The document is a summary of the BUS 475 Capstone Final Examination Part 2 from 2016. It includes multiple choice questions covering topics such as adjusting entries, correlation coefficients, plant asset accounting, trial balances, SWOT analysis, accounting standards, and financial statement analysis. The summary provides an overview of the content and format of the examination.
Finance is the lifeblood and lifeline of any business entity either commercial or non-commercial. The
Survival, Stability and Sustainability of a firm is highly associated with its financial wellness. It can be observed through its ability to pay(re) short-term as well as long term liabilities, meeting the regular financial obligations, to increase the value of firm and ability to generate profit. Financial analysis, evaluation, and assessment help in determines the financial position and financial strength of a firm. Among the plenty of methods and tolls available for financial performance, ratio analysis is more useful and meaningful. These ratios make it possible to analyze the evolution of the financial situation of a firm (trend analysis), cross-sectional analysis and comparative analysis.
Determinants of Earnings Management of Listed Oil and Gas Firms in Nigeriapaperpublications3
Abstract: Earnings management has gained global recognition. Yet, it is still not clear what determines earnings management within the context of the oil and gas sector in Nigeria. Therefore, this study examined the determinants of earnings management of listed oil and gas firms in Nigeria. Correlational research design was adopted in order to ascertain the relationship between the identified determinants of earnings management and earnings management. A sample of seven (7) oil and gas firms was seven out of a population of fifteen (15) firms. The study covered a period of six (6) years from 2010 to 2015. Secondary data were gathered from the published annual reports of the selected firms. The data were analysed using multiple regression analysis through Stata. Results from the analysis show that external sector specialization has positive and significant effect on earnings management of listed oil and gas firms while external audit tenure and audit committee gender have negative and significant relationship with earnings management of listed oil and gas firms in Nigeria. However, the study found that there is no significant relationship between external audit fees and earnings management of listed oil and gas firms in Nigeria. Therefore, it was recommended that oil and gas firms should ensure that, after a certain period of time, they change the services of auditors that specialize in auditing the oil and gas sector; the oil and gas firms should be encouraged to utilize the services of auditors with long tenure; and that the oil and gas firms in Nigeria should be encouraged to continue to engage the services of more female audit committee members.
Keywords: Earnings, Management, Firms, Nigeria.
Title: Determinants of Earnings Management of Listed Oil and Gas Firms in Nigeria
Author: Zayol, P. I., Adzembe, Iyornenge, Akaa, Samuel Terzungwe
ISSN 2349-7807
International Journal of Recent Research in Commerce Economics and Management (IJRRCEM)
Paper Publications
Financial and Managerial Accounting 17th Edition Williams Test BankQuinnWheelerss
Full download : https://alibabadownload.com/product/financial-and-managerial-accounting-17th-edition-williams-test-bank/ Financial and Managerial Accounting 17th Edition Williams Test Bank , Financial and Managerial Accounting,Williams,17th Edition,Test Bank
Financial and Managerial Accounting for MBAs 4th Edition Easton Test BankQuinnWheelerss
Full download : https://alibabadownload.com/product/financial-and-managerial-accounting-for-mbas-4th-edition-easton-test-bank/ Financial and Managerial Accounting for MBAs 4th Edition Easton Test Bank , Financial and Managerial Accounting for MBAs,Easton,4th Edition,Test Bank
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Case Study 1 (Part A)Analyze the impact of business transactions on accounts; record (journalize and post) transactions in the books; construct and use a trial balance) During the first month of operation of Gordon Construction, Inc., completed the following transactions: For this week's checkpoint we had to look up three job postings in the field of accounting. I'm glad that I got this opportunity because it actually opened my eyes and expanded my knowledge in the accounting field. The three job positions are listed below. The first job title was Senior Internal Auditor.
Congreso Virtual Mundial de e-Learning
CVME 2014
www.congresoelearning.org
www.congresoelearning.com
Una comunidad de práctica y aprendizaje abierta, gratuita y colaborativa
Congreso Virtual Mundial de e-Learning
CVME 2014
www.congresoelearning.org
www.congresoelearning.com
Una comunidad de práctica y aprendizaje abierta, gratuita y colaborativa
“AUTONOMOUS DOMICILE” stands for self-reliant structure or net zero energy building. An autonomous domicile can be defined as a building in which renewable energy is created on the structure itself and same is used for the meeting energy requirements of the structure. This project is mainly constant rated on promotion and optimum use of five components such as Solar Energy, Wind Energy, Rainwater Harvesting, Biogas and Green Building on the structures or buildings to meet their energy requirements and at the same time to reduce the use of non-renewable energy. The installation and orientation of these five components in the structure in such an integrated way so that maximum output can be obtained from the each component have been studied in this project. We have studied in detail about each and every component us as their installation method, the process of energy production, how much input is needed to produce the optimum amount of output from the components and also about their charges of installation.
