zilongwang/ReadingBank huggingface dataset:
AACSB: Analytic Blooms: Understand Difficulty: 2 Medium Learning Objective: 02-01 Describe the four factors that directly influence individual behavior and performance. Topic: Ability 55. Competencies relate most closely to which element in the MARS model of behavior and performance? Competencies are characteristics of a person that result in superior performance. Competencies are closely related to a person's skills. AACSB: Analytic Blooms: Remember Difficulty: 1 Easy Learning Objective: 02-01 Describe the four factors that directly influence individual behavior and performance. Topic: Ability 56. Aptitudes, skills, and knowledge of an individual can be classified as his/her: Ability includes both the natural aptitudes and the learned capabilities. Learned capabilities are the skills and knowledge a person currently possesses. AACSB: Analytic Blooms: Remember Difficulty: 1 Easy Learning Objective: 02-01 Describe the four factors that directly influence individual behavior and performance. Topic: Ability 57. All technical employees at a paper mill take a course on how to operate a new machine. This course will improve job performance mainly by altering employees':
ANS: B PTS: 1 DIF: Difficulty: Easy NAT: BUSPROG: Analytic LOC: DISC: The study of economics and definitions of economics KEY: Application 23. What is the most prominent rationing device you will likely find at your campus bookstore? a. dollar b. brute force c. anti-theft tags on the high-priced items d. none of the above ANS: A PTS: 1 DIF: Difficulty: Easy NAT: BUSPROG: Analytic LOC: DISC: The of economics and definitions of economics KEY: Bloom's: Application 24. Economists believe that people's wants are a. finite. b. infinite. c. irrational. d. unimportant because needs are more important than wants. ANS: B PTS: 1 DIF: Difficulty: Easy NAT: BUSPROG: Analytic LOC: DISC: The study of economics and definitions of economics KEY: Bloom's: Knowledge 25. In every economy people vie for the economy's rationing device, a process called a. competition. b. entrepreneurship. c. marginal benefit. d. positive economics. ANS: A PTS: 1 DIF: Difficulty: Easy NAT: BUSPROG: Analytic LOC: DISC: The study of economics and definitions of economics KEY: Bloom's: Knowledge 26. Scarcity means a. wants are greater than the limited resources available to satisfy these wants. b. wants are less than the limited resources available to satisfy these wants. c. resources are infinite. d. wants are limited. e. both c and d ANS: A PTS: 1 DIF: Difficulty: Moderate NAT: BUSPROG: Analytic LOC: DISC: Scarcity, tradeoffs, and opportunity cost KEY: Bloom's: Comprehension 27. The need to make choices is most closely related to the concept of a. opportunity cost.
that a worker in Country A can make either 25 bananas or 5 tomatoes each year. Country A has 200 workers. Suppose a worker in Country B can make either 18 bananas or 6 tomatoes each year. Country B has 400 workers. For a worker in Country B, the trade-off to making one tomato is: that a worker in Country A can make either 25 bananas or 5 tomatoes each year. Country A has 200 workers. Suppose a worker in Country B can make either 18 bananas or 6 tomatoes each year. Country B has 400 workers. For a worker in Country A, the trade-off of making one tomato is: that a worker in Country A can make either 25 bananas or 5 tomatoes each year. Country A has 200 workers. Suppose a worker in Country B can make either 18 bananas or 6 tomatoes each year. Country B has 400 workers. The workers in Country A should specialize in __________________ because they possess the ___________________ in the production of that good.
AACSB: Reflective Thinking Blooms: Remember Learning Objective: 02-02 Define absolute and comparative advantage. Topic: Absolute Advantage 116. Refer to the figure shown, which represents the production possibilities frontiers for Countries A and B. After examining each country's production possibilities curves, it is clear that: AACSB: Reflective Thinking Blooms: Understand Learning Objective: 02-04 Explain how the gains from trade follow from comparative advantage. Topic: Trade
21. of the following ethical frameworks is the study of the choices that have been made by individuals in the past; attempting to answer the question, what do others think is right? 22. ethical standard is based on the notion that life in community yields a positive outcome for the individual, requiring each individual to contribute to that community? 23. There are three general categories of unethical behavior that organizations and society should seek to eliminate. Which of the following is NOT one of them? 24. Which of the following is the best method for preventing an illegal or unethical activity? Examples include laws, policies and technical controls. 25. Which of the following organizations put forth a code of ethics designed primarily for InfoSec professionals who have earned their certifications? The code includes the canon: Provide diligent and competent service to principals. 26. Which of the following is compensation for a wrong committed by an employee acting with or without authorization?
