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BUSN 427 Final Exam | DeVry Online Help

BUSN 427 Final Exam | DeVry Online Help | DevryExams2 - DevryOnlineHelp | Scoop.it

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(TCO 1) Which are factors that move the world toward more globalization?

(TCO 2) What is the difference between communists and social democrats?

(TCO 3) What is probably more important than culture in explaining the differences in economic growth between countries?

(TCO 3) Which theory deals with competitive advantage for countries?

(TCO 4) FDI tends to flow

(TCO 5) Which of the following is not a member of the Asia-Pacific Economic Cooperative?

(TCO 6) What common good is used in most nations to create an index for measuring purchase power parity in various nations?

(TCO 8) What are the various types of countertrade available?

(TCO 8) In distribution strategy, what are the four main differences between countries?

(TCO 3) When McDonald’s initially entered China, it was confident that its success in other parts of the world would facilitate its success in China, but they quickly found out that the relationships and connections implied by guanxi are an essential to business success in China. McDonald’s lost an attractive store location near Tiananmen Square to a Hong Kong developer who, thanks to relationships and connections developed over the years, was able to persuade city officials to overlook the lease McDonald’s held for the property.

Explain the concept of guanxi. Why is it so important to businesses operating in China? How did McDonald’s lack of guanxi raise its costs of doing business in China?

(TCO 3) In 2006, two Chinese journalists reported that the working conditions at Hongfujin Precision Industries where Apple’s iPods are produced were substandard. According to the report, not only were workers at the plant poorly paid, but they were also forced to work overtime. Apple immediately responded to the allegations and audited the factory in question. However, managers at the factory filed a defamation lawsuit against the two journalists. Despite the fact that Apple’s audit did indeed show substandard working conditions at the factory, Hongfujin did not withdraw the lawsuit. Eventually the Reporters Without Borders group took up the case for the two reporters and the lawsuit was dropped.

Should Apple be responsible for ensuring that its suppliers are safeguarding the basic rights and dignity of its employees? How can Apple be sure that its suppliers do not employ sweatshop labor?

(TCO 3) Exports are largely responsible for China’s recent rapid economic growth. The country, capitalizing on its cheap labor force, has focused on converting raw materials into products that are exported to developed countries such as the United States. In 2008, China’s trade surplus was a record $280 billion, and its holdings of foreign exchange reserves were over $1.95 trillion. Some critics have suggested that China is following a neomercantilist policy.
Are the claims that China is following a neomercantilist policy valid? Why or why not?

(TCO 4) For years, Japan has been relatively closed to significant foreign direct investment, but more recently the government has changed its policy and actually now encourages inward investment. Wal-Mart, taking advantage of this shift in policy, acquired a large Japanese retailer in 2002. Wal-Mart’s initial venture into Japan has been challenging and has forced the company to change its approach to better compete with local retailers and meet the needs of Japanese consumers.

Why did Japan change its position on inward foreign direct investment? How will Wal-Mart’s investment benefit Japan?

(TCO 7) Which of the following are true about the International Monetary Fund?

(TCO 5) Concerning European Union’s progress toward creating a single financial market, the quest started in 1999 was to have been completed by 2005, however, progress has been slowed by various factors related to the tradition of each member country operating autonomously. By 2007, significant progress had been made. Some 41 measures designed to create a single market were in place and others were in the pipeline. The current issue facing the EU revolves around the enforcement of the rules that have been established as law. Some experts believe that it will be at least another decade before the benefits of the new rules become apparent. Discussion of this feature can begin with the following questions.
What are the benefits of creating a single financial market in the European Union for companies? Does it make sense for consumers?

(TCO 6) In the 1980s, Caterpillar was negatively affected by a strong dollar and lost significant market share to Japanese competitor Komatsu. The situation prompted Caterpillar to revise its global strategy and by the 2000s, the company was in a much better position to deal with volatile currency values. More recently, a strong dollar has actually helped boost Caterpillar’s bottom line.

In the 1980s, a stronger dollar hurt Caterpillar’s competitive position, but in 2008 a stronger dollar did not seem to have the same effect. What had changed?

(TCO 7) After joining the European Union in 2004, Latvia established a currency board system that pegged the value of its currency to the euro. This system came under significant pressure when the effects of the financial crisis that began in the United States in 2008 spilled over into the country. Latvia was eventually forced to ask the International Monetary Fund and the European Union for assistance in order to get its financial system and economy back on track. As part of the assistance package, Latvia was required to make significant changes in its economic policy.

Why did the initial effort by Latvia’s government to stabilize the country’s currency fail? Was the government attempting to stop a banking crisis or a foreign debt crisis?

(TCO 8) Vellus Products is a small company that produces personal care products for dogs. Vellus Products initially began exporting when a Taiwanese business placed an order for its dog shampoo. Since then, Vellus Products has expanded its export business and today, international sales account for about half its total sales. Vellus Products now sells in 28 countries around the world.

Can other small companies learn from the experiences of Vellus Products? Reflect on the tips of Vellus Products’ founder Sharon Doherty for beginning the export process.

(TCO 8) By 2012, India is expected to export half a million vehicles a year. South Korea’s Hyundai is leading the charge, exporting over one third of its Indian production. Suzuki and Nissan have both entered the Indian market more recently. Both companies see the Indian market as an important component in their future production and marketing strategies.
Why did Hyundai and other global automakers choose India as a production location? What makes India attractive to auto producers?

(TCO 8) Microsoft is meeting the challenges of expanding into the potentially lucrative Indian market, a market where currently most people cannot afford a computer nor the Microsoft programs to run it. Microsoft has changed its highly standardized approach to markets to develop products specifically designed to meet the needs of the Indian market. In addition, the company has established local R & D operations that it hopes will generate new products for the market.
How does Microsoft vary the marketing mix of its existing product offerings to gain traction with Indian customers? What else has Microsoft done to make headway in India?

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BUSN 278 Final Exam | DeVry Online Help

BUSN 278 Final Exam | DeVry Online Help | DevryExams2 - DevryOnlineHelp | Scoop.it

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1. (TCO 7) The first step in creating the master budget is the sales budget. Describe this budget and the information it includes. Why is the accuracy of the sales budget important?

2. (TCO 9) Understanding how costs behave can help managers plan operations and choose between various courses of action

3. (TCO 6) Yappy Company is considering a capital investment of $320,000 in additional equipment. The new equipment is expected to have a useful life of 8 years with no salvage value. Depreciation is computed by the straight-line method. During the life of the investment, annual net income and cash inflows are expected to be $25,000 and $65,000, respectively. Yappy requires a 10% return on all new investments.

4. (TCO 7) Roswell Company has budgeted sales revenue as follows for the next 4 months as follows:

5. (TCO 8) Eastern Company’s budgeted and actual sales for 2009 were

6. (TCO 9) The Mays Clinic has the following monthly telephone records and costs

1. (TCO 7) The first step in creating the master budget is the sales budget. Describe this budget and the information it includes. Why is the accuracy of the sales budget important? (Points : 20)

2. (TCO 9) Understanding how costs behave can help managers plan operations and choose between various courses of action

3. (TCO 6) Yappy Company is considering a capital investment of $320,000 in additional equipment. The new equipment is expected to have a useful life of 8 years with no salvage value. Depreciation is computed by the straight-line method. During the life of the investment, annual net income and cash inflows are expected to be $25,000 and $65,000, respectively. Yappy requires a 10% return on all new investments

4. (TCO 7) Roswell Company has budgeted sales revenue as follows for the next 4 months as follows:

5. (TCO 8) Eastern Company’s budgeted and actual sales for 2009 were

6. (TCO 9) The Mays Clinic has the following monthly telephone records and costs

(TCO 6) Yappy Company is considering a capital investment of $320,000 in additional equipment. The new equipment is expected to have a useful life of 8 years with no salvage value. Depreciation is computed by the straight-line method. During the life of the investment, annual net income and cash inflows are expected to be $25,000 and $65,000, respectively. Yappy requires a 10% return on all new investments

(TCO 7) Roswell Company has budgeted sales revenue as follows for the next 4 months as follows:

(TCO 8) Eastern Company’s budgeted and actual sales for 2009 were:

(TCO 9) The Mays Clinic has the following monthly telephone records and costs:

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BUSN 258 Final Exam Set 1

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1. Question : (TCO 1) The best way to win customer loyalty is to:

2. Question : (TCO 2) Which of the following problems is NOT listed as a people turnoff?

3. Question : (TCO 3) Small companies can compete against larger ones if they offer:

4. Question : (TCO 4) Which of the following is NOT an example of something a company can do to enhance extrinsic value?

5. Question : (TCO 5) Companies cannot wait years for their customers to see long-term value, so they should:

6. Question : (TCO 4) Smart companies connect with their customers through:

7. Question : (TCO 5) Intrinsic value arises from:

8. Question : (TCO 5) Communication efficiency is:

9. Question : (TCO 5) Customer convenience stems from:

10. Question : (TCO 4) How long do Americans want to spend preparing a meal?

11. Question : (TCO 9) To avoid requiring customers to do repetitive tasks:

12. Question : (TCO 8) A company’s culture is made up of:

13. Question : (TCO 8) Many customers get their first impression of your company from:

14. Question : (TCO 9) Calling yourself Mr. or Ms. may give the impression that:

15. Question : (TCO 8) Which employees do most customers associate with a company?

16. Question : (TCO 10) The three-step process for acting on complaints does NOT include:

17. Question : (TCO 10) What percent of customers whose complaints are dealt with report a willingness to do business with a company again?

18. Question : (TCO 10) Feedback is a form of:

19. Question : (TCO 10) A quick response to a customer’s problem should convey:

20. Question : (TCO 11) When it comes to listening versus speaking:

21. Question : (TCO 12) A good strategy with an angry customer is:

22. Question : (TCO 6) Which of the following behaviors is NOT characteristic of aggressive people?

23. Question : (TCO 11) Abrasiveness refers to:

24. Question : (TCO 13) In the NPS formula, the P stands for:

25. Question : (TCO 13) Market share refers to:

1. Question : (TCO 1, 2) Define and explain the NPS formula and how it applies to customer satisfaction.

2. Question : (TCO 4,5) Explain the concept of goodness of product fit.

3. Question : (TCO 6, 7) Describe the two personalities a customer will encounter when doing business with an organization, and provide examples of each from your own experience.

4. Question : (TCO 8, 9) Describe at least three techniques that companies can use to successfully engage their customers. What are your recommendations for improving a company’s ability to engage their customers?

5. Question : (TCO 13) Describe the difference between customer share and market share. Explain which concept is more important.

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BIS 155 Final Exam | DeVry Online Help

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1. (TCO 1) You work for a local construction firm, “DeVry Engineering Group” and your supervisor wants to test your knowledge and skills with Microsoft Excel and has instructed you to develop a spreadsheet to calculate weekly payroll for “15” employees with the following assumptions:Note: This is a one part question.• Each employee could have a standard hourly rate between $10.00 and $30.00 per hour.
• Each employee qualifies to earn overtime at a rate of 1.5 of his or her hourly rate for every hour greater than 40 hours.
• Each employee will have a standard 7.65% deduction for social security
• Each employee will have a standard 14.00% deduction for Federal Taxes
• Each employee will have a standard 5.33% deduction for State TaxesExplain how you will structure and format your worksheet, including titles, column headings, and formulas to calculate payroll variables for each employee to determine “Net Pay” including and not limited to Total Hours, Gross Pay, Social Security Tax, Federal Withholding Tax, and Sate Withholding Tax. In addition, determine how you would extract overtime hours from a calculated value of “Total Hours” using a conditional formula.

In addition, your supervisor will need this weekly payroll report on a weekly basis and instructed you to keep the payroll history of all weeks within “1″ workbook but has allowed you to decide if you would rather keep the payroll running on one worksheet or by assigning a new worksheet for each week. Using your knowledge learned in this class, descriptively explain whether you would keep all weekly payrolls in one worksheet or assigned to new worksheets by week. Defend your reasoning’s on the approach your take based on what you have learned in this course.

(Points : 40)

 

2. (TCO 3) You currently work for an automotive parts supply store. Your company is growing and is considering expansion. The company currently has three locations (North, South, and Central) in one state. Each parts supply store carries inventory in four categories. You have been presented with the sales figures for the last three years for each location and inventory category by store. Based on this information, you’re tasked with analyzing current sales for each store by category and overall total sales by store and category.Note: This is a four part question.1.) Explain your approach to setting up your worksheets and organizing the data.2.) Explain how you will visually represent the data for the total sales of the individual inventory categories for each location for the time periods shown.

3.) Explain how you will visually represent the consolidated data for the sales of all stores and all inventory categories for all time periods in one chart or graph.

4.) Once you have finished the above tasks, you plan to send the Excel workbook to your manager for evaluation. Your manger is presenting your findings to the Board of Directors for justification for additional capital expenditures. The visually representations need to be concise and clear by able to support the requested expenditures. Explain how you would use the integration features of MS Office to incorporate the Excel information into other presentation media.

(Points : 40)

 

3. (TCO 4) You are given a spreadsheet with daily sales numbers ordered by date from January 1st to December 31st. You have been tasked with finding the average sales of each month, then to reorder the months so they are listed in order from highest to lowest average sales. Give a step-by-step explanation of how you will rearrange the data so you can analyze the best and worst months.Note: This is a one part question.(Points : 40)

 

4. (TCO 5) You’ve just joined the staff of the XYZ Manufacturing Company (XYZ, for short). XYZ manufactures only one product, the gizmo. It comes in two sizes, the mini-gizmo and the magna-gizmo. Both are difficult to manufacture, and consequently, the company closely monitors rejected units. The company has three locations, each of which produces both the mini and the magna-gizmos. You are automating the weekly production reports so that you can easily calculate total production for the entire company each week.
The mini-gizmo is priced at $3.25 per unit. The magna-gizmo is priced at $7.00 per unit. The unit cost for a reject mini-gizmo is $1.75. The cost for a reject magna-gizmo is $3.50. Respond fully to the following questions regarding this task:Note: This is a two part question.1.) The managers will e-mail their weekly reports to you on Monday of the following week. You will then produce the summary report. Explain the process for doing this. Give a sample formula to total the number of mini-gizmos produced by the entire company in a week.2.) Each week, you will present the combined report to your boss, who wants to see both the summary and the individual sheets for each location. You want to add a header with the date and your name to each page. What is the easiest way to do this? Explain the process.

(Points : 40)

 

5. (TCO 9) You have been tasked with analyzing an extremely large amount of data and to ultimately produce a report to share with the board of directors. The data is currently in a text file and has over two thousand records of data. Explain how you would use Excel to analyze this data and organize it to prepare a written report. Be very specific on the variety of tools you would use and the steps you would go through to analyze the data and to ultimately prepare a detailed report with recommendations.

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ACCT 557 Final Exam

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(TCO A) Benny Building, Inc. won a bid for a new warehouse building contract.
Below is information from the project accountant.

TCO B) At the beginning of 2012, Barbara, Inc. has a deferred tax asset of $8,000 and deferred tax liability of $6,500. In 2012, pretax financial income was $600,000 and the tax rate was 35%.

(TCO C) Presented below is pension information related to Baked Goods, Inc. for the year 2013

(TCO C) Bunny Hopping, Inc. sponsors a defined-benefit pension plan. The following data relate to the operation of the plan for the year 2013

(TCO D) Bucky, Inc. leased equipment from Green Enterprises under a 4-year lease requiring equal annual payments of $65,000, with the first payment due at lease inception. The lease does not transfer ownership, nor is there a bargain purchase option. The equipment has a 4-year useful life and no salvage value. Bucky, Inc.’s incremental borrowing rate is 10% and the rate implicit in the lease (which is known by Pisa, Inc.) is 8%. Assuming that this lease is properly classified as a capital lease, what is the amount of interest expense recorded by Bucky, Inc. in the first year of the asset’s life?

(TCO E) On December 31, 2013, Antique Salvage, Inc. appropriately changed its inventory valuation method  from weighted-average cost to FIFO method for financial statement and income tax purposes. The change will result in a $1,000,000 increase in the beginning inventory at January 1, 2013. Assume a 40% income tax rate. The cumulative effect of this accounting change on beginning retained earnings is

(TCO E) Which of the following is not a change in accounting estimate

(TCO F) Balancing Act, Inc recognized net income of $489,000 including $7,500 in depreciation expense

(TCO G) The disclosure of accounting policies is important to the financial statements when determining

(TCO G) Adventure, Inc is a company that operates in four different divisions. The following information relating to each segment is available for 2013

(TCO A) Bentley Corporation has several divisions. All operations keep their own accounting books and have chosen the appropriate method of revenue recognition

(TCO B) Buffy, Inc. qualifies to use the installment-sales method for tax purposes and sold an investment on an installment basis. The total gain of $750,000 was reported for financial reporting purposes in the period of sale. The installment period is 3 years; one third of the sale price is collected in 2012 and the rest in 2013. The tax rate was 40% in 2012, 35% in 2013, and 35% in 2014. The accounting and tax data is shown below

(TCO D) Bing Leasing, Inc. agrees to lease equipment to Boyd, Inc. on January 1, 2012. They agree on the following terms:

(TCO F) Financial data of Beautiful Beadwork Company for 2013 and 2012 are presented below

(TCO G) Selected financial ratios.
The following information pertains to Allbright, Inc

(TCO E) Changes in accounting principle include direct and indirect effects. Please discuss how the indirect effects of a change in accounting principle should be treated and disclosed

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BUSN 379 Final Exam | DeVry Online Help

BUSN 379 Final Exam | DeVry Online Help | DevryExams2 - DevryOnlineHelp | Scoop.it

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1.  (TCO 4) Which of the following is true regarding the evaluation of projects? (Points : 4)

sunk costs should be included
erosion effects should not be considered
financing costs need to be included
opportunity costs are relevant

2. (TCO 4) Which of the following investment ranking methods does not consider the time value of money? (Points : 4)

net present value method
payback method
internal rate of return method
all of these are time-adjusted methods

3. (TCO 3 and 4) A net present value of zero implies that an investment: (Points : 4)

has no initial cost.
has an expected return that is less than the required return.
should be rejected even if the discount rate is lowered.
never pays back its initial cost.
is earning a return that exactly matches the requirement.

4. (TCO 3 and 4) What is the net present value of a project with the following cash flows, if the discount rate is 15 percent?

Year

0

1

2

3

4

Cash flow

-$45,000

$11,520

$13,630

$16,470

$18,990

(Points : 4)

-$2,989.48
-$2,599.55
$1,153.37
$2,880.08
$3,312.09

5. (TCO 4) Leward Manufacturing is spending $115,000 to update its equipment. This is necessary if the firm wishes to be competitive in the marketplace and provide a wide array of product models. The company estimates that these updates will improve its cash inflows by $27,500 a year, for eight years. What is the payback period? (Points : 4)

4.18 years
5.82 years
6.62 years
7.79 years
This project never pays back

6. (TCO 4) The postponement of a project until conditions are more favorable: (Points : 4)

is a valuable option.
is referred to as the option to extend.
could not cause a negative net present value project to become a positive net present value project.
will generally cause the internal rate of return for a project to decline.

7. (TCO 4) ___________, occurs when a firm cannot raise financing for a project under any circumstances. (Points : 4)

contingency planning.
hard rationing.
soft rationing.
capital constraint.
scenario analysis.

8. (TCO 4) ABC Cameras is considering an investment that will have a cost of $10,000 and the following cash flows: $6,000 in year 1, $4,000 in year 2 and $3,000 in year 3. Assume the cost of capital is 10%. Which of the following is true regarding this investment? (Points : 4)

The net present value of the project is approximately $10,000
This project should be accepted because it has a positive net present value
This project’s payback period is 10 years or more
None of the above is true

9. (TCO 4) Assume Company X plans to invest $60,000 in new computers. Using Tables 9.6 and 9.7 of your textbook (Page 277), which is the second year depreciation amount under MACRS? (Points : 4)

$12,000
$19,200
$19,800
None of the above

10. (TCO 1 and 4) Assume a corporation has earnings before depreciation, and taxes of $100,000, depreciation of $40,000, and that it has a 30 percent tax bracket. What are the after-tax cash flows for the company? (Points : 4)

$82,000
$110,000
$42,000
none of these

11. (TCO 8) Which of the following statements is true regarding systematic risk? (Points : 4)

is diversifiable
is the total risk associated with surprise events
it is measured by beta
it is measured by standard deviation

12. (TCO 8) Which statement is true regarding risk? (Points : 4)

the expected return is usually the same as the actual return
a key to assess risk is determining how much risk an investment adds to a portfolio
risks can always be decreased or mitigated by the financial manager
the higher the risk, the lower the return investors require for the investment

13. (TCO 8) The stock of Hobby Town has an expected return of 8.8 percent. Given the information below, what is the expected return on this stock if the economy is normal?

State of Economy

Probability of State of Economy

Rate of Return

Recession

.10

-.09

Normal

.70

?

Boom

.20

.26

(Points : 4)

3.86 percent
4.42 percent

6.43 percent
7.28 percent
8.21 percent

14. (TCO 8) You own a portfolio that consists of $8,000 in stock A, $4,600 in stock B, $13,000 in stock C, and $5,500 in stock D. What is the portfolio weight of stock B? (Points : 4)

14.79 percent
15.91 percent
18.42 percent
19.07 percent
19.46 percent

15. (TCO 8) You would like to create a portfolio that is equally invested in a risk-free asset and two stocks. The one stock has a beta of .80. What does the beta of the second stock have to be if you want the portfolio risk to equal that of the overall market? (Points : 4)

1.4
1.6
1.8
2.0
2.2

1. (TCO 8) Weak form market efficiency states that the value of a security is based on: (Points : 4)

all public and private information.
historical information only.
all publicly available information.
all publicly available information, plus any data that can be gathered from insider trading.
random information with no clear distinction as to the source of that information.

2. (TCO 5) Royal Petroleum Co. can buy a piece of equipment that can be financed with debt at a cost of 6 percent (after-tax) and common equity at a cost of 18 percent. Assume debt and common equity each represent 50 percent of the firm’s capital structure. What is the weighted average cost of capital? (Points : 4)

between 3 and 9%
exactly 12%
more than 14%
exactly 11%
none of the above

3. (TCO 5, 6 and 7) An issue of common stock is expected to pay a dividend of $4.80 at the end of the year. Its growth rate is equal to eight percent. If the required rate of return is 13 percent, what is its current price? (Points : 4)

$103.68
$36.92
$96.00
none of these

4. (TCO 5, 6 and 7) Which of the following is true regarding the cost of debt? (Points : 4)

It is the return that the firm’s creditors demand on new borrowing.
It is always equal to the weighted cost of capital.
An appropriate method to compute the cost of debt is using the coupon rate of current bonds outstanding.
All of the above are true.

5. (TCO 5) Which of the following is not true regarding the cost of retained earnings? (Points : 4)

it is relevant to the WACC
does not require new funds to be raised
has associated flotation costs
has a cost, which is the opportunity cost associated with stockholder funds

6. (TCO 4) A project has the following cash flows. What is the internal rate of return?

Year

0

1

2

3

Cash flow

-$195,600

$99,800

$87,600

$75,300

(Points : 4)

less than 5%
between 5 and 15%
between 15 and 18%
more than 21%

7. (TCO 5, 6 and 7)  All else constant, the weighted average cost of capital for a firm will decrease if: (Points : 4)

a firm’s bonds start selling at a premium, rather than at a discount.
the market risk premium increases.
the firm replaces some of its debt with preferred stock.
corporate taxes are eliminated.
the dividend yield on the common stock increases.

8. (TCO 5, 6 and 7) The six percent preferred stock of FKH Manufacturing is selling for $62 a share. What is the firm’s cost of preferred stock, if the tax rate is 34 percent and the par value per share is $100? (Points : 4)

5.98%
7.06%
8.05%
9.68%
10.10%

9. (TCO 2) Which one of the following occurs if a firm files for Chapter 7 bankruptcy, but does not generally occur if the firm files for Chapter 11 bankruptcy? (Points : 4)

a petition is filed in federal court
administrative fees are incurred
a list of creditors is compiled
pre-bankruptcy shareholders tend to lose part, if not all, of their investment in the firm
a trustee-in-bankruptcy is elected by the creditors

10. (TCO 5) Which of the following statements is false regarding the cost of capital? (Points : 4)

The cost of capital should consider the flotation costs.
All other being equal, it is preferable to use market value weights than book value weights.
The WACC is the most appropriate discount rate for all projects.
Should include the cost of retained earnings.