Finance is the lifeblood and lifeline of any business entity either commercial or non-commercial. The
Survival, Stability and Sustainability of a firm is highly associated with its financial wellness. It can be observed through its ability to pay(re) short-term as well as long term liabilities, meeting the regular financial obligations, to increase the value of firm and ability to generate profit. Financial analysis, evaluation, and assessment help in determines the financial position and financial strength of a firm. Among the plenty of methods and tolls available for financial performance, ratio analysis is more useful and meaningful. These ratios make it possible to analyze the evolution of the financial situation of a firm (trend analysis), cross-sectional analysis and comparative analysis.
Determinants of Earnings Management of Listed Oil and Gas Firms in Nigeriapaperpublications3
Abstract: Earnings management has gained global recognition. Yet, it is still not clear what determines earnings management within the context of the oil and gas sector in Nigeria. Therefore, this study examined the determinants of earnings management of listed oil and gas firms in Nigeria. Correlational research design was adopted in order to ascertain the relationship between the identified determinants of earnings management and earnings management. A sample of seven (7) oil and gas firms was seven out of a population of fifteen (15) firms. The study covered a period of six (6) years from 2010 to 2015. Secondary data were gathered from the published annual reports of the selected firms. The data were analysed using multiple regression analysis through Stata. Results from the analysis show that external sector specialization has positive and significant effect on earnings management of listed oil and gas firms while external audit tenure and audit committee gender have negative and significant relationship with earnings management of listed oil and gas firms in Nigeria. However, the study found that there is no significant relationship between external audit fees and earnings management of listed oil and gas firms in Nigeria. Therefore, it was recommended that oil and gas firms should ensure that, after a certain period of time, they change the services of auditors that specialize in auditing the oil and gas sector; the oil and gas firms should be encouraged to utilize the services of auditors with long tenure; and that the oil and gas firms in Nigeria should be encouraged to continue to engage the services of more female audit committee members.
Keywords: Earnings, Management, Firms, Nigeria.
Title: Determinants of Earnings Management of Listed Oil and Gas Firms in Nigeria
Author: Zayol, P. I., Adzembe, Iyornenge, Akaa, Samuel Terzungwe
ISSN 2349-7807
International Journal of Recent Research in Commerce Economics and Management (IJRRCEM)
Paper Publications
Financial and Managerial Accounting 17th Edition Williams Test BankQuinnWheelerss
Full download : https://alibabadownload.com/product/financial-and-managerial-accounting-17th-edition-williams-test-bank/ Financial and Managerial Accounting 17th Edition Williams Test Bank , Financial and Managerial Accounting,Williams,17th Edition,Test Bank
Financial and Managerial Accounting for MBAs 4th Edition Easton Test BankQuinnWheelerss
Full download : https://alibabadownload.com/product/financial-and-managerial-accounting-for-mbas-4th-edition-easton-test-bank/ Financial and Managerial Accounting for MBAs 4th Edition Easton Test Bank , Financial and Managerial Accounting for MBAs,Easton,4th Edition,Test Bank
FOR MORE CLASSES VISIT
www.acct504mart.com
Case Study 1 (Part A)Analyze the impact of business transactions on accounts; record (journalize and post) transactions in the books; construct and use a trial balance) During the first month of operation of Gordon Construction, Inc., completed the following transactions: For this week's checkpoint we had to look up three job postings in the field of accounting. I'm glad that I got this opportunity because it actually opened my eyes and expanded my knowledge in the accounting field. The three job positions are listed below. The first job title was Senior Internal Auditor.
Congreso Virtual Mundial de e-Learning
CVME 2014
www.congresoelearning.org
www.congresoelearning.com
Una comunidad de práctica y aprendizaje abierta, gratuita y colaborativa
Congreso Virtual Mundial de e-Learning
CVME 2014
www.congresoelearning.org
www.congresoelearning.com
Una comunidad de práctica y aprendizaje abierta, gratuita y colaborativa
“AUTONOMOUS DOMICILE” stands for self-reliant structure or net zero energy building. An autonomous domicile can be defined as a building in which renewable energy is created on the structure itself and same is used for the meeting energy requirements of the structure. This project is mainly constant rated on promotion and optimum use of five components such as Solar Energy, Wind Energy, Rainwater Harvesting, Biogas and Green Building on the structures or buildings to meet their energy requirements and at the same time to reduce the use of non-renewable energy. The installation and orientation of these five components in the structure in such an integrated way so that maximum output can be obtained from the each component have been studied in this project. We have studied in detail about each and every component us as their installation method, the process of energy production, how much input is needed to produce the optimum amount of output from the components and also about their charges of installation.
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1. The term “receivables” refers to
cash to be paid to debtors.
merchandise to be collected from individuals or companies.
cash to be paid to creditors.
amounts due from individuals or companies.
2. Three accounting issues associated with accounts receivable are
depreciating, valuing, and collecting.
depreciating, returns, and valuing.
For more classes visit
www.snaptutorial.com
1. The term “receivables” refers to
cash to be paid to debtors.
merchandise to be collected from individuals or companies.
cash to be paid to creditors.
amounts due from individuals or companies.
2. Three accounting issues associated with accounts receivable are
depreciating, valuing, and collecting.
Acc 291 Effective Communication / snaptutorial.comHarrisGeorg3
1. The term “receivables” refers to
cash to be paid to debtors.
merchandise to be collected from individuals or companies.
cash to be paid to creditors.
amounts due from individuals or companies.
ACC 291 GENIUS NEW Introduction Education--acc291genius.comclaric275
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1. The term “receivables” refers to cash to be paid to debtors. merchandise to be collected from individuals or companies. cash to be paid to creditors. amounts due from individuals or companies. 2. Three accounting issues associated with accounts receivable are depreciating, valuing, and collecting. depreciating, returns, and valuing. accrual, bad debts, and accelerating collections. recognizing, valuing, and accelerating collections. 3. When the allowance method is used to account for uncollectible accounts Bad Debts Expense is debited when: management estimates the amount
For more classes visit
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1. The term “receivables” refers to
cash to be paid to debtors.
merchandise to be collected from individuals or companies.
cash to be paid to creditors.
amounts due from individuals or companies.
For more classes visit
www.snaptutorial.com
1. The term “receivables” refers to
cash to be paid to debtors.
merchandise to be collected from individuals or companies.
cash to be paid to creditors.
amounts due from individuals or companies.
ACC 291 GENIUS NEW Education Begins--acc291genius.comkopiko191
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1. The term “receivables” refers to cash to be paid to debtors. merchandise to be collected from individuals or companies. cash to be paid to creditors. amounts due from
ACC 291 GENIUS NEW Remember Education--acc291genius.comchrysanthemu4
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1. The term “receivables” refers to cash to be paid to debtors. merchandise to be collected from individuals or companies. cash to be paid to creditors. amounts due from individuals or companies. 2. Three accounting issues associated with accounts receivable are depreciating, valuing, and collecting. depreciating, returns, and valuing. accrual, bad debts, and accelerating collections. recognizing, valuing, and accelerating collections. 3. When the allowance method is used to account for uncollectible
Synthetic Fiber Construction in lab .pptxPavel ( NSTU)
Synthetic fiber production is a fascinating and complex field that blends chemistry, engineering, and environmental science. By understanding these aspects, students can gain a comprehensive view of synthetic fiber production, its impact on society and the environment, and the potential for future innovations. Synthetic fibers play a crucial role in modern society, impacting various aspects of daily life, industry, and the environment. ynthetic fibers are integral to modern life, offering a range of benefits from cost-effectiveness and versatility to innovative applications and performance characteristics. While they pose environmental challenges, ongoing research and development aim to create more sustainable and eco-friendly alternatives. Understanding the importance of synthetic fibers helps in appreciating their role in the economy, industry, and daily life, while also emphasizing the need for sustainable practices and innovation.
Ethnobotany and Ethnopharmacology:
Ethnobotany in herbal drug evaluation,
Impact of Ethnobotany in traditional medicine,
New development in herbals,
Bio-prospecting tools for drug discovery,
Role of Ethnopharmacology in drug evaluation,
Reverse Pharmacology.
This is a presentation by Dada Robert in a Your Skill Boost masterclass organised by the Excellence Foundation for South Sudan (EFSS) on Saturday, the 25th and Sunday, the 26th of May 2024.
