Question 1

Which of the following is not withheld from the employee's check?

Accepted Answer

A) Union Dues 
B) Federal Income Tax 
C) Social Security 
D) All of the above are withheld 
A) Union Dues 
B) Federal Income Tax 
C) Social Security 
D) All of the above are withheld

Question 2

How are defective products identified in a JIT inventory system?

Accepted Answer

A) Defective inventory is stacked in a particular location. 
B) Defective inventory is color coded 
C) Defective inventory marked down for consumers 
D) The production line is stopped and only started when the problem causing the defective product is identified. 
A) Defective inventory is stacked in a particular location. 
B) Defective inventory is color coded 
C) Defective inventory marked down for consumers 
D) The production line is stopped and only started when the problem causing the defective product is identified.

Question 3

Life-cycle pricing:

Accepted Answer

A) attempts to establish a price that can be maintained throughout the life of the product 
B) sets the price high to begin with and then lowers it later on in the life of the product 
C) sets the price low to begin with and then raises it later on in the life of the product 
D) is the same as target pricing 
A) attempts to establish a price that can be maintained throughout the life of the product 
B) sets the price high to begin with and then lowers it later on in the life of the product 
C) sets the price low to begin with and then raises it later on in the life of the product 
D) is the same as target pricing

Question 4

Match between columns
                        Premises: Electric Utility in a particular region
Cable Company in a particular city
Automobile Companies
Flower Shops
Oil Companies
Clothing Designers
Computer Companies
Wheat farmer in Kansas

Accepted Answer

The Answer of Monopoly and Pure competition and Oligopoly and is...

Question 5

In general,which of the following is true about the pricing of products?

Accepted Answer

A) When supply increases prices increase 
B) When demand decreases prices increase 
C) When supply decreases prices increase 
D) When demand increases prices increase 
A) When supply increases prices increase 
B) When demand decreases prices increase 
C) When supply decreases prices increase 
D) When demand increases prices increase

Question 6

Mobile phone providers that offer no or low cost phones when customers sign up for service is an example of which pricing strategy?

Accepted Answer

A) penetration pricing 
B) pioneer price 
C) life-cycle pricing 
D) price skimming 
A) penetration pricing 
B) pioneer price 
C) life-cycle pricing 
D) price skimming

Question 7

Which of the following is not a factor in the EOQ inventory model?

Accepted Answer

A) Annual demand for the inventory in units 
B) Cost to place one additional order 
C) Cost to carry one additional unit in inventory 
D) All of the following are factors in the EOQ model. 
A) Annual demand for the inventory in units 
B) Cost to place one additional order 
C) Cost to carry one additional unit in inventory 
D) All of the following are factors in the EOQ model.

Question 8

If a product has a cost of the $250 and a selling price of $450,what is the products markup percentage?

Accepted Answer

A) 200% 
B) 80% 
C) 44.4% 
D) Not enough information to calculate 
A) 200% 
B) 80% 
C) 44.4% 
D) Not enough information to calculate

Question 9

It is said that one of the benefits of the Just-In-Time (JIT)system is that it can't hide defective products.What does this mean?

Accepted Answer

A key feature of the JIT system is that

Question 10

West Coast Creamery's economic order quantity is 300 units.Demand for the year is 41,975 units.There are seven days between the time an order is placed and the day it is received.West Coast operates 365 days per year.The reorder point is:

Accepted Answer

A) 268 units 
B) 805 units 
C) 2,683 units 
D) 2,905 units 
A) 268 units 
B) 805 units 
C) 2,683 units 
D) 2,905 units

Question 11

Which of the following companies would not be a good candidate for a JIT system?

Accepted Answer

A) Ford Motor Company 
B) The GAP 
C) A company that manufactures yachts 
D) Dell computers 
A) Ford Motor Company 
B) The GAP 
C) A company that manufactures yachts 
D) Dell computers

Question 12

Which of the following is not involved in Pure Competition

Accepted Answer

A) Cotton farmer in Texas 
B) National Basketball Association franchise 
C) Starbucks 
D) Macy's 
A) Cotton farmer in Texas 
B) National Basketball Association franchise 
C) Starbucks 
D) Macy's

Question 13

Capital Industries' president receives a bonus equal to 6% of net income.This bonus is included in the determination of net income.If the company's income before bonus was $3,800,000,the amount of the bonus is:

Accepted Answer

A) $215,094 
B) $228,000 
C) $242,553 
D) cannot be determined from the information given 
A) $215,094 
B) $228,000 
C) $242,553 
D) cannot be determined from the information given

Question 14

Which of the following best describes the competitive environment for Sony high definition TVs?

Accepted Answer

A) monopolistic competition 
B) pure competition 
C) free competition 
D) monopoly 
A) monopolistic competition 
B) pure competition 
C) free competition 
D) monopoly

Question 15

The type of environment where a large number of sellers produce and distribute virtually identical products and services is referred to as:

Accepted Answer

A) Monopolistic competition 
B) Oligopolistic competition 
C) Price competition 
D) Pure competition 
A) Monopolistic competition 
B) Oligopolistic competition 
C) Price competition 
D) Pure competition

Question 16

A reorder point in a Kanban system is identified by a:

Accepted Answer

A) A card 
B) A color coded inventory item 
C) A predetermined date 
D) A pokemon 
A) A card 
B) A color coded inventory item 
C) A predetermined date 
D) A pokemon

Question 17

Barton Corporation generated the following income:
   Jackson Barton,the president of Barton Corporation,wants to establish a bonus system.If the tax rate is 30%,what is President Barton's bonus under each of the three options below. 
A.Bonus based on Income before Bonus and Taxes using a bonus rate of 6%.

Accepted Answer

Bonus = (Income before bonus and taxes -

Question 18

Which of the following companies would be a good candidate for a JIT system?

Accepted Answer

A) Grocery Store 
B) Macys 
C) Construction company 
D) Sporting Goods Store 
A) Grocery Store 
B) Macys 
C) Construction company 
D) Sporting Goods Store

Question 19

Which of the following business are considered part of monopolistic competition?

Accepted Answer

A) Power Company 
B) Athletic Shoe Company 
C) Oil Company 
D) Fruit Farmer 
A) Power Company 
B) Athletic Shoe Company 
C) Oil Company 
D) Fruit Farmer

Question 20

Match between columns
                        Premises: Payment for services rendered based on a fixed set of time.
Payment for services rendered based on hours worked.
The full amount an employee earns.
Payment for services rendered based on a percentage of revenue generated.
A fringe benefit based on the occurrence of some future event.
The employees take-home pay.
Payment for services rendered based on the number of items completed.

Accepted Answer

The Answer of Hourly Pay and Piece-rate Pay and Net is...

Which of the following is not withheld from the employee's check?

How are defective products identified in a JIT inventory system?

Life-cycle pricing:

In general,which of the following is true about the pricing of products?

Mobile phone providers that offer no or low cost phones when customers sign up for service is an example of which pricing strategy?

Which of the following is not a factor in the EOQ inventory model?

If a product has a cost of the $250 and a selling price of $450,what is the products markup percentage?

It is said that one of the benefits of the Just-In-Time (JIT)system is that it can't hide defective products.What does this mean?

West Coast Creamery's economic order quantity is 300 units.Demand for the year is 41,975 units.There are seven days between the time an order is placed and the day it is received.West Coast operates 365 days per year.The reorder point is:

Which of the following companies would not be a good candidate for a JIT system?

Which of the following is not involved in Pure Competition

Capital Industries' president receives a bonus equal to 6% of net income.This bonus is included in the determination of net income.If the company's income before bonus was $3,800,000,the amount of the bonus is:

Which of the following best describes the competitive environment for Sony high definition TVs?

The type of environment where a large number of sellers produce and distribute virtually identical products and services is referred to as:

A reorder point in a Kanban system is identified by a:

Which of the following companies would be a good candidate for a JIT system?

Which of the following business are considered part of monopolistic competition?

Accounting and Business

Business Processes and Accounting Information

Operating Processes: Planning and Control

Short-Term Decision Making

Planning, The Balanced Scorecard, and Budgeting

Accounting Information Systems

Purchasinghuman Resourcespayment Process: Recording and Evaluating Expenditure Process Activities

Recording and Evaluating Conversion Process Activities

Recording and Evaluating Revenue Process Activities

Time Value of Money

Planning Investments: Capital Budgeting

Planning Equity Financing

Planning Debt Financing

Recording and Evaluating Capital Resource Process Activities: Financing

Recording and Evaluating Capital Resource Process Activities: Investing

Company Performance: Profitability

Company Performance: Owners Equity and Financial Position

Company Performance: Cash Flows

Company Performance: Comprehensive Evaluation

Filters

Exam 5: Strategic Planning Regarding Operating Processes

Which of the following is not withheld from the employee's check?

How are defective products identified in a JIT inventory system?

Life-cycle pricing:

In general,which of the following is true about the pricing of products?

Mobile phone providers that offer no or low cost phones when customers sign up for service is an example of which pricing strategy?

Which of the following is not a factor in the EOQ inventory model?

If a product has a cost of the $250 and a selling price of $450,what is the products markup percentage?

It is said that one of the benefits of the Just-In-Time (JIT)system is that it can't hide defective products.What does this mean?

West Coast Creamery's economic order quantity is 300 units.Demand for the year is 41,975 units.There are seven days between the time an order is placed and the day it is received.West Coast operates 365 days per year.The reorder point is:

Which of the following companies would not be a good candidate for a JIT system?

Which of the following is not involved in Pure Competition

Capital Industries' president receives a bonus equal to 6% of net income.This bonus is included in the determination of net income.If the company's income before bonus was $3,800,000,the amount of the bonus is:

Which of the following best describes the competitive environment for Sony high definition TVs?

The type of environment where a large number of sellers produce and distribute virtually identical products and services is referred to as:

A reorder point in a Kanban system is identified by a:

Which of the following companies would be a good candidate for a JIT system?

Which of the following business are considered part of monopolistic competition?

Accounting and Business

Business Processes and Accounting Information

Operating Processes: Planning and Control

Short-Term Decision Making

Planning, The Balanced Scorecard, and Budgeting

Accounting Information Systems

Purchasinghuman Resourcespayment Process: Recording and Evaluating Expenditure Process Activities

Recording and Evaluating Conversion Process Activities

Recording and Evaluating Revenue Process Activities

Time Value of Money

Planning Investments: Capital Budgeting

Planning Equity Financing

Planning Debt Financing

Recording and Evaluating Capital Resource Process Activities: Financing

Recording and Evaluating Capital Resource Process Activities: Investing

Company Performance: Profitability

Company Performance: Owners Equity and Financial Position

Company Performance: Cash Flows

Company Performance: Comprehensive Evaluation

Filters