72. (p. 5, 6) Describe the five tasks of management. • Planning: Deciding on goals and the actions the organization must take to meet them. • Organizing: Grouping related activities together and assigning employees to perform them. • Staffing: Deciding how many and what kind of people an organization needs to meet its goals and then recruiting, selecting, and training the right people. • Leading: Providing the guidance employees need to perform their tasks, inspiring and motivating employees, and keeping the lines of communication open. • Controlling: Monitoring progress, measuring how the organization performs to ensure that financial goals are being met, and making changes if the financial goals are not being met. Difficulty: Hard 73. (p. 7) Briefly describe the three different management skills that managers need to perform their jobs. are three different skills that managers need to perform their jobs. • Conceptual skills are those that help managers understand and analyze complex situations and how different parts of an organization relate to one another and to the organization as a whole. • Human relations skills are those that managers need to understand and work well with people. They include an understanding of effective leadership, communications, and motivation. • Technical skills are the specific abilities that people use to perform their jobs. Difficulty: Medium 74. (p. 7) Explain the decision-making of management. Decision-making roles are those a manager plays when making changes in policies, resolving conflicts, or deciding how best to use resources. • Entrepreneur role: Manager initiates change. • Disturbance handler role: Manager decides how conflicts between subordinates should be resolved and steps in when needed. • Resource director role: Manager decides how the organization will use its resources. • Negotiator role: Manager decides to negotiate major contracts. Difficulty: Medium
Explanation: D) Calculations: 112,500 / 7,500 = 15 Diff: 2 LO: 2-7 EOC: E2-41B AACSB: Reflective thinking Learning Outcome: Define and use cost-volume-profit analysis to analyze the effects of changes. 263) A company has monthly costs of $112,500. The variable costs are $6.00 per unit. If the sales price of a unit is $19.00 and we sell 7,500 units, the company's total variable costs will be A) $112,500. B) $45,000. C) $142,500. D) $97,500. Answer: B Explanation: B) Calculations: 7,500 × $6.00 = $45,000 Diff: 2 LO: 2-7 EOC: E2-41B AACSB: Reflective thinking Learning Outcome: Define and use cost-volume-profit analysis to analyze the effects of changes. 264) A company has monthly costs of $112,500. The variable costs are $6.00 per unit. If the sales price of a unit is $19.00 and we sell 7,500 units, the total sales revenue will be A) $97,500. B) $112,500. C) $142,500. D) $(15,000). Answer: C Explanation: C) Calculations: $19.00 × 7,500 = $142,500 Diff: 2 LO: 2-7 EOC: E2-41B AACSB: Reflective thinking Learning Outcome: Define and use cost-volume-profit analysis to analyze the effects of changes. 265) The price of a particular unit is $19.00. The company plans to sell 7,500 units. The variable costs are $6.00 per unit and monthly fixed costs are $112,500. Given this information what is the average fixed cost per unit? A) $6.00 per unit B) $21.00 per unit C) $13.00 per unit D) $15.00 per unit Answer: D Explanation: D) Calculations: 112,500 / 7,500 = 15 Diff: 2 LO: 2-7 EOC: E2-41B AACSB: Reflective thinking Learning Outcome: Define and use cost-volume-profit analysis to analyze the effects of changes.
282) Sydney's Barbecue manufactures barbecue equipment for consumers and businesses in the marketplace. The managerial accountant at Sydney's Barbecue reported the following data: What is the average manufacturing cost per unit at Sydney's Barbecue? (Round your answer) A) $58 B) $68 C) $75 D) $85 E) $95 Answer: A Explanation: A) The average manufacturing cost per unit is $58. $3,500,000/60,000 = $58.33. Diff: 3 LO: 2-7 EOC: E2-41B AACSB: Analytical thinking Learning Outcome: Define and use cost-volume-profit analysis to analyze the effects of changes in costs and volume on a company's profits. 283) Sydney's Barbecue reported the following information: What is the amount of ending finished inventory for the period ending December 31, 20XX? A) $850,000 B) $860,000 C) $870,000 D) $880,000 E) $890,000 Answer: C Explanation: C) 60,000 units - 45,000 units = 15,000 units × $58 per unit = $870,000 Diff: 3 LO: 2-7 EOC: P2-43A AACSB: Analytical thinking Learning Outcome: Define and use cost-volume-profit analysis to analyze the effects of changes in and volume on a company's profits. 284) Stacy's Manufacturing Company manufactures parts to accommodate the needs of bicycle shops. The managerial accountant reported the following data: Compute the average manufacturing cost per unit. What is the amount of ending finished goods inventory? Answer: The average manufacturing cost per unit: $2,250,000 / 50,000 = $45.00. The amount of finished goods inventory: 50,000 units - 30,000 = 20,000 units × $45 = $900,000 Diff: 3 LO: 2-7
C. Fixed costs will generally decrease. D. All of choices are correct Answers 30 B 55 A 80 A 105 B 130 C 31 B 56 C 81 C 106 A 131 C 32 B 57 D 82 A 107 C 132 A 33 A 58 A 83 A 108 B 133 A 34 A 59 C 84 A 109 A 134 D 35 D 60 A 85 C 110 C 135 C 36 A 61 A 86 A 111 D 136 B 37 B 62 D 87 A 112 C 137 A 38 D 63 C 88 D 113 C 138 B 39 C 64 B 89 A 114 D 139 C 40 D 65 D 90 C 115 B 140 A 41 A 66 A 91 B 116 A 141 B 42 A 67 A 92 C 117 A 142 C 43 D 68 C 93 A 118 B 143 C 44 A 69 B 94 B 119 D 144 C 45 C 70 C 95 C 120 A 145 A 46 B 71 B 96 B 121 C 146 B 47 A 72 A 97 B 122 C 147 B 48 D 73 B 98 D 123 D 148 D 49 A 74 C 99 D 124 A 149 D 50 C 75 D 100 A 125 A 150 A 51 A 76 B 101 B 126 A 52 D 77 A 102 C 127 B 53 D 78 D 103 D 128 D 54 A 79 A 104 D 129 A Matching 151. Match each of the following terms with the phrase that most closely describes it.Each answer may be used only once. ______ 1. activity-based costing ______ 9. overapplied overhead ______ 2. cost of goods available for sale ______ 10. period costs ______ 3. cost of goods manufactured ______ 11. process costing system ______ 4. direct materials ______ 12. product costs ______ 5. costing system ______ 13. total quality management ______ 6. just-in-time system ______ 14. underapplied overhead ______ 7. indirect materials ______ 15. work in process ______ 8. manufacturing overhead 16. predetermined overhead rate
42. If purchases of raw materials were $135,000 during the year, what was the amount of raw materials used during the year? 43. If raw materials used during the year were $135,000 what was the amount of raw materials purchased during the year? 44. If direct materials used during the year were $135,000, what was cost of goods manufactured? 45. If the cost of goods manufactured for the year was $565,000, what was the amount of direct materials used during the year?
