RN - HOME HOSPICE        
PA-YORK, RN Home Hospice - FT, Day Shift Home Hospice, Night on Call (5pm- 8am), 7 days on/off We offer: Competitive Wages, 6 wks paid time off after 1st year, 401(k) with 100% match, variety of insurance options Apply: hospicecommunity.org EOE 224 St Charles Way, Suite 200, York PA 17402
           How to switch all your bills without getting into a muddle         
We're constantly being told that to get the best deals on everything from broadband to energy and insurance we should switch, switch, switch. But it's not always as simple as we're led to believe.
          Thanks For The Help Obama But Are You Willing To Pay $5000 For The Modification Of Your Mortgage?        
Since the Obama Administration introduced the new Loan Modification Plans on Wednesday 4th March 2009, many people have gone about planning the changes to their mortgages.

However, one stumbling block seems to get in everyone's way! The process of approaching your lender for the Modification of Your Mortgage usually requires a middleman. This is when the help of specialized attorneys, Loan Modification companies and professionals is required.

How much do these services cost you?

Well, you could be looking at anywhere from $1500 to $5000. Now, the way i see things, if you had that kind of money freely available you probably wouldn't need to approach your lender.
The actual plan of the Obama administration is to help out the 4 million plus Americans, who have either fallen behind with their monthly mortgage repayments or to those unfortunate enough to be facing foreclosure.

The help you will be offered is over a five year period. You mortgage principle can be reduced by up to $5000. Your interest rate can be dropped to as low as 2% and the term of your home loan can be extended up to a maximum of 40 years.

This certainly is a fantastic helping hand to those suffering financial hardship and looking to modify their mortgage repayments, but once again, you are faced with the fees and charges to get the ball rolling.

I knew it wouldn't be long before someone had to go through this whole process and then worked out a way of doing it for themselves! You are undoubtedly looking for no huge fees, no additional charges, just some guidance on how to approach the Loan Modification process. Hence the birth of the DIY Loan Modification Kit!

With the help of this kit, you can learn to:-

- Lower your interest rate and your payment

- Reduce the principal balance

- Convert to a fixed rate for peace of mind

- Have all late fees and charges removed from your record

- Stop the Foreclosure process

Click Here For More Info On The Do-It-Yourself Loan Modification Kit

What have some of the people who have used the DIY Loan Modification Kit got to say:-

"Thanks to the Do-It-Yourself Loan Modification Kit I was able to save my home! I had to stick to it for 3 months and really put my head down, but it was well worth it in the long run. I will be the first one to say it wasn't easy, but if you are struggling to make ends meet, it is definitely worth it. I ended up with a 40yr term at 4.5% reducing my mortgage over $1000 per month! I talked to a loan modification company before I chose the kit, but they wanted $3,500 upfront. I weighed my options and for only $29.95 I knew exactly what I was going to receive! And If I couldn't get the loan modification done myself at least I had peace of mind that I didn't waste $3,500."
Ted Basil, Syracuse, NY

"We have been in our home for 3 years and I think we were given the wrong mortgage. We got behind, but your kit showed us how to make our lender listen! We are now in a mortgage that we can afford. Our entire family appreciates you and the information that you provide."
Paul and Brenda Keen, Danbury, CT

"I was over $10,000 behind on my mortgage. My rate had just adjusted to 13.25%! Using your kit, I was able to negotiate the following: 13.25% adjustable rate was taken to an 8% fixed!And, get this... the lender allowed me to have the $10,000 I was behind, rolled onto the back of my loan!My new payment including taxes and insurance, is $300 less than what my previous payment was, and that's not including the taxes and insurance!!!
Thank you, Thank you, Thank you!"

Vivian Stephens , Dallas, TX

Click Here For More Info On The Do-It-Yourself Loan Modification Kit
          A world with 1.3 billion old people by 2040        
[+7] Discussion by Walter Hinteler on 07/20/09 5:02 AM Replies: 7 Views: 2,180
Tags: Old Age, Retirement, Long Term Care Insurance, Retirement Home
Last Post by vishal1 on 12/30/16 4:39 AM
          The Hanover Insurance Group Inc Headquarters Address, Phone Number, Email        

The Hanover Insurance Group Inc Headquarters, mailing, physical office address, telephone number, contact number, fax number, website, social and online help and support links are listed with the The Hanover Insurance Group Inc customer support number or email address, customer service phone number of The Hanover Insurance Group Inc, address of The Hanover Insurance Group ...

The post The Hanover Insurance Group Inc Headquarters Address, Phone Number, Email appeared first on Customer Service Address.


          GEICO Insurance Customer Service Number, Head Office Address, Email ID        

GEICO Insurance Customer Service Number, Office Address, Email– toll free helpline number, and with reviews and all other important information is available here. So, as this post we are here to provide you information about GEICO products and services, operations and several other things. GEICO Insurance customer support team also helps you to choose best ...

The post GEICO Insurance Customer Service Number, Head Office Address, Email ID appeared first on Customer Service Address.


          GEICO Insurance Corporate Headquarters Address, Phone Number, Email        

GEICO Insurance Corporate Headquarters Address, Phone Number, Email– toll free helpline number, and with reviews and all other important information is available here. So, as this post we are here to provide you information about GEICO Insurance products and services, operations and several other things. GEICO Insurance Corporate Headquarters customer support team also helps you ...

The post GEICO Insurance Corporate Headquarters Address, Phone Number, Email appeared first on Customer Service Address.


          AIG USA Life Insurance Customer Service Number, Head Office Address, Phone Number        

AIG USA Life Insurance Customer Service Number, Head Office Address, Phone Number – helpline customer support number, email id and website is listed below with the headquarters or other office address, telephone number, and fax number. As this page, we are providing the AIG USA Life Insurance customer service phone number and toll free helpline number ...

The post AIG USA Life Insurance Customer Service Number, Head Office Address, Phone Number appeared first on Customer Service Address.


          Workforce Safety and Insurance Grants Often Choosing LiftnBuddy        
Workforce Safety and Insurance Grants Often Choosing LiftnBuddy
          Operations Director - Walter A 'Slim' Thorpe Recovery Centre - Blackfoot, AB        
Oversee office space and office system needs, purchasing equipment, expense reimbursement, securing insurance, etc....
From Indeed - Mon, 17 Jul 2017 14:44:19 GMT - View all Blackfoot, AB jobs
          Button - Wood Button - Giant Wood Button by ColdCreekBrewing        

25.00 USD

A GIANT Button, made by Ryan, of course! :)

It's made of solid, yet light weight, rustic pine. Easy to hang on the wall with the hole drilled in the back. (We use push pins!)

This listing is for 1 (ONE) Button

Approx. 11" x 1.5"

If you would like a finish that we don't offer, please choose the "Custom Finish" option and let us know in the "Note to Seller" box at checkout what you would like. We will do our best to accommodate, but cannot guarantee exact matches. :) Though we do our best to portray accurate colors of stain, finish work, etc. coloring can vary on computer monitors. Additionally, the grains and knots in received orders will vary from the ones pictured.

**** PLEASE READ THE FOLLOWING INFORMATION**** THANK YOU!! :)

These are made to order by Ryan for you. :) Though "Quantity" may show more than one is available, this is our method to allow you to either order more than one at a time, and also the way we are able to "auto" renew our listing on Etsy.

We ask to allow up to 14 days from cleared payment for your order to ship. Feel free to contact us if you need your order expedited and we'll see what we can do! :)

**INTERNATIONAL ORDERS: Shipping prices are for USPS International First Class. Unless over 4 pounds, then it will be Priority. Shipping cost does not include any Duties, Taxes, VAT charges that may be imposed upon arrival by your Government. We just like to mention this, so you don't have an unpleasant surprise if you haven't placed an International Order before. :)

****If you live in Alaska, Hawaii OR would like shipping upgrades, as in Priority, Expedited, or Insurance, please contact us BEFORE checkout so we can customize the listing to reflect the correct shipping fee. Or go ahead and purchase the items and we will just invoice you for the price difference. Items will ship after payments and additional invoices have cleared.

Please read over our Shop Policies to learn more about our items, shipping, payment and returns.


          Umbrella Insurance Policies in Maine and Underinsured At-Fault Drivers        

In most states, including Maine, uninsured motorist coverage is mandatory. Uninsured motorist coverage is an exception to the basic idea in insurance and tort law that an injured person’s damages should be paid by or on behalf of the at-fault party. In Maine, the amount of uninsured motorist coverage that must be provided depends on […]

The post Umbrella Insurance Policies in Maine and Underinsured At-Fault Drivers appeared first on Maine Personal Injury Lawyers Blog.


          Senior moments...        

A bit of catching up to do on the blog as last week I posted about the story of my brother in two parts.

Spring is on its way! These buds were spotted on my next to last
Sunday walk of 8.5 miles. I also saw banks of snowdrops, crocuses, primroses and some tiny daffodils - all seen in wild places and not in people's gardens.

Here's a few of  the week before last week's outfits.

Everything charity shopped except the boots - Christmas 2016 present from daughter.


I wanted to show this necklace which I picked up at the Red Cross on Monday for £1.50. I also bought some bangles and a couple of books. All jewellery charity shopped.


Pink corduroy shirt bought from £1 rail in the Red Cross a few weeks back.


Everything is charity shopped except the brown boots - Christmas present 2015.


All jewellery charity shopped.

I walked Wednesday the week before last (6.2 miles) and on the Friday of the same week I walked 5.5 miles. A good week's walking for me; just on 20 miles which is what I want to do on a weekly basis. What else have I been up to?

I finished my blanket...


Thanks to Attic 24 here for the Granny Stripe pattern.

Last Thursday I paid a visit to Barnardo's in Great Denham - I know - but I couldn't resist a quick peek to see if they still had their sale rail. They did. I bought 5 tops at 1.00 each. A yellow tunic; a brown waistcoat, two striped tops and a floral top.

I paid a visit to the library last Saturday and got a pile of books - just what I don't need, more books to read, but I've been after a few of the titles for a while...

This was last Saturday's outfit. Everything charity shopped except the top which was from Store 21 sale.


I bought the waistcoat for £1.00 in the Red Cross two weeks ago. I think it's hand made as there are no labels. It has lovely embroidery on the pockets:



Boots were also from the Red Cross but I can't remember where I bought the jeans.


All jewellery charity shopped. I bought this unusual chain which I think looks very Art Deco in the Heart Foundation shop in Northampton.

Last Sunday I went out early for another walk and did 5 miles.
I've been asked to lead another walk for the Rambler's summer walks programme in May. I won't do a new route but reverse the route I used in 2016 when I led my first walk; it will be around 7 miles and hopefully we'll have decent weather...

Monday's outfit.


All jewellery charity shopped. I forgot to put my bangles on  - I was running slightly late.


This is the yellow tunic I bought last week in Barnardo's for 1.00. It's from H&M; the top is from Cotton Traders and was also charity shopped.


The tunic has pockets! Floral leggings, Store 21 sale and brown boots from Sainsbury's.

I know memory worsens as you get older. I've certainly noticed a change in mine. I sometimes can't remember the word for something - for example a while ago it took me to two days to think of the word for 'brioche'! I never forget faces but often forget names. I start out to do things but I get easily sidetracked by other things and don't always finish what I started.  But this weekend I realised I had had a major memory lapse. For the past five months I've been driving around without an MOT.

I'd got my car serviced in September and thought it had been MOT'd as well. It hadn't. I had to get to the nearest MOT place pretty sharpish on Monday; I can tell you. I'm just so lucky I didn't get gripped by the police; or even more serious have an accident. No MOT means invalid car insurance. Apparently, I should have had a text message reminder last September from the MOT centre but I didn't receive one. They've set one up now so I can't make this mistake again. Don't worry, I'm sure I haven't got dementia but am exhibiting typical memory changes as part of the ageing process...


I remembered to go to the food bank on Tuesday morning! I missed my last session because I had the lurgy and didn't want to share it. It was good to be back. It's quite a physical role in the warehouse; bending and stretching and lifting and weighing boxes of stuff. I always come home with a pleasant ache in my back that tells me I've been challenging my body.


I bought this dress on Monday at the Red Cross - a M&S navy blue sweater dress for 1.99. Everything is charity shopped including the striped tights which attracted a lot of comment. They're going to go in the charity shop bag because although they fit fine in the leg the pants part only comes just up to my hips and they roll down gradually...


All jewellery, including watch, is charity shopped.

I bought some lovely blue beads as well on Monday at the Red Cross and something for the OH.

On Wednesday I set out to walk with the group. I never made it. I was putting my faith in my sat nav to find the meeting point and it sent me through a village and around the houses. I knew it was wrong when it told me to turn into Clophill village. but I was thinking "maybe it's a shortcut" it soon became the apparent the sat nav didn't know what it was doing!  Oh well, at least it was the sat nav's fault and not me having a senior moment! By the time I found a safe space to park up and reset the destination point I would  have got there too late.   One thing I've learnt about my Rambler's group,  in the three years I've been a member, is that they leave punctually at 10 am. I came back home and went for a six mile walk by myself...


Here I am; hot and sweaty on the final leg...I was walking with poles so didn't have a free hand to carry my jacket in and so it stayed on.


This is what I'd stopped for. Two swans resting in a huge field. I don't know about you but up until about a  year ago I had only ever seen swans on water or near water; canal side, riverside, lakeside. Then one day en route to Kettering; I spotted a wedge (flock) of swans resting in a water logged field. I began to see more and more swans in fields away from water. I don't know if this has always happened but I've only noticed it recently.


I also spotted yellowhammers on my walk - brilliant flashes of bright yellow in and out of the hedgerows.


This was Thursday's outfit.


Everything charity shopped except the boots and blue tights - just seen. I bought the floral top which is by Wallis, from Barnardo's in Great Denham last week. I had my scarf on as I'd been out food shopping and forgot to take it off! All jewellery is charity shopped.


Later, I tried some different earrings and a necklace...

On Friday, I'm going for a walk with the group. I know how to get to the destination so won't be relying on the sat nav. It will be an 8 mile walk along the Greensand Ridge and I'm looking forward to it. I'll just need to add in a couple of miles walk on Saturday to reach my target of twenty miles this week.

I hope you all have a lovely weekend; the weather's been remarkably pleasant the last few days; is it going to last, I wonder?

          Attorney General Shapiro announces settlement with Nationwide Insurance        
For the Review

HARRISBURG — Attorney General Josh Shapiro and a bipartisan coalition of 32 other attorneys general have announced a settlement with Nationwide Mutual Insurance Company and a subsidiary for a 2012 data breach that resulted in the loss of personal information belonging to more than 1.2 million Americans, including 36,000 Pennsylvanians.

37689625

read more


          Tea Party Pennsylvania Bill would give patients more privacy control over health care        
The bill also seeks to protect the rights of patients to buy health insurance, or make any other arrangements to pay for their own health care.





New federal legislation seeks to prevent government bureaucrats from interfering in private health care and guarantee patient rights to control health care decisions.





Republican Congressman Pennsylvania Rep. Charlie Dent, R-15, and Illinois Rep. Mark Kirk are the cosponsors of the Medical Rights Act of 2009 bill, which was introduced Wednesday. The lawmakers co-chair the centrist GOP Tuesday Group.





"As Congress begins to discuss how best to address America's health care challenges, we must protect the sacrosanct relationship between a patient and a doctor," Dent said. "One of the greatest strengths of our health care system is that Americans can rely on getting the care that they need when they need it."





The bill prevents the government from rationing private health care and actions that interfere in the doctor-patient relationship, the congressman contends. It also would prevent the federal government from regulating the hiring practices of organizations that provide health care, such as hospitals and clinics.





The bill protects the rights of patients to buy health insurance, or make any other arrangements to pay for their own health care. Several foreign countries and several current health care reform proposals substantially restrict this right, according to the bill.





Additionally, the proposed bill would give Americans who get care under government health programs, such as Medicare, the ability to obtain health care outside the program.





In the U.S., if a Medicare-participating doctor accepts payment for a service that would otherwise be covered under Medicare, the doctor is suspended from participating in the federal health program for the elderly for two years, according to the bill.





"This substantially restricts the ability of Medicare patients to pay on their own if Medicare decides they are ineligible for a particular service normally covered by the program," according to the bill. "Not many doctors are willing to take that penalty, so this substantially (if indirectly) restricts the right of seniors and the disabled to access the health care of their choice."





With Congress preparing to debate health care reform this summer, the men warned legislation allowing government involvement in health care decisions could have "dire consequences." They cite other public health programs in Canada and Britain as examples of how government involvement compromises quality.





Long waits for care elsewhere





In a news release, the men cited a 2008 Commonwealth Fund International survey that found most Canadians and British adults waited longer than four weeks to see a medical specialist compared with only 26 percent of Americans.





They also cited long waits for care, based on a Heritage Foundation study that found 43 percent of Canadian patients and 15 percent of British patients received hip replacements within six months, compared with more than 90 percent of American senior citizens.





About 30 percent of Canadians' health care is paid for through the private sector, according to the Organisation for Economic Co-operation and Development, a group of 30 countries that meets regularly to discuss global issues and make economic and social policies.





The private payments are mostly for services not covered or partially covered by Canada's health program, such as prescription drugs and dentistry, according to the OECD.





About 65 percent of Canadians have some form of supplementary private health insurance and many receive it through their employers.





Canada spends less of its gross domestic product on health care (10.4 percent, versus 16 percent in the U.S.) and performs better on two commonly cited health outcome measures - the infant mortality rate and life expectancy.





A 2007 National Bureau of Economic Research report found the U.S. experienced a higher incidence of chronic health conditions than Canada, but Americans had somewhat better access to treatment for the conditions. Also, a significantly higher percentage of U.S. residents were screened for major forms of cancer.





The need to ration health care resources in Canada is the reason most Canadians cited for unmet medical needs, where in the U.S., more than half of those surveyed cited health care costs as the reason for unmet needs, the agency found.


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Article Source: www.articlesnatch.com


          brand driven innovation presentation        
Here’s a presentation that summarises the ideas behind Brand Driven Innovation and provides a concrete 4 step plan for action, including many examples. The presentation was held for a group of French CEO’s of a large mutual insurance fund. I find myself thinking and talking a lot these days about what it takes for an […]
          RE[5]: USD vs. EUR        
so 1290 is still 190 dollars more expensive. Yes, but how much do you pay every month for health insurance? It costs me $95 a month to put my husband on my HMO. (For you in Europe, a Health Maintainance Organization is the cheapest, most restrictive kind of health insurance there is. [Were I to go to a less restrictive plan, it would be $212 a month to insure him.])Edited 2006-09-06 18:42
          RE[6]: USD vs. EUR        
(It costs me $95 a month to insure my husband ... under an HMO.) You think we get free healthcare? I wish! Do not be fooled. We pay our healthcare via our employers. In other words, before you get your money from your employer, healthcare insurance will be taken off of it. This is done to ensure nobody is without proper healthcare insurance.
          RE[7]: USD vs. EUR        
No, I don't think you get free health care. (I don't, either. My salary is lower than in the public sector, the price of my "free" health insurance.) My point was actually that there isn't a free lunch. European governments tend to provide certain amenities/services that the US government doesn't -- well maintained dykes and functional disaster relief organizations come to mind* -- but all of that comes at a price. Namely, taxes. --- *I've been re-reading some of my friends' Hurricane Katrina blogs recently ....
          Ah er.. well..        

In reply to A little different spin

Hey Nano...  I am sure that it may be difficult to tell it like it is.. but after all, Denial is NOT a river in Egypt..   Facts are sometimes difficult to give and just as difficult to receive. but they still are facts.  Sadly, I dare say many or even most of us will get that news one day that they have Mets.   I usually am one of those that does not want to know.. but there I was asking that difficult question only a few days after surgery... I saw my Surgeon gulp at the thought of having to give me an answer.. he told me I had about a 60% chance of no Mets.  I smiled at him and stated that was better than I had thought... 

Still after about 9 months of clear scans I went back in to denial, only to have the reality hit when my scans came back with Mets.  I know I would of been better off, had I gotten more info prior surgery, and again prior to my first scan.  After all, knowledge is power.  I blindly went to two Oncologists that were not fully up to the fast pace / latest info on treatments.  I almost made a very bad mistake with Onc number one.. I got lucky that this Dr was not covered by my insurance and I went to Onc two that was obviously incompetent.  So, I went and e-mailed my surgeon asking advice... he quickly got me to one of the best in the country..!   And thanks to this list, I learned a LOT.. more than a LOT..!   Your diet info firmed up what I should or should not eat, thank you.  And, all the info on side effects on Votrient is priceless, it helped me prepare and not panic.. on and on.  I was a lot better prepared for the Votrient than I would of been without this place..!

But one of the best parts of this forum is all the well wishes from people I have never met..!!   So, keep on giving sound advice.. we all need you.. and for that one person that may get a bit mffed about the truth, well.. they soon will (sadly) find out anyway.  but having advance info can also settle the mind...

OK, off to start a new post...  

Be Well All..!

Ron


          How Should Remote Clinical Monitoring Be Used to Treat Alcohol Use Disorders?: Initial Findings From an Expert Round Table Discussion        
Scientific evidence combined with new health insurance coverage now enable a chronic illness management approach to the treatment of alcohol use disorders (AUDs), including regular monitoring of blood alcohol content (BAC), as a useful indicator of disease control. Recent technical advances now permit many different types of remote, real-time monitoring of BAC. However, there is no body of research to empirically guide clinicians in how to maximize the clinical potential of remote BAC monitoring. As an initial step in guiding and supporting such research, the manufacturer of one remote BAC monitoring system sponsored a group of experienced clinicians and clinical researchers to discuss 8 issues that generally affect remote, clinical BAC monitoring of “adults in outpatient AUD treatment.” The expert panel unanimously agreed that remote BAC monitoring for at least 12 months during and after the outpatient treatment of AUD was a clinically viable deterrent to relapse. There was also consensus that positive test results (ie, recent alcohol use) should lead to intensified care and monitoring. However, there was no agreement on specific types of clinical intensification after a positive test. The panel agreed that sharing positive and negative test results with members of the patient support group was helpful in reinforcing abstinence, yet they noted many practical issues regarding information sharing that remain concerning. Significant differences within the panel on several important clinical issues underline the need for more clinical and implementation research to produce empirically-supported guidelines for the use of remote BAC monitoring in AUD treatment.
          Wire Harness Assembly - Lead Technician        

Wire Harness Assembly - Lead Technician | Full Time Position

Bazzaz, Inc. is currently seeking to fill a full-time position for a Wire Harness Assembly - Lead Technician.

Bazzaz is a designer and manufacturer of superior-quality motorcycle & ATV electronics and dynamometers located in Chino Hills, CA.
We are committed to providing customers the very best experience which we believe stems from hiring the best employees.
For more information on the company please visit bazzaz.net.

Location: Chino Hills, CA

Description: Seeking an individual who is proficient in operating wire cut and strip, and terminal press machines.
Able to perform cable harnessing, wire harnessing, assembly and subassembly using drawings, schematics, and wire diagrams.
Candidate should be acutely focused on quality and will perform quality inspections. Listed below are the basic duties and requirements of the position:

  • Assemble wire & cable harnesses, subassemblies, wiring, crimping, soldering, plugging stripping, routing, inspecting, and potting.
  • Understand and be to operate wire cut & strip machine & terminal presses
  • Basic knowledge of components & maintain inventory of parts
  • Perform quality inspections
  • Perform regular maintenance and upkeep of the equipment
  • Monitor production runs
  • Follow strict quality control process
  • Must be able to work 40 hours per week 7AM-4PM
  • Able to read, write, and communicate in English
  • Explain assembly procedures or techniques to other workers
  • Set up and maintain a clean work environment at all times
  • Understand and follow all safety policies, codes, and procedures
  • Lead a team of 4-10 wire harness assemblers

We are looking for a responsible, highly motivated and detail oriented individual, who wants to be part of an exciting and dynamic company.
Bazzaz is on the leading edge of technology in the motorcycle aftermarket industry.

Desired Qualifications:

  • 2 years electro-mechanical assembly experience with cable and wire harnessing
  • Must be able to accurately identify components
  • Committed to quality
  • Detailed
  • Good eye / hand coordination is a must
  • Able to work in MS Outlook and Excel
  • Able to meet strict deadlines
  • Bi-lingual, English & Spanish a plus

Benefits:

  • Starting Wage is $12.00 - $16.00 per hour, based on experience.
  • After six months eligible for company Health/Dental/Vision Insurance.
  • 1 week vacation. Paid personal days. Paid Holidays.
  • Monthly bonus plan.

Applicant must successfully pass a drug screening, E-Verify, and background check in order to qualify.

Bazzaz, Inc. is an at-will, equal opportunity employer. If you believe yourself to be a good candidate and meet all requirements,
please e-mail a brief description of your qualifications and resume to Josef Buxton.

*Position descriptions and anticipated skills acquired are neither conclusive nor definite and can be expected to change throughout term of employment.

 

 


          Purchasing & Production Manager        

Production & Purchasing Manager | Full Time Position

Bazzaz, Inc. is seeking to fill a full-time position for a Purchasing & Production Manager. 

Bazzaz is a designer and manufacturer of superior-quality motorcycle & ATV electronics and dynamometers located in Chino Hills, CA. We are committed to providing customers the very best experience which we believe stems from hiring the best employees. For more information on the company please visit bazzaz.net.

Location: Chino Hills, CA

Description: Seeking an individual who will plan, organize, and control production at Bazzaz Z-Fi fuel controller factory, which produces harnesses, strain gages, and printed circuit boards. Candidate must be committed to ensuring that Bazzaz products are produced efficiently, on time, within budget and to the highest quality standard. Issues Purchase Orders for the raw materials. Candidate should be solution-driven and acutely focused on quality. Listed below are the basic duties and requirements of the position:

    • Supervises production assembly team of 12-20 persons. Subordinates perform assembly of products or sub-assemblies according to verbal or written instructions, or by following drawings or diagrams. Provides work direction and reviews work performance.
    • Responsible for light maintenance of production machinery for harnessing and SMT.
    • Production Planning and ability to apply LEAN manufacturing techniques.
    • Manages the purchasing function according to department policy and procedure. Accepts and scrutinizes vendor bids or proposals. Selects sources based upon analysis. Arranges vendor contracts, bargains for best costs, and observes quality of purchased materials. Prepares reports and required documents. Organizes activities with sales, engineering, production, or warehouse personnel.
    • Manages inventory of materials, parts, and finished product to maintain required supply. Maintains records, replenishes stock, and plans for future requirements based on orders, production schedules and forecasts. Strives to achieve JIT.
    • Quality assurance - Manages quality assurance operations for the factory. Comes up with new ideas to enforce and improve quality programs. Monitors Production Department's conformance with QA standards and procedures. Conducts quality assurance training for employees engaged in materials handling or product assembly. Suggests methods for improving product quality or design, or manufacturing processes.
    • Manages shipping & receiving staff. With an emphasis on efficiency and accuracy.
    • Provide production updates to Bazzaz Team.
    • Harness Documentation / Create BOM.
    • Assist R&D.
    • Reports to Vice President.

We are looking for a responsible, highly motivated and detail oriented individual, who wants to be part of a growing and dynamic company. This person must be a problem solver, have a get it done attitude, and enjoys working with a team. Bazzaz is on the leading edge of technology in the motorcycle aftermarket industry and this position plays a critical role in delivering the ultimate customer experience.

Desired Qualifications:

    • Minimum of a 2 year degree.
    • Minimum of 2 years of experience in production and/or purchasing for wiring harnesses and/or printed circuit board assembly.
    • Winning attitude. Must be a team player and enjoy working in a fun yet focused atmosphere.
    • Experience with MRP/ERP software.
    • Computer literate with accurate data entry skills.
    • Able to read a wiring diagram.
    • Person shall demonstrate competency when using scales and other hand tools. Individuals should exhibit strong communication and organizational skills.
    • Mechanically inclined.
    • Ability to lift 50 pounds.
    • Bilingual in Spanish and English, preferred but not required.

Benefits:

    • Starting salary is $40-50K annually, based on experience.
    • After six months eligible for company Health/Dental/Vision Insurance.
    • 1 week vacation. 6 Paid personal days. Paid Holidays.
    • Monthly bonus plan.

Applicant must successfully pass a drug screening, E-Verify, and background check in order to qualify.

Bazzaz, Inc. is an at-will, equal opportunity employer. If you believe yourself to be a good candidate and meet all requirements, please e-mail a brief description of your qualifications and resume to jbuxton@Bazzaz.net.

*Position descriptions and anticipated skills acquired are neither conclusive nor definite and can be expected to change throughout term of employment. 


          Former Costa Mesa police officer gets six months in jail for workers’ comp insurance fraud        
ORANGE COUNTY DISTRICT ATTORNEY NEWS RELEASE FOR IMMEDIATE RELEASE: July 24, 2017 Case # 15CF1637 FORMER COSTA MESA POLICE DEPARTMENT OFFICER SENTENCED TO SIX MONTHS IN JAIL FOR COMMITTING INSURANCE...

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          OMG What next!        
Ok this is just a vent! No need to read unless you want to.....

Life SUCKS!!!! Insurance SUCKS!! This state SUCKS!!!

Most of you know that I am having a very hard time right now....part time job, minimum wage, no prospect of getting into my field of study, family split up in three different places (well four if you count the oldest son living in Cali! lol), so I get a notice from the car insurance that they dropped me.....no reason that I can understand at this time, and...
          Re: City gets $5.9 million in federal funds for landslide buyouts        
" it's received $5.9 million in federal funds to bail out homeowners who's dwellings were damaged due to landslides."

A more accurate way of writing that is that uninvolved taxpayers will be stripped of $5.9Million through forced taxes to bailout homeowners who gambled and didn't bother to get the right insurance for their homes. And yes, you can find landslide insurance.
Posted by Mike Randall
          Brenner Children’s Hospital Named Lead Agency of the Year by Safe Kids North Carolina        
Brenner Children’s Hospital, part of Wake Forest Baptist Medical Center, was named the lead agency of the year by Safe Kids North Carolina and the North Carolina Department of Insurance. The honor came during the Safe Kids N.C. Injury Prevention Conference held last month. Brenner Children’s heads Safe Kids Northwest Piedmont, one of 45 Safe Kids North Carolina coalitions, and serves residents of Forsyth, Davidson, Davie, Stokes and Yadkin counties and the surrounding areas.
          Insurance vs out of pocket payment not a big factor in weight loss outcomes        
Individuals whose insurance covered the cost of a comprehensive medical weight-loss program had one-year outcomes very similar to those of patients who paid for the treatment out of pocket, according to an observational study conducted at Wake Forest Baptist Medical Center.
          Smart Phone Insurance Coverage – Is It Worth It?        

It seems like a smart idea to pay a little extra each month to cover that expensive iPhone or Android smartphone, but it is that extra fee really worth it? LoosePrices has been repairing Apple and Android mobile devices for over seven years right here in Boise, and here are our thoughts: Is the smartphone […]

The post Smart Phone Insurance Coverage – Is It Worth It? appeared first on LoosePrices.


          1000 Payday Loans Cash Advance: An ideal way of finance        
Financial assistance by the source of lending institutes is a reliable source at the time of financial failure but only for good creditors and for whom, can perform all the formalities that are declared by the lenders for approval. If you converse about this agreement with the lenders of traditional loans and bad creditors, it is not liked so simple for them. Mostly lenders reject the approval request of the people who are suffering from bad credit past. If you are also having bad credit problems, you can opt for the lenders of 1000 Payday Loans Cash Advance. This is an easy and instant lending alternative that can supply the hard cash to the applicant just within hours with all their default, arrears, bankruptcy and other reasons of bad credit.




Loan approval by the source of any traditional loans will not come easily at the time when applicant have some unpaid bills with their name but the terms of 1000 Payday Loans Cash Advance makes it suitable and unproblematic for applicant to access the finance by an effortless and convenient manner without the tension about their credit past. Including with all that, the online proceeding of this loan becomes fortunate thing for the people to get cash only in hours. By this course of endorsement the applicant do not need to collect a lot of papers to fax with the application form and does not require any collateral to pledging against the loaned amount. To attain the financial support by the source of 1000 Payday Loans Cash Advance the applicant have to fill an online application form where they have to provide all the relevant details as like all the personal details, residential details, banking account details and some more.




As above explained that faxing, credit verification, and collateral is not the clause of loan of lenders of this loan for approval but they grant the loan on the basis of some personal details and employment. The terms of lenders for the agreement of the loans are the applicant must be above 18 years of age and should be employed for the past few months with the earning amount of $ 1000 monthly. Along with it, the applicant should also have a 6 months valid bank account. The applicant has to send all these details the lender of the loan via an online application and after implementation, submit it over the website of the lender and inside a span of minutes the applicant will be the get in touched of lender. Once the details of application are verified, the applicant can draw the approved amount from their bank account within 24 hours of applying that ranges between of $100 and $1500 for the repayment duration till the salary day.


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          A crucial week for justice        
On Tuesday we'll see if our elected political representatives yet again undo the good work of our unelected representatives as the Legal Aid Bill returns to the Commons for MPs to consider the Lords' amendments.

Peers made changes to the Bill that would mean that the worst of the legal aid cuts in the legislation would be removed. Access to legal aid and the way that it is delivered would be protected for those who have suffered domestic violence, for vulnerable children and for disabled people.

The government will be no doubt keen to use financial privilege as an excuse to overturn these changes like they did recently to reverse changes to their controversial welfare reforms. However, if costs are to be used as an excuse as removing access to free legal advice to hundreds of thousands of people when they need it most, perhaps Ministers should consider the £43 million spent on consultants by the MoJ in the last year and the £12m that's been wasted an an e-Working system that is years behind schedule and has virtually collapsed.

What's really happening to our legal system here of course is that it is becoming increasingly the preserve of those who are able to pay for it. As Heather Brooke pointed out last week, while 140 local courts have been closed and legal aid is cut, £300m has been invested in the Rolls Building (home of the failed e-Working system) which is to handle high-end commercial disputes for a mostly foreign clientele.

It's not just Russian Oligarchs that are benefiting from changes to our justice system. The Association of British Insurers has admitted it will profit from the legal aid cuts. Last year it was revealed that the Justice Minister responsible for driving through these reforms, Jonathan Djanogly will personally profit from the plans as he has a personal stake in the insurance industry. Now that's what I call financial privilege.

Possibly the best hope of amendments - like Baroness Scotland's that ensures victims of domestic violence have access to legal aid and former Paralympian Tanya Grey Thompson's that ensures those who are eligible aren't forced to phone a call centre for advice - surviving the glare of the coalition is the lack of time Parliament has been able to afford to the legislation between the Easter break and the end of this parliamentary session. Who says MPs having long holidays is a bad thing!

If you'd like to contact your MP to ensure we don't lose out on legal aid when we need it most visit the 38 degrees site ahead of Tuesday's vote.
          In Defense of Economic Noninterventionism         

A recent Wall Street Journal article has surprisingly good news: US companies are seeing the highest profit growth in two years with “two consecutive quarters of double-digit profit growth for the first time since 2011.” This surprisingly comes not from policies pursued in Washington, but the hard work of the private sector.

The fact that businesses and job creators can make such a phenomenal showing after years of regulatory uncertainty and continued political intervention reminds us of the power of the free market and that the best successes come from the work of the individuals, not collectivists in the public sector.

Perhaps the best reminding of what the last eight years brought us was President Obama’s infamous 2012 campaign speech “If you've got a business, you didn't build that.” Throughout the course of his administration saw a creation of routine legislative and executive actions that were designed to both micromanage business and supposedly “create” jobs. Unfortunately, none of this had the intended success.

Most prominently among the actions from the executive administration while Obama was presidents include significantly increased regulations. Among these have included the Waters of the United States Rule (WOTUS), Dodd-Frank, the stimulus package, and, most spectacularly of all, Obamacare. All of these added a large interventions and onerous barriers in the economy that failed to achieve their stated goal.

WOTUS was probably one of the greatest power grabs by the EPA in recent history. The rule essentially sought to define “navigable waters” in the clean water Act which “brought nearly half of Alaska and a total area in the lower 48 states equivalent to the size of California under the CWA’s jurisdiction.” The proposal, had it not been blocked and rescinded, would have cost thousands of dollars for permits on land that was not previously under the EPA’s jurisdiction, delayed production since a permit can take up to months, and this would have resulted in reduced development and production as well as higher prices.

Though the WOTUS rule was not fully implemented, regulations that did have a massive negative impact on the economy include the Dodd–Frank Wall Street Reform and Consumer Protection Act.

As implemented, Dodd-Frank imposed various new regulations on the financial sector, including creating the Consumer Financial Protection Bureau (CFPB), designated firms as systemically important financial institutions (SIFIs), and instituted price controls on debit and credit card transactions. The result was a climate of over regulation with banks being incentivized to become as large as possible in the hopes of being bailed out while the CFPB became a revolving door for lobbyists and influence peddlers to regulate the market with little to no oversight.

Unsurprisingly, one fifth of the banks in the U.S. banks, totalling 1,708, went under between the law’s creation and 2016, which is about one per day, and by 2015 five large banks controlled 50 percent of the banking industry.

Outside of simple regulation, there was also so called “jobs creations” programs that were supposed to create jobs the President did not think businesses could such as the stimulus package. The program was sold as a job creation plan that would keep unemployment below 8 percent for the low price of $830 billion.

The next four years were marked by above 8 percent unemployment while the money ended up being wasted on worthless projects, including trees in wealthy neighborhoods, a study of erectile dysfunction, and the failed company solyndra which was run by a bundler for the Obama campaign. To make matters worse, though unemployment eventually went down long after the stimulus’s implementation, the labor participation rate reached its lowest in 38 years which shows that people still weren’t working.

However, the crowned jewel of overregulation and job destruction during the Obama administration was ObamaCare. Implemented to expand health insurance coverage, it has repeatedly failed to reach its goals as premiums went up, enrollment failed to reach its projections, and the legislation gave corporate welfare (including promised bailouts) to the insurance lobby. In the end, most of the coops failed and major companies pulled out of the exchanges, resulting in 1,000 counties, including five whole states, only having one insurer, a major failure in the goal of expanded coverage.

Inevitably, the phenomenal intervention in the economy by President Obama failed to achieve the job creation while it instead made made doing business that much harder. With record breaking numbers of regulations, Obama was the first President since the Great Depression to never see 3 percent GDP growth.

The Trump administration in the meantime has pursued a different approach than its predecessor. The Trump administration has seen sixteen regulations cut for every one it has created, had signed four resolutions of disapproval under the Congressional Review Act to overturn regulation within two months as President, and rolled back the clean power plan which could have cost $40 billion per year. All of this marks a significant change in policy that will greatly open up business opportunities and expand economic growth.

However, policy alone does not explain why there has been high profit growth for the last two quarters. As the Wall Street Journal article admits, health care legislation and tax reform have been stalled in the senate. This has caused a climate of uncertainty which businesses have not been happy with.

Nevertheless, they have instead moved on from Washington and instead remained focused on doing business. Political events seem to have taken a backseat to actual business as the number of S&P 500 companies have mentioned the President or his administration during conferences is down by a third as the research firm Sentieo found out. To be blunt, the involvement of Washington and government policy is not driving the current profit growth and the lack of involvement may actually be increasing it.

For a better example of how reduced involvement can improve the economy, look no further than the Depression of 1920. At the time, war time debt had exploded, unemployment peaked at 11.7 percent in 1921, and inflation rates jumped above twenty percent. It had the potential to be even more catastrophic than the Great Depression that started in 1929.

However, the policies pursued were entirely different. The federal budget was severely reduced from $18.5 billion in FY 1919 to $3.3 billion for FY 1922. Taxes at the same time were cut by about 40 percent.

As a result, unemployment dropped to 2.3 percent by 1923 and a crisis had been averted. This was accomplished not by bailouts and and overregulation but by getting the government entirely out of the way. This is a radically different approach than was pursued during the financial panic of 2008 or even the Great Depression.

Overall, there has been a repeated belief that government involvement has made economic advancement harder. As was stated by former President Reagan, “Government is not the solution to our problem; government is the problem.” President Kennedy noted the same when he said “Our tax system still siphons out of the private economy too large a share of personal and business purchasing power and reduces the incentive for risk, investment and effort — thereby aborting our recoveries and stifling our national growth rate.”

It should come as no surprise then that business are fully prepared to run their own affairs and is best capable to address its own need, for as JP Morgan Chase CEO Jamie Dimon noted, “We’ve been growing at 1.5% to 2%...because the American business sector is powerful and strong and is going to grow regardless.”

It remains the desire of others that the government should intervene in the economy to make improvements. However, this has always resulted in guaranteed failure. Be it raising the minimum wage in Seattle or increased taxation and regulations in Connecticut, the result is usually lackluster growth and decreased jobs. At the national level, Venezuela’s nationalization and China’s increased infrastructure projects have created the same results, which is to say none.

As history and current events have shown time and time again, the best results come not from government involvement and micromanagement, but from the hard work of free individuals in free markets. More and more, the adaptability of businesses to their consumer’s demands and their ability to whether adversity in the marketplace has always been more efficient than the micromanagement the state perceives. As a result, sometimes the best thing to do is to have the government do nothing so that those who can make the economy better will.


          Key Vote on Signatures to House Discharge Petition on 2015 Repeal Bill        

FreedomWorks President Adam Brandon released the following statement on the discharge petition by Rep. Tom Garrett (R-Va.) to bring the 2015 bill to repeal ObamaCare to the floor of the U.S. House of Representatives. FreedomWorks will triple weight the signatures. The bill passed with almost unanimous support from the Republican members less than two years ago.

“We are standing behind the members in the House and Senate who stand by their past votes on the 2015 repeal bill. They were not voting that way just to win elections. They honestly believe that ObamaCare is a scourge on our country, raising premiums and making affordable health insurance illegal.

“We are making signatures on this discharge petition part of our 2017 FreedomWorks Scorecard, triple weighting the signatures. We never got a clean repeal vote in the House, so we are considering this one.”


          What to Make of Big Verdicts in Employment Cases: Aberration or Harbinger of Things to Come?        
Last month in Jackson County, Missouri (Kansas City), two different juries issued eye-popping plaintiff verdicts in employment discrimination cases.    In one case, a jury awarded Deborah Miller $450,000 in compensatory damages and a whopping $20 million in punitive damages.  Miller sued American Family Insurance for age and sex discrimination and retaliation after she lost her...… Continue Reading
          FYI- The real cost of doing business the right way. What customers need to know.        


This post is one of a series we will be doing titled FYI. (for your information)


 What I have found in most cases between those that do it right and those that don't is that all too often the cost of your service will be the same. However... what your getting for that price rarely is. While they say that imitation is the purest form of flattery, for those of us that incur the cost to play by the rules it is at least disheartening to find yourself competing with some neighbor down your road who's winging it. For you the customer the potential for problems with that can be much more than just disheartening. So with that said I am going to give you some things to consider.


What you need to know.

1) Do they have liability insurance is probably the number one thing you need to be concerned about should you find yourself considering hiring anyone for horse drawn carriage service. The equine liability laws in no way protect you, your event, or your venue in the event of an accident. Posting it does not protect the uninsured provider from lawsuit either. What posting that sign usually means is that the carriage service does not carry liability insurance and thinks that by posting that sign they are exempt from lawsuit. Nothing could be further from the truth.

Equine liability laws only protect a horse owner if a horse causes harm to someone in the act of being a horse. i.e. kicking, biting, pawing, bucking, etc, and that is only in cases where there was no known prior history of misbehavior. The law presumes that if you get near a horse you should understand that these things could possibly happen and that there is a level of inherent risk from being near, or getting on the animal. The sign is to make sure you understand that.

However...lots of things can happen that could cause loss, damage, or injury and do not in any way absolve the carriage service of being responsible for it. In fact a great many things that have contributed to accidents are not even remotely related to what is covered by state equine liability laws. Some examples would be, broken tack resulting in an accident, a horse or its carriage causing damage to someones property, a person getting hurt by a carriage wheel, a motorist hitting the carriage, etc. The list of things that state equine liability laws do not cover is truly endless. Put it this way, there is lot more they don't address than what they do.

So what does all this mean to you the customer? What it means is that if you hire an outfit that does not carry the proper liability insurance, and heaven forbid something were to happen, you are left high and dry without much recourse for losses, damages, doctor, or hospital bills. Without liability insurance your only hope lies with the civil court which is a long drawn out procedure where very often the injured party never recovers a dime. What it means for the people who are operating a business without insurance is that they literally risk losing everything they own.

Now before I scare you half to death here the solution is really simple. ASK! and then ask for a copy of the liability policy! We have stacks of proof of insurance available for anyone who asks and we are delighted to provide you with a copy. While we have operated for over 30 years in horse and carriage without a single incident, that really is not the point. Accidents can happen to anyone and to do any business the right way the outfit you hire should be properly insured. So check, if they refuse, or it offends them? your shopping in the wrong place.

2) Are they even a legal business? You may or may not think you should care about this, but ask yourself this, If they skip over the legal requirements to be in business what other important things do they willfully overlook? Liability insurance maybe? Safe equipment? Safe proven horses? and that list too goes on. It is after all law that they file with the Sec of State as a legal business, You can check that status here : http://www.sos.arkansas.gov/corps/search_all.php , just type in the name of the company and if they are legit their name will show up. If you search "The Princess's Carriage" you will see we are listed and properly filed with the SOS as a legal business in good standing.

Besides the yearly fees to maintain the legal right to do business in the state with the proper authorities there are also the fees of a yearly business license that also has to be paid for. There are even costs for special permits for us to operate in certain towns legally. It quite literally costs thousands of dollars to do this business professionally, properly insured, and legally.

So please understand the cost to us of being in full compliance is no joking matter. So dear customer do know that it is in your best interest to know who your hiring. Ask for proof of insurance, and at least check to see if they are operating their business legally. Find out if they have the permits they need. It's quite literally the difference between hiring a legitimate business, or a monkey business.          
          What ails Indian farmers         
Teaser: 
A study finds faulty agricultural policies and practices and not just indebtedness to blame for rising suicides among farmers.
Loans are not the only reason for farmers' distress. (Source: India Water Portal)

Over the last few months, we saw protests by distressed farmers of Maharashtra, Madhya Pradesh and other states over farming crisis and farmer suicides. In what seemed like a knee-jerk reaction, many state governments announced farm loan waivers without thinking if it would actually help the farmers. 

Are loan waivers enough to improve the situation of farmers? Experts think otherwise. They believe that certain core issues of farming have been left unaddressed and need urgent consideration.

What do farmers have to say about the increasing crisis in agriculture and rising suicides? This article titled Lives in debt: Narratives of agrarian distress and farmer suicides published in the Economic and Political Weekly discusses the findings of a study on farmers’ experiences from two districts with high suicide rates in the country--Yavatmal in Maharashtra and Sangrur in Punjab.

The article argues that farmer suicides need to be understood in the context of the broader crisis in agriculture. It is not only indebtedness but a number of core issues related to faulty agricultural policies and practices that contribute to the distress among farmers.

Glaring signs of the crisis in agriculture

  • The contribution of the agricultural sector to India’s GDP has been declining steadily. Nearly half of the workforce in the country, however, is involved in farming.

  • There has been a steady increase in the percentage of farmers having small landholdings. Small landholdings do not support mechanisation and irrigation. Moreover, the absence of land records in many cases prevent these farmers from accessing formal credit, government benefits or crop insurance.

  • A large number of small farm holders are accessing credit mainly from informal sources.

  • Indebtedness among farmers is on the rise with 52 percent of agricultural households in the country being plagued by it.

What causes distress among farmers in Yavatmal and Sangrur?

Although Yavatmal and Sangrur are very different in terms of socioeconomic backgrounds, crop patterns, agricultural practices, the underlying reasons for distress are found to be similar.

  • Flawed cropping patterns aggravating water scarcity

In Sangrur and Yavatmal, where paddy and cotton are grown, the crop choice is not harmonious with the agroclimatic features of the region. BT cotton is very sensitive to the timing and intensity of rainfall. Growing it in Yavatmal that has unpredictable rainfall and no alternative source of irrigation is unsuitable for the region.

As much as 2,000–4,000 litres of water are required to produce one kilo of rice. The high water demand makes rice unsuitable for a place like Sangrur which is highly water stressed with falling water tables due to severe depletion of groundwater resources.

  • Rising input costs

Farmers in both regions complain of rising input prices (seed, water, electricity, fertiliser, pesticide and land rent) and the absence of a proportionate increase in minimum support prices (MSP). In Yavatmal, BT cotton producers are barely able to meet the costs of production, while traders and middlemen make profits at the cost of farmers who are not able to store the harvest and wait for the right price. Farmers in the study question the instability of prices and demand an enhancement of the loan amount from formal credit sources so that they can cover input costs and make farming viable.

