Finance
Which of the following most accurately describes the overall purpose of accounting:
A. To estimate and pay taxes
B. To keep track of expenses
C. To maintain financial information
D. To keep track of income
C. Maintain financial information
The marketing concept is all about the
A. Wholesaler
B.Marketer
C.Customers
D.Retailer
C. Customers
An expensive jewelry store provides computer tablets with a fun jewelry design game to entertain customers' children. The store is
A. accommodating the needs of parents.
B. encouraging children to visit the store.
C. developing a new jewelry line for kids.
D. preventing children from touching displays.
In which component of the project's statement of work (SOW) would the following message most likely appear: "Due to the limited amount of time allocated to complete the study, the survey sample size may need to be reduced."
A. Deliverables
B. Purpose
C. Constraints
D. Benefits
C. Constraints
The manager of a gift shop has doubled the selling price of one type of small, stuffed animals because customers want more of the items than are available to buy. What factor affecting selling price is involved in this situation?
A. Cost and expense
B. Government regulation
C. Supply and demand
D. Competition
C. Supply and Demand
47. Which of the following is an example of an indirect cost:
A. Insurance
B. Wages
C. Commission
D. Materials
A. Insurance
As Ben assesses his personal strengths and weaknesses, what can he do to keep from focusing too much on his weaknesses?
A.Develop a list of false generalizations
B.Compare himself to others
C.Identify one strength for every weakness
D. Ask others for critical feedback
C. Identify one strength for every weakness
Kaitlin's boss recently asked her to write a financial report that supports the company's plan to open a new manufacturing plant. Even though she feels uncomfortable “fudging the numbers” to support the plan's feasibility, she does it because her boss asked her to. This is an example of how __________ can impact ethics in finance.
A. obedience to authority
B. self-interest
C. conformity and groupthink
D. incrementalism
A. obedience to authority
Rita knows she will get a bonus if she pushes for her company to go through with a merger, but she also knows that in the long term, this merger might threaten her job. If Rita supports the merger, she is likely motivated by
A. sunk costs.
B. incrementalism.
C. short-term gratification.
D. overoptimism and overconfidence.
C. Short-term gratification
Gross profit shows business owners the difference between what they've
A. spent and received.
B. received and billed.
C. estimated and invoiced.
D. paid and risked.
A. Spent and Received
18. When Gabriela’s parents passed away, their assets were transferred to her. Those assets were taxed by the federal government according to their current market value. This is an example of a(n) __________ tax.
A. estate
B. tax
C. excise
D. income
A. estate
Pick the best response:Where do products opportunities exists?
A. Anywhere that people have had their needs satisfied
B.Where people work
C.Where people participate in their hobbies
D. Anywhere there is an unmet/under met need
D.Anywhere there is an unmet/under met need
Finemart's bookkeeper journalizes the business's income and expenditures at the time they occur even if no money changes hands at that time. Finemart uses the __________ accounting method to record transactions.
A. cash
B. tax
C. managerial
D. accrual
D.Accural
Reynolds Uniform Supplier agreed to sell 500 customized polo shirts to a fast-food restaurant chain at a price of $10 each. After receiving the shirts, however, the fast-food restaurant was surprised to find that the order was missing 100 shirts—and that the supplier charged them $12 per shirt instead of $10. Reynolds Uniform Supplier most likely violated __________ law.
A. tax
B. contract
C. sales
D. property
B.Contract
When a company has achieved a maximum level of efficiency, the long-run average total costs of production have been
A. ignored.
B. expanded.
C. minimized.
D. strengthened
C. Minimized
89. Which of the following technologies has proven very successful in creating "what-if" scenarios in the finance industry:
A. Account reconciliation
B. Digital dashboards
C. Financial reporting and consolidation
D. Time value of money calculators
B. Digital Dashboards
Shelly is a union member who has been having problems with management. Shelly should report her problems to the union's
A.Mediator
B.President
C.Steward
D.Arbitrator
C.Steward
Lachlan needs to arrive at a conference by Tuesday evening. If Lachlan flies out Tuesday morning, he’ll save money on hotel costs. However, there is a risk that his flight will be delayed and he won’t make it in time. If Lachlan’s company goes ahead and schedules the flight for Tuesday morning, how is the company handling that risk?
A. Retaining
B. Transferring
C. Avoiding
D. Preventing/Controlling
A.Retaining
Kerry always obtains and saves receipts for her __________, which are a tax-deductible expense.
A. charitable gifts
B. lunch with coworkers
C. rent payments
D. political contributions
A. Charitable Gifts
Zander owns a company that buys tea from other companies in China and sells it to grocery stores. Zander's company is a(n)
A. industrial user.
B. producer.
C. wholesaler.
D. retailer
Timothy is taking a personal finance class at school. For homework one day, he is instructed to set a short-term financial goal for himself. Which of the following would be most relevant as a short-term goal for a high school student like Timothy:
A. Put $10,000 into a college savings account
B. Save $50 for Christmas presents for his family
C. Plan to become a senior-level executive by age 30
D. Set $5,000 aside per year for retirement
B. Save $50 for Christmas presents for his family
A business should decide at the beginning of a marketing-research project how much it can afford to spend in order to
A.Tell the researcher when to stop the project
B.Narrow the focus of the research if necessary
C.Cut the project in half if that's all it can afford
D.Skip some of the research steps if it needs to save time
Ken is developing a web page for a new bed-and-breakfast inn. He wants to add information on the web page that describes local tourist attractions and restaurants. To allow website visitors the ability to visit these other websites from the bed-and breakfast inn's website, Ken should create
A. portals.
B. cookies.
C. hyperlinks.
D. a site map.
C.Hyperlinks
Ranga wants to save for retirement. Ideally, he would like a retirement plan that allows him to make tax-free withdrawals from his account during retirement. What retirement plan would be best for Ranga?
A. 401(k) plan
B. Roth IRA
C. Traditional IRA
D. 403(b) plan
B. ROTH IRA
Which of the following equations should employees know when they are verifying the accuracy of a business's balance sheet:
A. Owner's Equity = Available Cash - Liabilities
B. Assets = Owner's Equity - Liabilities
C. Owner's Equity = Liabilities + Available Cash
D. Assets = Liabilities + Owner's Equity
D. Assets=Liabilities + Owner's Equity