Difficulty: 2 LO: 2-4 EOC Ref: E2-19 AACSB: Analytic Skills AICPA Business Perspective Competencies: Critical Thinking Functional Competencies: Measurement 2.4-12 Buncombe Company presents the following cost data for 2009: Estimated manufacturing overhead costs $240,000 Estimated direct labor cost $300,000 Estimated direct labor hours 30,000 Actual direct cost $315,000 Actual direct labor hours 33,000 Allocation base: Direct labor cost Other expenses: Factory depreciation on equipment $65,300 Factory rent $51,000 Factory utilities $28,900 Factory property taxes $26,000 Indirect labor $23,800 Indirect materials $32,000 Sales commissions $52,500 What is the manufacturing overhead rate? A) 76% of direct labor cost B) 125% of direct labor cost C) 80% of direct labor cost D) 105% of direct labor cost Answer: C Difficulty: 2 LO: 2-4 EOC Ref: E2-19 AACSB: Analytic Skills AICPA Business Perspective Competencies: Critical Thinking AICPA Functional Competencies: Measurement 2.4-13 Daniel Company's manufacturing overhead account showed a $4,500 overallocated balance at the end of 2005. Actual overhead incurred was $95,000. Other accounts showed the following balances: Materials inventory $10,000 Work in process inventory $30,000 Finished goods inventory $45,000 Cost of goods sold $275,000 The entry to close the manufacturing overhead account would include which of the following? A) Credit to work in process for $4,500 B) Debit to work in process for $4,500 C) Debit to cost of goods sold for $4,500 D) Debit to manufacturing overhead for $4,500
hours would most likely constitute a decision variable rather than a constraint. Answer: FALSE Page Ref: 24 Formulating a Linear Programming Model Difficulty: Easy 30) When Solver, the parameter Changing Cells is typically associated with the objective function. Answer: FALSE Page Ref: 45 Topic: Setting Up and Solving Linear Programming Problems Using Excel's Solver Difficulty: Easy 31) The simplex method is an algebraic solution procedure for a linear programming problem. Answer: TRUE Page Ref: 52 Topic: Algebraic Solution Procedures for Linear Programming Problems Difficulty: Easy 32) Karmarkar's method is synonymous with the corner point method. Answer: Page Ref: 52 Topic: Algebraic Solution Procedures for Linear Programming Problems Difficulty: Moderate 2.2 Excel Problems 1) Consider the following linear programming problem. Maximize 6X1 + 4X2 Subject to: X1 + 2X2 ≤ 16 3X1 + 2X2 ≤ 24 X1 ≥ 2 X1, X2 ≥ 0 Use Solver to find the optimal values of X1 and X2. Answer: 2) Consider the following linear programming problem. Maximize 5X1 + 3X2 Subject to: X1 + X2 ≤ 20 X1 ≥ 5
22. The curve which summarizes the total quantity producers are willing and able to produce at differing prices is the: 23. The law of supply states that, holding all else constant, as the price of a good falls: 24. The economic principle that producers are willing to produce more output when is high is depicted by the: 25. For a steel factory, a decrease in the cost of electricity to the plant will cause the supply curve to:
91. When the government imposes a price floor above the market price, the result will be that 92. Jane pays the market of $69 for a new pair of running shoes, even though she would be happy to pay a maximum of $100 for the same pair of shoes. This is an example of the concept of 93. In a competitive market, the market demand is Qd = 70 - 3P and the market supply is Qs = 6P. A price ceiling of $4 will result in a 94. The law of demand indicates that as the price of a good increases, the quantity that 95. of the following is probably not a normal good?
