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1) The income statement and balance sheet columns of Pine Company's worksheet reflects the following totals: Income Statement Balance Sheet Dr. Cr. Dr. Cr. Totals $58,000 $48,000 $34,000 $44,000 Closing entries are necessary for __________.

2) As Plant Controller, you are trying to determine which costs over which you have the most control on a day to day basis. Your goal is to achieve better profitability. The Plant Operations Manager suggests that overhead is the easiest area to directly reduce costs. Which of the following items would be classified as manufacturing overhead?

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

4) The conceptual framework developed by the Financial Accounting Standards Board __________.

5) In what situations will a static budget be most effective in evaluating a manager's effectiveness?

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


7) These are selected account balances on December 31, 2008. Land (location of the corporation’s office building) $150,000 Land (held for future use) 225,000 Corporate Office Building 900,000 Inventory 300,000 Equipment 675,000 Office Furniture 150,000 Accumulated Depreciation 450,000 What is the net amount of property, plant, and equipment that will appear on the balance sheet?

8) A well-designed activity-based costing system starts with __________. 9) The cost principle is the basis for preparing financial statements because it is __________. 10) Which one of the following is a product cost?

11) If a company reports a net loss, it __________. 12) The primary purpose of the statement of cash flows is to __________. 13) The major reporting standard for management accounts is __________. 14) Disney’s variable costs are 30% of sales. The company is contemplating an advertising campaign that will cost $22,000. If sales are expected to increase $40,000, by how much will the company's net income increase? 15) The price of a good that prevails in a world market is called the 16) A country's consumption possibilities frontier can be outside its production possibilities frontier if __________.

17) The general term for market structures that fall somewhere in-between monopoly and perfect competition is __________.

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


19) A tax on an imported good is called a __________.

20) Without trade, __________.

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

22) The political business cycle refers to __________.

23) The open-economy macroeconomic model examines the determination of __________.

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

25) Which of the following statements about GDP is correct? 26) Real GDP __________.

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

28) Which of the following best describes a mental image of a possible and desirable future state of the organization?

29) Which of these refers to the practices aimed at discovering and harnessing an organization's intellectual resources? 30) As related to managing of human resources, diversity refers to:

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


32) Teams that operate separately from the regular work structure and exist temporarily are known as:

33) Which of these represent skills that managers need? 34) Having individuals actually do the job they are applying for as a test to see if they can do it is __________. 35) A manager's ability to stimulate people to be high performers is referred to as: 36) The most dominant areas in the global economy include: 37) An organization that is managed aggressively and has growth and high profits as primary objectives may be considered a(n): 38) __________ is the process of working with people and resources to accomplish organizational goals.

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

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

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

42) Use the following table to answer question: P(M A) is approximately _____.

43) Which of the following statements is true? A. If A and B are independent events, the P(B) = P(A) P(B). B. If event (A) occurs, then its complement (A') will also occur. C. The probability of A and its complement (A') will always sum to one. D. The sum of two mutually exclusive events is one.


44) Use the following table to answer question: Are Service provider and county independent events? A. Insufficient information to determine B. Yes C. No (Check your textbook!!!)

45) Use the following table to answer question: P(S | W) is approximately _____. A. .58 B. .12 C. 30 D. .40 (Check your textbook!!!)

46) William used a sample of 68 U.S. cities to estimate the relationship between Crime (annual property crimes per 100,000 persons) and Income (median income per capita). His estimated regression equation was Crime = 428 + .050 Income. Which outcomes would be likely in a bivariate regression on 45 randomly chosen U.S. cities in 2005 with Y = number of robberies in each city (thousands of robberies) and X = size of police force in each city (thousands of police)? A. No correlation. B. Autocorrelation. C. Positive slope (due to city size). D. High R2 (due to city size). Read more: http://geography.uoregon.edu/geogr/topics/regression01.htm 47) Thirty patients are selected from a filing cabinet containing 812 patient folders by choosing every 27th patient folder. Which sampling method is this? A. Cluster sample B. Simple random sample C. Stratified sample D. Systematic sample


48) Suppose that the optimal values of the decision variables to a two-variable linear programming problem remain the same as long as the slope of the objective function lies between the slopes of the following two constraints: 2X1 + 3X2 26 2X1 + 2X2 20 The current objective function is: 8X1 + 9X2 = Z Which of the following statements about the range of optimality on c1 is TRUE? A. 0 c1 2 B. 9 c1 12 C. 2 c1 6 D. 6 c1 9

49) Which one of the following statements concerning production and staffing plans is best?

