zilongwang/ReadingBank huggingface dataset:
7. (p. 133) _____ computers are the most powerful computers available. A. Mini B. Super C. Mainframe D. Personal Supercomputers are the most powerful computers available. 8. (p. 133) _____ computers are used in large businesses, hospitals, large clinics, and government organizations. A. Mainframe B. Mini C. Super D. Personal Mainframe computers are used in large businesses, hospitals, large clinics, and government organizations. 9. (p. 134) _____ computers have less power than mainframes. A. Hospital B. Super C. Personal D. Mini Mini computers have less power than mainframes. 10. (p. 135) To unnecessary neck and eyestrain when using a computer, position the monitor at or below eye level, between ________ away. A. 1 and 1.5 feet B. 2 and 2.5 feet C. 3 and 3.5 feet D. 4 and 4.5 feet To avoid unnecessary neck and eyestrain when using a computer, position the monitor at or below eye level, between 2 and 2.5 feet away. 11. (p. 136) A(n) _____ is a standard version of a document that is used over and over again. A. Template B. Form C. Stencil D. Sample A template is a standard version of a document that is used over and over 12. (p. 138) _____ are assigned to limit the number of individuals who have access to particular computer files and to help users create a computerized audit trail. A. Locks B. Log-ons C. Permissions D. Passwords Passwords are assigned to limit the number of individuals who have access to particular computer files and to help users create a computerized audit trail.
25. (p. 149) What is the best measurement of the quality of care given to a patient? A. The medical record B. Patient compliance C. The physician's reputation D. Patient cure rate The best measurement of the quality of care given to a patient is the medical record. 26. (p. 149) Patients ____ the right to inspect their medical documentation. A. Have B. Do not have Patients have the right to inspect their medical documentation. 27. (p. 149) This type of file pertains to current patients: A. Inactive B. Active C. Closed D. Closed storage An active file pertains to current patients. 28. (p. 149) This type of file relates to patients who have not seen the physician for six months: A. Active B. Inactive C. Closed D. Closed storage An inactive file relates to patients who have not seen the physician for six months. 29. (p. 150) Federal law _____ regulate retention time frames for patient's medical records. A. Does not B. Does Federal law does not regulate retention time frames for patient's medical records
13. As far as one can tell, the most sacred animal on Minoan was a. the lion. b. the bull. c. the griffin. d. the snake. e. the duck. Answer: b 14. Which is true of Minoan scripts? a. Linear A was used for lists and Linear B was the written script. b. Linear A and Linear B were written scripts. c. Linear B and Linear A were Egyptian scripts. d. Linear B was used for records and Linear A was the written language. e. Linear A was used on papyrus and Linear B was inscribed on tablets. Answer: d 15. The statue of the so-called Snake Goddess is made of a. terracotta. b. fresco. c. marble. d. faïence. e. Kamares. Answer: d 16. The Minoan column has a. a lotus capital, a straight shaft, and a square base. b. a floral capital, a tapering shaft, and a pillow base. c. a pillow capital, a round base, and a tapering shaft. d. a papyrus capital, a round base, and a tapering shaft. e. a bull capital, a round base, and a tapering shaft. Answer: c 17. Kamares ware can be characterized as a. monochrome. b. decorated with dynamic designs. c. organic. d. figurative. e. decorated with Linear B script. Answer: b 18. Which is NOT a Minoan site? a. Mycenae
Test Your Understanding 1. a) What security mistake did Fazio Mechanical Services make? b) Why do you think it did this? (This requires you to give an opinion.) c) How might segregation of the network have stopped the breach? d) Why do you think the Minneapolis security staff did not heed the FireEye warning? (This requires you to give an opinion.) e) What warnings had Target not responded to adequately? f) What happens in a kill chain if a single action fails anywhere in the chain? g) How can kill chain analysis allow companies to identify security actions it should take? h) Explain why "Security is a process, not a product.” 2. a) What are QoS metrics? (Do not just spell out the acronym.) b) Why are QoS metrics important? Transmission Speed Test Your Understanding 3. a) Distinguish between rated speed and throughput. b) Distinguish between individual and aggregate throughput. c) You are working at an access with 20 other people. Three are doing a download at the same time you are. The rest are looking at their screens or sipping coffee. The access point channel you share has a rated speed of 150 Mbps and a throughput of 100 Mbps. How much speed can you expect for your download? (Check figure: 25 Mbps).
Limit Access with Minimum Permissions Security planners constantly worry about access to resources. People who get access to resources can do damage to those resources. Not surprisingly, companies work very hard to control access to their resources. Access control is limiting who may have access to each resource and limiting his or her permissions when using the resource. Access control is limiting who may have access to each resource and limiting his or her permissions when using the resource. Figure 4-20: Least Permissions in Access Control Access Control If attackers can’t get access to a resource, they cannot exploit it Access control is limiting who may have access to each resource And limiting his or her permissions when using the resource Authentication versus Authorizations (Permissions) Authentication: of identity Authorizations: Permissions a particular authorized user is with a resource Just because a user is authenticated does not mean that he or she will be permitted to do everything Principle of Least Permissions Give each authenticated user only the minimum permissions he or she needs to do his or her job Cannot compromise security by doing unauthorized things Examples of Limited Permissions Create files but not delete files Cannot access files above a specified level of sensitivity Read files but not edit them See files in own folder but not in other folders Connect to the person’s department server but not to the Finance server Do certain things but cannot give others permission to do them One aspect of access control that we saw in the previous chapter is authentication, is requiring users requesting access to prove their identities. However, just because you know who someone is does not mean that he or she should have unfettered access to your resources. (There undoubtedly are several people you know whom you would not let drive your car.) Authorizations or permissions are the actions that an authenticated user is allowed to take on the resource. For example, although everyone is permitted to view the U.S. Declaration of Independence, no one is allowed to add his or her own signature at the bottom. Authorizations or permissions are the actions that an authenticated user is allowed to take on the resource. An important principle in assigning permissions is to give each person least permissions—the minimum permissions that the user needs to accomplish his or her job. In the case of access to team documents, for example, most team members may be given
When a firm operating with two inputs, labor and capital, succeeds in increasing the total product by increasing the units of labor employed, the marginal product of is positive units of capital employed must also be increasing the firm is experiencing economies of marginal product of capital is zero. If the marginal product of the fourth worker is more than the marginal product of the worker, the firm is experiencing increasing marginal returns diminishing marginal returns supernormal profits a technological improvement A technological improvement shifts the marginal and product curve outward can reverse the effects of falling marginal productivity changes the production function all of the above Average fixed costs behave like marginal costs behave like variable costs behave like average variable costs decline as output increases Average variable costs rise whenever marginal exceed fixed costs marginal costs exceed average variable costs marginal costs exceed average total costs marginal costs are rising. The marginal cost curve intersects the average variable cost curve and the average total cost curve at their minimum points at maximum points at the point where average total cost and average variable cost are identical at the point where the average fixed cost is at its minimum When a firm experiences economies of scale the LRATC slopes downward the LRATC is vertical the LRATC slopes upward the LRATC is horizontal All of the following shift cost curves except for technology
SUGGESTED Books Alford, William P. To Steal a Book is an Elegant Offense: Intellectual Property Law in Chinese Civilization. , : Press, 1995. Askari, Hossein, John Forret, Hildy Teegan, and Jiawen Yang. Ecnomic Sanctions: Examining Their Philosophy and Efficacy. : Praeger Publishers, 2004. Borchardt, The ABC of Community Law. : Office for Official Publications of the European Communities, 1994. Chukwumerige, Okezie. Choice of Law in International Commercial Arbitration. : Quorum Books, 1994. Fishbein, Bette K. Germany, Garbage, and the Green Dot: Challenging the Throwaway Society. : Inform, 1994. Hirschhorn, Eric. The Export Control Embargo Handbook, 2nd ed. : Oceana, 2005. Jacoby, Neil H., Peter Nehmenkis, and Richard Eells. Bribery and Extortion in World Business. : McMillan, 1977. Kelso, R. Randall, and Charles D. Kelso. Studying Law: An Introduction. : West Publishing, 1984. Ohmae, Kenichi. The Borderless World. : Harper Perennial, 1991. Samuels, Barbara C. Managing Risk in Developing Countries: National Demands and Multinational Response. : 1990. Slomanson, William R. Fundamental Perspectives on International Law. : West Publishing, 1990. Sohn, Louis B. ed. Basic Documents of the United Nations. : The Foundations Press, Inc., 1968. Articles Albright, Katherine, and Grace Won. “Foreign Corrupt Practices Act.” American Criminal Law Review (Spring 1993), pp. 787. Bagley, Jennifer M., Stephanie S. Glickman, and Elizabeth B. Wyatt. “Intellectual Property.” American Criminal Law Review, 32, no. 2 (Winter 1995), pp. 457-479. Bradley, David G. “Managing Against Expropriation.” Harvard Business Review (July/August 1977). Cleveland, Harlon. “Rethinking International Governance.” The Futurist (May 1991).
Page: 113 68. Which vegetarian diet makes it hardest to get all the nutrients you need? A) lactovegetarian B) semivegetarian C) ovovegetarian D) Answer: D Pages: 113-114 69. If you are a lactovegetarian, you A) include dairy products in your diet, but no other animal products. B) exclude dairy products in your diet, but you consume eggs. C) exclude all animal products. D) include some animal products, but you consume mostly vegetables. Answer: A Page: 113 70. The term semivegetarian describes a person who A) has cut most but not all meats from his or her diet. B) tries to maintain a vegetarian diet, but regularly fails. C) follows a strict vegetarian diet in some circumstances, but not in others. D) strongly supports the ideas of vegetarianism, but has not yet changed his or her diet. Answer: A Page: 114 71. A vegetarian diet that includes fish, products, and eggs, along with plant foods, is known as a(n) _______________________ diet. A) ovolactovegetarian B) lactovegetarian C) pesco-vegetarian D) vegan vegetarian Answer: C Page: 114 72. The DASH program was originally developed to study the effects of an eating pattern A) on the development of chronic illnesses. B) on the prevention and treatment of hypertension. C) in weight management over the lifespan. D) in children between the ages of 8 and 13. Answer: B Page: 111 73. Compared to adults, the diets of elderly adults should include A) more nutrients and more calories than adults. B) fewer calories, but similar amounts of nutrients overall. C) the same amounts of nutrients and calories as young adults. D) more calories to compensate for loss of metabolic efficiency. Answer: B Page: 114
Relative to a monopoly, the price that a perfectly competitive firm would charge, given identical costs, is higher than the monopoly the same as the monopoly lower than the monopoly not comparable to the monopoly True-False Questions 1. T F A perfectly competitive firm is a price maker. 2. T F The demand curve of a competitive firm is always downward-sloping. 3. T F New firms can enter a perfectly competitive market with ease. 4. T F A perfectly competitive firm changes a price that is higher than its marginal cost. 5. T F A perfectly competitive firm earns marginal revenues that exceed the price. 6. T F At the level of output where MR = MC, both the perfectly competitive firm as well as the monopolist maximize profits. 7. T F A perfectly competitive firm will shut down its production when it cannot recover all of its variable costs. 8. T F The supply curve of a perfectly competitive firm lies above the average variable cost. 9. T F In the long-run, a perfectly competitive firm cannot earn positive economic profits. 10. T F In the long run, a perfectly competitive firm may incur economic losses. 11. T F In the long run, a perfectly competitive firm behaves like a price maker. 12. T F In the long run, a perfectly competitive firm produces at the point where P = MR = minimum ATC. 13. T F A perfectly competitive market is characterized by homogeneous products. 14. T F Monopolists maximize profits by changing prices that equal marginal revenue. 15. T F In maximizing profits monopolists do not follow the MC = MR rule. 16. T F There are significant barriers to entry in monopoly markets. 17. T F In the long run, monopolies earn zero economic profits. 18. T F Monopolists always charge prices that exceed their average total cost. 19. T F Monopolies may result from economies of scale.
632 INFORMATION TECHNOLOGY (IT) CONSULTANT AND PROFESSIONAL SERVICES - EXTERNAL/OTHERS NOT RELATED TO PROJECT DELIVERY: Covers payments for IT consultant and professional services by others outside of State service when performed under service contract or agreement that is not related to project delivery. This includes computer services, IT consulting services, etc. Also covers: Payments to California Universities and Colleges for IT (contract is a standard agreement) Does not cover: Payments for consultant and professional services, specifically covered by Object Codes (i.e. 032, 232, 332, 432, 832, etc.) Payments for contract student assistants (Object Code 532) Telecommunications consultant and professional services (Object Code 732) Services in connection with approved federally-aided projects require prior approval of the Project by the Federal Highway Administration (FHWA). A copy of the proposed agreement must be submitted for approval prior to beginning work (reference: Federal-Aid Policy Guide, Subchapter B, Part 172). Project will determine eligibility. See for further clarification of usage. 2612 12 TABLE 1-2. Object Code Descriptions OBJECT CODE TITLE/DESCRIPTION OBJECT CLASS OBJECT CAT.
Required: In each case, give an example of circumstances underlying the that might represent an unfavorable development. ANS: a. A high current ratio can mean overstocked inventory or doubtful receivables. Either of these accounts being high could cause the current ratio to be misleading. b. The firm may have substantially tightened its credit policy. This might have resulted in a major loss of customers. c. Rapidly rising turnover might mean that production is unable to generate goods as quickly as possible and that the firm is running a risk of stockouts. 3. Required: How will switching from fifo to lifo for inventory valuation affect financial analysis of liquidity and profitability? Cite two ratios that will be affected and indicate how they will change. (Assume an inflationary condition.) ANS: Lifo inventory valuation results in higher cost of sales and lower inventory valuation. It will cause lower profitability and tax outflow. Merchandise inventory turnover will appear much higher, since the cost of sales will be higher and average inventory much lower. Days' sales in inventory will be lower, since the cost of sales will be higher, giving higher daily cost of sales to divide into lower inventory. The liquidity position will be reduced in terms of working capital and the current ratio. 4. DeCort Company's working capital accounts at December 31, 2009, are given below: Current Assets: Cash $100,000 Marketable Securities 50,000 Accounts Receivable $250,000 Less Allowance for Doubtful Accounts (20,000) 230,000 Inventory, Lifo 300,000 Prepaid 8,000 Total Current Assets $688,000 Current Liabilities: Accounts Payable $200,000 Notes Payable 50,000 Payable 10,000 Accrued Liabilities 30,000 Total Current Liabilities $290,000 During 2010, DeCort Company completed the following transactions: a. Purchased fixed assets for cash, $20,000.
Current Liabilities _____ 10. Accounts Receivable + Inventory Turnover Turnover in Days in Days _____ 11. Cost of Goods Sold Average Inventory _____ 12. Ending Inventory Cost of Goods Sold/365 ANS: 1. l 2. b 3. h 4. j 5. a 6. c 7. f 8. k 9. i 10. g 11. e 12. d 12. The following are the inventory records of the Garret Company: Units Cost Total January 1 40 $12 $480 Purchases: February 10 20 13 260 July 15 40 14 560 November 1 50 15 750 December 10 30 16 480 Available 180 $2,530 Ending inventory consists of 30 units from the July purchase. Note: The company uses a periodic inventory system. Required: Calculate ending inventory and cost of sales, using: (a) FIFO, (b) LIFO, (c) average, and (d) specific identification. ANS: a. FIFO Ending Inventory Cost of Sales 30  $16 = $480 $2,530 - $480 = $2,050 b. LIFO Ending Inventory Cost of 30  $12 = $360 $2,530 - $360 = $2,170
c. Average Ending Inventory Cost of Sales 180 ÷ $2,530 = $14.06 30  $14.06 = $421.80 $2,530 - $421.80 = $2,108.20 d. Specific identification Ending Inventory Cost of Sales 30  $14 = $420 $2,530 - $420 = $2,110
