QUESTIONS AND ANSWERS|| ALREADY
GRADED A+|| LATEST UPDATE 2026
Assume that $1 is equal to ¥102.32 and also equal to C$1.0958. Based on this,
you could say that C$1 is equal to: C$1(¥102.32 / C$1.0958) = ¥93.37. The
exchange rate of C$1 = ¥93.37 is referred to as the:
A) Cross-rate
B) Interest rate
C) Forward rate
D) Open exchange rate
E) Backward rate - ANSWER-A) Cross-rate
There are 10 rolls of film in a box and 3 are defective. Two rolls are to be
selected without replacement. What is the probability of selecting a defective
roll followed by another defective roll?
a) 1/2, or 0.50
b) 1/4, or 0.25
c) 1/120, or about 0.0083
d) 1/15, or about 0.07 - ANSWER-d) 1/15, or about 0.07
You are investing $100 today in a savings account at your local bank. Which
one of the following terms refers to the value of this investment one year from
now?
,a) future value
b) present value
c) principal amounts
d) discounted value
e) invested principal - ANSWER-a) future value
Which of the following consists of factors that influence consumer buying
power and marketing strategies?
a) competitive environment
b) cultural environment
c) economic environment
d) regulatory environment - ANSWER-c) economic environment
Steel, paper, paints, and chemicals are examples of industries that most likely
use
a) batch production systems
b) repetitive production systems
c) continuous production systems
d) mass production systems - ANSWER-c) continuous production systems
A company is considering producing a product for a new market. The fixed
costs required for manufacturing and delivering the product is $50,000. Labor
and material costs are estimated to be approximately $25.00 per product. If the
product is sold for $35.00 each, the firm's break-even volume would be:
a) 50,000 units
,b) 5,000 units
c) 2,500 units
d) 500 units - ANSWER-b) 5,000 units
All of the financial statements are for a period of time except the
a) Income statement
b) Owner's equity statement
c) Balance sheet
d) Statement of cash flows - ANSWER-c) Balance sheet
The Bill of Rights refers to:
a) the inalienable rights found at the beginning of the Constitution
b) the first ten amendments to the Constitution
c) a specific listing of individual rights found in the original text of the
Constitution.
d) a grouping of individual rights set forth by the United States Supreme Court
shortly after the Constitution was ratified by the states - ANSWER-b) the first
ten amendments to the Constitution
Maxwell has been named to an upper-level management position at QVC. He
will be working with transportation media, order processing, and development
of marketing channels. Maxwell is involved in developing _____ strategies.
, a) product
b) distribution
c) promotional
d) marketing - ANSWER-b) distribution
Kershaw Bookstore had 500 units on hand at January 1, costing $18 each.
Purchases and sales during the month of January were as follows:
Date Purchases Sales
Jan 14 375 @ $28
Jan 17 250 @ $20
Jan 25 250 @ $22
Jan 29 250 @ $32
Kershaw does not maintain perpetual inventory records. According to a physical
count, 375 units were on hand at January 31.
The cost of the inventory at January 31, under the LIFO method is:
a) $1,000
b) $6,750
c) $7,750
d) $8,000 - ANSWER-b) $6,750
The term "net working capital" refers to
a) inventories, receivables, and current notes and investments