He discussed the concept of quality improvement, emphasizing its applicability to various aspects of life, including personal, project, and program improvements. He defined quality as doing the right thing at the right time in the right way to achieve the best possible results and discussed the concept of the "gap" between what we know and what we do, and how this gap represents the areas we need to improve. He explained the scientific approach to quality improvement, which involves systematic performance analysis, testing and learning, and implementing change ideas. He also highlighted the importance of client focus and a team approach to quality improvement.
Unit 8 - Information and Communication Technology (Paper I).pdfThiyagu K
This slides describes the basic concepts of ICT, basics of Email, Emerging Technology and Digital Initiatives in Education. This presentations aligns with the UGC Paper I syllabus.
Operation “Blue Star” is the only event in the history of Independent India where the state went into war with its own people. Even after about 40 years it is not clear if it was culmination of states anger over people of the region, a political game of power or start of dictatorial chapter in the democratic setup.
The people of Punjab felt alienated from main stream due to denial of their just demands during a long democratic struggle since independence. As it happen all over the word, it led to militant struggle with great loss of lives of military, police and civilian personnel. Killing of Indira Gandhi and massacre of innocent Sikhs in Delhi and other India cities was also associated with this movement.
Instructions for Submissions thorugh G- Classroom.pptxJheel Barad
This presentation provides a briefing on how to upload submissions and documents in Google Classroom. It was prepared as part of an orientation for new Sainik School in-service teacher trainees. As a training officer, my goal is to ensure that you are comfortable and proficient with this essential tool for managing assignments and fostering student engagement.
Model Attribute Check Company Auto PropertyCeline George
In Odoo, the multi-company feature allows you to manage multiple companies within a single Odoo database instance. Each company can have its own configurations while still sharing common resources such as products, customers, and suppliers.
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Custom cabinet making
Computer assembly
Technical support by phone
Cell phone manufacturing
The preparation of adjusting entries is:
needed to ensure that the expense recognition principle is followed.
straightforward because the accounts that need adjustment will be out of balance
optional when financial statements are prepared.
only required for accounts that do not have a normal balance.
What is an advantage of the correlation coefficient over the covariance?
It falls between -1 and 1.
It is a unit-free measure, therefore making it easier to interpret.
It falls between -1 and 1; and it is a unit free measure, therefore making it easier to interpret.
It falls between 0 and 1.
Interest may be included in the acquisition cost of a plant asset:
during the construction period of a self-constructed asset.
if the asset acquisition is financed by a long-term note payable.
if the asset is purchased on credit.
if it is a part of a lump-sum purchase.
BUS 475 Capstone Final Examination Part 2 NEW 2016
Which trial balance will consist of the greatest number of accounts?
Balance
Adjusted trial balance
Trial balance
Post-closing trial balance
3. Expenditures that maintain the operating efficiency and expected productive life of a plant asset are generally:
capitalized as a part of the cost of the asset.
not recorded until they become material in amount.
expensed when incurred.
debited to the Accumulated Depreciation account.
A SWOT analysis is a framework for analyzing a firm’s environments. A SWOT is made up of
Internal environmental analysis of threats and weaknesses.
External analysis of strengths and opportunities.
Internal threats and weakness and external strengths and opportunities.
Internal strengths and weaknesses; external threats and opportunities.
GAAP, compared to IFRS, tends to be more:
simple in disclosure requirements
simple in accounting requirements
principles-based
rules-based
Firms must be aware of goals other than short-term profit maximization. One area of concern should be social
responsibility which is:
the idea that organizations are solely responsible to local citizens
the idea that businesses are responsible to maintain a healthy social climate for their employees
the expectation that business will strive to improve the overall welfare of society
the fact that court costs could impact the financial bottom line
Which of the following can be represented by a continuous random variable?
The number of typos found on a randomly selected page of this test bank
The number of students who will get financial assistance in a group of 50 randomly selected students
The number of customers who visit a department store between 10:00 a.m. and 11:00 a.m. on Mondays
The average temperature in Tampa, Florida, during the month of July
According to value-chain analysis, which of the following would be considered part of the general administration in a
firm?
procurement
technology development
information systems
human resource management
Which of the following can be represented by a discrete random variable?
4. The number of defective light bulbs in a sample of five
The average distance achieved in a series of long jumps
The circumference of a randomly generated circle
The time of a flight between Chicago and New York
Sarbanes Oxley applies to:
U.S and international companies.
international companies but not U.S. companies.
U.S. and Canadian companies but not other international companies.
U.S companies but not international companies.
Vertical analysis is a technique that expresses each item in a financial statement:
as a percent of the item in the previous year.
starting with the highest value down to the lowest value.
in dollars and cents.
as a percent of a base amount.
BUS 475 Capstone Final Examination Part 2 NEW 2016
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?
Mean, median, and mode
Median only
Mean and median only
Mean only
Which of the following meets the requirements of a simple random sample?
A population contains 10 members under the age of 25 and 20 members over the age of 25. The sample will include six
people chosen at random, without regard to age.
A population contains 10 members under the age of 25 and 20 members over the age of 25. The sample will include two
people chosen at random under the age of 25 and four people chosen at random over 25.
A population contains 10 members under the age of 25 and 20 members over the age of 25. The sample will include six
people who volunteer for the sample.
A population contains 10 members under the age of 25 and 20 members over the age of 25. The sample will include six
males chosen at random, without regard to age.
The acquisition of treasury stock by a corporation:
decreases its total assets and total stockholders’ equity.
requires that a gain or loss be recognized on the income statement.
increases its total assets and total stockholders’ equity.
has no effect on total assets and total stockholders’ equity.
5. Under the accrual basis of accounting:
the ledger accounts must be adjusted to reflect a cash basis of accounting before financial statements are prepared under
generally accepted accounting principles.
cash must be received before revenue is recognized.
events that change a company’s financial statements are recognized in the period they occur rather than in the period in
which cash is paid or received.
net income is calculated by matching cash outflows against cash inflows.
The acquisition of treasury stock by a corporation:
has no effect on total assets and total stockholders’ equity.
decreases its total assets and total stockholders’ equity.
increases its total assets and total stockholders’ equity.
requires that a gain or loss be recognized on the income statement.
In multiple regression, plot the residuals against ____ to detect changing variability.
Collinear variables
All explanatory variables
The response variable
The predicted values
BUS 475 Capstone Final Examination Part 2 NEW 2016
The resource-based view (RBV) of the firm combines two perspectives:
the interrelationships among the primary activities of the firm and corporate management
the industry and the competitive environment
the internal analysis of the firm and the external analysis of the industry and competitive environment
the primary and support activities of the firm
Cost allocation of an intangible asset is referred to as:
accretion
capitalization
depreciation
amortization
The fraud triangle applies to:
U.S. and Canadian companies, but not other international companies.
U.S companies but not international companies.
international companies but not U.S. companies.
U.S and international companies.
On March 1st, Candy, Inc. had supplies on hand of $1,500. During the month, Candy purchased supplies of $2,900 and
6. used supplies of $2,800. The March 31st balance sheet should report what balance in their supplies account?
$1,600
$1,500
$2,900
$2,800
Shaw Industries, a giant carpet manufacturer, increases its control over raw materials by producing much of its own
polypropylene fiber, a key input to its manufacturing process. This is an example of _______________.
using related diversification to achieve value by integrating vertically in order to acquire market power
using related diversification to achieve value by pooling negotiating power to achieve market power
using related diversification to achieve value by leveraging core competencies to achieve economies of scope
using related diversification to achieve value by integrating vertically in order to attain economies of scope
Assume that the Fitzgerald Corporation uses the indirect method to depict cash flows. Indicate where, if at all, accounts
receivable collected would be classified on the statement of cash flows.
Does not represent a cash flow.
Financing activities section.
Investing activities section.
Operating activities section.
BUS 475 Capstone Final Examination Part 2 NEW 2016
__________involves ensuring proper strategic controls and organizational designs.
Strategy implementation
Business-level strategy
Corporate-level strategy
Corporate governance
The manager of Weiser is given a bonus based on net income before taxes. The net income after taxes is $35,700 for FIFO
and $29,400 for LIFO. The tax rate is 30%. The bonus rate is 20%. How much higher is the manager’s bonus if FIFO is
adopted instead of LIFO?
$9,000
$1,800
$6,300
$12,600
Which of the following controls would best help detect the removal of a blank check by an employee from the back of a
company’s checkbook for subsequent misappropriation of funds?
Tracing any debit memorandums from the bank to the company’s records
A review of the cash budget
An accounting policies manual
7. The use of pre-numbered checks
Which of the following is not a current liability on December 31, 2014?
A Note Payable due December 31, 2015
A lawsuit judgment to be decided on January 10, 2015
An Accounts Payable due January 31, 2015
Accrued salaries payable from 2014
When collection is made on Accounts Receivable,
Stockholders equity will increase.
total assets will remain the same.
total assets will decrease.
total assets will increase.
Which financial statement would best indicate whether the company relies on debt or stockholders’ equity to finance its
assets?
Retained earnings statement
Statement of cash flows
Income statement
Balance sheet
Is it possible for a data set to have no mode?
No, if the data set is nonempty, there is always a mode
No, unless there is an odd number of observations
Yes, if there are no observations that occur more than once
Yes, if two observations occur twice
BUS 475 Capstone Final Examination Part 2 NEW 2016
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) ____________.
Empirical probability
A priori probability
Objectivity probability
Subjective probability
Continuous monitoring in the contemporary approach, is beneficial because _____________.
organization response time is increased
it increases the time it takes to detect changes in the competitive environment
It reduces time lags
organizational flexibility is reduced
8. 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:
Strategic objective
Line manger’s individual goal
Vague statement of direction
Vision statement
A post-closing trial balance will show:
zero balances for all accounts
only income statement accounts
only balance sheet accounts
zero balances for balance sheet accounts
Which of the following requirements about internal controls were enacted under the Sarbanes Oxley Act:
Independent outside auditors must eliminate redundant internal controls.
Companies must develop sound internal controls over financial reporting.
Companies must assess the functionality of internal controls only when a violation occurs.
Internal auditors replace independent outside auditors when evaluating the level of internal control.
Which of these statements regarding the industry life cycle is correct?
Part of the power of the market life cycle is its ability to serve as a short-run forecasting device.
It points out the need to maintain a differentiation advantage and a low cost advantage simultaneously.
It has important implications for company generic strategies, functional areas, value-creating activities, and overall
objectives.
Trends suggested by the market life cycle model are generally not reversible or repeatable.
International Financial Reporting Standards (IFRS):
implies that receivables with different characteristics should be reported separately.
implies that receivables with different characteristics should be reported as one un-segregated amount.
requires that receivables with different characteristics should be reported separately.
requires that receivables with different characteristics should be reported as one un-segregated amount.
Q48) In a simple linear regression model, if the plots on a scatter diagram lie on a straight line, what is the standard error
of the estimate?
Infinity
0
-1
+1
9. Shaw Industries, a giant carpet manufacturer, increases its control over raw materials by producing much of its own
polypropylene fiber, a key input to its manufacturing process. This is an example of _______________.
using related diversification to achieve value by integrating vertically in order to attain economies of scope
using related diversification to achieve value by pooling negotiating power to achieve market power
using related diversification to achieve value by integrating vertically in order to acquire market power
using related diversification to achieve value by leveraging core competencies to achieve economies of scope
The four key attributes of strategic management include the idea that:
Strategy must be focused on long-term objectives.
Strategy must be focused on one specific area of an organization.
Strategy must be directed toward overall organizational goals and objectives.
Strategy must be focused on competitor strengths.
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%?
$120,000
$280,000
$400,000
$4,000,000
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:
1-for-8
4-for-1
8-for-1
2-for-8
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.
95%
97.5%
5%
2.5%
What is a difference between merchandising companies and service enterprises?
Cost of goods sold is an expense for service enterprises but not for merchandising companies.
The operations in merchandising companies and service enterprises are identical.
Merchandising companies must prepare multiple-step income statements and service enterprises must prepare single-step
10. income statements.
Merchandising companies generally have a longer operating cycle than service enterprises.
For both qualitative and quantitative data, what is the difference between the relative frequency and the percent frequency?
The percent frequency equals the relative frequency multiplied by 100
As opposed to the percent frequency, the relative frequency is divided by the number of observations the data set.
The relative frequency equals the percent frequency multiplied by 100.
The percent frequency equals the relative frequency multiplied by 100
According to the text the triple bottom line approach to corporate accounting includes three components:
financial, organizational, and customer
financial, environmental, and customer
financial, organizational, and psychological
financial, environmental, and social
As opposed to the relative frequency, the percent frequency is divided by the number of observations in the data set.
Trumpeting Trumpets has the following inventory data:
July 1: Beginning inventory 30 units at $120
July 5: Purchases 180 units at $112
July 14: Sale 120 units
July 21: Purchases 90 units at $115
July 30: Sale 84 units
Assuming that a periodic inventory system is used, what is the cost of goods sold on a FIFO basis?
$10,992
$23,118
$11,022
$23,088