BUS 475 Final Exam Questions and Answers Latest Updated 2024/2025 (Verified Answers)

BUS 475 Final Exam Questions and Answers Latest Updated 2024/2025 (Verified Answers) Which of the following is NOT an element of manufacturing overhead? a. 0 Factory employee’s salary b. 0 Depreciation on the factory c. 0 Plant manager’s salary d. 0 Factory repairperson’s wages 2. What accounts are NOT classified in the current assets section of the balance sheet? a. 0 Cash b. 0 Accounts payable c. 0 Security deposits d. 0 Inventory 3. The starting point of a master budget is the preparation of the a. 0 cash budget. b. 0 sales budget. c. 0 production budget. d. 0 budgeted balance sheet. 4. What amounts are not included in Gross Margin? a. 0 Operating expenses b. 0 Sales c. 0 Cost of goods sold d. 0 Commissions paid 5. At what rate is the income statement converted for US $ comparison? a. 0 Month end b. 0 First day of the month rate c. 0 Average rate d. 0 It is not appropriate to convert to US $. 6. Which list below best describes the major services performed by public accountants? a. 0 Bookkeeping, mergers, and budgets b. 0 Employee training, auditing, and bookkeeping c. 0 Auditing, taxation, management consulting d. 0 Cost accounting, production scheduling, recruiting 7. Jaime Inc. manufactures two products, sweaters and jackets. The company has estimated its overhead in the order-processing department to be $180,000. The company produces 50,000 sweaters and 80,000 jackets each year. Sweater production requires 25,000 machine hours, jacket production requires 50,000 machine hours. The company places raw materials orders 10 times per month, 2 times for raw materials for sweaters and the remainder for raw materials for jackets. How much of the order-processing overhead should be allocated to jackets? a. 0 $90,000 b. 0 $120,000 BUS 475 Final Exam Answers Latest Updated 2024/2025 (Verified Answers) c. 0 $110,770 d. 0 $144,000 8. ABC Bread sells a box of bagels with a contribution margin of 62.5%. Its fixed costs are $150,000 per year. How much sales dollars does ABC Bread need to break-even per year if bagels are its only product? a. 0 $93,750 b. 0 $150,000 c. 0 $240,000 d. 0 $90,000 9. What exists when budgeted costs exceed actual results? a. 0 A budgeting error b. 0 A favorable difference c. 0 An unfavorable difference d. 0 An excess profit 10. Disclosures about inventory should include each of the following EXCEPT a. 0 The basis of accounting b. 0 The costing method c. 0 The quantity of inventory d. 0 The major inventory classifications 11. Which of the following is NOT a part of the accounting process? a. 0 Recording b. 0 Identifying c. 0 Financial decision making d. 0 Communicating 12. The cost principle is the basis for preparing financial statements because it is a. 0 a conservative value. b. 0 relevant and objectively measured, and verifiable. c. 0 an international accounting standard. d. 0 the most accurate measure of purchasing power. BUS/475 Sample Final Exam Quantitative analysis Probability and statistics Measure of set operations Conditional/joint probabilities Counting rules Measures of central tendency and dispersion Distributions (including normal and binomial) Sampling and estimation Hypothesis testing Correlation and regression Time-series forecasting Statistical concepts in quality control Management science Linear programming Project scheduling (including PERT and CPM) Inventory and production planning Managing continuous improvement Special topics (including queuing theory, simulation, and decision analysis) 1. Data is considered invalid when a. 0 it is outdated. b. 0 it is inconsistent. c. 0 it is unreliable. d. 0 it does not measure the intended concept . 2. Data is considered reliable when a. 0 the test measures what we actually want to measure. b. 0 it is quantitative. c. 0 the measurement process is accurate and precise. d. 0 it is qualitative. 3. When the reported data is different from the actual data, there is a a. 0 reporting error. b. 0 sampling error. c. 0 response error. d. 0 computation error. 