31) The purchase by a foreign government of an airplane produced in the United States is included in U.S. A) consumption expenditures. B) investment expenditures. C) government purchases. D) net exports. 32) In 2013, Kendall Ford, an automobile dealership, spent $20,000 on a new car lift for its repair shop, $2,000 on a new copy machine for its sales division, and $600,000 […]
Multiple choice 49.Managerial accounting stresses accounting concepts and procedures that are relevant to preparing reports for A.investors and banks. B.internal users of accounting information. C.shareholders and creditors. D.the Securities and Exchange Commission (SEC). 50.The goal of managerial accounting is to provide information that managers need for A.planning, control, and financial reporting. B.control, evaluation, and financial reporting. C.planning, control, and decision making. D.preparing […]
41. Bernstein Inc.Bernstein Inc. is a local retailer. The following selected information is available from their 2011 and 2012 financial statements: Accounts receivable at 12/31/11 $ 160,000 Accounts receivable at 12/31/12 240,000 Inventory at 12/31/11 300,000 Inventory at 12/31/12 360,000 Net credit sales for 2012 3,400,000 Cost of goods sold for 2012 1,980,000 Net income for 2012 1,000,000 Refer […]
41) Declines in spending on residential construction are often due to increases in interest rates. The collapse in residential construction prior to and during the recession of 2007-2009 was due more to ________ than to higher interest rates. A) the financial crisis that began in 2007 B) the rapid inflation of the early 2000s C) increases in the price of lumber D) rising […]
81) ________ describes what people experience when some of their sensory input is not from the real world, but from a computer-generated one. A) Telepresence B) Disinhibition C) Presence awareness D) Virtual reality 82) A graphical, often 3-D environment in which users can immerse themselves, interacting with virtual objects and one another using avatars is known as ________. A) a virtual world […]
31.Which of the following will increase in price as the value of the underlying asset decreases in price, from the option holder’s perspective? a.call option b.put option c.a long future position. d.none of the above. 32.You notice that you can purchase an option for $5. The price of the underlying stock is currently $42. What is the option premium for this option? a.$5 b.$37 […]
61) Based on the production function in the above figure, which of the following is an attainable combination of labor and real GDP? i.300 billion hours of labor and real GDP of $20 trillion ii.300 billion hours of labor and real GDP of $8 trillion iii.100 billion hours of labor and real GDP of $12 trillion A) i only B) ii only C) iii […]
Speed Racer, Inc. Speed Racer, Inc. is thinking about retiring a $100,000,000 issue of bonds that it sold to the public 20 years ago. The original maturity date for the bonds was 30 years. 67.Refer to Speed Racer, Inc. If the bonds were initially sold at 98, then what is the dollar amount of the unamortized discount that would be accelerated at […]
11) One reason patent protection is vitally important to pharmaceutical firms is A) successful new drugs are not profitable. If firms are not granted patents many would go out of business and health care would be severely diminished. B) the approval process for new drugs through the Food and Drug Administration can take more than 10 years and is very costly. Patents enable […]
131.The following information is reported for the current year for North Atlantic Division of XT Enterprises: Sales$3,800,000 Interest expense$250,000 Net income$500,000 Total assets$5,000,000 Noninterest-bearing current liabilities$400,000 Cost of capital8% Required rate of return14% Tax rate30% As it relates to investment center evaluation, how much is the division’s profit margin, rounded to the nearestwhole percentage? A.18% B.13% C.10% D.11% 132.The following […]
31.Whichofthefollowingwouldcausepricetodecrease?
a.adecreaseinsupply
b.anincreaseindemand
c.asurplusofthegood
d.ashortageofthegood
32.Whenthepriceofagoodishigherthantheequilibriumprice,
a.ashortagewillexist.
b.buyersdesiretopurchasemorethanisproduced.
c.sellersdesiretoproduceandsellmorethanbuyerswishtopurchase.
d.quantitydemandedexceedsquantitysupplied.
33.Asurplusexistsinamarketif
a.thereisanexcessdemandforthegood.
b.quantitydemandedexceedsquantitysupplied.
c.thecurrentpriceisaboveitsequilibriumprice.
d.Alloftheabovearecorrect.
34.Ifasurplusexistsinamarket,thenweknowthattheactualpriceis
a.abovetheequilibriumprice,andquantitysuppliedisgreaterthanquantitydemanded.
b.abovetheequilibriumprice,andquantitydemandedisgreaterthanquantitysupplied.
c.belowtheequilibriumprice,andquantitydemandedisgreaterthanquantitysupplied.
d.belowtheequilibriumprice,andquantitysuppliedisgreaterthanquantitydemanded.
35.If,atthecurrentprice,thereisasurplusofagood,then
a.sellersareproducingmorethanbuyerswishtobuy.
b.themarketmustbeinequilibrium.
c.thepriceisbelowtheequilibriumprice.
d.quantitydemandedequalsquantitysupplied.
36.Whenasurplusexistsinamarket,sellers
a.raiseprice,whichincreasesquantitydemandedanddecreasesquantitysupplied,untilthesurplusiseliminated.
b.raiseprice,whichdecreasesquantitydemandedandincreasesquantitysupplied,untilthesurplusiseliminated.
c.lowerprice,whichincreasesquantitydemandedanddecreasesquantitysupplied,untilthesurplusiseliminated.
d.lowerprice,whichdecreasesquantitydemandedandincreasesquantitysupplied,untilthesurplusiseliminated.
37.Supposerosesarecurrentlysellingfor$40perdozen,buttheequilibriumpriceofrosesis$30perdozen.We wouldexpecta
a.shortagetoexistandthemarketpriceofrosestoincrease.
b.shortagetoexistandthemarketpriceofrosestodecrease.
c.surplustoexistandthemarketpriceofrosestoincrease.
d.surplustoexistandthemarketpriceofrosestodecrease.
38.Supposechocolate-dippedstrawberriesarecurrentlysellingfor$30perdozen,buttheequilibriumpriceofchocolate-dippedstrawberriesis$20perdozen.Wewouldexpecta
a.shortagetoexistandthemarketpriceofchocolate-dippedstrawberriestoincrease.
b.shortagetoexistandthemarketpriceofchocolate-dippedstrawberriestodecrease.
c.surplustoexistandthemarketpriceofchocolate-dippedstrawberriestoincrease.
d.surplustoexistandthemarketpriceofchocolate-dippedstrawberriestodecrease.
39.Thecurrentpriceofbluejeansis$30perpair,buttheequilibriumpriceofbluejeansis$25perpair.Asaresult,
a.thequantitysuppliedofbluejeansexceedsthequantitydemandedofbluejeansatthe$30price.
b.theequilibriumquantityofbluejeansexceedsthequantitydemandedatthe$30price.
c.thereisasurplusofbluejeansatthe$30price.
d.Alloftheabovearecorrect.
40.Auniversity'sfootballstadiumisnevermorethanhalf-fullduringfootballgames.Thisindicates
a.theticketpriceisabovetheequilibriumprice.
b.theticketpriceisbelowtheequilibriumprice.
c.theticketpriceisattheequilibriumprice.
d.nothingabouttheequilibriumprice.
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