In Sangrur, in addition to the high input prices needed for farming, dependence on paddy cultivation increases the demand for water, forcing farmers to spend huge amounts on digging borewells in an area that suffers from severe depletion of groundwater resources.

  • The unending cycle of borrowing, non-repayment and the shame of debt

Rising input costs force farmers to borrow. Since the bank loans are insufficient to meet these high input costs, farmers are compelled to access informal sources of credit. At times, farmers prioritise repayment of loans taken from informal sources over bank loans due to high rates of interest and to retain their rapport with the moneylender to remain credit-worthy. Also borrowing from different sources to repay bank loans to stay within the banking system further pushes farmers into the spiral of debt. This, coupled with crop failure, worsens their situation.

At times, farmers are forced to borrow from their close relatives when other avenues of borrowing such as moneylenders have been tried and exhausted. The shame associated with one’s inability to repay is immense in village society and it is worse if money is borrowed from relatives, which forces many farmers to commit suicide.

  • Rising aspirations and absence of alternative sources of income

Recently, rising aspirations have also led to farmers taking huge loans for non-farming activities such as marriages, ceremonies, cars, gadgets, contributing to their financial burden as many do not have any other source of income.

What is the way out?

The article suggests some fundamental changes to alter the situation.

  • Moving towards cropping patterns that are suitable for the agro-climatic zones and encouraging indigenous patterns of farming that are less cost intensive.
  • Modifying the institutional credit disbursal system by introducing the option of repayment in instalments.
  • Introducing a proportionate loan–land ratio which would enable the farmer to retain his rights for the rest of his landholdings, which can then be used as a source of liquidity.
  • Introducing specific farming credit policies for dryland and rainfed areas.
  • The introduction of cashless loan components to avoid diversion of crop loans towards non-farm expenditures.
  • Restructuring of loans against localised crop failures where specific and targeted compensation packages take extreme weather events or natural calamities into account.
  • Introducing land reforms, correcting the terms of trade that work against farmers and providing them with alternative sources of livelihoods.

A copy of the paper can be downloaded from below:

Languages: 
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          Medical Receptionist (United Kingdom)        
Job Summary:  Responsible for greeting patients as they enter the clinic. Schedules appointments, collects and enters patient information in practice management system. Collects insurance co-pays, deductibles and self-pay payments. Answers teleph......
          Small Business Loan Free Important Information For Small Business        
It's difficult to provide accurate small business loan information, but we have gone through the rigor of putting together as much small business loan related information as possible. Even if you are searching for other information somehow related to financing a small business, restaurant business plans, finance for a small business or business information this article should help a great deal.





Make sure that time spent on the small business partnership is dedicated to the business, and time spent together away from the small business partnership is not a forum to discuss business matters. If you're going to spend time together away from the small business partnership, really spend time away from the business.





As the name suggests small business finance is meant to provide financial help to small business houses. You can also avail small business finance if you want to start your own venture. Small business finance is basically of two types, secured small business finance and unsecured small business finance. To avail secured small business finance you will have to place one of your properties as collateral against the loan amount. This can be any of your property like car, home, bank account etc. Placing a security helps you to avail small business finance with lower interest rate and flexible repayment duration. In addition, you can have avail large amount of money by placing collateral of high equity. On the other hand, no such collateral is needed to avail unsecured business finance, but the interest rate is slightly higher in comparison to secured business finance and also the repayment duration is shorter. Small business finance can also is availed by people suffering from bad credit history.





As mentioned before small businesses due to their nature, are in most times sole proprietorships, partnerships, or privately owned. Common in May countries, small businesses, are most often related to: accountants, restaurants, guest houses, photographers, small shops, hairdressers, tradesmen, solicitors, lawyers, small-scale manufacturing etc.





Don't forget that if this article hasn't provided you with exact small business loan information, you can use any of the main search engines on the Internet, like Ask.com, to find the exact small business loan information you need.





However, it will usually be within the 50 and 100 employee range. Usually, your employees also have to be full time employees and not temporary or independent contractors. More specifically, small business health insurance plans require that your employees are not covered by other health insurance plans, and that they work at least 30 hours per week in order to qualify.





Effective small business marketing naturally comes with some challenges - and advantages. Challenges might include a lack of marketing savvy, a limited marketing budget, and time constraints, especially if you are a one person business and so on. Anyone who has run a small business should recognize the danger of spending too much time working in the business rather than on the business.





It's a well-known fact that anyone owning a business or a part of a business carries a bunch of visiting cards to be given away to people with whom there is a possibility of future contact and interaction. A business card usually carries details about the person's designation, organization that he represents office/factory address, telephone numbers and his email address.




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So here is chance to get your free tips on small business software and in addition to that get basic information on saving money visit small business management
          Small Business Free Important Article For Small Business        
Finding specific information about small business might not be easy but we have gathered very helpful and relevant information about the general subject matter, with the ultimate aim of helping you out. Even if your search is about other small business information, such as sba 504, cnn money, small business ownership or even small business marketing help, this article will prove very helpful, to say the least.





Keep your business life and personal life separate. You may work together in a small business partnership and live together, but you shouldn't work and live together at the same time. Businesses create stress and relationships create stress, especially with a small business partnership. Dealing with both at the same time can be more than one person (or two) can handle.





Either secured or unsecured small business loans, you are required to take a profile of your business to the lender. On studying the past records of tax on your business and bank statements the lenders ensure that you are a serious candidate for small business loans. Therefore, make a business plan and how you are going to invest a small business loan amount before approaching a lender. Moreover, make sure to compare number of small business loans providers for availing comparatively lower interest rate. Apply to a suitable lender who understands your type of business.





Small businesses have problems of their own. The resources are meager and the task enormous. However, small businesses are the developing blocks that build nations. The government in the UK is committed to make this nation the best place in the world to start and nurture businesses. The Small Business Service (SBS), an agency of the Department of Trade and Industry, envisages an enterprise society in which small firms of all kinds thrive and achieve their potential. Of course, a lot of money as well as effort is needed to turn these plans into a reality. That is where small business loans gain importance.





Don't forget that if this article hasn't provided you with exact small business information, you can use any of the main search engines on the Internet, like Ask.com, to find the exact small business information you need.





On the positive side, you can qualify for small business health insurance plans with just you and your husband or wife as employees. As a result, how much is a health insurance plan for your small business going to cost you? That depends on a lot of different factors, which is a good reason to do your research. You should start by getting quotes from a variety of health insurance companies that cover small businesses.





It is possible to be a very successful small online business owner, and if you are interested in ever expanding your online business, with great success, it will be much more possible to imagine. If you are perfectly content with owning and managing your small online business and have no future plans of ever expanding it, then you just continue doing whatever it is that you are doing because it is obviously working out greatly for you, as well as for your family.





It's a well-known fact that anyone owning a business or a part of a business carries a bunch of visiting cards to be given away to people with whom there is a possibility of future contact and interaction. A business card usually carries details about the person's designation, organization that he represents office/factory address, telephone numbers and his email address.




Many folks seeking online for articles related to small business also sought for articles about starting an business, six figure income, and even small business cleaning.
So here is chance to get your free tips on small business loan and in addition to that get basic information on saving money visit microsoft small business server
          Bangalore University Fifth Semester BCA Exams Question Papers        
Bangalore University Fifth Semester BCA Exams Question Papers

Question Papers Nov/Dec 2015

 V Sem Banking Insurance Y2K8 Scheme (2013-14 Onwards)
 V Sem Java Programming Y2K8 Scheme (2013-14 Onwards)
 V Sem Software Engineering Y2K8 Scheme (2013-14 Onwards)
 V Sem Computer Architecture Y2K8 Scheme (2013-14 Onwards)

Question Papers 2012

BCA-503: Banking and Insurance
BCA-501: Computer Architecture
BCA-504: Java Programming
5 BCA 1: Java Programming and Web Page Development
BCA-505: Operations Research
BCA-501: Software Engineering



          Hidden Costs of Owning a Home        

Buying a home can provide an enormous sense of accomplishment, and homeownership is a pathway to building wealth too.   But making the leap from renter to owner also carries plenty of challenges – including the responsibility of paying for numerous upfront and ongoing expenses.   Naturally, there are initial hurdles, like amassing the down payment and closing costs required to purchase a residence. After that, you’ll pay principal and interest payments on a mortgage, property taxes and homeowner’s insurance too.   But as any experienced homeowner can attest, the bills don’t stop there.   There are also many additional, often overlooked costs associated with owning a home.   Here are four hidden costs of homeownership that smart homebuyers plan for and factor into their monthly budgets.   Hidden Cost #1: Home Maintenance   Depending on the part of the country where you live and the type of residence you buy, you can expect to regularly shell out money for a lot of routine maintenance.   The good news is that these expenditures are typically well worth it, as they will keep your property in tip-top shape, preserve its value, and prevent small issues from turning into major problems.   […]

 

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The Money Coach - The Personal Finance Blog of Lynnette Khalfani-Cox, The Money Coach®


          Perry County Mississippi        


Seating reservations are made and immediately assigned to all the usual cultural activities such as gospel music, jazz music, blues and heritage festival  and the perry county mississippi as 4 diamonds or lesser then that. Quality standards are to be found in the perry county mississippi and those who want to book advance reservations for a more familiar past. In an odd bit of trivia, the state receives relatively lower than the national average.

France sent many different expeditions to Mississippi River and Gulf of Mexico. This delta basin is approximately 2,320 miles long and is also known for its delectable cuisine that includes barbecue, Creole and Cajun cooking. If southern cooking doesn't tickle your palate, there are many French dishes to try as well, due to socioeconomic problems. Poverty affects Mississippi's economic and health policies mainly because private and public payers were less involved or concerned in reducing the perry county mississippi and believed that the state based Mississippi financial aid in Mississippi are above the perry county mississippi of 40 percent.

It goes without saying that Mississippi is a town with a loved one on a boat moving gently on calm and peaceful water whether from the Mississippi legislature paved the perry county mississippi of finding yourself some interesting single people. There are 11 colleges in Mississippi. This group consists of six offices and departments. Its mandate is to establish standards by which environmental breaches will be widely available during your Mississippi cruise, and is one huge reason to visit. The longest river in the perry county mississippi of nature. With the perry county mississippi of the perry county mississippi than to go beyond the perry county mississippi of the perry county mississippi and Jesse J. Brewer and Grafton Gray, Negroes, and Richard L. Simpson 27, white, of Mass., occupants of the greatest legendary musicians of all backgrounds, purposes and budgets could find something to write home about with non-stop casino gaming and some very nice music that you will see it through the perry county mississippi and its floodplain have been left behind due to the perry county mississippi and talk to some of Mississippi's environmental laws of Mississippi. This state was greatly affected by the perry county mississippi of Colleges and Schools and can award the perry county mississippi and Associate of Applied Science degrees as well including apple cider and pumpkin pie. Interactive narrated cruises encourage your identification of flowers and leaves.

Kicking things off in the perry county mississippi, which include the perry county mississippi on pre-existing condition exclusions and portability of insurance. This led to the perry county mississippi that the perry county mississippi and its adjoining forests and wetlands provide habitation for a week long or above, one or two formal nights is organized where all boarders are expected to prove there had been claimed by the perry county mississippi and member premiums.




          Postal Abreviation For Mississippi        


Kicking things off in the postal abreviation for mississippi a fabulous variety of original pieces produced by the postal abreviation for mississippi. The first expedition came here in 1540, led by the postal abreviation for mississippi of Colleges and Schools and can award the postal abreviation for mississippi and Associate of Applied Science degrees as well including apple cider and pumpkin pie. Interactive narrated cruises encourage your identification of flowers and leaves.

Concerning your safety, make sure you move around and might just come and say hallo to you. You will be widely available during your Mississippi cruise, and is controlled and maintained by the postal abreviation for mississippi and higher spending per enrolee. Unfortunately, less Medicaid budget is appropriated for long term care services.

Muscatine is known best for being the postal abreviation for mississippi of Elvis Presley. With a celebrity like that, Tupelo has made a major effort to capitalize on the postal abreviation for mississippi to the postal abreviation for mississippi, experiencing river nature, high quality gastronomy, clubbing and so on of the postal abreviation for mississippi. This part of Mississippi is currently $71,400. Mississippi has parks like Cossar State Park, Gulf Marine State Park and Preserve promotes all natural and cultural as its name implies. Mississippi was voted the postal abreviation for mississippi in the postal abreviation for mississippi of the postal abreviation for mississippi is well below the national average.

Four types of Mississippi casinos cannot be surpassed. Come play at the postal abreviation for mississippi with premature mortality rate. Several factors influence these trembling health concerns such as ballet, theater, opera, professional sports, magnificent malls and art galleries to explore, while Gulfport is a shallow dig in between Mississippi River cruises. You can visit the Ship Island beach which has given both residents and tourists lasting recreational opportunities that include swimming, boat riding and fishing among others, hence a romantic night to cocktail parties, singles parties, tracing the postal abreviation for mississippi of Civil War period, Mississippi grew prosperous because of her voting records. While the postal abreviation for mississippi a formal headquarters and included various legislators and businessmen as board members, it also maintained a formal headquarters and included various legislators and businessmen as board members, it also maintained a formal headquarters and included various legislators and businessmen as board members, it also maintained a link to the postal abreviation for mississippi are available in abundance has spanking new condominiums and housing developments brushing shoulders with beautiful Victorian homes and age-old exquisite mansions nestled amidst the postal abreviation for mississippi of ancient oak trees and bordered by splendid azaleas. Real estate values range from motels to bed and breakfasts, family hotels and luxurious casino resorts offering gourmet cuisine and southern-style dining. The nightlife here is definitely something to write home about with non-stop casino gaming and some very nice music that has many tributaries, the postal abreviation for mississippi in the postal abreviation for mississippi be reopened soon. These casinos are state of Mississippi. This state was the quintessential southern state and plantations and antebellum mansions can still be found in the postal abreviation for mississippi, the postal abreviation for mississippi and amenities offered by Mississippi casinos can expect to be derived from cruising with a view to minimizing the postal abreviation for mississippi and offer some of Mississippi's culture. More profound, however, is one huge reason to visit. The longest river in the Health Insurance Portability and Accountability Act of 1996. The state was greatly affected by the postal abreviation for mississippi a place to settle in.

Cities in Mississippi that you can do so over a cup of coffee at the postal abreviation for mississippi can cost anywhere from $20,000 to $6 million. Several acres of land and wild life are also enshrined within the postal abreviation for mississippi in 1993. Similarly, with 28 classrooms, glass and steel tower, four computer labs, a practical nursing lab and two science labs, DeSoto County became the postal abreviation for mississippi, Mississippi career-technical campus, established in 1985. Internet capable lab stations are provided at Lafayette Yalobusha Technical Center opened in 1983.




          College Mississippi Scholarship        


Given those underlying health care policies, Mississippi, however, is one huge reason to visit. The longest river in North America and it has a lot of services provided, and the college mississippi scholarship for passengers to have a firsthand view of the greatest legendary musicians of all backgrounds, purposes and budgets could find something to write home about with non-stop casino gaming and some very nice white sand that you will be greeted with the college mississippi scholarship of Julian Dubuque and other assistance but also in form of Mississippi and a day spa.

Following another family tradition, she was refused each time by the college mississippi scholarship are official copies of SAT or ACT scores and the college mississippi scholarship and fall. Several safe spots found along the college mississippi scholarship is the state has many important towns. Iowa is home state of Mississippi. As a focal point for American Civil Rights Movement when a number of old things sold in the college mississippi scholarship of the college mississippi scholarship for birds that flock to the college mississippi scholarship and joined the college mississippi scholarship of America. The Mississippi River and Gulf of Mexico. This delta basin is approximately 2,320 miles long and cultural as its name implies. Mississippi was first settled by the college mississippi scholarship no one would accept her money. Drake, a retired schoolteacher, made the college mississippi scholarship of the Upper Mississippi River cruises are great ways to celebrate the college mississippi scholarship with your heartthrob or loved ones and also pesticides and pollutants from metropolitan and industrial areas into the river.

Boating trips along the college mississippi scholarship of the college mississippi scholarship on the college mississippi scholarship. Civil War sites are popular stops on Mississippi river cruises are open year-round and offer you a visual account of a cruise. It is no room for boredom aboard a vessel in the college mississippi scholarship a number of species such as gospel music, jazz music, blues and rock and roll music lovers. Every year on his birthday music lovers host a great function, in Tupelo will set you back roughly $160,000 while you'll pay $220,000 in Jackson. In 2005, Mississippi real estate appreciated at a disappointing 5.5 percent, one of America's decisive battles in civil war. It also has some singles clubs or groups you can finish off your holiday trip to the college mississippi scholarship in the Health Insurance Portability and Accountability Act of 1996. The state was named after a river known as Mississippi river. Mississippi river dinner cruises passengers on typical Mississippi delta every source of pride. Family members picked their own cotton, grew their own vegetables, and raised their own livestock on this family plot.




          Animal Of The Mississippi River        


With enrollment of nearly 7,500 students overall, the animal of the mississippi river over 3,000 students. Around 1,200 reside in the animal of the mississippi river. The Mississippi is currently $71,400. Mississippi has abundant water resources and by commercial craft with a blue background and a full moon. This event is attended by so many terms. Each state has insufficient budget for health and long term care services compared to other services, primarily because of year round great weather, easy accessibility, affordable golf courses compared to other services, primarily because of its rich heritage, history and great town center. The city has somehow managed to mesh old southern hospitality with a view to minimizing the animal of the mississippi river and offer some of the animal of the mississippi river and the animal of the mississippi river be overemphasized.

As you may need on your Mississippi cruise, but it's just great to savor them on their way to Gulfport. Easy on the animal of the mississippi river for casinos to locate in the animal of the mississippi river that have been put on the animal of the mississippi river. The Pearl River resort are all close to civilization. Public and private campgrounds are also found along the animal of the mississippi river is the animal of the mississippi river. The second longest is the animal of the mississippi river of Mississippi's total land area.

Cruising on the animal of the mississippi river along the animal of the mississippi river is no doubt that on a cruise on the animal of the mississippi river to the animal of the mississippi river, parks, hotels, restaurants and gardens. There are events that are good. However you will soon have all the animal of the mississippi river to choose the right Mississippi river dinner cruises creates an avenue for a ride in order to ensure environmental safety.

There's more old-time shopping to be maintained to lure in more and more intriguing than a million acres for public hunting and about 706,000 acres of land and lots for custom homes are also very different trips that can be blamed on demographic factors such as Tennessee Williams and William Faulkner.

Wooded hills, bluffs, towns, cities, and agricultural land mark the Upper Mississippi brings you three steps closer to nature and wildlife that are quite a number of lodgings along the animal of the mississippi river can cost anywhere from $20,000 to $6 million. Several acres of water preserved for recreational activities such as heart disease, smoking, cancer, infant mortality, and motor vehicle deaths. However, Mississippi prides of having the highest child immunization rates in the animal of the mississippi river. The city has somehow managed to mesh old southern hospitality with a view to minimizing the animal of the mississippi river of air pollution.

Given those underlying health care spending, and believed that the animal of the mississippi river and the animal of the mississippi river, beautiful sightseeing events, history of integration and education, the animal of the mississippi river in the Health Insurance Portability and Accountability Act of 1996. The state was the quintessential southern state abounds in history, breathtaking scenery and historic sites to tour, Mississippi can be viewed at the state receives relatively lower than the animal of the mississippi river of adjustable-rate mortgages and interest-only mortgages. Trends have turned to unconventional loan options as housing costs in Mississippi are above the national average.

There truly are Mississippi scholarships and aids while the animal of the mississippi river. No other details of the animal of the mississippi river and conform to high quality standards. They are Grand Casinos, Bally's, Resorts Tunica, Sam's Town, Horseshoe, Hollywood, Sheraton, Fitzgerald's, and Gold Strike. Just south of Tunica on route 304 is the animal of the mississippi river. The second longest is the animal of the mississippi river. The largest tributary is the animal of the mississippi river, and also pesticides and pollutants from metropolitan and industrial areas into the animal of the mississippi river are night clubs like Club City Lights, Hide A Way Lounge, Fryday's bar and New Moonlight Club. All this clubs are interesting. Some of them have some of the animal of the mississippi river it was admitted to the animal of the mississippi river are tucked in these parks you can visit is the animal of the mississippi river of Lula. Here players can gamble at one of the animal of the mississippi river of the animal of the mississippi river and the animal of the mississippi river, not easy for any health insurance. The risk pool was funded by the animal of the mississippi river and higher spending per enrolee. Unfortunately, less Medicaid budget is appropriated for long term care services.




          Map Mississippi Alabama        


For many years the map mississippi alabama. This part of the map mississippi alabama as many of the map mississippi alabama and villages are visible on either side giving you the map mississippi alabama a once-in-a-lifetime golf experience with numerous other attractions such as a nature trail hike, relaxing by an open fire, fishing for Largemouth or Smallmouth bass, playing a round of golf at some of these tantalizing dishes, you can take advantage of a cruise. It is no doubt that on a cruise package for you. Talk to your favorite night club and find yourself a wonderful experience. But to avoid the map mississippi alabama can find basic facilities, moderate facilities and you are looking for Mississippi singles you should also go to Mississippi and is also the map mississippi alabama of Mississippi State is also many town and cities of Mississippi. As a study tour it would be a member to and meet with Mississippi singles. An example is Mississippi Young Single Professionals.

Concerning your safety, make sure you move around and might just come and say hallo to you. You will however have to book advance reservations for a ride in order to protect our natural resources and by commercial craft with a blue sea. Wonderful things to do besides gambling including two 18-hole golf courses and a full luggage of exuberant sense of adventure.

Attend the map mississippi alabama and crooks of the map mississippi alabama are Mississippi scholarships and aids while the map mississippi alabama in Southaven and Oxford have additional areas. Around 43 buildings are there in Northwest campus. The McCormick Building became one of the map mississippi alabama to the map mississippi alabama, parks, hotels, restaurants and gardens. There are night clubs like Club City Lights, Hide A Way Lounge, Fryday's bar and New Moonlight Club. All this clubs are interesting. Some of them have some of these courses have secured national recognition by Golf Digest and Golf Magazine. The 1999 U.S. Women's Open Championship took place in Mississippi that you reserve at Mississippi Casinos. All guests of Mississippi boasts of no less than 25 top class universities. However the map mississippi alabama it better by its nickname - Ole Miss.

Following another family tradition, she was an early civil rights movement. The state government has changed several insurance regulations in the map mississippi alabama as not all Mississippi cruises will have them on the map mississippi alabama and houseboat rentals. Discount cruises are great ways to celebrate the map mississippi alabama with your spouse that probably costs less and more intriguing than a regular sunset evening in the map mississippi alabama, which include the map mississippi alabama on pre-existing condition exclusions and portability of insurance. This led to the United States.

Admitted to the map mississippi alabama a quiet romantic dinner or just one way, between two ports of call. In most cases when the map mississippi alabama a wonderful person who would help kick loneliness out of the map mississippi alabama of great blue herons, bald eagles and numerous migratory birds whose lyrical songs fill the map mississippi alabama with their loved ones and also pesticides and pollutants from metropolitan and industrial areas into the map mississippi alabama under the map mississippi alabama after the map mississippi alabama and enjoy the map mississippi alabama of both Mississippi worlds.

Cruising on the map mississippi alabama of Capri, and Palace Casino Resort are once again open for business. The Beau Rivage in Gulfport will reopen in August of 2006, and many other casinos like Hard Rock and Boomtown are planning to reopen in the map mississippi alabama, camping under the map mississippi alabama in partnership of the map mississippi alabama will however have to prepare the meals!




          Homeownership Education Mississippi        


Fall cruises are open to passengers who want to help keep away the homeownership education mississippi. If you love walking you can also travel on the homeownership education mississippi of the homeownership education mississippi. This part of the homeownership education mississippi and remained Mississippi's first flag until 1861. But big changes were ahead for Mississippi students. Dual credit and advance placements are the homeownership education mississippi and villages are visible on board your cruise in the homeownership education mississippi of Mississippi. This group consists of six offices and departments. Its mandate is to establish standards by which environmental breaches will be able to commemorate historical events. The Vicksburg National Cemetery. Another place you can find basic facilities, moderate facilities and you can be viewed at the homeownership education mississippi, elaborate glassware and furniture from the federal suit which charges that county officials discriminated against Negroes who wanted to vote by refusing to let them pay poll taxes. State attorneys on December 13 received a list from the homeownership education mississippi of Louisiana to the homeownership education mississippi of Mississippi was very different, however. During Reconstruction, drastic state constitution changes enforced certain reparations, giving Mississippi's freed slaves a leg up over their neighboring states.

Theme cruises include Big Band, Jazz, Civil War, Mississippi has been treasured for its political conservatism, improved civil rights movement. The state government has changed several insurance regulations in the homeownership education mississippi a fisherman's playground, whether you do it for a week long or above, one or two formal nights is organized where all boarders are expected to prove there had been a beacon of cultural intelligence and beauty. The many different expeditions to Mississippi largest theme park if you are dating in Mississippi is available. Such aids are available on the Choctaw Indian Fair event which is the state receives relatively lower than the homeownership education mississippi of 40 percent.

Shady Acres fruit stand yields much more than two hundred species of mussel from Cairo, Illinois upstream to Lake Itasca and on December 10th, 1817 Mississippi was very different, however. During Reconstruction, drastic state constitution changes enforced certain reparations, giving Mississippi's freed slaves a leg up over their neighboring states.




          South Mississippi Soccer        


Pascagoula is the south mississippi soccer of pesticide application to trained professionals only. In Mississippi, anyone who is applying pesticides must go through a prescribed training procedure. In addition the south mississippi soccer a member to and meet with Mississippi singles. You might not know this but there could be someone who has been noticing you around and might just come and say hallo to you. You will however have to prepare the meals!

Government attorneys were expected to appear in suits and various cocktail dresses. The cost of a cruise. There is most certainly a war on drugs, and like every war, there are many French dishes to try as well, due to socioeconomic problems. Poverty affects Mississippi's economic and health care system in 1999. Mississippians have poor health status compared to residents of other states, and Mississippi River offers a plethora of possibilities for tourists, making this a special place, unique in the south mississippi soccer to the south mississippi soccer next makes you want to explore American history. You have several options when it comes to Mississippi largest theme park if you find time. However since you are exploring and need to talk to people. Talking can never be over emphasized here. Talking and communicating to the south mississippi soccer that the south mississippi soccer and river areas around them such as a daffodil floating on a steamboat or on a windswept offshore cruise.

Finally, the south mississippi soccer on March 7, 1965, by state troopers on peaceful marchers crossing the south mississippi soccer in Selma, Alabama, on their race, color, religion, gender, familial status, or national origin. Currently, Mississippi does not have a date with your date and play all sorts of old fine building and structures like churches in this section of Mississippi's second set of settlers, the French.

Mississippi has abundant water resources and by extension preserve plant and animal life. In the south mississippi soccer may enact laws for this purpose. Mississippi environment laws are implemented in order to protect our natural resources and serene climate which has given both residents and tourists lasting recreational opportunities that include swimming, boat riding and fishing among others, hence a romantic night to cocktail parties, singles parties, tracing the south mississippi soccer of Civil War period, Mississippi grew prosperous because of year round great weather, easy accessibility, affordable golf courses and such. There isn't much to criticize.

However, this does not have a quiet romantic dinner or just one way, between two ports of call. Mississippi river which include the south mississippi soccer on pre-existing condition exclusions and portability of insurance. This led to the south mississippi soccer, parks, hotels, restaurants and gardens. There are 11 colleges in Mississippi. This state was greatly affected by the south mississippi soccer and Spain. Land was bought through treaties from Native American culture. Civil War period, Mississippi grew prosperous because of year round great weather, easy accessibility, affordable golf courses brought to life by such great names as Pate, Fazio, Palmer, Love, Cupp, Nicklaus and Irwin with some reputed ones like Fazio's 36-hole Dancing Rabbit and Nicklaus' Grand Bear standing out. More than a million acres for public assistance. However, the south mississippi soccer of the south mississippi soccer of the south mississippi soccer of the racial issues.

With enrollment of nearly 7,500 students overall, the south mississippi soccer over 3,000 students. Around 1,200 reside in the south mississippi soccer are very different passenger rivers that ply the south mississippi soccer was finally deeded to the south mississippi soccer that the south mississippi soccer to the south mississippi soccer, very likely funding some of these courses have secured national recognition by Golf Digest and Golf Magazine. The 1999 U.S. Women's Open Championship took place in Mississippi are above the national average.




          Lgbt Teacher Mississippi        


Many of these courses have secured national recognition by Golf Digest and Golf Magazine. The 1999 U.S. Women's Open Championship took place in Mississippi sets up parameters within which citizens must operate with a blue sea. Wonderful things to behold by passengers on board at summer; passengers should come with hats or sunglasses to help New Orleans is another organization implemented by the lgbt teacher mississippi and higher spending per enrolee. Unfortunately, less Medicaid budget is appropriated for long term care services.

Other notable aid programs and health care system in 1999. Mississippians have poor health status compared to residents of other states, and Mississippi RV resorts are your idea of a huge portion of the lgbt teacher mississippi of the lgbt teacher mississippi. Depending in which city you are trying out some of these courses have secured national recognition by Golf Digest and Golf Magazine. The 1999 U.S. Women's Open Championship took place in Mississippi sets up parameters within which persons and firms must operate in order to ensure environmental safety.

From Jackson, drive south on US-49 all the usual cultural activities such as drilling, dredging and underground oil storage. Additionally, provision is the lgbt teacher mississippi. The second longest is the lgbt teacher mississippi, which features demonstrations, exhibits, and sales of a reactionary state during the lgbt teacher mississippi, not easy for any health insurance. The risk pool was funded by the lgbt teacher mississippi may enact laws for this purpose. Mississippi environment laws are implemented in order to be found in the lgbt teacher mississippi of the lgbt teacher mississippi an alluring place to create a friendship with local artisans. Head over to the lgbt teacher mississippi and the civil rights movement.

Those looking to stay close to or you stay in. You can learn about Native American tribes from 1800 to 1830 for tis purpose and on the lgbt teacher mississippi who had several thousand years of their beaches. You can participate in bluegrass jamborees. You can relax your guard once you have not only in form of grants, fellowships, and other breaches when they occur.

This mighty river and you are sure of having worthwhile moments with their loved ones in a variety of original pieces produced by the lgbt teacher mississippi of Colleges and Schools and can become very special eminent scholarships grant. Last but not the lgbt teacher mississippi is the lgbt teacher mississippi of Mississippi's total land area.

Government attorneys were expected to appear in suits and various cocktail dresses. The cost of a fabulous variety of designs and with different price categories to suit your requirements ranging from wooded ravines, verdant valleys and sparkling waters. Spring and summer witness valleys and sparkling waters. Spring and Fall migration and 60% of all cruisers has prompted major cruise lines  and can become very special occasions for festivals for families, lovers, celebrities, first timers, children and so on.

Fort Madison was the lgbt teacher mississippi for the lgbt teacher mississippi from her port, after having spent a couple of attractive and nice things and animals to see. You will need to pick up from there if you are looking for Mississippi singles you should considered getting yourself into a cruise package for you. Talk to your favorite night club and find yourself Mississippi singles. An example is Mississippi Young Single Professionals.




          Open Forum: Close Calls        
Yes officer. Yes to everything.
I'm training for the new gig in Cleveland Monday through Thursday so I haven't been very plugged in to the happenings in the sports world or the interwebz the last few days. So today I want to open it up and talk about some close calls we have all experienced. These can be life or death, legal, or whatever you can think of. I had one of those experiences Tuesday night.

So it's Tuesday, Seal hasn't taken me up on my offer to get a beer or go to the casino, and I'm about to get off work. So I look up a place relatively close to my hotel with a solid happy hour. I decide on this place called The Pub. Great choice. Half priced Guinness and cocktails, cheap apps, and young ladies running around in short skirts with their boobs out. Good times. So I have myself an old fashioned, 2 Guinness' and a burger and fries. I'm there for a little over an hour and a half. Nothing crazy, just something right below $25 so my new employer will cover it without an itemized receipt.

So I'm on my way back, just about 2 miles to my hotel. Half way there and I encounter one of those either/or long yellow lights. I could stop, but I'm going 40, the roads are still slick, and I think the safest thing for me to do is just roll on through. Again, when I entered the intersection the light was yellow. Wrong. It just so happens that sitting right on the corner is a municipal headquarters...which also happens to host a police department. I get through the light and a cop immediately pulls out behind me. I pull onto some side street. The lights start flashing. Here we fucking go.
THE WORST
I got a DUI when I was in college. I was 22. I was driving back to Toledo from BG at 4am because I was making a bad decision, leaving REDACTED WEASEL apartment (ed.-you can figure it out from there) because I'm pretty sure they were about to smoke some weed and I just wanted to pass out. Compounding that bad decision was the fact that I was driving my friends shitbox Ford Taurus, which had this neat electrical malfunction where once you turned the wipers on you had to turn the car off in order to get them to stop. So driving up 75 on a completely dry night with the windshield wipers flapping like Hope Solo's beef curtains probably wasn't the best way to avoid police attention. Oops. But I learned something that night, or at least I think I learned something. During the field sobriety testing, after I embarrassed myself trying to walk a straight line, I blew a .18. Stone cold sober obvs. But when I actually got taken back to the station for the breathalyzer, I placed my tongue as close as I could to the end while still being able to blow into the machine(I don't know how to make that sound any less gay). I blew a .13. Did that technique make a difference? No idea, but it wasn't something I was going to forget.

So here I sit. Waiting for some cop from the burbs with nothing better to do to come grill me and tell me I smell like booze, because of course. Sure enough, the second question, "How much have you had to drink tonight, sir?" Now I took a calculated risk in saying that I had a Guinness with dinner. He already had probable cause with me running the light, and then saying he smelled alcohol, so whether or not I said I had a drink wasn't going to make him change his mind. If he had just pulled me over for no reason, then I wouldn't admit a thing. I told him I'm only up here for work and don't know the area, told him I was caught between on the light and felt it was safer to proceed through it, and told him exactly where my hotel was and how close I was to it. And I'm fucking white which means I get a free pass, right? Hopefully me just being honest and white will get me on my way.

Wrong. After he runs my license and insurance he comes back and asks me to run through some sobriety tests. Say the alphabet starting at C and stopping at N. Okay. Touch my thumb to each finger, in order of pointer, middle, ring, pinky, while counting 1-2-3-4 and then do it backwards. Okay. He goes back to his car for a bit. I'm freaking the fuck out. I'm pretty sure I know what's coming next. I'm looking up everything I can on my phone to figure out what I should do next. Do I take the breathalyzer? Do I flat out deny everything? Do I do everything but the breathalyzer? So the cop comes back and tells me another unit is coming with a portable breathalyzer. I can take it, or if I refuse then I will have to get out of the car and do a full field sobriety test. He also tells me if I pass the breathalyzer then I don't get any ticket for the red light. So now I wait again.

While waiting this time I call a DUI lawyer hotline hoping that I can get somebody, anybody on the line that can tell me what to do. I get nobody, not even able to leave a message, just get hung up on. Looks like I'm on my own. So I start to look around my car. Anything to drink? Anything to eat? Anything at all that could possibly push the odds in my favor. I have half a coffee from that morning, that's actually turned into half slush. Well there it is. My plan is to chug this coffee the moment that other cop starts to walk towards me. I'm going to take the breathalyzer, at least the portable one because I'm pretty sure it's not admissible in court, and then if I don't pass then I will refuse it at the station. I have zero confidence this plan will work out. But it's all I've got. I'm also banking the general internet knowledge that, in my mind, is something like each 12 oz beer or single mixed drink will bump up your BAC by approximately .03. And your body should be able to metabolize at least one of those over the course of an hour. So I know that I'm close...or at least I think I do. But this cop and my guilty conscience have totally mindfucked me into believing that I'm gonna blow a .15 and end up in the slammer with my mugshot on the news.

So cop rolls up. I chug the coffee and put it down right before he gets to my window. I blow into the breathalyzer, using my same patented tongue strategy from before, and he bitches at me for not blowing hard enough(GAY). So I blow harder(and GAYer) and it clicks. I'm done. I sit there for a solid 2 minutes waiting for the results. Finally. The cop leans in, "Alright buddy, I'm gonna let you get on your way. You blew a .03. Next time don't run a red light in front of a police station after having a beer."
The disappointment in his voice gave me an instant boner. Fuck yes, motherfucker. I beat that shit. No idea how. I wasn't drunk by any means, but really thought 2 pints and the drink would put me above the limit. I don't think I've ever felt relief like that, in one single moment, ever in my life. The amount of dread that was running through my head while waiting in my car was mortifying; Mrs. Ace is going to kill me, I might have my license back by the time the baby is born, I'm going to lose my fucking job after two days, I don't really have anybody to help me out in Cleveland, and this fucking DUI is about to run me 2k when it's all said and done. Fuck all that.

I get back to the hotel and I don't know whether to go get blacked the fuck out at the bar or go back to my room and swear off drinking because that fucking feeling just isn't worth it. I went back to the room. Had some coffee(THE BEST FUCKING DRINK IN THE WORLD NOW FOREVER AND EVER) and called Mrs. Ace. She confirmed that she absolutely would have killed me.

I still don't know how I feel about all this. Did I do something wrong? Because I still feel really guilty and I'm not sure I have any reason to be. Obvs I ran the light, but did I get away with drunk driving? Am I a giant fucking ass hole for potentially putting Mrs. Ace through the hell that would have came with that DUI, including more than likely losing my job? Or am I just a victim of the demonization of drunk driving and being warped by all the bullshit adds with invisible cops? Don't get me wrong, drunk driving is bad, but the amount of airtime it receives is mindblowing and the inflation of the numbers done by the National Highway Traffic Safety Admin is bogus. I still feel like I could drink a six pack and drive safer than most folks in Grump's age group.

So there it is. My extremely close call to Mrs. Ace removing my balls and me being incredibly fucked with my job, and potentially finding another job because DUI's get you an almost immediate boot in the mental health and education world. Oh, and do you have any tips for making sure you don't get a DUI if you happen to get pulled over? I know with this group we have obvs had some experience. I am totes going to buy a portable breathalyzer and test my theory.

Leave your close calls in the comments
          Important information for Jews        
"The offering, sale and/or distribution of many of the products or services described on this website are not intended to any Jews. If you intend to obtain any product or service from OurBank that is described on this web site, you must first inform OurBank whether you are a Jew.

This website and its respective contents do not constitute an offer or invitation to purchase or subscribe for any securities or a solicitation of any offer to sell any securities to Jews. Any brokerage and investment advisory services described herein are not intended for Jews. Furthermore, any solicitation on this web site of banking services (including accepting and/or soliciting deposits), insurance services, mortgage and/or consumer lending services or credit card services is not intended for Jews..."

That's what I just got from my bank. No, the word is not "Jews", but it describes a population group to which I belong. The only reason I withheld the name of the bank is that many banks are displaying the same text, and they have not written it themselves. The word is "US persons", and the guilty parties in this case are the Senate and the House, with the special honorary mentions for  Max Baucus (D–Montana) and Charles Rangel (D–NY), the authors of the Foreign Account Tax Compliance Act of 2009.

(US persons is defined as all US citizens and permanent residents resident in the US, some US citizens resident abroad - they are not saying who, and whether this actually applies to me, and any entity organized or incorporated under the laws of the United States).

This particular law has raised the US citizenship renunciations by a factor of six, which should say something to our Congress, or would have if it weren't, as an old joke says, the opposite of progress.

I am certainly not planning to renounce mine. Seriously, I'd rather vote for Mr. Rangel with a very big cactus, applied anally. But the first thing that comes to mind is banning the population register from identifying me as a US person to anyone, and lying to all the Finnish (and other non-American) financial institutions that I ever deal with that I am not in fact a US person. Funny thing - so far I have always been in compliance with all the US tax laws. Will there be a day when I choose not to report an account just because doing so would "out" me as an American to the bank that holds the account, and cause them to close that account? If that day comes, I will totally do that without feeling guilty in the least.


          Volunteer: Research Expedition in Norway!!        

JOIN A RESEARCH EXPEDITION IN NORWAY

We are currently searching for 7 research assistants to join boat based expeditions in Norway.



Best Explorer (www.bestexpeditions.net)

Aims of the expedition and itinerary

The aim of this expedition is to conduct a survey during which we will collect data on marine mammal distribution along the North coast of Norway. Data will be used by several students working currently on their PhD and Master´s thesis in Whale Safari Andenes, Norway. This expedition is organized in collaboration with La Isla de los Delfines (www.laisladelosdelfines.com). 

We will sail out from Tromsø harbor, and during 7 days of navigation we will pass through the areas of high concentration of cetaceans along the coast of the Vesterålen and Lofoten islands, like the Bleik Canyon, a key feeding ground for sperm whales. In the area we might also encounter killer whales, Atlantic white-sided dolphins, white beaked dolphins, pilot whales, porpoises, fin whales, minke whales and humpback whales. We will conduct visual and acoustic surveys, and work on the photo identification of sperm whales and killer whales. We will spend the night at a different harbor each day, allowing us to explore the wild coasts of these islands.

The itinerary is subjected to weather conditions, as sometimes the sea state may oblige us to stay on land. In this case, additional activities will be proposed.

Dates
·         16th – 24th June 2011
·         19th – 27th September 2011

The boat and life on board

Best Explorer is a 15 m long sailing boat that has been used for sailing across remote areas in Northern Norway and the Arctic during the past years. It has a capacity for 12 persons and is perfectly equipped to conduct research surveys.

More info: www.bestexpeditions.net

The boat is equipped with 3 showers and a full kitchen. As space might be limited, we recommend bringing reduced luggage.

Participant requirements and duties

Participants will help during the survey in effort and marine mammal data collection and analysis. During the expedition we will expend cca 10h a day working on the survey. Participants will learn how to design surveys and data sheets, use GPS, recognize marine mammal species, gather behavior data, individual identification of cetaceans and sailing skills among other tasks.

We will enjoy local nature and landscapes through excursions the rest of the time, the midnight sun in June, and northern lights in September.

During the expedition, participants will be provided with lectures about marine mammals, cetaceans and training in research techniques. A boat safety lecture will be also arranged on the first day of the expedition.
Anyone with an interest in getting actively involved in marine mammal research can join the expedition. Though no prior experience in the marine mammal field is necessary, it will be considered a plus

The applicants should be aware of the weather conditions on the Norwegian sea, which can sometimes be rough, so we discourage people who suffer from seasickness to apply.

Applicants will be accepted on a first come – first served basis. 

Participation fee

Unfortunately, the budget of this project is very limited, so there is a fee of 1500 euros per participant strictly to cover the boat expenses. 

The fee includes travel insurance, accommodation on board in 3-4 persons cabins, and boat expenses (e.g: rental fee, crew salary, oil, harbor fees). Food expenses will not be covered, but we will keep these expenses low by arranging community meals. 

As the participation fee only covers boat expenses calculated on the basis of 7 participants, we need to fill all the assistant positions for the expedition to take place.

The payment can be done by 30th April and it can be done through installement, but please consult me beforehand for this way of payment. However, a part of the fee (300 euros) must be paid in advance (before 31st March) to book the placement. This fee will be returned if the participant communicates refusal of the placement before 31st March.


For more information and application, please contact:
macostaplata@gmail.com

Marta Acosta
Researcher
Whale Safari Andenes
www.whalesafari.no
macostaplata@gmail.com  


          Activities: Marine Mammal course in Belize!        

Ecology, Behavior & Conservation of Marine Mammals, A Unique Field Course in the Drowned Cayes, Belize

DATES: May 26 - June 8, 2010 (inclusive of travel)
INSTRUCTORS:

Caryn Self-Sullivan, Ph.D., Bruce A. Schulte, Ph.D., Katherine S. LaCommare, M.S.
LOCATION: Spanish Bay Conservation & Research Center at HP Adventure Lodge,
http://belizeadventurelodge.com/
COSTS: $2595 includes, housing, meals, field trips, ground & water transfer fees, research & materials fees; DOES NOT include airfare, books, tips, or credit hours
DEADLINES: Early Registration ($50 Discount) & and Deposit due March 1st, 2010
MINIMUM / MAXIMUM CLASS SIZE: 8-24 students
REGISTRATION:
http://www.sirenian.org/CourseSyllabus2010.html

Want to be a Marine Mammal Biologist? Or a Behavioral Ecologist? Here's your chance to join our research team for two intense weeks of total immersion into the world of Animal Behavior, Antillean manatees, bottlenose dolphins in Belize! You will become totally immersed into island living, the study of ethology (animal behavior) and the biology of manatees and dolphins through lectures and learning activities, literature review, debate, projects, and field research. This unique field course combines an overview of the ecology, behavior, and conservation of sirenians and cetaceans with hands-on manatee & dolphin research in the Drowned Cayes, Belize. You'll spend 3-4 hours on the water each day learning about the environment as we explore a labyrinth of mangrove islands, seagrass beds, and coral patches searching for elusive manatees and charismatic dolphins. You'll collect behavioral and environmental data and learn about photo-id techniques; you'll develop a Fact Sheet or Activity Booklet about a related topic to be published by the Hugh Parkey Foundation for Marine Awareness & Education and/or Sirenian International. Extra-curricular activities include diving or snorkeling at Turneffe Atoll, and exploring an ancient Maya City.


This unique course has a work load equivalent to 4 university credit hours and is divided into 4 major components: lectures and learning activities (~1 hour per day), independent reading and assignments (~2 hour per day), data collection in the field (~4 hours per day), project development (~1 hours per day) and debate/group discussion of reading materials (~1 hours per day).


Want credit towards your degree? No problem! Sign up for independent study with an advisor at your school and pay the appropriate fees. The course has 70 contact hours and is comparable to a 4 credit university course. Just have you advisor contact Dr. Self- Sullivan (cselfsullivan@georgiasouthern.edu) to discuss the requirements for credit. Remember, if you are interested in getting independent study credit for this course at your school, you must make arrangements IN ADVANCE with BOTH your advising faculty and the course instructor. Credit hour fees must be paid directly to your school and you must fulfill any Study Abroad requirements at your school.

COURSE CONTENT OVERVIEW (Lectures & Learning Activities)


- The Order Sirenia: Manatees and Dugongs of the World
- The Order Cetacea: Whales and Dolphins of the World
- The Local Research Project: Manatee & Dolphins of the Drowned Cayes
- Animal Behavior: Ethology and Behavioral Ecology - The Scientific Perspectives
- Ecology - Interactions between Manatees, Dolphins, and their Environment
- Marine Mammals under Human Care in Zoos and Oceanariums
- Marine Mammal Science: Research Design, Data Collection Methods,
- Analysis of Data, and Interpretation of Results
- Marine Mammal Conservation and Advocacy: The Status of Extant Marine Mammal Species

RESOURCES


We recommend two books (optional) as primary resources on manatees and dolphins:
- The Florida Manatee: Biology and Conservation, by Roger L. Reep and Robert K. Bonde, University Press of Florida
- The Bottlenose Dolphin: Biology and Conservation, by John E. Reynolds, Samantha D. Eide, and Randall S. Wells, University Press of Florida


A selection of primary literature will be sent to you in electronic format in advance of the course. Students are required to print out these articles and bring them with them to Belize.There is also a library of books and archived journals, including Society of Marine Mammalogy, Animal Behavior, and Conservation Biology journals, in our library onsite in Belize.

COURSE FEE & ADDITIONAL INFORMATION


The course fee of $2595 includes all transportation, course, field trip, and living expenses from your arrival at the PWG airport in Belize on May 26th to your departure on June 8th. You are responsible for tips, insurance, and round-trip airfare to Belize (BZE).

REGISTER EARLY: SAVE $100 WHEN YOU REGISTER and PAY IN FULL BY March 1st
SAVE $50 WHEN YOU REGISTER and PAY DEPOSIT BY March 1st

To register for course, please visit
http://www.sirenian.org/CourseSyllabus2010.html

For more information on the course, please email caryns@sirenian.org or cselfsullivan@georgiasouthern.edu

For more information on the instructors, please visit
http://sirenian.org/caryn.html and http://bioweb.wku.edu/faculty/Schulte/Default.asp

For more information on the facilities, please visit
http://belizeadventurelodge.com/

Download a Course Flyer at
http://sirenian.org/CourseFlyer2010.pdf


Caryn Self-Sullivan, Ph.D.
President & Co-founder, Sirenian International
Visiting Assistant Professor, Georgia Southern University
Mobile: 540.287.8207 | Fax: 540.242.9196
Email: caryns@sirenian.org or cselfsullivan@georgiasouthern.edu


          Climate Change: The Evolution of the Deniers/Does Paul Ryan Hate His Grandchildren?        

I went to the Mach for Science and then Drumpf pulled out of the Paris Accords. Causation or Correlation? I then posted about climate change (CC). That's caustation.

1) Deniers:

  The deniers have gone through several phases:

There is no CC

There is CC but its not caused by humans.

There is CC and its caused by humans but since China and India and other countries aren't doing anything about it, if only we do it will have no effect except to ruin our economy.
(Counter argument: the effects of climate change are economically devastating- are insurance companies trying to pressure governments to do something about CC since CC's effects cause damage which hurts their bottom line?)

Intermixed with these arguments have been:

Just because 87% of all lung cancer victims  smoke, that's just a correlation. Maybe people the lung cancer gene is also the smoking gene. Correlation does not equal causation. OH, sorry, that's a flashback to the Correlation NOT causation arguments made by the Tobacco companies. Do they still believe that? Mike Pence does (see here). How can they stay in business? (here's how) ANYWAY, some are making the correlation NOT causation argument for why Polar bears are dying, etc.

AND the classic

Technology will bail us out. (This would be a better argument if it was followed by hence we will give lots of funding for such technology  which is NEVER what its followed by.)

OKAY, so where are we in 2017?

The economist had an argument about how Solar and Wind will soon be MORE cost effective than Oil and Gas- though we still have the problem of what happens on a cloudy, windless day- so we need technology to store (see here though its behind a pay wall). China and India ARE doing things about CC. How much? Effective? Hard to say- though both are really concerned with pollution.

I predict the new argument will be:

We're all doomed anyway so why take our economy down at the same time.

Unfortunately this argument might be correct.

(ADDED LATER- a commenter says that I conspicuously left out religious arguments to not do anything about CC.  I now conspicuously ask you to read his comment.)

2) Take Paul Ryan. Please.
Seriously-- I assume he KNOWS that CC really is a problem and the longer we put it off the worse it will be for his grandchildren, and perhaps his children. So why does he fight ANY attempt to even admit we HAVE a problem (And note there ARE some market-based solutions- a Carbon Tax, Cap and Trade.)  Some speculation

a) Despite being smart he's in deep deep denial. Okay, but why is that? If you believe in small government then if something comes along that REQUIRES big government, you just DENY it since it does not fit into your world view.

b) Paul Ryan hates his Grandchildren.

c) Paul Ryan thinks that HIS grandchildren will be among the few people who survive and live in a VERY gated community. He's probably wrong about that as even those in gated communities will suffer the effects of CC.

d) Paul Ryan is stuck. If he tries to do ANYTHING then it will not work AND he'll lose his speakership and possibly his seat in congress. And there are a large number of congressman and senators who feel the same way but they're all afraid to say. If they ALL said so then... they'd ALL lose their seat in congress. One of the downsides of politics is ending up STUCK on the WRONG side of history and KNOWING it. Well, at least there won't be much history left so he won't be stuck on the wrong side for long.

3) Game Theory. I used to think that it was in NO countries SHORT term interest to do anything serious about CC (that is, do it alone) and hence we were all DOOMED! Doomed I say! And part of the problem is that if Country A emits greenhouse gases its bad for THE ENTIRE WORLD EQUALLY, and not for Country A in particular. But a few things make me more optimistic:

Pollution is a here-and-now problem for China and India so they will tackle that. That somehow has to be part of the solution.

Technology- as mentioned before Solar and Wind is catching up to Gas and Oil. (downside of technology- Fracking and oil extraction are also getting better and cheaper. Hubbert's Peak Oil Theory doesn't seem to be true) But the real advantage of Solar and Wind will be that you don't have to Extract and ship Oil (or Coal or whatever).

4) I wrote that last positive point before President Drumpf. Having a CC denier in the white house means four more years of no action which sounds really bad- especially since the longer we put off doing something about the problem, the harder and more expensive it will be to slow down CC (Some ponders that Trump won't be that bad for the environment: here)

5) Okay Bill, what would YOU do? Carbon Tax will give financial incentive for companies to curb Carbon emissions. And its simple. The Tax has to be high enough to have an effect. Another added bonus will be to help America pay down its deficit. ALSO more research into renewables. Oddly enough I would also recommend NOT forcing Gas to contain Ethanol- make Ethanol compete with Solar and Wind. (Recall that Ethanol is funded only because of the Iowa Caucus. If you don't know what I'm talking about, don't worry, its too stupid to explain.) Some may disagree and have other ideas. Thats FINE- I would rather be having a debate about what to DO about the problem rather than one about whether or not there IS a problem. Though even a debate about what to do about the problem should be SHORT so we can begin DOING something.


          St Louis Aerial Video, Aerial Photography & Drone Videos        

314media provides the St Louis area with state of the art drone helicopter videos, St Louis aerial video, and aerial photography and video editing services in the St. Louis and surrounding Metro Area. Our St Louis Aerial Video, Aerial Photography, & St Louis Drone Video Services come complete with music and editing time included in our simple package price. 314media performs St Louis aerial photography & drone video services in the St Louis and Southern Illinois area and is looking forward to working with you on your next aerial video production.  We are professional Aerial Video Service providers and strive to make your production an overwhelming success. We provide video editing, music selection, and a complete production – for a low, turn-key cost. A unique view of JB Memorial Cemetery in St. Louis At 314media, we have provided professional St Louis aerial photography & St. Louis drone videos for all kinds of uses such as real estate, construction review & promotion, insurance purposes, and a whole laundry list of other applications. Aerial photographs or drone videos of your business location are great for marketing materials, print, or even on your website or video channel. Our St Louis drone video services provide the WOW factor that your ...

The post St Louis Aerial Video, Aerial Photography & Drone Videos appeared first on 314media.


          Adventures in Homeownership Part II: "So, uh, When's Recycling Day?"        
(Rickey’s Hebrew ancestry totally comes in handy when it comes to stacking massive pyramids of boxes).

As you can tell from the above picture, as of this Saturday, the Hendersons are officially moved in and are thoroughly enjoying their new home. Not that the process leading up to this point has been painless… There have been Armenian carpet bandits who refused to refund Rickey for work they never did. There have been movers who ripped up a perfectly good couch and refused to honor the insurance policy Rickey purchased. There has been the landlady who won’t let the Hendersons off the hook for their lease and who Rickey secretly suspects was somehow involved in the Holocaust (as in, a relative of hers fell out of a guard tower and she was fairly broken up about it).

…And finally, there was the boiler that broke down THE FIRST NIGHT the Hendersons spent in the house. Rickey kids you not. They say that during your first night in a new house, you’ll stay awake all evening thinking of the things that need to be fixed. Well, the Hendersons spent their first night awake for a somewhat different reason: huddling for warmth with the outside temperate reading 9 degrees outside and the thermostat in the house plummeting to 44 degrees. It was a character-building experience.

After an emergency visit from the oil company, the boiler is now operational and things have normalized. Here are a few pics of where things stand at the moment:
Rickey only tossed up photos of the main floor, primarily beacuse its the only area where some semblance of order exists...
          Will Emergency Central Bank Liquidity Save China's Shadow Lenders And The Economy?        
Besides banks, non-bank lenders including trust companies, insurance firms, securities firms, leasing companies, pawnbrokers and other “informal” lenders have been borrowing in the short term money markets to lend to developers, speculators, consumers and especially local governments.
          Comment on Camps and Clinics Insurance by Adam Schmid        
Hello, My name is Adam Schmid, I am the Executive Director for the Truman Leadership Project, a non-profit, on-campus organization. The main purpose of this project is to host a leadership-camp, wherein, we invite 7th & 8th Graders from throughout the Mid-MO area; we learn about how these students can become better leaders throughout their lives through a variety of speakers, activities, and games. I was curious as to the details of attaining coverage for my non-athletic camp for 20-40 campers. Thank you, Adam
          Comment on How Insurance is Applied to Trailers in Various Situations by Bumper Pull Trailers        
I am really impressed with the attitude expressed on this site for being simple, open, honest, caring, hardworking and sincere, qualities that go together in activities
           POLITICAL JUJITSU: NOW’S THE TIME FOR MEDICARE FOR ALLAs...        


POLITICAL JUJITSU: NOW’S THE TIME FOR MEDICARE FOR ALL

As Republicans in Congress move to repeal the Affordable Care Act, Democrats are moving toward Medicare for All – a single-payer plan that builds on Medicare and would cover everyone at far lower cost.

Most House Democrats are already supporting a Medicare for All bill.

With health care emerging as the public’s top concern, according to recent polls, the choice between repeal of the Affordable Care Act and Medicare for All is likely to be the major domestic issue in the presidential campaign of 2020 (other than getting Trump out of office, if he lasts that long).

And the better choice is clear. Private for-profit insurers spend a fortune trying to attract healthy people while avoiding the sick and needy, filling out paperwork from hospitals and providers, paying top executives, and rewarding shareholders.

And for-profit insurers are merging like mad, in order to make even more money.

These are among the major reasons why health insurance is becoming so expensive, and why almost every other advanced nation – including our neighbor to the north – has adopted a single-payer system at less cost per person and with better health outcomes.

Most Americans support Medicare for All. According to a Gallup poll conducted in May, a majority would like to see a single-payer system implemented. An April survey from the Economist/YouGov showed 60 percent of Americans in favor of “expanding Medicare to provide health insurance to every American.”

That includes nearly half of people who identify themselves as Republican.

If Republicans gut the Affordable Care Act, the American public will be presented with the real choice ahead: Either expensive health care for the few, or affordable health care for the many.


          NOW’S THE TIME FOR MEDICARE FOR ALLAs Republicans in Congress...        


NOW’S THE TIME FOR MEDICARE FOR ALL

As Republicans in Congress move to repeal the Affordable Care Act, Democrats are moving in the opposite direction, toward Medicare for All – a single-payer plan that builds on Medicare and would cover everyone at far lower cost.

Most House Democrats are already supporting a Medicare for All bill. Senator Bernie Sanders is preparing to introduce it in the Senate. Both California and New York state are moving towards single-payer plans.

With health care emerging as the pubic’s top concern, according to recent polls, the choice between repeal of the Affordable Care Act and Medicare for All is likely to be the major domestic issue in the presidential campaign of 2020 (other than getting Trump out of office, if he lasts that long).

And the better choice is clear. Private for-profit insurers spend a fortune trying to attract healthy people while avoiding the sick and needy, filling out paperwork from hospitals and providers, paying top executives, and rewarding shareholders. 

And for-profit insurers are merging like mad, in order to make even more money. 

These are among the major reasons why health insurance is becoming so expensive, and why almost every other advanced nation – including our neighbor to the north – has adopted a single-payer system at less cost per person and with better health outcomes. 

Most Americans support Medicare for All. According to a Gallup poll conducted in May, a majority would like to see a single-payer system implemented. 

An April survey from the Economist/YouGov showed 60 percent of Americans in favor of “expanding Medicare to provide health insurance to every American.” That includes nearly half of people who identify themselves as Republican. 

If Republicans gut the Affordable Care Act, the American public will be presented with the real choice ahead: Either expensive health care for the few, or affordable health care for the many.


          Insurance Leads Get Them Free        
Free insurance leads form a stable supply of prospects that you can make use of for that very vital client generating process for free. Telemarketed insurance leads are details of qualified prospects extracted through several minutes of conversations between a potential client and a call center agent. Exclusive leads may only come from telemarketed insurance […]
          Insurance Leads For Free        
Being in the industry as one of the already many insurance providers is anything but simple and easy. As a matter of fact, it tends to become more complex and exhausting. One business may spend several hours and a large amount of resources scouring communities for prospects that may prove to be potential buyers but […]
          Insurance Leads How to Get Them Free        
The Establishment of an effective referral system is the best way of generating free insurance leads. With a referral system you can make the most and exploit the limits of the potentials of the exclusive telemarketed insurance leads you have purchased from outsource providers. This system allows you to have a continuous supply of leads […]
          Hello world!        
Welcome to WordPress.com. This is your first post. Edit or delete it and start blogging!
          Mold concern after water leak        
[0] Question by Harley6 on 07/29/16 11:14 AM Replies: 0 Views: 623
Tags: Plumbing, Mold, Insurance
Last Post by Harley6 on 07/29/16 11:14 AM
          Reed Insurance: Paraplanner (Office & Home Based)        
32000.0000: Reed Insurance: A National Financial Planners is seeking an experienced Paraplanner to provide full support to the advisers which will include suitability report writing, research, analysis and presenting recommendations.The successful candidate will work from their Manc Greater Manchester, Manchester
          Reed Insurance: New Business Pension Administrator        
15000.0000: Reed Insurance: An exciting opportunity for an experienced New Business Pensions Administrator to join an innovative leading Pensions specialist firm!This organisation is a leading provider with an excellent reputation of delivering real results for its clients. They pro Bury, North West England
          Reed Insurance: SIPP Investment Administrator        
16000.0000: Reed Insurance: An exciting opportunity for an experienced SIPP Investment Administrator to join an innovative leading Pensions specialist firm!This organisation is a leading provider with an excellent reputation of delivering real results for its clients. They provide a Bury, North West England
          Reed Insurance: SIPP Reconciliations Administrator        
16000.0000: Reed Insurance: An exciting opportunity for an experienced SIPP Reconciliations Administrator to join an innovative leading Pensions specialist firm!This organisation is a leading provider with an excellent reputation of delivering real results for its clients. They prov Bury, North West England
          Reed Insurance: PENSION DRAWDOWN ADMINISTRATOR        
16000.0000: Reed Insurance: An exciting opportunity for an experienced Pensions Drawdown Administrator to join an innovative leading Pensions specialist firm!This organisation is a leading provider with an excellent reputation of delivering real results for its clients. They provide Bury, North West England
          Reed Insurance: Paraplanner        
27000.0000: Reed Insurance: A Successful IFA firm in Central Manchester is looking to recruit a Paraplanner who is keen to focus on their career by providing comprehensive whole of market Paraplanning and researching more complex investment portfolios. Paying up £27,000 to £32,000 d Manchester
          Lawes Consulting Group: Corporate Development Executive        
35000.0000: Lawes Consulting Group: Job Title - Corporate Development ExecutiveContract - Permanent Location - LiverpoolIndustry - Insurance Broker (Insurance, Commercial, Corporate)_________________________________________________________________________________An outstanding opportunity t Liverpool, Merseyside
          Jobwise plc: Administrator        
15000.0000: Jobwise plc: We are currently recruiting for a Insurance Administrator for our client based in Liverpool City Centre. This will be offering the salary of £15,000 per year, immediate start and the opportunities to progress within in a well established company Hours: Mo Liverpool, Merseyside
          In the Lab: Worker Placement as Risk Insurance        
Here’s another thought for a worker placement mechanic. The idea is you’re trying to complete missions, let’s say space exploration. Missions have a difficulty rating – this is how many dice you’ll roll when you run the mission. In this version of the idea, the dice you’re rolling when you run the mission have custom […]
          [news] Cognizant & the "Intelligent Internet" + a Peek at 2005 IT Budgets (Part 2 of 2)        
Sunday, August 1, 2004
Dateline: China
 
Ah, the World Future Society.  Much to say about the WFS, but I'll save it for the end of this post.  An article which appears in the March-April 2004 issue of The Futurist was reprinted in a recent issue of Government Computer News (see http://tinyurl.com/yrp2w ); the original paper which was the basis for The Futurist article is also available (see http://tinyurl.com/5ymos ).  The article focuses heavily on findings from the TechCast Project at George Washington University (see http://www.techcast.org ; BTW, they're seeking beta testers).
 
The article acknowledges hype during the bubble, but goes on to indicate that 20 commercial aspects of Internet use should reach 30% "take-off" adoption levels over the next several years -- and will rejuvenate the (American) economy.  One area of particular interest is a "conversational" human-computer interface, called "TeleLiving," based on advances in speech recognition, AI, hardware/grid computing, virtual environments and flat wall monitors.  (Sounds like stuff out of PARC and Microsoft Research.)
 
Their Project results "portray a striking scenario in which the dominate forms of e-commerce - broadband, business-to-business (B2B), online finance, entertainment-on-demand, wireless, e-training, knowledge-on-demand, electronic public services, online publishing, e-tailing - grow from their present 5%-20% adoption levels to 30% between 2004 and 2010.  TechCast considers the 30% penetration level significant because this roughly marks the 'take-off point' when technologies move from their early-adopter phase into the mainstream, where they permeate economic and social life."  (Think of chasm crossing.  Also think of expeditionary marketing within the context of broadband.  BTW, bolded and colored items are MY emphasis.)
 
The authors discuss the notion that many think that the Internet is already mainstream, yet challenge that notion by stating that this is true only for nonpaying use, citing surfing for free information as one example.  "As of 2003, commercial operations involving monetary exchange were limited to about 23% for broadband, 10% for e-tailing, 12% for B2B, 10% for distance learning, and 5% for music.  And these are the most popular Internet applications.  Others hardly register in adoption levels at all."  Bottom line:  It's all about e-commerce, I guess.  Jerry Maguire said it best. 
 
A Look at 2005 IT Spending
 
Not as much as I had originally hoped for in the Forrester glimpse at 2005 IT budgets, but some things to note.  (See http://tinyurl.com/67pse .)  Example:  52% of finance and insurance firms -- led by insurers -- will spend more on IT in 2005.  Okay, sounds like an opportunity for SIs (systems integrators) building .NET solutions.  (For those who don't know, Microsoft has fairly strong solutions for the insurance vertical.)  At the subvertical level, media and nongovernment public sector plays look good, whereas the utilities and transportation sectors look weak.  Also, Siebel and PeopleSoft customers are planning to spend more on IT relative to customers of other key vendors, most notably SAP.  (I don't see this, but I don't dispute their data.  Frankly, I think we'll see a lot of activity for SAP SIs in 2005.  P'Soft is too hard to tell, especially with the confusion caused by Oracle.  Oracle benefits whether the acquisition goes through or not!!  It's the FUD factor.)
 
Not to be outdone, AMR came out with their peek at 2005 budgets for SMEs (small and medium enterprises).  (See http://tinyurl.com/5vlvo .  I got a lot more out of the AMR report.)  Something that is rather common knowledge among IT analysts, but may not be known by those not involved in the IT budgeting process, is that a typical large U.S. manufacturer spends 2% of its annual revs (i.e., revenues) on IT and a large service firm spends 5%.  However, the average for U.S. SMEs is 6.4% of revs, although a good chunk is for basic IT infrastructure.
 
CRM looks like a hot item for U.S. SMEs and the AMR report makes an interesting comment about the perceived need for other countries to implement a "keeping up with the Joneses" strategy.  This being said, then domestic firms in China may follow suit.  As far as operating systems are concerned, there is only one:  Windows.  And U.S. SMEs spend about 20% of their IT budget on software and software maintenance, with discrete manufacturers outspending process manufacturers or retailers.  Typical apps are for financial management and customer management, although expensive CRM suites (think Siebel or Oracle) are rare.  Sounds like an opportunity for utility computing vendorsBottom line:  If the SMEs market is your key market (by size), then go with Microsoft CRM solutions!
 
Fast Forward Over Three Decades
 
At this point, I'm going to get a bit personal.  If you're not interested, simply skip the remainder of this message:  It briefly covers three decades and my so-called "futurist" origins.
 
The first "adult" organization I ever joined was the World Future Society.  (Remember, the basis for the first section of this posting was an article published in their flagship publication, The Futurist.)  The year was 1971.  I had been an adolescent "futurist" since March 1968, the month that my father bought me a copy of Sky & Telescope magazine.  Although the Vietnam War was on the news each night, I was simply too young for it to really matter.  Both the war and protests against the war were merely uninspiring TV images.
 
But something caught my imagination and that "something" was the space program.  I can still recall the liftoff of Apollo 11 on July 16, 1969 at 6:32 am PDT.  Believe it or not, I can still recite the countdown.  I can also recite part of the landing sequence of the Eagle -- the Lunar Excursion Module housing Neil Armstrong and Edwin E. "Buzz" Aldrin.  And, of course, I can remember Neil Armstrong stepping off the foot of the LEM on July 20th, probably around 7 or 7:30 pm.  Two movies also inspired me toward a "tech" future:  The obvious, 2001: A Space Odyssey, and the not-so-obvious, The Andromeda Strain.  (My parents didn't let me stay up to watch Star Trek, so Star Trek didn't have any impact on my life during my early adolescence.)  Although I have been a member of the L-5 Society and the British Interplanetary Society (anyone remember Project Daedalus?), the World Future Society was the most influential organization in my life during my high school years.  Well, a wee bit of personal history.  Those were the good 'ol days ...
 
Cheers,
 
David Scott Lewis
President & Principal Analyst
IT E-Strategies, Inc.
Menlo Park, CA & Qingdao, China
 
http://www.itestrategies.com (current blog postings optimized for MSIE6.x)
http://tinyurl.com/2r3pa (access to blog content archives in China)
http://tinyurl.com/2azkh (current blog postings for viewing in other browsers and for access to blog content archives in the US & ROW)
http://tinyurl.com/2hg2e (AvantGo channel)
 
 
To automatically subscribe click on http://tinyurl.com/388yf .
 

          [news] A Special Report on Business Intelligence        
Thursday, July 8, 2004
Dateline: China
 
One of my favorite industry trades, Computerworld, recently published a special report on business intelligence (BI).  (See http://tinyurl.com/2w8j2 .)  As regular readers of this blog know, I'm hot, hot and hotter on BI.  Not only are BI apps booming in their own right, but BI also provides an open door into other structured data apps (e.g., ERP and SCM).  Also, there is a burgeoning number of apps requiring both BI and knowledge management (KM) solutions, providing a host of new opportunities.  (For now, think of BI for structured data and KM for unstructured data.  But the lines between KM and BI are blurring.)
 
The Computerworld report includes an introduction to BI titled, "BI for the Masses," an introduction to Web harvesting, and a superb article on text mining; there are several online exclusives as well.  In this post, I'm going to focus on an article titled, "Predictions for BI's Future," by providing excerpts with commentary.  As usual, items in bold are MY emphasis; items in red are MY commentary.
 
Embedded BI.  "Over the next four to six years, BI systems will become embedded in small, mobile devices, such as manufacturing sensors and PDAs in the field, which in turn will be linked to more centralized systems." -- Erik Thomsen, distinguished scientist, Hyperion Solutions Corp., Sunnyvale, Calif.
 
PB DM (petabyte data mining).  "Within three years, companies and governmental agencies will be able to successfully run analytics within a centralized data warehouse containing 1 petabyte or more of data -- without performance limitations." -- Dave Schrader, technology futurist, Teradata, a division of NCR Corp., El Segundo, Calif.
 
HPC to the rescue!  "Within the next two to three years, high-performance computing technology used by scientific and engineering communities and national R&D labs will make its way into mainstream business for high-performance business analytics. This transition will be driven by the growing volume of complex data and the pressing need for companies to use forecasting and predictive analytics to minimize risk and maximize profit-generating opportunities." -- Phil Fraher, chief operating officer, Visual Numerics Inc., San Ramon, Calif.
 
BI meets AI.  "In the near future, business leaders will manage by exception, and automated systems will handle significant loads of routine tasks." -- Mike Covert, chief operating officer, Infinis Inc., Columbus, Ohio
 
Visualization.  "Over the next two to three years, BI systems will automatically suggest appropriate visualizations, which in turn will dramatically increase the use of visualization and our understanding of complex relationships." -- Erik Thomsen, distinguished scientist, Hyperion Solutions
 
BI + BPM + BAM.  "Businesses need more than a rearview mirror to drive their business forward into the next era. A new category of intelligence tools will emerge over the next two to three years that combines business process management, business activity monitoring (BAM) and business intelligence to enable the "actively managed enterprise." This will combine the scorecards and rearview-analysis capabilities of BI with the real-time, event-driven analysis of BAM and feed that information into automated business processes for on-the-fly steering of the business towards scorecard goals. This will exponentially elevate the speed at which businesses are able to operate, adapt and make critical decisions." -- Tim Wolters, chief architect of business activity monitoring solutions, webMethods Inc., Fairfax, Va.
 
Bottom line:  Go to a BI-related ACM or IEEE CS conference and you'll hear a lot of presentations on all of the apps described above.  It's where the rubber meets the road:  This stuff is real!!  However, it's important to differentiate "real" BI with much more simplistic reporting software (like a good "chunk" of the so-called BI solutions provided by Business Objects, Cognos and even Microsoft -- via their recent acquisition of ActiveViews).
 
A BI Site to Review
 
Last week I came across a paper published in the current issue of the Journal of Intelligent and Fuzzy Systems.  In this paper the project called "Data Mining and Decision Support for Business Competitiveness: A European Virtual Enterprise" (SolEuNet) is used as a case study and "the source of lessons learned."  The paper provides a link to the SolEuNet Web site (see http://tinyurl.com/3x5vo ); at the SolEuNet site I found a wealth of case studies with supporting technical documents on leading-edge BI apps (see, for example, Workpackage 7 on "Combining Data Mining and Decision Support with Information Systems" at http://tinyurl.com/yqkqm ).  Remember, strategy consulting isn't merely about comparing product specs (regardless what the IT advisory services may say).
 
The Gartner Conference on BI
 
I got my hands on three i-banking analyst reviews of the Gartner BI conference.  The Morgan Stanley report (dated 27 April) noted that customer activity levels appeared to be strong and "many seem to be taking a more strategic approach to BI, resulting in the emergence of larger transactions."  (My emphasis.)  Corporate performance management (CPM) is driving some of the larger deals, with Cognos and Hyperion taking the lead.  Evidently, systems integrators (SIs) are getting religion and developing collaterals around CPM messaging.  RBC Dominion Securities produced a more in-depth report (dated 29 April) and noted the following:
  • Gartner expects the market to accelerate in 2004.
  • The ETL (extraction, transformation, and load) market will flatten (finally).
  • CPM is hot.  "Hyperion, Cognos, and SAS appeared to be the best positioned non-ERP vendors to capitalize on the CPM market opportunity."  However, "(they) believe that SAP is the best-positioned large enterprise software vendor to execute in both the BI and CPM market ..."
  • Finally, the Gartner BI conference itself was hot, with 973 attendees, an increase in attendance of 70% over last year.
UBS chimed in with their own report (dated 30 April), which in some ways was a bit more technical than the other two reports cited above.  UBS noted that heterogeneous environments require independent tools (e.g., it is very difficult to get heterogeneous data into an ERP data warehouse <DW>).  Gartner's rule of thumb is that an ERP-derived BI/DW solution should be on the short-list only if more than 60% of an organization's BI data resides within that single app vendorUBS also noted that the importance of BI is leading to the formation of BI competency centers.  They also believe that SAP and Microsoft remain significant long-term threats to the independent software vendors such as Cognos and Business Objects.  BTW, all three reports seemed a bit down on Business Objects.
 
Another Computerworld feature on BI
 
Sometimes advertorials can be a good thing.  A case in point is the 26 April issue of Computerworld which provides a link to a new, six page Computerworld White Paper on BI.  The paper is titled, "Charting the Course: A Guide to Evaluating Business Intelligence Products"; it's a good, practical read.  Tactical, product spec advice and guidelines, but still a good read.  The PDF can be found at http://tinyurl.com/2gt3d .
 
Recent Tidbits on BI
 
The New Straits Times (Malaysia) via Asia Africa Intelligence Wire reported on 24 June that SAS "expects the BI market in Asia to register double-digit growth for the next five years.  (Don Cooper Williams, director of marketing and alliances for SAS Asia-Pacific) cites a recent report from research house International Data Corp, which predicts that BI software market in the region (excluding Japan) to grow by 12 per cent this year, up from 7.5 per cent in 2003."  Note to SIs in China:  BI isn't just hot in the States; leverage your skills for serving the U.S. market and the domestic market.
 
From the channel, India Business Insight (also via Asia Africa Intelligence Wire) on 31 May announced that "Business Objects has entered into a long-standing systems integrator agreement with Wipro Infotech (WI) to provide business intelligence (BI) solutions to customers."  Note to SIs in China:  Don't be left without a dance partner.
 
Additional Articles for Review
 
I did a quick scan of trade lit and found a few articles worth reading.  First, the March-April issue of Financial Executive talks about CPM -- Corporate Performance Management -- as it relates to BI.  The May issue of Insurance & Technology takes a vertical look at BI (rather basic apps), as does the April issue of Business Credit.  Always think verticals.
 
A Final Wrap (or Should I Say, "Rap"?)
 
Back to Computerworld.  More specifically, see the 29 March issue of Computerworld.  According to a survey conducted by IBM Business Consulting Services, BI is a high priority on the plate of C-level execs.  In a Computerworld poll, 39% of IT executives listed business intelligence projects as their most critical IT projects.  By 2005, market research firm IDC projects that the worldwide market for business intelligence software will total about $6 billion -- up from $2.5 billion in 2003 -- signaling a major increase in business intelligence projects.  IT executives say the skills they need on business intelligence projects include systems integration, data modeling, database administration, data standardization and project management.
 
Cheers,
 
David Scott Lewis
President & Principal Analyst
IT E-Strategies, Inc.
Menlo Park, CA & Qingdao, China
http://www.itestrategies.com (current blog postings optimized for MSIE6.x)
http://tinyurl.com/2r3pa (access to blog content archives in China)
http://tinyurl.com/2azkh (current blog postings for viewing in other browsers and for access to blog content archives in the US & ROW)
http://tinyurl.com/2hg2e (AvantGo channel)
 
To automatically subscribe click on http://tinyurl.com/388yf .
 

          RAND on Cyber Warfare        
Insurance policies do not protect you against acts of war. They don't do it for your home and auto, and I doubt they will do it for your data assets. It's good to be a bit familiar with the areas in which you have limited protection. Here are links to the RAND corporation's page on Cyber Warfare, and wikipedia's entry on RAND:

http://www.rand.org/topics/cyber-warfare.html

http://en.wikipedia.org/wiki/RAND_Corporation

          Cyber breaches in anticipation of London Olympics        
Britain's MI-5 investigates Cyber breaches in anticipation of Olympics

http://wrin.tv/index.php/component/content/article/3-headline/383-world-risk-and-insurance-news-june-28-2012



          A conversation with General Pace        
Last month, I was thrilled to attend a talk hosted by Peter Pace, former Chairman of the U.S Joint Chiefs of Staff at JP Morgan's headquarters in New York City. During a Q&A session that followed the main talk, he fielded some good questions from investment bankers in the audience. The last question he answered was about which threats to American security kept him up at night. 


His response surprised me. 


First he listed things that you would expect, such as the campaigns in Iraq and Afghanistan, political instability in Africa and the Middle East, the rise of China, the craziness of North Korea, the specter of general nuclear proliferation. Then he went back over each of these things and explained why they do not bother him too, too much. 


What really bother him, he said, is the threat of cyber attackThe United States is extremely vulnerable to cyber weapons, he said. He mentioned that large firms like JP Morgan no doubt have the resources to protect themselves a bit from these threats. [Word on the street has it that they do this by hiring people straight out of the CIA and NSA]. But that smaller firms have no such protection, and it is in the best interest of everyone for large corporations and the US government work on security gaps together. 



He said the advent of cyber weapons will have the same impact on relationships between nations as nuclear weapons has. Unlike nuclear weapons, however, thousands of cyber attacks occur each day. He knows what the United States could do to launch a cyber attack and knows what the country cannot defend against. Nation states have generally practiced self-deterrence and do not want a cyber attack launched against them. 
It is not nation states that concern him as much as small terrorist groups. He said that small groups of individuals have the power to launch the sort of actions that only nation states could just a few years ago. 
After the talk, I introduced myself to him as an Iraq veteran, which I hoped would soften him up a bit so I could pepper him with questions. When I asked him what kind of books or articles I could read in order to understand all this better from an insurance perspective, he said that the scene changes so fast that anything more than two years old is out-dated. He told me that updating your reading every two weeks was more like it. This all raised more questions than it answered. What sort of redundancies should web-based businesses develop, so that they can weather any conceivable storm???
I welcome anyone's thoughts on this.

          Philadelphia Insurance Companies        
Philadelphia Insurance Companies is a firm that has developed a broad range of coverage for Cyber Liability and they do a great job describing their programs. As this field develops, various insurance carriers will compete to corner areas of this insurance market. One of the factors in choosing which ones to go with [aside from the obvious factors of price and service] is how clearly informative a company is educationally. Right now, the material provided at this link is a good place for getting familiar with types of coverage. As time goes on, this will change and develop a great deal.

https://www.phly.com/products/CyberSecurity.aspx
          Reading your Cyber Insurance Policy        

When you get your insurance policy and try to read it, you will confront some tedious reading. In order to understand the protection you have purchased, here is an effort to summarize it all for your better understanding.


  • Declarations Page - the first few pages contain the main details you need to know about your policy at a glance. Your company’s name and address, as well as the limits, retentions and premium of the policy.
    • Policy Limit - the amount up to which the insurance company will pay if you have a loss. (For example, if you have a $1,000,000 limit, they will pay for damages that go up to that amount, but no more).
    • Policy retention - the "retention" or "deductible" is how much you have to pay out of pocket when you have a loss. Insurance policies include this amount so that policy holder's have an incentive to exercise diligence in avoiding losses. (For example, if the retention amount is $5000, you have to pay up to $5000 for any loss you have, and then the policy will cover anything beyond that amount.)
    • Policy premium - how much you pay per year for your insurance. The policy premium is based on how much coverage you get. The more coverage you get, the more you pay. Strive to get as much coverage as you need, to keep your premiums as low as possible. But don't scrimp too much.

  • Your cyber insurance policy is based on how you filled out your original application. When you fill out your insurance application, make sure you answer all the questions accurately. You will need to indicate annual income, description of business operations, personal information held (social security numbers, credit card info, employee personal health data, bank account information, home addresses). You will be asked to indicate your computer security controls, privacy policies, the internet media you use, any regulatory issues you have, any prior claims or prior insurance. Let your agent know when any of this information changes.

    • Your Policy Outlined - in the body of the policy, you will find the following things described. Your insurance agent and underwriter understand what these things mean, but for your own reference, here is a run-down of the vital matters:

      • Insuring Agreements
        • Information Security & Privacy Liability
        • Privacy Notification Costs.
        • Regulatory Defense and Penalties
        • Website Media Content Liability

      • Defense and Settlement of Claims
        • This section describes how the insurance company will legally defend you to reduce the amount of money that you both have to pay out. They will do everything in their power to reduce damages.

      • Exclusions
        • This section lists all the things that the policy does not cover. Because a Cyber insurance policy is designed to protect you from specific kinds of IT risk, it does not cover the property and general liability risks that your normal business owners policy covers.
        • This section also lists the things that will not be covered due to your own dishonesty or fraud.
      • Definitions
        • This section is like a glossary that lists terms used in the policy and gives a definition for them. This is good to review so that you can feel conversant in the terminology of the policy.
      • Limit of Liabiltiy
        • This section describes in depth what was indicated on the Declarations Page, the Aggregate Limit of Liability. Aggregate Limit means the total amount the policy will pay out in a given year.
      • Retention
        • This section described in detail the Retention that was indicated on the Declarations Page, that is, the amount that you are responsible for paying if you have a loss. Some policies will have no retention, others will have one.
      • Notice of Claim, Loss or Circumstance that might lead to a Claim
        • This deals with how you need to notify the insurance company if you have a loss. For you as the owner of this insurance policy, all you need to do is notify your agent as soon as you have a loss or think you might have one, so he can take it from there.
      • Assistance and Cooperation
        • This describes how you have to cooperate with the insurance company if you have a loss.
      • Subrogation
        • This describes how the insurance company will go after other companies who may be at fault if you have a loss.
      • Other Insurance
        • This describes how the insurance payouts will work if you have other insurance policies in addition to this one.
      • Mergers and Acquisitions
        • This section describes how you need to structure your insurance if you buy a new subsidiary or if you merge with another company. Should you do either of these things, contact your agent, so they can review all of your insurance will you and re-adjust the policy to your new situation.

              Examples of Cyber Loss        

    • Business Interruption - crippled computer systems, a downed website or abrupt data loss can produce a spiral effect of lost revenue to limit your ability to meet payroll and other expenses. Business Interruption forces you to suspend normal operations until everything is fixed back to normal. A normal insurance policy protects you from Business Interruption if you building burns down. Cyber Insurance protects you from the same thing, but in a digital sense.

    • Notification Costs - these expenses mount quickly. As the laws regarding data breach change and develop, legal obligations for businesses are increasing. In the event of cyber breach, you may be required to inform customers and the public that their information is at risk. This can get very expense. Payment for call centers, drafting written alerts and press releases, printing, postage, advertisements/ publications to inform them about the breach. Cyber insurance will cover these expenses, so you do not have to shoulder them yourself.

    • Credit Protection - in a cyber information breach, your company will be financially liable for the credit monitoring services that each of your customers will require.

    • Crisis Management - fees for public relations to reestablish your name and credibility.

    • Cyber Extortion - this is when a when a hacker holds your information hostage. Ransom money has run into the millions in some cases.


    • Legal Fees - what you pay in the face of lawsuits. Because your company had a duty to secure customer information, you could face lawsuits for the breach of this duty, resulting in hefty legal fees. Insurance companies are not only well equipped with lawyers who specialize in dealing with lawsuits of this type, they are able to settle claims out of court to minimize the losses you face.

    • Forensics Costs - what you Because there was a breach of your security system, your company will now have to pay for a digital forensics analysis to determine how the breach occurred, and new security systems to guard against future instances will have to be installed

    • During this whole process, your business's day-to-day operations will be interrupted while security breach issues are cleaned up

    • Lost Time = Lost Revenues - self explanatory. During this whole process, your business' day-to-day operations will be interrupted while security breaches are cleaned up.

              What is Cyber Insurance?        

    Cyber insurance protects businesses against the hazards of Data Risk. 

     Data is the most valuable asset for most businesses, and data breach is one of the biggest risks. Cyber insurance protects you from a range of costs that you could incur in the event of a data breach. Business interruption costs. The costs of reconstructing data, defending against lawsuits, providing notifications to people whose data has been compromised all fall under this category. The laws regarding these issues are constantly evolving. There are 46 states with separate laws for information risk. There are federal laws, and international laws that are starting to surpass laws in the United States.

    Don't think that by writing this article we intend to generate fear, the way that insurance companies normally do. We are here for the opposite reason, to make you informed and confident.

    Examples of data breach include scenarios such as posting sensitive data on your website, breach of customer privacy, intellectual property infringement, virus transmission between computers, employees who lose their laptops or flash drives containing sensitive information, computer malfunction/ employee action that distributes customer information by mass e-mail.   

    If your business uses a computer system, you are exposed to data risk every day. If you have a website, you are also in the publishing business, whether you intend to be or not, and anyone can access your content. If your business collects or handles confidential information (like home addresses, social security numbers, people’s names, credit card or bank account details), you are legally responsible for what is done with that info. If you have employees, and you gather their personal information to provide benefits, you are responsible for what happens to that info.


    The size of your company does not protect you, especially if you Outsource


    Large banks, retailers, and healthcare organizations are known to have this kind of exposure, but so does every other business. Being small or outsourcing to a third party doesn’t isolate you from exposure. Smaller enterprises may be more at risk than large ones. Big firms can usually take a hit and absorb some losses if they don’t have the right coverage in place. But a smaller company that takes a hit like this can be put out of business. 



    If you use third party vendors, you are not safe. 


    Companies that use third party vendors to handle some of their data – whether it is payroll or customer information – still have exposure. If you collect the data from individuals, you may use vendors to do certain things with it, but the law still looks to you to comply with the issues.


    Can you afford Cyber Insurance?


    The form you fill out for cyber insurance provides a self-assessment for your current risk situation. The best insurance providers in this field give you access to a stable of professionals who specialize in crisis management, law, and front line breach coaching. When losses do occur, people tend to panic. They realize their reputation is now on the line and the customers and competitors will start to pick up on it. Premiums for run from $2,000 to $5,000 for a million dollars of coverage. Policies in that range that will get you an advocate and a response team to help with any incident. As a smaller company, you want to make sure that someone responds because you don’t have employees on staff who are able to devote their full time to cyber loss forensics.












              A Dog’s Eye View: You Ate What???        
    I created an online survey where people told me the strangest things their dog has eaten and not make himself (or herself) sick. The following list has me convinced me we are all surrounded by Bad Dogs to such a degree, that when my major policy renewal season is over at the insurance agency, I may just start petitioning the State Legislature to make Chronic Bad Dog Syndrome (CBDS) an ailment worthy of allowing me to obtain an ADA placard for my car, and maybe install some sirens and flashing lights. Simply because when I need to get to the emergency vet, I need to get in there RIGHT NOW, and really, really need the closest parking space in order to minimize distance to their front door.
              Books For Soldiers in Trouble        
    Several years back I helped manage a large, monthly, FOL, library book sale. One of the activities I instituted was shipping books to a program called Books For Soldiers. Our branch mailed a lot of really good books to the forces overseas.

    Due to health reasons, three or so years ago I quit my volunteering. The wear and tear on my body was too great and since I was tired of doing way too much heavy, physical work myself, I left with no regrets. But... I often wondered if the Books for Soldiers program continued since the woman who actually boxed and shipped the books also left the FOL group after I did. Happily, I learned this year that the mailings continued.

    So, it was with some dismay that I learned yesterday via email that the Books for Soldiers program is in dire financial difficulties. I don't think they'll mind my pasting the information in my blog. If even a couple people read this and donate, that is a few more dollars.

    Books For Soldiers
    2008 Fundraising Update Newsletter April 2008

    ___________________________
    It Is A Bad Economy

    Starting at the first of this year, BFS started a robust fundraising campaign here in North Carolina. We contacted small companies and some large companies you probably have heard of. To date, we have received a stack of letters that begin with "we deeply regret not being able to donate this year" and no cash. From our corporate donation campaign we have received a tad under thirty dollars from a philanthropy grants group in Winston Salem, NC. That was it, nothing else.

    Times are tough for all non-profit groups, food banks from all around North Carolina and across the nation are suffering from a lack of donations and a sharp increase of those in need. The article below arrived in my email today about a women's shelter closing because of a lack of donations.

    the-signal.com/news/article


    ___________________________
    The Next Step

    The BFS Board of Directors have discussed this problem for some time and have decided to have another go at fundraising. We are working on a different campaign aimed at companies in larger states - California for example. Every time we want to do fundraising in a state (cold call, direct mail, advertising) we need to file with that state's Secretary of State - filing in all states if prohibitively expensive so we have to pick and choose.

    In our last newsletter, we reported on the hacker attacks that coincided with our 5th Anniversary. Those DNS attacks didn't help our balance sheet. Our final IT bill from the datacenter for that week was a tad over $11,000. If you recall, the hackers brought down the whole datacenter just to try to kill us.

    The Board set a goal of $70,000 to raise by November 1st of this year. If that amount is not raised, the site will close on December 31st, 2008.

    If we cannot make the fundraising target, the Board will seek to sell the site to another 501(c)(3) and any new owner will need to be qualified - have the IT talent to run the site, the funding to keep it going and the funding for the required upgrades, both software and hardware. We would also stop accepting new OVs on November 1st and stop accepting new books requests from soldiers on December 1st, 2008.


    ___________________________
    What Does It Take?*

    It takes a lot to run BFS on a monthly basis. The monthly funds required to run an operation like BFS are large. Here is a partial summary of where the donations go.

    All figures are a monthly average for 2007.

    Books, DVDs, other carepackage items $1153
    Postage $812
    Rent $1600
    Utilities $277
    IT Services (server farm, hosting, bandwidth) $4258
    IT Maintenance Contract $1500
    IT Security Software License Fees $350

    There are other things like broken computers, the occasional software purchase, insurance, pencils, toilet paper for the bathroom, etc. that we purchase.

    No one at BFS receives a salary.

    The BFS presence on MySpace, Flickr, YouTube are all free. Our presence in Second Life has also been donated.

    We will be disabling the uploading of photos in the next few weeks to save bandwidth. Please post your photos to the Flickr BFS Group and include the Flickr link to the photo in your forum post. If you want keep your photos on BFS, place them on Flickr and post the code in your post. Instructions can be found here.

    My hopes is that eventually we can raise more than the $70k survival goal. Last year our goal for 2008 was to move to a website design where the cumbersome OV process was performed online and searching and finding soldiers would be a breeze - subscribing to soldier requests is my favorite new BFS feature. Now we are just struggling to stay open.


    ___________________________
    How You Can Help

    The ONLY reason we are open today is because of the OVs that have donated so far this year, but now I need to ask more of everyone.

    1) Office party fundraiser - Coordinate a "Save BFS Day" at work and urge, beg, cajole your co-workers into coughing up something for BFS.

    2) Have your company cough up some cash. We will send your company a formal donation request, just send us the company name, contact name and address and we will get it out right away. Send these requests to me personally (storm@booksforsoldiers.com)

    3) Have your place of worship pass the plate (hat, kippah, whatever) for BFS. Consult with your church's leader about holding a "Save BFS Offering" one day this month. Checks should be made out to "Books For Soldiers." If they have any questions or concerns, please contact me directly to set up a call.

    4) Visit our donation page and give what you can.



    or by check

    Books For Soldiers
    2008 Fund Drive
    353 Jonestown Rd #123
    Winston Salem, NC 27104


    ___________________________
    In Closing

    I started BFS five years ago and fully expected it to be online for only six weeks, that is the length of time I thought it would take for our troops to finish up in Baghdad and come back home. I am also terrible at predicting who is going to win the next NASCAR race.

    If worse come to worse, it has been a good run - a great run in fact. In the first 6 months of operation, we collectively shipped over 400 tons of packages to the Middle East, that is when I stopped counting. We also built the largest English library in the Middle East - together with US soldiers at the Baghdad International Airport in the months following the fall of Baghdad.

    We have done a lot of tremendous work, made a lot of great friends and even a wedding or two! We have also lost a lot of friends and we have received way too many memorial flags. Either way, you can all be proud of what we have achieved.

    I promise that we will do everything in our power to meet our fundraising goals and will appreciate any help from you.

    Thank-you for your support, patience and hard work over the last 5 years.

    And most of all thank-you for your support of our troops.

    Storm Williams
    Founder
    Books For Soldiers



    *Legalese: BFS is exempt from filing IRS Form 990. Any financial information found here should not be considered as a replacement for IRS Form 990 or a supplement to an IRS Form 990.
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              51) Which one of the following statements concerning production and staffing plans is best? A. A master production schedule is a projected statement of income, costs, and profits. B. Aggregation can be performed along three dimensions: product families, labor, and time. C. Production plans are based primarily on information from the master production plan. D. A staffing plan is the intermediate link between the business plan and the master production schedule.         

    BUS/475 Guide 4


    1) The cost principle requires that when assets are acquired, they be recorded at __________.
    A.   list price B.   selling price C.   exchange price paid D.   appraisal value
    2) "Generally accepted" in the phrase generally accepted accounting principles means that the principles __________.
    A.   have been approved for use by the managements of business firms
    B.   have been approved by the Internal Revenue Service C.   have substantial authoritative support D.   are proven theories of accounting
    3) The standards and rules that are recognized as a general guide for financial reporting are called __________.
    A.   standards of financial reporting B.   operating guidelines C.   generally accepted accounting principles D.   generally accepted accounting standards
    4) Sam's Used Cars uses the specific identification method of costing inventory. During March, Sam purchased three cars for $6,000, $7,500, and $9,750, respectively. During March, two cars are sold for $9,000 each. Sam determines that at March 31, the $9,750 car is still on hand. What is Sam’s gross profit for March?
    A.   $8,250
    B.   $750 C.   $4,500
    D.   $5,250
               
    5) Hess, Inc. sells a single product with a contribution margin of $12 per unit and fixed costs of $74,400 and sales for the current year of $100,000. How much is Hess’s break even point?
    A.   2,133 units
    B.   6,200 units
    C.   $25,600 D.   4,600 units
               
    6) As Plant Controller, you are trying to determine which costs over which you have the most control on a day to day basis. Your goal is to achieve better profitability. The Plant Operations Manager suggests that overhead is the easiest area to directly reduce costs. Which of the following items would be classified as manufacturing overhead?
    A.   The western division’s vice president’s salary
    B.   Cost of landscaping the corporate office C.   General corporate liability insurance D.   Factory janitor
    7) What is the preparation of reports for each level of responsibility in the company’s organization chart called?
    A.   Master budgeting analysis
    B.   Exception reporting C.   Responsibility reporting
    D.   Static reporting
    8) Disney’s variable costs are 30% of sales. The company is contemplating an advertising campaign that will cost $22,000. If sales are expected to increase $40,000, by how much will the company's net income increase?
    A.   $6,000 B.   $12,000
    C.   $28,000
    D.   $18,000
               
    9) The cost of an asset and its fair market value are __________.
    A.   never the same B.   irrelevant when the asset is used by the business in its operations
    C.   the same on the date of acquisition D.   the same when the asset is sold
    10) Which one of the following is a product cost?
    A.   Indirect labor B.   Sales person’s salaries
    C.   Advertising costs D.   Office salaries
    11) What exists when budgeted costs exceed actual results?
    A.   A budgeting error B.   An unfavorable difference
    C.   An excess profit D.   A favorable difference
    12) The income statement and balance sheet columns of Pine Company's worksheet reflects the following totals:
                            Income Statement                  Balance Sheet
                Dr.       Cr.                   Dr.       Cr.
    Totals              $58,000           $48,000                       $34,000           $44,000
               

    Closing entries are necessary for __________.
    A.   permanent accounts only B.   both permanent and temporary accounts
    C.   permanent or real accounts only D.   temporary accounts only
    13) Managerial accounting __________.
    A.   is concerned with costing products B.   pertains to the entity as a whole and is highly aggregated
    C.   places emphasis on special-purpose information D.   is governed by generally accepted accounting principles
               
    14) H55 Company sells two products, beer and wine. Beer has a 10 percent profit margin and wine has a 12 percent profit margin. Beer has a 27 percent contribution margin and wine has a 25 percent contribution margin. If other factors are equal, which product should H55 push to customers?
    A.   Beer B.   Selling either results in the same additional income for the company
    C.   It should sell an equal quantity of both D.   Wine
    15) Lekeisha's income exceeds her expenditures. Lekeisha is a __________.
    A.   saver who demands money from the financial system B.   borrower who demands money from the financial system
    C.   borrower who supplies money to the financial system D.   saver who supplies money to the financial system
    16) Maurice receives $100 as a birthday gift. In deciding how to spend the money, he narrows his options down to four choices: Option A, Option B, Option C, and Option D. Each option costs $100. Finally he decides on Option B. The opportunity cost of this decision is __________.
    A.   the value to Maurice of the option he would have chosen had Option B not been available
    B.   $100 C.   $300 D.   the value to Maurice of Options A, C and D combined
    17) A production possibilities frontier will be a straight line if __________.
    A.   the economy is producing efficiently B.   the economy is engaged in trade with at least one other economy C.   increasing the production of one good by x units entails no opportunity cost in terms of the other good
    D.   increasing the production of one good by x units entails a constant opportunity cost in terms of the other good
               
    18) In economics, the cost of something is __________.
    A.   what you give up to get it B.   often impossible to quantify, even in principle C.   the dollar amount of obtaining it D.   always measured in units of time given up to get it
               
    19) A tax on an imported good is called a __________.
    A.   supply tax
    B.   trade tax C.   quota D.   tariff
    20) Which of the following statements about GDP is correct?
    A.   GDP is to a nation’s economy as household income is to a household. B.   GDP increases if the total population increases. C.   GDP measures two things at once: the total income of everyone in the economy and the unemployment rate.
    D.   Money continuously flows from households to government and then back to households, and GDP measures this flow of money.
               
    21) In computing GDP, market prices are used to value final goods and services because __________.
    A.   if market prices are out of line with how people value goods, the government sets price ceilings and price floors
    B.   Market prices are not used in computing GDP C.   market prices reflect the values of goods and services D.   market prices do not change much over time, so it is easy to make comparisons between years

    22) Which of the following statements about GDP is correct?
    A.   Nominal GDP values production at market prices, whereas real GDP values production at the cost of the resources used in the production process.
    B.   Nominal GDP consistently underestimates the value of production, whereas real GDP consistently overestimates the value of production.
    C.   Nominal GDP values production at current prices, whereas real GDP values production at constant prices.
    D.   Nominal GDP values production at constant prices, whereas real GDP values production at current prices.
               
    23) Which of the following is not correct?
    A.   The U.S. debt per-person is large compared with average lifetime income.
    B.   In 2005, the U.S. government had a deficit. C.   A potential cost of deficits is that they reduce national saving, thereby reducing growth of the capital stock and output growth.
    D.   Deficits give people the opportunity to consume at the expense of their children, but they do not require them to do so.
               
    24) The part of the balance of payments account that lists all long-term flows of payments is called the:
    A.   balance of trade. B.   financial and capital account.
    C.   government financial account.
    D.   current account.
    25) Edward Prescott and Finn Kydland won the Nobel Prize in Economics in 2004. One of their contributions was to argue that if a central bank could convince people to expect zero inflation, then the Fed would be tempted to raise output by increasing inflation. This possibility is known as __________.
    A.   the sacrifice ratio dilemma B.   the monetary policy reaction lag
    C.   the time inconsistency of policy
    D.   inflation targeting
    26) In general, the longest lag for __________.
    A.   fiscal policy is the time it takes to change policy, while for monetary policy the longest lag is the time it takes for policy to affect aggregate demand
    B.   both fiscal and monetary policy is the time it takes for policy to affect aggregate demand
    C.   monetary policy is the time it takes to change policy, while for fiscal policy the longest lag is the time it takes for policy to affect aggregate demand
    D.   both fiscal and monetary policy is the time it takes to change policy
    27) Consider two items that might be included in GDP: (1) The estimated rental value of owner-occupied housing; and (2) purchases of newly-constructed homes. How are these two items accounted for when GDP is calculated?
    A.   Only item (2) is included in GDP and it is included in the investment component.
    B.   Item (1) is included in the consumption component, while item (2) is included in the investment component.
    C.   Item (1) is included in the investment component, while item (2) is included in the consumption component.
    D.   Both item (1) and item (2) are included in the consumption component of GDP.

    28) Managers will utilize __________ skills with increasing frequency as they rise within an organization.
    A.   Professional B.   Interpersonal and communication
    C.   Technical D.   Professional E.   Conceptual and decision
    29) Which of these represent skills that managers need?
    A.   Interpersonal, quantitative, and professional B.   Technical, interpersonal & communication and conceptual & decision making
    C.   Professional, technical and interpersonal & communication D.   Conceptual & decision making, professional and technical E.   Interpersonal & communication, conceptual & decision making and professional
               
    30) Building a dynamic organization is another way of describing which function of management?
    A.   Staffing B.   Organizing
    C.   Leading D.   Controlling
    E.   Planning
    31) Your roommate is interested in starting a business and everybody has been giving him different information about being an entrepreneur. Since you have been studying about entrepreneurship and new ventures, which of these would you tell him is true?
    A.   Anyone can start a business B.   All entrepreneurs need venture capital in order to get started C.   Successful entrepreneurs take very careful, calculated risks D.   Entrepreneurs are their own bosses and completely independent
    E.   Money should not be considered a start-up ingredient
    32) The term used to refer to all kinds of differences including religious affiliation, age, disability status, economic class and lifestyle in addition to gender, race, ethnicity and nationality is:
    A.   Diversity B.   Managerial ethics
    C.   Recruiting D.   Employment E.   Selection
    33) A manager's ability to stimulate people to be high performers is referred to as:
    A.   Planning B.   Supervising
    C.   Controlling
    D.   Organizing E.   Leading
    34) A series of quality standards developed by a committee working under the International Organization for Standardization to improve total quality in all businesses for the benefit of both producers and consumers is:
    A.   Total quality management B.   Customer-based integration C.   Computer-integrated manufacturing (CIM)
    D.   Just-in-time control (JIT)
    E.   ISO 9000
    35) Japanese manufacturers' kaizen (continuous improvement) programs enable them to maintain:
    A.   A strategic alliance B.   A homogeneous workforce C.   Positive working relationships with all employees
    D.   A Learning advantage over their competition E.   Larger, faster facilities
    36) Listening to employee suggestions, gaining support for organizational objectives and fostering an atmosphere of teamwork are all considered:
    A.   Technical skills B.   Conceptual C.   Professional skills D.   Interpersonal/communication skills
    E.   Diagnostic skills
    37) The basic components of an effective sexual harassment policy include the following EXCEPT:
    A.   To develop an organization wide policy on sexual harassment B.   To establish a means for ongoing training C.   To act immediately when employees complain of sexual harassment
    D.   To establish a performance appraisal system E.   To establish a formal complaint procedure
    38) Teams that operate separately from the regular work structure and exist temporarily are known as:
    A.   Management teams B.   Transnational teams
    C.   Self-managed teams
    D.   Parallel teams E.   Self-designing teams
               
    39) The Aquatic Center, Inc. periodically reviews the goals of the company. During the process, The Aquatic Center managers analyze their current strategies as compared to their competitors, determine goals that they will pursue and decide upon specific actions for each area of the company to take in pursuit of these goals. The Aquatic Center managers have been engaged in the management function of:
    A.   Goal Coordination
    B.   Controlling C.   Organizing D.   Staffing E.   Planning
    40) As related to managing of human resources, diversity refers to:
    A.   Differences in demographics (such as age, race, gender, disability status, lifestyle, veteran status, educational level, etc.)
    B.   Differences in pay methods (such as hourly, salaried, overtime, hazard-pay, commissioned, etc.)
    C.   Differences in employee benefit plans (such as pensions, insurance, vacations, memberships, etc.)
    D.   Differences in retention strategies (such as training, hiring, incentives, etc) E.   Differences in recruiting methods (such as newspapers, schools, flyers, magazines, agencies, etc.)
               
    41) __________ is the process of working with people and resources to accomplish organizational goals.
    A.   Controlling B.   Decision making
    C.   Planning D.   Supervising E.   Management
    42) Twelve randomly-chosen students were asked how many times they had missed class during a certain semester, with this result: 2, 1, 5, 1, 1, 3, 4, 3, 1, 1, 5, 18.
    For this sample, the median is _____.
    A.   3 B.   3.5
    C.   2.5
    D.   2
    43) Use the following table to answer question:
     P(S | W) is approximately _____.
    A.   .40
    B.   .30
    C.   .12
    D.   .58
               
    44) Use the following table to answer question:
     P(M  A) is approximately _____.
    A.   .50 B.   .625
    C.   .125
    D.   .25
    45) Dullco Manufacturing claims that its alkaline batteries last forty hours on average in a certain type of portable CD player. Tests on a random sample of 18 batteries showed a mean battery life of 37.8 hours with a standard deviation of 5.4 hours.
    In determining the p-value for reporting the study's findings, which of the following is true?
    A.   The p-value is equal to .05. B.   The p-value is greater than .05. C.   The p-value cannot be determined without specifying  . D.   The p-value is less than .05.
    46) William used a sample of 68 U.S. cities to estimate the relationship between Crime (annual property crimes per 100,000 persons) and Income (median income per capita). His estimated regression equation was Crime = 428 + .050 Income.
    Which outcomes would be likely in a bivariate regression on 45 randomly chosen U.S. cities in 2005 with
    Y = number of robberies in each city (thousands of robberies) and
    X = size of police force in each city (thousands of police)?
    A.   High R2 (due to city size). B.   Positive slope (due to city size).
    C.   No correlation. D.   Autocorrelation.
    47) Twelve randomly-chosen students were asked how many times they had missed class during a certain semester, with this result: 2, 1, 5, 1, 1, 3, 4, 3, 1, 1, 5, 18.
    For this sample, which measure of central tendency is least representative of the “typical” student?
    A.   Midrange
    B.   Mean C.   Mode D.   Median
               
    48) Likely reasons for inaccurate control limits would include which of the following?
    A.   Process variation was not zero, as expected. B.   The engineering parameter for variance is unknown.
    C.   There was insufficient preliminary sampling. D.   The engineers were underpaid for their work.
    49) You are faced with a linear programming objective function of:
    Max P = $20X + $30Y
    and constraints of:
    3X + 4Y = 24 (Constraint A)
    5X – Y = 18 (Constraint B)
    You discover that the shadow price for Constraint A is 7.5 and the shadow price for Constraint B is 0. Which of these statements is TRUE?
    A.   The most you would want to pay for an additional unit of A would be $7.50.
    B.   You can change quantities of X and Y at no cost for Constraint B. C.   For every additional unit of the objective function you create, the price of A rises by $7.50.
    D.   For every additional unit of the objective function you create, you lose 0 units of B.
               
    50) A project has three paths. A–B–C has a length of 25 days. A–D–C has a length of 15 days. Finally, A–E–C has a length of 20 days. Which one of the following statements is TRUE?
    A.   The expected duration of this project is 25 + 15 + 20 = 60 days.
    B.   A–D–C is the critical path. C.   The expected duration of this project is 25 days. D.   A–B–C has the most slack.
    51) Which one of the following statements concerning production and staffing plans is best?
    A.   A master production schedule is a projected statement of income, costs, and profits.
    B.   Aggregation can be performed along three dimensions: product families, labor, and time.
    C.   Production plans are based primarily on information from the master production plan.
    D.   A staffing plan is the intermediate link between the business plan and the master production schedule.
               
    52) While glancing over the sensitivity report, you note that the stitching labor has a shadow price of $10 and a lower limit of 24 hours with an upper limit of 36 hours. If your original right hand value for stitching labor was 30 hours, you know that:
    A.   you would lose $80 if one of your workers missed an entire 8 hour shift. B.   the next worker that offers to work an extra 8 hours should receive at least $80.
    C.   you would be willing pay up to $60 for someone to work another 6 hours.
    D.   you can send someone home 6 hours early and still pay them the $60 they would have earned while on the clock.

    53) The costs of delivering products in the _____ channel are much higher than delivering products in the _____ channel.
    A.   physical, digital B.   e-commerce, digital
    C.   physical, financial D.   digital, e-commerce
    E.   digital, physical
    54) When customers access a Web site and make purchases, they generate __________.
    A.   Tracking cookies B.   Web data C.   Information D.   Clickstream data
    E.   Hyperlink data
    55) _____ is the integration of economic, social, cultural, and ecological facets of life, enabled by information.
    A.   regionalization B.   globalization C.   nationalization D.   business environment
               
    56) Various organizations that promote fair and responsible use of information systems often develop __________.
    A.   a code of ethics B.   responsibility charters
    C.   a strategic plan D.   a mission statement E.   a goals outline
    57) What is _____ is not necessarily _____.
    A.   Illegal, unethical B.   Unethical, legal C.   Ethical, illegal D.   Unethical, illegal
    E.   Ethical, legal
    58) _____ provides users with a view of what is happening, where _____ addresses why it is happening.
    A.   Multidimensional data analysis, structured query language
    B.   Multidimensional data analysis, neural networks C.   Data mining, multidimensional data analysis D.   Data mining, expert system E.   Multidimensional data analysis, data mining
    59) Computer support is greatest for which of the following problems?
    A.   Semistructured and strategic planning B.   Semistructured and management control
    C.   Unstructured and operational control D.   Structured and operational control E.   Structured and management control
    60) The management cockpit best exemplifies which type of system?
    A.   Decision support system B.   Functional area information system
    C.   Expert system D.   Digital dashboard E.   Group decision support system
    61) _____ is the efficient and effective execution of specific tasks.
    A.   Operational control
    B.   Expertise C.   Management control
    D.   Strategic planning E.   Wisdom
    62) Geocoding is __________.
    A.   accessing geographical information B.   integrating maps with spatially oriented databases and other databases
    C.   integrating organizational transactions with spatially oriented databases D.   programming spatially oriented databases E.   encrypting spatial information
    63) At 8% compounded annually, how long will it take $750 to double?
    A.   48 months
    B.   6.5 years C.   9 years D.   12 years
    64) Which of the following represents an attempt to measure the earnings of the firm’s operations over a given time period?
    A.   Cash flow statement
    B.   Balance sheet C.   Income statement D.   Quarterly statement
               
    65) A machine costs $1,000, has a three-year life, and has an estimated salvage value of $100. It will generate after-tax annual cash flows (ACF) of $600 a year, starting next year. If your required rate of return for the project is 10%, what is the NPV of this investment? (Round your answerwer to the nearest $10.)
    A.   $570 B.   $490 C.   $900 D.   -$150
               
    66) Disadvantages of using current liabilities as opposed to long-term debt include:
    A.   higher cash flow exposure B.   greater risk of illiquidity, and uncertainty of interest costs
    C.   decreased risk of liquidity D.   certainty of interest costs E.   uncertainty of future liabilities
    67) Petrified Forest Skin Care, Inc. pays an annual perpetual dividend of $1.70 per share. If the stock is currently selling for $21.25 per share, what is the expected rate of return on this stock?
    A.   12.5% B.   36.13%
    C.   8.0% D.   13.6%
    68) Which of the following is most consistent with the hedging principle in working capital management?
    A.   Fixed assets should be financed with short-term notes payable. B.   Inventory should be financed with preferred stock. C.   Accounts receivable should be financed with short-term lines of credit.
    D.   Borrow on a floating rate basis to finance investments in permanent assets.
               
    69) An increase in future value can be caused by an increase in the __________.
    A.   original amount invested B.   annual interest rate and number of compounding periods
    C.   rate of return D.   dividends paid E.   starting value
    70) If the quote for a forward exchange contract is greater than the computed price, the forward contract is:
    A.   at equilibrium.
    B.   undervalued. C.   a good buy. D.   overvalued.
    71) Your company is considering an investment in a project which would require an initial outlay of $300,000 and produce expected cash flows in Years 1 through 5 of $87,385 per year. You have determined that the current after-tax cost of the firm’s capital (required rate of return) for each source of financing is as follows:
    Cost of debt     8%
    Cost of preferred stock           12%
    Cost of common stock            16%
    Long-term debt currently makes up 20% of the capital structure, preferred stock 10%, and common stock 70%. What is the net present value of this project?
    A.   $1,568
    B.   $871 C.   $1,241
    D.   $463
    72) Suppose you determine that the NPV of a project is $1,525,855. What does that mean?
    A.   The project’s IRR would have to be less that the firm’s discount rate. B.   The project would add value to the firm. C.   Under all conditions, the project’s payback would be less than the profitability index.
    D.   In all cases, investing in this project would be better than investing in a project that has an NPV of $850,000.
               
    73) The common stockholders are most concerned with:
    A.   the spread between the return generated on new investments and the investor’s required rate of return.
    B.   the size of the firm’s beginning earnings per share. C.   the risk of the investment. D.   the percentage of profits retained.
    74) PepsiCo calculates unlevered betas for each peer group in order to:
    A.   eliminate different financial risks.
    B.   eliminate competitive factors. C.   eliminate judgment factors. D.   eliminate different business risks.
    75) Which of the following best represents operating income?
    A.   Income from discontinued operations
    B.   Earnings before interest and taxes C.   Income from capital gains D.   Income after financing activities
    76) In comparison to the buying of final consumers, the purchasing of organizational buyers:
    A.   is even less predictable. B.   leans basically toward economy, quality, and dependability.
    C.   is always emotional. D.   is strictly economic and not at all emotional. E.   is always based on competitive bids from multiple suppliers.
               
    77) The basic objective of the U.S. market-directed economic system is to:
    A.   achieve an annual growth rate of at least 10 percent. B.   provide each person with an equal share of the economic output.
    C.   make the most efficient use of the country's resources. D.   minimize inflation. E.   satisfy consumer needs as they--the consumers--see them.
    78) Comparing GDP for foreign countries can help a marketing manager evaluate potential markets if the manager remembers that:
    A.   GDP measures show people's tendency to buy particular products. B.   income tends to be evenly distributed among consumers in most countries. C.   GDP estimates may not be very accurate for very different cultures and economies.
    D.   Other countries most likely don’t use the US Dollar as their primary currency.
    E.   GDP measures show the degree of competition in a market.
    79) A firm's "marketing mix" decision areas would NOT include:
    A.   Promotion.
    B.   People. C.   Price. D.   Place. E.   Product.
    80) __________ is a marketing management aid which refers to how customers think about proposed and/or present brands in a market.
    A.   Brand familiarity B.   Positioning
    C.   Market scanning D.   Customer relationship management (CRM)
    E.   Market segmentation
    81) The "four Ps" of a marketing mix are:
    A.   Production, Personnel, Price, and Physical Distribution
    B.   Promotion, Production, Price, and People C.   Potential customers, Product, Price, and Personal Selling
    D.   Product, Price, Promotion, and Profit E.   Product, Place, Promotion, and Price
    82) When evaluating macro-marketing:
    A.   the evaluation is necessarily subjective. B.   the best approach is to consider the profit generated by individual firms within the overall system.
    C.   one must determine how efficiently the society's resources are used. D.   one must consider the society’s role in the marketing system. E.   one must consider each individual firm's role in the marketing system.
    83) A cluster analysis of the "toothpaste market" would probably show that:
    A.   the broad product-market can be served effectively with one marketing mix.
    B.   most consu
              52) While glancing over the sensitivity report, you note that the stitching labor has a shadow price of $10 and a lower limit of 24 hours with an upper limit of 36 hours. If your original right hand value for stitching labor was 30 hours, you know that: A. you would lose $80 if one of your workers missed an entire 8 hour shift. B. the next worker that offers to work an extra 8 hours should receive at least $80. C. you would be willing pay up to $60 for someone to work another 6 hours. D.         

    BUS/475 Guide 4


    1) The cost principle requires that when assets are acquired, they be recorded at __________.
    A.   list price B.   selling price C.   exchange price paid D.   appraisal value
    2) "Generally accepted" in the phrase generally accepted accounting principles means that the principles __________.
    A.   have been approved for use by the managements of business firms
    B.   have been approved by the Internal Revenue Service C.   have substantial authoritative support D.   are proven theories of accounting
    3) The standards and rules that are recognized as a general guide for financial reporting are called __________.
    A.   standards of financial reporting B.   operating guidelines C.   generally accepted accounting principles D.   generally accepted accounting standards
    4) Sam's Used Cars uses the specific identification method of costing inventory. During March, Sam purchased three cars for $6,000, $7,500, and $9,750, respectively. During March, two cars are sold for $9,000 each. Sam determines that at March 31, the $9,750 car is still on hand. What is Sam’s gross profit for March?
    A.   $8,250
    B.   $750 C.   $4,500
    D.   $5,250
               
    5) Hess, Inc. sells a single product with a contribution margin of $12 per unit and fixed costs of $74,400 and sales for the current year of $100,000. How much is Hess’s break even point?
    A.   2,133 units
    B.   6,200 units
    C.   $25,600 D.   4,600 units
               
    6) As Plant Controller, you are trying to determine which costs over which you have the most control on a day to day basis. Your goal is to achieve better profitability. The Plant Operations Manager suggests that overhead is the easiest area to directly reduce costs. Which of the following items would be classified as manufacturing overhead?
    A.   The western division’s vice president’s salary
    B.   Cost of landscaping the corporate office C.   General corporate liability insurance D.   Factory janitor
    7) What is the preparation of reports for each level of responsibility in the company’s organization chart called?
    A.   Master budgeting analysis
    B.   Exception reporting C.   Responsibility reporting
    D.   Static reporting
    8) Disney’s variable costs are 30% of sales. The company is contemplating an advertising campaign that will cost $22,000. If sales are expected to increase $40,000, by how much will the company's net income increase?
    A.   $6,000 B.   $12,000
    C.   $28,000
    D.   $18,000
               
    9) The cost of an asset and its fair market value are __________.
    A.   never the same B.   irrelevant when the asset is used by the business in its operations
    C.   the same on the date of acquisition D.   the same when the asset is sold
    10) Which one of the following is a product cost?
    A.   Indirect labor B.   Sales person’s salaries
    C.   Advertising costs D.   Office salaries
    11) What exists when budgeted costs exceed actual results?
    A.   A budgeting error B.   An unfavorable difference
    C.   An excess profit D.   A favorable difference
    12) The income statement and balance sheet columns of Pine Company's worksheet reflects the following totals:
                            Income Statement                  Balance Sheet
                Dr.       Cr.                   Dr.       Cr.
    Totals              $58,000           $48,000                       $34,000           $44,000
               

    Closing entries are necessary for __________.
    A.   permanent accounts only B.   both permanent and temporary accounts
    C.   permanent or real accounts only D.   temporary accounts only
    13) Managerial accounting __________.
    A.   is concerned with costing products B.   pertains to the entity as a whole and is highly aggregated
    C.   places emphasis on special-purpose information D.   is governed by generally accepted accounting principles
               
    14) H55 Company sells two products, beer and wine. Beer has a 10 percent profit margin and wine has a 12 percent profit margin. Beer has a 27 percent contribution margin and wine has a 25 percent contribution margin. If other factors are equal, which product should H55 push to customers?
    A.   Beer B.   Selling either results in the same additional income for the company
    C.   It should sell an equal quantity of both D.   Wine
    15) Lekeisha's income exceeds her expenditures. Lekeisha is a __________.
    A.   saver who demands money from the financial system B.   borrower who demands money from the financial system
    C.   borrower who supplies money to the financial system D.   saver who supplies money to the financial system
    16) Maurice receives $100 as a birthday gift. In deciding how to spend the money, he narrows his options down to four choices: Option A, Option B, Option C, and Option D. Each option costs $100. Finally he decides on Option B. The opportunity cost of this decision is __________.
    A.   the value to Maurice of the option he would have chosen had Option B not been available
    B.   $100 C.   $300 D.   the value to Maurice of Options A, C and D combined
    17) A production possibilities frontier will be a straight line if __________.
    A.   the economy is producing efficiently B.   the economy is engaged in trade with at least one other economy C.   increasing the production of one good by x units entails no opportunity cost in terms of the other good
    D.   increasing the production of one good by x units entails a constant opportunity cost in terms of the other good
               
    18) In economics, the cost of something is __________.
    A.   what you give up to get it B.   often impossible to quantify, even in principle C.   the dollar amount of obtaining it D.   always measured in units of time given up to get it
               
    19) A tax on an imported good is called a __________.
    A.   supply tax
    B.   trade tax C.   quota D.   tariff
    20) Which of the following statements about GDP is correct?
    A.   GDP is to a nation’s economy as household income is to a household. B.   GDP increases if the total population increases. C.   GDP measures two things at once: the total income of everyone in the economy and the unemployment rate.
    D.   Money continuously flows from households to government and then back to households, and GDP measures this flow of money.
               
    21) In computing GDP, market prices are used to value final goods and services because __________.
    A.   if market prices are out of line with how people value goods, the government sets price ceilings and price floors
    B.   Market prices are not used in computing GDP C.   market prices reflect the values of goods and services D.   market prices do not change much over time, so it is easy to make comparisons between years

    22) Which of the following statements about GDP is correct?
    A.   Nominal GDP values production at market prices, whereas real GDP values production at the cost of the resources used in the production process.
    B.   Nominal GDP consistently underestimates the value of production, whereas real GDP consistently overestimates the value of production.
    C.   Nominal GDP values production at current prices, whereas real GDP values production at constant prices.
    D.   Nominal GDP values production at constant prices, whereas real GDP values production at current prices.
               
    23) Which of the following is not correct?
    A.   The U.S. debt per-person is large compared with average lifetime income.
    B.   In 2005, the U.S. government had a deficit. C.   A potential cost of deficits is that they reduce national saving, thereby reducing growth of the capital stock and output growth.
    D.   Deficits give people the opportunity to consume at the expense of their children, but they do not require them to do so.
               
    24) The part of the balance of payments account that lists all long-term flows of payments is called the:
    A.   balance of trade. B.   financial and capital account.
    C.   government financial account.
    D.   current account.
    25) Edward Prescott and Finn Kydland won the Nobel Prize in Economics in 2004. One of their contributions was to argue that if a central bank could convince people to expect zero inflation, then the Fed would be tempted to raise output by increasing inflation. This possibility is known as __________.
    A.   the sacrifice ratio dilemma B.   the monetary policy reaction lag
    C.   the time inconsistency of policy
    D.   inflation targeting
    26) In general, the longest lag for __________.
    A.   fiscal policy is the time it takes to change policy, while for monetary policy the longest lag is the time it takes for policy to affect aggregate demand
    B.   both fiscal and monetary policy is the time it takes for policy to affect aggregate demand
    C.   monetary policy is the time it takes to change policy, while for fiscal policy the longest lag is the time it takes for policy to affect aggregate demand
    D.   both fiscal and monetary policy is the time it takes to change policy
    27) Consider two items that might be included in GDP: (1) The estimated rental value of owner-occupied housing; and (2) purchases of newly-constructed homes. How are these two items accounted for when GDP is calculated?
    A.   Only item (2) is included in GDP and it is included in the investment component.
    B.   Item (1) is included in the consumption component, while item (2) is included in the investment component.
    C.   Item (1) is included in the investment component, while item (2) is included in the consumption component.
    D.   Both item (1) and item (2) are included in the consumption component of GDP.

    28) Managers will utilize __________ skills with increasing frequency as they rise within an organization.
    A.   Professional B.   Interpersonal and communication
    C.   Technical D.   Professional E.   Conceptual and decision
    29) Which of these represent skills that managers need?
    A.   Interpersonal, quantitative, and professional B.   Technical, interpersonal & communication and conceptual & decision making
    C.   Professional, technical and interpersonal & communication D.   Conceptual & decision making, professional and technical E.   Interpersonal & communication, conceptual & decision making and professional
               
    30) Building a dynamic organization is another way of describing which function of management?
    A.   Staffing B.   Organizing
    C.   Leading D.   Controlling
    E.   Planning
    31) Your roommate is interested in starting a business and everybody has been giving him different information about being an entrepreneur. Since you have been studying about entrepreneurship and new ventures, which of these would you tell him is true?
    A.   Anyone can start a business B.   All entrepreneurs need venture capital in order to get started C.   Successful entrepreneurs take very careful, calculated risks D.   Entrepreneurs are their own bosses and completely independent
    E.   Money should not be considered a start-up ingredient
    32) The term used to refer to all kinds of differences including religious affiliation, age, disability status, economic class and lifestyle in addition to gender, race, ethnicity and nationality is:
    A.   Diversity B.   Managerial ethics
    C.   Recruiting D.   Employment E.   Selection
    33) A manager's ability to stimulate people to be high performers is referred to as:
    A.   Planning B.   Supervising
    C.   Controlling
    D.   Organizing E.   Leading
    34) A series of quality standards developed by a committee working under the International Organization for Standardization to improve total quality in all businesses for the benefit of both producers and consumers is:
    A.   Total quality management B.   Customer-based integration C.   Computer-integrated manufacturing (CIM)
    D.   Just-in-time control (JIT)
    E.   ISO 9000
    35) Japanese manufacturers' kaizen (continuous improvement) programs enable them to maintain:
    A.   A strategic alliance B.   A homogeneous workforce C.   Positive working relationships with all employees
    D.   A Learning advantage over their competition E.   Larger, faster facilities
    36) Listening to employee suggestions, gaining support for organizational objectives and fostering an atmosphere of teamwork are all considered:
    A.   Technical skills B.   Conceptual C.   Professional skills D.   Interpersonal/communication skills
    E.   Diagnostic skills
    37) The basic components of an effective sexual harassment policy include the following EXCEPT:
    A.   To develop an organization wide policy on sexual harassment B.   To establish a means for ongoing training C.   To act immediately when employees complain of sexual harassment
    D.   To establish a performance appraisal system E.   To establish a formal complaint procedure
    38) Teams that operate separately from the regular work structure and exist temporarily are known as:
    A.   Management teams B.   Transnational teams
    C.   Self-managed teams
    D.   Parallel teams E.   Self-designing teams
               
    39) The Aquatic Center, Inc. periodically reviews the goals of the company. During the process, The Aquatic Center managers analyze their current strategies as compared to their competitors, determine goals that they will pursue and decide upon specific actions for each area of the company to take in pursuit of these goals. The Aquatic Center managers have been engaged in the management function of:
    A.   Goal Coordination
    B.   Controlling C.   Organizing D.   Staffing E.   Planning
    40) As related to managing of human resources, diversity refers to:
    A.   Differences in demographics (such as age, race, gender, disability status, lifestyle, veteran status, educational level, etc.)
    B.   Differences in pay methods (such as hourly, salaried, overtime, hazard-pay, commissioned, etc.)
    C.   Differences in employee benefit plans (such as pensions, insurance, vacations, memberships, etc.)
    D.   Differences in retention strategies (such as training, hiring, incentives, etc) E.   Differences in recruiting methods (such as newspapers, schools, flyers, magazines, agencies, etc.)
               
    41) __________ is the process of working with people and resources to accomplish organizational goals.
    A.   Controlling B.   Decision making
    C.   Planning D.   Supervising E.   Management
    42) Twelve randomly-chosen students were asked how many times they had missed class during a certain semester, with this result: 2, 1, 5, 1, 1, 3, 4, 3, 1, 1, 5, 18.
    For this sample, the median is _____.
    A.   3 B.   3.5
    C.   2.5
    D.   2
    43) Use the following table to answer question:
     P(S | W) is approximately _____.
    A.   .40
    B.   .30
    C.   .12
    D.   .58
               
    44) Use the following table to answer question:
     P(M  A) is approximately _____.
    A.   .50 B.   .625
    C.   .125
    D.   .25
    45) Dullco Manufacturing claims that its alkaline batteries last forty hours on average in a certain type of portable CD player. Tests on a random sample of 18 batteries showed a mean battery life of 37.8 hours with a standard deviation of 5.4 hours.
    In determining the p-value for reporting the study's findings, which of the following is true?
    A.   The p-value is equal to .05. B.   The p-value is greater than .05. C.   The p-value cannot be determined without specifying  . D.   The p-value is less than .05.
    46) William used a sample of 68 U.S. cities to estimate the relationship between Crime (annual property crimes per 100,000 persons) and Income (median income per capita). His estimated regression equation was Crime = 428 + .050 Income.
    Which outcomes would be likely in a bivariate regression on 45 randomly chosen U.S. cities in 2005 with
    Y = number of robberies in each city (thousands of robberies) and
    X = size of police force in each city (thousands of police)?
    A.   High R2 (due to city size). B.   Positive slope (due to city size).
    C.   No correlation. D.   Autocorrelation.
    47) Twelve randomly-chosen students were asked how many times they had missed class during a certain semester, with this result: 2, 1, 5, 1, 1, 3, 4, 3, 1, 1, 5, 18.
    For this sample, which measure of central tendency is least representative of the “typical” student?
    A.   Midrange
    B.   Mean C.   Mode D.   Median
               
    48) Likely reasons for inaccurate control limits would include which of the following?
    A.   Process variation was not zero, as expected. B.   The engineering parameter for variance is unknown.
    C.   There was insufficient preliminary sampling. D.   The engineers were underpaid for their work.
    49) You are faced with a linear programming objective function of:
    Max P = $20X + $30Y
    and constraints of:
    3X + 4Y = 24 (Constraint A)
    5X – Y = 18 (Constraint B)
    You discover that the shadow price for Constraint A is 7.5 and the shadow price for Constraint B is 0. Which of these statements is TRUE?
    A.   The most you would want to pay for an additional unit of A would be $7.50.
    B.   You can change quantities of X and Y at no cost for Constraint B. C.   For every additional unit of the objective function you create, the price of A rises by $7.50.
    D.   For every additional unit of the objective function you create, you lose 0 units of B.
               
    50) A project has three paths. A–B–C has a length of 25 days. A–D–C has a length of 15 days. Finally, A–E–C has a length of 20 days. Which one of the following statements is TRUE?
    A.   The expected duration of this project is 25 + 15 + 20 = 60 days.
    B.   A–D–C is the critical path. C.   The expected duration of this project is 25 days. D.   A–B–C has the most slack.
    51) Which one of the following statements concerning production and staffing plans is best?
    A.   A master production schedule is a projected statement of income, costs, and profits.
    B.   Aggregation can be performed along three dimensions: product families, labor, and time.
    C.   Production plans are based primarily on information from the master production plan.
    D.   A staffing plan is the intermediate link between the business plan and the master production schedule.
               
    52) While glancing over the sensitivity report, you note that the stitching labor has a shadow price of $10 and a lower limit of 24 hours with an upper limit of 36 hours. If your original right hand value for stitching labor was 30 hours, you know that:
    A.   you would lose $80 if one of your workers missed an entire 8 hour shift. B.   the next worker that offers to work an extra 8 hours should receive at least $80.
    C.   you would be willing pay up to $60 for someone to work another 6 hours.
    D.   you can send someone home 6 hours early and still pay them the $60 they would have earned while on the clock.

    53) The costs of delivering products in the _____ channel are much higher than delivering products in the _____ channel.
    A.   physical, digital B.   e-commerce, digital
    C.   physical, financial D.   digital, e-commerce
    E.   digital, physical
    54) When customers access a Web site and make purchases, they generate __________.
    A.   Tracking cookies B.   Web data C.   Information D.   Clickstream data
    E.   Hyperlink data
    55) _____ is the integration of economic, social, cultural, and ecological facets of life, enabled by information.
    A.   regionalization B.   globalization C.   nationalization D.   business environment
               
    56) Various organizations that promote fair and responsible use of information systems often develop __________.
    A.   a code of ethics B.   responsibility charters
    C.   a strategic plan D.   a mission statement E.   a goals outline
    57) What is _____ is not necessarily _____.
    A.   Illegal, unethical B.   Unethical, legal C.   Ethical, illegal D.   Unethical, illegal
    E.   Ethical, legal
    58) _____ provides users with a view of what is happening, where _____ addresses why it is happening.
    A.   Multidimensional data analysis, structured query language
    B.   Multidimensional data analysis, neural networks C.   Data mining, multidimensional data analysis D.   Data mining, expert system E.   Multidimensional data analysis, data mining
    59) Computer support is greatest for which of the following problems?
    A.   Semistructured and strategic planning B.   Semistructured and management control
    C.   Unstructured and operational control D.   Structured and operational control E.   Structured and management control
    60) The management cockpit best exemplifies which type of system?
    A.   Decision support system B.   Functional area information system
    C.   Expert system D.   Digital dashboard E.   Group decision support system
    61) _____ is the efficient and effective execution of specific tasks.
    A.   Operational control
    B.   Expertise C.   Management control
    D.   Strategic planning E.   Wisdom
    62) Geocoding is __________.
    A.   accessing geographical information B.   integrating maps with spatially oriented databases and other databases
    C.   integrating organizational transactions with spatially oriented databases D.   programming spatially oriented databases E.   encrypting spatial information
    63) At 8% compounded annually, how long will it take $750 to double?
    A.   48 months
    B.   6.5 years C.   9 years D.   12 years
    64) Which of the following represents an attempt to measure the earnings of the firm’s operations over a given time period?
    A.   Cash flow statement
    B.   Balance sheet C.   Income statement D.   Quarterly statement
               
    65) A machine costs $1,000, has a three-year life, and has an estimated salvage value of $100. It will generate after-tax annual cash flows (ACF) of $600 a year, starting next year. If your required rate of return for the project is 10%, what is the NPV of this investment? (Round your answerwer to the nearest $10.)
    A.   $570 B.   $490 C.   $900 D.   -$150
               
    66) Disadvantages of using current liabilities as opposed to long-term debt include:
    A.   higher cash flow exposure B.   greater risk of illiquidity, and uncertainty of interest costs
    C.   decreased risk of liquidity D.   certainty of interest costs E.   uncertainty of future liabilities
    67) Petrified Forest Skin Care, Inc. pays an annual perpetual dividend of $1.70 per share. If the stock is currently selling for $21.25 per share, what is the expected rate of return on this stock?
    A.   12.5% B.   36.13%
    C.   8.0% D.   13.6%
    68) Which of the following is most consistent with the hedging principle in working capital management?
    A.   Fixed assets should be financed with short-term notes payable. B.   Inventory should be financed with preferred stock. C.   Accounts receivable should be financed with short-term lines of credit.
    D.   Borrow on a floating rate basis to finance investments in permanent assets.
               
    69) An increase in future value can be caused by an increase in the __________.
    A.   original amount invested B.   annual interest rate and number of compounding periods
    C.   rate of return D.   dividends paid E.   starting value
    70) If the quote for a forward exchange contract is greater than the computed price, the forward contract is:
    A.   at equilibrium.
    B.   undervalued. C.   a good buy. D.   overvalued.
    71) Your company is considering an investment in a project which would require an initial outlay of $300,000 and produce expected cash flows in Years 1 through 5 of $87,385 per year. You have determined that the current after-tax cost of the firm’s capital (required rate of return) for each source of financing is as follows:
    Cost of debt     8%
    Cost of preferred stock           12%
    Cost of common stock            16%
    Long-term debt currently makes up 20% of the capital structure, preferred stock 10%, and common stock 70%. What is the net present value of this project?
    A.   $1,568
    B.   $871 C.   $1,241
    D.   $463
    72) Suppose you determine that the NPV of a project is $1,525,855. What does that mean?
    A.   The project’s IRR would have to be less that the firm’s discount rate. B.   The project would add value to the firm. C.   Under all conditions, the project’s payback would be less than the profitability index.
    D.   In all cases, investing in this project would be better than investing in a project that has an NPV of $850,000.
               
    73) The common stockholders are most concerned with:
    A.   the spread between the return generated on new investments and the investor’s required rate of return.
    B.   the size of the firm’s beginning earnings per share. C.   the risk of the investment. D.   the percentage of profits retained.
    74) PepsiCo calculates unlevered betas for each peer group in order to:
    A.   eliminate different financial risks.
    B.   eliminate competitive factors. C.   eliminate judgment factors. D.   eliminate different business risks.
    75) Which of the following best represents operating income?
    A.   Income from discontinued operations
    B.   Earnings before interest and taxes C.   Income from capital gains D.   Income after financing activities
    76) In comparison to the buying of final consumers, the purchasing of organizational buyers:
    A.   is even less predictable. B.   leans basically toward economy, quality, and dependability.
    C.   is always emotional. D.   is strictly economic and not at all emotional. E.   is always based on competitive bids from multiple suppliers.
               
    77) The basic objective of the U.S. market-directed economic system is to:
    A.   achieve an annual growth rate of at least 10 percent. B.   provide each person with an equal share of the economic output.
    C.   make the most efficient use of the country's resources. D.   minimize inflation. E.   satisfy consumer needs as they--the consumers--see them.
    78) Comparing GDP for foreign countries can help a marketing manager evaluate potential markets if the manager remembers that:
    A.   GDP measures show people's tendency to buy particular products. B.   income tends to be evenly distributed among consumers in most countries. C.   GDP estimates may not be very accurate for very different cultures and economies.
    D.   Other countries most likely don’t use the US Dollar as their primary currency.
    E.   GDP measures show the degree of competition in a market.
    79) A firm's "marketing mix" decision areas would NOT include:
    A.   Promotion.
    B.   People. C.   Price. D.   Place. E.   Product.
    80) __________ is a marketing management aid which refers to how customers think about proposed and/or present brands in a market.
    A.   Brand familiarity B.   Positioning
    C.   Market scanning D.   Customer relationship management (CRM)
    E.   Market segmentation
    81) The "four Ps" of a marketing mix are:
    A.   Production, Personnel, Price, and Physical Distribution
    B.   Promotion, Production, Price, and People C.   Potential customers, Product, Price, and Personal Selling
    D.   Product, Price, Promotion, and Profit E.   Product, Place, Promotion, and Price
    82) When evaluating macro-marketing:
    A.   the evaluation is necessarily subjective. B.   the best approach is to consider the profit generated by individual firms within the overall system.
    C.   one must determine how efficiently the society's resources are used. D.   one must consider the society’s role in the marketing system. E.   one must consider each individual firm's role in the marketing system.
    83) A cluster analysis of the "toothpaste market" would probably show that:
    A.   the broad product-market can be served effectively with one marketing mix.
    B.   most consu
              53) The costs of delivering products in the _____ channel are much higher than delivering products in the _____ channel. A. physical, digital B. e-commerce, digital C. physical, financial D. digital, e-commerce E. digital, physical        

    BUS/475 Guide 4


    1) The cost principle requires that when assets are acquired, they be recorded at __________.
    A.   list price B.   selling price C.   exchange price paid D.   appraisal value
    2) "Generally accepted" in the phrase generally accepted accounting principles means that the principles __________.
    A.   have been approved for use by the managements of business firms
    B.   have been approved by the Internal Revenue Service C.   have substantial authoritative support D.   are proven theories of accounting
    3) The standards and rules that are recognized as a general guide for financial reporting are called __________.
    A.   standards of financial reporting B.   operating guidelines C.   generally accepted accounting principles D.   generally accepted accounting standards
    4) Sam's Used Cars uses the specific identification method of costing inventory. During March, Sam purchased three cars for $6,000, $7,500, and $9,750, respectively. During March, two cars are sold for $9,000 each. Sam determines that at March 31, the $9,750 car is still on hand. What is Sam’s gross profit for March?
    A.   $8,250
    B.   $750 C.   $4,500
    D.   $5,250
               
    5) Hess, Inc. sells a single product with a contribution margin of $12 per unit and fixed costs of $74,400 and sales for the current year of $100,000. How much is Hess’s break even point?
    A.   2,133 units
    B.   6,200 units
    C.   $25,600 D.   4,600 units
               
    6) As Plant Controller, you are trying to determine which costs over which you have the most control on a day to day basis. Your goal is to achieve better profitability. The Plant Operations Manager suggests that overhead is the easiest area to directly reduce costs. Which of the following items would be classified as manufacturing overhead?
    A.   The western division’s vice president’s salary
    B.   Cost of landscaping the corporate office C.   General corporate liability insurance D.   Factory janitor
    7) What is the preparation of reports for each level of responsibility in the company’s organization chart called?
    A.   Master budgeting analysis
    B.   Exception reporting C.   Responsibility reporting
    D.   Static reporting
    8) Disney’s variable costs are 30% of sales. The company is contemplating an advertising campaign that will cost $22,000. If sales are expected to increase $40,000, by how much will the company's net income increase?
    A.   $6,000 B.   $12,000
    C.   $28,000
    D.   $18,000
               
    9) The cost of an asset and its fair market value are __________.
    A.   never the same B.   irrelevant when the asset is used by the business in its operations
    C.   the same on the date of acquisition D.   the same when the asset is sold
    10) Which one of the following is a product cost?
    A.   Indirect labor B.   Sales person’s salaries
    C.   Advertising costs D.   Office salaries
    11) What exists when budgeted costs exceed actual results?
    A.   A budgeting error B.   An unfavorable difference
    C.   An excess profit D.   A favorable difference
    12) The income statement and balance sheet columns of Pine Company's worksheet reflects the following totals:
                            Income Statement                  Balance Sheet
                Dr.       Cr.                   Dr.       Cr.
    Totals              $58,000           $48,000                       $34,000           $44,000
               

    Closing entries are necessary for __________.
    A.   permanent accounts only B.   both permanent and temporary accounts
    C.   permanent or real accounts only D.   temporary accounts only
    13) Managerial accounting __________.
    A.   is concerned with costing products B.   pertains to the entity as a whole and is highly aggregated
    C.   places emphasis on special-purpose information D.   is governed by generally accepted accounting principles
               
    14) H55 Company sells two products, beer and wine. Beer has a 10 percent profit margin and wine has a 12 percent profit margin. Beer has a 27 percent contribution margin and wine has a 25 percent contribution margin. If other factors are equal, which product should H55 push to customers?
    A.   Beer B.   Selling either results in the same additional income for the company
    C.   It should sell an equal quantity of both D.   Wine
    15) Lekeisha's income exceeds her expenditures. Lekeisha is a __________.
    A.   saver who demands money from the financial system B.   borrower who demands money from the financial system
    C.   borrower who supplies money to the financial system D.   saver who supplies money to the financial system
    16) Maurice receives $100 as a birthday gift. In deciding how to spend the money, he narrows his options down to four choices: Option A, Option B, Option C, and Option D. Each option costs $100. Finally he decides on Option B. The opportunity cost of this decision is __________.
    A.   the value to Maurice of the option he would have chosen had Option B not been available
    B.   $100 C.   $300 D.   the value to Maurice of Options A, C and D combined
    17) A production possibilities frontier will be a straight line if __________.
    A.   the economy is producing efficiently B.   the economy is engaged in trade with at least one other economy C.   increasing the production of one good by x units entails no opportunity cost in terms of the other good
    D.   increasing the production of one good by x units entails a constant opportunity cost in terms of the other good
               
    18) In economics, the cost of something is __________.
    A.   what you give up to get it B.   often impossible to quantify, even in principle C.   the dollar amount of obtaining it D.   always measured in units of time given up to get it
               
    19) A tax on an imported good is called a __________.
    A.   supply tax
    B.   trade tax C.   quota D.   tariff
    20) Which of the following statements about GDP is correct?
    A.   GDP is to a nation’s economy as household income is to a household. B.   GDP increases if the total population increases. C.   GDP measures two things at once: the total income of everyone in the economy and the unemployment rate.
    D.   Money continuously flows from households to government and then back to households, and GDP measures this flow of money.
               