50) Which one of the following statements concerning production and staffing plans is best? 51) Queuing models use an A/B/C notation. What do these variables represent?

52) Which is not a tool of statistical quality control? 53) Fundamental points about network computing in organizations include all of the following except:

54) When customers access a Web site and make purchases, they generate __________.

55) When your purchases are swiped over the bar-code reader at the point-of-sale terminals at Wal-Mart, a _____ records the data.

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


57) Which of the following statements is correct?

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

59) Information-based industries are most susceptible to which one of Porter’s five forces?

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

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

62) Which of the following are not provided by digital dashboards? 63) Which of the following best represents operating income?

64) Which of the following is most consistent with the hedging principle in working capital management? 65) Exchange rate risk:

66) A machine costs $1,000, has a three-year life, and has an estimated salvage value of $100. It will generate after-tax annual cash flows (ACF) of $600 a year, starting next year. If your required rate of return for the project is 10%, what is the NPV of this investment? (Round your answerwer to the nearest $10.)

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

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


69) Forward rates are quoted: 70) You hold a portfolio with the following securities: Security Percent of Portfolio Beta Return X Corporation 20% 1.35 14% Y Corporation 35% .95 10% Z Corporation 45% .75 8%

Compute the expected return and beta for the portfolio.

71) A stock with a beta greater than 1.0 has returns that are _____ volatile than the market, and a stock with a beta of less than 1.0 exhibits returns which are _____ volatile than those of the market portfolio.

72) Mortgage bonds:

73) Petrified Forest Skin Care, Inc. pays an annual perpetual dividend of $1.70 per share. If the stock is currently selling for $21.25 per share, what

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

75) At what rate must $400 be compounded annually for it to grow to $716.40 in 10 years? 76) "Positioning":

77) Good marketing strategy planners know that: 78) In an effort to increase its total sales, Champion has started exporting its spark plugs for use by several German auto producers. Champion is

80) Analysis of demographic dimensions:


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

82) The managerial process of developing and maintaining a match between the resources of an organization and its market opportunities is called: 83) When evaluating macro-marketing:

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

85) When one considers the strategy decisions organized by the four Ps, branding is related to packaging as:

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

87) When looking at demographic dimensions, marketers should:

88) Which of the following receives at least some protection under the U.S. Constitution?

89) Which article of the United States Constitution deals with the judicial power of the federal government?

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

91) Which of the following is correct about interpretive rules? 92) What type of commercial speech did the U.S. Supreme Court say was protected in the Greater New Orleans Broadcasting Association, Inc. v. United States case?


93) A professional corporation is one that: 94) What makes a publicly held corporation different from a public corporation?

95) Generally, which of the following statements relating to contractual capacity is correct?

96) Which social responsibility theory has been advocated by Novel Prizewinning economist Milton Friedman?

97) If a minor wishes to be bound to a contract after becoming an adult, she must:

98) What exists when budgeted costs exceed actual results?

99) Balance sheet accounts are considered to be __________.

100) One of Astro Company's activity cost pools is machine setups, with estimated overhead of $150,000. Astro produces sparklers (400 setups) and lighters (600 setups). How much of the machine setup cost pool should be assigned to sparklers?

101) The income statement and balance sheet columns of Pine Company's worksheet reflects the following totals: Income Statement Balance Sheet Dr. Cr. Dr. Cr. Totals $58,000 $48,000 $34,000 $44,000

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