Com/539 final exam | Marketing homework help

Uncategorized

Relative to Americans, Canadians are more likely to be:

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Happy and casual

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Educated and informal

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Bilingual and formal

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Sociable and casual

Which of the following is an acceptable method of negotiating the price objection?

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Apologize for the product’s high price

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Clarify the link between price and quality

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Make price the focal point of your presentation

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Focus on an individual product feature

John Bieland, the equipment buyer for Great Lakes Manufacturing, purchased two large riveting machines from Hoseke Corporation’s sales representative, Lindell Ross. Because of a clerical error, the machines shipped a day later than scheduled, which put the delivery truck in the middle of a blizzard that shut down roads for several days. By the time the machines were delivered by Hoseke Corporation, they were a full week late. John Bieland sends an email to Lindell, cc’ing the CEOs of Great Lakes Manufacturing and Hoseke Corporation, expressing his dissatisfaction. What should Lindell offer to John to rectify the situation?

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Lindell should discount any further purchases by half.

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Lindell should refund John’s money.

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Lindell should send John 2 new machines

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Lindell should consult with John to find out what would help him regain trust in Lindell and Hoseke Corporation.

Managing an organization’s personal selling function to include planning, implementing, and controlling the sales management process is called:

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Sales control

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Sales supervision

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Sales leadership

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Sales management

With respect to the sales training process, after Brenda is done assessing the sales training needs, she should begin working on:

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Performing sales training

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Setting training objectives

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Setting the sales training schedule

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Evaluating training alternatives

Developing a long-term relationship that focuses on solving the customer’s buying problems is referred to as:

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consulting

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transitioning

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selling

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partnering

Steve is looking for a way to analyze customer data from his territory in an effort to identify new opportunities for sales revenue growth. _______________ could help Steve with this task.

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Deal analytics

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Sales call auditing software

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Cloud computing

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Customer Relationship Management

The primary goal of a ____________ presentation strategy is to influence the prospect’s beliefs, attitudes, or behavior, and to encourage buyer action.

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persuasive

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value

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sensory

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reminder

Which of the following is true with respect to negotiations in foreign cultures?

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Business rituals are largely the same across cultures

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It is sometimes advisable to become antagonistic during negotiations

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German buyers are unlikely to look you in the eye

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Different cultural expectations can cause miscommunication

The most widely used system for dividing responsibility is to organize the sales force on the basis of:

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Products

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Geography

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Markets

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Customers

JoAnn has a website for her business. She advertises her business on a number of online services, but she is not sure which ones are driving traffic to her website and which are not worth the money for advertising. The best thing for JoAnn to do is:

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All websites are public so there really is not a way to determine how people find a website.

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Buy advertising everywhere

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Only advertise 1 or 2 places and see if her sales go up or down

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Use a service such as Google Analytics® to determine what websites and searches are bringing traffic to her site.

The most likely reason for salespeople to make follow-up telephone calls to customers is that:

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sales managers cannot make all the calls themselves

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customer service representatives cannot be trusted to make the calls

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the customer may place repeat orders during a phone call

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follow-up calls are more efficient than e-mails

By demonstrating effective listening, a salesperson is able to do which of the following?

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Beat out the competition

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Always uncover two or three explicit needs

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Convince the buyer that the salesperson’s product is best

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Help build the buyer’s trust

“Smart” sales-force automation tools that analyze data on past customer behavior, cross-selling opportunities, and demographics to identify areas of opportunity are referred to collectively as?

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Sales force automation

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Cloud computing

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Deal analytics

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CRM

A customer has a negative experience at your business and writes about this on a social media review site. What is the best thing for you to do?

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Respond calmly and don’t take it personally.

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Never admit responsibility and divert blame.

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Ignore it. People don’t take those sites seriously.

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Post your reasons for not meeting their expectations.

The purpose of the follow-up communication between customer and salesperson is to express thanks for the order and to:

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introduce related products

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determine if the customer is satisfied

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request referrals for other prospects

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complete the call card form

Andrew is a new sales rep for an industrial chemical supplier. Andrew makes it a point to never be late for an appointment and to always follow through immediately on promises he makes to his customers. These behaviors help Andrew build trust with his customers because they perceive him as:

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dependable

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likeable

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competent

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candid

Steve is a salesperson who is responsible for selling only two of his company’s 15 products. Steve is working in a _____________ sales force.

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Specialized

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Centralized

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Geographic

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Decentralized

Which the following best describes the process of strategic prospecting?

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The process of turning prospects into customers

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The process of locating new customers

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The process of generating leads

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The process of identifying, qualifying, and prioritizing sales opportunities

Conveying interest and understanding is the objective of which active listening component?

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Evaluating

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Sensing

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Responding

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Interpreting

21A series of creative improvements in the sales process that enhance the customer experience is known as:

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value-added selling

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relationship modeling

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customer-oriented sales

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transactional selling

Which statement is most likely true about the communication-style model?

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Emotion and dominance are the two primary dimensions.

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It is based on 3 important dimensions of human behavior

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It is based on a highly accurate self-rating system.

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It is composed of 4 distinct quadrants.

When a prospect has voiced an objection, it is most likely best for the salesperson to:

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Deny the accuracy of the objection

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Clarify the true nature of the problem

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Suggest postponing the negotiations

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Divert attention to a product feature

In order for salespeople to be able to deliver complete comparative product information in sales presentations they must possess:

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trust

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competitor knowledge

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adaptability

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assertiveness

Anthony is a purchasing agent for a hospital. One day the hospital receives a shipment from one of its suppliers with several items missing. Anthony calls the supplier and talks to a customer service representative who is very friendly and helpful. Anthony calls the supplier again the next day but talks to a different customer service representative. This customer service representative is not as friendly and not as helpful. Which of the following describes the problem the supplier has with customer service?

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The first customer service agent set an unrealistic expectation

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Customer service people are hard to train

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The quality of the service provided is inconsistent across customer service agents

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The second customer service agent needs more training

Steve is a salesperson for XYZ Corporation. His territory includes 50 established accounts which he calls on regularly. Although Steve is supposed to allocate some time to prospecting, he’d rather call on his existing accounts. Like many salespeople in his position, Steve resists prospecting because:

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His established accounts are too important.

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He is afraid of rejection.

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He’d rather use his spare time for paperwork.

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He doesn’t believe it’s necessary.

Working to reach an agreement that is mutually satisfactory to both buyer and seller is also called:

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negotiation

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practice theory

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tactics

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agreement

When a customer service problem requires an apology, a salesperson should most likely:

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Send a text message to the customer

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Delegate the task to a customer service representative

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Send a prompt email to the customer

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Call the customer personally

In order to better understand their own product’s position in the market place, salespeople need:

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A high degree of competitor knowledge.

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To be candid.

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To be customer oriented.

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A high degree of customer knowledge.

You have a business that you want to set up on Facebook®. What is the best way to drive traffic to your business using Facebook?

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Create a profile using the name of your business.

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Facebook® does not have business options and only personal profiles are allowed.

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Use a lot of hashtags with your business name.

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Create a business/fan page.

Continue to order Get a quote

July 1, 2023

5) One way to achieve greater comparability of historical-cost based ROIs is to restate performance in dollars.

Use the information below to answer the following question(s).

The following data are available for a foundry operation started as a new company four years ago when the construction cost index was 125:

Current liabilities

$170,000

Operating income

$176,200

NBV long-term assets (end year 3)

$687,500

Current assets

$300,000

Gross book value *

$1,100,000

Estimated total useful life *

8 years

Age of assets *

4 years

Construction cost index end of year 4

150

* = long-term assets at historical cost

6) What is the NBV of the long-term assets at current cost at the end of year 4?

A) $660,000

B) $800,000

C) $960,000

D) $1,180,000

E) $1,760,000

7) What is the current-cost depreciation in year 4 dollars?

A) $165,000

B) $200,000

C) $240,000

D) $295,000

E) $440,000

Use the information below to answer the following question(s).

