. When does the straw man fallacy occur?
· When a person tries to disprove a claim based on its source.
· When a person falsifies or overstates an adversary’s position.
· When a person considers only 2 alternatives even when other options are available.
· When a decision maker dismisses an alternative that fails to solve the issue completely.
13. Which of the following types of unemployment is considered to be the most controllable through demand-side macroeconomic policy?
· Cyclical unemployment
· Natural unemployment
· Structural unemployment
· Frictional unemployment
14. Microeconomics and macroeconomics are:
· Interrelated because both are often taught by the same instructors
· Interrelated because what happens in the economy as a whole is based on individual decisions
· Virtually identical, though one is much more difficult than the other
· Not related because they are taught separately
15. Federal law and business leaders alike favor ____________ as a means of governing private business ethics.
· Self-regulation by companies
· Establishment of federal regulators in all private companies to establish and enforce ethical standards.
· Giving the federal government exclusive jurisdiction regarding ethics and ethics violation enforcement.
· Creating uniform statutes of business ethics.
16. Which of the following statements is true of the WARN Act?
· It requires employers to give notice to an “at will” employee that he/she is being fired.
· It requires employers to give notice of a scheduled mass layoff.
· It requires employers to give notice to employees that they are being subjected to polygraph tests.
· It requires employers to give notice to employees that an unscheduled drug test will be conducted for all employees.
17. Alex is playing his music at full volume in his dorm room. The other people living on his floor found this to be a nuisance, but Alex doesn’t care. Alex’s music playing is an example of:
· positive externality
· normative externality
· negative externality
· Pareto externality
18. According to the Ajzen model, the strongest predictor of an employee’s behavior is/are__________.
· social norms
· the employee’s values
· the employee’s attitudes
· the employee’s intentions
19. The interdisciplinary field dedicated to understanding and managing people at work is called:
· management dynamics
· management theory
· organizational behavior
· organizational dynamics
20. Regarding using personality testing as part of the hiring process, experts have concluded that:
· There are many valid instruments available to managers to test for personality types.
· Only the Big Five should be used as predictors of job performance.
· The typical personality test is not a valid predictor of job performance.
· The effects of personality on job performance are so large it cannot be ignored by managers.
21. In the context of developing persuasive messages, which of the following is most likely to help you demonstrate a voice of competence?
· focusing only on logical appeals
· using only emotional appeals in your persuasive messages
· developing strong ideas in the interest of your audience
· adopting the tone of mass advertising such as over-the-top appeals
22. Identify an example of spontaneous creativity.
· Settling a disagreement quickly in a simple way.
· Modifying the strategies and procedures of a group.
· Establishing win-win relationships with other people.
· Organizing annual meetings and get-togethers innovatively.
23. Which of the following is useful advice on conducting business across cultures with those who have limited English ability?
· Speak at your normal, regular pace instead of speaking slowly as this may be viewed as disrespectful.
· Determine a person's level of communication proficiency within the first few moments of your interactions with them.
· Use slang and jargon instead of literal language as much as possible.
· Allow those with limited English ability enough time to process their thoughts into English.
24. Joyce finds that the members of the project team to which she has been assignment in her management class are all athletes on the college’s football and basketball teams. She immediately considers dropping the class because she thinks her experience with that team will be negative. Joyce is likely reacting to a__________.
· semantic memory
· negativity bias
· stereotype
· self-serving bias
25. According to the Classical growth model, an economy that increases its saving will grow:
· Quickly since the increase in saving will permit more rapid technological progress.
· Slowly because interest rates will fall, causing investment to decline.
· Slowly because consumption and aggregate demand will be reduced.
· Quickly since the increase in saving will permit greater investment.
26. A 911 emergency response service needs operators who are bilingual in English and Spanish. A few applicants of Spanish origin are rejected due to poor English-speaking skills. They file a complaint on the grounds of discrimination based on nationality. Their complaint is squashed. Here, the defense of the federal government is on the grounds of:
· Circumstantial evidence
· Inculpatory evidence
· Exclusionary rule
· Bona fide occupational qualifications
27. The distinction between flexible and fixed individual differences__________.
· is that managers should hire people based on their attitudes and emotions
· is that managers have little or no impact on fixed differences
· has no practical value for managers
· is that managers have little or no impact on flexible differences
28. Advertising, personal selling, sales promotion, public relations, and direct marketing are marketing communications alternatives that make up a firm’s __________.
· promotional mix
· communication source
· marketing mix
· media strategy
29. What is the main drawback to the Negotiation & Agreement strategy for overcoming resistance to change?
· ineffective
· too expensive if others decide to also negotiation for compliance
· leads to future problems if people feel manipulated
· time-consuming
30. In order to focus your presentation on people, you should______.
· avoid using presentation software or other technology
· use a lot of "I" statements
· make individuals and groups the subject of your sentences
· include as many photographs as possible in your slides
31. In order to summarize qualitative data, a useful tool is a____________.
· scattergram
· stem-and-leaf diagram
· frequency distribution
· histogram
32. The product life cycle refers to __________.
· a concept that describes the stages a product goes through in the marketplace — introduction, growth, maturity, and decline
· the average life span of a product
· a concept that describes the stages a product goes through in the marketplace—early growth, accelerated development, maturity, and decline
· a concept that describes the stages a new product goes through from product concept to commercialization
33. The study of similarities and differences among consumers in two or more nations or societies is referred to as __________.
· cross-cultural analysis
· international sociographics
· market synthesis
· transnational anthropology
34. Other things held constant in a competitive labor market, if workers negotiate a contract in which the employer agrees to pay an hourly wage of $17.85 while the market equilibrium hour rate is $16.50, the:
· Quantity of workers supplied will exceed the quantity of workers demanded.
· Quantity of workers demanded will exceed the quantity of workers supplied.
· Supply of labor will decrease until the equilibrium wage rate is $17.85.
· Demand for labor will increase until the equilibrium wage rate is $17.85.
35. In which of the following situations is a budget surplus most likely to occur?
· When fiscal policy is expansionary and the economy is contracting
· When fiscal policy is contractionary and the economy is expanding
· When fiscal policy is expansionary
· When the economy is contracting
36. How many parameters are needed to fully describe any normal distribution?
· 1
· 3
· 2
· 4
37. Under the regulations of interstate commerce:
· Activities affecting interstate commerce do not come under the power of the deferral government.
· Intrastate activities affecting interstate commerce can be regulated only by the state governments.
· Regulation on any activity is appropriate if it aids interstate commerce.
· The states have the exclusive power to commerce that passes that passes across their lines.
38. Fred takes Betty to dinner at a very expensive and exclusive restaurant. The menu does not mention prices. The server takes their order, and both Betty and Fred enjoyed the meal immensely. When the bill comes, Fred refuses to pay because the menu had no prices and because he and the server never engaged in language indicating an offer and acceptance. The server said, “Are you ready to order?” and when Fred said “Yes,” the server merely asked, “What may I get you tonight?”
· Fred must pay based on a promissory estoppel theory.
· Fred must pay based on expressed contract theory.
· Fred is correct because no contract was formed.
· Fred must pay based on an implied-in-fact contract theory.
39. A monopoly firm is different from a perfectly competitive firm in that:
· A monopolist’s demand curve is perfectly inelastic whereas a perfectly competitive firm’s demand curve is perfectly elastic.
· A monopolist can influence market price whereas a perfectly competitive firm cannot.
· A competitive firm has a u-shaped average cost curve whereas a monopolist does not.
· There are many substitutes for a monopolist’s product whereas there are no substitutes for a competitive firm’s product.
40. When two regression models applied on the same data set have the same response variable but a different number of explanatory variables, the model that would evidently provide the better fit is the one with a__________.
· higher coefficient of determination and a lower adjusted coefficient of determination
· lower standard error of the estimate and a higher adjusted coefficient of determination
· higher standard of error of the estimate and a higher coefficient of determination
· lower standard error of the estimate and a higher coefficient of determination
41. Suppose farmers can use their land to grown either wheat or corn. The law of supply predicts that an increase in the market price of wheat will cause:
· farmers to lower the production of corn and wheat.
· farmers to substitute wheat for the production of corn.
· farmers to substitute corn for the production of wheat.
· farmers to raise the production of corn and wheat.
42. The DeBeers company is a profit-maximizing monopolist that exercises monopoly power in the distribution of diamonds. If the company earns positive economic profits this year, the price of diamonds will:
· Be equal to the average total cost of diamonds.
· Exceed the marginal cost of diamonds but equal to the average total cost of diamonds.
· Be equal to the marginal cost of diamonds.
· Exceed both the marginal cost and the average total cost of diamonds
43. Jay stops at the shopping mall to purchase a new pair of jeans from the Diesel store. He is the ultimate consumer in a pipeline from the producer through intermediaries, including the clothing store. This pipeline is actually a__________.
· marketing tunnel
· consumer market
· marketing channel
· distribution matrix
44. Your résumé should tell a story of______.
· everything you have learned and done in your previous job
· the value you can provide to a company
· Your educational accomplishments
· how you plan to improve your areas of weakness
45. A receptive developmental network is__________.
· made up of weak ties to multiple developers from a variety of social systems
· made up of numerous strong ties to developers from one social system
· made up of strong ties to several developers from four different social systems
· made up of a few weak ties from one social system
46. What is true of the features used to judge a person’s credibility?
· Mannerisms and age are two valid features that can be used to judge a person’s credibility.
· Well-educated individuals can be highly relied upon as guides to ethical values.
· Ethnicity, gender, and accent are inapt characteristics for judging credibility.
· Individuals can accurately determine a person’s credibility based on physical characteristics.
47. Identify the statement that accurately describes the Sarbanes-Oxley Act.
· It requires business to have only company insiders as board directors.
· Unlike other Acts, its violations do not result in fines or prosecutions.
· Complying with the act saves time and money, but deteriorates efficiency.
· It was passed to promote business ethics by creating legal requirements.
48. Which of the following can be represented by a discrete random variable?
· the circumference of a randomly generated circle
· The number of defective lightbulbs in a sample of five
· The average distance achieved in a series of long jumps
· The time of a flight between Chicago and New York
49. Suppose that college tuition is higher this year than last and that more students are enrolled in college this year than last year. Based on this information, we can best conclude that:
· despite the increase in price, quantity demanded rose due to some other factors changing.
· this situation has nothing to do with the law of demand.
· the demand for a college education is positively sloped.
· the law of demand is invalid.
50. Frequent, abusive, threatening phone calls by creditors are most likely to provoke the basis for a claim of _____________.
· misrepresentation
· malicious representation
· intentional infliction of emotional distress
· false imprisonment and malicious prosecution
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BUS 475 Capstone Final Examination Part 1
Assignment E help is the best online educational portal with UOP final exam and Entire Course questions available with answers. If you need any help regarding BUS 475 Capstone Final Examination Part 1, bus 475 final exam part 1 answers, bus 475 sample final exam answers, bus/475 capstone final examination part 2 answers, bus 475 final exam answers, bus 475 week 3 final exam part 1, bus 475 final exam answer key free, bus 475 final exam 100 questions.
BUS 475 Capstone Final Examination Part 1 -
Article 6 of the Treaty on European Union, called the Maastricht Treaty, states the EU is “founded” on:
specific performance
stare decisis
private markets
rule of law
Which of the following is the path through which contractionary monetary policy works?
Money down implies interest rate up implies investment up implies income down
Money down implies interest rate up implies investment down implies income down
Money down implies interest rate down implies investment down implies income down
Money down implies interest rate down implies investment up implies income down
Marketing research refers to__________.
the use of information technology to find objective solutions to a marketing problem
the process of systematically collecting and analyzing information in order to define a marketing problem
the process of defining a marketing problem and opportunity, systematically collecting and analyzing information, and recommending actions
the science of using observable human behavior in order to identify and solve marketing problems
_____ is the process of converting meaning into messages composed of words and nonverbal signals.
Translating
Decoding
Encoding
Filtering
Sam, a marketing manager, often makes ethical decisions based on what others feel about those decisions. He often considers opinions from other managers and employees. Which of the following ethical systems do Sam’s decisions follow?
Consequentialism
Utilitarianism
Relativism
Egoism
The depreciation of currency will:
improve a country’s comparative advantage.
worsen a country’s comparative advantage.
balance a trade surplus.
have no impact on a country’s comparative advantage.
Which of the following is typically included in the drafting stage of writing an effective business message?
Setting a positive and other-oriented tone
Sending the message to be proofread
Double-checking everything
Identifying the primary message and key points
If a population is known to be normally distributed, what can be said of the sample distribution of the sample mean drawn from this population?
For a sample size n < 30, the sampling distribution of the sample mean is normally distributed.
For a sample size n > 30, the sampling distribution of the sample mean is normally distributed.
For any sample size n, the sampling distribution of the sample mean is normally distributed.
For a sample size n < 50, the sampling distribution of the sample mean is normally distributed.
Marketing refers to__________.
the activity for creating, communicating, delivering, and exchanging offerings that benefit its customers, the organization, its stakeholders, and society at large
the process of identifying target market segments for a product or service
the activity involved in getting a product or service from the manufacturer to ultimate consumers and organizational buyers
the production of products or services that will generate the highest return on investment
Lori is using secondary research to develop a business report. How can she write her report in a way that demonstrates originality in thought?
Cite all her research sources
Use the most current documentation guidelines
Generate her own conclusions and recommendations
Adopt a methodical approach to decision making
Annie, an employee who often attributes her team failures to bad luck, attributes other teams’ failures to personal shortcomings. Which of the following cognitive biases do Annie’s attributions exemplify?
Self-deception bias
Belief bias
In-group bias
Hindsight bias
When does the straw man fallacy occur?
When a person tries to disprove a claim based on its source.
When a person falsifies or overstates an adversary’s position.
When a person considers only 2 alternatives even when other options are available.
When a decision maker dismisses an alternative that fails to solve the issue completely.
Which of the following types of unemployment is considered to be the most controllable through demand-side macroeconomic policy?
Cyclical unemployment
Natural unemployment
Structural unemployment
Frictional unemployment
Microeconomics and macroeconomics are:
Interrelated because both are often taught by the same instructors
Interrelated because what happens in the economy as a whole is based on individual decisions
Virtually identical, though one is much more difficult than the other
Not related because they are taught separately
Federal law and business leaders alike favor ____________ as a means of governing private business ethics.
Self-regulation by companies
Establishment of federal regulators in all private companies to establish and enforce ethical standards.
Giving the federal government exclusive jurisdiction regarding ethics and ethics violation enforcement.
Creating uniform statutes of business ethics.
Which of the following statements is true of the WARN Act?
It requires employers to give notice to an “at will” employee that he/she is being fired.
It requires employers to give notice of a scheduled mass layoff.
It requires employers to give notice to employees that they are being subjected to polygraph tests.
It requires employers to give notice to employees that an unscheduled drug test will be conducted for all employees.
Alex is playing his music at full volume in his dorm room. The other people living on his floor found this to be a nuisance, but Alex doesn’t care. Alex’s music playing is an example of:
positive externality
normative externality
negative externality
Pareto externality
According to the Ajzen model, the strongest predictor of an employee’s behavior is/are__________.
social norms
the employee’s values
the employee’s attitudes
the employee’s intentions
The interdisciplinary field dedicated to understanding and managing people at work is called:
management dynamics
management theory
organizational behavior
organizational dynamics
Regarding using personality testing as part of the hiring process, experts have concluded that:
There are many valid instruments available to managers to test for personality types.
Only the Big Five should be used as predictors of job performance.
The typical personality test is not a valid predictor of job performance.
The effects of personality on job performance are so large it cannot be ignored by managers.
In the context of developing persuasive messages, which of the following is most likely to help you demonstrate a voice of competence?
focusing only on logical appeals
using only emotional appeals in your persuasive messages
developing strong ideas in the interest of your audience
adopting the tone of mass advertising such as over-the-top appeals
Identify an example of spontaneous creativity.
Settling a disagreement quickly in a simple way.
Modifying the strategies and procedures of a group.
Establishing win-win relationships with other people.
Organizing annual meetings and get-togethers innovatively.
Which of the following is useful advice on conducting business across cultures with those who have limited English ability?
Speak at your normal, regular pace instead of speaking slowly as this may be viewed as disrespectful.
Determine a person's level of communication proficiency within the first few moments of your interactions with them.
Use slang and jargon instead of literal language as much as possible.
Allow those with limited English ability enough time to process their thoughts into English.
Joyce finds that the members of the project team to which she has been assignment in her management class are all athletes on the college’s football and basketball teams. She immediately considers dropping the class because she thinks her experience with that team will be negative. Joyce is likely reacting to a__________.
semantic memory
negativity bias
stereotype
self-serving bias
According to the Classical growth model, an economy that increases its saving will grow:
Quickly since the increase in saving will permit more rapid technological progress.
Slowly because interest rates will fall, causing investment to decline.
Slowly because consumption and aggregate demand will be reduced.
Quickly since the increase in saving will permit greater investment.
A 911 emergency response service needs operators who are bilingual in English and Spanish. A few applicants of Spanish origin are rejected due to poor English-speaking skills. They file a complaint on the grounds of discrimination based on nationality. Their complaint is squashed. Here, the defense of the federal government is on the grounds of:
Circumstantial evidence
Inculpatory evidence
Exclusionary rule
Bona fide occupational qualifications
The distinction between flexible and fixed individual differences__________.
is that managers should hire people based on their attitudes and emotions
is that managers have little or no impact on fixed differences
has no practical value for managers
is that managers have little or no impact on flexible differences
Advertising, personal selling, sales promotion, public relations, and direct marketing are marketing communications alternatives that make up a firm’s __________.
promotional mix
communication source
marketing mix
media strategy
What is the main drawback to the Negotiation & Agreement strategy for overcoming resistance to change?
ineffective
too expensive if others decide to also negotiation for compliance
leads to future problems if people feel manipulated
time-consuming
In order to focus your presentation on people, you should______.
avoid using presentation software or other technology
use a lot of "I" statements
make individuals and groups the subject of your sentences
include as many photographs as possible in your slides
In order to summarize qualitative data, a useful tool is a____________.
scattergram
stem-and-leaf diagram
frequency distribution
histogram
The product life cycle refers to __________.
a concept that describes the stages a product goes through in the marketplace — introduction, growth, maturity, and decline
the average life span of a product
a concept that describes the stages a product goes through in the marketplace—early growth, accelerated development, maturity, and decline
a concept that describes the stages a new product goes through from product concept to commercialization
The study of similarities and differences among consumers in two or more nations or societies is referred to as __________.
cross-cultural analysis
international sociographics
market synthesis
transnational anthropology
Other things held constant in a competitive labor market, if workers negotiate a contract in which the employer agrees to pay an hourly wage of $17.85 while the market equilibrium hour rate is $16.50, the:
Quantity of workers supplied will exceed the quantity of workers demanded.
Quantity of workers demanded will exceed the quantity of workers supplied.
Supply of labor will decrease until the equilibrium wage rate is $17.85.
Demand for labor will increase until the equilibrium wage rate is $17.85.
In which of the following situations is a budget surplus most likely to occur?
When fiscal policy is expansionary and the economy is contracting
When fiscal policy is contractionary and the economy is expanding
When fiscal policy is expansionary
When the economy is contracting
How many parameters are needed to fully describe any normal distribution?
1
3
2
4
Under the regulations of interstate commerce:
Activities affecting interstate commerce do not come under the power of the deferral government.
Intrastate activities affecting interstate commerce can be regulated only by the state governments.
Regulation on any activity is appropriate if it aids interstate commerce.
The states have the exclusive power to commerce that passes that passes across their lines.
Fred takes Betty to dinner at a very expensive and exclusive restaurant. The menu does not mention prices. The server takes their order, and both Betty and Fred enjoyed the meal immensely. When the bill comes, Fred refuses to pay because the menu had no prices and because he and the server never engaged in language indicating an offer and acceptance. The server said, “Are you ready to order?” and when Fred said “Yes,” the server merely asked, “What may I get you tonight?”
Fred must pay based on a promissory estoppel theory.
Fred must pay based on expressed contract theory.
Fred is correct because no contract was formed.
Fred must pay based on an implied-in-fact contract theory.
A monopoly firm is different from a perfectly competitive firm in that:
A monopolist’s demand curve is perfectly inelastic whereas a perfectly competitive firm’s demand curve is perfectly elastic.
A monopolist can influence market price whereas a perfectly competitive firm cannot.
A competitive firm has a u-shaped average cost curve whereas a monopolist does not.
There are many substitutes for a monopolist’s product whereas there are no substitutes for a competitive firm’s product.
When two regression models applied on the same data set have the same response variable but a different number of explanatory variables, the model that would evidently provide the better fit is the one with a__________.
higher coefficient of determination and a lower adjusted coefficient of determination
lower standard error of the estimate and a higher adjusted coefficient of determination
higher standard of error of the estimate and a higher coefficient of determination
lower standard error of the estimate and a higher coefficient of determination
Suppose farmers can use their land to grown either wheat or corn. The law of supply predicts that an increase in the market price of wheat will cause:
farmers to lower the production of corn and wheat.
farmers to substitute wheat for the production of corn.
farmers to substitute corn for the production of wheat.
farmers to raise the production of corn and wheat.
The DeBeers company is a profit-maximizing monopolist that exercises monopoly power in the distribution of diamonds. If the company earns positive economic profits this year, the price of diamonds will:
Be equal to the average total cost of diamonds.
Exceed the marginal cost of diamonds but equal to the average total cost of diamonds.
Be equal to the marginal cost of diamonds.
Exceed both the marginal cost and the average total cost of diamonds
Jay stops at the shopping mall to purchase a new pair of jeans from the Diesel store. He is the ultimate consumer in a pipeline from the producer through intermediaries, including the clothing store. This pipeline is actually a__________.
marketing tunnel
consumer market
marketing channel
distribution matrix
Your résumé should tell a story of______.
everything you have learned and done in your previous job
the value you can provide to a company
Your educational accomplishments
how you plan to improve your areas of weakness
A receptive developmental network is__________.
made up of weak ties to multiple developers from a variety of social systems
made up of numerous strong ties to developers from one social system
made up of strong ties to several developers from four different social systems
made up of a few weak ties from one social system
What is true of the features used to judge a person’s credibility?
Mannerisms and age are two valid features that can be used to judge a person’s credibility.
Well-educated individuals can be highly relied upon as guides to ethical values.
Ethnicity, gender, and accent are inapt characteristics for judging credibility.
Individuals can accurately determine a person’s credibility based on physical characteristics.
Identify the statement that accurately describes the Sarbanes-Oxley Act.
It requires business to have only company insiders as board directors.
Unlike other Acts, its violations do not result in fines or prosecutions.
Complying with the act saves time and money, but deteriorates efficiency.
It was passed to promote business ethics by creating legal requirements.
Which of the following can be represented by a discrete random variable?
the circumference of a randomly generated circle
The number of defective lightbulbs in a sample of five
The average distance achieved in a series of long jumps
The time of a flight between Chicago and New York
Suppose that college tuition is higher this year than last and that more students are enrolled in college this year than last year. Based on this information, we can best conclude that:
despite the increase in price, quantity demanded rose due to some other factors changing.
this situation has nothing to do with the law of demand.
the demand for a college education is positively sloped.
the law of demand is invalid.
Frequent, abusive, threatening phone calls by creditors are most likely to provoke the basis for a claim of _____________.
misrepresentation
malicious representation
intentional infliction of emotional distress
false imprisonment and malicious prosecution
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BUS Capstone 475 Final Exam Part 2
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01.This is the latest BUS/475 Capstone Final Examination Part 2 (100%)
Which of the following is not a current liability on December 31, 2014?
· A lawsuit judgment to be decided on January 10,2015
· A Note Payable due December 31 2015
· Accrued salaries payable from 2014
· An Accounts Payable due January 31,2015
02.Continuous monitoring, in the contemporary approach, is beneficial because_____________.
· it increases the time it takes to detect changes in the competitive environment
· organization response time is increased
· organizational flexibility is reduced
· It reduces time lags
03. The acquisition of treasury stock by a corporation:
· Requires that a gain or loss be recognized on the income statement.
· Increases its total assets and total stockholders’ equity.
· Has no effect on total assets and total stockholders’ equity.
· Decreases its total assets and total stockholders’ equity.
04. You work in marketing for a company that produces work boots. Quality control has sent you a memo detailing the length of time before the boots wear out under heavy use. They find that the boots wear out in an average of 208 days, but the exact amount of time varies, following a normal distribution with a standard deviation of 14 days. For an upcoming ad campaign, you need to know the percent of the pairs that last longer than six months-that is, 180 days. Use the empirical rule to approximate this percent.
· 97.5%
· 95%
· 2.5%
· 5%
05.__________involves ensuring proper strategic controls and organizational designs.
· Corporate governance
· Strategy implementation
· Business-level strategy
· Corporate-level strategy
06.A post-closing trial balance will show:
· only income statement accounts
· zero balances for balance sheet accounts
· only balance sheet accounts
· zero balances for all accounts
07.The preparation of adjusting entries is:
· straightforward because the accounts that need adjustment will be out of balance
· needed to ensure that the expense recognition principle is followed.
· only required for accounts that do not have a normal balance.
· optional when financial statements are prepared.
08.In a simple linear regression model, if the plots on a scatter diagram lie on a straight line, what is the standard error of the estimate?
· Infinity
· 0
· +1
· -1
09.The fraud triangle applies to:
· U.S. and Canadian companies, but not other international companies.
· U.S companies but not international companies.
· U.S and international companies.
· international companies but not U.S. companies.
10.According to value-chain analysis, which of the following would be considered part of the general administration in a firm?
· information systems
· procurement
· technology development
· human resource management
11.Which of the following can be represented by a discrete random variable?
· The circumference of a randomly generated circle
· The number of defective light bulbs in a sample of five
· The time of a flight between Chicago and New York
· The average distance achieved in a series of long jumps
12.What is an advantage of the correlation coefficient over the covariance?
· It falls between 0 and 1.
· It falls between -1 and 1.
· It falls between -1 and 1; and it is a unit free measure, therefore making it easier to interpret.
· It is a unit-free measure, therefore making it easier to interpret.
13.GAAP, compared to IFRS, tends to be more:
· rules-based
· simple in accounting requirements
· principles-based
· simple in disclosure requirements
14.The resource-based view (RBV) of the firm combines two perspectives:
· the internal analysis of the firm and the external analysis of the industry and competitive environment
· the primary and support activities of the firm
· the industry and the competitive environment
· the interrelationships among the primary activities of the firm and corporate management
15.Sarbanes Oxley applies to:
· U.S and international companies.
· U.S. and Canadian companies but not other international companies.
· U.S companies but not international companies.
· international companies but not U.S. companies.
16.Is it possible for a data set to have no mode?
· No, unless there is an odd number of observations
· Yes, if two observations occur twice
· Yes, if there are no observations that occur more than once
· No, if the data set is nonempty, there is always a mode
17.Under the accrual basis of accounting:
· events that change a company's financial statements are recognized in the period they occur rather than in the period in which cash is paid or received.
· the ledger accounts must be adjusted to reflect a cash basis of accounting before financial statements are prepared under generally accepted accounting principles.
· cash must be received before revenue is recognized.
· net income is calculated by matching cash outflows against cash inflows.
18.Which trial balance will consist of the greatest number of accounts?
· Trial balance
· Adjusted trial balance
· Balance
· Post-closing trial balance
19. Vertical analysis is a technique that expresses each item in a financial statement:
· in dollars and cents.
· as a percent of a base amount.
· as a percent of the item in the previous year.
· starting with the highest value down to the lowest value.
20. Cost allocation of an intangible asset is referred to as:
· accretion
· amortization
· depreciation
· capitalization
21. According to the text, the triple bottom line approach to corporate accounting includes three components:
· financial, environmental, and social
· financial, organizational, and customer
· financial, environmental, and customer
· financial, organizational, and psychological
22. An analyst believes the probability that U.S. stock returns exceed long-term corporate bond returns over a 5-year period is based on personal assessment. This type of probability is best characterized as a(n) ____________.
· Subjective probability
· Objectivity probability
· Empirical probability
· A priori probability
24. Green, Inc. had 200,000 shares of common stock outstanding before a stock split occurred and 800,000 shares outstanding after the stock split. The stock split was:
· 2-for-8
· 1-for-8
· 8-for-1
· 4-for-1
25. Firms must be aware of goals other than short-term profit maximization. One area of concern should be social responsibility which is:
· the expectation that business will strive to improve the overall welfare of society
· the fact that court costs could impact the financial bottom line
· the idea that organizations are solely responsible to local citizens
· the idea that businesses are responsible to maintain a healthy social climate for their employees
26. Expenditures that maintain the operating efficiency and expected productive life of a plant asset are generally:
· Expensed when incurred.
· Not recorded until they become material in amount.
· Debited to the Accumulated Depreciation account.
· Capitalized as a part of the cost of the asset.
27. For both qualitative and quantitative data, what is the difference between the relative frequency and the percent frequency?
· The relative frequency equals the percent frequency multiplied by 100.
· The percent frequency equals the relative frequency multiplied by 100
· As opposed to the relative frequency, the percent frequency is divided by the number of observations in the data set.
· As opposed to the percent frequency, the relative frequency is divided by the number of observations in the data set.
28. Shaw Industries, a giant carpet manufacturer, increases its control over raw materials by producing much of its own polypropylene fiber, a key input to its manufacturing process. This is an example of _______________.
· using related diversification to achieve value by leveraging core competencies to achieve economies of scope
· using related diversification to achieve value by pooling negotiating power to achieve market power
· using related diversification to achieve value by integrating vertically in order to attain economies of scope
· using related diversification to achieve value by integrating vertically in order to acquire market power
29. Which of the following can be represented by a continuous random variable?
· The average temperature in Tampa, Florida, during the month of July
· The number of customers who visit a department store between 10:00 a.m. and 11:00 a.m. on Mondays
· The number of students who will get financial assistance in a group of 50 randomly selected students
· The number of typos found on a randomly selected page of this test bank
30.Which of the following controls would best help detect the removal of a blank check by an employee from the back of a company's checkbook for subsequent misappropriation of funds?
· An accounting policies manual
· Tracing any debit memorandums from the bank to the company's records
· A review of the cash budget
· The use of pre-numbered checks
31. A SWOT analysis is a framework for analyzing a firm’s environments. A SWOT is made up of
· Internal environmental analysis of threats and weaknesses.
· Internal strengths and weaknesses; external threats and opportunities.
· Internal threats and weakness and external strengths and opportunities.
· External analysis of strengths and opportunities.
32. Assuming that a periodic inventory system is used, what is the cost of goods sold on a FIFO basis?
· $23,088
· $11,022
· $10,992
· $23,118
33. Which of these statements regarding the industry life cycle is correct?
· It points out the need to maintain a differentiation advantage and a low cost advantage simultaneously.
· Trends suggested by the market life cycle model are generally not reversible or repeatable.
· It has important implications for company generic strategies, functional areas, value-creating activities, and overall objectives.
· Part of the power of the market life cycle is its ability to serve as a short-run forecasting device.
34. What is a difference between merchandising companies and service enterprises?
· Merchandising companies must prepare multiple-step income statements and service enterprises must prepare single-step income statements.
· Cost of goods sold is an expense for service enterprises but not for merchandising companies.
· The operations in merchandising companies and service enterprises are identical.
· Merchandising companies generally have a longer operating cycle than service enterprises.
35. Which of the following meets the requirements of a simple random sample?
· A population contains 10 members under the age of 25 and 20 members over the age of 25. The sample will include six males chosen at random, without regard to age.
· A population contains 10 members under the age of 25 and 20 members over the age of 25. The sample will include six people who volunteer for the sample.
· A population contains 10 members under the age of 25 and 20 members over the age of 25. The sample will include six people chosen at random, without regard to age.
· A population contains 10 members under the age of 25 and 20 members over the age of 25. The sample will include two people
chosen at random under the age of 25 and four people chosen at random over 25.
36. The acquisition of treasury stock by a corporation:
· Increases its total assets and total stockholders’ equity.
· Requires that a gain or loss be recognized on the income statement.
· Has no effect on total assets and total stockholders’ equity.
· Decreases its total assets and total stockholders’ equity.
37. WellPoint Health Network states: WellPoint will redefine our industry: through a new generation of consumer-friendly products that put individuals back in control of their future. This is an example of a:
· Vision statement
· Vague statement of direction
· Strategic objective
· Line manger’s individual goal
38. If a corporation issued $8,000,000 in bonds which pay 5% annual interest, what is the annual net cash cost of this borrowing if the income tax rate is 30%?
· $400,000
· $120,000
· $4,000,000
· $280,000
39. International Financial Reporting Standards (IFRS):
· Implies that receivables with different characteristics should be reported separately.
· Implies that receivables with different characteristics should be reported as one un-segregated amount.
· Requires that receivables with different characteristics should be reported as one un-segregated amount.
· Requires that receivables with different characteristics should be reported separately.
40. Assume that the Fitzgerald Corporation uses the indirect method to depict cash flows. Indicate where, if at all, accounts receivable collected would be classified on the statement of cash flows.
· Does not represent a cash flow.
· Operating activities section.
· Financing activities section.
· Investing activities section.
41. Shaw Industries, a giant carpet manufacturer, increases its control over raw materials by producing much of its own polypropylene fiber, a key input to its manufacturing process. This is an example of _______________.
· using related diversification to achieve value by integrating vertically in order to acquire market power
· using related diversification to achieve value by leveraging core competencies to achieve economies of scope
· using related diversification to achieve value by pooling negotiating power to achieve market power
· using related diversification to achieve value by integrating vertically in order to attain economies of scope
42. In multiple regression, plot the residuals against ____ to detect changing variability.
· The response variable
· The predicted values
· Collinear variables
· All explanatory variables
43. On March 1st, Candy, Inc. had supplies on hand of $1,500. During the month, Candy purchased supplies of $2,900 and used supplies of $2,800. The March 31st balance sheet should report what balance in their supplies account?
· $2,800
· $1,500
· $1,600
· $2,900
44. Which of the following requirements about internal controls were enacted under the Sarbanes Oxley Act:
· Companies must assess the functionality of internal controls only when a violation occurs.
· Companies must develop sound internal controls over financial reporting.
· Independent outside auditors must eliminate redundant internal controls.
· Internal auditors replace independent outside auditors when evaluating the level of internal control.
45. The four key attributes of strategic management include the idea that:
· Strategy must be focused on competitor strengths.
· Strategy must be directed toward overall organizational goals and objectives.
· Strategy must be focused on one specific area of an organization.
· Strategy must be focused on long-term objectives.
46. Which financial statement would best indicate whether the company relies on debt or stockholders’ equity to finance its assets?
· Statement of cash flows
· Retained earnings statement
· Income statement
· Balance sheet
47. When collection is made on Accounts Receivable,
· Total assets will decrease.
· Stockholders equity will increase.
· Total assets will increase.
· Total assets will remain the same.
48. 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?
· $12,600
· $9,000
· $6,300
· $1,800
49. Sampling is used heavily in manufacturing and service settings to ensure high-quality products. In which of the following areas would sampling be inappropriate?
· Cell phone manufacturing
· Custom cabinet making
· Computer assembly
· Technical support by phone
50. Interest may be included in the acquisition cost of a plant asset:
· If the asset is purchased on credit.
· During the construction period of a self-constructed asset.
· If it is a part of a lump-sum purchase.
· If the asset acquisition is financed by a long-term note payable.
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Popular Question of BUS Capstone 475 Final Exam Part 1
01. Article 6 of the Treaty on European Union, called the Maastricht Treaty, states the EU is “founded” on:
· specific performance
· stare decisis
· private markets
· rule of law
02.Which of the following is the path through which contractionary monetary policy works?
· Money down implies interest rate up implies investment up implies income down
· Money down implies interest rate up implies investment down implies income down
· Money down implies interest rate down implies investment down implies income down
· Money down implies interest rate down implies investment up implies income down
03. Marketing research refers to__________.
· the use of information technology to find objective solutions to a marketing problem
· the process of systematically collecting and analyzing information in order to define a marketing problem
· the process of defining a marketing problem and opportunity, systematically collecting and analyzing information, and recommending actions
· the science of using observable human behavior in order to identify and solve marketing problems
04. _____ is the process of converting meaning into messages composed of words and nonverbal signals.
· Translating
· Decoding
· Encoding
· Filtering
05.Sam, a marketing manager, often makes ethical decisions based on what others feel about those decisions. He often considers opinions from other managers and employees. Which of the following ethical systems do Sam’s decisions follow?
· Consequentialism
· Utilitarianism
· Relativism
· Egoism
06.The depreciation of currency will:
· improve a country’s comparative advantage.
· worsen a country’s comparative advantage.
· balance a trade surplus.
· have no impact on a country’s comparative advantage.
07.Which of the following is typically included in the drafting stage of writing an effective business message?
· Setting a positive and other-oriented tone
· Sending the message to be proofread
· Double-checking everything
· Identifying the primary message and key points
08.If a population is known to be normally distributed, what can be said of the sample distribution of the sample mean drawn from this population?
· For a sample size n < 30, the sampling distribution of the sample mean is normally distributed.
· For a sample size n > 30, the sampling distribution of the sample mean is normally distributed.
· For any sample size n, the sampling distribution of the sample mean is normally distributed.
· For a sample size n < 50, the sampling distribution of the sample mean is normally distributed.
09.Marketing refers to__________.
· the activity for creating, communicating, delivering, and exchanging offerings that benefit its customers, the organization, its stakeholders, and society at large
· the process of identifying target market segments for a product or service
· the activity involved in getting a product or service from the manufacturer to ultimate consumers and organizational buyers
· the production of products or services that will generate the highest return on investment
10. Lori is using secondary research to develop a business report. How can she write her report in a way that demonstrates originality in thought?
· Cite all her research sources
· Use the most current documentation guidelines
· Generate her own conclusions and recommendations
· Adopt a methodical approach to decision making
11.Annie, an employee who often attributes her team failures to bad luck, attributes other teams’ failures to personal shortcomings. Which of the following cognitive biases do Annie’s attributions exemplify?
· Self-deception bias
· Belief bias
· In-group bias
· Hindsight bias
12.When does the straw man fallacy occur?
· When a person tries to disprove a claim based on its source.
· When a person falsifies or overstates an adversary’s position.
· When a person considers only 2 alternatives even when other options are available.
· When a decision maker dismisses an alternative that fails to solve the issue completely.
13.Which of the following types of unemployment is considered to be the most controllable through demand-side macroeconomic policy?
· Cyclical unemployment
· Natural unemployment
· Structural unemployment
· Frictional unemployment
14.Microeconomics and macroeconomics are:
· Interrelated because both are often taught by the same instructors
· Interrelated because what happens in the economy as a whole is based on individual decisions
· Virtually identical, though one is much more difficult than the other
· Not related because they are taught separately
15.Federal law and business leaders alike favor ____________ as a means of governing private business ethics.
· Self-regulation by companies
· Establishment of federal regulators in all private companies to establish and enforce ethical standards.
· Giving the federal government exclusive jurisdiction regarding ethics and ethics violation enforcement.
· Creating uniform statutes of business ethics.
16.Which of the following statements is true of the WARN Act?
· It requires employers to give notice to an “at will” employee that he/she is being fired.
· It requires employers to give notice of a scheduled mass layoff.
· It requires employers to give notice to employees that they are being subjected to polygraph tests.
· It requires employers to give notice to employees that an unscheduled drug test will be conducted for all employees.
17.Alex is playing his music at full volume in his dorm room. The other people living on his floor found this to be a nuisance, but Alex doesn’t care. Alex’s music playing is an example of:
· positive externality
· normative externality
· negative externality
· Pareto externality
18.According to the Ajzen model, the strongest predictor of an employee’s behavior is/are__________.
· social norms
· the employee’s values
· the employee’s attitudes
· the employee’s intentions
19.The interdisciplinary field dedicated to understanding and managing people at work is called:
· management dynamics
· management theory
· organizational behavior
· organizational dynamics
20.Regarding using personality testing as part of the hiring process, experts have concluded that:
· There are many valid instruments available to managers to test for personality types.
· Only the Big Five should be used as predictors of job performance.
· The typical personality test is not a valid predictor of job performance.
· The effects of personality on job performance are so large it cannot be ignored by managers.
21.In the context of developing persuasive messages, which of the following is most likely to help you demonstrate a voice of competence?
· focusing only on logical appeals
· using only emotional appeals in your persuasive messages
· developing strong ideas in the interest of your audience
· adopting the tone of mass advertising such as over-the-top appeals
22.Identify an example of spontaneous creativity.
· Settling a disagreement quickly in a simple way.
· Modifying the strategies and procedures of a group.
· Establishing win-win relationships with other people.
· Organizing annual meetings and get-togethers innovatively.
23.Which of the following is useful advice on conducting business across cultures with those who have limited English ability?
· Speak at your normal, regular pace instead of speaking slowly as this may be viewed as disrespectful.
· Determine a person's level of communication proficiency within the first few moments of your interactions with them.
· Use slang and jargon instead of literal language as much as possible.
· Allow those with limited English ability enough time to process their thoughts into English.
24.Joyce finds that the members of the project team to which she has been assignment in her management class are all athletes on the college’s football and basketball teams. She immediately considers dropping the
class because she thinks her experience with that team will be negative. Joyce is likely reacting to a__________.
· semantic memory
· negativity bias
· stereotype
· self-serving bias
25.According to the Classical growth model, an economy that increases its saving will grow:
· Quickly since the increase in saving will permit more rapid technological progress.
· Slowly because interest rates will fall, causing investment to decline.
· Slowly because consumption and aggregate demand will be reduced.
· Quickly since the increase in saving will permit greater investment.
26.A 911 emergency response service needs operators who are bilingual in English and Spanish. A few applicants of Spanish origin are rejected due to poor English-speaking skills. They file a complaint on the grounds of discrimination based on nationality. Their complaint is squashed. Here, the defense of the federal government is on the grounds of:
· Circumstantial evidence
· Inculpatory evidence
· Exclusionary rule
· Bona fide occupational qualifications
27.The distinction between flexible and fixed individual differences__________.
· is that managers should hire people based on their attitudes and emotions
· is that managers have little or no impact on fixed differences
· has no practical value for managers
· is that managers have little or no impact on flexible differences
28.Advertising, personal selling, sales promotion, public relations, and direct marketing are marketing communications alternatives that make up a firm’s __________.
· promotional mix
· communication source
· marketing mix
· media strategy
29.What is the main drawback to the Negotiation & Agreement strategy for overcoming resistance to change?
· ineffective
· too expensive if others decide to also negotiation for compliance
· leads to future problems if people feel manipulated
· time-consuming
30.In order to focus your presentation on people, you should______.
· avoid using presentation software or other technology
· use a lot of "I" statements
· make individuals and groups the subject of your sentences
· include as many photographs as possible in your slides
31.In order to summarize qualitative data, a useful tool is a____________.
· scattergram
· stem-and-leaf diagram
· frequency distribution
· histogram
32.The product life cycle refers to __________.
· a concept that describes the stages a product goes through in the marketplace — introduction, growth, maturity, and decline
· the average life span of a product
· a concept that describes the stages a product goes through in the marketplace—early growth, accelerated development, maturity, and decline
· a concept that describes the stages a new product goes through from product concept to commercialization
33.The study of similarities and differences among consumers in two or more nations or societies is referred to as __________.
· cross-cultural analysis
· international sociographics
· market synthesis
· transnational anthropology
34.Other things held constant in a competitive labor market, if workers negotiate a contract in which the employer agrees to pay an hourly wage of $17.85 while the market equilibrium hour rate is $16.50, the:
· Quantity of workers supplied will exceed the quantity of workers demanded.
· Quantity of workers demanded will exceed the quantity of workers supplied.
· Supply of labor will decrease until the equilibrium wage rate is $17.85.
· Demand for labor will increase until the equilibrium wage rate is $17.85.
35.In which of the following situations is a budget surplus most likely to occur?
· When fiscal policy is expansionary and the economy is contracting
· When fiscal policy is contractionary and the economy is expanding
· When fiscal policy is expansionary
· When the economy is contracting
36.Fred takes Betty to dinner at a very expensive and exclusive restaurant. The menu does not mention prices. The server takes their order, and both Betty and Fred enjoyed the meal immensely. When the bill comes, Fred refuses to pay because the menu had no prices and because he and the server never engaged in language indicating an offer and acceptance. The server said, “Are you ready to order?” and when Fred said “Yes,” the server merely asked, “What may I get you tonight?”
· Fred must pay based on a promissory estoppel theory.
· Fred must pay based on expressed contract theory.
· Fred is correct because no contract was formed.
· Fred must pay based on an implied-in-fact contract theory.
37.A monopoly firm is different from a perfectly competitive firm in that:
· A monopolist’s demand curve is perfectly inelastic whereas a perfectly competitive firm’s demand curve is perfectly elastic.
· A monopolist can influence market price whereas a perfectly competitive firm cannot.
· A competitive firm has a u-shaped average cost curve whereas a monopolist does not.
· There are many substitutes for a monopolist’s product whereas there are no substitutes for a competitive firm’s product.
38.When two regression models applied on the same data set have the same response variable but a different number of explanatory variables, the model that would evidently provide the better fit is the one with a__________.
· higher coefficient of determination and a lower adjusted coefficient of determination
· lower standard error of the estimate and a higher adjusted coefficient of determination
· higher standard of error of the estimate and a higher coefficient of determination
· lower standard error of the estimate and a higher coefficient of determination
39.Suppose farmers can use their land to grown either wheat or corn. The law of supply predicts that an increase in the market price of wheat will cause:
· farmers to lower the production of corn and wheat.
· farmers to substitute wheat for the production of corn.
· farmers to substitute corn for the production of wheat.
· farmers to raise the production of corn and wheat.
40.The DeBeers company is a profit-maximizing monopolist that exercises monopoly power in the distribution of diamonds. If the company earns positive economic profits this year, the price of diamonds will:
· Be equal to the average total cost of diamonds.
· Exceed the marginal cost of diamonds but equal to the average total cost of diamonds.
· Be equal to the marginal cost of diamonds.
· Exceed both the marginal cost and the average total cost of diamonds
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BUS 475 CAPSTONE FINAL EXAMINATION PART 2
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BUS 475 Capstone Final Examination Part 2
This is the latest BUS/475 Capstone Final Examination Part 2 (100%)
1. Which of the following is not a current liability on December 31, 2014?
· A lawsuit judgment to be decided on January 10,2015
· A Note Payable due December 31 2015
· Accrued salaries payable from 2014
· An Accounts Payable due January 31,2015
2. Continuous monitoring, in the contemporary approach, is beneficial because_____________.
· it increases the time it takes to detect changes in the competitive environment
· organization response time is increased
· organizational flexibility is reduced
· It reduces time lags
3. The acquisition of treasury stock by a corporation:
· requires that a gain or loss be recognized on the income statement.
· increases its total assets and total stockholders’ equity.
· has no effect on total assets and total stockholders’ equity.
· decreases its total assets and total stockholders’ equity.
4. You work in marketing for a company that produces work boots. Quality control has sent you a memo detailing the length of time before the boots wear out under heavy use. They find that the boots wear out in an average of 208 days, but the exact amount of time varies, following a normal distribution with a standard deviation of 14 days. For an upcoming ad campaign, you need to know the percent of the pairs that last longer than six months-that is, 180 days. Use the empirical rule to approximate this percent.
· 97.5%
· 95%
· 2.5%
· 5%
5. __________involves ensuring proper strategic controls and organizational designs.
· Corporate governance
· Strategy implementation
· Business-level strategy
· Corporate-level strategy
6. A post-closing trial balance will show:
· only income statement accounts
· zero balances for balance sheet accounts
· only balance sheet accounts
· zero balances for all accounts
7. The preparation of adjusting entries is:
· straightforward because the accounts that need adjustment will be out of balance
· needed to ensure that the expense recognition principle is followed.
· only required for accounts that do not have a normal balance.
· optional when financial statements are prepared.
8. In a simple linear regression model, if the plots on a scatter diagram lie on a straight line, what is the standard error of the estimate?
· Infinity
· 0
· +1
· -1
9. The fraud triangle applies to:
· U.S. and Canadian companies, but not other international companies.
· U.S companies but not international companies.
· U.S and international companies.
· international companies but not U.S. companies.
10. According to value-chain analysis, which of the following would be considered part of the general administration in a firm?
· information systems
· procurement
· technology development
· human resource management
11. Which of the following can be represented by a discrete random variable?
· The circumference of a randomly generated circle
· The number of defective light bulbs in a sample of five
· The time of a flight between Chicago and New York
· The average distance achieved in a series of long jumps
12. What is an advantage of the correlation coefficient over the covariance?
· It falls between 0 and 1.
· It falls between -1 and 1.
· It falls between -1 and 1; and it is a unit free measure, therefore making it easier to interpret.
· It is a unit-free measure, therefore making it easier to interpret.
13. GAAP, compared to IFRS, tends to be more:
· rules-based
· simple in accounting requirements
· principles-based
· simple in disclosure requirements
14. The resource-based view (RBV) of the firm combines two perspectives:
· the internal analysis of the firm and the external analysis of the industry and competitive environment
· the primary and support activities of the firm
· the industry and the competitive environment
· the interrelationships among the primary activities of the firm and corporate management
15. Sarbanes Oxley applies to:
· U.S and international companies.
· U.S. and Canadian companies but not other international companies.
· U.S companies but not international companies.
· international companies but not U.S. companies.
16. Is it possible for a data set to have no mode?
· No, unless there is an odd number of observations
· Yes, if two observations occur twice
· Yes, if there are no observations that occur more than once
· No, if the data set is nonempty, there is always a mode
17. Under the accrual basis of accounting:
· events that change a company's financial statements are recognized in the period they occur rather than in the period in which cash is paid or received.
· the ledger accounts must be adjusted to reflect a cash basis of accounting before financial statements are prepared under generally accepted accounting principles.
· cash must be received before revenue is recognized.
· net income is calculated by matching cash outflows against cash inflows.
18. Which trial balance will consist of the greatest number of accounts?
· Trial balance
· Adjusted trial balance
· Balance
· Post-closing trial balance
19. Vertical analysis is a technique that expresses each item in a financial statement:
· in dollars and cents.
· as a percent of a base amount.
· as a percent of the item in the previous year.
· starting with the highest value down to the lowest value.
20. Cost allocation of an intangible asset is referred to as:
· accretion
· amortization
· depreciation
· capitalization
21. According to the text, the triple bottom line approach to corporate accounting includes three components:
· financial, environmental, and social
· financial, organizational, and customer
· financial, environmental, and customer
· financial, organizational, and psychological
22. An analyst believes the probability that U.S. stock returns exceed long-term corporate bond returns over a 5-year period is based on personal assessment. This type of probability is best characterized as a(n) ____________.
· Subjective probability
· Objectivity probability
· Empirical probability
· A priori probability
23. Green, Inc. had 200,000 shares of common stock outstanding before a stock split occurred and 800,000 shares outstanding after the stock split. The stock split was:
· 2-for-8
· 1-for-8
· 8-for-1
· 4-for-1
24. Firms must be aware of goals other than short-term profit maximization. One area of concern should be social responsibility which is:
· the expectation that business will strive to improve the overall welfare of society
· the fact that court costs could impact the financial bottom line
· the idea that organizations are solely responsible to local citizens
· the idea that businesses are responsible to maintain a healthy social climate for their employees
25. Expenditures that maintain the operating efficiency and expected productive life of a plant asset are generally:
· expensed when incurred.
· not recorded until they become material in amount.
· debited to the Accumulated Depreciation account.
· capitalized as a part of the cost of the asset.
26. For both qualitative and quantitative data, what is the difference between the relative frequency and the percent frequency?
· The relative frequency equals the percent frequency multiplied by 100.
· The percent frequency equals the relative frequency multiplied by 100
· As opposed to the relative frequency, the percent frequency is divided by the number of observations in the data set.
· As opposed to the percent frequency, the relative frequency is divided by the number of observations in the data set.
27. Shaw Industries, a giant carpet manufacturer, increases its control over raw materials by producing much of its own polypropylene fiber, a key input to its manufacturing process. This is an example of _______________.
· using related diversification to achieve value by leveraging core competencies to achieve economies of scope
· using related diversification to achieve value by pooling negotiating power to achieve market power
· using related diversification to achieve value by integrating vertically in order to attain economies of scope
· using related diversification to achieve value by integrating vertically in order to acquire market power
28. Which of the following can be represented by a continuous random variable?
· The average temperature in Tampa, Florida, during the month of July
· The number of customers who visit a department store between 10:00 a.m. and 11:00 a.m. on Mondays
· The number of students who will get financial assistance in a group of 50 randomly selected students
· The number of typos found on a randomly selected page of this test bank
29. Which of the following controls would best help detect the removal of a blank check by an employee from the back of a company's checkbook for subsequent misappropriation of funds?
· An accounting policies manual
· Tracing any debit memorandums from the bank to the company's records
· A review of the cash budget
· The use of pre-numbered checks
30. A SWOT analysis is a framework for analyzing a firm’s environments. A SWOT is made up of
· Internal environmental analysis of threats and weaknesses.
· Internal strengths and weaknesses; external threats and opportunities.
· Internal threats and weakness and external strengths and opportunities.
· External analysis of strengths and opportunities.
31. Trumpeting Trumpets has the following inventory data:
July 1: Beginning inventory
30 units at $120
July 5: Purchases
180 units at $112
July 14: Sale
120 units
July 21: Purchases
90 units at $115
July 30: Sale
84 units
Assuming that a periodic inventory system is used, what is the cost of goods sold on a FIFO basis?
· $23,088
· $11,022
· $10,992
· $23,118
32. Which of these statements regarding the industry life cycle is correct?
· It points out the need to maintain a differentiation advantage and a low cost advantage simultaneously.
· Trends suggested by the market life cycle model are generally not reversible or repeatable.
· It has important implications for company generic strategies, functional areas, value-creating activities, and overall objectives.
· Part of the power of the market life cycle is its ability to serve as a short-run forecasting device.
33. What is a difference between merchandising companies and service enterprises?
· Merchandising companies must prepare multiple-step income statements and service enterprises must prepare single-step income statements.
· Cost of goods sold is an expense for service enterprises but not for merchandising companies.
· The operations in merchandising companies and service enterprises are identical.
· Merchandising companies generally have a longer operating cycle than service enterprises.
34. Which of the following meets the requirements of a simple random sample?
· A population contains 10 members under the age of 25 and 20 members over the age of 25. The sample will include six males chosen at random, without regard to age.
· A population contains 10 members under the age of 25 and 20 members over the age of 25. The sample will include six people who volunteer for the sample.
· A population contains 10 members under the age of 25 and 20 members over the age of 25. The sample will include six people chosen at random, without regard to age.
· A population contains 10 members under the age of 25 and 20 members over the age of 25. The sample will include two people chosen at random under the age of 25 and four people chosen at random over 25.
35. The acquisition of treasury stock by a corporation:
· increases its total assets and total stockholders’ equity.
· requires that a gain or loss be recognized on the income statement.
· has no effect on total assets and total stockholders’ equity.
· decreases its total assets and total stockholders’ equity.
36. WellPoint Health Network states: WellPoint will redefine our industry: through a new generation of consumer-friendly products that put individuals back in control of their future. This is an example of a:
· Vision statement
· Vague statement of direction
· Strategic objective
· Line manger’s individual goal
37. If a corporation issued $8,000,000 in bonds which pay 5% annual interest, what is the annual net cash cost of this borrowing if the income tax rate is 30%?
· $400,000
· $120,000
· $4,000,000
· $280,000
38. International Financial Reporting Standards (IFRS):
· implies that receivables with different characteristics should be reported separately.
· implies that receivables with different characteristics should be reported as one un-segregated amount.
· requires that receivables with different characteristics should be reported as one un-segregated amount.
· requires that receivables with different characteristics should be reported separately.
39. Assume that the Fitzgerald Corporation uses the indirect method to depict cash flows. Indicate where, if at all, accounts receivable collected would be classified on the statement of cash flows.
· Does not represent a cash flow.
· Operating activities section.
· Financing activities section.
· Investing activities section.
40. Shaw Industries, a giant carpet manufacturer, increases its control over raw materials by producing much of its own polypropylene fiber, a key input to its manufacturing process. This is an example of _______________.
· using related diversification to achieve value by integrating vertically in order to acquire market power
· using related diversification to achieve value by leveraging core competencies to achieve economies of scope
· using related diversification to achieve value by pooling negotiating power to achieve market power
· using related diversification to achieve value by integrating vertically in order to attain economies of scope
41. In multiple regression, plot the residuals against ____ to detect changing variability.
· The response variable
· The predicted values
· Collinear variables
· All explanatory variables
42. On March 1st, Candy, Inc. had supplies on hand of $1,500. During the month, Candy purchased supplies of $2,900 and used supplies of $2,800. The March 31st balance sheet should report what balance in their supplies account?
· $2,800
· $1,500
· $1,600
· $2,900
43. Which of the following requirements about internal controls were enacted under the Sarbanes Oxley Act:
· Companies must assess the functionality of internal controls only when a violation occurs.
· Companies must develop sound internal controls over financial reporting.
· Independent outside auditors must eliminate redundant internal controls.
· Internal auditors replace independent outside auditors when evaluating the level of internal control.
44. The four key attributes of strategic management include the idea that:
· Strategy must be focused on competitor strengths.
· Strategy must be directed toward overall organizational goals and objectives.
· Strategy must be focused on one specific area of an organization.
· Strategy must be focused on long-term objectives.
45. Which financial statement would best indicate whether the company relies on debt or stockholders’ equity to finance its assets?
· Statement of cash flows
· Retained earnings statement
· Income statement
· Balance sheet
46. When collection is made on Accounts Receivable,
· total assets will decrease.
· stockholders equity will increase.
· total assets will increase.
· total assets will remain the same.
47. 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?
· $12,600
· $9,000
· $6,300
· $1,800
48. Sampling is used heavily in manufacturing and service settings to ensure high-quality products. In which of the following areas would sampling be inappropriate?
· Cell phone manufacturing
· Custom cabinet making
· Computer assembly
· Technical support by phone
49. Interest may be included in the acquisition cost of a plant asset:
· if the asset is purchased on credit.
· during the construction period of a self-constructed asset.
· if it is a part of a lump-sum purchase.
· if the asset acquisition is financed by a long-term note payable.
50. The owner of a company has recently decided to raise the salary of one employee, who was already making the highest salary, by 20%. Which of the following is(are) expected to be affected by this raise?
· Median only
· Mean and median only
· Mean only
· Mean, median, and mode
Read more:-BUS 475 CAPSTONE FINAL EXAMINATION PART 2
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BUS 475 Capstone Final Examination Part 2
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BUS 475 Capstone Final Examination Part 2 -
BUS 475 Capstone Final Examination Part 2
This is the latest BUS/475 Capstone Final Examination Part 2 (100%)
Which of the following is not a current liability on December 31, 2014?
A lawsuit judgment to be decided on January 10,2015
A Note Payable due December 31 2015
Accrued salaries payable from 2014
An Accounts Payable due January 31,2015
Continuous monitoring, in the contemporary approach, is beneficial because_____________.
it increases the time it takes to detect changes in the competitive environment
organization response time is increased
organizational flexibility is reduced
It reduces time lags
The acquisition of treasury stock by a corporation:
requires that a gain or loss be recognized on the income statement.
increases its total assets and total stockholders’ equity.
has no effect on total assets and total stockholders’ equity.
decreases its total assets and total stockholders’ equity.
You work in marketing for a company that produces work boots. Quality control has sent you a memo detailing the length of time before the boots wear out under heavy use. They find that the boots wear out in an average of 208 days, but the exact amount of time varies, following a normal distribution with a standard deviation of 14 days. For an upcoming ad campaign, you need to know the percent of the pairs that last longer than six months-that is, 180 days. Use the empirical rule to approximate this percent.
97.5%
95%
2.5%
5%
__________involves ensuring proper strategic controls and organizational designs.
Corporate governance
Strategy implementation
Business-level strategy
Corporate-level strategy
A post-closing trial balance will show:
only income statement accounts
zero balances for balance sheet accounts
only balance sheet accounts
zero balances for all accounts
The preparation of adjusting entries is:
straightforward because the accounts that need adjustment will be out of balance
needed to ensure that the expense recognition principle is followed.
only required for accounts that do not have a normal balance.
optional when financial statements are prepared.
In a simple linear regression model, if the plots on a scatter diagram lie on a straight line, what is the standard error of the estimate?
Infinity
0
+1
-1
The fraud triangle applies to:
U.S. and Canadian companies, but not other international companies.
U.S companies but not international companies.
U.S and international companies.
international companies but not U.S. companies.
According to value-chain analysis, which of the following would be considered part of the general administration in a firm?
information systems
procurement
technology development
human resource management
Which of the following can be represented by a discrete random variable?
The circumference of a randomly generated circle
The number of defective light bulbs in a sample of five
The time of a flight between Chicago and New York
The average distance achieved in a series of long jumps
What is an advantage of the correlation coefficient over the covariance?
It falls between 0 and 1.
It falls between -1 and 1.
It falls between -1 and 1; and it is a unit free measure, therefore making it easier to interpret.
It is a unit-free measure, therefore making it easier to interpret.
GAAP, compared to IFRS, tends to be more:
rules-based
simple in accounting requirements
principles-based
simple in disclosure requirements
The resource-based view (RBV) of the firm combines two perspectives:
the internal analysis of the firm and the external analysis of the industry and competitive environment
the primary and support activities of the firm
the industry and the competitive environment
the interrelationships among the primary activities of the firm and corporate management
Sarbanes Oxley applies to:
U.S and international companies.
U.S. and Canadian companies but not other international companies.
U.S companies but not international companies.
international companies but not U.S. companies.
Is it possible for a data set to have no mode?
No, unless there is an odd number of observations
Yes, if two observations occur twice
Yes, if there are no observations that occur more than once
No, if the data set is nonempty, there is always a mode
Under the accrual basis of accounting:
events that change a company's financial statements are recognized in the period they occur rather than in the period in which cash is paid or received.
the ledger accounts must be adjusted to reflect a cash basis of accounting before financial statements are prepared under generally accepted accounting principles.
cash must be received before revenue is recognized.
net income is calculated by matching cash outflows against cash inflows.
Which trial balance will consist of the greatest number of accounts?
Trial balance
Adjusted trial balance
Balance
Post-closing trial balance
Vertical analysis is a technique that expresses each item in a financial statement:
in dollars and cents.
as a percent of a base amount.
as a percent of the item in the previous year.
starting with the highest value down to the lowest value.
Cost allocation of an intangible asset is referred to as:
accretion
amortization
depreciation
capitalization
According to the text, the triple bottom line approach to corporate accounting includes three components:
financial, environmental, and social
financial, organizational, and customer
financial, environmental, and customer
financial, organizational, and psychological
An analyst believes the probability that U.S. stock returns exceed long-term corporate bond returns over a 5-year period is based on personal assessment. This type of probability is best characterized as a(n) ____________.
Subjective probability
Objectivity probability
Empirical probability
A priori probability
Green, Inc. had 200,000 shares of common stock outstanding before a stock split occurred and 800,000 shares outstanding after the stock split. The stock split was:
2-for-8
1-for-8
8-for-1
4-for-1
Firms must be aware of goals other than short-term profit maximization. One area of concern should be social responsibility which is:
the expectation that business will strive to improve the overall welfare of society
the fact that court costs could impact the financial bottom line
the idea that organizations are solely responsible to local citizens
the idea that businesses are responsible to maintain a healthy social climate for their employees
Expenditures that maintain the operating efficiency and expected productive life of a plant asset are generally:
expensed when incurred.
not recorded until they become material in amount.
debited to the Accumulated Depreciation account.
capitalized as a part of the cost of the asset.
For both qualitative and quantitative data, what is the difference between the relative frequency and the percent frequency?
The relative frequency equals the percent frequency multiplied by 100.
The percent frequency equals the relative frequency multiplied by 100
As opposed to the relative frequency, the percent frequency is divided by the number of observations in the data set.
As opposed to the percent frequency, the relative frequency is divided by the number of observations in the data set.
Shaw Industries, a giant carpet manufacturer, increases its control over raw materials by producing much of its own polypropylene fiber, a key input to its manufacturing process. This is an example of _______________.
using related diversification to achieve value by leveraging core competencies to achieve economies of scope
using related diversification to achieve value by pooling negotiating power to achieve market power
using related diversification to achieve value by integrating vertically in order to attain economies of scope
using related diversification to achieve value by integrating vertically in order to acquire market power
Which of the following can be represented by a continuous random variable?
The average temperature in Tampa, Florida, during the month of July
The number of customers who visit a department store between 10:00 a.m. and 11:00 a.m. on Mondays
The number of students who will get financial assistance in a group of 50 randomly selected students
The number of typos found on a randomly selected page of this test bank
Which of the following controls would best help detect the removal of a blank check by an employee from the back of a company's checkbook for subsequent misappropriation of funds?
An accounting policies manual
Tracing any debit memorandums from the bank to the company's records
A review of the cash budget
The use of pre-numbered checks
A SWOT analysis is a framework for analyzing a firm’s environments. A SWOT is made up of
Internal environmental analysis of threats and weaknesses.
Internal strengths and weaknesses; external threats and opportunities.
Internal threats and weakness and external strengths and opportunities.
External analysis of strengths and opportunities.
Trumpeting Trumpets has the following inventory data:
July 1: Beginning inventory
30 units at $120
July 5: Purchases
180 units at $112
July 14: Sale
120 units
July 21: Purchases
90 units at $115
July 30: Sale
84 units
Assuming that a periodic inventory system is used, what is the cost of goods sold on a FIFO basis?
$23,088
$11,022
$10,992
$23,118
Which of these statements regarding the industry life cycle is correct?
It points out the need to maintain a differentiation advantage and a low cost advantage simultaneously.
Trends suggested by the market life cycle model are generally not reversible or repeatable.
It has important implications for company generic strategies, functional areas, value-creating activities, and overall objectives.
Part of the power of the market life cycle is its ability to serve as a short-run forecasting device.
What is a difference between merchandising companies and service enterprises?
Merchandising companies must prepare multiple-step income statements and service enterprises must prepare single-step income statements.
Cost of goods sold is an expense for service enterprises but not for merchandising companies.
The operations in merchandising companies and service enterprises are identical.
Merchandising companies generally have a longer operating cycle than service enterprises.
Which of the following meets the requirements of a simple random sample?
A population contains 10 members under the age of 25 and 20 members over the age of 25. The sample will include six males chosen at random, without regard to age.
A population contains 10 members under the age of 25 and 20 members over the age of 25. The sample will include six people who volunteer for the sample.
A population contains 10 members under the age of 25 and 20 members over the age of 25. The sample will include six people chosen at random, without regard to age.
A population contains 10 members under the age of 25 and 20 members over the age of 25. The sample will include two people chosen at random under the age of 25 and four people chosen at random over 25.
The acquisition of treasury stock by a corporation:
increases its total assets and total stockholders’ equity.
requires that a gain or loss be recognized on the income statement.
has no effect on total assets and total stockholders’ equity.
decreases its total assets and total stockholders’ equity.
WellPoint Health Network states: WellPoint will redefine our industry: through a new generation of consumer-friendly products that put individuals back in control of their future. This is an example of a:
Vision statement
Vague statement of direction
Strategic objective
Line manger’s individual goal
If a corporation issued $8,000,000 in bonds which pay 5% annual interest, what is the annual net cash cost of this borrowing if the income tax rate is 30%?
$400,000
$120,000
$4,000,000
$280,000
International Financial Reporting Standards (IFRS):
implies that receivables with different characteristics should be reported separately.
implies that receivables with different characteristics should be reported as one un-segregated amount.
requires that receivables with different characteristics should be reported as one un-segregated amount.
requires that receivables with different characteristics should be reported separately.
Assume that the Fitzgerald Corporation uses the indirect method to depict cash flows. Indicate where, if at all, accounts receivable collected would be classified on the statement of cash flows.
Does not represent a cash flow.
Operating activities section.
Financing activities section.
Investing activities section.
Shaw Industries, a giant carpet manufacturer, increases its control over raw materials by producing much of its own polypropylene fiber, a key input to its manufacturing process. This is an example of _______________.
using related diversification to achieve value by integrating vertically in order to acquire market power
using related diversification to achieve value by leveraging core competencies to achieve economies of scope
using related diversification to achieve value by pooling negotiating power to achieve market power
using related diversification to achieve value by integrating vertically in order to attain economies of scope
In multiple regression, plot the residuals against ____ to detect changing variability.
The response variable
The predicted values
Collinear variables
All explanatory variables
On March 1st, Candy, Inc. had supplies on hand of $1,500. During the month, Candy purchased supplies of $2,900 and used supplies of $2,800. The March 31st balance sheet should report what balance in their supplies account?
$2,800
$1,500
$1,600
$2,900
Which of the following requirements about internal controls were enacted under the Sarbanes Oxley Act:
Companies must assess the functionality of internal controls only when a violation occurs.
Companies must develop sound internal controls over financial reporting.
Independent outside auditors must eliminate redundant internal controls.
Internal auditors replace independent outside auditors when evaluating the level of internal control.
The four key attributes of strategic management include the idea that:
Strategy must be focused on competitor strengths.
Strategy must be directed toward overall organizational goals and objectives.
Strategy must be focused on one specific area of an organization.
Strategy must be focused on long-term objectives.
Which financial statement would best indicate whether the company relies on debt or stockholders’ equity to finance its assets?
Statement of cash flows
Retained earnings statement
Income statement
Balance sheet
When collection is made on Accounts Receivable,
total assets will decrease.
stockholders equity will increase.
total assets will increase.
total assets will remain the same.
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?
$12,600
$9,000
$6,300
$1,800
Sampling is used heavily in manufacturing and service settings to ensure high-quality products. In which of the following areas would sampling be inappropriate?
Cell phone manufacturing
Custom cabinet making
Computer assembly
Technical support by phone
Interest may be included in the acquisition cost of a plant asset:
if the asset is purchased on credit.
during the construction period of a self-constructed asset.
if it is a part of a lump-sum purchase.
if the asset acquisition is financed by a long-term note payable.
The owner of a company has recently decided to raise the salary of one employee, who was already making the highest salary, by 20%. Which of the following is(are) expected to be affected by this raise?
Median only
Mean and median only
Mean only
Mean, median, and mode
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BUS 475 Capstone Final Examination Part 1
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