4. When measures of central tendency are not affected by extremely low or extremely high values? a. 0 Mean and median b. 0 Mean and mode c. 0 Mode and median d. 0 Standard deviation and mean 5. What is the relationship among the mean, median, and mode in a symmetric distribution? a. 0 All equal b. 0 Mean is always the smallest value c. 0 Mean is always the largest value d. 0 Mode is the largest value 6. Suppose you want to show the changes in the unemployment rate in the United States during 2000–2008. The most appropriate chart you would use will be a a. 0 pareto chart. b. 0 line chart. c. 0 bar chart. d. 0 pie chart. e. 0 All are suitable 7. If two events are independent, the probability that both occur is a. 0 0. b. 0 0.50. c. 0 1.00. d. 0 the multiple of probabilities of the two events. 8. What will happen to the width of a confidence interval if the sample size is doubled, from 100 to 200? a. 0 It will increase. b. 0 It will decrease. c. 0 It will remain the same. d. 0 It will double. 9. The shape of the F distribution is a. 0 symmetric. b. 0 skewed right. c. 0 skewed left. d. 0 the same as the t distribution. 10. The French Enterprise wants to market its product, Learn French in 5-Days. It has chosen television and radio to market this product. A 1-minute television ad costs $30,000 and a 1- minute radio add costs $5,000. The French Enterprise must decide how many television ads to purchase. What are the decision variables? a. 0 x1 = television channels and x2 = radio channels b. 0 x1 = number of French students and x2 = number of English students c. 0 x1 = 30,000 and x2= 5,000 d. 0 x1 = number of 1-minute television ads and x2= number 1-minute radio ads 11. Which of these statements is NOT true about CPM and PERT? a. 0 In a project, if the duration of the activities is known we use PERT, if the duration is not known we use CPM. b. 0 CPM and PERT have been used in scheduling construction projects, c. 0 The predecessors are a set of activities that must be completed before an activity. d. 0 CPM and PERT have been used in building ships. 12. Which of these costs are involved in Inventory Modeling? a. 0 Unit purchasing costs b. 0 Ordering and setup costs c. 0 Holding costs d. 0 All of these 13. Opportunities for improvement are often found in eliminating waste. Which area often attributes to waste? a. 0 Overproduction b. 0 Transportation c. 0 Inventory d. 0 None of these e. 0 All of these 14. Which of these statements is false? a. 0 Simulation imitates the real-world operations as it evolves over time. b. 0 Simulation is straightforward and easier than analytical models. c. 0 Simulation optimization is a slow process. d. 0 None of these BUS/475 Sample Final Exam Marketing Identifying attractive markets Strategic marketing planning Scanning marketing environment Marketing research and information technology tools Consumer and organizational buyer behavior Marketing institutions The marketing mix (product, price, place, and promotion) Segmenting consumer and organizational markets Marketing services Marketing for not-for-profit organizations Marketing of social causes International marketing* 1. The marketing management process is the process of a. 0 planning marketing activities. b. 0 implementing marketing plans. c. 0 controlling marketing plans. d. 0 All of these e. 0 None of these 2. Segmenting in international markets can be more challenging than segmenting in domestic markets because a. 0 there is less diversity in the key segmenting dimensions. b. 0 there is often more data available about key segmenting dimensions. c. 0 critical data is often less available and less dependable. d. 0 international laws are different than domestic laws. e. 0 None of these 3. A detailed customer database, containing past purchases and other segmenting information, is used to focus marketing efforts on individual customers in a a. 0 clustering management systems. b. 0 product positioning matrix. c. 0 product differentiation matrix. d. 0 diversification management system. e. 0 customer relationship management system. 4. Dell, Inc. was to offer customers televisions in addition to computers. This is a change in their __________________ strategy? a. 0 pricing b. 0 promotional c. 0 personnel d. 0 product e. 0 placement 5. Which of the following statements about world population is TRUE? a. 0 In general, countries that have higher stages of development experience faster rates of growth than less-developed countries. b. 0 The extent to which a country’s population is clustered around urban areas DOES NOT vary much from country to country. c. 0 People are moving from rural areas into more industrial and urban areas. d. 0 The trend toward urbanization has made companies less interested in international markets. e. 0 All of these 6. Which of the following is TRUE: