This document contains 50 multiple choice questions related to accounting, finance, and business topics. The questions cover a wide range of concepts including financial statements, inventory accounting, capital budgeting, internal controls, risk analysis, and corporate strategy. No answers are provided.

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2. 1. Vertical analysis is a technique that expresses each item in a financial
statement:
2. Under the accrual basis of accounting:
3. The manager of Weiser is given a bonus based on net income before taxes. The
net income after taxes is $35,700 for FIFO and $29,400 for LIFO. The tax rate is
30%. The bonus rate is 20%. How much higher is the managers bonus if FIFO is
adopted instead of LIFO?
4. For both qualitative and quantitative data, what is the difference between
the relative frequency and the percent frequency?
5. In multiple regression, plot the residuals against ____ to detect changing
variability.
6. What is an advantage of the correlation coefficient over the covariance?
7. __________involves ensuring proper strategic controls and organizational
designs.
8. Green, Inc. had 200,000 shares of common stock outstanding before a stock
split occurred and 800,000 shares outstanding after the stock split. The stock
split was:
9. A post-closing trial balance will show:
10. Sarbanes Oxley applies to:
11. The acquisition of treasury stock by a corporation:
12. Trumpeting Trumpets has the following inventory data:
13. A SWOT analysis is a framework for analyzing a firms environments. A SWOT is
made up of
14. WellPoint Health Network states: WellPoint will redefine our industry:
through a new generation of consumer-friendly products that put individuals back
in control of their future. This is an example of a:
15. Continuous monitoring, in the contemporary approach, is beneficial because
_____________.
16. Expenditures that maintain the operating efficiency and expected productive
life of a plant asset are generally:
17. What is a difference between merchandising companies and service
enterprises?
18. According to the text, the triple bottom line approach to corporate
accounting includes three components:
19. The preparation of adjusting entries is:
20. In a simple linear regression model, if the plots on a scatter diagram lie
on a straight line, what is the standard error of the estimate?
21. GAAP, compared to IFRS, tends to be more:
22. The four key attributes of strategic management include the idea that:
23. Which of the following meets the requirements of a simple random sample?
24. You work in marketing for a company that produces work boots. Quality
control has sent you a memo detailing the length of time before the boots wear
out under heavy use. They find that the boots wear out in an average of 208
days, but the exact amount of time varies, following a normal distribution with
a standard deviation of 14 days. For an upcoming ad campaign, you need to know
the percent of the pairs that last longer than six months-that is, 180 days. Use
the empirical rule to approximate this percent.
25. Is it possible for a data set to have no mode?
26. Which of these statements regarding the industry life cycle is correct?
27. The resource-based view (RBV) of the firm combines two perspectives:
28. Which of the following can be represented by a discrete random variable?
29. The fraud triangle applies to:
30. Sampling is used heavily in manufacturing and service settings to ensure
high-quality products. In which of the following areas would sampling be
inappropriate?
31. According to value-chain analysis, which of the following would be
considered part of the general administration in a firm?
32. Shaw Industries, a giant carpet manufacturer, increases its control over raw
materials by producing much of its own polypropylene fiber, a key input to its
manufacturing process. This is an example of _______________.
33. Which of the following can be represented by a continuous random variable?
34. Which of the following requirements about internal controls were enacted
under the Sarbanes Oxley Act:
35. International Financial Reporting Standards (IFRS):
36. Which of the following is not a current liability on December 31, 2014?
37. Interest may be included in the acquisition cost of a plant asset:

3. 38. On March 1st, Candy, Inc. had supplies on hand of $1,500. During the month,
Candy purchased supplies of $2,900 and used supplies of $2,800. The March 31st
balance sheet should report what balance in their supplies account?
39. Firms must be aware of goals other than short-term profit maximization. One
area of concern should be social responsibility which is:
40. Which of the following controls would best help detect the removal of a
blank check by an employee from the back of a companys checkbook for subsequent
misappropriation of funds?
41. Cost allocation of an intangible asset is referred to as:
42. The owner of a company has recently decided to raise the salary of one
employee, who was already making the highest salary, by 20%. Which of the
following is(are) expected to be affected by this raise?
43. The acquisition of treasury stock by a corporation:
44. Assume that the Fitzgerald Corporation uses the indirect method to depict
cash flows. Indicate where, if at all, accounts receivable collected would be
classified on the statement of cash flows.
45. Shaw Industries, a giant carpet manufacturer, increases its control over
raw materials by producing much of its own polypropylene fiber, a key input to
its manufacturing process. This is an example of _______________.
46. When collection is made on Accounts Receivable,
47. An analyst believes the probability that U.S. stock returns exceed long-term
corporate bond returns over a 5-year period is based on personal assessment.
This type of probability is best characterized as a(n) ____________.
48. If a corporation issued $8,000,000 in bonds which pay 5% annual interest,
what is the annual net cash cost of this borrowing if the income tax rate is
30%?
49. Which trial balance will consist of the greatest number of accounts?
50. Which financial statement would best indicate whether the company relies on
debt or stockholders equity to finance its assets?