inventory of 4,000 baskets. The company keeps no work-in-process inventory. What amount of sales revenue will be reported on the 20x4 budgeted income statement? a. $174,000 b. $180,000 c. $186,000 d. $204,000 Answer: b 30,000 x $6 = $180,000 89. DeArmond Corporation has budgeted sales of 18,000 units, target ending finished goods inventory of 3,000 units, and beginning finished goods inventory of 900 units. How many units should be produced next year? a. 21,900 units b. 20,100 c. 15,900 units d. 18,000 units Answer: b 18,000 + 3,000 - 900 = 20,100 units 90. For next year, Galliart, Inc., has budgeted of 60,000 units, target ending finished goods inventory of 3,000 units, and beginning finished goods inventory of 1,800 units. All other inventories are zero. How many units should be produced next year? a. 58,800 units b. 60,000 units c. 61,200 units d. 64,800 Answer: c 60,000 + 3,000 - 1,800 = 61,200 units 91. Wilgers Company has budgeted sales volume of 30,000 units and budgeted production of 27,000 units. 5,000 units are in beginning finished goods inventory. How many units are targeted for ending finished goods inventory? a. 5,000 units b. 8,000 units c. 3,000 units d. 2,000 units Answer: d 5,000 + 27,000 - 30,000 = 2,000 THE FOLLOWING INFORMATION APPLIES TO QUESTIONS 92 THROUGH 95. Marguerite, Inc., expects to manufacture and sell 20,000 pool cues for $12.00 each. Direct materials costs are $2.00, direct manufacturing labor is $4.00, and manufacturing overhead is $0.80 per pool cue. The following inventory levels apply to 20x4: Beginning inventory Ending inventory Direct materials 24,000 units 24,000 units
a. Attentive b. Distracted c. Interacting d. Not very intelligent 26. In social dominance theory, dominators should a. Balance their own needs with the needs of others b. Use physical coercion in to win c. Find ways to win, at any cost d. Dominate the so that members know who is in charge 27. In social dominance theory, social relationships are viewed as a. Unnecessary b. Resources c. Competitive d. Interesting 28. “Depending on who your opponent is, assert when you can prevail, when you cannot” is a rule of a. Dynamic Interdependence b. Reactance c. Informational Factor d. Social Dominance 29. In social exchange theory, power is based primarily on a. Friendliness and warmth b. Dynamism c. Expertise d. Control of valuable resources 30. When group members believe that a person has useful knowledge not available elsewhere, that person has which base of power? a. Reward b. Legitimate c. Informational d. Expert 31. When members believe that a person has power because of her position, that person has which base of power? a. Reward b. Legitimate c. Informational d. Available 32. In the conflict model of social influence, the power majority a. Has the most rational and persuasive arguments b. Exerts control through coercive methods c. Has the most accurate knowledge about the subject at hand d. Has the most control over distribution of important resources 33. In the conflict model of social influence, minority members tend to _________ the majority a. Rebel against
Case (continued) A statement detailing revenues by program appears directly below. The segmented income statement follows on the next page. Total Membership Services Journal Books and Reports Continuing Education Revenues: Membership dues $600,000 $450,000 $150,000 Nonmember journal subscriptions 20,000 20,000 Advertising 50,000 50,000 Books and reports 70,000 $70,000 Continuing education courses 230,000 $230,000 Total revenues $970,000 $450,000 $220,000 $70,000 $230,000 Case (continued) Membership Services Journal Books and Reports Continuing Education Total revenues $970,000 $450,000 $220,000 $70,000 $230,000 Expenses traceable to segments: Salaries 320,000 170,000 60,000 40,000 50,000 Occupancy costs 90,000 50,000 10,000 10,000 20,000 Distributions to local chapters 210,000 210,000 Printing 82,000 44,000 25,000 13,000 Mailing 19,000 11,000 8,000 Continuing education instructors’ fees 60,000 60,000 Total traceable expenses 781,000 430,000 125,000 83,000 143,000 Program segment margin 189,000 $ 20,000 $ 95,000 $(13,000) $ 87,000
Problem 6-17A (continued) 3 b. The absorption costing income statements appears below: Year 1 Year 2 Year 3 Sales $3,360,000 $2,800,000 $3,640,000 Cost of goods sold 3,060,000 2,500,000 3,390,000 Gross margin 300,000 300,000 250,000 Selling and administrative expenses 300,000 280,000 310,000 Net operating income (loss) $ 0 $ 20,000 $ (60,000) Cost of goods sold computations: Year 1: 60,000 units × $51 per unit = $3,060,000 Year 2: 50,000 × $50 per unit = $2,500,000 Year 3: (25,000 × $50 per unit) + (40,000 × $53.50 per unit) = $3,390,000 4. Year 1 Year 2 Year 3 Units sold 60,000 50,000 65,000 Break-even point in units 60,000 60,000 60,000 Units above (below) break-even point 0 (10,000) 5,000 Variable costing net operating income (loss) $0 $(80,000) $ 40,000 Absorption costing net operating income (loss) $0 $ 20,000 $(60,000) The absorption costing net operating incomes in 2 and 3 are counterintuitive. In year 2, the number of units sold is below the break-even point; however, absorption costing reports a net operating income greater than zero. In year 3, the number of units sold is above the break-even point; however, absorption costing reports a net operating income less than zero.
Problem 6-18A (30 minutes) 1. The unit product cost under the variable costing is computed as follows: Direct materials $ 8 Direct labor 10 Variable manufacturing overhead 2 Variable costing unit product cost $20 With this figure, the variable costing income statements can be prepared: Year 1 Year 2 Sales $1,000,000 $1,500,000 Variable expenses: Variable cost of goods sold @ $20 per unit 400,000 600,000 Variable selling and administrative @ $3 per unit 60,000 90,000 Total variable expenses 460,000 690,000 Contribution margin 540,000 810,000 Fixed expenses: manufacturing overhead 350,000 350,000 Fixed selling and administrative 250,000 250,000 Total fixed expenses 600,000 600,000 Net operating income (loss) $ (60,000) $ 210,000 2. The reconciliation of absorption and variable costing follows: Year 1 Year 2 Variable costing net operating income (loss) $(60,000) $210,000 Add (deduct) fixed manufacturing overhead deferred in (released from) inventory under absorption costing (5,000 units × $14 per unit in Year 1; 5,000 units × $14 per unit in Year 2) 70,000 (70,000) Absorption costing net operating income $ 10,000 $140,000
elastic. So we would expect the demand by visitors in private, noncommercial vehicles to have the largest price elasticity of demand. By similar reasoning, when the price is low and the quantity demanded is high, the demand is more likely to be inelastic. So we would expect the demand by visitors on foot, bikes, and skis to have the smallest price elasticity of demand. 6.3 The Relationship between Price Elasticity of Demand and Total Revenue Learning Objective: Understand the relationship between the price elasticity of demand and total revenue. Review Questions 3.1 If demand is inelastic, an increase in price will increase revenue because the price will increase proportionally more than the quantity sold will decrease. 3.2 If revenue increases when price falls, then demand must be elastic. Problems and Applications 3.3 The larger the of a good in an average consumer’s budget, the more elastic demand is. So the price elasticity of demand would likely be greater if consumers spend 8 percent of their incomes on gasoline rather than 4 percent. 3.4 Elasticity = (percentage change in quantity/percentage change in price). The article states that consumption decreases by 3 to 5 percent in response to a 10 percent increase in price, so the range of elasticity is: (−3/10) = −0.3 to (−5/10) = −0.5. Demand for cigarettes is inelastic because the elasticity values computed are both less than 1 in absolute value. Because demand is inelastic, if price increases, revenue will also increase. 3.5 The Port Authority is assuming that an increase in tolls will increase the total amount collected, so they must be assuming that demand is inelastic. The Port Authority might have reasoned that the demand for using bridges and tunnels to cross the Hudson River was inelastic because commuting is more of a necessity than a luxury, and for many commuters, there may not be any good substitutes. 3.6 a. We can calculate the price elasticity along D1 between points A and C as follows: Percentage change in quantity demanded = Percentage change in price = So, the price elasticity of demand = Similarly, the price elasticity of demand along D2 between points A and B can be calculated as follows: Percentage change in quantity demanded = Percentage change in price = So, the elasticity of demand =
factors persona in a person's environment and even on of malfunctioning of his physiological processes (h) Inadequate and improper development of language skills, of concentration and adequate attention. (i) Use of drugs and intoxicating substances like of alcohol (j) Imitation and the company of defective learning models present to one's cultural, social mid educational environment (k) Social und cultural deprivation. Identification of Learning Disabled Children Identification Of the learning disabled children may be done mainly in two ways'— the employment of non-testing and testing devices. Non-testing devices. In non testing devices we may include techniques like observation, rating scale, check list, interview etc. By employing these devices, we try to identify the learning disabled in relation to (heir general personality and characteristics We may find a list of these characteristics common with the learning disabled and then weigh the observed child in relation to these for the identification of the degree of disability. We may also seek the opinion of the teachers and other poisons regarding the learning abilities, mental level, scholastic potential etc. through such devices for the diagnosis and identification of learning disabilities of the children Testing devices. Testing devices include different types of tests that can be used as diagnostic measures for the identification and assessment of children with different kinds of learning disabilities. Generally, the following types of lesu fall into this category: (a) Standardized diagnostic tests. These are many such tests available in our country as well as abroad. the help of norms given in these tests h
CHAPTER 8: FLEXIBLE BUDGETS, VARIANCES, AND MANAGEMENT CONTROL: II TRUE/FALSE 1. Overhead costs are a major part of costs for most companies – more than 50% of all costs for some companies. Answer: True 2. At the start of the budget period, management will have made most decisions regarding the level of variable costs to be incurred. Answer: False At the start of the budget period, management will have made most decisions regarding the level of fixed costs to be incurred. 3. One way to manage both variable and fixed overhead costs is to eliminate activities. Answer: True 4. In a standard costing system, the variable-overhead rate per unit is generally expressed as a standard cost per output unit. Answer: True 5. For calculating the cost of products and services, a standard costing system does not have to keep track of actual costs. Answer: True 6. The budget period for variable-overhead costs is typically less than 3 months. Answer: False The budget period for variable-overhead costs is typically 12 months. 7. A favorable variable overhead spending variance can be the result of paying lower prices than budgeted for variable overhead items such as energy. Answer: True 8. The variable overhead efficiency variance is computed in a different way than the efficiency variance for direct-cost items. Answer: The variable overhead efficiency variance is computed the same way as the efficiency variance for direct-cost items.
discontinuity (seismic) (172): Boundaries where seismic waves experience an abrupt change in velocity or direction. divergent plate boundary (185): Develop when two plates move away from each other. May manifest themselves as mid-oceanic ridges complete with tensional (pull-apart) geologic structures. The rending of the crust is accompanied by earthquakes and enormous outpourings of volcanic materials that are piled high to produce the ridges itself. dome (211): An upfold in rocks having the general configuration of an inverted bowl. Strata in a dome dip outward and downward in all directions away from a central area. exotic terrane (204): Small patches of the crust that may become incorporated into the crumpled margin of larger continent. fault (205): A fracture in the Earth’s crust along which rocks on one side have been displaced relative to rocks on the other side. fold (206): Bends in rock strata that are evidence of crustal movement. Metamorphic action due to the compressional force. Tend to occur like a series of petrified wave crests and troughs. footwall (205): In normal faults, the mass of rock that lies below the shear plane. It appears to move upward relative to the opposite side or hanging wall. In reverse faults, the footwall appears to move downward relative to the hanging wall. Glossopteris flora (181): An assemblage of fossil plants found in rocks of Late Paleozoic and early Triassic age in South Africa, India, Australia, and South America. The flora takes its name from the seed fern Glossopteris. Gondwana (178): The great Permo-Carboniferous continent of the southern hemisphere, which comprised the assembled present continents of South Africa, India, Australia, Africa-Arabia, and Antarctica. gravity anomaly (201): The difference between the observed of gravity at any point on the Earth and the calculated theoretic value. Gutenberg discontinuity (185): The boundary separating the mantle of the Earth from the core below. The Gutenberg discontinuity lies about 2900 kilometers below the surface. (189): Submerged mountains with flat, rather than conical, summits.
Actual  Actual Prices: S 3.8  45,750  $10.60 = $1,842,810 US 5.7  45,750  $7.80 = 2,034,045 $3,876,855 $34,770 F rate Actual  Standard Prices: S 3.8  45,750  $10.50 = $1,825,425 US 5.7  45,750  $ 8.00 = 2,086,200 $3,911,625 $108,656 U mix Standard Qty.  Actual Mix  Standard Prices: S 30%  434,625*  $10.50 = $1,369,069 US 70%  434,625  $ 8.00 = 2,433,900 $3,802,969 $200,156 F yield Standard  Standard: S 30%  457,500**  $10.50 = $1,441,125 US 70%  457,500  $ 8.00 = 2,562,000 $4,003,125 *(45,750  9.5 = 434,625) **(45,750  10 = 457,500) DIF: Difficult OBJ: 7-6 9. Peoria Corporation produces a product using the following standard proportions and costs of material: Pounds Cost Per Pound Amount Material A 50 $5.00 $250.00 Material B 40 6.00 240.00 Material C 60 3.00 180.00 150 4.4667 $670.00 Standard shrinkage (33 1/3%) 50 Net weight and cost 100 6.70 $670.00 A recent production run yielding 100 output pounds required an of: Amount Cost Per Pound Material A 40 $5.15 Material B 50 6.00 Material C 65 2.80 Required: Material price, mix, and yield variances. ANS: MATERIAL PRICE VARIANCE MATERIAL A ($5.15 - 5.00)  40 = $ 6 U
Preschooler Caregiver Interview Activity F Name Chapter 7 Date Period Interview the caregiver of a preschooler. Ask the following questions about the physical, cognitive, and socio-emotional development of the preschooler. Name of caregiver: Name of preschooler: Preschooler’s age: Describe your typical day of caregiving. How does caring for a preschooler differ from caring for a toddler? Is he or she learning to read and write? What is he or she able to write and draw? How does he or she play? What are some of his or her favorite games? What are some things he or she fears? How do you address these fears? Does he or she have temper tantrums? Are they less frequent than in the toddler years? On average, how many hours does he or she sleep per night? Does he or she have any special needs? If so, what are they and how do you meet these needs? After the interview, reflect on how the preschooler’s family and society has had a direct influence on him or her. Summarize your thoughts in the space provided and list at least one example each of family and societal influences on the preschooler.
Problem 7-16A (30 minutes) 1. September cash $ 7,400 September collections on account: July $20,000 × 18% 3,600 August sales: $30,000 × 70% 21,000 September sales: $40,000 × 10% 4,000 Total cash collections $36,000 2. Payments to suppliers: August purchases (accounts payable) $16,000 September purchases: $25,000 × 20% 5,000 Total cash payments $21,000 3. Calgon Products Cash Budget For the Month of September Cash balance, September 1 $ 9,000 Add cash receipts: Collections from customers 36,000 Total cash available before current financing 45,000 Less disbursements: Payments to suppliers for inventory $21,000 Selling and administrative expenses 9,000 * Equipment purchases 18,000 Dividends paid 3,000 Total disbursements 51,000 Excess (deficiency) of cash available over disbursements (6,000) Financing: Borrowings 11,000 Repayments 0 Interest 0 Total financing 11,000 Cash balance, September 30 $ 5,000 *$13,000 – $4,000 = $9,000.
Mahone, Charlie E. Jr. “Penetrating Export Markets: The Role of Firm Size.” Journal of Global Marketing 7, no. 3 (1994), pp. 133-148. Murphy, Paul R., James M. Daley, and Douglas R. Dalenberg. “Doing Business In Global Markets: Perspectives of International Freight Forwarders.” Journal of Global Marketing 6, no. 4 (1993), pp. 53-68. Namiki, Nobuaki. “A Taxonomic Analysis of Export Marketing Strategy: An Exploratory Study of Exporters of Electronics Products.” Journal of Global Marketing 8, no. 1 (1994), pp. 27-50. Raven, Peter V. Jim M. McCullough, and Patriya S. Tansuhaj. “Environmental Influences and Decision-Making Uncertainty in Export Channels: Effects on Satisfaction and Performance.” Journal of International Marketing 2, no. 3 (1994), pp. 37-60. Rynning, Marjo-Riitta, and Otto Andersen. “Structural and Behavioral Predictors of Export Adoption: A Norwegian Study.” Journal of International Marketing 2, no. 1 (1994), pp. 73-90. Seringhaus, F. H. Rolf. “A Comparison of Export Marketing Behavior of Canadian and Austrian High-Tech Firms.” Journal of International Marketing 1, no. 4 (1993), pp. Simon, Hermann. “Lessons from 's Midsize Giants.” Harvard Business Review 1992), pp. 115-123. Singer, Thomas Owen and Michael R. Czinkota. “Factors Associated with Effective Use of Export Assistance.” Journal of International Marketing 2, no. 1 (1994), pp. 53-72. Swamidass, Paul M. “Import Sourcing Dynamics: An Integrative Perspective,” Journal of International Business Studies 24, no. 4 (Fourth Quarter 1993), pp. 671-692. Venkatesan, . “Strategic Sourcing: To Make or Not To Make.” Harvard Business Review 70, no. 6 (November-December 1992), pp. 98-107.
Less: taxes @ 40% (2,000) Net Income $ 3,000 7. The following are forecasts of sales and purchases for China Grove Company: Sales Purchases April $80,000 $30,000 May 90,000 40,000 June 85,000 30,000 All sales are on credit. Records show that 70 percent of the customers pay the month of the sale, 20 percent pay the month after the sale, and the remaining 10 percent pay the second month after the sale. Purchases are all paid the following month at a 2 percent discount. Cash disbursements for operating expenses in June were $5,000. Required: Prepare a schedule of cash receipts and disbursements for June. ANS: Schedules of Cash Receipts and Disbursements for June Cash Receipts: From current month sale (June) (.7  85,000) $59,500 From 1 month prior sale (May) (.2  90,000) 18,000 From 2 month prior sale (April) (.1  80,000) 8,000 Total cash receipts $85,500 Cash Disbursements: May purchases @ 98% (less discount) (.98  40,000) $39,200 Operating expenses 5,000 Total cash disbursements $44,200 Net increase in cash for June $41,300 8. Allen Builders in the building construction business. In Year 2, it is expected that 40 percent of a month's sales will be collected in cash, with the balance being collected the following month. Of the purchases, 50 percent are paid the following month, 30 percent are paid in two months, and the remaining 20 percent are paid during the month of purchase. The sales force receives $2,000 a month base pay plus a 2 percent commission. Labor expenses are expected to be $4,000 a month. Other operating expenses are expected to run about $2,000 a month, including $500 for depreciation. The ending cash balance for Year 1 was $4,500. Purchases Year 1-Actual November $80,000 $70,000 December 90,000 80,000 Year 2-Budgeted January 70,000 70,000 February 90,000 60,000 30,000 50,000 Required:
a. Prepare a cash budget and determine the projected ending cash balances for the first three months of Year 2. b. Determine the months that the company would either borrow or invest cash. ANS: a. Year 1 Year 2 Nov. Dec. Jan. Feb. Mar. Sales $80,000 $90,000 $70,000 $90,000 $30,000 Purchases 70,000 80,000 70,000 60,000 50,000 Cash Receipts: Jan. Feb. Mar. Beginning cash balance $ 4,500 $ 2,600 $ 300 From current month sales $28,000 $36,000 $12,000 From prior month sales 54,000 42,000 54,000 cash receipts $82,000 $78,000 $66,000 Total cash available $86,500 $80,600 $66,300 Cash Disbursements: From Purchases: Current @ 20% $14,000 $12,000 $10,000 From 1 mo. purchases @ 50% 40,000 35,000 30,000 From 2 mo. prior purchases @ 30% 21,000 24,000 21,000 Total payments on purchases $75,000 $71,000 $61,000 expense 4,000 4,000 4,000 salaries 2,000 2,000 2,000 Commissions @ 2% of sales 1,400 1,800 600 Other expenses exclude depr. ($500) 1,500 1,500 1,500 Total cash disbursements $83,900 $80,300 $69,100 Ending cash balance $ 2,600 $ 300 $(2,800) b. Borrow-March; invest-January and February DIF: Difficult
2. Explain why even if U.S. wages are higher than foreign wages, if U.S. labor is more productive than foreign labor, U.S. labor can still be competitive. 3. Identify the advantages and disadvantages of a minimum wage law that raises the wage rate above the market equilibrium level. 4. Describe the methods used by unions to increases the wages of their members and the factors that give a union strength. 5. Explain why domestic workers are often fearful of imported goods and liberal immigration policies. Key Concept Quiz derived demand marginal product of labor demand curve for labor transplants mediation arbitration shock effect strikes minimum wage collective bargaining shop value of marginal product of labor a. additional output from hiring each worker _____ b. forces all employees to join the recognized union within a specified time _____ c. a price floor _____ d. demand for labor _____ e. the value of the marginal product of labor _____ f. increase in revenue to a firm from hiring an additional worker _____ g. when unions act on behalf of workers to negotiate with employers _____ h. cannot be called unless a majority supports it _____ i. can mitigate the adverse effects of a minimum wage _____ j. when labor and management receive outside help _____ k. a process that labor and management may agree to when mediation fails _____ l. are non-union Multiple Choice Questions When wages of apple pickers rise, fewer apple pickers are demanded because consumers purchase fewer apples as apples become more expensive producers switch to substitute resources all of the above consumers prefer lower wages Pizza Hut will stop hiring delivery workers when the value of the marginal product of such labor equals the wage rate
20% CM increase: $40,000 * 1.20 = $48,000 Net profit: $(48,000 - 30,000) = $18,000 Increase in profit $8,000 $8,000/$10,000 = 80% Eclectic Corporation Eclectic Corporation manufactures and sells two products: A and B. The operating results of the company are as follows: Product A Product B Sales in units 2,000 3,000 Sales price per unit $10 $5 Variable per unit 7 3 In addition, the company incurred total fixed costs in the amount of $9,000. 38. Refer to Eclectic Corporation.. How many total units would the company have needed to sell to break even? a. 3,750 b. 750 c. 3,600 d. 1,800 ANS: A Let B = 1.5A 3A + 2(1.5A) - $9,000 = $0 6A - $9,000 = $0 A = 1,500 B = 2,250 Total units = 3,750 39. Refer to Eclectic Corporation. If the company would have sold a total of 6,000 units, consistent with CVP assumptions how many of those units would you expect to be Product B? a. 3,000 b. 4,000 c. 3,600 d. 3,500 ANS: C A + 1.5A = 6,000 units 2.5A = 6,000 units A = 2,400 units B = 3,600 units
Multiple Choice Questions 1. Independent auditors are required to document their assessment of reasonable assurance through the use of: The materiality concept. The audit risk model. Both (a) and (b). Neither (a) or (b). 2. External auditors are not and should not be expected to provide absolute assurance regarding reliability of financial statements primarily because of: The nature and limitation of evidence-gathering procedures. Management assertions and financial representations that are not certain by nature. The possibility of false documentation. All of the above. 3. According to academic studies conducted for audit quality, which of the following statement(s) is (are) correct: Big accounting firms are perceived as more likely to disclose a discovered error. There is a negative relationship between auditor tenure and the discovery of material misstatements for the early years. Financial reporting quality is negatively affected by having a large audit firm audit financial statements. All of the 4. SOX adds stipulations surrounding employee affiliation between clients and auditors. For example, the staff is prohibited from accepting a key financial position with the audit clients for at least: Five years. Three years. Two One year. 5. An advantage of the pass/fail audit approach is that: It does not reflect the quality of the financial statements. It does not provide relevant or useful information to investors regarding the quality of the company as an investment or credit risk. It is standard pass/fail language that provides uniformity and improves comparability. It focuses on fair presentation rather than true and accurate presentation of financial position and results of operations. 6. A company’s ability to initiate, measure, authorize, and report financial information in accordance with GAAP is affected by: Significant deficiencies in internal control. Inconsequential deficiencies in internal control. Material weaknesses in internal control. None of the above. 7. PCAOB AS No. 3 requires auditors to prepare and maintain audit documentation in sufficient detail for at least: years. Five Four Seven years. 8. Audit firms are permitted to perform which of the following tax services for their audit clients? Routine tax return preparation and tax compliance.
C) the hormone progesterone. D) the hormone estrogen. Answer: D Page: 224 13. Ellen is thirty-five, inactive, overweight, a smoker, and takes oral contraceptives. The best single thing she can do for her heart health is to A) stop oral contraceptives. B) start an exercise program. C) stop smoking. D) lose weight. Answer: C Page: 224 14. The most beneficial way to blood cholesterol is to A) take cholesterol-reducing drugs and begin an exercise program. B) start an exercise program and eat a heart-healthy diet. C) eat a diet rich in phytochemicals and meditate. D) eat a low-fat diet and take a vitamin supplement. Answer: B Page: 226 15. Tom had his cholesterol measured. Which of the following would be classified as a desirable blood cholesterol level? A) less than 200mg/dl B) 210-220 mg/dl C) 230-250mg/dl D) greater than 240 mg/dl Answer: A Pages: 228-229 16. Coronary heart disease is A) a weakening of the heart valves. B) a buildup of fluids in the pericardial sac. C) damage to the blood vessels that supply the heart. D) a generalized reduction in vessel diameter that causes the heart to work harder. Answer: C Page: 227 17. of the following is NOT a major form of cardiovascular disease? A) obesity B) stroke C) rheumatic heart disease D) congenital heart disease Answer: A 234-236
Page: 236 47. The bacteria responsible for rheumatic fever tend to attack the A) muscular of the heart. B) coronary arteries. C) pulmonary artery. D) valves. Answer: D Page: 236 48. During a physical examination, your doctor tells you that you may have had a bout of rheumatic fever during childhood. Your doctor probably detected A) an arrhythmia. B) a heart murmur. C) evidence of heart wall damage. D) a weakness in the left ventricle. Answer: B Page: 236 49. A condition in blood flow to the legs, feet, and hands is restricted by damaged blood vessels is called A) peripheral artery disease. B) transient ischemia C) rheumatic fever. D) stenosis. Answer: A Page: 237 50. Congestive heart failure occurs when A) excess blood pressure triggers an arrhythmia. B) the ventricles lose their ability to maintain a pumping action. C) the heart lacks sufficient power to maintain adequate circulation. D) the resistance from damaged vessels overstresses the heart, resulting in a heart attack. Answer: C Page: 236 51. The term that describes any of several disorders of the normal beating pattern is A) fibrillation. B) arrhythmia. C) tachycardia. D) bradycardia. Answer: B Page: 230 52. Your father is suffering from the early stages of congestive heart failure. Which of the following is recommended? A) restrict all activity B) implant a pacemaker C) dietary modifications
Quick Quiz What is the organization’s responsibility regarding information security? ANSWER: s. An organization must take measures—due care—to make sure that every employee knows what is acceptable ethical and legal behavior, what is not, and the consequences for such illegal or unethical actions. Should an organization refuse to take such measures, it increases its liability and can be held financially liable for any unethical or illegal behavior of an employee. Key Terms (CERT/CC) Civil law Computer Professional for Social Responsibility (CPSR) Computer Security Division (CSD) Criminal law Cultural Deterrence Due Care Due Diligence Ethics Information Systems Security Association (ISSA) Information Warfare (IW) Internet Engineering Task (IETF) Internet Society (ISOC) Jurisdiction Laws Liability Long-arm jurisdiction National InfraGard Program (NIPC) National Security Agency (NSA) Privacy Private law Public law Restitution Tort law Secret Service