Ruth Cleaning Products manufactures home cleaning products. The company has two divisions, Bleach and Bleach-2. Because of different accounting methods and inflation rates, the company is considering multiple evaluation measures. The following information is provided for the year just ended:

Assets

Book value

Assets

Current value

Income

Book value

Income

Current value

Bleach

$225,000

$300,000

$150,000

$155,000

Bleach-2

450,000

250,000

100,000

105,000

The company is currently using a required rate of return of 15 percent.

8) What are Bleach's and Bleach-2's return on investment based on current values?

A) 0.22; 0.67

B) 0.42; 0.52

C) 0.52; 0.42

D) 0.67; 0.22

E) 0.50; 0.45

9) What are Bleach's and Bleach-2's residual incomes, based on current values, respectively?

A) $116,250; $37,500

B) $110,000; $67,500

C) $67,500; $110,000

D) $37,500; $116,250

E) $115,340; $80,000

Answer the following question(s) using the information below:

Carriage Ltd. manufactures baby carriages. The company has two divisions, Wheels and Assembly. Because of different accounting methods and inflation rates, the company is considering multiple evaluation measures. The following information is provided for the year just ended:

ASSETS

INCOME

Book value

Current value

Book value

Current value

Wheels

$485,000

$550,000

$120,000

$160,000

Assembly

$750,000

$1,200,000

$160,000

$172,500

The company is currently using a 12% required rate of return.

10) What are Wheels's and Assembly's return on investment based on book values, respectively?

A) 0.21; 0.25

B) 0.25; 0.21

C) 0.14; 0.29

D) 0.29; 0.14

E) 0.33; 0.23

11) What are Wheels's and Assembly's return on investment based on current values, respectively?

A) 0.21; 0.25

B) 0.25; 0.21

C) 0.14; 0.29

D) 0.29; 0.14

E) 0.33; 0.23

12) What are Wheels's and Assembly's residual incomes based on book values, respectively?

A) $74,000; $28,500

B) $61,800; $70,000

C) $63,500; $59.500

D) $28,500; $74,000

E) $101,800; $70,000

13) What are Wheels's and Assembly's residual incomes based on current values, respectively?

A) $70,000; $28,500

B) $94,000; $28,500

C) $94,000; $70,000

D) $28,500; $94,000

E) $61,800; $70,000

14) The cost today of purchasing an asset identical to the one currently held is called a(n)

A) actual cost.

B) current cost.

C) dual cost.

D) fixed cost.

E) sunk cost.

July 1, 2023

5) One way to achieve greater comparability of historical-cost based ROIs is to restate performance in dollars.

Use the information below to answer the following question(s).

The following data are available for a foundry operation started as a new company four years ago when the construction cost index was 125:

Current liabilities

$170,000

Operating income

$176,200

NBV long-term assets (end year 3)

$687,500

Current assets

$300,000

Gross book value *

$1,100,000

Estimated total useful life *

8 years

Age of assets *

4 years

Construction cost index end of year 4

150

* = long-term assets at historical cost

6) What is the NBV of the long-term assets at current cost at the end of year 4?

A) $660,000

B) $800,000

C) $960,000

D) $1,180,000

E) $1,760,000

7) What is the current-cost depreciation in year 4 dollars?

A) $165,000

B) $200,000

C) $240,000

D) $295,000

E) $440,000

Use the information below to answer the following question(s).

Assets

Book value

Assets

Current value

Income

Book value

Income

Current value

Bleach

$225,000

$300,000

$150,000

$155,000

Bleach-2

450,000

250,000

100,000

105,000

The company is currently using a required rate of return of 15 percent.

8) What are Bleach's and Bleach-2's return on investment based on current values?

A) 0.22; 0.67

B) 0.42; 0.52

C) 0.52; 0.42

D) 0.67; 0.22

E) 0.50; 0.45

9) What are Bleach's and Bleach-2's residual incomes, based on current values, respectively?

A) $116,250; $37,500

B) $110,000; $67,500

C) $67,500; $110,000

D) $37,500; $116,250

E) $115,340; $80,000

Answer the following question(s) using the information below:

ASSETS

INCOME

Book value

Current value

Book value

Current value

Wheels

$485,000

$550,000

$120,000

$160,000

Assembly

$750,000

$1,200,000

$160,000

$172,500

The company is currently using a 12% required rate of return.

10) What are Wheels's and Assembly's return on investment based on book values, respectively?

A) 0.21; 0.25

B) 0.25; 0.21

C) 0.14; 0.29

D) 0.29; 0.14

E) 0.33; 0.23

11) What are Wheels's and Assembly's return on investment based on current values, respectively?

A) 0.21; 0.25

B) 0.25; 0.21

C) 0.14; 0.29

D) 0.29; 0.14

E) 0.33; 0.23

12) What are Wheels's and Assembly's residual incomes based on book values, respectively?

A) $74,000; $28,500

B) $61,800; $70,000

C) $63,500; $59.500

D) $28,500; $74,000

E) $101,800; $70,000

13) What are Wheels's and Assembly's residual incomes based on current values, respectively?

A) $70,000; $28,500

B) $94,000; $28,500

C) $94,000; $70,000

D) $28,500; $94,000

E) $61,800; $70,000

14) The cost today of purchasing an asset identical to the one currently held is called a(n)

A) actual cost.

B) current cost.

C) dual cost.

D) fixed cost.

E) sunk cost.

July 1, 2023

5) One way to achieve greater comparability of historical-cost based ROIs is to restate performance in dollars.

Use the information below to answer the following question(s).

The following data are available for a foundry operation started as a new company four years ago when the construction cost index was 125:

Current liabilities

$170,000

Operating income

$176,200

NBV long-term assets (end year 3)

$687,500

Current assets

$300,000

Gross book value *

$1,100,000

Estimated total useful life *

8 years

Age of assets *

4 years

Construction cost index end of year 4

150

* = long-term assets at historical cost

6) What is the NBV of the long-term assets at current cost at the end of year 4?

A) $660,000

B) $800,000

C) $960,000

D) $1,180,000

E) $1,760,000

7) What is the current-cost depreciation in year 4 dollars?

A) $165,000

B) $200,000

C) $240,000

D) $295,000

E) $440,000

Use the information below to answer the following question(s).

Assets

Book value

Assets

Current value

Income

Book value

Income

Current value

Bleach

$225,000

$300,000

$150,000

$155,000

Bleach-2

450,000

250,000

100,000

105,000

The company is currently using a required rate of return of 15 percent.

8) What are Bleach's and Bleach-2's return on investment based on current values?

A) 0.22; 0.67

B) 0.42; 0.52

C) 0.52; 0.42

D) 0.67; 0.22

E) 0.50; 0.45

9) What are Bleach's and Bleach-2's residual incomes, based on current values, respectively?

A) $116,250; $37,500

B) $110,000; $67,500

C) $67,500; $110,000

D) $37,500; $116,250

E) $115,340; $80,000

Answer the following question(s) using the information below:

ASSETS

INCOME

Book value

Current value

Book value

Current value

Wheels

$485,000

$550,000

$120,000

$160,000

Assembly

$750,000

$1,200,000

$160,000

$172,500

The company is currently using a 12% required rate of return.

10) What are Wheels's and Assembly's return on investment based on book values, respectively?

A) 0.21; 0.25

B) 0.25; 0.21

C) 0.14; 0.29

D) 0.29; 0.14

E) 0.33; 0.23

11) What are Wheels's and Assembly's return on investment based on current values, respectively?

A) 0.21; 0.25

B) 0.25; 0.21

C) 0.14; 0.29

D) 0.29; 0.14

E) 0.33; 0.23

12) What are Wheels's and Assembly's residual incomes based on book values, respectively?

A) $74,000; $28,500

B) $61,800; $70,000

C) $63,500; $59.500

D) $28,500; $74,000

E) $101,800; $70,000

13) What are Wheels's and Assembly's residual incomes based on current values, respectively?

A) $70,000; $28,500

B) $94,000; $28,500

C) $94,000; $70,000

D) $28,500; $94,000

E) $61,800; $70,000

14) The cost today of purchasing an asset identical to the one currently held is called a(n)

A) actual cost.

B) current cost.

C) dual cost.

D) fixed cost.

E) sunk cost.

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