This document provides 20 multiple choice questions related to BUS 475 Week 4 knowledge check. The questions cover topics such as data measurement, confidence intervals, probability, linear regression, hypothesis testing, strategic planning, accounting, finance, and Sarbanes-Oxley Act requirements. The document also advertises exam solutions and homework answers for purchase from an online test preparation site.

1. BUS 475 Week 4
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2. BUS 475 Week 4 Knowledge check
1. A fast-food restaurant asks customers to evaluate the drive-thru service as
good, average, or poor. What level of data measurement is this classification?
2. In order to determine the average amount spent in November on Amazon.com a
random sample of 144 Amazon accounts were selected. The sample mean amount spent
in November was $250 with a standard deviation of $25. Assuming that the
population standard deviation is unknown, what is a 95% confidence interval for
the population mean amount spent on Amazon.com in November?
3. A shipment of 20 DVDs has arrived at a video rental store. Based on past
experience, the manager knows that 10% of all new DVDs sent to the store have a
visible defect. The manager tells you to begin inspecting the new DVDs one at a
time at random until you find the first DVD that has a defect. If 10% of the
DVDs have a visible defect in the new shipment, what is the probability that the
first DVD that has a defect is the 3rd one that you inspect? (Round your answer
to 3 decimal places.)
4. An insurance agent has selected a sample of drivers that she insures whose
ages are in the range from 16–42 years old. For each driver, she records the age
of the driver and the dollar amount of claims that the driver filed in the
previous 12 months. A scatterplot showing the dollar amount of claims as the
response variable and the age as the predictor shows a linear regression line
with: y^=3710 – 55.4x. If the age of a driver increases by 1 year, by how much
and in what direction would the dollar amount of claims be predicted to change
for the driver?
5. A researcher claims that the proportion of employees who play video games in
the workplace is higher than it was 10 years ago. You might be willing to reject
the null hypothesis of no change with a = 0.10 or larger. The p-value for this
test is 0.15. In this case the researcher should
6. The general plan of major actions through which a firm intends to achieve is
long-term objectives is called its
7. How valuable a low-cost leader's cost advantage is depends on
8. Which of the following represent marketing capabilities at the growth stage
of industry evolution?
9. __________ is an organization structured around the idea of sharing
knowledge, seeking knowledge, and creating opportunities to create new
knowledge.
10. Which of the following types of strategic control has a low degree of
formalization?
11. Investors and creditors are particularly interested in this financial
statement because it tells them what is happening to the company’s most
important resource?
12. The cash basis of accounting is prohibited under GAAP for the following
reason:
13. Use the following data to determine the total dollar amount of assets to be
classified as property, plant, and equipment. Eddy Auto Supplies Balance Sheet
December 31, 2014 Cash $84,000 Accounts payable $110,000 Accounts receivable
$80,000 Salaries and wages payable $20,000 Inventory $140,000 Mortgage payable
$180,000 Prepaid insurance $60,000 Total liabilities $310,000 Stock investments
$170,000 Land $190,000 Buildings $226,000 Common stock $240,000 Less:
Accumulated Retained earnings $500,000 depreciation ($40,000) $186,000 Total
stockholders’ equity $740,000 Trademarks $140,000 Total liabilities and Total
assets $1,050,000 Stockholders’ equity $1,050,000
14. 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?
15. The Sarbanes–Oxley Act of 2002 requires publicly traded U.S. companies to
take the following actions to defect and prevent fraud:
16. On July 1, 2014, Linden Company purchased the copyright to Norman Computer
Tutorials for $140,000. It is estimated that the copyright will have a useful

3. life of 5 years. The amount of amortization expense recognized for the year 2014
would be
17.ABC Corp. receives a 7-month interest-bearing promissory note in the amount
of $360,000 on February 1. The interest rate is 15%. What is the total interest
expense ABC Corp will record assuming ABC makes all of its payments?
18. Logan Corporation issues 50,000 shares of $50 par value preferred stock for
cash at $60 per share. The entry to record the transaction will consist of a
debit to cash for $3,000,000 and a credit or credits to preferred stock of
$3,000,000
19. Which of the following tools of analysis is used to evaluate financial
statement information by expressing financial statement data as a percentage
over a base amount?
20.The Sarbanes–Oxley Act of 2002 requires publically-traded U.S. companies to
provide great internal controls. The five primary components of an internal
control system include: a control environment, risk assessment, information and
communication.