Identify the company’s domestic environment and discuss how the government regulations affect its domestic enviro Identify the company’s domestic environment and discuss how the government regulations affect its domestic enviro Question BUSN310 final simulation projectUsing the company your Instructor approved from week 1 assignment, complete the following: 1. Identify the company’s domestic environment and discuss how the government regulations affect its domestic environment it must operate in. 2. Identify a global environment for the company and discuss how the government regulations affect its global environment it must operate in. 3. Identify the hard and soft technology and interpret the characteristics the company should have/use to be successful in its domestic and global environment. 4. Identify the political-legal barriers for the company in both the domestic and global environments. Use business theory/theorists to illustrate how the company can operate successfully in its domestic and global environment. 5. Identify, compare, and contrast sociocultural factors of the domestic and global environments of the company. 6. Compare and contrast two economic theories for both the domestic and global environments of the company. 7. Develop a strategy of success based on your evaluation of steps 1-6 by assessing what you’ve learned through your research and readings and compare what the company has been doing to what you recommend they should be doing. You cannot state that you would not change anything. 8. You must incorporate critical thinking (see resources). 9. Research requirement: minimum 5 sources PLUS the text and Geert Hofstede. 10. Page requirement: 7 pages in APA format (does not count cover page and reference page). 11. Assignment MUST be submitted to turnitin.com and here (see turnitin.com forum for more important information). LO - 8 - Given a company, the student will be able to identify the studied environments (domestic, global, technological, political-legal, sociocultural, and economic) of that company, combine these environments, and develop a final analysis that synthesizes government regulations for the domestic and global environments, hard and soft technology for the company, the political-legal barriers for the company in the domestic and global environments, the sociocultural factors of the domestic and global environments of the company, and two economic theories for the domestic and global environments.
BBA 3651 Assessment III BBA 3651 Assessment III Question Question 1 Emotional intelligence is related to effective leadership because:Answerthe emotional state of the leader affects the entire group.emotional intelligence enables leaders to respect followers.both the emotional state of the leader affects the entire group and emotional intelligence enables leaders to respect followers.emotional abilities play a key role in technical expertise.4 points Question 2 Individuals differ in how they order values into priorities because of their:Answerlifestyles.personal interests.agreeableness.culture and family background.4 points Question 3 Weakened trust and communication, afraid to speak up, and destroying the opportunity for feedback are examples of problems in an organization caused by:Answerlack of communication.weak personality.leading with fear.vulnerable working relationship.4 points Question 4 Research indicates that leaders in the real world are about equally divided:Answerbetween internals and externals.between Quadrant A and Quadrant D thinkers.between extraverts and introverts.between Theory X and Theory Y behavior.4 points Question 5 When the perceiver develops an overall impression of a person or situation based on one characteristic, __________ occurs.Answerprojectionperceptual defensethe halo effectexternal attribution4 points Question 6 Why do values affect leadership?AnswerValues misguide a leader's choices and actions.Values obstruct leaders to envision business opportunities and social relationship.Values create negative relationship between leader and followers, as well as competitors.Values help determine the attitudes leaders have about themselves and about their followers.4 points Question 7 Personal vision, facing reality, and holding creative tension are the components of:Answerperceptual distortion.stereotyping.emotional intelligence.personal mastery.4 points Question 8 What is a factor from the attribution theory that refers to whether other people tend to respond to similar situations in the same way?AnswerDistinctiveness.ConsistencyConsensusCognition4 points Question 9 The degree to which a person has a broad range of interests and is imaginative, creative, and willing to consider new ideas is called __________.Answeremotional stabilityextroversionagreeablenessopenness to experience4 points Question 10 The Myers-Briggs Type Indicator (MBTI):Answerexpresses the belief that workers dislike their jobs.grew out of work by psychologist Jeff Koeze.is a personality test that measures how individuals solve problems.determines whether a situation is favorable or unfavorable.4 points Question 11 Extraversion is often considered a “good” quality for a leader to have. Why might introversion be considered an equally positive quality?Your response should be at least 200 words in length. You are required to use at least your textbook as a source material for your response. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations.Answer30 points Question 12 Compare and contrast leading with fear or leading with love in the workplace? How can love be used positively in the workplace?Your response should be at least 200 words in length. You are required to use at least your textbook as a source material for your response. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations.
economics data bank economics data bank Question 13.The following table provides information on the price, quantity, and average cost for a monopoly. At what price will the firm maximize its profit? Price Output ATC $5 0 ?? $4 4 $1.00 $3 8 $0.75 $2 12 $0.75 $1 16 $0.81 $0 20 $0.90 a.$1 b.$2 c.$3 d.$4 14George and Jerry are competitors in a local market. Each is trying to decide if it is better to advertise on TV, on radio, or not at all. If they both advertise on TV, each will earn a profit of $3,000. If they both advertise on radio, each will earn a profit of $5,000. If neither advertises at all, each will earn a profit of $10,000. If one advertises on TV and the other advertises on radio, then the one advertising on TV will earn $4,000 and the other will earn $2,000. If one advertises on TV and the other does not advertise, then the one advertising on TV will earn $8,000 and the other will earn $5,000. If one advertises on radio and the other does not advertise, then the one advertising on radio will earn $9,000 and the other will earn $6,000. If both follow their dominant strategy, then George will a.advertise on TV and earn $3,000. b.advertise on radio and earn $5,000. c.advertise on TV and earn $8,000. d.not advertise and earn $10,000. Table 1.The information in the table below shows the total demand for premium?channel digital cable TV subscriptions in a small urban market. Assume that each digital cable TV operator pays a fixed cost of $200,000 (per year) to provide premium digital channels in the market area and that the marginal cost of providing the premium channel service to a household is zero. Quantity Price (per year) 0 $180 3,000 $150 6,000 $120 9,000 $ 90 12,000 $ 60 15,000 $ 30 18,000 $ 0 15.Refer to Table 1. Assume there are two profit?maximizing digital cable TV companies operating in this market. Further assume that they are not able to collude on the price and quantity of premium digital channel subscriptions to sell. What price will premium digital channel cable TV subscriptions be sold at when this market reaches a Nash equilibrium? a.$30 b.$60 c.$90 d.$120 16.Refer to Table 1. Assume there are two profit?maximizing digital cable TV companies operating in this market. Further assume that they are not able to collude on the price and quantity of premium digital channel subscriptions to sell. How many premium digital channel cable TV subscriptions will be sold altogether when this market reaches a Nash equilibrium? a.6,000 b.9,000 c.12,000 d.15,000 17.Refer to Table 1. Assume that there are two profit?maximizing digital cable TV companies operating in this market. Further assume that they are not able to collude on the price and quantity of premium digital channel subscriptions to sell. How much profit will each firm earn when this market reaches a Nash equilibrium? a.$25,000 b.$90,000 c.$160,000 d.$215,000 18.A monopolist a.has a supply curve that is upward?sloping, just like a competitive firm. b.does not have a supply curve because the monopolist sets its price at the same time it chooses the quantity to supply. c.has a horizontal supply curve, just like a competitive firm. d.does not have a supply curve because marginal revenue exceeds the price it charges for its products. 19.One advantage of allowing a market for pollution permits to control the total amount of pollution released in an area is that a.the government knows exactly how much each firm is allowed to pollute. b.government revenue from the sale of permits is greater than revenue from a Pigovian tax. c.the initial allocation of permits to firms does not affect the efficiency of the market. d.firms will work together to eventually eliminate pollution. 20.Suppose when a monopolist produces 75 units its average revenue is $10 per unit, its marginal revenue is $5 per unit, its marginal cost is $6 per unit, and its average total cost is $5 per unit. What can we conclude about this monopolist? a.The monopolist is currently maximizing profits, and its total profits are $375. b.The monopolist is currently maximizing profits, and its total profits are $300. c.The monopolist is not currently maximizing profits; it should produce more units and charge a lower price to maximize profits. d.The monopolist is not currently maximizing profits; it should produce fewer units and charge a higher price to maximize profits. 21.In a competitive market with identical firms, a.an increase in demand in the short run will result in a new price above the minimum of average total cost, allowing firms to earn a positive economic profit in both the short run and the long run. b.firms cannot earn positive economic profit in either the short run or long run. c.firms can earn positive economic profit in the long run if the long?run market supply curve is upward sloping. d.free entry and exit into the market requires that firms earn zero economic profit in the long run even though they may be able to earn positive economic profit in the short run. 22.The supply curve of a perfect competitor in the short run is: a.Marginal revenue curve. b.Marginal cost curve. c.Average revenue curve d.Marginal cost curve above its average variable cost curve 23.A monopolistically competitive firm faces a demand curve, P=20?Q, and earns zero profit. The firm produces at a constant marginal cost of 2. What is the fixed cost for this firm? a.18 b.64 c.81 d.Cannot be determined from the information given. 24.At 47 units of labor, a firm finds that average product of labor equals 39.6 and marginal product of labor equals 32.9. We can conclude that the average product curve at 47 units of labor is: a.upward?sloping. b.horizontal. c.vertical. d.downward?sloping.
Comprehensive Examination Comprehensive Examination Question Problem D-I — Treasury Stock The stockholders' equity section of Carey Co.'s balance sheet at December 31, 2012, was as follows: Common stock--$10 par (authorized 1,000,000 shares, issued and outstanding 600,000 shares) $ 6,000,000 Paid-in capital in excess of par 1,500,000 Retained earnings 3,250,000 $10,750,000 Instructions Prepare journal entries (1, 2, and 4) and show proper disclosure (3) to reflect the following treasury stock transactions showing how each is accounted for under the cost method. (Show computations.) 1. On January 4, 2013, having idle cash, Carey Co. repurchased 20,000 shares of its out-standing stock for $500,000. 2. On March 4, Carey sold 5,000 of these reacquired shares at $28 per share. 3. Show the proper disclosures in the stockholders' equity section of the balance sheet issued at the end of the first quarter, March 31, 2013. Assume net income of $100,000 during the first quarter. 4. On June 30, 2013 the firm sold 10,000 of the reacquired shares for $21 per share. *Problem D-II — Cash Dividends Bell Company has stock outstanding as follows: Common, $10 par value per share, 140,000 shares; Preferred, 5%; $100 par value per share, 8,000 shares. The Preferred is cumulative and participating up to an additional 4% of par; two years are in arrears (not including the current year); and the total amount of cash dividends declared for both classes of stock is $230,000. Instructions Prepare the entry for the dividend declaration, separating the dividend into the common and preferred portions. Problem D-III — Stock Dividends and Stock Splits Stock dividends and stock splits are common forms of corporate stock distribution to stockholders. Consider each of the numbered statements. You are to decide whether it: A. Applies to both stock dividends and stock splits. B. Applies to neither. C. Applies to stock splits only. D. Applies to stock dividends only. E. Applies to stock splits effected in the form of a dividend only. F. Applies to both stock splits effected in the form of a dividend and a stock dividend. (In each instance, the issuing company has only one class of stock.) Instructions Print next to the number of each statement below, the single capital letter of the description which applies to the statement. Statements ____ 1. The distribution is a multiple as contrasted to a fraction of the number of shares previously outstanding. ____ 2. The total number of shares outstanding is increased. ____ 3. The individual stockholder's share of net assets is increased. ____ 4. There is no transfer between retained earnings and capital stock accounts, other than to the extent occasioned by legal requirements. ____ 5. There is no change in the total stockholders' equity of the issuing corporation. ____ 6. The retained earnings available for dividends are increased. ____ 7. Retained earnings in the amount of the distribution are transferred to capital stock, in some instances in an amount in excess of that required by the laws of the state of incorporation. ____ 8. Subsequent per-share earnings, if any, are decreased. ____ 9. The par (or stated value) of the stock is unchanged. Problem D-IV — Earnings Per Share Concepts Indicate which of the following securities would be included in the computation of "basic earnings per share," and which would be included in the computation of "diluted earnings per share." Place a "B" before those which affect only basic EPS, a "D" before those which affect only diluted EPS, a "BD" before those which affect both basic and diluted EPS, and an "N" before those securities which do not affect EPS computations. Assume that, where applicable, the appropriate securities are dilutive. ____ 1. Warrants to purchase additional common shares. ____ 2. Common stock. ____ 3. Nonconvertible debenture bonds. ____ 4. Convertible, noncumulative preferred stock. ____ 5. Cumulative, nonconvertible preferred stock. ____ 6. Convertible bonds. ____ 7. Executive stock options. ____ 8. Notes payable. Problem D-V — Earnings Per Share Computations Jones, Inc. has net income (30% tax rate) of $1,200,000 for 2013, and an average number of shares outstanding during the year of 500,000 shares. The corporation issued $2,000,000 par value of 10-year, 9% convertible bonds on January 1, 2011 at a $180,000 discount. The convertible bonds are convertible into 70,000 shares of common stock. Assume the company uses the straight-line method for amortizing bond discount. Instructions Compute the earnings per share data, excluding any notes if required. Problem D-VI — Basic and Diluted Earnings Per Share Assume that the following data relate to Rosen, Inc. for the year 2013: Net income (30% tax rate) $3,000,000 Average common shares outstanding 2013 1,000,000 shares 10% cumulative convertible preferred stock: Convertible into 80,000 shares of common $1,600,000 8% convertible bonds; convertible into 75,000 shares of common $2,500,000 Stock options: Exercisable at the option price of $25 per share; average market price in 2013, $30 84,000 shares Instructions Compute (a) basic earnings per share, and (b) diluted earnings per share. Problem D-VII —Available-for-Sale Equity Investments On January 2, 2012, Norwin Company purchased 1,000 shares of Oslo Company common stock for $30,000. The stock has a par value of $10 and is part of the total stock outstanding of 20,000 shares of Oslo Company. Norwin Company intends the stock to be available for sale. Total stockholders' equity of Oslo Company on January 2, 2012 was $600,000. Instructions Prepare necessary journal entries on the books of Norwin Company for the following transactions. If no entry is required, write "none" in the space provided. (Round all calculations to the nearest cent.) (a) January 2, 2012: Norwin purchases the shares described above. (b) December 31, 2012: Norwin receives a $.75 per share dividend from Oslo, and Oslo announces a net income for 2012 of $250,000. (c) December 31, 2012: According to The Wall Street Journal, Oslo common is selling for $27 per share. Norwin's management views this decline as being only temporary in nature. Oslo's common is Norwin's only available-for-sale security. (d) February 15, 2013: Norwin sells 500 of the shares purchased on January 2, 2012 at $32 per share. Problem D-VIII — Trading Securities The information below relates to Milton Company's trading securities in 2012 and 2013. (a) Prepare the journal entries for the following transactions. January 1, 2012 Purchased $300,000 par value of GLF Company bonds at 97 plus accrued interest. The bonds pay interest annually at 9% each December 31. Broker's commission was $3,000. September 1, 2012 Sold $150,000 par value of GLF Company bonds at 94 plus accrued interest. Broker's commission, taxes, and fees were $1,500. September 5, 2012 Purchased 5,000 shares of Hayes, Inc. common stock for $30 per share. The broker's commission on the purchase amounted to $2,000. December 31, 2012 Make the appropriate entry for the GLF Company bonds. December 31, 2012 The market prices of the trading securities at December 31 were: Hayes, Inc. common stock, $31 per share; and GLF Company bonds, 99. Make the appropriate entry. July 1, 2013 Milton sold 1/2 of the Hayes, Inc. common stock at $32 per share. Broker's commissions, taxes, and fees were $1,000. December 1, 2013 Milton purchased 600 shares of Ramirez, Inc. common stock at $45 per share. Broker's commission was $500. December 31, 2013 Make the appropriate entry for the GLF Company bonds. December 31, 2013 The market prices of the trading securities at December 31 were: Hayes, Inc. common stock, $34 per share; GLF Company bonds, 98; and Ramirez, Inc. common stock, $47 per share. Make the appropriate entry. (b) Present the financial statement disclosure (balance sheet and income statement) of Milton Company's transactions in trading securities for each of the years 2012 and 2013. Appropriate financial statement subheadings must be disclosed.
AIU BUSN311 Midterm exam AIU BUSN311 Midterm exam Question Question 1 of 205.0 PointsIn pre-trial discovery, if a business does not produce incriminating e-mails the court can instruct the jury that it can make negative inferences from the lost documents.A.TrueB.FalseQuestion 2 of 205.0 PointsIn litigation, indirect non-legal costs are roughly the same amount as direct legal costs.A.TrueB.FalseQuestion 3 of 205.0 PointsAll of the following are ways to lower business risk except:A.stick to company businessB.always be respectful, courteous and constructiveC.keep matters confidentialD.take shortcuts to increase profitsQuestion 4 of 205.0 PointsIssuing a public apology for corporate wrongdoing will always result in increased litigation.A.TrueB.FalseQuestion 5 of 205.0 PointsWhen answering a complaint the defendant can do all of the following except:A.deny the allegations set forth in the complaintB.list defensesC.admit to the allegations set forth in the complaintD.defer answering for 180 daysQuestion 6 of 205.0 PointsAll of the following are methods of alternative dispute resolution except for:A.mediationB.litigationC.arbitrationD.settlementQuestion 7 of 205.0 PointsThe monetary damage award set out by the court is the amount the prevailing party is guaranteed to receive from the losing party.A.TrueB.FalseQuestion 8 of 205.0 PointsExamples of antitrust activities include all of the following except for:A.price fixingB.allocation of marketsC.standardization among trade association membersD.concerted refusal to dealQuestion 9 of 205.0 PointsThe grant of a patent is a limited "monopoly" and can run counter to the antitrust principle encouraging free and open markets.A.TrueB.FalseQuestion 10 of 205.0 PointsAll of the following are a type of contract except:A.ExpressB.ImpliedC.EnduringD.UnilateralQuestion 11 of 205.0 PointsWhich of the following is not a form of business organization?A.Limited Liability CorporationB.PartnershipC.Sole ProprietorshipD.CorporationQuestion 12 of 205.0 PointsIdentify the correct statement about liability in business organizationsA.A partner is not responsible for the debts of the partnership.B.A sole proprietor is personally liable for all debts of the business.C.A shareholder is responsible for the debts of the corporation.D.A member is personally liable for the debts of the LLC.Question 13 of 205.0 PointsThe revenue from a Chapter C corporations is taxed twice.A.TrueB.FalseQuestion 14 of 205.0 PointsThe test for mental capacity to enter into a contract is whether the person has reached the age of majorityA.TrueB.FalseQuestion 15 of 205.0 PointsA partnership must prepare an income tax return but the partnership pays no income taxes itself.A.TrueB.FalseQuestion 16 of 2010.0 PointsUsing only the course materials, describe three differences between a limited liability company and a corporation. Cite your sources.Question 17 of 2010.0 PointsUsing only the course materials, list and provide examples for five defenses to a breach of contract claim. Cite your sources.Question 18 of 2010.0 PointsList three types of contracts that must be in writing in order to be enforceable. What doctrine applies here? Use only the course materials and cite your sources.Question 19 of 2010.0 PointsJim wants to sell his car to Marsha . Describe what elements would need to be present in order to have a valid contract. Would this contract fall under the UCC? Why or why not? Use only the course materials and cite your sources.Question 20 of 2010.0 PointsList at least three factors that weigh in favor of patents. List three factors that weigh in favor of trade secrets. Use only the course materials and cite your sources.
BM350 Marketing Management assignment 7 and 8 BM350 Marketing Management assignment 7 and 8 Question Assignment 07BM350 Marketing Management Directions: Sources must be cited in APA format. Your response should be a minimum of (1) single-spaced page to a maximum of (2) pages in length; refer to the "Assignment Format" page for specific format requirements.Case 11: harleydavidson.com and the Global Motorcycle Industry (pp. 354-358) This case discusses the success of Harley-Davidson and reviews its global position in 1998. It discusses the company's initiatives that continued a thirteen-year record of growth in revenues and earnings. The company had a phenomenal 74 percent increase in the value of the firm in 1998 alone. It offers market share and sales information for global competitors in three regions, North America, Europe, and Asia/Pacific, and briefly discusses the product offerings of competitors including BMW, Honda, Kawasaki, Suzuki, and Yamaha. The case has been kept relatively short since the Web sites for Harley and its competitors contain abundant additional information. The major objective of the case is to get you to visit these Web sites, compare them, and evaluate them as strategic marketing toolsQuestions1. Why is the Internet a particularly good promotion medium for Harley-Davidson? Discuss at least three (3) reasons. (55 points)2. What different roles could Harley-Davidson’s Web site play for Harley owners, for people shopping for a motorcycle, and for people just interested in motorcycles in general? (45 points)Assignment 08BM350 Marketing Management Directions: Sources must be cited in APA format. Your response should be a minimum of (1) single-spaced page to a maximum of (2) pages in length; refer to the "Assignment Format" page for specific format requirements.Case 22: Cowgirl Chocolates (pp. 488-500) Marilyn Lysohir, an internationally celebrated ceramic artist, started Cowgirl Chocolates to provide some funding support for a yearly published arts magazine, High Ground, that she and her husband, Ross Coates, started in 1995. Her love of chocolates and hot and spicy foods spurred the idea of making hot and spicy chocolates to be sold in creative, artistic tins and packaging, which she labeled Cowgirl Chocolates. Her small business, begun in 1997, had won a number of awards in fiery food competitions. While Cowgirl Chocolates had grown steadily over its four years in business, it still had only generated $30,000 in sales revenue in 2000, which was not enough to cover expenses. Marilyn had drained much of her personal savings to keep Cowgirl Chocolates in business. Her cash accounting methods and record keeping were not very sophisticated although she seemed to have a good sense of her costs in production and raw materials and the packaging. However, Marilyn had taken a shotgun approach to most of her marketing efforts and had tried a number of activities to increase product demand. She allowed herself to make one risky financial move each year in her pursuit of profitability and increased sales. She had just made her one risky move for year 2001: She had taken out a full-page ad in Chile Pepper magazine for $3,000.Questions1. The suggested retail price and wholesale prices of Cowgirl Chocolates products are displayed in Exhibit 2 (p. 491) along with the product and packaging costs. Based on this information, discuss the relative merits of using a cost-based, demand-based, and competition-based pricing method. (50 points)2. What are four (4) options that Cowgirl Chocolates may consider as far as pricing? What would you recommend? (50 points)
Question_Doc14_15Dec_12th Question_Doc14_15Dec_12th Question 14) Which of the following statements concerning pollution is correct? A) Economic efficiency requires that pollution be completely eliminated. B) Economic efficiency dictates that the optimal amount of pollution arises at the point at which price equals private marginal cost. C) Pollution should be reduced to the point at which the marginal benefit from further reduction equals the marginal cost of further reduction. D) Pollution should be reduced to the extent necessary to return production to the production possibilities frontier. 15) In economic analysis, the optimal level of pollution A) is always zero. B) arises at the point at which the marginal benefit from further reduction equals the marginal cost of further reduction. C) occurs at the point at which demand crosses the private cost supply curve. D) should be determined by the private market without any government intervention. 16) From an economic standpoint, the amount of pollution should be A) zero. B) the amount that allows firms to maximize profits. C) the amount where firms are earning a normal rate of return on investment. D) at the point at which the marginal benefit from further reduction equals the marginal cost of further reduction. 17) The optimal amount of pollution is not zero because A) it has been found that pollution in moderate amounts actually has positive benefits. B) there are no benefits to anyone from having zero pollution. C) zero pollution would be too costly. D) we don't have the political structure that could accomplish the goal. 18) The marginal benefit of pollution abatement A) increases at an increasing rate as abatement increases. B) decreases as pollution abatement increases because of the law of diminishing marginal utility. C) increases as pollution abatement increases because of the law of increasing marginal returns. D) is constant as pollution abatement increases. 19) The costs of pollution abatement A) increase at an increasing rate with the increase in pollution abatement. B) increase at a decreasing rate with the increase in pollution abatement. C) decrease at an increasing rate with the increase in pollution abatement. D) decrease at a decreasing rate with the increase in pollution abatement. 20) Refer to the above figure. The marginal cost of pollution abatement is curve A) (1). B) (2). C) (3). D) (4). 21) Refer to the above figure. The marginal benefit of pollution abatement is curve A) (1). B) (2). C) (3). D) (4). 22) Refer to the above figure. If the marginal cost curve for pollution abatement shifts to the right, everything considered, the A) degree of air quality or cleanliness will also decrease. B) the degree of air quality or cleanliness will stay unchanged. C) the degree of air quality will improve. D) the marginal cost of pollution abatement has nothing to do with air quality. 23) Refer to the above figure. Suppose the marginal benefit and the marginal cost curves of pollution abatement are normally shaped. Technological change that made it easier to produce in a "cleaner" fashion would cause A) curve (4) to shift out, increasing the optimal amount of pollution abatement. B) curve (3) to shift up, raising the marginal benefits and costs and reducing the amount of pollution abatement. C) curve (2) to shift out, increasing the optimal amount of pollution abatement. D) curve (1) to shift out, increasing the optimal amount of pollution abatement. 24) Refer to the above figure. Suppose the marginal benefit and the marginal cost curves of pollution abatement are normally shaped. Suppose the equilibrium is for a factory in Los Angeles. What would happen if the same factory were in the middle of Nevada? A) The marginal cost curve (1) would shift to (2) and there would be no difference in the level of abatement. B) The marginal cost curve (2) would shift to the left and there would be less abatement in Nevada. C) The marginal benefit curve (4) would shift to the left and there would be less abatement in Nevada. D) The marginal benefit curve (2) would shift to the right and there would be more abatement in Nevada. 25) The marginal cost curve of pollution abatement is A) downward sloping. B) upward sloping. C) horizontal. D) vertical. 26) Technological change that makes it easier to produce in a "cleaner" fashion would cause A) the marginal cost curve of pollution abatement to shift left, increasing the degree of air quality. B) the marginal cost curve of pollution abatement to shift right, increasing the degree of air quality C) the marginal benefit curve of pollution abatement to shift right, increasing the degree of air quality D) the marginal benefit curve of pollution abatement to shift left, increasing the degree of air quality 27) Suppose people value clean air more as their incomes increase, then A) the marginal cost curve of pollution abatement to shift left, increasing the degree of air quality. B) the marginal cost curve of pollution abatement to shift right, increasing the degree of air quality C) the marginal benefit curve of pollution abatement to shift right, increasing the degree of air quality D) the marginal benefit curve of pollution abatement to shift left, increasing the degree of air quality 28) The marginal cost curve of pollution abatement A) slopes upward because of the law of diminishing product. B) slopes upward because firms will maximize profits. C) slopes downward because of the law of diminishing marginal utility. D) slopes downward because of the law of diminishing returns. 29) The optimal amount of air pollution is A) found by equating the marginal benefits from reducing pollution by one more unit with the marginal costs of reducing pollution by an additional unit. B) found by equating the total benefits from reducing pollution by one more unit with the total costs of reducing pollution by an additional unit. C) found by setting the marginal benefits from reducing pollution by one more unit equal to zero. D) a meaningless concept since we cannot monetize the environment. 30) Which of the following statements is true about the optimal quantity of pollution? A) It equals zero. B) Pollution abatement should continue up to the point where marginal cost equals the average total cost. C) Trade-offs exist between producing a cleaner environment and producing other goods and services. D) Firms should be allowed to determine the profit-maximizing amount of pollution abatement. 31) Why is the optimal quantity of pollution not less than the point at which the marginal benefit equals the marginal cost? A) The point of intersection occurs at a low level of pollution. B) There are no external costs below that level. C) Below that point firms will have to reduce the quantity that they are currently producing and lower the price. D) Below that point the value that people place on less pollution is less than the cost of reducing the pollution. 32) In the above figure, the optimal level of pollution cleanup is A) Q1. B) Q2. C) Q3 D) Q4 33) In the above figure, if a firm is cleaning up Q4 units of pollution, it is an A) efficient solution, because marginal social benefits are greater than marginal social costs. B) efficient solution, because marginal social benefits are equal to marginal social costs. C) inefficient solution, because marginal social benefits are greater than marginal social costs. D) inefficient solution, because marginal social costs are greater than marginal social benefits. 34) In the above figure, if a firm is cleaning up Q2 units of pollution, it is an A) efficient solution, because marginal social benefits are greater than marginal social costs. B) efficient solution, because marginal social benefits are equal to marginal social costs. C) inefficient solution, because marginal social benefits are greater than marginal social costs. D) inefficient solution, because marginal social costs are greater than marginal social benefits. 35) In the above figure, if a firm is cleaning up Q3 units of pollution, it is an A) efficient solution because marginal social benefits are greater than marginal social costs. B) efficient solution because marginal social benefits are equal to marginal social costs. C) inefficient solution because marginal social benefits are greater than marginal social costs. D) inefficient solution because marginal social costs are greater than marginal social benefits. 36) According to economic analysis, the optimal quantity of pollution exists at the point at which the A) total benefit of pollution control is equal to the total cost. B) marginal benefit of pollution control is equal to the marginal cost. C) level of pollution is at zero. D) level of pollution is acceptable to the society. 37) Pollution A) creates a negative externality. B) is increased when property rights are defined. C) is the result of capitalism. D) exists because air and water are privately owned resources. 38) The idea that it takes 90 percent of your time to clean up the last 10 percent of your house illustrates that A) the marginal cost of cleaning up slopes downward. B) the marginal cost of cleaning up slopes upward. C) the marginal benefit of cleaning up is constant. D) the marginal benefit of cleaning up slopes upward. 39) The marginal benefit of the pollution abatement curve A) has a zero slope. B) has a positive slope. C) slopes upward. D) slopes downward. 40) Voluntary agreements about cleaning up pollution attempt to A) internalize externalities. B) internalize private costs. C) externalize social costs. D) externalize private costs. 41) Generally, as levels of pollution are reduced, A) marginal benefits from the reduction decrease. B) marginal benefits from the reduction increase. C) marginal costs from the reduction decrease. D) marginal cost from the reduction are constant. . 42) Generally, as levels of pollution are reduced, A) marginal benefits from the reduction increase. B) marginal costs from the reduction increase. C) marginal costs from the reduction stay the same. D) marginal costs from the reduction decrease. 43) The level of pollution at which the marginal benefits equal the marginal cost of cleaning up is always A) the zero pollution level. B) the optimal quantity of pollution. C) the pollution maximum. D) the pollution minimum. 44) In the above figure, A) the optimal degree of air cleanliness is less than 100 percent. B) the marginal cost curve slopes up because of the law of diminishing returns. C) Neither A nor B are correct. D) Both A and B are correct. 45) The optimal quantity of pollution in the above figure A) is defined as the level where the marginal benefit is at a maximum. B) is where the optimal degree of air cleanliness is 100 percent. C) is the level of pollution at which the marginal benefit equals the marginal cost. D) cannot be determined. 46) The above table shows marginal costs and marginal benefits of clean air in a particular industrial area. In the table, when the quantity of clean air is at 25 percent, A) the quantity of polluted air is 25 percent. B) the marginal benefit of clean air exceeds the marginal cost. C) the marginal benefit of clean air is less than the marginal cost. D) the quantity of clean air is optimal. 47) The above table shows marginal costs and marginal benefits of clean air in a particular industrial area. In the table, when the quantity of clean air is at 75 percent, A) the quantity of polluted air is 75 percent. B) the marginal benefit of clean air exceeds the marginal cost. C) the marginal benefit of clean air is less than the marginal cost. D) the quantity of clean air is optimal. 48) In the above table, the optimal quantity of clean air is A) 25 percent. B) 50 percent. C) 75 percent. D) 100 percent. 49) The marginal cost of pollution abatement is the A) additional cost to clean up an additional unit of pollution. B) additional benefit from cleaning up an additional unit of pollution. C) total social costs of pollution clean-up divided by total social benefits. D) total social costs of pollution clean-up divided by the total units of clean-up. Answer: A50) The marginal benefit of pollution abatement is the A) additional cost to clean up an additional unit of pollution. B) additional benefit from cleaning up an additional unit of pollution. C) total social costs of pollution clean-up divided by total social benefits. D) total social costs of pollution clean-up divided by the total units of clean-up. 51) Explain how the optimal quantity of air pollution is determined. Answer: As the air becomes cleaner, the marginal benefit of air cleanliness diminishes, reflecting the fact that the more clean air we breathe, the less we value an additional unit of cleanliness. The marginal cost of air cleanliness increases as air becomes cleaner, however, reflecting the fact that attaining each additional unit of air cleanliness requires incurring higher additional costs. The optimal amount of air cleanliness (or the optimal amount of pollution) arises at the point at which the marginal benefit of clean air equals the marginal cost. 52) "The optimal level of pollution is zero." Do you agree or disagree? Why? . 53) Suppose people value clean air more as their incomes increase. What would happen to the optimal amount of clean air as a country develops economically? Is there an economic prediction we can make from this?
ACCT4110 Exam3 ACCT4110 Exam3 Question Question 1 3 / 3 points Mint Corporation has several transactions with foreign entities. Each transaction is denominated in the local currency unit of the country in which the foreign entity is located. On October 1, 20X8, Mint purchased confectionary items from a foreign company at a price of LCU 5,000 when the direct exchange rate was 1 LCU = $1.20. The account has not been settled as of December 31, 20X8, when the exchange rate has decreased to 1 LCU = $1.10. The foreign exchange gain or loss on Mint's records at year-end for this transaction will be: a) $500 loss b) $500 gain c) $378 gain d) $5,500 loss Question 2 3 / 3 points On December 5, 20X8, Texas based Imperial Corporation purchased goods from a Saudi Arabian firm for 100,000 riyals (SAR), to be paid on January 10, 20X9. The transaction is denominated in Saudi riyals. Imperial's fiscal year ends on December 31, and its reporting currency is the U.S. dollar. The exchange rates are: Based on the preceding information, what journal entry would Imperial make on December 31, 20X8, to revalue foreign currency payable to equivalent U.S. dollar value? a) Option A b) Option B c) Option C d) Option D Question 3 3 / 3 points On December 5, 20X8, Texas based Imperial Corporation purchased goods from a Saudi Arabian firm for 100,000 riyals (SAR), to be paid on January 10, 20X9. The transaction is denominated in Saudi riyals. Imperial's fiscal year ends on December 31, and its reporting currency is the U.S. dollar. The exchange rates are: Based on the preceding information, what journal entry would Imperial make on January 10, 20X9, to revalue foreign currency payable to equivalent U.S. dollar value? a) Option A b) Option B c) Option C d) Option D Question 4 3 / 3 points On December 5, 20X8, Texas based Imperial Corporation purchased goods from a Saudi Arabian firm for 100,000 riyals (SAR), to be paid on January 10, 20X9. The transaction is denominated in Saudi riyals. Imperial's fiscal year ends on December 31, and its reporting currency is the U.S. dollar. The exchange rates are: Based on the preceding information, what was the overall foreign currency gain or loss on the accounts payable transaction? a) $300 loss b) $200 loss c) $100 gain d) $200 gain Question 5 3 / 3 points Note: This is a Kaplan CPA Review Question On September 22, 20X1, Yumi Corp. purchased merchandise from an unaffiliated foreign company for 10,000 units of the foreign company's local currency. On that date, the spot rate was $.55. Yumi paid the bill in full, six months later, on March 20, 20X2, when the spot rate was $.65. The spot rate was $.70 on December 31, 20X1. What amount should Yumi report as a foreign currency transaction loss in its income statement for the year ended December 31, 20X1? a) $500 b) $0 c) $1,500 d) $1,000 Question 6 3 / 3 points Note: This is a Kaplan CPA Review Question Mazeppa, Inc. is a multinational entity with its head office located in Toronto, Canada. Its main foreign subsidiary is in Paris, France, but the primary economic environment in which the foreign subsidiary generates and expends cash is in the United States. Based on this information, which of the following statements is most likely true for Mazeppa, Inc.? a) The functional currency is the Euro. b) The local currency is the U.S. dollar. c) The reporting currency is the Canadian dollar. d) The reporting currency is the U.S. dollar. Question 7 3 / 3 points If the restatement method for a foreign subsidiary involves remeasuring from the local currency into the functional currency, then translating from functional currency to U.S. dollars, the functional currency of the subsidiary is: I. U.S. dollar. II. Local currency unit. III. A third country's currency. a) I b) III c) II d) Either I or II Question 8 3 / 3 points In cases of operations located in highly inflationary economies: a) The reporting currency of the U.S. parent—the U.S. dollar—should be used as the foreign entity's functional currency. b) The foreign currency should be used as the functional currency with a footnote to the financials displaying what the earnings would have been using the U.S. dollar as the functional currency. c) The foreign currency should be used as the functional currency with a single line item—foreign translation—reporting the adjustment using the U.S. dollar as the functional currency. d) None of these. Question 9 3 / 3 points When the local currency of the foreign subsidiary is the functional currency, a foreign subsidiary's inventory carried at cost would be converted to U.S. dollars by: a) translation using historical exchange rates. b) remeasurement using historical exchange rates. c) remeasurement using the current exchange rate. d) translation using the current exchange rate. Question 10 3 / 3 points When the local currency of the foreign subsidiary is the functional currency, a foreign subsidiary's income statement accounts would be converted to U.S. dollars by: a) translation using historical exchange rates. b) remeasurement using current exchange rates at the time of statement preparation. c) translation using average exchange rate for the period. d) remeasurement using the current exchange rate at the time of statement preparation. Question 11 3 / 3 points If the U.S. dollar is the currency in which the foreign affiliate's books and records are maintained, and the U.S. dollar is also the functional currency, a) the translation method should be used for restatement. b) the remeasurement method should be used for restatement. c) either translation or remeasurement could be used for restatement. d) no restatement is required. Question 12 3 / 3 points Under the temporal method, which of the following is usually used to translate monetary amounts to the functional currency? I. The current exchange rate II The historical exchange rate III. Average exchange rate a) I b) III c) II d) Either I or II Question 13 3 / 3 points All of the following stockholders' equity accounts of a foreign subsidiary are translated at historical exchange rates except: a) retained earnings. b) common stock. c) additional paid-in capital. d) preferred stock. Question 14 0 / 3 points Dividends of a foreign subsidiary are translated at: a) the average exchange rate for the year. b) the exchange rate on the date of declaration. c) the current exchange rate on the date of preparation of the financial statement. d) the exchange rate on the record date. Question 15 3 / 3 points If the functional currency is the local currency of a foreign subsidiary, what exchange rates should be used to translate the items below, assuming the foreign subsidiary is in a country which has not experienced hyperinflation over three years? a) Option A b) Option B c) Option C d) Option D Question 16 3 / 3 points Company X denominated a December 1, 20X9, purchase of goods in a currency other than its functional currency. The transaction resulted in a payable fixed in terms of the amount of foreign currency, and was paid on the settlement date, January 10, 2010. Exchange rates moved unfavorably at December 31, 20X9, resulting in a loss that should: a) be included as a separate component of stockholders' equity at Dec. 31, 20X9. b) be included as a component of income from continuing operations for 20X9. c) be included as a deferred charge at December 31, 20X9. d) not be reported until January 10, 2010, the settlement date. Question 17 3 / 3 points ASC 280 uses a(n) ______ approach to the definition of segments. a) line of business b) entity approach c) portfolio d) management Question 18 3 / 3 points Zeus Corporation has determined that it has 15 reportable operating segments. In order to comply with the standard for segment disclosures, Zeus Corporation should do which of the following? a) Report 10 reportable segments and disclose the remaining 5 segments as other operating segments. b) Report 10 reportable segments by combining the most closely related segments. c) Report 15 reportable segments as long as the 75 percent revenue test has been satisfied. d) Report 12 reportable segments and show all other operating segments in a column labeled "Other Operating Segments." Question 19 3 / 3 points Trimester Corporation's revenue for the year ended December 31, 20X8, was as follows: Trimester has a reportable operating segment if that segment's revenue exceeds: a) $65,500 b) $60,000 c) $64,500 d) $61,000 Question 20 3 / 3 points Five of eight internally reported operating segments of Rollins Company qualify under the standards set by ASC 280 for segment reporting. However, the five identified segments do not meet the 75 percent revenue test. ASC 280 prescribes that management: a) subdivide segments until there are at least 10 reportable segments. b) consolidate the remaining operating segments and include them under an "all other" category. c) select additional operating segments until the 75% threshold is met. d) include the heading "corporate headquarters" as an operating segment. Question 21 3 / 3 points Note: This is a Kaplan CPA Review Question Correy Corp. and its divisions are engaged solely in manufacturing operations. The following data (consistent with prior years' data) pertain to the industries in which operations were conducted for the year ended December 31st: In its segment information for the year, how many reportable segments does Correy have? a) Five b) Three c) Four d) Six Question 22 3 / 3 points Note: This is a Kaplan CPA Review Question Cott Co.'s four business segments have revenues and identifiable assets expressed as percentages of Cott's total revenues and total assets as follows: Which of these business segments are deemed to be reportable segments? a) Ebon, Fair, Gel, and Hak b) Ebon only c) Ebon and Fair only d) Ebon, Fair, and Gel only Question 23 3 / 3 points Note: This is a Kaplan CPA Review Question The key to reporting accounting information by segments is determining what constitutes a segment. Of the following, which is not a method of determining a reportable segment? a) Operating profit b) Revenues c) Number of employees d) Combined identifiable assets Question 24 3 / 3 points Note: This is a Kaplan CPA Review Question Which of the following characteristics would render the operating unit "reportable"? The operating unit comprises at least: a) 5 percent of the assets of a company as a whole. b) 10 percent of the revenues of the company as a whole. c) 50 percent of the long term debt of the company as a whole. d) 20 percent of the operating profit of the company as a whole. Question 25 3 / 3 points Note: This is a Kaplan CPA Review Question Reportable segments are not required to disclose which of the following: a) Amortization expense b) Intersegment sales c) Capital expenditures d) Long-term debt Question 26 3 / 3 points Stone Company reported $100,000,000 of revenues on its 20X8 income statement. During the year ended December 31, 20X8, Stone made sales of $8,000,000 to external customers in Western Europe. In addition, Stone made sales of $10,000,000 to the U.S. government and $4,000,000 of sales to various state governments. In the footnotes to its financial statements for 20X8, in reporting enterprisewide disclosures, Stone is required to disclose: a) Option A b) Option B c) Option C d) Option D Question 27 3 / 3 points Which of the following are established by ASC 280 as "enterprisewide disclosure" standards to provide more information about the risks to a company? I. Information about dominant industry segments. II. Information about major customers. III. Information about geographic areas a) Both II and III b) Both I and III c) Both I and II d) I, II, and II Question 28 3 / 3 points William Corporation, which has a fiscal year ending January 31, had the following pretax accounting income and estimated effective annual income tax rates for the first three quarters of the year ended January 31, 20X8: William's income tax expenses in its interim income statement for the third quarter are: a) $36,000. b) $73,500. c) $46,500. d) $120,000. Question 29 3 / 3 points On June 30, 20X8, String Corporation incurred a $220,000 net loss from disposal of a business component. Also, on June 30, 20X8, String paid $60,000 for property taxes assessed for the calendar year 20X8. What amount of the preceding items should be included in the determination of String's net income or loss for the six-month interim period ended June 30, 20X8? a) $250,000 b) $220,000 c) $140,000 d) $280,000 Question 30 3 / 3 points During the third quarter of 20X8, Pride Company sold a piece of equipment at an $8,000 gain. What portion of the gain should Pride report in its income statement for the third quarter of 20X8? a) $0 b) $2,000 c) $4,000 d) $8,000 Question 31 3 / 3 points ASC 270 uses which view of interim reporting? a) Integral b) Discrete c) Segmental d) Comprehensive Question 32 3 / 3 points How would a company report a change in an accounting principle made on the last day of the third quarter? a) Retrospective application to all pre-change interim periods reported. b) No change is required. c) Apply to current and prospective interim periods only. d) Apply to prospective interim periods only. Question 33 3 / 3 points Missoula Corporation disposed of one of its segments in the second quarter and incurred a gain from disposal of discontinued segment of $600,000, net of taxes. What is the effect of this gain from disposal of discontinued segment? a) Increase net income from operations for the year by $600,000. b) Increase second quarter net income by $600,000. c) Increase each quarter's net income by $150,000. d) Increase each of the last three quarters' net income by $200,000. Question 34 3 / 3 points The income tax expense applicable to the second quarter's income statement is determined by: a) dividing the estimated annual income tax expense by four and allocating the amount to the second quarter. b) multiplying the effective income tax rate times the income before tax for the second quarter. c) subtracting the income tax expense applicable to the first quarter from the income tax expense applicable to the first two quarters. d) subtracting the income tax liability applicable to the first quarter from the income tax liability applicable to the first two quarters. Question 35 3 / 3 points If a company changes the method it uses to compute the allowance for uncollectible accounts receivable because more recent information has become available, how is this change in method is accounted for? a) The change is only reported in the current period in which the change is made. b) The change is reported in all future periods affected by the change. c) Previously issued financial statements are not adjusted by the change. d) All of these are correct ways to account for the change. Question 36 0 / 16 points Foreign Currency Transactions Old Colonial Corp. (a U.S. company) made a sale to a foreign customer on September 15, 2009, for 100,000 stickles. Payment was received on October 15, 2009. The following exchange rates applied: Required: Prepare all journal entries for Old Colonial Corp. in connection with this sale assuming that the company closes its books on September 30 to prepare interim financial statements. The correct answer is not displayed for Long Answer type questions. Question 37 0 / 9 points Multinational Accounting A foreign subsidiary of an American company may operate in a highly inflationary economy. A. Discuss the criteria that must be satisfied in order to qualify as a highly inflationary economy. B. For inflationary economies, discuss how the trial balance or financial statements of a foreign branch or subsidiary are combined with the financial statements of the parent company. In other words: 1. Is the trial balance remeasured or translated? 2. Is the difference a transaction gain or loss, or is the difference a translation adjustment? Why? A) This question has not been graded. The correct answer is not displayed for Long Answer type questions. Question 38 0 / 20 points Interim Reports: APB Opinion No. 28 “Interim Financial Reporting” discusses the proper method of reporting results of operations on interim dates. A. Discuss how revenue is generally recognized on interim date. Note any possible disclosures that may be needed. B. Discuss how product costs and period costs are recognized on interim dates. Include comments on exceptions provided for inventory valuations. C. Explain how income taxes are computed and reported in interim reports. , Attachments (175.05 KB)
Question_Chap1_15Dec_5th Question_Chap1_15Dec_5th Question 161. Because of increased competition during the ___________ era, firms put new effort into winning customers. A) simple trade B) sales C) production D) marketing company E) marketing department 162. During the ______________ era, concern about increased competition lead firms to focus on selling to attract customers. A) sales B) simple trade C) marketing department D) production E) marketing company 163. The president of a company that produces cardboard boxes is concerned about the large number of competitors with extra capacity. As he put it, "our best shot is in the hands of our sales manager--she makes all of our marketing decisions and is creative enough to figure out how to sell more boxes." It seems that this company is run as if it were in the: A) production era. B) marketing company era. C) simple trade era. D) sales era. E) marketing department era. 164. The owner of a company that produces electronic circuit boards sees many competitors with extra capacity and says the "only hope is that our sales manager, who makes all of our marketing decisions, will find a way to sell more boards." It seems that this company is run as if it were in the: A) production era. B) sales era. C) excess capacity era. D) marketing company era. E) marketing department era. 165. Which of the following statements regarding the "sales era" is true? A) The emphasis was on selling. B) A business problem was to beat the competition. C) More production capability was available than ever before. D) All of the above. E) None of the above. 166. Asa Meyer was just named FireFly Products sales manager, with responsibilities for all marketing planning. FireFly's president told him that his job is to "outsell the competition." Apparently, FireFly is operating in the ______________ era. A) market-oriented B) production C) sales D) marketing company E) marketing department 167. The ______________ era is a time when all marketing activities are brought under the control of one department to improve short-run planning. A) production B) marketing department C) sales D) simple trade E) marketing company 168. As a firm moves from the sales era to the marketing department era it is likely to: A) have marketing people who develop long range plans--sometimes 5 or more years ahead. B) begin to integrate all the firm's marketing activities. C) place less emphasis on earning a profit and more emphasis on what customers will buy. D) adopt a more narrow view of marketing. E) be more concerned with its ability to produce enough to meet demand. | 169. Myra Martinez was just named Treasure Island, Inc.'s "marketing manager"--with responsibilities for short-run policy planning of the firm's advertising, sales, marketing research, purchasing, and distribution efforts. Apparently, Treasure Island is operating in the ______________ era. A) market-oriented B) production C) marketing department D) marketing company E) sales 170. The main difference between the "marketing department era" and the "marketing company era" is: A) more emphasis on selling and advertising in the marketing department era. B) whether the president of the firm has a background in marketing. C) more emphasis on short-run planning in the marketing company era. D) whether the whole company is customer-oriented. E) There is no difference. | 171. When marketing people do long-range planning and the whole company is guided by the "marketing concept," the company has entered the ______________ era. A) production B) customer satisfaction C) marketing company D) consumerism E) marketing department 172. A company where the marketing people do both short-run and long-range planning is operating in the A) marketing company era. B) sales era. C) simple trade era. D) marketing department era. E) production era. 173. The president of a financial services company says that her new marketing manager has changed things a lot--making long-range plans about where the firm should focus its effort, and coordinating the decisions about what services to offer and how they should be promoted and priced. It seems that this company is just moving into the: A) marketing company era. B) sales era. C) production era. D) marketing department era. E) simple trade era. | 174. Which of the following would be relevant in the marketing company era? A) Concentrating on satisfying customers. B) Planning for five or more years ahead. C) Involving the whole company in the marketing effort. D) Making a profit. E) All of the above. | 175. SouthFace Corporation just named Chloe Perry to a marketing management position. One of the reasons she accepted a position with this company was its reputation for market-oriented long-range planning. SouthFace Corp. is probably operating in the ______________ era. A) planning. B) marketing company. C) marketing research. D) marketing department. E) none of the above. 176. Based on the following company statements, which company is most likely to be in the marketing company era? A) "Our sales force was able to sell middlemen more of our new product than they can resell in all of this year." B) "Our marketing manager is coordinating pricing, product decisions, promotion and distribution to help us show a profit at the end of this year." C) "The whole company is in good shape--demand exceeds what we can produce." D) "Our long range plan--developed by our marketing manager--is to expand so that we can profitably meet the long-term needs of our customers." E) "Our new President previously led our marketing effort as Vice President of Sales." | 177. A "production-oriented" firm typically: A) views customer credit as a customer service. B) sets inventory requirements with customer needs in mind. C) tries to sell the products it can make easily. D) focuses advertising on need-satisfying product benefits. E) operates as an integrated unit. | 178. A manager with a "production orientation" is likely to think that: A) customers exist to buy the firm's output. B) customers' needs should guide decisions about what the firm produces. C) the company should find out what product customers want to buy, and then produce that product. D) production managers should handle all marketing activities. E) people in the production department should work closely with people from all the firm's other departments. | 179. Which of the following is MOST LIKELY to be found in a production-oriented firm? A) agreements among departments about how to improve customer satisfaction. B) making products that are easy to produce. C) producing goods that exactly meet the customer's needs. D) a focus on profit rather than sales. E) none of the above. 180. Which of the following is LEAST LIKELY to be found in a production-oriented firm? A) disagreements among departments about how to improve the company's product. B) making products that are easy to produce. C) producing goods that exactly meet the customer's needs. D) a mass marketing approach. E) none of the above. 181. MetroTech Corporation has been experiencing declining profits. MetroTech's salespeople blame the production people for making inferior products, and the production people complain that the salesmen are just not getting enough orders. MetroTech seems to have A) implemented the marketing concept. B) a production orientation. C) a customer orientation. D) a sales orientation. E) a marketing orientation. 182. MetroTech Corporation has been experiencing declining profits. The accounting department blames the MetroTech marketing staff for "out of control" sales costs. The salespeople blame the warehouse for being slow to fill orders. And the warehouse manager says that the production department can't meet its schedule. MetroTech seems to have A) implemented the marketing concept. B) a customer orientation. C) a marketing orientation. D) a sales orientation. E) a production orientation. 183. Accepting the "marketing concept" means that a firm should have a ______________ orientation. A) production B) sales C) marketing D) All of the above. E) None of the above. | 184. Accepting the "marketing concept" means that a firm should have a ____________ orientation. A) marketing. B) research. C) production. D) sales. E) planning. | 185. A firm with a marketing orientation: A) has little need for salespeople. B) sells what it can make easily. C) tries to determine customers' needs before developing its product. D) focuses advertising on product features. E) all of the above. | 186. The difference between "production orientation" and "marketing orientation" is best explained as follows: A) there are no separate functional departments in a marketing-oriented firm. B) in a marketing-oriented firm, the total system's effort is guided by what individual departments would like to do. C) production-oriented firms usually do not have a marketing manager. D) in a marketing-oriented firm, every department's activities are guided by what customers need and what the firm can deliver at a profit. E) all major decisions are based on extensive marketing research studies in marketing-oriented firms. 187. The three basic ideas in the "marketing concept" are: A) customer satisfaction, resource efficiency, sales maximization. B) customer satisfaction, total company effort, sales growth. C) resource efficiency, sales growth, profit maximization. D) customer satisfaction, marketing manager as chief executive, profit. E) customer satisfaction, total company effort, profit. | 188. Which of the following is one of the three basic ideas in the "marketing concept?" A) resource efficiency. B) total company effort. C) obtain economies of scale. D) maximize sales. E) the president has a marketing background. 189. Which of the following is one of the three basic ideas in the "marketing concept?" A) resource efficiency. B) obtain economies of scale. C) profit as an objective. D) maximize sales. E) the president has a marketing background. | 190. Which of the following is one of the three basic ideas in the "marketing concept?" A) resource efficiency. B) customer satisfaction. C) obtain economies of scale. D) maximize sales. E) the president has a marketing background. | 191. An important step in applying the marketing concept is: A) changing the firm's organizational structure. B) changing the firm's management methods and procedures. C) appointing someone with a marketing management background to be the firm's president. D) hiring a marketing consultant. E) committing to customer satisfaction. | 192. The "marketing concept" says that a business firm should aim all of its efforts at: A) doing more advertising and selling than competitors. B) selling what the company produces. C) satisfying customers--regardless of profitability. D) satisfying its customers--at a profit. E) producing those products which it can make at lowest cost. | 193. The "marketing concept" says that a business firm should: A) Aim all its efforts at meeting society's needs--regardless of profitability. B) Aim all its efforts at satisfying its customers--at a profit. C) Sell those products which it can make at lowest cost. D) Place heavy emphasis on developing new products. E) Treat advertising and selling as its priority. | 194. Which of the following best explains what the "marketing concept" means? A) Firms should spend more money on marketing than they have in the past. B) A firm's main emphasis should be on the efficient utilization of its resources. C) All of a firm's activities and resources should be organized to satisfy the needs of its customers--at a profit. D) A company's chief executive should previously have been a marketing manager. E) A firm should always attempt to give customers what they need regardless of the cost involved. | 195. Complete acceptance of the "marketing concept" would require: A) making sure that all departments focus their efforts on satisfying customer needs. B) having all production, finance, accounting, and personnel managers report directly to the marketing manager. C) placing less emphasis on profit as the objective of the firm. D) trying to satisfy the needs of each and every customer. E) All of the above. | | 196. "Production orientation" refers to the attitudes of: A) sales managers. B) accountants. C) financial managers. D) production managers. E) anyone who doesn't practice the marketing concept. | 197. In a firm operating as a total "system" to implement the marketing concept: A) the whole company is customer-oriented. B) there are no departments. C) product planning is under the control of the production or engineering departments. D) the marketing manager directs and controls all company activities. E) None of the above are true. 198. The total system view of the marketing concept builds on the idea that A) sales should be the firm's high-level objective. B) a company should not have specialized departments. C) each department in an organization should do what it does best. D) all departments--not just marketing--should be guided by customer needs. E) Both B and D are correct. 199. Which of the following organizations would most likely be the first to adopt the marketing concept? A) A producer of industrial chemicals. B) A producer of bar soap. C) A hardware store. D) A community theater. E) A doctor's office. 200. Which of the following organizations would most likely be the first to adopt the marketing concept? A) A producer of industrial plastics. B) A discount store. C) A large urban hospital. D) A local post office. E) A producer of health and beauty aids.
stats data bank stats data bank Question 29. Which of the following is not a measure of central tendency? a. the standard deviation b. the mean c. the mode d. the median e. all of the above are measures of central tendency 30. Which of the following is not a measure of spread or dispersion? a. the standard deviation b. the range c. the mean d. the variance e. all of the above are measures of spread 31. The measure most likely affected by extreme values or outliers is the: a. median b. mean c. mode d. inter-quartile range e. none of the above 32. Which of the following statements is correct? a. the range is found by taking the difference between the largest and smallest values and dividing by 2 b. the inter-quartile range is found by taking the difference between the first and third quartiles and dividing that value by 2 c. the standard deviation is expressed in terms of the original units of measurement but the variance is not d. the value of the standard deviation may be positive or negative but the value of the variance will always be positive e. none of the above 33. Which of the following statements are correct? a. the mean is a measure of deviation in a data set b. the standard deviation is a measure of dispersion c. the range is a measure of central tendency d. the median is a measure of dispersion e. none of the above 34. Which of the following is the weakest (or least useful) measure of dispersion? a. the range b. the standard deviation c. the coefficient of variation d. the variance e. none of the above 35. Which of the following is not a measure of variability in a data set? a. the range b. the variance c. the inter-quartile range d. the median e. none of the above 36. For a negatively skewed distribution with a single mode a. Mean = median = mode b. Mean < median ? mode c. Mean > median ? mode d. Mean = median but one is unable to tell where the mode would lie e. None of the above 37. For a perfectly symmetrical distribution with a single mode a. Mean = median = mode b. Mean < median ? mode c. Mean > median ? mode d. Mean = median but one is unable to tell where the mode would lie e. None of the above 38. For a positively skewed distribution with a single mode a. Mean = median = mode b. Mean < median ? mode c. Mean > median ? mode d. Mean = median but one is unable to tell where the mode would lie e. None of the above 39. A restaurant conducts a survey to determine the quality of their service. Customers were asked to rate their service as either very poor, poor, average, good or excellent. The most appropriate measure of central location for this data set is: a. Mean b. Coefficient of Variation c. Standard deviation d. Variance e. Median 40. Given a positively skewed distribution with a median of 10 and a mode of 8. Which of the following is not a possible value for the mean? a. 12 b. 11 c. 6 d. 18 e. 15 41. Given a negatively skewed distribution with a median of 8 and a mode of 10. Which of the following is not a possible value for the mean? a. 7 b. 1 c. 12 d. 5 e. 3 42. Which of the following data sets has the largest variance? a. 1; 2; 3; 4; …..100 b. 11; 12; 13;….110 c. 2; 4; 6; …200 d. 1001; 1002; 1003; ….1100 e. all of the above have equal variance 43. The following marks are the test 1 marks for 10 randomly selected STA100 students: 67, 34, 98, 78, 76, 55, 80, 49, 91, 66. What is the sample variance for this sample? a. 18.46 b. 19.46 c. 378.71 d. 389.21 e. 329.98 44. The following marks are the test 1 marks for 10 randomly selected STA100 students: 67, 34, 98, 78, 76, 52, 80, 49, 91, 66. What is the sample variance for this sample? a. 19.73 b. 19.46 c. 378.71 d. 389.21 e. 329.98 45. The following marks are the test 1 marks for 10 randomly selected STA100 students: 67, 34, 98, 78, 76, 55, 80, 49, 19, 66. What is the sample variance for this sample? a. 23.48 b. 19.46 c. 378.71 d. 551.51 e. 329.98 46. The following marks are the test 1 marks for 10 randomly selected STA100 students: 67, 43, 98, 78, 76, 55, 80, 49, 91, 66. What is the sample variance for this sample? a. 18.46 b. 17.78 c. 316.01 d. 389.21 e. 329.98 47. The following marks are the test 1 marks for 10 randomly selected STA100 students: 67, 34, 98, 78, 76, 55, 80, 49, 91, 66. What is the range of marks for this sample? a. 64 b. 98 c. 79 d. 55 e. 91 48. The following marks are the test 1 marks for 10 randomly selected STA100 students: 67, 34, 98, 78, 76, 52, 80, 49, 91, 66. What is the range of marks for this sample? a. 64 b. 98c. 79 d. 55 e. 91 49. The following marks are the test 1 marks for 10 randomly selected STA100 students: 67, 34, 98, 78, 76, 55, 80, 49, 19, 66. What is the range of marks for this sample? a. 64 b. 98 c. 79 d. 55 e. 91 50. The following marks are the test 1 marks for 10 randomly selected STA100 students: 67, 43, 98, 78, 76, 55, 80, 49, 91, 66. What is the range of marks for this sample? a. 64 b. 98 c. 79 d. 55 e. 91 51. The following marks are the test 1 marks for 10 randomly selected STA100 students: 67, 34, 98, 78, 76, 55, 80, 49, 91, 66. What is the coefficient of variation for this sample? a. 0.28 b. 0.30 c. 0.38 d. 0.25 e. 0.50 52. The following marks are the test 1 marks for 10 randomly selected STA100 students: 67, 34, 98, 78, 76, 52, 80, 49, 91, 95. What is the coefficient of variation for this sample? a. 0.28 b. 0.30 c. 0.38 d. 0.25 e. 0.50 53. The following marks are the test 1 marks for 10 randomly selected STA100 students: 67, 34, 98, 78, 76, 55, 80, 49, 19, 66. What is the coefficient of variation for this sample? a. 0.28 b. 0.30 c. 0.38 d. 0.25 e. 0.50 54. The following marks are the test 1 marks for 10 randomly selected STA100 students: 67, 43, 98, 78, 76, 55, 80, 49, 91, 66. What is the coefficient of variation for this sample? a. 0.28 b. 0.30 c. 0.38 d. 0.25 e. 0.50 55. The following calculations on a data set have been done for you:åx = 110,åx2 = 1235, n = 10. What is the coefficient of variation? a. 0.152 b. 0.495 c. 0.754 d. 1.047 e. 0.500 56. The following calculations on a data set have been done for you:åx = 110,åx2 = 1235, n = 12. What is the coefficient of variation? a. 0.152 b. 0.495 c. 0.754 d. 1.047 e. 0.500 57. The following calculations on a data set have been done for you:åx = 110,åx2 = 1235, n = 15. What is the coefficient of variation? a. 0.152 b. 0.495 c. 0.754 d. 1.047 e. 0.500 58. The following calculations on a data set have been done for you:åx = 110,åx2 = 1235, n = 20. What is the coefficient of variation? a. 0.152 b. 0.495 c. 0.754 d. 1.047 e. 0.500 59. Which of the following data sets has a mean of 3 and a variance of 0? a. 3 3 3 3 3 b. 2 3 4 4 2 c. 1 3 5 1 4 d. 9 9 9 9 9 e. None of the above 60. The length of the box in the box and whisker plot portrays the: a. Median b. Upper quartile c. Mean d. Range e. Interquartile range