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BUS 475 Capstone Final Examination Part 2
1. Which of the following is not a current liability on December 31, 2014?
A lawsuit judgment to be decided on January 10,2015
A Note Payable due December 31 2015
Accrued salaries payable from 2014
An Accounts Payable due January 31,2015
2. Continuous monitoring, in the contemporary approach, is beneficial
because_____________.
3.
97.5%
95%
2.5%
5%
6.
7.
Corporate governance
Strategy implementation
Business-level strategy
Corporate-level strategy
needed to ensure that the expense recognition principle is
followed.
9.
Infinity
+1
-1
information systems
procurement
technology development
rules-based
principles-based
the internal analysis of the firm and the external analysis of the
industry and competitive environment
the interrelationships among the primary activities of the firm and
corporate management
15. Sarbanes Oxley applies to:
Trial balance
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Balance
accretion
amortization
depreciation
capitalization
21. According to the text, the triple bottom line approach to corporate
accounting includes three components:
22. An analyst believes the probability that U.S. stock returns exceed longterm corporate bond returns over a 5-year period is based on personal
assessment. This type of probability is best characterized as a(n)
____________.
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Subjective probability
Objectivity probability
Empirical probability
A priori probability
23. Green, Inc. had 200,000 shares of common stock outstanding before a
stock split occurred and 800,000 shares outstanding after the stock split.
The stock split was:
2-for-8
1-for-8
8-for-1
4-for-1
the fact that court costs could impact the financial bottom line
26. For both qualitative and quantitative data, what is the difference
between the relative frequency and the percent frequency?
The number of customers who visit a department store between
10:00 a.m. and 11:00 a.m. on Mondays
30 units at $120
July 5: Purchases
180 units at
$112
120 units
90 units at $115
84 units
Assuming that a periodic inventory system is used, what is the cost of goods
sold on a FIFO basis?
$23,088
$11,022
$10,992
$23,118
32. Which of these statements regarding the industry life cycle is correct?
Trends suggested by the market life cycle model are generally not
reversible or repeatable.
Part of the power of the market life cycle is its ability to serve as a
short-run forecasting device.
33. What is a difference between merchandising companies and service
enterprises?
10
Merchandising companies must prepare multiple-step income
statements and service enterprises must prepare single-step income
statements.
Cost of goods sold is an expense for service enterprises but not for
merchandising companies.
Vision statement
Strategic objective
$400,000
$120,000
$4,000,000
$280,000
Collinear variables
42. On March 1st, Candy, Inc. had supplies on hand of $1,500. During the
month, Candy purchased supplies of $2,900 and used supplies of $2,800.
The March 31st balance sheet should report what balance in their supplies
account?
$2,800
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$1,500
$1,600
$2,900
45. Which financial statement would best indicate whether the company
relies on debt or stockholders equity to finance its assets?
Income statement
Balance sheet
14
47. The manager of Weiser is given a bonus based on net income before
taxes. The net income after taxes is $35,700 for FIFO and $29,400 for
LIFO. The tax rate is 30%. The bonus rate is 20%. How much higher is
the manager's bonus if FIFO is adopted instead of LIFO?
$12,600
$9,000
$6,300
$1,800
Computer assembly
50. The owner of a company has recently decided to raise the salary of one
employee, who was already making the highest salary, by 20%. Which of
the following is(are) expected to be affected by this raise?
Median only
Mean only
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