    21) In computing GDP, market prices are used to value final goods and services because __________.
    A.   if market prices are out of line with how people value goods, the government sets price ceilings and price floors
    B.   Market prices are not used in computing GDP C.   market prices reflect the values of goods and services D.   market prices do not change much over time, so it is easy to make comparisons between years

    22) Which of the following statements about GDP is correct?
    A.   Nominal GDP values production at market prices, whereas real GDP values production at the cost of the resources used in the production process.
    B.   Nominal GDP consistently underestimates the value of production, whereas real GDP consistently overestimates the value of production.
    C.   Nominal GDP values production at current prices, whereas real GDP values production at constant prices.
    D.   Nominal GDP values production at constant prices, whereas real GDP values production at current prices.
               
    23) Which of the following is not correct?
    A.   The U.S. debt per-person is large compared with average lifetime income.
    B.   In 2005, the U.S. government had a deficit. C.   A potential cost of deficits is that they reduce national saving, thereby reducing growth of the capital stock and output growth.
    D.   Deficits give people the opportunity to consume at the expense of their children, but they do not require them to do so.
               
    24) The part of the balance of payments account that lists all long-term flows of payments is called the:
    A.   balance of trade. B.   financial and capital account.
    C.   government financial account.
    D.   current account.
    25) Edward Prescott and Finn Kydland won the Nobel Prize in Economics in 2004. One of their contributions was to argue that if a central bank could convince people to expect zero inflation, then the Fed would be tempted to raise output by increasing inflation. This possibility is known as __________.
    A.   the sacrifice ratio dilemma B.   the monetary policy reaction lag
    C.   the time inconsistency of policy
    D.   inflation targeting
    26) In general, the longest lag for __________.
    A.   fiscal policy is the time it takes to change policy, while for monetary policy the longest lag is the time it takes for policy to affect aggregate demand
    B.   both fiscal and monetary policy is the time it takes for policy to affect aggregate demand
    C.   monetary policy is the time it takes to change policy, while for fiscal policy the longest lag is the time it takes for policy to affect aggregate demand
    D.   both fiscal and monetary policy is the time it takes to change policy
    27) Consider two items that might be included in GDP: (1) The estimated rental value of owner-occupied housing; and (2) purchases of newly-constructed homes. How are these two items accounted for when GDP is calculated?
    A.   Only item (2) is included in GDP and it is included in the investment component.
    B.   Item (1) is included in the consumption component, while item (2) is included in the investment component.
    C.   Item (1) is included in the investment component, while item (2) is included in the consumption component.
    D.   Both item (1) and item (2) are included in the consumption component of GDP.

    28) Managers will utilize __________ skills with increasing frequency as they rise within an organization.
    A.   Professional B.   Interpersonal and communication
    C.   Technical D.   Professional E.   Conceptual and decision
    29) Which of these represent skills that managers need?
    A.   Interpersonal, quantitative, and professional B.   Technical, interpersonal & communication and conceptual & decision making
    C.   Professional, technical and interpersonal & communication D.   Conceptual & decision making, professional and technical E.   Interpersonal & communication, conceptual & decision making and professional
               
    30) Building a dynamic organization is another way of describing which function of management?
    A.   Staffing B.   Organizing
    C.   Leading D.   Controlling
    E.   Planning
    31) Your roommate is interested in starting a business and everybody has been giving him different information about being an entrepreneur. Since you have been studying about entrepreneurship and new ventures, which of these would you tell him is true?
    A.   Anyone can start a business B.   All entrepreneurs need venture capital in order to get started C.   Successful entrepreneurs take very careful, calculated risks D.   Entrepreneurs are their own bosses and completely independent
    E.   Money should not be considered a start-up ingredient
    32) The term used to refer to all kinds of differences including religious affiliation, age, disability status, economic class and lifestyle in addition to gender, race, ethnicity and nationality is:
    A.   Diversity B.   Managerial ethics
    C.   Recruiting D.   Employment E.   Selection
    33) A manager's ability to stimulate people to be high performers is referred to as:
    A.   Planning B.   Supervising
    C.   Controlling
    D.   Organizing E.   Leading
    34) A series of quality standards developed by a committee working under the International Organization for Standardization to improve total quality in all businesses for the benefit of both producers and consumers is:
    A.   Total quality management B.   Customer-based integration C.   Computer-integrated manufacturing (CIM)
    D.   Just-in-time control (JIT)
    E.   ISO 9000
    35) Japanese manufacturers' kaizen (continuous improvement) programs enable them to maintain:
    A.   A strategic alliance B.   A homogeneous workforce C.   Positive working relationships with all employees
    D.   A Learning advantage over their competition E.   Larger, faster facilities
    36) Listening to employee suggestions, gaining support for organizational objectives and fostering an atmosphere of teamwork are all considered:
    A.   Technical skills B.   Conceptual C.   Professional skills D.   Interpersonal/communication skills
    E.   Diagnostic skills
    37) The basic components of an effective sexual harassment policy include the following EXCEPT:
    A.   To develop an organization wide policy on sexual harassment B.   To establish a means for ongoing training C.   To act immediately when employees complain of sexual harassment
    D.   To establish a performance appraisal system E.   To establish a formal complaint procedure
    38) Teams that operate separately from the regular work structure and exist temporarily are known as:
    A.   Management teams B.   Transnational teams
    C.   Self-managed teams
    D.   Parallel teams E.   Self-designing teams
               
    39) The Aquatic Center, Inc. periodically reviews the goals of the company. During the process, The Aquatic Center managers analyze their current strategies as compared to their competitors, determine goals that they will pursue and decide upon specific actions for each area of the company to take in pursuit of these goals. The Aquatic Center managers have been engaged in the management function of:
    A.   Goal Coordination
    B.   Controlling C.   Organizing D.   Staffing E.   Planning
    40) As related to managing of human resources, diversity refers to:
    A.   Differences in demographics (such as age, race, gender, disability status, lifestyle, veteran status, educational level, etc.)
    B.   Differences in pay methods (such as hourly, salaried, overtime, hazard-pay, commissioned, etc.)
    C.   Differences in employee benefit plans (such as pensions, insurance, vacations, memberships, etc.)
    D.   Differences in retention strategies (such as training, hiring, incentives, etc) E.   Differences in recruiting methods (such as newspapers, schools, flyers, magazines, agencies, etc.)
               
    41) __________ is the process of working with people and resources to accomplish organizational goals.
    A.   Controlling B.   Decision making
    C.   Planning D.   Supervising E.   Management
    42) Twelve randomly-chosen students were asked how many times they had missed class during a certain semester, with this result: 2, 1, 5, 1, 1, 3, 4, 3, 1, 1, 5, 18.
    For this sample, the median is _____.
    A.   3 B.   3.5
    C.   2.5
    D.   2
    43) Use the following table to answer question:
     P(S | W) is approximately _____.
    A.   .40
    B.   .30
    C.   .12
    D.   .58
               
    44) Use the following table to answer question:
     P(M  A) is approximately _____.
    A.   .50 B.   .625
    C.   .125
    D.   .25
    45) Dullco Manufacturing claims that its alkaline batteries last forty hours on average in a certain type of portable CD player. Tests on a random sample of 18 batteries showed a mean battery life of 37.8 hours with a standard deviation of 5.4 hours.
    In determining the p-value for reporting the study's findings, which of the following is true?
    A.   The p-value is equal to .05. B.   The p-value is greater than .05. C.   The p-value cannot be determined without specifying  . D.   The p-value is less than .05.
    46) William used a sample of 68 U.S. cities to estimate the relationship between Crime (annual property crimes per 100,000 persons) and Income (median income per capita). His estimated regression equation was Crime = 428 + .050 Income.
    Which outcomes would be likely in a bivariate regression on 45 randomly chosen U.S. cities in 2005 with
    Y = number of robberies in each city (thousands of robberies) and
    X = size of police force in each city (thousands of police)?
    A.   High R2 (due to city size). B.   Positive slope (due to city size).
    C.   No correlation. D.   Autocorrelation.
    47) Twelve randomly-chosen students were asked how many times they had missed class during a certain semester, with this result: 2, 1, 5, 1, 1, 3, 4, 3, 1, 1, 5, 18.
    For this sample, which measure of central tendency is least representative of the “typical” student?
    A.   Midrange
    B.   Mean C.   Mode D.   Median
               
    48) Likely reasons for inaccurate control limits would include which of the following?
    A.   Process variation was not zero, as expected. B.   The engineering parameter for variance is unknown.
    C.   There was insufficient preliminary sampling. D.   The engineers were underpaid for their work.
    49) You are faced with a linear programming objective function of:
    Max P = $20X + $30Y
    and constraints of:
    3X + 4Y = 24 (Constraint A)
    5X – Y = 18 (Constraint B)
    You discover that the shadow price for Constraint A is 7.5 and the shadow price for Constraint B is 0. Which of these statements is TRUE?
    A.   The most you would want to pay for an additional unit of A would be $7.50.
    B.   You can change quantities of X and Y at no cost for Constraint B. C.   For every additional unit of the objective function you create, the price of A rises by $7.50.
    D.   For every additional unit of the objective function you create, you lose 0 units of B.
               
    50) A project has three paths. A–B–C has a length of 25 days. A–D–C has a length of 15 days. Finally, A–E–C has a length of 20 days. Which one of the following statements is TRUE?
    A.   The expected duration of this project is 25 + 15 + 20 = 60 days.
    B.   A–D–C is the critical path. C.   The expected duration of this project is 25 days. D.   A–B–C has the most slack.
    51) Which one of the following statements concerning production and staffing plans is best?
    A.   A master production schedule is a projected statement of income, costs, and profits.
    B.   Aggregation can be performed along three dimensions: product families, labor, and time.
    C.   Production plans are based primarily on information from the master production plan.
    D.   A staffing plan is the intermediate link between the business plan and the master production schedule.
               
    52) While glancing over the sensitivity report, you note that the stitching labor has a shadow price of $10 and a lower limit of 24 hours with an upper limit of 36 hours. If your original right hand value for stitching labor was 30 hours, you know that:
    A.   you would lose $80 if one of your workers missed an entire 8 hour shift. B.   the next worker that offers to work an extra 8 hours should receive at least $80.
    C.   you would be willing pay up to $60 for someone to work another 6 hours.
    D.   you can send someone home 6 hours early and still pay them the $60 they would have earned while on the clock.

    53) The costs of delivering products in the _____ channel are much higher than delivering products in the _____ channel.
    A.   physical, digital B.   e-commerce, digital
    C.   physical, financial D.   digital, e-commerce
    E.   digital, physical
    54) When customers access a Web site and make purchases, they generate __________.
    A.   Tracking cookies B.   Web data C.   Information D.   Clickstream data
    E.   Hyperlink data
    55) _____ is the integration of economic, social, cultural, and ecological facets of life, enabled by information.
    A.   regionalization B.   globalization C.   nationalization D.   business environment
               
    56) Various organizations that promote fair and responsible use of information systems often develop __________.
    A.   a code of ethics B.   responsibility charters
    C.   a strategic plan D.   a mission statement E.   a goals outline
    57) What is _____ is not necessarily _____.
    A.   Illegal, unethical B.   Unethical, legal C.   Ethical, illegal D.   Unethical, illegal
    E.   Ethical, legal
    58) _____ provides users with a view of what is happening, where _____ addresses why it is happening.
    A.   Multidimensional data analysis, structured query language
    B.   Multidimensional data analysis, neural networks C.   Data mining, multidimensional data analysis D.   Data mining, expert system E.   Multidimensional data analysis, data mining
    59) Computer support is greatest for which of the following problems?
    A.   Semistructured and strategic planning B.   Semistructured and management control
    C.   Unstructured and operational control D.   Structured and operational control E.   Structured and management control
    60) The management cockpit best exemplifies which type of system?
    A.   Decision support system B.   Functional area information system
    C.   Expert system D.   Digital dashboard E.   Group decision support system
    61) _____ is the efficient and effective execution of specific tasks.
    A.   Operational control
    B.   Expertise C.   Management control
    D.   Strategic planning E.   Wisdom
    62) Geocoding is __________.
    A.   accessing geographical information B.   integrating maps with spatially oriented databases and other databases
    C.   integrating organizational transactions with spatially oriented databases D.   programming spatially oriented databases E.   encrypting spatial information
    63) At 8% compounded annually, how long will it take $750 to double?
    A.   48 months
    B.   6.5 years C.   9 years D.   12 years
    64) Which of the following represents an attempt to measure the earnings of the firm’s operations over a given time period?
    A.   Cash flow statement
    B.   Balance sheet C.   Income statement D.   Quarterly statement
               
    65) A machine costs $1,000, has a three-year life, and has an estimated salvage value of $100. It will generate after-tax annual cash flows (ACF) of $600 a year, starting next year. If your required rate of return for the project is 10%, what is the NPV of this investment? (Round your answerwer to the nearest $10.)
    A.   $570 B.   $490 C.   $900 D.   -$150
               
    66) Disadvantages of using current liabilities as opposed to long-term debt include:
    A.   higher cash flow exposure B.   greater risk of illiquidity, and uncertainty of interest costs
    C.   decreased risk of liquidity D.   certainty of interest costs E.   uncertainty of future liabilities
    67) Petrified Forest Skin Care, Inc. pays an annual perpetual dividend of $1.70 per share. If the stock is currently selling for $21.25 per share, what is the expected rate of return on this stock?
    A.   12.5% B.   36.13%
    C.   8.0% D.   13.6%
    68) Which of the following is most consistent with the hedging principle in working capital management?
    A.   Fixed assets should be financed with short-term notes payable. B.   Inventory should be financed with preferred stock. C.   Accounts receivable should be financed with short-term lines of credit.
    D.   Borrow on a floating rate basis to finance investments in permanent assets.
               
    69) An increase in future value can be caused by an increase in the __________.
    A.   original amount invested B.   annual interest rate and number of compounding periods
    C.   rate of return D.   dividends paid E.   starting value
    70) If the quote for a forward exchange contract is greater than the computed price, the forward contract is:
    A.   at equilibrium.
    B.   undervalued. C.   a good buy. D.   overvalued.
    71) Your company is considering an investment in a project which would require an initial outlay of $300,000 and produce expected cash flows in Years 1 through 5 of $87,385 per year. You have determined that the current after-tax cost of the firm’s capital (required rate of return) for each source of financing is as follows:
    Cost of debt     8%
    Cost of preferred stock           12%
    Cost of common stock            16%
    Long-term debt currently makes up 20% of the capital structure, preferred stock 10%, and common stock 70%. What is the net present value of this project?
    A.   $1,568
    B.   $871 C.   $1,241
    D.   $463
    72) Suppose you determine that the NPV of a project is $1,525,855. What does that mean?
    A.   The project’s IRR would have to be less that the firm’s discount rate. B.   The project would add value to the firm. C.   Under all conditions, the project’s payback would be less than the profitability index.
    D.   In all cases, investing in this project would be better than investing in a project that has an NPV of $850,000.
               
    73) The common stockholders are most concerned with:
    A.   the spread between the return generated on new investments and the investor’s required rate of return.
    B.   the size of the firm’s beginning earnings per share. C.   the risk of the investment. D.   the percentage of profits retained.
    74) PepsiCo calculates unlevered betas for each peer group in order to:
    A.   eliminate different financial risks.
    B.   eliminate competitive factors. C.   eliminate judgment factors. D.   eliminate different business risks.
    75) Which of the following best represents operating income?
    A.   Income from discontinued operations
    B.   Earnings before interest and taxes C.   Income from capital gains D.   Income after financing activities
    76) In comparison to the buying of final consumers, the purchasing of organizational buyers:
    A.   is even less predictable. B.   leans basically toward economy, quality, and dependability.
    C.   is always emotional. D.   is strictly economic and not at all emotional. E.   is always based on competitive bids from multiple suppliers.
               
    77) The basic objective of the U.S. market-directed economic system is to:
    A.   achieve an annual growth rate of at least 10 percent. B.   provide each person with an equal share of the economic output.
    C.   make the most efficient use of the country's resources. D.   minimize inflation. E.   satisfy consumer needs as they--the consumers--see them.
    78) Comparing GDP for foreign countries can help a marketing manager evaluate potential markets if the manager remembers that:
    A.   GDP measures show people's tendency to buy particular products. B.   income tends to be evenly distributed among consumers in most countries. C.   GDP estimates may not be very accurate for very different cultures and economies.
    D.   Other countries most likely don’t use the US Dollar as their primary currency.
    E.   GDP measures show the degree of competition in a market.
    79) A firm's "marketing mix" decision areas would NOT include:
    A.   Promotion.
    B.   People. C.   Price. D.   Place. E.   Product.
    80) __________ is a marketing management aid which refers to how customers think about proposed and/or present brands in a market.
    A.   Brand familiarity B.   Positioning
    C.   Market scanning D.   Customer relationship management (CRM)
    E.   Market segmentation
    81) The "four Ps" of a marketing mix are:
    A.   Production, Personnel, Price, and Physical Distribution
    B.   Promotion, Production, Price, and People C.   Potential customers, Product, Price, and Personal Selling
    D.   Product, Price, Promotion, and Profit E.   Product, Place, Promotion, and Price
    82) When evaluating macro-marketing:
    A.   the evaluation is necessarily subjective. B.   the best approach is to consider the profit generated by individual firms within the overall system.
    C.   one must determine how efficiently the society's resources are used. D.   one must consider the society’s role in the marketing system. E.   one must consider each individual firm's role in the marketing system.
    83) A cluster analysis of the "toothpaste market" would probably show that:
    A.   the broad product-market can be served effectively with one marketing mix.
    B.   most consu
              54) When customers access a Web site and make purchases, they generate __________. A. Tracking cookies B. Web data C. Information D. Clickstream data E. Hyperlink data        

    BUS/475 Guide 4


    1) The cost principle requires that when assets are acquired, they be recorded at __________.
    A.   list price B.   selling price C.   exchange price paid D.   appraisal value
    2) "Generally accepted" in the phrase generally accepted accounting principles means that the principles __________.
    A.   have been approved for use by the managements of business firms
    B.   have been approved by the Internal Revenue Service C.   have substantial authoritative support D.   are proven theories of accounting
    3) The standards and rules that are recognized as a general guide for financial reporting are called __________.
    A.   standards of financial reporting B.   operating guidelines C.   generally accepted accounting principles D.   generally accepted accounting standards
    4) Sam's Used Cars uses the specific identification method of costing inventory. During March, Sam purchased three cars for $6,000, $7,500, and $9,750, respectively. During March, two cars are sold for $9,000 each. Sam determines that at March 31, the $9,750 car is still on hand. What is Sam’s gross profit for March?
    A.   $8,250
    B.   $750 C.   $4,500
    D.   $5,250
               
    5) Hess, Inc. sells a single product with a contribution margin of $12 per unit and fixed costs of $74,400 and sales for the current year of $100,000. How much is Hess’s break even point?
    A.   2,133 units
    B.   6,200 units
    C.   $25,600 D.   4,600 units
               
    6) As Plant Controller, you are trying to determine which costs over which you have the most control on a day to day basis. Your goal is to achieve better profitability. The Plant Operations Manager suggests that overhead is the easiest area to directly reduce costs. Which of the following items would be classified as manufacturing overhead?
    A.   The western division’s vice president’s salary
    B.   Cost of landscaping the corporate office C.   General corporate liability insurance D.   Factory janitor
    7) What is the preparation of reports for each level of responsibility in the company’s organization chart called?
    A.   Master budgeting analysis
    B.   Exception reporting C.   Responsibility reporting
    D.   Static reporting
    8) Disney’s variable costs are 30% of sales. The company is contemplating an advertising campaign that will cost $22,000. If sales are expected to increase $40,000, by how much will the company's net income increase?
    A.   $6,000 B.   $12,000
    C.   $28,000
    D.   $18,000
               
    9) The cost of an asset and its fair market value are __________.
    A.   never the same B.   irrelevant when the asset is used by the business in its operations
    C.   the same on the date of acquisition D.   the same when the asset is sold
    10) Which one of the following is a product cost?
    A.   Indirect labor B.   Sales person’s salaries
    C.   Advertising costs D.   Office salaries
    11) What exists when budgeted costs exceed actual results?
    A.   A budgeting error B.   An unfavorable difference
    C.   An excess profit D.   A favorable difference
    12) The income statement and balance sheet columns of Pine Company's worksheet reflects the following totals:
                            Income Statement                  Balance Sheet
                Dr.       Cr.                   Dr.       Cr.
    Totals              $58,000           $48,000                       $34,000           $44,000
               

    Closing entries are necessary for __________.
    A.   permanent accounts only B.   both permanent and temporary accounts
    C.   permanent or real accounts only D.   temporary accounts only
    13) Managerial accounting __________.
    A.   is concerned with costing products B.   pertains to the entity as a whole and is highly aggregated
    C.   places emphasis on special-purpose information D.   is governed by generally accepted accounting principles
               
    14) H55 Company sells two products, beer and wine. Beer has a 10 percent profit margin and wine has a 12 percent profit margin. Beer has a 27 percent contribution margin and wine has a 25 percent contribution margin. If other factors are equal, which product should H55 push to customers?
    A.   Beer B.   Selling either results in the same additional income for the company
    C.   It should sell an equal quantity of both D.   Wine
    15) Lekeisha's income exceeds her expenditures. Lekeisha is a __________.
    A.   saver who demands money from the financial system B.   borrower who demands money from the financial system
    C.   borrower who supplies money to the financial system D.   saver who supplies money to the financial system
    16) Maurice receives $100 as a birthday gift. In deciding how to spend the money, he narrows his options down to four choices: Option A, Option B, Option C, and Option D. Each option costs $100. Finally he decides on Option B. The opportunity cost of this decision is __________.
    A.   the value to Maurice of the option he would have chosen had Option B not been available
    B.   $100 C.   $300 D.   the value to Maurice of Options A, C and D combined
    17) A production possibilities frontier will be a straight line if __________.
    A.   the economy is producing efficiently B.   the economy is engaged in trade with at least one other economy C.   increasing the production of one good by x units entails no opportunity cost in terms of the other good
    D.   increasing the production of one good by x units entails a constant opportunity cost in terms of the other good
               
    18) In economics, the cost of something is __________.
    A.   what you give up to get it B.   often impossible to quantify, even in principle C.   the dollar amount of obtaining it D.   always measured in units of time given up to get it
               
    19) A tax on an imported good is called a __________.
    A.   supply tax
    B.   trade tax C.   quota D.   tariff
    20) Which of the following statements about GDP is correct?
    A.   GDP is to a nation’s economy as household income is to a household. B.   GDP increases if the total population increases. C.   GDP measures two things at once: the total income of everyone in the economy and the unemployment rate.
    D.   Money continuously flows from households to government and then back to households, and GDP measures this flow of money.
               
    21) In computing GDP, market prices are used to value final goods and services because __________.
    A.   if market prices are out of line with how people value goods, the government sets price ceilings and price floors
    B.   Market prices are not used in computing GDP C.   market prices reflect the values of goods and services D.   market prices do not change much over time, so it is easy to make comparisons between years

    22) Which of the following statements about GDP is correct?
    A.   Nominal GDP values production at market prices, whereas real GDP values production at the cost of the resources used in the production process.
    B.   Nominal GDP consistently underestimates the value of production, whereas real GDP consistently overestimates the value of production.
    C.   Nominal GDP values production at current prices, whereas real GDP values production at constant prices.
    D.   Nominal GDP values production at constant prices, whereas real GDP values production at current prices.
               
    23) Which of the following is not correct?
    A.   The U.S. debt per-person is large compared with average lifetime income.
    B.   In 2005, the U.S. government had a deficit. C.   A potential cost of deficits is that they reduce national saving, thereby reducing growth of the capital stock and output growth.
    D.   Deficits give people the opportunity to consume at the expense of their children, but they do not require them to do so.
               
    24) The part of the balance of payments account that lists all long-term flows of payments is called the:
    A.   balance of trade. B.   financial and capital account.
    C.   government financial account.
    D.   current account.
    25) Edward Prescott and Finn Kydland won the Nobel Prize in Economics in 2004. One of their contributions was to argue that if a central bank could convince people to expect zero inflation, then the Fed would be tempted to raise output by increasing inflation. This possibility is known as __________.
    A.   the sacrifice ratio dilemma B.   the monetary policy reaction lag
    C.   the time inconsistency of policy
    D.   inflation targeting
    26) In general, the longest lag for __________.
    A.   fiscal policy is the time it takes to change policy, while for monetary policy the longest lag is the time it takes for policy to affect aggregate demand
    B.   both fiscal and monetary policy is the time it takes for policy to affect aggregate demand
    C.   monetary policy is the time it takes to change policy, while for fiscal policy the longest lag is the time it takes for policy to affect aggregate demand
    D.   both fiscal and monetary policy is the time it takes to change policy
    27) Consider two items that might be included in GDP: (1) The estimated rental value of owner-occupied housing; and (2) purchases of newly-constructed homes. How are these two items accounted for when GDP is calculated?
    A.   Only item (2) is included in GDP and it is included in the investment component.
    B.   Item (1) is included in the consumption component, while item (2) is included in the investment component.
    C.   Item (1) is included in the investment component, while item (2) is included in the consumption component.
    D.   Both item (1) and item (2) are included in the consumption component of GDP.

    28) Managers will utilize __________ skills with increasing frequency as they rise within an organization.
    A.   Professional B.   Interpersonal and communication
    C.   Technical D.   Professional E.   Conceptual and decision
    29) Which of these represent skills that managers need?
    A.   Interpersonal, quantitative, and professional B.   Technical, interpersonal & communication and conceptual & decision making
    C.   Professional, technical and interpersonal & communication D.   Conceptual & decision making, professional and technical E.   Interpersonal & communication, conceptual & decision making and professional
               
    30) Building a dynamic organization is another way of describing which function of management?
    A.   Staffing B.   Organizing
    C.   Leading D.   Controlling
    E.   Planning
    31) Your roommate is interested in starting a business and everybody has been giving him different information about being an entrepreneur. Since you have been studying about entrepreneurship and new ventures, which of these would you tell him is true?
    A.   Anyone can start a business B.   All entrepreneurs need venture capital in order to get started C.   Successful entrepreneurs take very careful, calculated risks D.   Entrepreneurs are their own bosses and completely independent
    E.   Money should not be considered a start-up ingredient
    32) The term used to refer to all kinds of differences including religious affiliation, age, disability status, economic class and lifestyle in addition to gender, race, ethnicity and nationality is:
    A.   Diversity B.   Managerial ethics
    C.   Recruiting D.   Employment E.   Selection
    33) A manager's ability to stimulate people to be high performers is referred to as:
    A.   Planning B.   Supervising
    C.   Controlling
    D.   Organizing E.   Leading
    34) A series of quality standards developed by a committee working under the International Organization for Standardization to improve total quality in all businesses for the benefit of both producers and consumers is:
    A.   Total quality management B.   Customer-based integration C.   Computer-integrated manufacturing (CIM)
    D.   Just-in-time control (JIT)
    E.   ISO 9000
    35) Japanese manufacturers' kaizen (continuous improvement) programs enable them to maintain:
    A.   A strategic alliance B.   A homogeneous workforce C.   Positive working relationships with all employees
    D.   A Learning advantage over their competition E.   Larger, faster facilities
    36) Listening to employee suggestions, gaining support for organizational objectives and fostering an atmosphere of teamwork are all considered:
    A.   Technical skills B.   Conceptual C.   Professional skills D.   Interpersonal/communication skills
    E.   Diagnostic skills
    37) The basic components of an effective sexual harassment policy include the following EXCEPT:
    A.   To develop an organization wide policy on sexual harassment B.   To establish a means for ongoing training C.   To act immediately when employees complain of sexual harassment
    D.   To establish a performance appraisal system E.   To establish a formal complaint procedure
    38) Teams that operate separately from the regular work structure and exist temporarily are known as:
    A.   Management teams B.   Transnational teams
    C.   Self-managed teams
    D.   Parallel teams E.   Self-designing teams
               
    39) The Aquatic Center, Inc. periodically reviews the goals of the company. During the process, The Aquatic Center managers analyze their current strategies as compared to their competitors, determine goals that they will pursue and decide upon specific actions for each area of the company to take in pursuit of these goals. The Aquatic Center managers have been engaged in the management function of:
    A.   Goal Coordination
    B.   Controlling C.   Organizing D.   Staffing E.   Planning
    40) As related to managing of human resources, diversity refers to:
    A.   Differences in demographics (such as age, race, gender, disability status, lifestyle, veteran status, educational level, etc.)
    B.   Differences in pay methods (such as hourly, salaried, overtime, hazard-pay, commissioned, etc.)
    C.   Differences in employee benefit plans (such as pensions, insurance, vacations, memberships, etc.)
    D.   Differences in retention strategies (such as training, hiring, incentives, etc) E.   Differences in recruiting methods (such as newspapers, schools, flyers, magazines, agencies, etc.)
               
    41) __________ is the process of working with people and resources to accomplish organizational goals.
    A.   Controlling B.   Decision making
    C.   Planning D.   Supervising E.   Management
    42) Twelve randomly-chosen students were asked how many times they had missed class during a certain semester, with this result: 2, 1, 5, 1, 1, 3, 4, 3, 1, 1, 5, 18.
    For this sample, the median is _____.
    A.   3 B.   3.5
    C.   2.5
    D.   2
    43) Use the following table to answer question:
     P(S | W) is approximately _____.
    A.   .40
    B.   .30
    C.   .12
    D.   .58
               
    44) Use the following table to answer question:
     P(M  A) is approximately _____.
    A.   .50 B.   .625
    C.   .125
    D.   .25
    45) Dullco Manufacturing claims that its alkaline batteries last forty hours on average in a certain type of portable CD player. Tests on a random sample of 18 batteries showed a mean battery life of 37.8 hours with a standard deviation of 5.4 hours.
    In determining the p-value for reporting the study's findings, which of the following is true?
    A.   The p-value is equal to .05. B.   The p-value is greater than .05. C.   The p-value cannot be determined without specifying  . D.   The p-value is less than .05.
    46) William used a sample of 68 U.S. cities to estimate the relationship between Crime (annual property crimes per 100,000 persons) and Income (median income per capita). His estimated regression equation was Crime = 428 + .050 Income.
    Which outcomes would be likely in a bivariate regression on 45 randomly chosen U.S. cities in 2005 with
    Y = number of robberies in each city (thousands of robberies) and
    X = size of police force in each city (thousands of police)?
    A.   High R2 (due to city size). B.   Positive slope (due to city size).
    C.   No correlation. D.   Autocorrelation.
    47) Twelve randomly-chosen students were asked how many times they had missed class during a certain semester, with this result: 2, 1, 5, 1, 1, 3, 4, 3, 1, 1, 5, 18.
    For this sample, which measure of central tendency is least representative of the “typical” student?
    A.   Midrange
    B.   Mean C.   Mode D.   Median
               
    48) Likely reasons for inaccurate control limits would include which of the following?
    A.   Process variation was not zero, as expected. B.   The engineering parameter for variance is unknown.
    C.   There was insufficient preliminary sampling. D.   The engineers were underpaid for their work.
    49) You are faced with a linear programming objective function of:
    Max P = $20X + $30Y
    and constraints of:
    3X + 4Y = 24 (Constraint A)
    5X – Y = 18 (Constraint B)
    You discover that the shadow price for Constraint A is 7.5 and the shadow price for Constraint B is 0. Which of these statements is TRUE?
    A.   The most you would want to pay for an additional unit of A would be $7.50.
    B.   You can change quantities of X and Y at no cost for Constraint B. C.   For every additional unit of the objective function you create, the price of A rises by $7.50.
    D.   For every additional unit of the objective function you create, you lose 0 units of B.
               
    50) A project has three paths. A–B–C has a length of 25 days. A–D–C has a length of 15 days. Finally, A–E–C has a length of 20 days. Which one of the following statements is TRUE?
    A.   The expected duration of this project is 25 + 15 + 20 = 60 days.
    B.   A–D–C is the critical path. C.   The expected duration of this project is 25 days. D.   A–B–C has the most slack.
    51) Which one of the following statements concerning production and staffing plans is best?
    A.   A master production schedule is a projected statement of income, costs, and profits.
    B.   Aggregation can be performed along three dimensions: product families, labor, and time.
    C.   Production plans are based primarily on information from the master production plan.
    D.   A staffing plan is the intermediate link between the business plan and the master production schedule.
               
    52) While glancing over the sensitivity report, you note that the stitching labor has a shadow price of $10 and a lower limit of 24 hours with an upper limit of 36 hours. If your original right hand value for stitching labor was 30 hours, you know that:
    A.   you would lose $80 if one of your workers missed an entire 8 hour shift. B.   the next worker that offers to work an extra 8 hours should receive at least $80.
    C.   you would be willing pay up to $60 for someone to work another 6 hours.
    D.   you can send someone home 6 hours early and still pay them the $60 they would have earned while on the clock.

    53) The costs of delivering products in the _____ channel are much higher than delivering products in the _____ channel.
    A.   physical, digital B.   e-commerce, digital
    C.   physical, financial D.   digital, e-commerce
    E.   digital, physical
    54) When customers access a Web site and make purchases, they generate __________.
    A.   Tracking cookies B.   Web data C.   Information D.   Clickstream data
    E.   Hyperlink data
    55) _____ is the integration of economic, social, cultural, and ecological facets of life, enabled by information.
    A.   regionalization B.   globalization C.   nationalization D.   business environment
               
    56) Various organizations that promote fair and responsible use of information systems often develop __________.
    A.   a code of ethics B.   responsibility charters
    C.   a strategic plan D.   a mission statement E.   a goals outline
    57) What is _____ is not necessarily _____.
    A.   Illegal, unethical B.   Unethical, legal C.   Ethical, illegal D.   Unethical, illegal
    E.   Ethical, legal
    58) _____ provides users with a view of what is happening, where _____ addresses why it is happening.
    A.   Multidimensional data analysis, structured query language
    B.   Multidimensional data analysis, neural networks C.   Data mining, multidimensional data analysis D.   Data mining, expert system E.   Multidimensional data analysis, data mining
    59) Computer support is greatest for which of the following problems?
    A.   Semistructured and strategic planning B.   Semistructured and management control
    C.   Unstructured and operational control D.   Structured and operational control E.   Structured and management control
    60) The management cockpit best exemplifies which type of system?
    A.   Decision support system B.   Functional area information system
    C.   Expert system D.   Digital dashboard E.   Group decision support system
    61) _____ is the efficient and effective execution of specific tasks.
    A.   Operational control
    B.   Expertise C.   Management control
    D.   Strategic planning E.   Wisdom
    62) Geocoding is __________.
    A.   accessing geographical information B.   integrating maps with spatially oriented databases and other databases
    C.   integrating organizational transactions with spatially oriented databases D.   programming spatially oriented databases E.   encrypting spatial information
    63) At 8% compounded annually, how long will it take $750 to double?
    A.   48 months
    B.   6.5 years C.   9 years D.   12 years
    64) Which of the following represents an attempt to measure the earnings of the firm’s operations over a given time period?
    A.   Cash flow statement
    B.   Balance sheet C.   Income statement D.   Quarterly statement
               
    65) A machine costs $1,000, has a three-year life, and has an estimated salvage value of $100. It will generate after-tax annual cash flows (ACF) of $600 a year, starting next year. If your required rate of return for the project is 10%, what is the NPV of this investment? (Round your answerwer to the nearest $10.)
    A.   $570 B.   $490 C.   $900 D.   -$150
               
    66) Disadvantages of using current liabilities as opposed to long-term debt include:
    A.   higher cash flow exposure B.   greater risk of illiquidity, and uncertainty of interest costs
    C.   decreased risk of liquidity D.   certainty of interest costs E.   uncertainty of future liabilities
    67) Petrified Forest Skin Care, Inc. pays an annual perpetual dividend of $1.70 per share. If the stock is currently selling for $21.25 per share, what is the expected rate of return on this stock?
    A.   12.5% B.   36.13%
    C.   8.0% D.   13.6%
    68) Which of the following is most consistent with the hedging principle in working capital management?
    A.   Fixed assets should be financed with short-term notes payable. B.   Inventory should be financed with preferred stock. C.   Accounts receivable should be financed with short-term lines of credit.
    D.   Borrow on a floating rate basis to finance investments in permanent assets.
               
    69) An increase in future value can be caused by an increase in the __________.
    A.   original amount invested B.   annual interest rate and number of compounding periods
    C.   rate of return D.   dividends paid E.   starting value
    70) If the quote for a forward exchange contract is greater than the computed price, the forward contract is:
    A.   at equilibrium.
    B.   undervalued. C.   a good buy. D.   overvalued.
    71) Your company is considering an investment in a project which would require an initial outlay of $300,000 and produce expected cash flows in Years 1 through 5 of $87,385 per year. You have determined that the current after-tax cost of the firm’s capital (required rate of return) for each source of financing is as follows:
    Cost of debt     8%
    Cost of preferred stock           12%
    Cost of common stock            16%
    Long-term debt currently makes up 20% of the capital structure, preferred stock 10%, and common stock 70%. What is the net present value of this project?
    A.   $1,568
    B.   $871 C.   $1,241
    D.   $463
    72) Suppose you determine that the NPV of a project is $1,525,855. What does that mean?
    A.   The project’s IRR would have to be less that the firm’s discount rate. B.   The project would add value to the firm. C.   Under all conditions, the project’s payback would be less than the profitability index.
    D.   In all cases, investing in this project would be better than investing in a project that has an NPV of $850,000.
               
    73) The common stockholders are most concerned with:
    A.   the spread between the return generated on new investments and the investor’s required rate of return.
    B.   the size of the firm’s beginning earnings per share. C.   the risk of the investment. D.   the percentage of profits retained.
    74) PepsiCo calculates unlevered betas for each peer group in order to:
    A.   eliminate different financial risks.
    B.   eliminate competitive factors. C.   eliminate judgment factors. D.   eliminate different business risks.
    75) Which of the following best represents operating income?
    A.   Income from discontinued operations
    B.   Earnings before interest and taxes C.   Income from capital gains D.   Income after financing activities
    76) In comparison to the buying of final consumers, the purchasing of organizational buyers:
    A.   is even less predictable. B.   leans basically toward economy, quality, and dependability.
    C.   is always emotional. D.   is strictly economic and not at all emotional. E.   is always based on competitive bids from multiple suppliers.
               
    77) The basic objective of the U.S. market-directed economic system is to:
    A.   achieve an annual growth rate of at least 10 percent. B.   provide each person with an equal share of the economic output.
    C.   make the most efficient use of the country's resources. D.   minimize inflation. E.   satisfy consumer needs as they--the consumers--see them.
    78) Comparing GDP for foreign countries can help a marketing manager evaluate potential markets if the manager remembers that:
    A.   GDP measures show people's tendency to buy particular products. B.   income tends to be evenly distributed among consumers in most countries. C.   GDP estimates may not be very accurate for very different cultures and economies.
    D.   Other countries most likely don’t use the US Dollar as their primary currency.
    E.   GDP measures show the degree of competition in a market.
    79) A firm's "marketing mix" decision areas would NOT include:
    A.   Promotion.
    B.   People. C.   Price. D.   Place. E.   Product.
    80) __________ is a marketing management aid which refers to how customers think about proposed and/or present brands in a market.
    A.   Brand familiarity B.   Positioning
    C.   Market scanning D.   Customer relationship management (CRM)
    E.   Market segmentation
    81) The "four Ps" of a marketing mix are:
    A.   Production, Personnel, Price, and Physical Distribution
    B.   Promotion, Production, Price, and People C.   Potential customers, Product, Price, and Personal Selling
    D.   Product, Price, Promotion, and Profit E.   Product, Place, Promotion, and Price
    82) When evaluating macro-marketing:
    A.   the evaluation is necessarily subjective. B.   the best approach is to consider the profit generated by individual firms within the overall system.
    C.   one must determine how efficiently the society's resources are used. D.   one must consider the society’s role in the marketing system. E.   one must consider each individual firm's role in the marketing system.
    83) A cluster analysis of the "toothpaste market" would probably show that:
    A.   the broad product-market can be served effectively with one marketing mix.
    B.   most consu
              55) _____ is the integration of economic, social, cultural, and ecological facets of life, enabled by information. A. regionalization B. globalization C. nationalization D. business environment         

    BUS/475 Guide 4


    1) The cost principle requires that when assets are acquired, they be recorded at __________.
    A.   list price B.   selling price C.   exchange price paid D.   appraisal value
    2) "Generally accepted" in the phrase generally accepted accounting principles means that the principles __________.
    A.   have been approved for use by the managements of business firms
    B.   have been approved by the Internal Revenue Service C.   have substantial authoritative support D.   are proven theories of accounting
    3) The standards and rules that are recognized as a general guide for financial reporting are called __________.
    A.   standards of financial reporting B.   operating guidelines C.   generally accepted accounting principles D.   generally accepted accounting standards
    4) Sam's Used Cars uses the specific identification method of costing inventory. During March, Sam purchased three cars for $6,000, $7,500, and $9,750, respectively. During March, two cars are sold for $9,000 each. Sam determines that at March 31, the $9,750 car is still on hand. What is Sam’s gross profit for March?
    A.   $8,250
    B.   $750 C.   $4,500
    D.   $5,250
               
    5) Hess, Inc. sells a single product with a contribution margin of $12 per unit and fixed costs of $74,400 and sales for the current year of $100,000. How much is Hess’s break even point?
    A.   2,133 units
    B.   6,200 units
    C.   $25,600 D.   4,600 units
               
    6) As Plant Controller, you are trying to determine which costs over which you have the most control on a day to day basis. Your goal is to achieve better profitability. The Plant Operations Manager suggests that overhead is the easiest area to directly reduce costs. Which of the following items would be classified as manufacturing overhead?
    A.   The western division’s vice president’s salary
    B.   Cost of landscaping the corporate office C.   General corporate liability insurance D.   Factory janitor
    7) What is the preparation of reports for each level of responsibility in the company’s organization chart called?
    A.   Master budgeting analysis
    B.   Exception reporting C.   Responsibility reporting
    D.   Static reporting
    8) Disney’s variable costs are 30% of sales. The company is contemplating an advertising campaign that will cost $22,000. If sales are expected to increase $40,000, by how much will the company's net income increase?
    A.   $6,000 B.   $12,000
    C.   $28,000
    D.   $18,000
               
    9) The cost of an asset and its fair market value are __________.
    A.   never the same B.   irrelevant when the asset is used by the business in its operations
    C.   the same on the date of acquisition D.   the same when the asset is sold
    10) Which one of the following is a product cost?
    A.   Indirect labor B.   Sales person’s salaries
    C.   Advertising costs D.   Office salaries
    11) What exists when budgeted costs exceed actual results?
    A.   A budgeting error B.   An unfavorable difference
    C.   An excess profit D.   A favorable difference
    12) The income statement and balance sheet columns of Pine Company's worksheet reflects the following totals:
                            Income Statement                  Balance Sheet
                Dr.       Cr.                   Dr.       Cr.
    Totals              $58,000           $48,000                       $34,000           $44,000
               

    Closing entries are necessary for __________.
    A.   permanent accounts only B.   both permanent and temporary accounts
    C.   permanent or real accounts only D.   temporary accounts only
    13) Managerial accounting __________.
    A.   is concerned with costing products B.   pertains to the entity as a whole and is highly aggregated
    C.   places emphasis on special-purpose information D.   is governed by generally accepted accounting principles
               
    14) H55 Company sells two products, beer and wine. Beer has a 10 percent profit margin and wine has a 12 percent profit margin. Beer has a 27 percent contribution margin and wine has a 25 percent contribution margin. If other factors are equal, which product should H55 push to customers?
    A.   Beer B.   Selling either results in the same additional income for the company
    C.   It should sell an equal quantity of both D.   Wine
    15) Lekeisha's income exceeds her expenditures. Lekeisha is a __________.
    A.   saver who demands money from the financial system B.   borrower who demands money from the financial system
    C.   borrower who supplies money to the financial system D.   saver who supplies money to the financial system
    16) Maurice receives $100 as a birthday gift. In deciding how to spend the money, he narrows his options down to four choices: Option A, Option B, Option C, and Option D. Each option costs $100. Finally he decides on Option B. The opportunity cost of this decision is __________.
    A.   the value to Maurice of the option he would have chosen had Option B not been available
    B.   $100 C.   $300 D.   the value to Maurice of Options A, C and D combined
    17) A production possibilities frontier will be a straight line if __________.
    A.   the economy is producing efficiently B.   the economy is engaged in trade with at least one other economy C.   increasing the production of one good by x units entails no opportunity cost in terms of the other good
    D.   increasing the production of one good by x units entails a constant opportunity cost in terms of the other good
               
    18) In economics, the cost of something is __________.
    A.   what you give up to get it B.   often impossible to quantify, even in principle C.   the dollar amount of obtaining it D.   always measured in units of time given up to get it
               
    19) A tax on an imported good is called a __________.
    A.   supply tax
    B.   trade tax C.   quota D.   tariff
    20) Which of the following statements about GDP is correct?
    A.   GDP is to a nation’s economy as household income is to a household. B.   GDP increases if the total population increases. C.   GDP measures two things at once: the total income of everyone in the economy and the unemployment rate.
    D.   Money continuously flows from households to government and then back to households, and GDP measures this flow of money.
               
    21) In computing GDP, market prices are used to value final goods and services because __________.
    A.   if market prices are out of line with how people value goods, the government sets price ceilings and price floors
    B.   Market prices are not used in computing GDP C.   market prices reflect the values of goods and services D.   market prices do not change much over time, so it is easy to make comparisons between years

    22) Which of the following statements about GDP is correct?
    A.   Nominal GDP values production at market prices, whereas real GDP values production at the cost of the resources used in the production process.
    B.   Nominal GDP consistently underestimates the value of production, whereas real GDP consistently overestimates the value of production.
    C.   Nominal GDP values production at current prices, whereas real GDP values production at constant prices.
    D.   Nominal GDP values production at constant prices, whereas real GDP values production at current prices.
               
    23) Which of the following is not correct?
    A.   The U.S. debt per-person is large compared with average lifetime income.
    B.   In 2005, the U.S. government had a deficit. C.   A potential cost of deficits is that they reduce national saving, thereby reducing growth of the capital stock and output growth.
    D.   Deficits give people the opportunity to consume at the expense of their children, but they do not require them to do so.
               
    24) The part of the balance of payments account that lists all long-term flows of payments is called the:
    A.   balance of trade. B.   financial and capital account.
    C.   government financial account.
    D.   current account.
    25) Edward Prescott and Finn Kydland won the Nobel Prize in Economics in 2004. One of their contributions was to argue that if a central bank could convince people to expect zero inflation, then the Fed would be tempted to raise output by increasing inflation. This possibility is known as __________.
    A.   the sacrifice ratio dilemma B.   the monetary policy reaction lag
    C.   the time inconsistency of policy
    D.   inflation targeting
    26) In general, the longest lag for __________.
    A.   fiscal policy is the time it takes to change policy, while for monetary policy the longest lag is the time it takes for policy to affect aggregate demand
    B.   both fiscal and monetary policy is the time it takes for policy to affect aggregate demand
    C.   monetary policy is the time it takes to change policy, while for fiscal policy the longest lag is the time it takes for policy to affect aggregate demand
    D.   both fiscal and monetary policy is the time it takes to change policy
    27) Consider two items that might be included in GDP: (1) The estimated rental value of owner-occupied housing; and (2) purchases of newly-constructed homes. How are these two items accounted for when GDP is calculated?
    A.   Only item (2) is included in GDP and it is included in the investment component.
    B.   Item (1) is included in the consumption component, while item (2) is included in the investment component.
    C.   Item (1) is included in the investment component, while item (2) is included in the consumption component.
    D.   Both item (1) and item (2) are included in the consumption component of GDP.

    28) Managers will utilize __________ skills with increasing frequency as they rise within an organization.
    A.   Professional B.   Interpersonal and communication
    C.   Technical D.   Professional E.   Conceptual and decision
    29) Which of these represent skills that managers need?
    A.   Interpersonal, quantitative, and professional B.   Technical, interpersonal & communication and conceptual & decision making
    C.   Professional, technical and interpersonal & communication D.   Conceptual & decision making, professional and technical E.   Interpersonal & communication, conceptual & decision making and professional
               
    30) Building a dynamic organization is another way of describing which function of management?
    A.   Staffing B.   Organizing
    C.   Leading D.   Controlling
    E.   Planning
    31) Your roommate is interested in starting a business and everybody has been giving him different information about being an entrepreneur. Since you have been studying about entrepreneurship and new ventures, which of these would you tell him is true?
    A.   Anyone can start a business B.   All entrepreneurs need venture capital in order to get started C.   Successful entrepreneurs take very careful, calculated risks D.   Entrepreneurs are their own bosses and completely independent
    E.   Money should not be considered a start-up ingredient
    32) The term used to refer to all kinds of differences including religious affiliation, age, disability status, economic class and lifestyle in addition to gender, race, ethnicity and nationality is:
    A.   Diversity B.   Managerial ethics
    C.   Recruiting D.   Employment E.   Selection
    33) A manager's ability to stimulate people to be high performers is referred to as:
    A.   Planning B.   Supervising
    C.   Controlling
    D.   Organizing E.   Leading
    34) A series of quality standards developed by a committee working under the International Organization for Standardization to improve total quality in all businesses for the benefit of both producers and consumers is:
    A.   Total quality management B.   Customer-based integration C.   Computer-integrated manufacturing (CIM)
    D.   Just-in-time control (JIT)
    E.   ISO 9000
    35) Japanese manufacturers' kaizen (continuous improvement) programs enable them to maintain:
    A.   A strategic alliance B.   A homogeneous workforce C.   Positive working relationships with all employees
    D.   A Learning advantage over their competition E.   Larger, faster facilities
    36) Listening to employee suggestions, gaining support for organizational objectives and fostering an atmosphere of teamwork are all considered:
    A.   Technical skills B.   Conceptual C.   Professional skills D.   Interpersonal/communication skills
    E.   Diagnostic skills
    37) The basic components of an effective sexual harassment policy include the following EXCEPT:
    A.   To develop an organization wide policy on sexual harassment B.   To establish a means for ongoing training C.   To act immediately when employees complain of sexual harassment
    D.   To establish a performance appraisal system E.   To establish a formal complaint procedure
    38) Teams that operate separately from the regular work structure and exist temporarily are known as:
    A.   Management teams B.   Transnational teams
    C.   Self-managed teams
    D.   Parallel teams E.   Self-designing teams
               
    39) The Aquatic Center, Inc. periodically reviews the goals of the company. During the process, The Aquatic Center managers analyze their current strategies as compared to their competitors, determine goals that they will pursue and decide upon specific actions for each area of the company to take in pursuit of these goals. The Aquatic Center managers have been engaged in the management function of:
    A.   Goal Coordination
    B.   Controlling C.   Organizing D.   Staffing E.   Planning
    40) As related to managing of human resources, diversity refers to:
    A.   Differences in demographics (such as age, race, gender, disability status, lifestyle, veteran status, educational level, etc.)
    B.   Differences in pay methods (such as hourly, salaried, overtime, hazard-pay, commissioned, etc.)
    C.   Differences in employee benefit plans (such as pensions, insurance, vacations, memberships, etc.)
    D.   Differences in retention strategies (such as training, hiring, incentives, etc) E.   Differences in recruiting methods (such as newspapers, schools, flyers, magazines, agencies, etc.)
               
    41) __________ is the process of working with people and resources to accomplish organizational goals.
    A.   Controlling B.   Decision making
    C.   Planning D.   Supervising E.   Management
    42) Twelve randomly-chosen students were asked how many times they had missed class during a certain semester, with this result: 2, 1, 5, 1, 1, 3, 4, 3, 1, 1, 5, 18.
    For this sample, the median is _____.
    A.   3 B.   3.5
    C.   2.5
    D.   2
    43) Use the following table to answer question:
     P(S | W) is approximately _____.
    A.   .40
    B.   .30
    C.   .12
    D.   .58
               
    44) Use the following table to answer question:
     P(M  A) is approximately _____.
    A.   .50 B.   .625
    C.   .125
    D.   .25
    45) Dullco Manufacturing claims that its alkaline batteries last forty hours on average in a certain type of portable CD player. Tests on a random sample of 18 batteries showed a mean battery life of 37.8 hours with a standard deviation of 5.4 hours.
    In determining the p-value for reporting the study's findings, which of the following is true?
    A.   The p-value is equal to .05. B.   The p-value is greater than .05. C.   The p-value cannot be determined without specifying  . D.   The p-value is less than .05.
    46) William used a sample of 68 U.S. cities to estimate the relationship between Crime (annual property crimes per 100,000 persons) and Income (median income per capita). His estimated regression equation was Crime = 428 + .050 Income.
    Which outcomes would be likely in a bivariate regression on 45 randomly chosen U.S. cities in 2005 with
    Y = number of robberies in each city (thousands of robberies) and
    X = size of police force in each city (thousands of police)?
    A.   High R2 (due to city size). B.   Positive slope (due to city size).
    C.   No correlation. D.   Autocorrelation.
    47) Twelve randomly-chosen students were asked how many times they had missed class during a certain semester, with this result: 2, 1, 5, 1, 1, 3, 4, 3, 1, 1, 5, 18.
    For this sample, which measure of central tendency is least representative of the “typical” student?
    A.   Midrange
    B.   Mean C.   Mode D.   Median
               
    48) Likely reasons for inaccurate control limits would include which of the following?
    A.   Process variation was not zero, as expected. B.   The engineering parameter for variance is unknown.
    C.   There was insufficient preliminary sampling. D.   The engineers were underpaid for their work.
    49) You are faced with a linear programming objective function of:
    Max P = $20X + $30Y
    and constraints of:
    3X + 4Y = 24 (Constraint A)
    5X – Y = 18 (Constraint B)
    You discover that the shadow price for Constraint A is 7.5 and the shadow price for Constraint B is 0. Which of these statements is TRUE?
    A.   The most you would want to pay for an additional unit of A would be $7.50.
    B.   You can change quantities of X and Y at no cost for Constraint B. C.   For every additional unit of the objective function you create, the price of A rises by $7.50.
    D.   For every additional unit of the objective function you create, you lose 0 units of B.
               
    50) A project has three paths. A–B–C has a length of 25 days. A–D–C has a length of 15 days. Finally, A–E–C has a length of 20 days. Which one of the following statements is TRUE?
    A.   The expected duration of this project is 25 + 15 + 20 = 60 days.
    B.   A–D–C is the critical path. C.   The expected duration of this project is 25 days. D.   A–B–C has the most slack.
    51) Which one of the following statements concerning production and staffing plans is best?
    A.   A master production schedule is a projected statement of income, costs, and profits.
    B.   Aggregation can be performed along three dimensions: product families, labor, and time.
    C.   Production plans are based primarily on information from the master production plan.
    D.   A staffing plan is the intermediate link between the business plan and the master production schedule.
               
    52) While glancing over the sensitivity report, you note that the stitching labor has a shadow price of $10 and a lower limit of 24 hours with an upper limit of 36 hours. If your original right hand value for stitching labor was 30 hours, you know that:
    A.   you would lose $80 if one of your workers missed an entire 8 hour shift. B.   the next worker that offers to work an extra 8 hours should receive at least $80.
    C.   you would be willing pay up to $60 for someone to work another 6 hours.
    D.   you can send someone home 6 hours early and still pay them the $60 they would have earned while on the clock.

    53) The costs of delivering products in the _____ channel are much higher than delivering products in the _____ channel.
    A.   physical, digital B.   e-commerce, digital
    C.   physical, financial D.   digital, e-commerce
    E.   digital, physical
    54) When customers access a Web site and make purchases, they generate __________.
    A.   Tracking cookies B.   Web data C.   Information D.   Clickstream data
    E.   Hyperlink data
    55) _____ is the integration of economic, social, cultural, and ecological facets of life, enabled by information.
    A.   regionalization B.   globalization C.   nationalization D.   business environment
               
    56) Various organizations that promote fair and responsible use of information systems often develop __________.
    A.   a code of ethics B.   responsibility charters
    C.   a strategic plan D.   a mission statement E.   a goals outline
    57) What is _____ is not necessarily _____.
    A.   Illegal, unethical B.   Unethical, legal C.   Ethical, illegal D.   Unethical, illegal
    E.   Ethical, legal
    58) _____ provides users with a view of what is happening, where _____ addresses why it is happening.
    A.   Multidimensional data analysis, structured query language
    B.   Multidimensional data analysis, neural networks C.   Data mining, multidimensional data analysis D.   Data mining, expert system E.   Multidimensional data analysis, data mining
    59) Computer support is greatest for which of the following problems?
    A.   Semistructured and strategic planning B.   Semistructured and management control
    C.   Unstructured and operational control D.   Structured and operational control E.   Structured and management control
    60) The management cockpit best exemplifies which type of system?
    A.   Decision support system B.   Functional area information system
    C.   Expert system D.   Digital dashboard E.   Group decision support system
    61) _____ is the efficient and effective execution of specific tasks.
    A.   Operational control
    B.   Expertise C.   Management control
    D.   Strategic planning E.   Wisdom
    62) Geocoding is __________.
    A.   accessing geographical information B.   integrating maps with spatially oriented databases and other databases
    C.   integrating organizational transactions with spatially oriented databases D.   programming spatially oriented databases E.   encrypting spatial information
    63) At 8% compounded annually, how long will it take $750 to double?
    A.   48 months
    B.   6.5 years C.   9 years D.   12 years
    64) Which of the following represents an attempt to measure the earnings of the firm’s operations over a given time period?
    A.   Cash flow statement
    B.   Balance sheet C.   Income statement D.   Quarterly statement
               
    65) A machine costs $1,000, has a three-year life, and has an estimated salvage value of $100. It will generate after-tax annual cash flows (ACF) of $600 a year, starting next year. If your required rate of return for the project is 10%, what is the NPV of this investment? (Round your answerwer to the nearest $10.)
    A.   $570 B.   $490 C.   $900 D.   -$150
               
    66) Disadvantages of using current liabilities as opposed to long-term debt include:
    A.   higher cash flow exposure B.   greater risk of illiquidity, and uncertainty of interest costs
    C.   decreased risk of liquidity D.   certainty of interest costs E.   uncertainty of future liabilities
    67) Petrified Forest Skin Care, Inc. pays an annual perpetual dividend of $1.70 per share. If the stock is currently selling for $21.25 per share, what is the expected rate of return on this stock?
    A.   12.5% B.   36.13%
    C.   8.0% D.   13.6%
    68) Which of the following is most consistent with the hedging principle in working capital management?
    A.   Fixed assets should be financed with short-term notes payable. B.   Inventory should be financed with preferred stock. C.   Accounts receivable should be financed with short-term lines of credit.
    D.   Borrow on a floating rate basis to finance investments in permanent assets.
               
    69) An increase in future value can be caused by an increase in the __________.
    A.   original amount invested B.   annual interest rate and number of compounding periods
    C.   rate of return D.   dividends paid E.   starting value
    70) If the quote for a forward exchange contract is greater than the computed price, the forward contract is:
    A.   at equilibrium.
    B.   undervalued. C.   a good buy. D.   overvalued.
    71) Your company is considering an investment in a project which would require an initial outlay of $300,000 and produce expected cash flows in Years 1 through 5 of $87,385 per year. You have determined that the current after-tax cost of the firm’s capital (required rate of return) for each source of financing is as follows:
    Cost of debt     8%
    Cost of preferred stock           12%
    Cost of common stock            16%
    Long-term debt currently makes up 20% of the capital structure, preferred stock 10%, and common stock 70%. What is the net present value of this project?
    A.   $1,568
    B.   $871 C.   $1,241
    D.   $463
    72) Suppose you determine that the NPV of a project is $1,525,855. What does that mean?
    A.   The project’s IRR would have to be less that the firm’s discount rate. B.   The project would add value to the firm. C.   Under all conditions, the project’s payback would be less than the profitability index.
    D.   In all cases, investing in this project would be better than investing in a project that has an NPV of $850,000.
               
    73) The common stockholders are most concerned with:
    A.   the spread between the return generated on new investments and the investor’s required rate of return.
    B.   the size of the firm’s beginning earnings per share. C.   the risk of the investment. D.   the percentage of profits retained.
    74) PepsiCo calculates unlevered betas for each peer group in order to:
    A.   eliminate different financial risks.
    B.   eliminate competitive factors. C.   eliminate judgment factors. D.   eliminate different business risks.
    75) Which of the following best represents operating income?
    A.   Income from discontinued operations
    B.   Earnings before interest and taxes C.   Income from capital gains D.   Income after financing activities
    76) In comparison to the buying of final consumers, the purchasing of organizational buyers:
    A.   is even less predictable. B.   leans basically toward economy, quality, and dependability.
    C.   is always emotional. D.   is strictly economic and not at all emotional. E.   is always based on competitive bids from multiple suppliers.
               
    77) The basic objective of the U.S. market-directed economic system is to:
    A.   achieve an annual growth rate of at least 10 percent. B.   provide each person with an equal share of the economic output.
    C.   make the most efficient use of the country's resources. D.   minimize inflation. E.   satisfy consumer needs as they--the consumers--see them.
    78) Comparing GDP for foreign countries can help a marketing manager evaluate potential markets if the manager remembers that:
    A.   GDP measures show people's tendency to buy particular products. B.   income tends to be evenly distributed among consumers in most countries. C.   GDP estimates may not be very accurate for very different cultures and economies.
    D.   Other countries most likely don’t use the US Dollar as their primary currency.
    E.   GDP measures show the degree of competition in a market.
    79) A firm's "marketing mix" decision areas would NOT include:
    A.   Promotion.
    B.   People. C.   Price. D.   Place. E.   Product.
    80) __________ is a marketing management aid which refers to how customers think about proposed and/or present brands in a market.
    A.   Brand familiarity B.   Positioning
    C.   Market scanning D.   Customer relationship management (CRM)
    E.   Market segmentation
    81) The "four Ps" of a marketing mix are:
    A.   Production, Personnel, Price, and Physical Distribution
    B.   Promotion, Production, Price, and People C.   Potential customers, Product, Price, and Personal Selling
    D.   Product, Price, Promotion, and Profit E.   Product, Place, Promotion, and Price
    82) When evaluating macro-marketing:
    A.   the evaluation is necessarily subjective. B.   the best approach is to consider the profit generated by individual firms within the overall system.
    C.   one must determine how efficiently the society's resources are used. D.   one must consider the society’s role in the marketing system. E.   one must consider each individual firm's role in the marketing system.
    83) A cluster analysis of the "toothpaste market" would probably show that:
    A.   the broad product-market can be served effectively with one marketing mix.
    B.   most consu
              56) Various organizations that promote fair and responsible use of information systems often develop __________. A. a code of ethics B. responsibility charters C. a strategic plan D. a mission statement E. a goals outline        

    BUS/475 Guide 4


    1) The cost principle requires that when assets are acquired, they be recorded at __________.
    A.   list price B.   selling price C.   exchange price paid D.   appraisal value
    2) "Generally accepted" in the phrase generally accepted accounting principles means that the principles __________.
    A.   have been approved for use by the managements of business firms
    B.   have been approved by the Internal Revenue Service C.   have substantial authoritative support D.   are proven theories of accounting
    3) The standards and rules that are recognized as a general guide for financial reporting are called __________.
    A.   standards of financial reporting B.   operating guidelines C.   generally accepted accounting principles D.   generally accepted accounting standards
    4) Sam's Used Cars uses the specific identification method of costing inventory. During March, Sam purchased three cars for $6,000, $7,500, and $9,750, respectively. During March, two cars are sold for $9,000 each. Sam determines that at March 31, the $9,750 car is still on hand. What is Sam’s gross profit for March?
    A.   $8,250
    B.   $750 C.   $4,500
    D.   $5,250
               
    5) Hess, Inc. sells a single product with a contribution margin of $12 per unit and fixed costs of $74,400 and sales for the current year of $100,000. How much is Hess’s break even point?
    A.   2,133 units
    B.   6,200 units
    C.   $25,600 D.   4,600 units
               
    6) As Plant Controller, you are trying to determine which costs over which you have the most control on a day to day basis. Your goal is to achieve better profitability. The Plant Operations Manager suggests that overhead is the easiest area to directly reduce costs. Which of the following items would be classified as manufacturing overhead?
    A.   The western division’s vice president’s salary
    B.   Cost of landscaping the corporate office C.   General corporate liability insurance D.   Factory janitor
    7) What is the preparation of reports for each level of responsibility in the company’s organization chart called?
    A.   Master budgeting analysis
    B.   Exception reporting C.   Responsibility reporting
    D.   Static reporting
    8) Disney’s variable costs are 30% of sales. The company is contemplating an advertising campaign that will cost $22,000. If sales are expected to increase $40,000, by how much will the company's net income increase?
    A.   $6,000 B.   $12,000
    C.   $28,000
    D.   $18,000
               
    9) The cost of an asset and its fair market value are __________.
    A.   never the same B.   irrelevant when the asset is used by the business in its operations
    C.   the same on the date of acquisition D.   the same when the asset is sold
    10) Which one of the following is a product cost?
    A.   Indirect labor B.   Sales person’s salaries
    C.   Advertising costs D.   Office salaries
    11) What exists when budgeted costs exceed actual results?
    A.   A budgeting error B.   An unfavorable difference
    C.   An excess profit D.   A favorable difference
    12) The income statement and balance sheet columns of Pine Company's worksheet reflects the following totals:
                            Income Statement                  Balance Sheet
                Dr.       Cr.                   Dr.       Cr.
    Totals              $58,000           $48,000                       $34,000           $44,000
               

    Closing entries are necessary for __________.
    A.   permanent accounts only B.   both permanent and temporary accounts
    C.   permanent or real accounts only D.   temporary accounts only
    13) Managerial accounting __________.
    A.   is concerned with costing products B.   pertains to the entity as a whole and is highly aggregated
    C.   places emphasis on special-purpose information D.   is governed by generally accepted accounting principles
               
    14) H55 Company sells two products, beer and wine. Beer has a 10 percent profit margin and wine has a 12 percent profit margin. Beer has a 27 percent contribution margin and wine has a 25 percent contribution margin. If other factors are equal, which product should H55 push to customers?
    A.   Beer B.   Selling either results in the same additional income for the company
    C.   It should sell an equal quantity of both D.   Wine
    15) Lekeisha's income exceeds her expenditures. Lekeisha is a __________.
    A.   saver who demands money from the financial system B.   borrower who demands money from the financial system
    C.   borrower who supplies money to the financial system D.   saver who supplies money to the financial system
    16) Maurice receives $100 as a birthday gift. In deciding how to spend the money, he narrows his options down to four choices: Option A, Option B, Option C, and Option D. Each option costs $100. Finally he decides on Option B. The opportunity cost of this decision is __________.
    A.   the value to Maurice of the option he would have chosen had Option B not been available
    B.   $100 C.   $300 D.   the value to Maurice of Options A, C and D combined
    17) A production possibilities frontier will be a straight line if __________.
    A.   the economy is producing efficiently B.   the economy is engaged in trade with at least one other economy C.   increasing the production of one good by x units entails no opportunity cost in terms of the other good
    D.   increasing the production of one good by x units entails a constant opportunity cost in terms of the other good
               
    18) In economics, the cost of something is __________.
    A.   what you give up to get it B.   often impossible to quantify, even in principle C.   the dollar amount of obtaining it D.   always measured in units of time given up to get it
               
    19) A tax on an imported good is called a __________.
    A.   supply tax
    B.   trade tax C.   quota D.   tariff
    20) Which of the following statements about GDP is correct?
    A.   GDP is to a nation’s economy as household income is to a household. B.   GDP increases if the total population increases. C.   GDP measures two things at once: the total income of everyone in the economy and the unemployment rate.
    D.   Money continuously flows from households to government and then back to households, and GDP measures this flow of money.
               
    21) In computing GDP, market prices are used to value final goods and services because __________.
    A.   if market prices are out of line with how people value goods, the government sets price ceilings and price floors
    B.   Market prices are not used in computing GDP C.   market prices reflect the values of goods and services D.   market prices do not change much over time, so it is easy to make comparisons between years

    22) Which of the following statements about GDP is correct?
    A.   Nominal GDP values production at market prices, whereas real GDP values production at the cost of the resources used in the production process.
    B.   Nominal GDP consistently underestimates the value of production, whereas real GDP consistently overestimates the value of production.
    C.   Nominal GDP values production at current prices, whereas real GDP values production at constant prices.
    D.   Nominal GDP values production at constant prices, whereas real GDP values production at current prices.
               
    23) Which of the following is not correct?
    A.   The U.S. debt per-person is large compared with average lifetime income.
    B.   In 2005, the U.S. government had a deficit. C.   A potential cost of deficits is that they reduce national saving, thereby reducing growth of the capital stock and output growth.
    D.   Deficits give people the opportunity to consume at the expense of their children, but they do not require them to do so.
               
    24) The part of the balance of payments account that lists all long-term flows of payments is called the:
    A.   balance of trade. B.   financial and capital account.
    C.   government financial account.
    D.   current account.
    25) Edward Prescott and Finn Kydland won the Nobel Prize in Economics in 2004. One of their contributions was to argue that if a central bank could convince people to expect zero inflation, then the Fed would be tempted to raise output by increasing inflation. This possibility is known as __________.
    A.   the sacrifice ratio dilemma B.   the monetary policy reaction lag
    C.   the time inconsistency of policy
    D.   inflation targeting
    26) In general, the longest lag for __________.
    A.   fiscal policy is the time it takes to change policy, while for monetary policy the longest lag is the time it takes for policy to affect aggregate demand
    B.   both fiscal and monetary policy is the time it takes for policy to affect aggregate demand
    C.   monetary policy is the time it takes to change policy, while for fiscal policy the longest lag is the time it takes for policy to affect aggregate demand
    D.   both fiscal and monetary policy is the time it takes to change policy
    27) Consider two items that might be included in GDP: (1) The estimated rental value of owner-occupied housing; and (2) purchases of newly-constructed homes. How are these two items accounted for when GDP is calculated?
    A.   Only item (2) is included in GDP and it is included in the investment component.
    B.   Item (1) is included in the consumption component, while item (2) is included in the investment component.
    C.   Item (1) is included in the investment component, while item (2) is included in the consumption component.
    D.   Both item (1) and item (2) are included in the consumption component of GDP.

    28) Managers will utilize __________ skills with increasing frequency as they rise within an organization.
    A.   Professional B.   Interpersonal and communication
    C.   Technical D.   Professional E.   Conceptual and decision
    29) Which of these represent skills that managers need?
    A.   Interpersonal, quantitative, and professional B.   Technical, interpersonal & communication and conceptual & decision making
    C.   Professional, technical and interpersonal & communication D.   Conceptual & decision making, professional and technical E.   Interpersonal & communication, conceptual & decision making and professional
               
    30) Building a dynamic organization is another way of describing which function of management?
    A.   Staffing B.   Organizing
    C.   Leading D.   Controlling
    E.   Planning
    31) Your roommate is interested in starting a business and everybody has been giving him different information about being an entrepreneur. Since you have been studying about entrepreneurship and new ventures, which of these would you tell him is true?
    A.   Anyone can start a business B.   All entrepreneurs need venture capital in order to get started C.   Successful entrepreneurs take very careful, calculated risks D.   Entrepreneurs are their own bosses and completely independent
    E.   Money should not be considered a start-up ingredient
    32) The term used to refer to all kinds of differences including religious affiliation, age, disability status, economic class and lifestyle in addition to gender, race, ethnicity and nationality is:
    A.   Diversity B.   Managerial ethics
    C.   Recruiting D.   Employment E.   Selection
    33) A manager's ability to stimulate people to be high performers is referred to as:
    A.   Planning B.   Supervising
    C.   Controlling
    D.   Organizing E.   Leading
    34) A series of quality standards developed by a committee working under the International Organization for Standardization to improve total quality in all businesses for the benefit of both producers and consumers is:
    A.   Total quality management B.   Customer-based integration C.   Computer-integrated manufacturing (CIM)
    D.   Just-in-time control (JIT)
    E.   ISO 9000
    35) Japanese manufacturers' kaizen (continuous improvement) programs enable them to maintain:
    A.   A strategic alliance B.   A homogeneous workforce C.   Positive working relationships with all employees
    D.   A Learning advantage over their competition E.   Larger, faster facilities
    36) Listening to employee suggestions, gaining support for organizational objectives and fostering an atmosphere of teamwork are all considered:
    A.   Technical skills B.   Conceptual C.   Professional skills D.   Interpersonal/communication skills
    E.   Diagnostic skills
    37) The basic components of an effective sexual harassment policy include the following EXCEPT:
    A.   To develop an organization wide policy on sexual harassment B.   To establish a means for ongoing training C.   To act immediately when employees complain of sexual harassment
    D.   To establish a performance appraisal system E.   To establish a formal complaint procedure
    38) Teams that operate separately from the regular work structure and exist temporarily are known as:
    A.   Management teams B.   Transnational teams
    C.   Self-managed teams
    D.   Parallel teams E.   Self-designing teams
               
    39) The Aquatic Center, Inc. periodically reviews the goals of the company. During the process, The Aquatic Center managers analyze their current strategies as compared to their competitors, determine goals that they will pursue and decide upon specific actions for each area of the company to take in pursuit of these goals. The Aquatic Center managers have been engaged in the management function of:
    A.   Goal Coordination
    B.   Controlling C.   Organizing D.   Staffing E.   Planning
    40) As related to managing of human resources, diversity refers to:
    A.   Differences in demographics (such as age, race, gender, disability status, lifestyle, veteran status, educational level, etc.)
    B.   Differences in pay methods (such as hourly, salaried, overtime, hazard-pay, commissioned, etc.)
    C.   Differences in employee benefit plans (such as pensions, insurance, vacations, memberships, etc.)
    D.   Differences in retention strategies (such as training, hiring, incentives, etc) E.   Differences in recruiting methods (such as newspapers, schools, flyers, magazines, agencies, etc.)
               
    41) __________ is the process of working with people and resources to accomplish organizational goals.
    A.   Controlling B.   Decision making
    C.   Planning D.   Supervising E.   Management
    42) Twelve randomly-chosen students were asked how many times they had missed class during a certain semester, with this result: 2, 1, 5, 1, 1, 3, 4, 3, 1, 1, 5, 18.
    For this sample, the median is _____.
    A.   3 B.   3.5
    C.   2.5
    D.   2
    43) Use the following table to answer question:
     P(S | W) is approximately _____.
    A.   .40
    B.   .30
    C.   .12
    D.   .58
               
    44) Use the following table to answer question:
     P(M  A) is approximately _____.
    A.   .50 B.   .625
    C.   .125
    D.   .25
    45) Dullco Manufacturing claims that its alkaline batteries last forty hours on average in a certain type of portable CD player. Tests on a random sample of 18 batteries showed a mean battery life of 37.8 hours with a standard deviation of 5.4 hours.
    In determining the p-value for reporting the study's findings, which of the following is true?
    A.   The p-value is equal to .05. B.   The p-value is greater than .05. C.   The p-value cannot be determined without specifying  . D.   The p-value is less than .05.
    46) William used a sample of 68 U.S. cities to estimate the relationship between Crime (annual property crimes per 100,000 persons) and Income (median income per capita). His estimated regression equation was Crime = 428 + .050 Income.
    Which outcomes would be likely in a bivariate regression on 45 randomly chosen U.S. cities in 2005 with
    Y = number of robberies in each city (thousands of robberies) and
    X = size of police force in each city (thousands of police)?
    A.   High R2 (due to city size). B.   Positive slope (due to city size).
    C.   No correlation. D.   Autocorrelation.
    47) Twelve randomly-chosen students were asked how many times they had missed class during a certain semester, with this result: 2, 1, 5, 1, 1, 3, 4, 3, 1, 1, 5, 18.
    For this sample, which measure of central tendency is least representative of the “typical” student?
    A.   Midrange
    B.   Mean C.   Mode D.   Median
               
    48) Likely reasons for inaccurate control limits would include which of the following?
    A.   Process variation was not zero, as expected. B.   The engineering parameter for variance is unknown.
    C.   There was insufficient preliminary sampling. D.   The engineers were underpaid for their work.
    49) You are faced with a linear programming objective function of:
    Max P = $20X + $30Y
    and constraints of:
    3X + 4Y = 24 (Constraint A)
    5X – Y = 18 (Constraint B)
    You discover that the shadow price for Constraint A is 7.5 and the shadow price for Constraint B is 0. Which of these statements is TRUE?
    A.   The most you would want to pay for an additional unit of A would be $7.50.
    B.   You can change quantities of X and Y at no cost for Constraint B. C.   For every additional unit of the objective function you create, the price of A rises by $7.50.
    D.   For every additional unit of the objective function you create, you lose 0 units of B.
               
    50) A project has three paths. A–B–C has a length of 25 days. A–D–C has a length of 15 days. Finally, A–E–C has a length of 20 days. Which one of the following statements is TRUE?
    A.   The expected duration of this project is 25 + 15 + 20 = 60 days.
    B.   A–D–C is the critical path. C.   The expected duration of this project is 25 days. D.   A–B–C has the most slack.
    51) Which one of the following statements concerning production and staffing plans is best?
    A.   A master production schedule is a projected statement of income, costs, and profits.
    B.   Aggregation can be performed along three dimensions: product families, labor, and time.
    C.   Production plans are based primarily on information from the master production plan.
    D.   A staffing plan is the intermediate link between the business plan and the master production schedule.
               
    52) While glancing over the sensitivity report, you note that the stitching labor has a shadow price of $10 and a lower limit of 24 hours with an upper limit of 36 hours. If your original right hand value for stitching labor was 30 hours, you know that:
    A.   you would lose $80 if one of your workers missed an entire 8 hour shift. B.   the next worker that offers to work an extra 8 hours should receive at least $80.
    C.   you would be willing pay up to $60 for someone to work another 6 hours.
    D.   you can send someone home 6 hours early and still pay them the $60 they would have earned while on the clock.

    53) The costs of delivering products in the _____ channel are much higher than delivering products in the _____ channel.
    A.   physical, digital B.   e-commerce, digital
    C.   physical, financial D.   digital, e-commerce
    E.   digital, physical
    54) When customers access a Web site and make purchases, they generate __________.
    A.   Tracking cookies B.   Web data C.   Information D.   Clickstream data
    E.   Hyperlink data
    55) _____ is the integration of economic, social, cultural, and ecological facets of life, enabled by information.
    A.   regionalization B.   globalization C.   nationalization D.   business environment
               
    56) Various organizations that promote fair and responsible use of information systems often develop __________.
    A.   a code of ethics B.   responsibility charters
    C.   a strategic plan D.   a mission statement E.   a goals outline
    57) What is _____ is not necessarily _____.
    A.   Illegal, unethical B.   Unethical, legal C.   Ethical, illegal D.   Unethical, illegal
    E.   Ethical, legal
    58) _____ provides users with a view of what is happening, where _____ addresses why it is happening.
    A.   Multidimensional data analysis, structured query language
    B.   Multidimensional data analysis, neural networks C.   Data mining, multidimensional data analysis D.   Data mining, expert system E.   Multidimensional data analysis, data mining
    59) Computer support is greatest for which of the following problems?
    A.   Semistructured and strategic planning B.   Semistructured and management control
    C.   Unstructured and operational control D.   Structured and operational control E.   Structured and management control
    60) The management cockpit best exemplifies which type of system?
    A.   Decision support system B.   Functional area information system
    C.   Expert system D.   Digital dashboard E.   Group decision support system
    61) _____ is the efficient and effective execution of specific tasks.
    A.   Operational control
    B.   Expertise C.   Management control
    D.   Strategic planning E.   Wisdom
    62) Geocoding is __________.
    A.   accessing geographical information B.   integrating maps with spatially oriented databases and other databases
    C.   integrating organizational transactions with spatially oriented databases D.   programming spatially oriented databases E.   encrypting spatial information
    63) At 8% compounded annually, how long will it take $750 to double?
    A.   48 months
    B.   6.5 years C.   9 years D.   12 years
    64) Which of the following represents an attempt to measure the earnings of the firm’s operations over a given time period?
    A.   Cash flow statement
    B.   Balance sheet C.   Income statement D.   Quarterly statement
               
    65) A machine costs $1,000, has a three-year life, and has an estimated salvage value of $100. It will generate after-tax annual cash flows (ACF) of $600 a year, starting next year. If your required rate of return for the project is 10%, what is the NPV of this investment? (Round your answerwer to the nearest $10.)
    A.   $570 B.   $490 C.   $900 D.   -$150
               
    66) Disadvantages of using current liabilities as opposed to long-term debt include:
    A.   higher cash flow exposure B.   greater risk of illiquidity, and uncertainty of interest costs
    C.   decreased risk of liquidity D.   certainty of interest costs E.   uncertainty of future liabilities
    67) Petrified Forest Skin Care, Inc. pays an annual perpetual dividend of $1.70 per share. If the stock is currently selling for $21.25 per share, what is the expected rate of return on this stock?
    A.   12.5% B.   36.13%
    C.   8.0% D.   13.6%
    68) Which of the following is most consistent with the hedging principle in working capital management?
    A.   Fixed assets should be financed with short-term notes payable. B.   Inventory should be financed with preferred stock. C.   Accounts receivable should be financed with short-term lines of credit.
    D.   Borrow on a floating rate basis to finance investments in permanent assets.
               
    69) An increase in future value can be caused by an increase in the __________.
    A.   original amount invested B.   annual interest rate and number of compounding periods
    C.   rate of return D.   dividends paid E.   starting value
    70) If the quote for a forward exchange contract is greater than the computed price, the forward contract is:
    A.   at equilibrium.
    B.   undervalued. C.   a good buy. D.   overvalued.
    71) Your company is considering an investment in a project which would require an initial outlay of $300,000 and produce expected cash flows in Years 1 through 5 of $87,385 per year. You have determined that the current after-tax cost of the firm’s capital (required rate of return) for each source of financing is as follows:
    Cost of debt     8%
    Cost of preferred stock           12%
    Cost of common stock            16%
    Long-term debt currently makes up 20% of the capital structure, preferred stock 10%, and common stock 70%. What is the net present value of this project?
    A.   $1,568
    B.   $871 C.   $1,241
    D.   $463
    72) Suppose you determine that the NPV of a project is $1,525,855. What does that mean?
    A.   The project’s IRR would have to be less that the firm’s discount rate. B.   The project would add value to the firm. C.   Under all conditions, the project’s payback would be less than the profitability index.
    D.   In all cases, investing in this project would be better than investing in a project that has an NPV of $850,000.
               
    73) The common stockholders are most concerned with:
    A.   the spread between the return generated on new investments and the investor’s required rate of return.
    B.   the size of the firm’s beginning earnings per share. C.   the risk of the investment. D.   the percentage of profits retained.
    74) PepsiCo calculates unlevered betas for each peer group in order to:
    A.   eliminate different financial risks.
    B.   eliminate competitive factors. C.   eliminate judgment factors. D.   eliminate different business risks.
    75) Which of the following best represents operating income?
    A.   Income from discontinued operations
    B.   Earnings before interest and taxes C.   Income from capital gains D.   Income after financing activities
    76) In comparison to the buying of final consumers, the purchasing of organizational buyers:
    A.   is even less predictable. B.   leans basically toward economy, quality, and dependability.
    C.   is always emotional. D.   is strictly economic and not at all emotional. E.   is always based on competitive bids from multiple suppliers.
               
    77) The basic objective of the U.S. market-directed economic system is to:
    A.   achieve an annual growth rate of at least 10 percent. B.   provide each person with an equal share of the economic output.
    C.   make the most efficient use of the country's resources. D.   minimize inflation. E.   satisfy consumer needs as they--the consumers--see them.
    78) Comparing GDP for foreign countries can help a marketing manager evaluate potential markets if the manager remembers that:
    A.   GDP measures show people's tendency to buy particular products. B.   income tends to be evenly distributed among consumers in most countries. C.   GDP estimates may not be very accurate for very different cultures and economies.
    D.   Other countries most likely don’t use the US Dollar as their primary currency.
    E.   GDP measures show the degree of competition in a market.
    79) A firm's "marketing mix" decision areas would NOT include:
    A.   Promotion.
    B.   People. C.   Price. D.   Place. E.   Product.
    80) __________ is a marketing management aid which refers to how customers think about proposed and/or present brands in a market.
    A.   Brand familiarity B.   Positioning
    C.   Market scanning D.   Customer relationship management (CRM)
    E.   Market segmentation
    81) The "four Ps" of a marketing mix are:
    A.   Production, Personnel, Price, and Physical Distribution
    B.   Promotion, Production, Price, and People C.   Potential customers, Product, Price, and Personal Selling
    D.   Product, Price, Promotion, and Profit E.   Product, Place, Promotion, and Price
    82) When evaluating macro-marketing:
    A.   the evaluation is necessarily subjective. B.   the best approach is to consider the profit generated by individual firms within the overall system.
    C.   one must determine how efficiently the society's resources are used. D.   one must consider the society’s role in the marketing system. E.   one must consider each individual firm's role in the marketing system.
    83) A cluster analysis of the "toothpaste market" would probably show that:
    A.   the broad product-market can be served effectively with one marketing mix.
    B.   most consu
              57) What is _____ is not necessarily _____. A. Illegal, unethical B. Unethical, legal C. Ethical, illegal D. Unethical, illegal E. Ethical, legal        

    BUS/475 Guide 4


    1) The cost principle requires that when assets are acquired, they be recorded at __________.
    A.   list price B.   selling price C.   exchange price paid D.   appraisal value
    2) "Generally accepted" in the phrase generally accepted accounting principles means that the principles __________.
    A.   have been approved for use by the managements of business firms
    B.   have been approved by the Internal Revenue Service C.   have substantial authoritative support D.   are proven theories of accounting
    3) The standards and rules that are recognized as a general guide for financial reporting are called __________.
    A.   standards of financial reporting B.   operating guidelines C.   generally accepted accounting principles D.   generally accepted accounting standards
    4) Sam's Used Cars uses the specific identification method of costing inventory. During March, Sam purchased three cars for $6,000, $7,500, and $9,750, respectively. During March, two cars are sold for $9,000 each. Sam determines that at March 31, the $9,750 car is still on hand. What is Sam’s gross profit for March?
    A.   $8,250
    B.   $750 C.   $4,500
    D.   $5,250
               
    5) Hess, Inc. sells a single product with a contribution margin of $12 per unit and fixed costs of $74,400 and sales for the current year of $100,000. How much is Hess’s break even point?
    A.   2,133 units
    B.   6,200 units
    C.   $25,600 D.   4,600 units
               
    6) As Plant Controller, you are trying to determine which costs over which you have the most control on a day to day basis. Your goal is to achieve better profitability. The Plant Operations Manager suggests that overhead is the easiest area to directly reduce costs. Which of the following items would be classified as manufacturing overhead?
    A.   The western division’s vice president’s salary
    B.   Cost of landscaping the corporate office C.   General corporate liability insurance D.   Factory janitor
    7) What is the preparation of reports for each level of responsibility in the company’s organization chart called?
    A.   Master budgeting analysis
    B.   Exception reporting C.   Responsibility reporting
    D.   Static reporting
    8) Disney’s variable costs are 30% of sales. The company is contemplating an advertising campaign that will cost $22,000. If sales are expected to increase $40,000, by how much will the company's net income increase?
    A.   $6,000 B.   $12,000
    C.   $28,000
    D.   $18,000
               
    9) The cost of an asset and its fair market value are __________.
    A.   never the same B.   irrelevant when the asset is used by the business in its operations
    C.   the same on the date of acquisition D.   the same when the asset is sold
    10) Which one of the following is a product cost?
    A.   Indirect labor B.   Sales person’s salaries
    C.   Advertising costs D.   Office salaries
    11) What exists when budgeted costs exceed actual results?
    A.   A budgeting error B.   An unfavorable difference
    C.   An excess profit D.   A favorable difference
    12) The income statement and balance sheet columns of Pine Company's worksheet reflects the following totals:
                            Income Statement                  Balance Sheet
                Dr.       Cr.                   Dr.       Cr.
    Totals              $58,000           $48,000                       $34,000           $44,000
               

    Closing entries are necessary for __________.
    A.   permanent accounts only B.   both permanent and temporary accounts
    C.   permanent or real accounts only D.   temporary accounts only
    13) Managerial accounting __________.
    A.   is concerned with costing products B.   pertains to the entity as a whole and is highly aggregated
    C.   places emphasis on special-purpose information D.   is governed by generally accepted accounting principles
               
    14) H55 Company sells two products, beer and wine. Beer has a 10 percent profit margin and wine has a 12 percent profit margin. Beer has a 27 percent contribution margin and wine has a 25 percent contribution margin. If other factors are equal, which product should H55 push to customers?
    A.   Beer B.   Selling either results in the same additional income for the company
    C.   It should sell an equal quantity of both D.   Wine
    15) Lekeisha's income exceeds her expenditures. Lekeisha is a __________.
    A.   saver who demands money from the financial system B.   borrower who demands money from the financial system
    C.   borrower who supplies money to the financial system D.   saver who supplies money to the financial system
    16) Maurice receives $100 as a birthday gift. In deciding how to spend the money, he narrows his options down to four choices: Option A, Option B, Option C, and Option D. Each option costs $100. Finally he decides on Option B. The opportunity cost of this decision is __________.
    A.   the value to Maurice of the option he would have chosen had Option B not been available
    B.   $100 C.   $300 D.   the value to Maurice of Options A, C and D combined
    17) A production possibilities frontier will be a straight line if __________.
    A.   the economy is producing efficiently B.   the economy is engaged in trade with at least one other economy C.   increasing the production of one good by x units entails no opportunity cost in terms of the other good
    D.   increasing the production of one good by x units entails a constant opportunity cost in terms of the other good
               
    18) In economics, the cost of something is __________.
    A.   what you give up to get it B.   often impossible to quantify, even in principle C.   the dollar amount of obtaining it D.   always measured in units of time given up to get it
               
    19) A tax on an imported good is called a __________.
    A.   supply tax
    B.   trade tax C.   quota D.   tariff
    20) Which of the following statements about GDP is correct?
    A.   GDP is to a nation’s economy as household income is to a household. B.   GDP increases if the total population increases. C.   GDP measures two things at once: the total income of everyone in the economy and the unemployment rate.
    D.   Money continuously flows from households to government and then back to households, and GDP measures this flow of money.
               
    21) In computing GDP, market prices are used to value final goods and services because __________.
    A.   if market prices are out of line with how people value goods, the government sets price ceilings and price floors
    B.   Market prices are not used in computing GDP C.   market prices reflect the values of goods and services D.   market prices do not change much over time, so it is easy to make comparisons between years

    22) Which of the following statements about GDP is correct?
    A.   Nominal GDP values production at market prices, whereas real GDP values production at the cost of the resources used in the production process.
    B.   Nominal GDP consistently underestimates the value of production, whereas real GDP consistently overestimates the value of production.
    C.   Nominal GDP values production at current prices, whereas real GDP values production at constant prices.
    D.   Nominal GDP values production at constant prices, whereas real GDP values production at current prices.
               
    23) Which of the following is not correct?
    A.   The U.S. debt per-person is large compared with average lifetime income.
    B.   In 2005, the U.S. government had a deficit. C.   A potential cost of deficits is that they reduce national saving, thereby reducing growth of the capital stock and output growth.
    D.   Deficits give people the opportunity to consume at the expense of their children, but they do not require them to do so.
               
    24) The part of the balance of payments account that lists all long-term flows of payments is called the:
    A.   balance of trade. B.   financial and capital account.
    C.   government financial account.
    D.   current account.
    25) Edward Prescott and Finn Kydland won the Nobel Prize in Economics in 2004. One of their contributions was to argue that if a central bank could convince people to expect zero inflation, then the Fed would be tempted to raise output by increasing inflation. This possibility is known as __________.
    A.   the sacrifice ratio dilemma B.   the monetary policy reaction lag
    C.   the time inconsistency of policy
    D.   inflation targeting
    26) In general, the longest lag for __________.
    A.   fiscal policy is the time it takes to change policy, while for monetary policy the longest lag is the time it takes for policy to affect aggregate demand
    B.   both fiscal and monetary policy is the time it takes for policy to affect aggregate demand
    C.   monetary policy is the time it takes to change policy, while for fiscal policy the longest lag is the time it takes for policy to affect aggregate demand
    D.   both fiscal and monetary policy is the time it takes to change policy
    27) Consider two items that might be included in GDP: (1) The estimated rental value of owner-occupied housing; and (2) purchases of newly-constructed homes. How are these two items accounted for when GDP is calculated?
    A.   Only item (2) is included in GDP and it is included in the investment component.
    B.   Item (1) is included in the consumption component, while item (2) is included in the investment component.
    C.   Item (1) is included in the investment component, while item (2) is included in the consumption component.
    D.   Both item (1) and item (2) are included in the consumption component of GDP.

    28) Managers will utilize __________ skills with increasing frequency as they rise within an organization.
    A.   Professional B.   Interpersonal and communication
    C.   Technical D.   Professional E.   Conceptual and decision
    29) Which of these represent skills that managers need?
    A.   Interpersonal, quantitative, and professional B.   Technical, interpersonal & communication and conceptual & decision making
    C.   Professional, technical and interpersonal & communication D.   Conceptual & decision making, professional and technical E.   Interpersonal & communication, conceptual & decision making and professional
               
    30) Building a dynamic organization is another way of describing which function of management?
    A.   Staffing B.   Organizing
    C.   Leading D.   Controlling
    E.   Planning
    31) Your roommate is interested in starting a business and everybody has been giving him different information about being an entrepreneur. Since you have been studying about entrepreneurship and new ventures, which of these would you tell him is true?
    A.   Anyone can start a business B.   All entrepreneurs need venture capital in order to get started C.   Successful entrepreneurs take very careful, calculated risks D.   Entrepreneurs are their own bosses and completely independent
    E.   Money should not be considered a start-up ingredient
    32) The term used to refer to all kinds of differences including religious affiliation, age, disability status, economic class and lifestyle in addition to gender, race, ethnicity and nationality is:
    A.   Diversity B.   Managerial ethics
    C.   Recruiting D.   Employment E.   Selection
    33) A manager's ability to stimulate people to be high performers is referred to as:
    A.   Planning B.   Supervising
    C.   Controlling
    D.   Organizing E.   Leading
    34) A series of quality standards developed by a committee working under the International Organization for Standardization to improve total quality in all businesses for the benefit of both producers and consumers is:
    A.   Total quality management B.   Customer-based integration C.   Computer-integrated manufacturing (CIM)
    D.   Just-in-time control (JIT)
    E.   ISO 9000
    35) Japanese manufacturers' kaizen (continuous improvement) programs enable them to maintain:
    A.   A strategic alliance B.   A homogeneous workforce C.   Positive working relationships with all employees
    D.   A Learning advantage over their competition E.   Larger, faster facilities
    36) Listening to employee suggestions, gaining support for organizational objectives and fostering an atmosphere of teamwork are all considered:
    A.   Technical skills B.   Conceptual C.   Professional skills D.   Interpersonal/communication skills
    E.   Diagnostic skills
    37) The basic components of an effective sexual harassment policy include the following EXCEPT:
    A.   To develop an organization wide policy on sexual harassment B.   To establish a means for ongoing training C.   To act immediately when employees complain of sexual harassment
    D.   To establish a performance appraisal system E.   To establish a formal complaint procedure
    38) Teams that operate separately from the regular work structure and exist temporarily are known as:
    A.   Management teams B.   Transnational teams
    C.   Self-managed teams
    D.   Parallel teams E.   Self-designing teams
               
    39) The Aquatic Center, Inc. periodically reviews the goals of the company. During the process, The Aquatic Center managers analyze their current strategies as compared to their competitors, determine goals that they will pursue and decide upon specific actions for each area of the company to take in pursuit of these goals. The Aquatic Center managers have been engaged in the management function of:
    A.   Goal Coordination
    B.   Controlling C.   Organizing D.   Staffing E.   Planning
    40) As related to managing of human resources, diversity refers to:
    A.   Differences in demographics (such as age, race, gender, disability status, lifestyle, veteran status, educational level, etc.)
    B.   Differences in pay methods (such as hourly, salaried, overtime, hazard-pay, commissioned, etc.)
    C.   Differences in employee benefit plans (such as pensions, insurance, vacations, memberships, etc.)
    D.   Differences in retention strategies (such as training, hiring, incentives, etc) E.   Differences in recruiting methods (such as newspapers, schools, flyers, magazines, agencies, etc.)
               
    41) __________ is the process of working with people and resources to accomplish organizational goals.
    A.   Controlling B.   Decision making
    C.   Planning D.   Supervising E.   Management
    42) Twelve randomly-chosen students were asked how many times they had missed class during a certain semester, with this result: 2, 1, 5, 1, 1, 3, 4, 3, 1, 1, 5, 18.
    For this sample, the median is _____.
    A.   3 B.   3.5
    C.   2.5
    D.   2
    43) Use the following table to answer question:
     P(S | W) is approximately _____.
    A.   .40
    B.   .30
    C.   .12
    D.   .58
               
    44) Use the following table to answer question:
     P(M  A) is approximately _____.
    A.   .50 B.   .625
    C.   .125
    D.   .25
    45) Dullco Manufacturing claims that its alkaline batteries last forty hours on average in a certain type of portable CD player. Tests on a random sample of 18 batteries showed a mean battery life of 37.8 hours with a standard deviation of 5.4 hours.
    In determining the p-value for reporting the study's findings, which of the following is true?
    A.   The p-value is equal to .05. B.   The p-value is greater than .05. C.   The p-value cannot be determined without specifying  . D.   The p-value is less than .05.
    46) William used a sample of 68 U.S. cities to estimate the relationship between Crime (annual property crimes per 100,000 persons) and Income (median income per capita). His estimated regression equation was Crime = 428 + .050 Income.
    Which outcomes would be likely in a bivariate regression on 45 randomly chosen U.S. cities in 2005 with
    Y = number of robberies in each city (thousands of robberies) and
    X = size of police force in each city (thousands of police)?
    A.   High R2 (due to city size). B.   Positive slope (due to city size).
    C.   No correlation. D.   Autocorrelation.
    47) Twelve randomly-chosen students were asked how many times they had missed class during a certain semester, with this result: 2, 1, 5, 1, 1, 3, 4, 3, 1, 1, 5, 18.
    For this sample, which measure of central tendency is least representative of the “typical” student?
    A.   Midrange
    B.   Mean C.   Mode D.   Median
               
    48) Likely reasons for inaccurate control limits would include which of the following?
    A.   Process variation was not zero, as expected. B.   The engineering parameter for variance is unknown.
    C.   There was insufficient preliminary sampling. D.   The engineers were underpaid for their work.
    49) You are faced with a linear programming objective function of:
    Max P = $20X + $30Y
    and constraints of:
    3X + 4Y = 24 (Constraint A)
    5X – Y = 18 (Constraint B)
    You discover that the shadow price for Constraint A is 7.5 and the shadow price for Constraint B is 0. Which of these statements is TRUE?
    A.   The most you would want to pay for an additional unit of A would be $7.50.
    B.   You can change quantities of X and Y at no cost for Constraint B. C.   For every additional unit of the objective function you create, the price of A rises by $7.50.
    D.   For every additional unit of the objective function you create, you lose 0 units of B.
               
    50) A project has three paths. A–B–C has a length of 25 days. A–D–C has a length of 15 days. Finally, A–E–C has a length of 20 days. Which one of the following statements is TRUE?
    A.   The expected duration of this project is 25 + 15 + 20 = 60 days.
    B.   A–D–C is the critical path. C.   The expected duration of this project is 25 days. D.   A–B–C has the most slack.
    51) Which one of the following statements concerning production and staffing plans is best?
    A.   A master production schedule is a projected statement of income, costs, and profits.
    B.   Aggregation can be performed along three dimensions: product families, labor, and time.
    C.   Production plans are based primarily on information from the master production plan.
    D.   A staffing plan is the intermediate link between the business plan and the master production schedule.
               
    52) While glancing over the sensitivity report, you note that the stitching labor has a shadow price of $10 and a lower limit of 24 hours with an upper limit of 36 hours. If your original right hand value for stitching labor was 30 hours, you know that:
    A.   you would lose $80 if one of your workers missed an entire 8 hour shift. B.   the next worker that offers to work an extra 8 hours should receive at least $80.
    C.   you would be willing pay up to $60 for someone to work another 6 hours.
    D.   you can send someone home 6 hours early and still pay them the $60 they would have earned while on the clock.

    53) The costs of delivering products in the _____ channel are much higher than delivering products in the _____ channel.
    A.   physical, digital B.   e-commerce, digital
    C.   physical, financial D.   digital, e-commerce
    E.   digital, physical
    54) When customers access a Web site and make purchases, they generate __________.
    A.   Tracking cookies B.   Web data C.   Information D.   Clickstream data
    E.   Hyperlink data
    55) _____ is the integration of economic, social, cultural, and ecological facets of life, enabled by information.
    A.   regionalization B.   globalization C.   nationalization D.   business environment
               
    56) Various organizations that promote fair and responsible use of information systems often develop __________.
    A.   a code of ethics B.   responsibility charters
    C.   a strategic plan D.   a mission statement E.   a goals outline
    57) What is _____ is not necessarily _____.
    A.   Illegal, unethical B.   Unethical, legal C.   Ethical, illegal D.   Unethical, illegal
    E.   Ethical, legal
    58) _____ provides users with a view of what is happening, where _____ addresses why it is happening.
    A.   Multidimensional data analysis, structured query language
    B.   Multidimensional data analysis, neural networks C.   Data mining, multidimensional data analysis D.   Data mining, expert system E.   Multidimensional data analysis, data mining
    59) Computer support is greatest for which of the following problems?
    A.   Semistructured and strategic planning B.   Semistructured and management control
    C.   Unstructured and operational control D.   Structured and operational control E.   Structured and management control
    60) The management cockpit best exemplifies which type of system?
    A.   Decision support system B.   Functional area information system
    C.   Expert system D.   Digital dashboard E.   Group decision support system
    61) _____ is the efficient and effective execution of specific tasks.
    A.   Operational control
    B.   Expertise C.   Management control
    D.   Strategic planning E.   Wisdom
    62) Geocoding is __________.
    A.   accessing geographical information B.   integrating maps with spatially oriented databases and other databases
    C.   integrating organizational transactions with spatially oriented databases D.   programming spatially oriented databases E.   encrypting spatial information
    63) At 8% compounded annually, how long will it take $750 to double?
    A.   48 months
    B.   6.5 years C.   9 years D.   12 years
    64) Which of the following represents an attempt to measure the earnings of the firm’s operations over a given time period?
    A.   Cash flow statement
    B.   Balance sheet C.   Income statement D.   Quarterly statement
               
    65) A machine costs $1,000, has a three-year life, and has an estimated salvage value of $100. It will generate after-tax annual cash flows (ACF) of $600 a year, starting next year. If your required rate of return for the project is 10%, what is the NPV of this investment? (Round your answerwer to the nearest $10.)
    A.   $570 B.   $490 C.   $900 D.   -$150
               
    66) Disadvantages of using current liabilities as opposed to long-term debt include:
    A.   higher cash flow exposure B.   greater risk of illiquidity, and uncertainty of interest costs
    C.   decreased risk of liquidity D.   certainty of interest costs E.   uncertainty of future liabilities
    67) Petrified Forest Skin Care, Inc. pays an annual perpetual dividend of $1.70 per share. If the stock is currently selling for $21.25 per share, what is the expected rate of return on this stock?
    A.   12.5% B.   36.13%
    C.   8.0% D.   13.6%
    68) Which of the following is most consistent with the hedging principle in working capital management?
    A.   Fixed assets should be financed with short-term notes payable. B.   Inventory should be financed with preferred stock. C.   Accounts receivable should be financed with short-term lines of credit.
    D.   Borrow on a floating rate basis to finance investments in permanent assets.
               
    69) An increase in future value can be caused by an increase in the __________.
    A.   original amount invested B.   annual interest rate and number of compounding periods
    C.   rate of return D.   dividends paid E.   starting value
    70) If the quote for a forward exchange contract is greater than the computed price, the forward contract is:
    A.   at equilibrium.
    B.   undervalued. C.   a good buy. D.   overvalued.
    71) Your company is considering an investment in a project which would require an initial outlay of $300,000 and produce expected cash flows in Years 1 through 5 of $87,385 per year. You have determined that the current after-tax cost of the firm’s capital (required rate of return) for each source of financing is as follows:
    Cost of debt     8%
    Cost of preferred stock           12%
    Cost of common stock            16%
    Long-term debt currently makes up 20% of the capital structure, preferred stock 10%, and common stock 70%. What is the net present value of this project?
    A.   $1,568
    B.   $871 C.   $1,241
    D.   $463
    72) Suppose you determine that the NPV of a project is $1,525,855. What does that mean?
    A.   The project’s IRR would have to be less that the firm’s discount rate. B.   The project would add value to the firm. C.   Under all conditions, the project’s payback would be less than the profitability index.
    D.   In all cases, investing in this project would be better than investing in a project that has an NPV of $850,000.
               
    73) The common stockholders are most concerned with:
    A.   the spread between the return generated on new investments and the investor’s required rate of return.
    B.   the size of the firm’s beginning earnings per share. C.   the risk of the investment. D.   the percentage of profits retained.
    74) PepsiCo calculates unlevered betas for each peer group in order to:
    A.   eliminate different financial risks.
    B.   eliminate competitive factors. C.   eliminate judgment factors. D.   eliminate different business risks.
    75) Which of the following best represents operating income?
    A.   Income from discontinued operations
    B.   Earnings before interest and taxes C.   Income from capital gains D.   Income after financing activities
    76) In comparison to the buying of final consumers, the purchasing of organizational buyers:
    A.   is even less predictable. B.   leans basically toward economy, quality, and dependability.
    C.   is always emotional. D.   is strictly economic and not at all emotional. E.   is always based on competitive bids from multiple suppliers.
               
    77) The basic objective of the U.S. market-directed economic system is to:
    A.   achieve an annual growth rate of at least 10 percent. B.   provide each person with an equal share of the economic output.
    C.   make the most efficient use of the country's resources. D.   minimize inflation. E.   satisfy consumer needs as they--the consumers--see them.
    78) Comparing GDP for foreign countries can help a marketing manager evaluate potential markets if the manager remembers that:
    A.   GDP measures show people's tendency to buy particular products. B.   income tends to be evenly distributed among consumers in most countries. C.   GDP estimates may not be very accurate for very different cultures and economies.
    D.   Other countries most likely don’t use the US Dollar as their primary currency.
    E.   GDP measures show the degree of competition in a market.
    79) A firm's "marketing mix" decision areas would NOT include:
    A.   Promotion.
    B.   People. C.   Price. D.   Place. E.   Product.
    80) __________ is a marketing management aid which refers to how customers think about proposed and/or present brands in a market.
    A.   Brand familiarity B.   Positioning
    C.   Market scanning D.   Customer relationship management (CRM)
    E.   Market segmentation
    81) The "four Ps" of a marketing mix are:
    A.   Production, Personnel, Price, and Physical Distribution
    B.   Promotion, Production, Price, and People C.   Potential customers, Product, Price, and Personal Selling
    D.   Product, Price, Promotion, and Profit E.   Product, Place, Promotion, and Price
    82) When evaluating macro-marketing:
    A.   the evaluation is necessarily subjective. B.   the best approach is to consider the profit generated by individual firms within the overall system.
    C.   one must determine how efficiently the society's resources are used. D.   one must consider the society’s role in the marketing system. E.   one must consider each individual firm's role in the marketing system.
    83) A cluster analysis of the "toothpaste market" would probably show that:
    A.   the broad product-market can be served effectively with one marketing mix.
    B.   most consu
              58) _____ provides users with a view of what is happening, where _____ addresses why it is happening. A. Multidimensional data analysis, structured query language B. Multidimensional data analysis, neural networks C. Data mining, multidimensional data analysis D. Data mining, expert system E. Multidimensional data analysis, data mining        

    BUS/475 Guide 4


    1) The cost principle requires that when assets are acquired, they be recorded at __________.
    A.   list price B.   selling price C.   exchange price paid D.   appraisal value
    2) "Generally accepted" in the phrase generally accepted accounting principles means that the principles __________.
    A.   have been approved for use by the managements of business firms
    B.   have been approved by the Internal Revenue Service C.   have substantial authoritative support D.   are proven theories of accounting
    3) The standards and rules that are recognized as a general guide for financial reporting are called __________.
    A.   standards of financial reporting B.   operating guidelines C.   generally accepted accounting principles D.   generally accepted accounting standards
    4) Sam's Used Cars uses the specific identification method of costing inventory. During March, Sam purchased three cars for $6,000, $7,500, and $9,750, respectively. During March, two cars are sold for $9,000 each. Sam determines that at March 31, the $9,750 car is still on hand. What is Sam’s gross profit for March?
    A.   $8,250
    B.   $750 C.   $4,500
    D.   $5,250
               
    5) Hess, Inc. sells a single product with a contribution margin of $12 per unit and fixed costs of $74,400 and sales for the current year of $100,000. How much is Hess’s break even point?
    A.   2,133 units
    B.   6,200 units
    C.   $25,600 D.   4,600 units
               
    6) As Plant Controller, you are trying to determine which costs over which you have the most control on a day to day basis. Your goal is to achieve better profitability. The Plant Operations Manager suggests that overhead is the easiest area to directly reduce costs. Which of the following items would be classified as manufacturing overhead?
    A.   The western division’s vice president’s salary
    B.   Cost of landscaping the corporate office C.   General corporate liability insurance D.   Factory janitor
    7) What is the preparation of reports for each level of responsibility in the company’s organization chart called?
    A.   Master budgeting analysis
    B.   Exception reporting C.   Responsibility reporting
    D.   Static reporting
    8) Disney’s variable costs are 30% of sales. The company is contemplating an advertising campaign that will cost $22,000. If sales are expected to increase $40,000, by how much will the company's net income increase?
    A.   $6,000 B.   $12,000
    C.   $28,000
    D.   $18,000
               
    9) The cost of an asset and its fair market value are __________.
    A.   never the same B.   irrelevant when the asset is used by the business in its operations
    C.   the same on the date of acquisition D.   the same when the asset is sold
    10) Which one of the following is a product cost?
    A.   Indirect labor B.   Sales person’s salaries
    C.   Advertising costs D.   Office salaries
    11) What exists when budgeted costs exceed actual results?
    A.   A budgeting error B.   An unfavorable difference
    C.   An excess profit D.   A favorable difference
    12) The income statement and balance sheet columns of Pine Company's worksheet reflects the following totals:
                            Income Statement                  Balance Sheet
                Dr.       Cr.                   Dr.       Cr.
    Totals              $58,000           $48,000                       $34,000           $44,000
               

    Closing entries are necessary for __________.
    A.   permanent accounts only B.   both permanent and temporary accounts
    C.   permanent or real accounts only D.   temporary accounts only
    13) Managerial accounting __________.
    A.   is concerned with costing products B.   pertains to the entity as a whole and is highly aggregated
    C.   places emphasis on special-purpose information D.   is governed by generally accepted accounting principles
               
    14) H55 Company sells two products, beer and wine. Beer has a 10 percent profit margin and wine has a 12 percent profit margin. Beer has a 27 percent contribution margin and wine has a 25 percent contribution margin. If other factors are equal, which product should H55 push to customers?
    A.   Beer B.   Selling either results in the same additional income for the company
    C.   It should sell an equal quantity of both D.   Wine
    15) Lekeisha's income exceeds her expenditures. Lekeisha is a __________.
    A.   saver who demands money from the financial system B.   borrower who demands money from the financial system
    C.   borrower who supplies money to the financial system D.   saver who supplies money to the financial system
    16) Maurice receives $100 as a birthday gift. In deciding how to spend the money, he narrows his options down to four choices: Option A, Option B, Option C, and Option D. Each option costs $100. Finally he decides on Option B. The opportunity cost of this decision is __________.
    A.   the value to Maurice of the option he would have chosen had Option B not been available
    B.   $100 C.   $300 D.   the value to Maurice of Options A, C and D combined
    17) A production possibilities frontier will be a straight line if __________.
    A.   the economy is producing efficiently B.   the economy is engaged in trade with at least one other economy C.   increasing the production of one good by x units entails no opportunity cost in terms of the other good
    D.   increasing the production of one good by x units entails a constant opportunity cost in terms of the other good
               
    18) In economics, the cost of something is __________.
    A.   what you give up to get it B.   often impossible to quantify, even in principle C.   the dollar amount of obtaining it D.   always measured in units of time given up to get it
               
    19) A tax on an imported good is called a __________.
    A.   supply tax
    B.   trade tax C.   quota D.   tariff
    20) Which of the following statements about GDP is correct?
    A.   GDP is to a nation’s economy as household income is to a household. B.   GDP increases if the total population increases. C.   GDP measures two things at once: the total income of everyone in the economy and the unemployment rate.
    D.   Money continuously flows from households to government and then back to households, and GDP measures this flow of money.
               
    21) In computing GDP, market prices are used to value final goods and services because __________.
    A.   if market prices are out of line with how people value goods, the government sets price ceilings and price floors
    B.   Market prices are not used in computing GDP C.   market prices reflect the values of goods and services D.   market prices do not change much over time, so it is easy to make comparisons between years

    22) Which of the following statements about GDP is correct?
    A.   Nominal GDP values production at market prices, whereas real GDP values production at the cost of the resources used in the production process.
    B.   Nominal GDP consistently underestimates the value of production, whereas real GDP consistently overestimates the value of production.
    C.   Nominal GDP values production at current prices, whereas real GDP values production at constant prices.
    D.   Nominal GDP values production at constant prices, whereas real GDP values production at current prices.
               
    23) Which of the following is not correct?
    A.   The U.S. debt per-person is large compared with average lifetime income.
    B.   In 2005, the U.S. government had a deficit. C.   A potential cost of deficits is that they reduce national saving, thereby reducing growth of the capital stock and output growth.
    D.   Deficits give people the opportunity to consume at the expense of their children, but they do not require them to do so.
               
    24) The part of the balance of payments account that lists all long-term flows of payments is called the:
    A.   balance of trade. B.   financial and capital account.
    C.   government financial account.
    D.   current account.
    25) Edward Prescott and Finn Kydland won the Nobel Prize in Economics in 2004. One of their contributions was to argue that if a central bank could convince people to expect zero inflation, then the Fed would be tempted to raise output by increasing inflation. This possibility is known as __________.
    A.   the sacrifice ratio dilemma B.   the monetary policy reaction lag
    C.   the time inconsistency of policy
    D.   inflation targeting
    26) In general, the longest lag for __________.
    A.   fiscal policy is the time it takes to change policy, while for monetary policy the longest lag is the time it takes for policy to affect aggregate demand
    B.   both fiscal and monetary policy is the time it takes for policy to affect aggregate demand
    C.   monetary policy is the time it takes to change policy, while for fiscal policy the longest lag is the time it takes for policy to affect aggregate demand
    D.   both fiscal and monetary policy is the time it takes to change policy
    27) Consider two items that might be included in GDP: (1) The estimated rental value of owner-occupied housing; and (2) purchases of newly-constructed homes. How are these two items accounted for when GDP is calculated?
    A.   Only item (2) is included in GDP and it is included in the investment component.
    B.   Item (1) is included in the consumption component, while item (2) is included in the investment component.
    C.   Item (1) is included in the investment component, while item (2) is included in the consumption component.
    D.   Both item (1) and item (2) are included in the consumption component of GDP.

    28) Managers will utilize __________ skills with increasing frequency as they rise within an organization.
    A.   Professional B.   Interpersonal and communication
    C.   Technical D.   Professional E.   Conceptual and decision
    29) Which of these represent skills that managers need?
    A.   Interpersonal, quantitative, and professional B.   Technical, interpersonal & communication and conceptual & decision making
    C.   Professional, technical and interpersonal & communication D.   Conceptual & decision making, professional and technical E.   Interpersonal & communication, conceptual & decision making and professional
               
    30) Building a dynamic organization is another way of describing which function of management?
    A.   Staffing B.   Organizing
    C.   Leading D.   Controlling
    E.   Planning
    31) Your roommate is interested in starting a business and everybody has been giving him different information about being an entrepreneur. Since you have been studying about entrepreneurship and new ventures, which of these would you tell him is true?
    A.   Anyone can start a business B.   All entrepreneurs need venture capital in order to get started C.   Successful entrepreneurs take very careful, calculated risks D.   Entrepreneurs are their own bosses and completely independent
    E.   Money should not be considered a start-up ingredient
    32) The term used to refer to all kinds of differences including religious affiliation, age, disability status, economic class and lifestyle in addition to gender, race, ethnicity and nationality is:
    A.   Diversity B.   Managerial ethics
    C.   Recruiting D.   Employment E.   Selection
    33) A manager's ability to stimulate people to be high performers is referred to as:
    A.   Planning B.   Supervising
    C.   Controlling
    D.   Organizing E.   Leading
    34) A series of quality standards developed by a committee working under the International Organization for Standardization to improve total quality in all businesses for the benefit of both producers and consumers is:
    A.   Total quality management B.   Customer-based integration C.   Computer-integrated manufacturing (CIM)
    D.   Just-in-time control (JIT)
    E.   ISO 9000
    35) Japanese manufacturers' kaizen (continuous improvement) programs enable them to maintain:
    A.   A strategic alliance B.   A homogeneous workforce C.   Positive working relationships with all employees
    D.   A Learning advantage over their competition E.   Larger, faster facilities
    36) Listening to employee suggestions, gaining support for organizational objectives and fostering an atmosphere of teamwork are all considered:
    A.   Technical skills B.   Conceptual C.   Professional skills D.   Interpersonal/communication skills
    E.   Diagnostic skills
    37) The basic components of an effective sexual harassment policy include the following EXCEPT:
    A.   To develop an organization wide policy on sexual harassment B.   To establish a means for ongoing training C.   To act immediately when employees complain of sexual harassment
    D.   To establish a performance appraisal system E.   To establish a formal complaint procedure
    38) Teams that operate separately from the regular work structure and exist temporarily are known as:
    A.   Management teams B.   Transnational teams
    C.   Self-managed teams
    D.   Parallel teams E.   Self-designing teams
               
    39) The Aquatic Center, Inc. periodically reviews the goals of the company. During the process, The Aquatic Center managers analyze their current strategies as compared to their competitors, determine goals that they will pursue and decide upon specific actions for each area of the company to take in pursuit of these goals. The Aquatic Center managers have been engaged in the management function of:
    A.   Goal Coordination
    B.   Controlling C.   Organizing D.   Staffing E.   Planning
    40) As related to managing of human resources, diversity refers to:
    A.   Differences in demographics (such as age, race, gender, disability status, lifestyle, veteran status, educational level, etc.)
    B.   Differences in pay methods (such as hourly, salaried, overtime, hazard-pay, commissioned, etc.)
    C.   Differences in employee benefit plans (such as pensions, insurance, vacations, memberships, etc.)
    D.   Differences in retention strategies (such as training, hiring, incentives, etc) E.   Differences in recruiting methods (such as newspapers, schools, flyers, magazines, agencies, etc.)
               
    41) __________ is the process of working with people and resources to accomplish organizational goals.
    A.   Controlling B.   Decision making
    C.   Planning D.   Supervising E.   Management
    42) Twelve randomly-chosen students were asked how many times they had missed class during a certain semester, with this result: 2, 1, 5, 1, 1, 3, 4, 3, 1, 1, 5, 18.
    For this sample, the median is _____.
    A.   3 B.   3.5
    C.   2.5
    D.   2
    43) Use the following table to answer question:
     P(S | W) is approximately _____.
    A.   .40
    B.   .30
    C.   .12
    D.   .58
               
    44) Use the following table to answer question:
     P(M  A) is approximately _____.
    A.   .50 B.   .625
    C.   .125
    D.   .25
    45) Dullco Manufacturing claims that its alkaline batteries last forty hours on average in a certain type of portable CD player. Tests on a random sample of 18 batteries showed a mean battery life of 37.8 hours with a standard deviation of 5.4 hours.
    In determining the p-value for reporting the study's findings, which of the following is true?
    A.   The p-value is equal to .05. B.   The p-value is greater than .05. C.   The p-value cannot be determined without specifying  . D.   The p-value is less than .05.
    46) William used a sample of 68 U.S. cities to estimate the relationship between Crime (annual property crimes per 100,000 persons) and Income (median income per capita). His estimated regression equation was Crime = 428 + .050 Income.
    Which outcomes would be likely in a bivariate regression on 45 randomly chosen U.S. cities in 2005 with
    Y = number of robberies in each city (thousands of robberies) and
    X = size of police force in each city (thousands of police)?
    A.   High R2 (due to city size). B.   Positive slope (due to city size).
    C.   No correlation. D.   Autocorrelation.
    47) Twelve randomly-chosen students were asked how many times they had missed class during a certain semester, with this result: 2, 1, 5, 1, 1, 3, 4, 3, 1, 1, 5, 18.
    For this sample, which measure of central tendency is least representative of the “typical” student?
    A.   Midrange
    B.   Mean C.   Mode D.   Median
               
    48) Likely reasons for inaccurate control limits would include which of the following?
    A.   Process variation was not zero, as expected. B.   The engineering parameter for variance is unknown.
    C.   There was insufficient preliminary sampling. D.   The engineers were underpaid for their work.
    49) You are faced with a linear programming objective function of:
    Max P = $20X + $30Y
    and constraints of:
    3X + 4Y = 24 (Constraint A)
    5X – Y = 18 (Constraint B)
    You discover that the shadow price for Constraint A is 7.5 and the shadow price for Constraint B is 0. Which of these statements is TRUE?
    A.   The most you would want to pay for an additional unit of A would be $7.50.
    B.   You can change quantities of X and Y at no cost for Constraint B. C.   For every additional unit of the objective function you create, the price of A rises by $7.50.
    D.   For every additional unit of the objective function you create, you lose 0 units of B.
               
    50) A project has three paths. A–B–C has a length of 25 days. A–D–C has a length of 15 days. Finally, A–E–C has a length of 20 days. Which one of the following statements is TRUE?
    A.   The expected duration of this project is 25 + 15 + 20 = 60 days.
    B.   A–D–C is the critical path. C.   The expected duration of this project is 25 days. D.   A–B–C has the most slack.
    51) Which one of the following statements concerning production and staffing plans is best?
    A.   A master production schedule is a projected statement of income, costs, and profits.
    B.   Aggregation can be performed along three dimensions: product families, labor, and time.
    C.   Production plans are based primarily on information from the master production plan.
    D.   A staffing plan is the intermediate link between the business plan and the master production schedule.
               
    52) While glancing over the sensitivity report, you note that the stitching labor has a shadow price of $10 and a lower limit of 24 hours with an upper limit of 36 hours. If your original right hand value for stitching labor was 30 hours, you know that:
    A.   you would lose $80 if one of your workers missed an entire 8 hour shift. B.   the next worker that offers to work an extra 8 hours should receive at least $80.
    C.   you would be willing pay up to $60 for someone to work another 6 hours.
    D.   you can send someone home 6 hours early and still pay them the $60 they would have earned while on the clock.

    53) The costs of delivering products in the _____ channel are much higher than delivering products in the _____ channel.
    A.   physical, digital B.   e-commerce, digital
    C.   physical, financial D.   digital, e-commerce
    E.   digital, physical
    54) When customers access a Web site and make purchases, they generate __________.
    A.   Tracking cookies B.   Web data C.   Information D.   Clickstream data
    E.   Hyperlink data
    55) _____ is the integration of economic, social, cultural, and ecological facets of life, enabled by information.
    A.   regionalization B.   globalization C.   nationalization D.   business environment
               
    56) Various organizations that promote fair and responsible use of information systems often develop __________.
    A.   a code of ethics B.   responsibility charters
    C.   a strategic plan D.   a mission statement E.   a goals outline
    57) What is _____ is not necessarily _____.
    A.   Illegal, unethical B.   Unethical, legal C.   Ethical, illegal D.   Unethical, illegal
    E.   Ethical, legal
    58) _____ provides users with a view of what is happening, where _____ addresses why it is happening.
    A.   Multidimensional data analysis, structured query language
    B.   Multidimensional data analysis, neural networks C.   Data mining, multidimensional data analysis D.   Data mining, expert system E.   Multidimensional data analysis, data mining
    59) Computer support is greatest for which of the following problems?
    A.   Semistructured and strategic planning B.   Semistructured and management control
    C.   Unstructured and operational control D.   Structured and operational control E.   Structured and management control
    60) The management cockpit best exemplifies which type of system?
    A.   Decision support system B.   Functional area information system
    C.   Expert system D.   Digital dashboard E.   Group decision support system
    61) _____ is the efficient and effective execution of specific tasks.
    A.   Operational control
    B.   Expertise C.   Management control
    D.   Strategic planning E.   Wisdom
    62) Geocoding is __________.
    A.   accessing geographical information B.   integrating maps with spatially oriented databases and other databases
    C.   integrating organizational transactions with spatially oriented databases D.   programming spatially oriented databases E.   encrypting spatial information
    63) At 8% compounded annually, how long will it take $750 to double?
    A.   48 months
    B.   6.5 years C.   9 years D.   12 years
    64) Which of the following represents an attempt to measure the earnings of the firm’s operations over a given time period?
    A.   Cash flow statement
    B.   Balance sheet C.   Income statement D.   Quarterly statement
               
    65) A machine costs $1,000, has a three-year life, and has an estimated salvage value of $100. It will generate after-tax annual cash flows (ACF) of $600 a year, starting next year. If your required rate of return for the project is 10%, what is the NPV of this investment? (Round your answerwer to the nearest $10.)
    A.   $570 B.   $490 C.   $900 D.   -$150
               
    66) Disadvantages of using current liabilities as opposed to long-term debt include:
    A.   higher cash flow exposure B.   greater risk of illiquidity, and uncertainty of interest costs
    C.   decreased risk of liquidity D.   certainty of interest costs E.   uncertainty of future liabilities
    67) Petrified Forest Skin Care, Inc. pays an annual perpetual dividend of $1.70 per share. If the stock is currently selling for $21.25 per share, what is the expected rate of return on this stock?
    A.   12.5% B.   36.13%
    C.   8.0% D.   13.6%
    68) Which of the following is most consistent with the hedging principle in working capital management?
    A.   Fixed assets should be financed with short-term notes payable. B.   Inventory should be financed with preferred stock. C.   Accounts receivable should be financed with short-term lines of credit.
    D.   Borrow on a floating rate basis to finance investments in permanent assets.
               
    69) An increase in future value can be caused by an increase in the __________.
    A.   original amount invested B.   annual interest rate and number of compounding periods
    C.   rate of return D.   dividends paid E.   starting value
    70) If the quote for a forward exchange contract is greater than the computed price, the forward contract is:
    A.   at equilibrium.
    B.   undervalued. C.   a good buy. D.   overvalued.
    71) Your company is considering an investment in a project which would require an initial outlay of $300,000 and produce expected cash flows in Years 1 through 5 of $87,385 per year. You have determined that the current after-tax cost of the firm’s capital (required rate of return) for each source of financing is as follows:
    Cost of debt     8%
    Cost of preferred stock           12%
    Cost of common stock            16%
    Long-term debt currently makes up 20% of the capital structure, preferred stock 10%, and common stock 70%. What is the net present value of this project?
    A.   $1,568
    B.   $871 C.   $1,241
    D.   $463
    72) Suppose you determine that the NPV of a project is $1,525,855. What does that mean?
    A.   The project’s IRR would have to be less that the firm’s discount rate. B.   The project would add value to the firm. C.   Under all conditions, the project’s payback would be less than the profitability index.
    D.   In all cases, investing in this project would be better than investing in a project that has an NPV of $850,000.
               
    73) The common stockholders are most concerned with:
    A.   the spread between the return generated on new investments and the investor’s required rate of return.
    B.   the size of the firm’s beginning earnings per share. C.   the risk of the investment. D.   the percentage of profits retained.
    74) PepsiCo calculates unlevered betas for each peer group in order to:
    A.   eliminate different financial risks.
    B.   eliminate competitive factors. C.   eliminate judgment factors. D.   eliminate different business risks.
    75) Which of the following best represents operating income?
    A.   Income from discontinued operations
    B.   Earnings before interest and taxes C.   Income from capital gains D.   Income after financing activities
    76) In comparison to the buying of final consumers, the purchasing of organizational buyers:
    A.   is even less predictable. B.   leans basically toward economy, quality, and dependability.
    C.   is always emotional. D.   is strictly economic and not at all emotional. E.   is always based on competitive bids from multiple suppliers.
               
    77) The basic objective of the U.S. market-directed economic system is to:
    A.   achieve an annual growth rate of at least 10 percent. B.   provide each person with an equal share of the economic output.
    C.   make the most efficient use of the country's resources. D.   minimize inflation. E.   satisfy consumer needs as they--the consumers--see them.
    78) Comparing GDP for foreign countries can help a marketing manager evaluate potential markets if the manager remembers that:
    A.   GDP measures show people's tendency to buy particular products. B.   income tends to be evenly distributed among consumers in most countries. C.   GDP estimates may not be very accurate for very different cultures and economies.
    D.   Other countries most likely don’t use the US Dollar as their primary currency.
    E.   GDP measures show the degree of competition in a market.
    79) A firm's "marketing mix" decision areas would NOT include:
    A.   Promotion.
    B.   People. C.   Price. D.   Place. E.   Product.
    80) __________ is a marketing management aid which refers to how customers think about proposed and/or present brands in a market.
    A.   Brand familiarity B.   Positioning
    C.   Market scanning D.   Customer relationship management (CRM)
    E.   Market segmentation
    81) The "four Ps" of a marketing mix are:
    A.   Production, Personnel, Price, and Physical Distribution
    B.   Promotion, Production, Price, and People C.   Potential customers, Product, Price, and Personal Selling
    D.   Product, Price, Promotion, and Profit E.   Product, Place, Promotion, and Price
    82) When evaluating macro-marketing:
    A.   the evaluation is necessarily subjective. B.   the best approach is to consider the profit generated by individual firms within the overall system.
    C.   one must determine how efficiently the society's resources are used. D.   one must consider the society’s role in the marketing system. E.   one must consider each individual firm's role in the marketing system.
    83) A cluster analysis of the "toothpaste market" would probably show that:
    A.   the broad product-market can be served effectively with one marketing mix.
    B.   most consu
              59) Computer support is greatest for which of the following problems? A. Semistructured and strategic planning B. Semistructured and management control C. Unstructured and operational control D. Structured and operational control E. Structured and management control        

    BUS/475 Guide 4


    1) The cost principle requires that when assets are acquired, they be recorded at __________.
    A.   list price B.   selling price C.   exchange price paid D.   appraisal value
    2) "Generally accepted" in the phrase generally accepted accounting principles means that the principles __________.
    A.   have been approved for use by the managements of business firms
    B.   have been approved by the Internal Revenue Service C.   have substantial authoritative support D.   are proven theories of accounting
    3) The standards and rules that are recognized as a general guide for financial reporting are called __________.
    A.   standards of financial reporting B.   operating guidelines C.   generally accepted accounting principles D.   generally accepted accounting standards
    4) Sam's Used Cars uses the specific identification method of costing inventory. During March, Sam purchased three cars for $6,000, $7,500, and $9,750, respectively. During March, two cars are sold for $9,000 each. Sam determines that at March 31, the $9,750 car is still on hand. What is Sam’s gross profit for March?
    A.   $8,250
    B.   $750 C.   $4,500
    D.   $5,250
               
    5) Hess, Inc. sells a single product with a contribution margin of $12 per unit and fixed costs of $74,400 and sales for the current year of $100,000. How much is Hess’s break even point?
    A.   2,133 units
    B.   6,200 units
    C.   $25,600 D.   4,600 units
               
    6) As Plant Controller, you are trying to determine which costs over which you have the most control on a day to day basis. Your goal is to achieve better profitability. The Plant Operations Manager suggests that overhead is the easiest area to directly reduce costs. Which of the following items would be classified as manufacturing overhead?
    A.   The western division’s vice president’s salary
    B.   Cost of landscaping the corporate office C.   General corporate liability insurance D.   Factory janitor
    7) What is the preparation of reports for each level of responsibility in the company’s organization chart called?
    A.   Master budgeting analysis
    B.   Exception reporting C.   Responsibility reporting
    D.   Static reporting
    8) Disney’s variable costs are 30% of sales. The company is contemplating an advertising campaign that will cost $22,000. If sales are expected to increase $40,000, by how much will the company's net income increase?
    A.   $6,000 B.   $12,000
    C.   $28,000
    D.   $18,000
               
    9) The cost of an asset and its fair market value are __________.
    A.   never the same B.   irrelevant when the asset is used by the business in its operations
    C.   the same on the date of acquisition D.   the same when the asset is sold
    10) Which one of the following is a product cost?
    A.   Indirect labor B.   Sales person’s salaries
    C.   Advertising costs D.   Office salaries
    11) What exists when budgeted costs exceed actual results?
    A.   A budgeting error B.   An unfavorable difference
    C.   An excess profit D.   A favorable difference
    12) The income statement and balance sheet columns of Pine Company's worksheet reflects the following totals:
                            Income Statement                  Balance Sheet
                Dr.       Cr.                   Dr.       Cr.
    Totals              $58,000           $48,000                       $34,000           $44,000
               

    Closing entries are necessary for __________.
    A.   permanent accounts only B.   both permanent and temporary accounts
    C.   permanent or real accounts only D.   temporary accounts only
    13) Managerial accounting __________.
    A.   is concerned with costing products B.   pertains to the entity as a whole and is highly aggregated
    C.   places emphasis on special-purpose information D.   is governed by generally accepted accounting principles
               
    14) H55 Company sells two products, beer and wine. Beer has a 10 percent profit margin and wine has a 12 percent profit margin. Beer has a 27 percent contribution margin and wine has a 25 percent contribution margin. If other factors are equal, which product should H55 push to customers?
    A.   Beer B.   Selling either results in the same additional income for the company
    C.   It should sell an equal quantity of both D.   Wine
    15) Lekeisha's income exceeds her expenditures. Lekeisha is a __________.
    A.   saver who demands money from the financial system B.   borrower who demands money from the financial system
    C.   borrower who supplies money to the financial system D.   saver who supplies money to the financial system
    16) Maurice receives $100 as a birthday gift. In deciding how to spend the money, he narrows his options down to four choices: Option A, Option B, Option C, and Option D. Each option costs $100. Finally he decides on Option B. The opportunity cost of this decision is __________.
    A.   the value to Maurice of the option he would have chosen had Option B not been available
    B.   $100 C.   $300 D.   the value to Maurice of Options A, C and D combined
    17) A production possibilities frontier will be a straight line if __________.
    A.   the economy is producing efficiently B.   the economy is engaged in trade with at least one other economy C.   increasing the production of one good by x units entails no opportunity cost in terms of the other good
    D.   increasing the production of one good by x units entails a constant opportunity cost in terms of the other good
               
    18) In economics, the cost of something is __________.
    A.   what you give up to get it B.   often impossible to quantify, even in principle C.   the dollar amount of obtaining it D.   always measured in units of time given up to get it
               
    19) A tax on an imported good is called a __________.
    A.   supply tax
    B.   trade tax C.   quota D.   tariff
    20) Which of the following statements about GDP is correct?
    A.   GDP is to a nation’s economy as household income is to a household. B.   GDP increases if the total population increases. C.   GDP measures two things at once: the total income of everyone in the economy and the unemployment rate.
    D.   Money continuously flows from households to government and then back to households, and GDP measures this flow of money.
               
    21) In computing GDP, market prices are used to value final goods and services because __________.
    A.   if market prices are out of line with how people value goods, the government sets price ceilings and price floors
    B.   Market prices are not used in computing GDP C.   market prices reflect the values of goods and services D.   market prices do not change much over time, so it is easy to make comparisons between years

    22) Which of the following statements about GDP is correct?
    A.   Nominal GDP values production at market prices, whereas real GDP values production at the cost of the resources used in the production process.
    B.   Nominal GDP consistently underestimates the value of production, whereas real GDP consistently overestimates the value of production.
    C.   Nominal GDP values production at current prices, whereas real GDP values production at constant prices.
    D.   Nominal GDP values production at constant prices, whereas real GDP values production at current prices.
               
    23) Which of the following is not correct?
    A.   The U.S. debt per-person is large compared with average lifetime income.
    B.   In 2005, the U.S. government had a deficit. C.   A potential cost of deficits is that they reduce national saving, thereby reducing growth of the capital stock and output growth.
    D.   Deficits give people the opportunity to consume at the expense of their children, but they do not require them to do so.
               
    24) The part of the balance of payments account that lists all long-term flows of payments is called the:
    A.   balance of trade. B.   financial and capital account.
    C.   government financial account.
    D.   current account.
    25) Edward Prescott and Finn Kydland won the Nobel Prize in Economics in 2004. One of their contributions was to argue that if a central bank could convince people to expect zero inflation, then the Fed would be tempted to raise output by increasing inflation. This possibility is known as __________.
    A.   the sacrifice ratio dilemma B.   the monetary policy reaction lag
    C.   the time inconsistency of policy
    D.   inflation targeting
    26) In general, the longest lag for __________.
    A.   fiscal policy is the time it takes to change policy, while for monetary policy the longest lag is the time it takes for policy to affect aggregate demand
    B.   both fiscal and monetary policy is the time it takes for policy to affect aggregate demand
    C.   monetary policy is the time it takes to change policy, while for fiscal policy the longest lag is the time it takes for policy to affect aggregate demand
    D.   both fiscal and monetary policy is the time it takes to change policy
    27) Consider two items that might be included in GDP: (1) The estimated rental value of owner-occupied housing; and (2) purchases of newly-constructed homes. How are these two items accounted for when GDP is calculated?
    A.   Only item (2) is included in GDP and it is included in the investment component.
    B.   Item (1) is included in the consumption component, while item (2) is included in the investment component.
    C.   Item (1) is included in the investment component, while item (2) is included in the consumption component.
    D.   Both item (1) and item (2) are included in the consumption component of GDP.

    28) Managers will utilize __________ skills with increasing frequency as they rise within an organization.
    A.   Professional B.   Interpersonal and communication
    C.   Technical D.   Professional E.   Conceptual and decision
    29) Which of these represent skills that managers need?
    A.   Interpersonal, quantitative, and professional B.   Technical, interpersonal & communication and conceptual & decision making
    C.   Professional, technical and interpersonal & communication D.   Conceptual & decision making, professional and technical E.   Interpersonal & communication, conceptual & decision making and professional
               
    30) Building a dynamic organization is another way of describing which function of management?
    A.   Staffing B.   Organizing
    C.   Leading D.   Controlling
    E.   Planning
    31) Your roommate is interested in starting a business and everybody has been giving him different information about being an entrepreneur. Since you have been studying about entrepreneurship and new ventures, which of these would you tell him is true?
    A.   Anyone can start a business B.   All entrepreneurs need venture capital in order to get started C.   Successful entrepreneurs take very careful, calculated risks D.   Entrepreneurs are their own bosses and completely independent
    E.   Money should not be considered a start-up ingredient
    32) The term used to refer to all kinds of differences including religious affiliation, age, disability status, economic class and lifestyle in addition to gender, race, ethnicity and nationality is:
    A.   Diversity B.   Managerial ethics
    C.   Recruiting D.   Employment E.   Selection
    33) A manager's ability to stimulate people to be high performers is referred to as:
    A.   Planning B.   Supervising
    C.   Controlling
    D.   Organizing E.   Leading
    34) A series of quality standards developed by a committee working under the International Organization for Standardization to improve total quality in all businesses for the benefit of both producers and consumers is:
    A.   Total quality management B.   Customer-based integration C.   Computer-integrated manufacturing (CIM)
    D.   Just-in-time control (JIT)
    E.   ISO 9000
    35) Japanese manufacturers' kaizen (continuous improvement) programs enable them to maintain:
    A.   A strategic alliance B.   A homogeneous workforce C.   Positive working relationships with all employees
    D.   A Learning advantage over their competition E.   Larger, faster facilities
    36) Listening to employee suggestions, gaining support for organizational objectives and fostering an atmosphere of teamwork are all considered:
    A.   Technical skills B.   Conceptual C.   Professional skills D.   Interpersonal/communication skills
    E.   Diagnostic skills
    37) The basic components of an effective sexual harassment policy include the following EXCEPT:
    A.   To develop an organization wide policy on sexual harassment B.   To establish a means for ongoing training C.   To act immediately when employees complain of sexual harassment
    D.   To establish a performance appraisal system E.   To establish a formal complaint procedure
    38) Teams that operate separately from the regular work structure and exist temporarily are known as:
    A.   Management teams B.   Transnational teams
    C.   Self-managed teams
    D.   Parallel teams E.   Self-designing teams
               
    39) The Aquatic Center, Inc. periodically reviews the goals of the company. During the process, The Aquatic Center managers analyze their current strategies as compared to their competitors, determine goals that they will pursue and decide upon specific actions for each area of the company to take in pursuit of these goals. The Aquatic Center managers have been engaged in the management function of:
    A.   Goal Coordination
    B.   Controlling C.   Organizing D.   Staffing E.   Planning
    40) As related to managing of human resources, diversity refers to:
    A.   Differences in demographics (such as age, race, gender, disability status, lifestyle, veteran status, educational level, etc.)
    B.   Differences in pay methods (such as hourly, salaried, overtime, hazard-pay, commissioned, etc.)
    C.   Differences in employee benefit plans (such as pensions, insurance, vacations, memberships, etc.)
    D.   Differences in retention strategies (such as training, hiring, incentives, etc) E.   Differences in recruiting methods (such as newspapers, schools, flyers, magazines, agencies, etc.)
               
    41) __________ is the process of working with people and resources to accomplish organizational goals.
    A.   Controlling B.   Decision making
    C.   Planning D.   Supervising E.   Management
    42) Twelve randomly-chosen students were asked how many times they had missed class during a certain semester, with this result: 2, 1, 5, 1, 1, 3, 4, 3, 1, 1, 5, 18.
    For this sample, the median is _____.
    A.   3 B.   3.5
    C.   2.5
    D.   2
    43) Use the following table to answer question:
     P(S | W) is approximately _____.
    A.   .40
    B.   .30
    C.   .12
    D.   .58
               
    44) Use the following table to answer question:
     P(M  A) is approximately _____.
    A.   .50 B.   .625
    C.   .125
    D.   .25
    45) Dullco Manufacturing claims that its alkaline batteries last forty hours on average in a certain type of portable CD player. Tests on a random sample of 18 batteries showed a mean battery life of 37.8 hours with a standard deviation of 5.4 hours.
    In determining the p-value for reporting the study's findings, which of the following is true?
    A.   The p-value is equal to .05. B.   The p-value is greater than .05. C.   The p-value cannot be determined without specifying  . D.   The p-value is less than .05.
    46) William used a sample of 68 U.S. cities to estimate the relationship between Crime (annual property crimes per 100,000 persons) and Income (median income per capita). His estimated regression equation was Crime = 428 + .050 Income.
    Which outcomes would be likely in a bivariate regression on 45 randomly chosen U.S. cities in 2005 with
    Y = number of robberies in each city (thousands of robberies) and
    X = size of police force in each city (thousands of police)?
    A.   High R2 (due to city size). B.   Positive slope (due to city size).
    C.   No correlation. D.   Autocorrelation.
    47) Twelve randomly-chosen students were asked how many times they had missed class during a certain semester, with this result: 2, 1, 5, 1, 1, 3, 4, 3, 1, 1, 5, 18.
    For this sample, which measure of central tendency is least representative of the “typical” student?
    A.   Midrange
    B.   Mean C.   Mode D.   Median
               
    48) Likely reasons for inaccurate control limits would include which of the following?
    A.   Process variation was not zero, as expected. B.   The engineering parameter for variance is unknown.
    C.   There was insufficient preliminary sampling. D.   The engineers were underpaid for their work.
    49) You are faced with a linear programming objective function of:
    Max P = $20X + $30Y
    and constraints of:
    3X + 4Y = 24 (Constraint A)
    5X – Y = 18 (Constraint B)
    You discover that the shadow price for Constraint A is 7.5 and the shadow price for Constraint B is 0. Which of these statements is TRUE?
    A.   The most you would want to pay for an additional unit of A would be $7.50.
    B.   You can change quantities of X and Y at no cost for Constraint B. C.   For every additional unit of the objective function you create, the price of A rises by $7.50.
    D.   For every additional unit of the objective function you create, you lose 0 units of B.
               
    50) A project has three paths. A–B–C has a length of 25 days. A–D–C has a length of 15 days. Finally, A–E–C has a length of 20 days. Which one of the following statements is TRUE?
    A.   The expected duration of this project is 25 + 15 + 20 = 60 days.
    B.   A–D–C is the critical path. C.   The expected duration of this project is 25 days. D.   A–B–C has the most slack.
    51) Which one of the following statements concerning production and staffing plans is best?
    A.   A master production schedule is a projected statement of income, costs, and profits.
    B.   Aggregation can be performed along three dimensions: product families, labor, and time.
    C.   Production plans are based primarily on information from the master production plan.
    D.   A staffing plan is the intermediate link between the business plan and the master production schedule.
               
    52) While glancing over the sensitivity report, you note that the stitching labor has a shadow price of $10 and a lower limit of 24 hours with an upper limit of 36 hours. If your original right hand value for stitching labor was 30 hours, you know that:
    A.   you would lose $80 if one of your workers missed an entire 8 hour shift. B.   the next worker that offers to work an extra 8 hours should receive at least $80.
    C.   you would be willing pay up to $60 for someone to work another 6 hours.
    D.   you can send someone home 6 hours early and still pay them the $60 they would have earned while on the clock.

    53) The costs of delivering products in the _____ channel are much higher than delivering products in the _____ channel.
    A.   physical, digital B.   e-commerce, digital
    C.   physical, financial D.   digital, e-commerce
    E.   digital, physical
    54) When customers access a Web site and make purchases, they generate __________.
    A.   Tracking cookies B.   Web data C.   Information D.   Clickstream data
    E.   Hyperlink data
    55) _____ is the integration of economic, social, cultural, and ecological facets of life, enabled by information.
    A.   regionalization B.   globalization C.   nationalization D.   business environment
               
    56) Various organizations that promote fair and responsible use of information systems often develop __________.
    A.   a code of ethics B.   responsibility charters
    C.   a strategic plan D.   a mission statement E.   a goals outline
    57) What is _____ is not necessarily _____.
    A.   Illegal, unethical B.   Unethical, legal C.   Ethical, illegal D.   Unethical, illegal
    E.   Ethical, legal
    58) _____ provides users with a view of what is happening, where _____ addresses why it is happening.
    A.   Multidimensional data analysis, structured query language
    B.   Multidimensional data analysis, neural networks C.   Data mining, multidimensional data analysis D.   Data mining, expert system E.   Multidimensional data analysis, data mining
    59) Computer support is greatest for which of the following problems?
    A.   Semistructured and strategic planning B.   Semistructured and management control
    C.   Unstructured and operational control D.   Structured and operational control E.   Structured and management control
    60) The management cockpit best exemplifies which type of system?
    A.   Decision support system B.   Functional area information system
    C.   Expert system D.   Digital dashboard E.   Group decision support system
    61) _____ is the efficient and effective execution of specific tasks.
    A.   Operational control
    B.   Expertise C.   Management control
    D.   Strategic planning E.   Wisdom
    62) Geocoding is __________.
    A.   accessing geographical information B.   integrating maps with spatially oriented databases and other databases
    C.   integrating organizational transactions with spatially oriented databases D.   programming spatially oriented databases E.   encrypting spatial information
    63) At 8% compounded annually, how long will it take $750 to double?
    A.   48 months
    B.   6.5 years C.   9 years D.   12 years
    64) Which of the following represents an attempt to measure the earnings of the firm’s operations over a given time period?
    A.   Cash flow statement
    B.   Balance sheet C.   Income statement D.   Quarterly statement
               
    65) A machine costs $1,000, has a three-year life, and has an estimated salvage value of $100. It will generate after-tax annual cash flows (ACF) of $600 a year, starting next year. If your required rate of return for the project is 10%, what is the NPV of this investment? (Round your answerwer to the nearest $10.)
    A.   $570 B.   $490 C.   $900 D.   -$150
               
    66) Disadvantages of using current liabilities as opposed to long-term debt include:
    A.   higher cash flow exposure B.   greater risk of illiquidity, and uncertainty of interest costs
    C.   decreased risk of liquidity D.   certainty of interest costs E.   uncertainty of future liabilities
    67) Petrified Forest Skin Care, Inc. pays an annual perpetual dividend of $1.70 per share. If the stock is currently selling for $21.25 per share, what is the expected rate of return on this stock?
    A.   12.5% B.   36.13%
    C.   8.0% D.   13.6%
    68) Which of the following is most consistent with the hedging principle in working capital management?
    A.   Fixed assets should be financed with short-term notes payable. B.   Inventory should be financed with preferred stock. C.   Accounts receivable should be financed with short-term lines of credit.
    D.   Borrow on a floating rate basis to finance investments in permanent assets.
               
    69) An increase in future value can be caused by an increase in the __________.
    A.   original amount invested B.   annual interest rate and number of compounding periods
    C.   rate of return D.   dividends paid E.   starting value
    70) If the quote for a forward exchange contract is greater than the computed price, the forward contract is:
    A.   at equilibrium.
    B.   undervalued. C.   a good buy. D.   overvalued.
    71) Your company is considering an investment in a project which would require an initial outlay of $300,000 and produce expected cash flows in Years 1 through 5 of $87,385 per year. You have determined that the current after-tax cost of the firm’s capital (required rate of return) for each source of financing is as follows:
    Cost of debt     8%
    Cost of preferred stock           12%
    Cost of common stock            16%
    Long-term debt currently makes up 20% of the capital structure, preferred stock 10%, and common stock 70%. What is the net present value of this project?
    A.   $1,568
    B.   $871 C.   $1,241
    D.   $463
    72) Suppose you determine that the NPV of a project is $1,525,855. What does that mean?
    A.   The project’s IRR would have to be less that the firm’s discount rate. B.   The project would add value to the firm. C.   Under all conditions, the project’s payback would be less than the profitability index.
    D.   In all cases, investing in this project would be better than investing in a project that has an NPV of $850,000.
               
    73) The common stockholders are most concerned with:
    A.   the spread between the return generated on new investments and the investor’s required rate of return.
    B.   the size of the firm’s beginning earnings per share. C.   the risk of the investment. D.   the percentage of profits retained.
    74) PepsiCo calculates unlevered betas for each peer group in order to:
    A.   eliminate different financial risks.
    B.   eliminate competitive factors. C.   eliminate judgment factors. D.   eliminate different business risks.
    75) Which of the following best represents operating income?
    A.   Income from discontinued operations
    B.   Earnings before interest and taxes C.   Income from capital gains D.   Income after financing activities
    76) In comparison to the buying of final consumers, the purchasing of organizational buyers:
    A.   is even less predictable. B.   leans basically toward economy, quality, and dependability.
    C.   is always emotional. D.   is strictly economic and not at all emotional. E.   is always based on competitive bids from multiple suppliers.
               
    77) The basic objective of the U.S. market-directed economic system is to:
    A.   achieve an annual growth rate of at least 10 percent. B.   provide each person with an equal share of the economic output.
    C.   make the most efficient use of the country's resources. D.   minimize inflation. E.   satisfy consumer needs as they--the consumers--see them.
    78) Comparing GDP for foreign countries can help a marketing manager evaluate potential markets if the manager remembers that:
    A.   GDP measures show people's tendency to buy particular products. B.   income tends to be evenly distributed among consumers in most countries. C.   GDP estimates may not be very accurate for very different cultures and economies.
    D.   Other countries most likely don’t use the US Dollar as their primary currency.
    E.   GDP measures show the degree of competition in a market.
    79) A firm's "marketing mix" decision areas would NOT include:
    A.   Promotion.
    B.   People. C.   Price. D.   Place. E.   Product.
    80) __________ is a marketing management aid which refers to how customers think about proposed and/or present brands in a market.
    A.   Brand familiarity B.   Positioning
    C.   Market scanning D.   Customer relationship management (CRM)
    E.   Market segmentation
    81) The "four Ps" of a marketing mix are:
    A.   Production, Personnel, Price, and Physical Distribution
    B.   Promotion, Production, Price, and People C.   Potential customers, Product, Price, and Personal Selling
    D.   Product, Price, Promotion, and Profit E.   Product, Place, Promotion, and Price
    82) When evaluating macro-marketing:
    A.   the evaluation is necessarily subjective. B.   the best approach is to consider the profit generated by individual firms within the overall system.
    C.   one must determine how efficiently the society's resources are used. D.   one must consider the society’s role in the marketing system. E.   one must consider each individual firm's role in the marketing system.
    83) A cluster analysis of the "toothpaste market" would probably show that:
    A.   the broad product-market can be served effectively with one marketing mix.
    B.   most consu
              60) The management cockpit best exemplifies which type of system? A. Decision support system B. Functional area information system C. Expert system D. Digital dashboard E. Group decision support system        

    BUS/475 Guide 4


    1) The cost principle requires that when assets are acquired, they be recorded at __________.
    A.   list price B.   selling price C.   exchange price paid D.   appraisal value
    2) "Generally accepted" in the phrase generally accepted accounting principles means that the principles __________.
    A.   have been approved for use by the managements of business firms
    B.   have been approved by the Internal Revenue Service C.   have substantial authoritative support D.   are proven theories of accounting
    3) The standards and rules that are recognized as a general guide for financial reporting are called __________.
    A.   standards of financial reporting B.   operating guidelines C.   generally accepted accounting principles D.   generally accepted accounting standards
    4) Sam's Used Cars uses the specific identification method of costing inventory. During March, Sam purchased three cars for $6,000, $7,500, and $9,750, respectively. During March, two cars are sold for $9,000 each. Sam determines that at March 31, the $9,750 car is still on hand. What is Sam’s gross profit for March?
    A.   $8,250
    B.   $750 C.   $4,500
    D.   $5,250
               
    5) Hess, Inc. sells a single product with a contribution margin of $12 per unit and fixed costs of $74,400 and sales for the current year of $100,000. How much is Hess’s break even point?
    A.   2,133 units
    B.   6,200 units
    C.   $25,600 D.   4,600 units
               
    6) As Plant Controller, you are trying to determine which costs over which you have the most control on a day to day basis. Your goal is to achieve better profitability. The Plant Operations Manager suggests that overhead is the easiest area to directly reduce costs. Which of the following items would be classified as manufacturing overhead?
    A.   The western division’s vice president’s salary
    B.   Cost of landscaping the corporate office C.   General corporate liability insurance D.   Factory janitor
    7) What is the preparation of reports for each level of responsibility in the company’s organization chart called?
    A.   Master budgeting analysis
    B.   Exception reporting C.   Responsibility reporting
    D.   Static reporting
    8) Disney’s variable costs are 30% of sales. The company is contemplating an advertising campaign that will cost $22,000. If sales are expected to increase $40,000, by how much will the company's net income increase?
    A.   $6,000 B.   $12,000
    C.   $28,000
    D.   $18,000
               
    9) The cost of an asset and its fair market value are __________.
    A.   never the same B.   irrelevant when the asset is used by the business in its operations
    C.   the same on the date of acquisition D.   the same when the asset is sold
    10) Which one of the following is a product cost?
    A.   Indirect labor B.   Sales person’s salaries
    C.   Advertising costs D.   Office salaries
    11) What exists when budgeted costs exceed actual results?
    A.   A budgeting error B.   An unfavorable difference
    C.   An excess profit D.   A favorable difference
    12) The income statement and balance sheet columns of Pine Company's worksheet reflects the following totals:
                            Income Statement                  Balance Sheet
                Dr.       Cr.                   Dr.       Cr.
    Totals              $58,000           $48,000                       $34,000           $44,000
               

    Closing entries are necessary for __________.
    A.   permanent accounts only B.   both permanent and temporary accounts
    C.   permanent or real accounts only D.   temporary accounts only
    13) Managerial accounting __________.
    A.   is concerned with costing products B.   pertains to the entity as a whole and is highly aggregated
    C.   places emphasis on special-purpose information D.   is governed by generally accepted accounting principles
               
    14) H55 Company sells two products, beer and wine. Beer has a 10 percent profit margin and wine has a 12 percent profit margin. Beer has a 27 percent contribution margin and wine has a 25 percent contribution margin. If other factors are equal, which product should H55 push to customers?
    A.   Beer B.   Selling either results in the same additional income for the company
    C.   It should sell an equal quantity of both D.   Wine
    15) Lekeisha's income exceeds her expenditures. Lekeisha is a __________.
    A.   saver who demands money from the financial system B.   borrower who demands money from the financial system
    C.   borrower who supplies money to the financial system D.   saver who supplies money to the financial system
    16) Maurice receives $100 as a birthday gift. In deciding how to spend the money, he narrows his options down to four choices: Option A, Option B, Option C, and Option D. Each option costs $100. Finally he decides on Option B. The opportunity cost of this decision is __________.
    A.   the value to Maurice of the option he would have chosen had Option B not been available
    B.   $100 C.   $300 D.   the value to Maurice of Options A, C and D combined
    17) A production possibilities frontier will be a straight line if __________.
    A.   the economy is producing efficiently B.   the economy is engaged in trade with at least one other economy C.   increasing the production of one good by x units entails no opportunity cost in terms of the other good
    D.   increasing the production of one good by x units entails a constant opportunity cost in terms of the other good
               
    18) In economics, the cost of something is __________.
    A.   what you give up to get it B.   often impossible to quantify, even in principle C.   the dollar amount of obtaining it D.   always measured in units of time given up to get it
               
    19) A tax on an imported good is called a __________.
    A.   supply tax
    B.   trade tax C.   quota D.   tariff
    20) Which of the following statements about GDP is correct?
    A.   GDP is to a nation’s economy as household income is to a household. B.   GDP increases if the total population increases. C.   GDP measures two things at once: the total income of everyone in the economy and the unemployment rate.
    D.   Money continuously flows from households to government and then back to households, and GDP measures this flow of money.
               
    21) In computing GDP, market prices are used to value final goods and services because __________.
    A.   if market prices are out of line with how people value goods, the government sets price ceilings and price floors
    B.   Market prices are not used in computing GDP C.   market prices reflect the values of goods and services D.   market prices do not change much over time, so it is easy to make comparisons between years

    22) Which of the following statements about GDP is correct?
    A.   Nominal GDP values production at market prices, whereas real GDP values production at the cost of the resources used in the production process.
    B.   Nominal GDP consistently underestimates the value of production, whereas real GDP consistently overestimates the value of production.
    C.   Nominal GDP values production at current prices, whereas real GDP values production at constant prices.
    D.   Nominal GDP values production at constant prices, whereas real GDP values production at current prices.
               
    23) Which of the following is not correct?
    A.   The U.S. debt per-person is large compared with average lifetime income.
    B.   In 2005, the U.S. government had a deficit. C.   A potential cost of deficits is that they reduce national saving, thereby reducing growth of the capital stock and output growth.
    D.   Deficits give people the opportunity to consume at the expense of their children, but they do not require them to do so.
               
    24) The part of the balance of payments account that lists all long-term flows of payments is called the:
    A.   balance of trade. B.   financial and capital account.
    C.   government financial account.
    D.   current account.
    25) Edward Prescott and Finn Kydland won the Nobel Prize in Economics in 2004. One of their contributions was to argue that if a central bank could convince people to expect zero inflation, then the Fed would be tempted to raise output by increasing inflation. This possibility is known as __________.
    A.   the sacrifice ratio dilemma B.   the monetary policy reaction lag
    C.   the time inconsistency of policy
    D.   inflation targeting
    26) In general, the longest lag for __________.
    A.   fiscal policy is the time it takes to change policy, while for monetary policy the longest lag is the time it takes for policy to affect aggregate demand
    B.   both fiscal and monetary policy is the time it takes for policy to affect aggregate demand
    C.   monetary policy is the time it takes to change policy, while for fiscal policy the longest lag is the time it takes for policy to affect aggregate demand
    D.   both fiscal and monetary policy is the time it takes to change policy
    27) Consider two items that might be included in GDP: (1) The estimated rental value of owner-occupied housing; and (2) purchases of newly-constructed homes. How are these two items accounted for when GDP is calculated?
    A.   Only item (2) is included in GDP and it is included in the investment component.
    B.   Item (1) is included in the consumption component, while item (2) is included in the investment component.
    C.   Item (1) is included in the investment component, while item (2) is included in the consumption component.
    D.   Both item (1) and item (2) are included in the consumption component of GDP.

    28) Managers will utilize __________ skills with increasing frequency as they rise within an organization.
    A.   Professional B.   Interpersonal and communication
    C.   Technical D.   Professional E.   Conceptual and decision
    29) Which of these represent skills that managers need?
    A.   Interpersonal, quantitative, and professional B.   Technical, interpersonal & communication and conceptual & decision making
    C.   Professional, technical and interpersonal & communication D.   Conceptual & decision making, professional and technical E.   Interpersonal & communication, conceptual & decision making and professional
               
    30) Building a dynamic organization is another way of describing which function of management?
    A.   Staffing B.   Organizing
    C.   Leading D.   Controlling
    E.   Planning
    31) Your roommate is interested in starting a business and everybody has been giving him different information about being an entrepreneur. Since you have been studying about entrepreneurship and new ventures, which of these would you tell him is true?
    A.   Anyone can start a business B.   All entrepreneurs need venture capital in order to get started C.   Successful entrepreneurs take very careful, calculated risks D.   Entrepreneurs are their own bosses and completely independent
    E.   Money should not be considered a start-up ingredient
    32) The term used to refer to all kinds of differences including religious affiliation, age, disability status, economic class and lifestyle in addition to gender, race, ethnicity and nationality is:
    A.   Diversity B.   Managerial ethics
    C.   Recruiting D.   Employment E.   Selection
    33) A manager's ability to stimulate people to be high performers is referred to as:
    A.   Planning B.   Supervising
    C.   Controlling
    D.   Organizing E.   Leading
    34) A series of quality standards developed by a committee working under the International Organization for Standardization to improve total quality in all businesses for the benefit of both producers and consumers is:
    A.   Total quality management B.   Customer-based integration C.   Computer-integrated manufacturing (CIM)
    D.   Just-in-time control (JIT)
    E.   ISO 9000
    35) Japanese manufacturers' kaizen (continuous improvement) programs enable them to maintain:
    A.   A strategic alliance B.   A homogeneous workforce C.   Positive working relationships with all employees
    D.   A Learning advantage over their competition E.   Larger, faster facilities
    36) Listening to employee suggestions, gaining support for organizational objectives and fostering an atmosphere of teamwork are all considered:
    A.   Technical skills B.   Conceptual C.   Professional skills D.   Interpersonal/communication skills
    E.   Diagnostic skills
    37) The basic components of an effective sexual harassment policy include the following EXCEPT:
    A.   To develop an organization wide policy on sexual harassment B.   To establish a means for ongoing training C.   To act immediately when employees complain of sexual harassment
    D.   To establish a performance appraisal system E.   To establish a formal complaint procedure
    38) Teams that operate separately from the regular work structure and exist temporarily are known as:
    A.   Management teams B.   Transnational teams
    C.   Self-managed teams
    D.   Parallel teams E.   Self-designing teams
               
    39) The Aquatic Center, Inc. periodically reviews the goals of the company. During the process, The Aquatic Center managers analyze their current strategies as compared to their competitors, determine goals that they will pursue and decide upon specific actions for each area of the company to take in pursuit of these goals. The Aquatic Center managers have been engaged in the management function of:
    A.   Goal Coordination
    B.   Controlling C.   Organizing D.   Staffing E.   Planning
    40) As related to managing of human resources, diversity refers to:
    A.   Differences in demographics (such as age, race, gender, disability status, lifestyle, veteran status, educational level, etc.)
    B.   Differences in pay methods (such as hourly, salaried, overtime, hazard-pay, commissioned, etc.)
    C.   Differences in employee benefit plans (such as pensions, insurance, vacations, memberships, etc.)
    D.   Differences in retention strategies (such as training, hiring, incentives, etc) E.   Differences in recruiting methods (such as newspapers, schools, flyers, magazines, agencies, etc.)
               
    41) __________ is the process of working with people and resources to accomplish organizational goals.
    A.   Controlling B.   Decision making
    C.   Planning D.   Supervising E.   Management
    42) Twelve randomly-chosen students were asked how many times they had missed class during a certain semester, with this result: 2, 1, 5, 1, 1, 3, 4, 3, 1, 1, 5, 18.
    For this sample, the median is _____.
    A.   3 B.   3.5
    C.   2.5
    D.   2
    43) Use the following table to answer question:
     P(S | W) is approximately _____.
    A.   .40
    B.   .30
    C.   .12
    D.   .58
               
    44) Use the following table to answer question:
     P(M  A) is approximately _____.
    A.   .50 B.   .625
    C.   .125
    D.   .25
    45) Dullco Manufacturing claims that its alkaline batteries last forty hours on average in a certain type of portable CD player. Tests on a random sample of 18 batteries showed a mean battery life of 37.8 hours with a standard deviation of 5.4 hours.
    In determining the p-value for reporting the study's findings, which of the following is true?
    A.   The p-value is equal to .05. B.   The p-value is greater than .05. C.   The p-value cannot be determined without specifying  . D.   The p-value is less than .05.
    46) William used a sample of 68 U.S. cities to estimate the relationship between Crime (annual property crimes per 100,000 persons) and Income (median income per capita). His estimated regression equation was Crime = 428 + .050 Income.
    Which outcomes would be likely in a bivariate regression on 45 randomly chosen U.S. cities in 2005 with
    Y = number of robberies in each city (thousands of robberies) and
    X = size of police force in each city (thousands of police)?
    A.   High R2 (due to city size). B.   Positive slope (due to city size).
    C.   No correlation. D.   Autocorrelation.
    47) Twelve randomly-chosen students were asked how many times they had missed class during a certain semester, with this result: 2, 1, 5, 1, 1, 3, 4, 3, 1, 1, 5, 18.
    For this sample, which measure of central tendency is least representative of the “typical” student?
    A.   Midrange
    B.   Mean C.   Mode D.   Median
               
    48) Likely reasons for inaccurate control limits would include which of the following?
    A.   Process variation was not zero, as expected. B.   The engineering parameter for variance is unknown.
    C.   There was insufficient preliminary sampling. D.   The engineers were underpaid for their work.
    49) You are faced with a linear programming objective function of:
    Max P = $20X + $30Y
    and constraints of:
    3X + 4Y = 24 (Constraint A)
    5X – Y = 18 (Constraint B)
    You discover that the shadow price for Constraint A is 7.5 and the shadow price for Constraint B is 0. Which of these statements is TRUE?
    A.   The most you would want to pay for an additional unit of A would be $7.50.
    B.   You can change quantities of X and Y at no cost for Constraint B. C.   For every additional unit of the objective function you create, the price of A rises by $7.50.
    D.   For every additional unit of the objective function you create, you lose 0 units of B.
               
    50) A project has three paths. A–B–C has a length of 25 days. A–D–C has a length of 15 days. Finally, A–E–C has a length of 20 days. Which one of the following statements is TRUE?
    A.   The expected duration of this project is 25 + 15 + 20 = 60 days.
    B.   A–D–C is the critical path. C.   The expected duration of this project is 25 days. D.   A–B–C has the most slack.
    51) Which one of the following statements concerning production and staffing plans is best?
    A.   A master production schedule is a projected statement of income, costs, and profits.
    B.   Aggregation can be performed along three dimensions: product families, labor, and time.
    C.   Production plans are based primarily on information from the master production plan.
    D.   A staffing plan is the intermediate link between the business plan and the master production schedule.
               
    52) While glancing over the sensitivity report, you note that the stitching labor has a shadow price of $10 and a lower limit of 24 hours with an upper limit of 36 hours. If your original right hand value for stitching labor was 30 hours, you know that:
    A.   you would lose $80 if one of your workers missed an entire 8 hour shift. B.   the next worker that offers to work an extra 8 hours should receive at least $80.
    C.   you would be willing pay up to $60 for someone to work another 6 hours.
    D.   you can send someone home 6 hours early and still pay them the $60 they would have earned while on the clock.

    53) The costs of delivering products in the _____ channel are much higher than delivering products in the _____ channel.
    A.   physical, digital B.   e-commerce, digital
    C.   physical, financial D.   digital, e-commerce
    E.   digital, physical
    54) When customers access a Web site and make purchases, they generate __________.
    A.   Tracking cookies B.   Web data C.   Information D.   Clickstream data
    E.   Hyperlink data
    55) _____ is the integration of economic, social, cultural, and ecological facets of life, enabled by information.
    A.   regionalization B.   globalization C.   nationalization D.   business environment
               
    56) Various organizations that promote fair and responsible use of information systems often develop __________.
    A.   a code of ethics B.   responsibility charters
    C.   a strategic plan D.   a mission statement E.   a goals outline
    57) What is _____ is not necessarily _____.
    A.   Illegal, unethical B.   Unethical, legal C.   Ethical, illegal D.   Unethical, illegal
    E.   Ethical, legal
    58) _____ provides users with a view of what is happening, where _____ addresses why it is happening.
    A.   Multidimensional data analysis, structured query language
    B.   Multidimensional data analysis, neural networks C.   Data mining, multidimensional data analysis D.   Data mining, expert system E.   Multidimensional data analysis, data mining
    59) Computer support is greatest for which of the following problems?
    A.   Semistructured and strategic planning B.   Semistructured and management control
    C.   Unstructured and operational control D.   Structured and operational control E.   Structured and management control
    60) The management cockpit best exemplifies which type of system?
    A.   Decision support system B.   Functional area information system
    C.   Expert system D.   Digital dashboard E.   Group decision support system
    61) _____ is the efficient and effective execution of specific tasks.
    A.   Operational control
    B.   Expertise C.   Management control
    D.   Strategic planning E.   Wisdom
    62) Geocoding is __________.
    A.   accessing geographical information B.   integrating maps with spatially oriented databases and other databases
    C.   integrating organizational transactions with spatially oriented databases D.   programming spatially oriented databases E.   encrypting spatial information
    63) At 8% compounded annually, how long will it take $750 to double?
    A.   48 months
    B.   6.5 years C.   9 years D.   12 years
    64) Which of the following represents an attempt to measure the earnings of the firm’s operations over a given time period?
    A.   Cash flow statement
    B.   Balance sheet C.   Income statement D.   Quarterly statement
               
    65) A machine costs $1,000, has a three-year life, and has an estimated salvage value of $100. It will generate after-tax annual cash flows (ACF) of $600 a year, starting next year. If your required rate of return for the project is 10%, what is the NPV of this investment? (Round your answerwer to the nearest $10.)
    A.   $570 B.   $490 C.   $900 D.   -$150
               
    66) Disadvantages of using current liabilities as opposed to long-term debt include:
    A.   higher cash flow exposure B.   greater risk of illiquidity, and uncertainty of interest costs
    C.   decreased risk of liquidity D.   certainty of interest costs E.   uncertainty of future liabilities
    67) Petrified Forest Skin Care, Inc. pays an annual perpetual dividend of $1.70 per share. If the stock is currently selling for $21.25 per share, what is the expected rate of return on this stock?
    A.   12.5% B.   36.13%
    C.   8.0% D.   13.6%
    68) Which of the following is most consistent with the hedging principle in working capital management?
    A.   Fixed assets should be financed with short-term notes payable. B.   Inventory should be financed with preferred stock. C.   Accounts receivable should be financed with short-term lines of credit.
    D.   Borrow on a floating rate basis to finance investments in permanent assets.
               
    69) An increase in future value can be caused by an increase in the __________.
    A.   original amount invested B.   annual interest rate and number of compounding periods
    C.   rate of return D.   dividends paid E.   starting value
    70) If the quote for a forward exchange contract is greater than the computed price, the forward contract is:
    A.   at equilibrium.
    B.   undervalued. C.   a good buy. D.   overvalued.
    71) Your company is considering an investment in a project which would require an initial outlay of $300,000 and produce expected cash flows in Years 1 through 5 of $87,385 per year. You have determined that the current after-tax cost of the firm’s capital (required rate of return) for each source of financing is as follows:
    Cost of debt     8%
    Cost of preferred stock           12%
    Cost of common stock            16%
    Long-term debt currently makes up 20% of the capital structure, preferred stock 10%, and common stock 70%. What is the net present value of this project?
    A.   $1,568
    B.   $871 C.   $1,241
    D.   $463
    72) Suppose you determine that the NPV of a project is $1,525,855. What does that mean?
    A.   The project’s IRR would have to be less that the firm’s discount rate. B.   The project would add value to the firm. C.   Under all conditions, the project’s payback would be less than the profitability index.
    D.   In all cases, investing in this project would be better than investing in a project that has an NPV of $850,000.
               
    73) The common stockholders are most concerned with:
    A.   the spread between the return generated on new investments and the investor’s required rate of return.
    B.   the size of the firm’s beginning earnings per share. C.   the risk of the investment. D.   the percentage of profits retained.
    74) PepsiCo calculates unlevered betas for each peer group in order to:
    A.   eliminate different financial risks.
    B.   eliminate competitive factors. C.   eliminate judgment factors. D.   eliminate different business risks.
    75) Which of the following best represents operating income?
    A.   Income from discontinued operations
    B.   Earnings before interest and taxes C.   Income from capital gains D.   Income after financing activities
    76) In comparison to the buying of final consumers, the purchasing of organizational buyers:
    A.   is even less predictable. B.   leans basically toward economy, quality, and dependability.
    C.   is always emotional. D.   is strictly economic and not at all emotional. E.   is always based on competitive bids from multiple suppliers.
               
    77) The basic objective of the U.S. market-directed economic system is to:
    A.   achieve an annual growth rate of at least 10 percent. B.   provide each person with an equal share of the economic output.
    C.   make the most efficient use of the country's resources. D.   minimize inflation. E.   satisfy consumer needs as they--the consumers--see them.
    78) Comparing GDP for foreign countries can help a marketing manager evaluate potential markets if the manager remembers that:
    A.   GDP measures show people's tendency to buy particular products. B.   income tends to be evenly distributed among consumers in most countries. C.   GDP estimates may not be very accurate for very different cultures and economies.
    D.   Other countries most likely don’t use the US Dollar as their primary currency.
    E.   GDP measures show the degree of competition in a market.
    79) A firm's "marketing mix" decision areas would NOT include:
    A.   Promotion.
    B.   People. C.   Price. D.   Place. E.   Product.
    80) __________ is a marketing management aid which refers to how customers think about proposed and/or present brands in a market.
    A.   Brand familiarity B.   Positioning
    C.   Market scanning D.   Customer relationship management (CRM)
    E.   Market segmentation
    81) The "four Ps" of a marketing mix are:
    A.   Production, Personnel, Price, and Physical Distribution
    B.   Promotion, Production, Price, and People C.   Potential customers, Product, Price, and Personal Selling
    D.   Product, Price, Promotion, and Profit E.   Product, Place, Promotion, and Price
    82) When evaluating macro-marketing:
    A.   the evaluation is necessarily subjective. B.   the best approach is to consider the profit generated by individual firms within the overall system.
    C.   one must determine how efficiently the society's resources are used. D.   one must consider the society’s role in the marketing system. E.   one must consider each individual firm's role in the marketing system.
    83) A cluster analysis of the "toothpaste market" would probably show that:
    A.   the broad product-market can be served effectively with one marketing mix.
    B.   most consu
              61) _____ is the efficient and effective execution of specific tasks. A. Operational control B. Expertise C. Management control D. Strategic planning E. Wisdom        

    BUS/475 Guide 4


    1) The cost principle requires that when assets are acquired, they be recorded at __________.
    A.   list price B.   selling price C.   exchange price paid D.   appraisal value
    2) "Generally accepted" in the phrase generally accepted accounting principles means that the principles __________.
    A.   have been approved for use by the managements of business firms
    B.   have been approved by the Internal Revenue Service C.   have substantial authoritative support D.   are proven theories of accounting
    3) The standards and rules that are recognized as a general guide for financial reporting are called __________.
    A.   standards of financial reporting B.   operating guidelines C.   generally accepted accounting principles D.   generally accepted accounting standards
    4) Sam's Used Cars uses the specific identification method of costing inventory. During March, Sam purchased three cars for $6,000, $7,500, and $9,750, respectively. During March, two cars are sold for $9,000 each. Sam determines that at March 31, the $9,750 car is still on hand. What is Sam’s gross profit for March?
    A.   $8,250
    B.   $750 C.   $4,500
    D.   $5,250
               
    5) Hess, Inc. sells a single product with a contribution margin of $12 per unit and fixed costs of $74,400 and sales for the current year of $100,000. How much is Hess’s break even point?
    A.   2,133 units
    B.   6,200 units
    C.   $25,600 D.   4,600 units
               
    6) As Plant Controller, you are trying to determine which costs over which you have the most control on a day to day basis. Your goal is to achieve better profitability. The Plant Operations Manager suggests that overhead is the easiest area to directly reduce costs. Which of the following items would be classified as manufacturing overhead?
    A.   The western division’s vice president’s salary
    B.   Cost of landscaping the corporate office C.   General corporate liability insurance D.   Factory janitor
    7) What is the preparation of reports for each level of responsibility in the company’s organization chart called?
    A.   Master budgeting analysis
    B.   Exception reporting C.   Responsibility reporting
    D.   Static reporting
    8) Disney’s variable costs are 30% of sales. The company is contemplating an advertising campaign that will cost $22,000. If sales are expected to increase $40,000, by how much will the company's net income increase?
    A.   $6,000 B.   $12,000
    C.   $28,000
    D.   $18,000
               
    9) The cost of an asset and its fair market value are __________.
    A.   never the same B.   irrelevant when the asset is used by the business in its operations
    C.   the same on the date of acquisition D.   the same when the asset is sold
    10) Which one of the following is a product cost?
    A.   Indirect labor B.   Sales person’s salaries
    C.   Advertising costs D.   Office salaries
    11) What exists when budgeted costs exceed actual results?
    A.   A budgeting error B.   An unfavorable difference
    C.   An excess profit D.   A favorable difference
    12) The income statement and balance sheet columns of Pine Company's worksheet reflects the following totals:
                            Income Statement                  Balance Sheet
                Dr.       Cr.                   Dr.       Cr.
    Totals              $58,000           $48,000                       $34,000           $44,000
               

    Closing entries are necessary for __________.
    A.   permanent accounts only B.   both permanent and temporary accounts
    C.   permanent or real accounts only D.   temporary accounts only
    13) Managerial accounting __________.
    A.   is concerned with costing products B.   pertains to the entity as a whole and is highly aggregated
    C.   places emphasis on special-purpose information D.   is governed by generally accepted accounting principles
               
    14) H55 Company sells two products, beer and wine. Beer has a 10 percent profit margin and wine has a 12 percent profit margin. Beer has a 27 percent contribution margin and wine has a 25 percent contribution margin. If other factors are equal, which product should H55 push to customers?
    A.   Beer B.   Selling either results in the same additional income for the company
    C.   It should sell an equal quantity of both D.   Wine
    15) Lekeisha's income exceeds her expenditures. Lekeisha is a __________.
    A.   saver who demands money from the financial system B.   borrower who demands money from the financial system
    C.   borrower who supplies money to the financial system D.   saver who supplies money to the financial system
    16) Maurice receives $100 as a birthday gift. In deciding how to spend the money, he narrows his options down to four choices: Option A, Option B, Option C, and Option D. Each option costs $100. Finally he decides on Option B. The opportunity cost of this decision is __________.
    A.   the value to Maurice of the option he would have chosen had Option B not been available
    B.   $100 C.   $300 D.   the value to Maurice of Options A, C and D combined
    17) A production possibilities frontier will be a straight line if __________.
    A.   the economy is producing efficiently B.   the economy is engaged in trade with at least one other economy C.   increasing the production of one good by x units entails no opportunity cost in terms of the other good
    D.   increasing the production of one good by x units entails a constant opportunity cost in terms of the other good
               
    18) In economics, the cost of something is __________.
    A.   what you give up to get it B.   often impossible to quantify, even in principle C.   the dollar amount of obtaining it D.   always measured in units of time given up to get it
               
    19) A tax on an imported good is called a __________.
    A.   supply tax
    B.   trade tax C.   quota D.   tariff
    20) Which of the following statements about GDP is correct?
    A.   GDP is to a nation’s economy as household income is to a household. B.   GDP increases if the total population increases. C.   GDP measures two things at once: the total income of everyone in the economy and the unemployment rate.
    D.   Money continuously flows from households to government and then back to households, and GDP measures this flow of money.
               
    21) In computing GDP, market prices are used to value final goods and services because __________.
    A.   if market prices are out of line with how people value goods, the government sets price ceilings and price floors
    B.   Market prices are not used in computing GDP C.   market prices reflect the values of goods and services D.   market prices do not change much over time, so it is easy to make comparisons between years

    22) Which of the following statements about GDP is correct?
    A.   Nominal GDP values production at market prices, whereas real GDP values production at the cost of the resources used in the production process.
    B.   Nominal GDP consistently underestimates the value of production, whereas real GDP consistently overestimates the value of production.
    C.   Nominal GDP values production at current prices, whereas real GDP values production at constant prices.
    D.   Nominal GDP values production at constant prices, whereas real GDP values production at current prices.
               
    23) Which of the following is not correct?
    A.   The U.S. debt per-person is large compared with average lifetime income.
    B.   In 2005, the U.S. government had a deficit. C.   A potential cost of deficits is that they reduce national saving, thereby reducing growth of the capital stock and output growth.
    D.   Deficits give people the opportunity to consume at the expense of their children, but they do not require them to do so.
               
    24) The part of the balance of payments account that lists all long-term flows of payments is called the:
    A.   balance of trade. B.   financial and capital account.
    C.   government financial account.
    D.   current account.
    25) Edward Prescott and Finn Kydland won the Nobel Prize in Economics in 2004. One of their contributions was to argue that if a central bank could convince people to expect zero inflation, then the Fed would be tempted to raise output by increasing inflation. This possibility is known as __________.
    A.   the sacrifice ratio dilemma B.   the monetary policy reaction lag
    C.   the time inconsistency of policy
    D.   inflation targeting
    26) In general, the longest lag for __________.
    A.   fiscal policy is the time it takes to change policy, while for monetary policy the longest lag is the time it takes for policy to affect aggregate demand
    B.   both fiscal and monetary policy is the time it takes for policy to affect aggregate demand
    C.   monetary policy is the time it takes to change policy, while for fiscal policy the longest lag is the time it takes for policy to affect aggregate demand
    D.   both fiscal and monetary policy is the time it takes to change policy
    27) Consider two items that might be included in GDP: (1) The estimated rental value of owner-occupied housing; and (2) purchases of newly-constructed homes. How are these two items accounted for when GDP is calculated?
    A.   Only item (2) is included in GDP and it is included in the investment component.
    B.   Item (1) is included in the consumption component, while item (2) is included in the investment component.
    C.   Item (1) is included in the investment component, while item (2) is included in the consumption component.
    D.   Both item (1) and item (2) are included in the consumption component of GDP.

    28) Managers will utilize __________ skills with increasing frequency as they rise within an organization.
    A.   Professional B.   Interpersonal and communication
    C.   Technical D.   Professional E.   Conceptual and decision
    29) Which of these represent skills that managers need?
    A.   Interpersonal, quantitative, and professional B.   Technical, interpersonal & communication and conceptual & decision making
    C.   Professional, technical and interpersonal & communication D.   Conceptual & decision making, professional and technical E.   Interpersonal & communication, conceptual & decision making and professional
               
    30) Building a dynamic organization is another way of describing which function of management?
    A.   Staffing B.   Organizing
    C.   Leading D.   Controlling
    E.   Planning
    31) Your roommate is interested in starting a business and everybody has been giving him different information about being an entrepreneur. Since you have been studying about entrepreneurship and new ventures, which of these would you tell him is true?
    A.   Anyone can start a business B.   All entrepreneurs need venture capital in order to get started C.   Successful entrepreneurs take very careful, calculated risks D.   Entrepreneurs are their own bosses and completely independent
    E.   Money should not be considered a start-up ingredient
    32) The term used to refer to all kinds of differences including religious affiliation, age, disability status, economic class and lifestyle in addition to gender, race, ethnicity and nationality is:
    A.   Diversity B.   Managerial ethics
    C.   Recruiting D.   Employment E.   Selection
    33) A manager's ability to stimulate people to be high performers is referred to as:
    A.   Planning B.   Supervising
    C.   Controlling
    D.   Organizing E.   Leading
    34) A series of quality standards developed by a committee working under the International Organization for Standardization to improve total quality in all businesses for the benefit of both producers and consumers is:
    A.   Total quality management B.   Customer-based integration C.   Computer-integrated manufacturing (CIM)
    D.   Just-in-time control (JIT)
    E.   ISO 9000
    35) Japanese manufacturers' kaizen (continuous improvement) programs enable them to maintain:
    A.   A strategic alliance B.   A homogeneous workforce C.   Positive working relationships with all employees
    D.   A Learning advantage over their competition E.   Larger, faster facilities
    36) Listening to employee suggestions, gaining support for organizational objectives and fostering an atmosphere of teamwork are all considered:
    A.   Technical skills B.   Conceptual C.   Professional skills D.   Interpersonal/communication skills
    E.   Diagnostic skills
    37) The basic components of an effective sexual harassment policy include the following EXCEPT:
    A.   To develop an organization wide policy on sexual harassment B.   To establish a means for ongoing training C.   To act immediately when employees complain of sexual harassment
    D.   To establish a performance appraisal system E.   To establish a formal complaint procedure
    38) Teams that operate separately from the regular work structure and exist temporarily are known as:
    A.   Management teams B.   Transnational teams
    C.   Self-managed teams
    D.   Parallel teams E.   Self-designing teams
               
    39) The Aquatic Center, Inc. periodically reviews the goals of the company. During the process, The Aquatic Center managers analyze their current strategies as compared to their competitors, determine goals that they will pursue and decide upon specific actions for each area of the company to take in pursuit of these goals. The Aquatic Center managers have been engaged in the management function of:
    A.   Goal Coordination
    B.   Controlling C.   Organizing D.   Staffing E.   Planning
    40) As related to managing of human resources, diversity refers to:
    A.   Differences in demographics (such as age, race, gender, disability status, lifestyle, veteran status, educational level, etc.)
    B.   Differences in pay methods (such as hourly, salaried, overtime, hazard-pay, commissioned, etc.)
    C.   Differences in employee benefit plans (such as pensions, insurance, vacations, memberships, etc.)
    D.   Differences in retention strategies (such as training, hiring, incentives, etc) E.   Differences in recruiting methods (such as newspapers, schools, flyers, magazines, agencies, etc.)
               
    41) __________ is the process of working with people and resources to accomplish organizational goals.
    A.   Controlling B.   Decision making
    C.   Planning D.   Supervising E.   Management
    42) Twelve randomly-chosen students were asked how many times they had missed class during a certain semester, with this result: 2, 1, 5, 1, 1, 3, 4, 3, 1, 1, 5, 18.
    For this sample, the median is _____.
    A.   3 B.   3.5
    C.   2.5
    D.   2
    43) Use the following table to answer question:
     P(S | W) is approximately _____.
    A.   .40
    B.   .30
    C.   .12
    D.   .58
               
    44) Use the following table to answer question:
     P(M  A) is approximately _____.
    A.   .50 B.   .625
    C.   .125
    D.   .25
    45) Dullco Manufacturing claims that its alkaline batteries last forty hours on average in a certain type of portable CD player. Tests on a random sample of 18 batteries showed a mean battery life of 37.8 hours with a standard deviation of 5.4 hours.
    In determining the p-value for reporting the study's findings, which of the following is true?
    A.   The p-value is equal to .05. B.   The p-value is greater than .05. C.   The p-value cannot be determined without specifying  . D.   The p-value is less than .05.
    46) William used a sample of 68 U.S. cities to estimate the relationship between Crime (annual property crimes per 100,000 persons) and Income (median income per capita). His estimated regression equation was Crime = 428 + .050 Income.
    Which outcomes would be likely in a bivariate regression on 45 randomly chosen U.S. cities in 2005 with
    Y = number of robberies in each city (thousands of robberies) and
    X = size of police force in each city (thousands of police)?
    A.   High R2 (due to city size). B.   Positive slope (due to city size).
    C.   No correlation. D.   Autocorrelation.
    47) Twelve randomly-chosen students were asked how many times they had missed class during a certain semester, with this result: 2, 1, 5, 1, 1, 3, 4, 3, 1, 1, 5, 18.
    For this sample, which measure of central tendency is least representative of the “typical” student?
    A.   Midrange
    B.   Mean C.   Mode D.   Median
               
    48) Likely reasons for inaccurate control limits would include which of the following?
    A.   Process variation was not zero, as expected. B.   The engineering parameter for variance is unknown.
    C.   There was insufficient preliminary sampling. D.   The engineers were underpaid for their work.
    49) You are faced with a linear programming objective function of:
    Max P = $20X + $30Y
    and constraints of:
    3X + 4Y = 24 (Constraint A)
    5X – Y = 18 (Constraint B)
    You discover that the shadow price for Constraint A is 7.5 and the shadow price for Constraint B is 0. Which of these statements is TRUE?
    A.   The most you would want to pay for an additional unit of A would be $7.50.
    B.   You can change quantities of X and Y at no cost for Constraint B. C.   For every additional unit of the objective function you create, the price of A rises by $7.50.
    D.   For every additional unit of the objective function you create, you lose 0 units of B.
               
    50) A project has three paths. A–B–C has a length of 25 days. A–D–C has a length of 15 days. Finally, A–E–C has a length of 20 days. Which one of the following statements is TRUE?
    A.   The expected duration of this project is 25 + 15 + 20 = 60 days.
    B.   A–D–C is the critical path. C.   The expected duration of this project is 25 days. D.   A–B–C has the most slack.
    51) Which one of the following statements concerning production and staffing plans is best?
    A.   A master production schedule is a projected statement of income, costs, and profits.
    B.   Aggregation can be performed along three dimensions: product families, labor, and time.
    C.   Production plans are based primarily on information from the master production plan.
    D.   A staffing plan is the intermediate link between the business plan and the master production schedule.
               
    52) While glancing over the sensitivity report, you note that the stitching labor has a shadow price of $10 and a lower limit of 24 hours with an upper limit of 36 hours. If your original right hand value for stitching labor was 30 hours, you know that:
    A.   you would lose $80 if one of your workers missed an entire 8 hour shift. B.   the next worker that offers to work an extra 8 hours should receive at least $80.
    C.   you would be willing pay up to $60 for someone to work another 6 hours.
    D.   you can send someone home 6 hours early and still pay them the $60 they would have earned while on the clock.

    53) The costs of delivering products in the _____ channel are much higher than delivering products in the _____ channel.
    A.   physical, digital B.   e-commerce, digital
    C.   physical, financial D.   digital, e-commerce
    E.   digital, physical
    54) When customers access a Web site and make purchases, they generate __________.
    A.   Tracking cookies B.   Web data C.   Information D.   Clickstream data
    E.   Hyperlink data
    55) _____ is the integration of economic, social, cultural, and ecological facets of life, enabled by information.
    A.   regionalization B.   globalization C.   nationalization D.   business environment
               
    56) Various organizations that promote fair and responsible use of information systems often develop __________.
    A.   a code of ethics B.   responsibility charters
    C.   a strategic plan D.   a mission statement E.   a goals outline
    57) What is _____ is not necessarily _____.
    A.   Illegal, unethical B.   Unethical, legal C.   Ethical, illegal D.   Unethical, illegal
    E.   Ethical, legal
    58) _____ provides users with a view of what is happening, where _____ addresses why it is happening.
    A.   Multidimensional data analysis, structured query language
    B.   Multidimensional data analysis, neural networks C.   Data mining, multidimensional data analysis D.   Data mining, expert system E.   Multidimensional data analysis, data mining
    59) Computer support is greatest for which of the following problems?
    A.   Semistructured and strategic planning B.   Semistructured and management control
    C.   Unstructured and operational control D.   Structured and operational control E.   Structured and management control
    60) The management cockpit best exemplifies which type of system?
    A.   Decision support system B.   Functional area information system
    C.   Expert system D.   Digital dashboard E.   Group decision support system
    61) _____ is the efficient and effective execution of specific tasks.
    A.   Operational control
    B.   Expertise C.   Management control
    D.   Strategic planning E.   Wisdom
    62) Geocoding is __________.
    A.   accessing geographical information B.   integrating maps with spatially oriented databases and other databases
    C.   integrating organizational transactions with spatially oriented databases D.   programming spatially oriented databases E.   encrypting spatial information
    63) At 8% compounded annually, how long will it take $750 to double?
    A.   48 months
    B.   6.5 years C.   9 years D.   12 years
    64) Which of the following represents an attempt to measure the earnings of the firm’s operations over a given time period?
    A.   Cash flow statement
    B.   Balance sheet C.   Income statement D.   Quarterly statement
               
    65) A machine costs $1,000, has a three-year life, and has an estimated salvage value of $100. It will generate after-tax annual cash flows (ACF) of $600 a year, starting next year. If your required rate of return for the project is 10%, what is the NPV of this investment? (Round your answerwer to the nearest $10.)
    A.   $570 B.   $490 C.   $900 D.   -$150
               
    66) Disadvantages of using current liabilities as opposed to long-term debt include:
    A.   higher cash flow exposure B.   greater risk of illiquidity, and uncertainty of interest costs
    C.   decreased risk of liquidity D.   certainty of interest costs E.   uncertainty of future liabilities
    67) Petrified Forest Skin Care, Inc. pays an annual perpetual dividend of $1.70 per share. If the stock is currently selling for $21.25 per share, what is the expected rate of return on this stock?
    A.   12.5% B.   36.13%
    C.   8.0% D.   13.6%
    68) Which of the following is most consistent with the hedging principle in working capital management?
    A.   Fixed assets should be financed with short-term notes payable. B.   Inventory should be financed with preferred stock. C.   Accounts receivable should be financed with short-term lines of credit.
    D.   Borrow on a floating rate basis to finance investments in permanent assets.