Which of the following countries exemplifies the concept of opportunity cost?
A. An African country that produces electronic goods on a large scale without compromising on any other produce
B. A South American country that expands its trade relations to neighboring countries
C. A European country that produces more cotton than a North American country despite having equal resources
D. An Asian country that increases its production of sugar by decreasing its production of cocoa
Answer: D
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Suppose you borrowed $15,000 at a rate of 8.5% and must repay it in 5 equal installments at the end of each of the next 5 years. By how much would you reduce the amount you owe in the first year?
A. $2,404.91 B. $2,531.49 C. $2,658.06 D. $2,790.96 E. $2,930.51
Answer the following statements true (T) or false (F)
1. The chief financial officer, controller, and treasurer are all examples of staff positions. 2. Strategic planning focuses on short term actions while operational planning involves developing long- term strategies. 3. The cost of direct materials cannot easily be traced to the manufactured product, and therefore, it is a component of manufacturing overhead. 4. Direct costs and indirect costs can be easily traced directly to a cost object. 5. The wages of factory janitors are considered to be direct labor costs because they are directly related to the manufacturing process.
You recently taught employees how to use a new learning management system. Now you want to know about the following information. Which one is the most appropriate one to be measured with a self-administered survey?
a. How satisfied are you with the new learning management system? (Very dissatisfied) 1 2 3 4 5 (Very satisfied) b. What is the overall turnover rate? ______ % c. How many times per week do you log into the new learning management system? ______ times d. Which pull-down menu should you use to retrieve data about employees’ training completion status? ___ Reports ___ Tools ___ My View
Suppose that Emmett impersonates a famous clown. He goes into an advertising agency and convinces the manager to issue a check to him in the name of the famous clown, purportedly as part of a fund-raising campaign for a nursing home for old retired clowns. If Emmett negotiates the check to a check-cashing store by forging the name of the famous clown, then the ad agency will be able to argue that
the bank must reimburse the account because the bank paid a check on a forged signature. a. True b. False Indicate whether the statement is true or false