11) Whereas ________ refers to fundamental beliefs about what is right or wrong, ________ refers to standards of conduct. A) attitudes; justice B) world religions; behavioral inclination C) ethical values; morality D) moral values; ethics Answer: D Diff: 9 Page Ref: 41-42 LO: 3 12) Which of the following is the best definition of ethics? A) Standards of conduct that guide peopleʹs decisions and behavior B) Moral values that determine behavior C) Philosophical principles that are universal in their applications D) Fundamental beliefs about what is right and what is wrong Answer: A Diff: 5 Page Ref: 42 LO: 3 13) The culture of the organization, the behavior of the leaders, and group norms collectively impact an employeeʹs A) behavior. B) moral values. C) standards of conduct. D) ethics. Answer: A Diff: 5 Page Ref: 42 LO: 3 14) Businesses have found that the long-term impact of promoting ethical behavior includes A) increased operating costs. B) a reputation for pious and self-righteous posturing. C) an inability to attract and retain ethical employees. D) improved financial performance. Answer: D Diff: 6 Page Ref: 43 LO: 3 15) The False Claims Act of 1986 A) provides guidelines for penalizing organizations involved in illegal activities. B) focuses on the fiduciary responsibilities of boards of directors. C) protects whistleblowers who report fraudulent behavior against U.S. government agencies. D) penalizes corporate officers who submit fraudulent accounting data. Answer: C Diff: 6 Page Ref: 44 LO: 3
29. The Myers-Briggs Type Indicator measures personal values. FALSE The Type Indicator measures personality preferences. Refer: Table 1.3 AACSB: Analytic Blooms: Remember Difficulty: 1 Easy Learning Objective: 01-04 Explain the role of organizational behavior and evidence-based management in effective management. Topic: Building Self-Awareness 30. For improving managerial behavior, obtaining feedback from more than one source is usually a waste of time. FALSE Obtaining feedback from more than one source enhances and consequently improves managerial behavior. AACSB: Analytic Blooms: Remember Difficulty: 1 Easy Learning Objective: 01-05 Explain the steps involved in making a personal change. Topic: Building Self-Awareness Multiple Choice Questions 31. Which of the following is NOT a managerial reality?
Our personal characteristics such as core values, interpersonal preferences, and career orientations are those with which we feel most comfortable and natural. You can choose to behave outside your preferences, but it will require a significantly higher level of your conscious energy to do so. Analytic Blooms: Understand Difficulty: 2 Medium Learning Objective: 01-04 Explain the role of organizational behavior and evidence-based management in effective management. Topic: Building Self-Awareness 53. The main reason young managers do not actively pursue is:
39. On the northern tip of Goose Island in the Chicago River sits the William Wrigley Jr. Company's Global Innovation Center. Here Wrigley can create new products—a joint effort by some 250 full-time food scientists, researchers, and marketers. The people who work in this center are most likely members of 40. Which of the following statements would most likely be heard at the functional level of an organization? 41. In terms of an organization's vision, railroads may have lost business because they: 42. Railroads may have let forms of transportation take business away from them because their definition included only the railroad business, rather than the broader definition of:
194. The Boston Consulting Group's business portfolio analysis model can be used to guide a firm as it tries to change its relative market share (the factor on the horizontal axis). What conscious decisions can management make on the role each SBU should have in the future and how money should be budgeted for its operations? Answers will vary Feedback: The firm can invest more in the SBU in order to build its share, it can invest just enough to hold the SBU's share at about its current level, it can harvest the SBU trying to milk its short-term cash flow, even though it may lose share and become a dog in the longer run, or the firm can divest the SBU by phasing it out or actually selling it to gain cash to invest in the remaining SBUs. Blooms: Understand - Chapter 02 #194 Difficulty: Medium Learning Objective: 02-03 Discuss how an organization assesses where it is now and where it seeks to be. 195. Identify and describe the four market-product strategies an organization uses to identify alternative market opportunities. The four market-product strategies an organization uses to identify alternative market opportunities are: Answers will vary Feedback: (1) market penetration, which involves selling more of an existing product to existing market segments (2) product development, which involves developing a new product for existing market segments (3) market development, which involves selling an existing product to new market segments (4) diversification, which involves selling a new product to new market segments Blooms: Understand Crane - Chapter 02 #195 Difficulty: Medium Learning Objective: 02-03 Discuss how an organization assesses where it is now and where it seeks to be.
Test Bank for Marketing Management 2nd Edition by Marshall Complete downloadable file at: True / False Questions 1. Even with great marketing, vast numbers of potential customers have never heard of some products or services. Some people think that marketing is all about advertising, pushy salespeople, celebrity spokespeople, spam e-mail, and overstated product claims. True False 2. The American Marketing Association defines marketing as "the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large." Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. True False 3. Marketing is relevant only to people in the organization that work directly in the marketing department. True False 4. Of all the business fields, marketing is most visible to people outside the organization. Peter Drucker stated that since it is the customer who defines value, the business enterprise has only two business functions: marketing and innovation. True False 5. Sustainability refers to practices of socially responsible firms that incorporate doing well by doing good. True False 6. A firm with a production orientation assumes that "if you it, they will come." Value and exchange are not considered to be core marketing concepts. True False 7. Dell Computers employs one-to-one marketing by allowing a customer essentially to customize the product features that he or she desires. When Henry Ford said "People can have the Model T in any color—so long that it's black," he was reflecting a selling focus. True False
49. Answer the question on the of the following information: Suppose 30 units of product A can be produced by employing just labor and capital in the four ways shown below. Assume the prices of labor and capital are $2 and $3 respectively. Refer to the information. Which technique is economically most efficient in producing A? 50. Answer the question on the basis of the following information: Suppose 30 units of product A can be produced by employing just labor and capital in the four ways shown below. Assume the prices of labor and capital are $2 and $3 respectively. Refer to the information. If the price of product A is $0.50, the firm will realize: 51. In a competitive market economy, firms select the least-cost production technique because: 52. The market system's answer to the fundamental question "What will be produced?" is essentially:
Reflective Thinking Accessibility: Keyboard Navigation Blooms: Apply Difficulty: 2 Medium Learning Objective: 02-03 Explain how the market system answers the five fundamental questions of what to produce; how to produce; who obtains the output; how to adjust to change; and how to promote progress. Learning Objective: 02-04 Explain the operation of the "invisible hand" and why market economies usually do a better job than command economies at efficiently transforming economic resources into desirable output. Topic: Five fundamental questions Topic: Invisible hand 33. From society's point of view, the economic function of profits and losses is to: AACSB: Reflective Thinking Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Learning Objective: 02-03 Explain how the market system answers the five fundamental questions of what to produce; how to produce; who obtains the output; how to adjust to change; and how to promote progress. Learning Objective: 02-04 Explain the operation of the "invisible hand" and why market economies usually do a better job than command economies at efficiently transforming economic resources into desirable output. Topic: Five fundamental questions Topic: Invisible hand 34. In a market economy a significant change in consumers' desire for product X will: AACSB: Reflective Thinking Accessibility: Keyboard Navigation Blooms: Apply Difficulty: 2 Medium Learning Objective: 02-03 Explain how the market system answers the five fundamental questions of what to produce; how to produce; who obtains the output; how to adjust to change; and how to promote progress. Learning Objective: 02-04 Explain the operation of the "invisible hand" and why market economies usually do a better job than command economies at efficiently transforming economic resources into desirable output. Topic: Five fundamental questions Topic: Invisible hand 35. Economic profits in an industry suggest the industry:
46. Without more information, the supply and demand cannot predict the effect on price of: AACSB: Analytic Blooms: Understand Difficulty: 2 Medium Topic: Market Equilibrium 47. The ______ the demand curve, the _____ responsive is the amount demanded to price. Reflective Thinking Blooms: Remember Difficulty: 1 Easy Topic: Elasticities of Demand and Supply 48. Suppose there is an increase in the supply of a good. Which of the following statements is true?
AACSB: Analytic Blooms: Understand Difficulty: 2 Medium Topic: Elasticities of Demand and Supply 60. Isoelastic demand that: AACSB: Analytic Blooms: Understand Difficulty: 2 Medium Topic: Elasticities of Demand and Supply 61. If a firm that the demand for its product is inelastic, it could generate more revenue by:
Classification: Conceptual 27) F.W. Taylor's approach was unpopular with workers and unions because they feared that reengineering their jobs would lead to ________. A) lower piecework rates B) a decrease in productivity C) workers losing their jobs D) longer work days E) an increase in quality Answer: C Page Ref: 29 Objective: 2 Difficulty: Easy Classification: Conceptual 28) The primary investigative tool in the Gilbreths' research was ________, which consists of reducing each job to the most basic movements possible. A) ergonomics B) motion C) piecework D) reductionism E) division of work Answer: B Page Ref: 30 Objective: 2 Difficulty: Easy Classification: Conceptual 29) Among the sample variables considered in analyzing motions, as pioneered by the Gilbreths, the environmental variables include ________. A) anatomy B) habits C) health D) E) work clothes Answer: E Page Ref: 30 Objective: 2 Difficulty: Easy Classification: Conceptual 30) The Gilbreths aimed to increase worker efficiency by ________. A) reducing the number of movements taken to accomplish a task B) enforcing minimum criteria for the types of workers hired for a job C) instituting the piece-rate system for remuneration D) understanding what motivates employees to complete a task
29. In comparing money to a U.S. Treasury bond held by an individual, we can say: 30. In comparing to a share of Microsoft stock held by an individual, we can say: 31. Comparing checks and currency, we can say: 32. When the Continental Congress issued currency to finance the Revolutionary War, the Continental Congress:
do economists claim the Consumer Price Index (CPI) tends to overstate the actual rate of inflation? has the Bureau of Statistics (BLS) changed the calculation of the CPI in order to take substitution bias into account? was the double liquidity shock that occurred in the U.S. financial system in the summer of 2007? are electronic transactions increasingly taking the place of paper transactions? Essay Questions
AACSB: Reflective Thinking Accessibility: Keyboard Navigation Blooms: Remember Difficulty: 1 Easy Learning Objective: 02-02 Understand the payments system today and tomorrow. Topic: The Payments System 39. Which of the following could not be commodity money? AACSB: Reflective Thinking Accessibility: Keyboard Navigation Blooms: Remember Difficulty: 2 Medium Learning Objective: 02-02 Understand the payments system today and tomorrow. Topic: The Payments System 40. U.S. currency is: AACSB: Reflective Thinking Accessibility: Keyboard Navigation Blooms: Remember Difficulty: 2 Medium Learning Objective: 02-02 Understand the payments system today and tomorrow. Topic: The Payments System 41. One major difference between a debit card and a credit card is:
23. (p. 69) Good ____________ is critical for defending against the lowball/highball (or all) hardball tactics. preparation 24. (p. 73) The _____________________ tactic occurs when negotiators overwhelm the other party with so much information that they have trouble determining which information is real or important. snow job 25. (p. 74) ___________________ is a conflict situation wherein parties seek own advantage through tactics including concealing information, attempting to mislead or using manipulative actions. Distributive bargaining True / Questions 26. (p. 36) Distributive bargaining strategies are the only strategies that are effective in interdependent situations. FALSE 27. (p. 36) Distributive bargaining strategies and tactics are useful when a negotiator wants to maximize the value obtained in a single deal. TRUE 28. (p. 36) The resistance point is the point at which a negotiator would like to conclude negotiations. FALSE 29. (p. 37) Both parties to a negotiation should establish their starting, target and resistance point before beginning negotiation. TRUE 30. (p. 38) Anything outside the bargaining will be summarily rejected by one of the negotiators. TRUE
Short Answer Questions 76. (p. 35) Define distributive bargaining. A competition over who is going to get the most of a limited resource (often money). 77. (p. 36) List two situations when distributive bargaining strategies are useful. When a negotiator wants to maximize the value obtained in a single deal and when the relationship with the other party is not important. 78. (p. 38) A negative bargaining occurs when: The seller's resistance point is above the buyer's. 79. (p. 38) How can a negotiation that begins with a negative bargaining be resolved? If one or both parties are persuaded to change resistance points, or if someone else forces a solution upon them that one or both parties dislike. 80. (p. 40) What can happen when one or both parties do not think they got the best agreement possible? One party or the other may try to get out of the agreement later or try to recoup losses or get even. 81. (p. 41) Define bargaining mix. The package of issues for negotiation. 82. (p. 44) What are the four important tactical tasks for a negotiator in a distributive bargaining situation? (1) Assess the other party's outcome values and the costs of terminating negotiations; (2) manage the other party's impression of one's own outcome values; (3) modify the other party's perception of his or her own outcome values; (4) manipulate the actual costs of delaying or aborting negotiations.
27. The TCP and UDP protocols both exist at what layer of the OSI model? 28. The frame header at the Data Link layer includes hardware addresses of the source and destination NICs. What is another name for this address? 29. In the TCP/IP model, what layer is considered so simple that it is ignored entirely?
24) A firm has accounts receivable of $150,000. During the year, sales are $500,000, of which $300,000 are cash sales. What is the average collection period? A) 109.5 days B) 182.5 days C) 273.8 days D) 486.7 days E) None of the above Answer: C Comment: Average collection period = Average collection period = = 273.8 days Diff: 3 Section: 3.4 AACSB: Analytical Skills Learning Outcome: F-02: Analyze the types of financial statements 25) What is a firm's debt if its total assets are $135,000, equity is $75,000, current liabilities are $24,000, and total liabilities are $105,000? A) 140% B) 110% C) 50% D) 60% E) 78% Answer: E Comment: Debt ratio = Debt ratio = = 78% Diff: 2 Section: 3.5 AACSB: Analytical Skills Learning Outcome: F-02: Analyze the major types of financial statements 26) Market ratios differ from other ratios because A) they are based on information not contained in the firm's financial statements. B) they are the only ratios that may have negative values. C) they are the most important ratios to shareholders. D) they are the only ratios that relate equity measures to variables. E) they are less precise. Answer: A Comment: Market ratios are distinct from other ratios in that they are based, at least in part, on information not contained in the firm's financial statements. Diff: 1 Section: 3.6 Analytical Skills Learning Outcome: F-02: Analyze the major types of financial statements 27) If a firm has 100,000 shares of common outstanding and has just recorded a $45,000 profit, what is its price/earnings ratio if its current share price is $35? A) 0.78 B) 0.45
13. (p. 35) Research has found that people are motivated by which of the following? Blooms: Remember Difficulty: 1 Easy 14. (p. 36) Which of the following is the least characteristic driver of successful entrepreneurs? Blooms: Remember Difficulty: 1 Easy 15. (p. 37) Which of the following is not one of the three attributes that research has shown underlie the success in a new venture? Blooms: Remember Difficulty: 2 Medium 16. (p. 37) According to the authors, of the seven dominant themes of entrepreneurship is the most important?
Blooms: Remember Difficulty: 2 Medium 25. (p. 45, 47) According to research, which of the following statements is false? Blooms: Remember Difficulty: 3 Hard 26. (p. 49, 50) Crafting a Personal Entrepreneurial Strategy can Blooms: Remember Difficulty: 1 Easy 27. (p. 50) Which is not true about self-assessment feedback?
29. Which of the following financial documents would most likely be stored in a safe deposit box? 30. Which of the following is most correct? 31. of the following is most correct? 32. A broker statement is an example of a(n) ____________ record.
Blooms: Remember Difficulty: 2 Medium Learning Objective: 02-03 Develop and implement a personal budget. Topic: A Plan for Effective Budgeting 85. (p. The document that would be most useful to track spending patterns for the past few months is the Blooms: Understand Difficulty: 2 Medium Learning Objective: 02-04 Connect money management activities with saving for personal financial goals. Topic: Money Management and Achieving Financial Goals 86. (p. 61) The document that would be most useful to track planned spending patterns for the next month is the Blooms: Understand Difficulty: 2 Medium Learning Objective: 02-04 Connect money management activities with saving for personal financial goals. Topic: Money Management and Achieving Financial Goals 87. (p. 61) The document that would be most useful to track the current value of investment accounts is the
 The information gathered on the Challenger's expedition was compiled into a volume report. The scientists discovered 4,717 new specimens. Measurements were taken of the ocean's salinity, temperature, and water density. Ocean currents, meteorology, and sediment distribution were also recorded. They were even able to collect Manganese nodules with the use of the new equipment aboard the ship. Information can be found in the section The First Scientific Experiments Were Undertaken by Governments. PTS: 1 DIF: Knowledge 3. What was the significance of the Library of Alexandria? How did it obtain information? What happened to the library? Include relevant dates and famous people associated with the library. ANS: Answer should include:  The Library of Alexandria was founded in the third century. It held the greatest collection of ancient writings at that time. Some say that it was a university of sorts because there was such an exchange of information.  The library used laws to acquire original logs from ships that came into the harbor. The library copied the logs and returned the copies to the owners, while keeping the originals for the library. They collected information from land caravans in the same way.  Traders quickly realized the competitive benefit of this information.  The library existed for 600 years and had many librarians.  Hypatia, the last librarian, was met with resistance from Christians. They viewed this woman, a mathematician and a symbol of science, as a pagan. She was murdered in A.D. 415.
14. (p. 28) An operations strategy must resist change because of the long term nature of equipment and personnel investments. FALSE Since the goals of the larger organization change over time, the operations strategy must be designed to anticipate future needs. AACSB: Analytic Blooms: Understand Difficulty: 1 Easy Learning Objective: 02-02 Understand the competitive dimensions of operations and supply chain strategy. Topic: What is Operations and Supply Chain Strategy? 15. (p. 28) Operations and supply strategy can be viewed as part of a planning process that coordinates operational goals with those of the larger organization. TRUE Operations and supply chain strategy can be viewed as part of a planning process that coordinates operational goals with those of the larger organization. AACSB: Analytic Blooms: Remember Difficulty: 1 Easy Learning Objective: 02-02 Understand the competitive dimensions of operations and supply chain strategy. Topic: What is Operations and Supply Chain Strategy? 16. (p. 29) Infrastructure decisions within operations strategy include the selection of the appropriate technology, the role of inventory and the location of facilities. Process design includes selecting the appropriate technology, sizing the process over time, determining the role of inventory in the process, and locating the process. AACSB: Analytic Blooms: Remember Difficulty: 2 Medium Learning Objective: 02-02 Understand the competitive dimensions of operations and supply chain strategy. Topic: What is Operations and Supply Chain Strategy?
85. The curved arrows in the resonance structure for the acetate ion shown below indicate the following alternative resonance structure for the acetate ion. 86. The maximum number of electrons that a molecular orbital can contain is four. 87. The following molecules all contain the same functional group except 2.
term glass ceiling was used to represent a solid roadblock that prevented women from: of the following is a result of having glass ceilings? had been working in a financial company for five years. She executed her duties sincerely and was extremely competent in her job. However, she was not given the opportunity to advance to higher-level positions. Which of the following was Sally facing?
132. Telecommuting has been identified as an important trend in organizational behavior. Discuss three organizational behavior topics that are influenced by telecommuting. (Note: Students may identify the relevance of various OB topics through creative and logical thinking.) Some of the organizational behavior topics that are influenced by telecommuting include. Stress management: Telecommuting tends to offer better work-family balance. Performance: Telecommuting seems to improve job performance by about 10 percent. Self-leadership: Telecommuters need to manage themselves rather than rely on supervisors for continuous guidance. Organizational influence and politics: Telecommuters have to adjust to the lack of networking, and learn to overcome the limitations of limited face time in demonstrating their value. AACSB: Analytic Blooms: Remember Learning Objective: 01-03 Debate the organizational opportunities and challenges of globalization; workforce diversity; and emerging employment relationships. Level of Difficulty: 2 Medium Topic: Emerging Employment Relationships 133. Discuss the conceptual anchors based on which organizational behavior is developed and redefined. The systematic research anchor states that OB knowledge should be based on systematic research, which typically involves forming research questions, systematically collecting data, and testing hypotheses against those data. The multidisciplinary anchor states that organizational behavior should welcome theories and knowledge in other disciplines, not just from its own isolated research base. The contingency anchor states that a particular action may have different consequences in different situations. The multiple levels of analysis anchor states that OB events should be understood from three levels of analysis: individual, team, and organization. AACSB: Analytic Blooms: Understand Learning Objective: 01-04 Discuss the anchors on which organizational behavior knowledge is based. Level of Difficulty: 2 Medium Topic: Anchors of Organizational Behavior Knowledge
T 11. 1–6 One of the provisions of coverage of the Civil Rights Act is that the employer must have 15 or more workers. F 12. 1–6 Title VII of the Civil Rights Act protects all employees from arbitrary dismissal. T 13. 1–6 By the use of executive orders, the federal government has banned discrimination in employment on government contracts. T 14. 1–6 Employers not subject to Title VII coverage may come within the scope of the Civil Rights Act by reason of a contract or subcontract involving federal funds. T 15. 1–6 Under the Civil Rights Act of 1964, the government is classified as an exempt employer. T 16. 1–7 An exception to the protection that the Age Discrimination in Employment Act provides for all workers over 40 involves executives who are 65 or older and who have held high policy-making positions during the two-year period prior to retirement. T 17. 1–7 Under the Federal Personal Responsibility and Work Opportunity Reconciliation Act, every employer is required to report the name, address, and social security number of each new employee to the appropriate state agency. T 18. 1–8 Form I-9 must be completed by each new hire. F 19. 1–8 Employers are now required to photocopy new employees’ Form I-9 documents. T 20. 1–8 In order for the Walsh-Healey Public Contracts Act to protect laborers for contractors who furnish materials to any agency of the , the contract amount must be at least $10,000. F 21. 1–9 Under FMLA, the time off must be used in one uninterrupted period of time. T 22. 1–9 Under the Family and Medical Leave Act, an employer can substitute an employee’s earned paid leave for any part of the 12-week family leave. F 23. 1–10 FUTA was designed to ensure that workers who are covered by pension plans receive benefits from those plans. T 24. 1–10 Under ERISA, vesting conveys to employees the right to share in a retirement fund in the event they are terminated before the normal retirement age.
1. Which of the following is not one of the components of a mathematical model? 2. Which of the following is not one of the features that can improve the readability of a spreadsheet model? 3. Which of the following is a useful tool for investigating what-if questions? 4. The Excel tool for solving one equation with one unknown is: 5. Which of the following is a useful tool for understanding and troubleshooting a spreadsheet model?
Multiple Choice 1. The two sources for the powers of the Texas government to govern are the 2. A system of government in which power is divided between a national government and associated regional governments is a(n) 3. Which of the following is a false statement about the Texas Constitution?
38. An investor purchased a call option that allows her to purchase 100 shares of Dell Computer common stock for $45 per share any time during the next six months. The current market price of Dell's stock is $42.50. If the price of Dell increases to $50 and the investor decides to exercise it, what will be the gain or loss that results from the exercise? Ignore taxes and commissions. 39. An investor purchased a call option that allows her to purchase 100 shares of Dell Computer common stock for $45 per share any time during the next six months. The price she paid for the option was $2.50 per share, or $250 total, and the current market price of Dell's stock is $42.50. If the price of Dell increases to $50 and the investor decides to exercise it, what will be the gain or loss that results from the option position that was held? Ignore taxes and commissions.
Question Status: New Guidelines: Analytic skills 14) The ________ market is where securities are initially issued and the ________ market is where pre-owned securities (not new issues) are traded. A) primary; secondary B) money; capital C) secondary; primary D) primary; money Answer: A Topic: Financial Markets Question Status: New 2.3 Describe the differences between the capital markets and the money markets. 1) The Over-the-Counter (OTC) exchange is not an organization but an intangible market for trading securities which are not listed by the organized exchanges. Answer: TRUE Topic: Financial Markets Question Status: Revised 2) Unlike the organized exchanges, the OTC makes a market in both outstanding securities and new public issues, making it both a secondary and a primary market. Answer: TRUE Financial Markets Question Status: Revised 3) In the OTC market, the ask price is the highest price offered by a dealer to purchase a given security. Answer: FALSE Topic: Financial Markets Question Status: Revised 4) In the OTC market, the prices at which securities are traded result from both competitive bids and negotiation. Answer: TRUE Financial Markets Question Status: Revised 5) Capital markets are for investors who want a safe temporary place to deposit funds where they can earn interest and for borrowers who have a short term need for funds. Answer: FALSE Topic: Financial Markets Question Status: New 6) Money markets are markets for long term funds such as bonds and equity. Answer:
Even if one person has an absolute advantage in both activities, they will do better if each specializes in the activity for she has a comparative advantage. Analytic Blooms: Understand Difficulty: 2 Medium Learning Objective: 02-01 Explain and apply the Principle of Comparative Advantage. Topic: Exchange and Opportunity Cost 30. In general, individuals and nations should specialize in producing those goods for which they have a(n): The Principle of Comparative Advantage states that people should specialize in those activities for which their opportunity cost is lower, which is the same as saying the activity for which they have a comparative advantage.
By specializing, the other island produced no coconuts and 2,500 fish. Trade left them with 350 coconuts and 1,300 fewer fish. Analytic Blooms: Apply Difficulty: 3 Hard Learning Objective: 02-04 Explain the role of comparative advantage in international trade and describe why some jobs are more vulnerable to outsourcing than others. Topic: Comparative Advantage and International Trade 136. Large developed countries can produce more of practically everything than can small, less developed countries. Which of the following statements is true?
Outsourcing has come to mean replacing highly paid American workers with cheaper workers overseas. AACSB: Analytic Blooms: Remember Difficulty: 1 Easy Learning Objective: 02-04 Explain the role of comparative advantage in international trade and describe why some jobs are more vulnerable to outsourcing than others. Topic: Comparative Advantage and International Trade 147. The main reason that firms outsource is that: