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Bus 475 Final Exam 600 Mcqs
Bus 475 Final Exam 600 Mcqs
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$90,000
2.
$60,000
3.
$75,000
4.
$150,000
2)
inventory items at the following prices. First purchase $80; Second purchase
$95; Third purchase $85. If the company sold two units for a total of $240 and
used FIFO costing, the gross profit for the period would be _____.
1.
$50
2.
$75
3.
$60
4.
$65
3). If a company reports a net loss, it __________.
1.
2.
3.
4.
1.
2.
3.
4.
Factory janitor
5)
Hess, Inc. sells a single product with a contribution margin of $12 per
unit and fixed costs of $74,400 and sales for the current year of $100,000.
How much is Hesss breakeven point?
1.
2,133 units
2.
$25,600
3.
6,200 units
4.
4,600 units
6) Of the following companies, which one would not likely employ the specific
identification method for inventory costing?
1.
Hardware store
2.
3.
Antique shop
4.
19) There are two types of markets in which firms face some competition yet
are still able to have some control over the prices of their products. The
names given to these market structures are __________.
A. Duopoly and imperfect competition
B. Perfect competition and monopolistic competition
C. Duopoly and triopoly
D. Monopolistic competition and oligopoly
20) Which of the following would be most likely to contribute to the
breakdown of a cartel in a natural resource (e.g., bauxite) market?
A. Unequal member ownership of the natural resource
B. High compatibility of member interests
C. Low price elasticity of demand
D. High prices
21) One characteristic of an oligopoly market structure is:
A. The actions of one seller have no impact on the profitability of other sellers
B. Products typically sell at a price that reflects their marginal cost of production
C. Firms in the industry have some degree of market power
D. Firms in the industry are typically characterized by very diverse product lines
22) Real GDP __________.
A. Is a measure of the value of goods only; it excludes the value of services
B. Is not a valid measure of the economy's performance, since prices change from year to year
C. Evaluates current production at the prices that prevailed in some specific year in the past
D. Evaluates current production at current prices
D. A potential cost of deficits is that they reduce national saving, thereby reducing growth of the
capital stock and output growth
27) The open-economy macroeconomic model includes __________.
A. Neither the market for loanable funds or the market for foreign-currency exchange
B. Only the market for foreign-currency exchange
C. Both the market for loanable funds and the market for foreign-currency exchange
D. Only the market for loanable funds
28) ABC International carefully watches the actions of its most innovative
competitor and learns from them. ABC can establish a low-cost position by:
A. Technology followers are not successful at low-cost strategies
B. Producing an imitation of the new technology that utilizes lower-quality and lower-cost materials
C. Mass-producing products that have an established market niche
D. Making subtle changes to the product, thereby avoiding patent restrictions
E. Learning from the leader thereby avoiding the costs and risks of technology leadership
29) A leader is:
A. Someone well-respected by others
B. The top level manager in a firm or business
C. Someone who influences others to attain goals
D. Someone with authority over others
E. A strategic level manager
30) __________ is the process of working with people and resources to
accomplish organizational goals.
A. Supervising
B. Management
C. Decision making
D. Planning
E. Controlling
31) Which of the following has proven to be a particularly good predictor for
jobs that require cognitive complexity?
A. Behavioral assessment
B. Integrity evaluations
C. Aptitude tests
D. Intelligence tests
E. Work sampling
32) Teams that operate separately from the regular work structure and exist
temporarily are known as:
A. Transnational teams
B. Parallel teams
C. Self-managed teams
D. Management teams
E. Self-designing teams
33) The pursuit of lucrative opportunities by enterprising individuals is called:
A. Social experimentation
B. Independence
C. Entrepreneurship
D. Intrapreneurship
E. Business incubating
34) The best way for an employer to find out if a potential employee can do a
job is by __________.
A. Using a performance simulation test
B. Using a written test
C. Administering an IQ test
D. Using the interview process
E. Having them spend a day in the office
35) A manager's ability to stimulate people to be high performers is referred
to as:
A. Staffing
B. Organizing
C. Controlling
D. Planning
E. Leading
36) Teams that work on long-term projects but disband once the work is
completed are known as:
A. Parallel teams
B. Project and development teams
C. Transnational teams
D. Traditional work groups
E. Management teams
37) Having individuals actually do the job they are applying for as a test to
see if they can do it is __________.
A. An approach with low reliability
B. An approach with high reliability
C. A formal means of screening candidates
D. An informal means of screening candidates
E. An approach with high face validity
38) As related to managing of human resources, diversity refers to:
A. Differences in employee benefit plans (such as pensions, insurance, vacations, memberships,
etc.)
B. Differences in pay methods (such as hourly, salaried, overtime, hazard-pay, commissioned, etc.)
C. Differences in retention strategies (such as training, hiring, incentives, etc)
D. Differences in demographics (such as age, race, gender, disability status, lifestyle, veteran status,
educational level, etc.)
E. Differences in recruiting methods (such as newspapers, schools, flyers, magazines, agencies,
etc.)
39) To be competitive in a global economy, Europeans must increase their
level of:
A. Population density
B. Philanthropic contributions
C. Financial subsidy
D. Espionage activity
E. Productivity
43) Twelve randomly-chosen students were asked how many times they had
missed class during a certain semester, with this result: 2, 1, 5, 1, 1, 3, 4, 3, 1,
1, 5, 18. For this sample, which measure of central tendency is least
representative of the typical student?
A. Mean
B. Midrange
C. Mode
D. Median
44) Dullco Manufacturing claims that its alkaline batteries last forty hours on
average in a certain type of portable CD player. Tests on a random sample of
18 batteries showed a mean battery life of 37.8 hours with a standard
deviation of 5.4 hours.
A. The p-value cannot be determined without specifying
B. The p-value is less than .05
C. The p-value is equal to .05
D. The p-value is greater than .05
45) Jolly Blue Giant Health Insurance (JBGHI) is concerned about rising lab test
costs and would like to know what proportion of the positive lab tests for
prostate cancer are actually proven correct through subsequent biopsy. JBGHI
demands a sample largeenough to ensure an error of 2% with 90% confidence. What is the
necessary sample size?
A. 609
B. 2,401
C. 1,692
D. 1,604
46) Dullco Manufacturing claims that its alkaline batteries last forty hours on
average in a certain type of portable CD player. Tests on a random sample of
18 batteries showed a mean battery life of 37.8 hours with a standard
deviation of 5.4 hours. In a left-tailed test at = .05 we would __________.
50) Which one of the following statements concerning production and staffing
plans is best?
A. Production and staffing plans specify production rates, workforce levels, and inventory holdings,
but do not account for capacity limitations because they are aggregated
B. Production and staffing plans attempt to achieve several objectives, all of which must be
consistent with one another
C. When production and staffing plans are made, aggregation can be performed only along two
dimensions: products and time