11. (TCO 2) Which of the following increases the cash account? (Points : 4)

Goods are sold on credit
An interest payment on a notes payable is made
A payment due is received from a client
Raw materials are purchased and paid for with credit

12. (TCO 2) Which of the following statements is true? (Points : 4)

The optimal credit policy minimizes the total cost of granting credit.
Firms should avoid offering credit at all cost.
An increase in a firm’s average collection period generally indicates that an increased number of customers are taking advantage of the cash discount.
Character, refers to the ability of a firm to meet its credit obligations out its operating cash flows.
The optimal credit policy, is the policy that produces the largest amount of sales for a firm.

13. (TCO 2) All else constant, a decrease in the accounts receivable period will: (Points : 4)

lengthen the accounts payable period.
shorten the inventory period.
lengthen the operating cycle.
shorten the cash cycle.
shorten the accounts payable period.

14. (TCO 2) Delphinia’s has the following estimated quarterly sales for next year. The accounts receivable period is 30 days. What is the expected accounts receivable balance at the end of the second quarter? Assume each month has 30 days.

Q1

Q2

Q3

Q4

Sales

$1,800

$1,700

$2,100

$1,900

(Points : 4)

$567
$600
$821
$1,134
$1,200

15. (TCO 1) Why is maximization of the current value per share a more appropriate financial management goal than profit maximization? (Points : 4)

Because by maximizing the current stock value, you also maximize the company’s profit for the year.
Because this criterion is non-ambiguous.
Because financial managers always act in the best interest of shareholders.
Because it creates short-term gains in the financial statements.

1. (TCO 1) Which one of the following activities best exemplify working capital management? (Points : 4)

Sale long-term bonds to raise funds for a new machine.
Determine the return of a potential project.
Calculate the cash flows for a project.
Manage payments to suppliers.

2. (TCO 1) Book values are different from market values because: (Points : 4)

Book values reflect the value of the asset based on generally-accepted accounting principles.
Book values are used in the company’s balance sheet.
Book values do not reflect the amount someone is willing to pay today for an asset.
All of the above
None of the above

3. (TCO 1) Use the following tax table to answer this question:

Taxable Income

Tax Rate

$0-

$50,000

15%

$50,001-

75,000

25

$75,001-

100,000

34

$100,001-

335,000

39

$335,001-

10,000,000

34

Riddell, Inc. earned $144,320 in taxable income for the year. How much tax does the company owe on this income? (Points : 4)

$39,535
$49,069
$51,285
$56,285
$78,535

4. (TCO 3) Regional Bank offers you an APR of 19 percent compounded semiannually, and Local Bank offers you an EAR of 19.50 percent for a new automobile loan. You should choose ______________ because its _______ is lower. (Points : 4)

Regional Bank, APR
Local Bank, EAR
Regional Bank, EAR
Local Bank, APR

5. (TCO 3) You deposited $8,000 in your bank account today. Which of the following will increase the future value of your deposit, assuming that all interest is reinvested? Assume the interest rate is a positive value. Select all that apply: (Points : 4)

a decrease in the interest rate
increasing the initial amount of your deposit
decreasing the frequency of the interest payments
extending the length of the investment period

6. (TCO 3) You want to have $15,000 for a down payment on a house five years from now. If you can earn 13 percent, compounded annually, on your savings, how much do you need to deposit today to reach your goal? (Points : 4)

$7,858.11
$8,141.40
$9,803.58
$12,464.28
$14,213.25

7. (TCO 3) The new home that you want to buy costs $249,500. You plan to make a cash down payment of 20 percent and finance the balance over 10 years at 6.75 percent. What will be the amount of your monthly mortgage payment? (Points : 4)

$2,291.89
$2,809.10
$3,287.46
$3,412.67
$4,145.68

8. (TCO 3) Which type of loan is comparable to the present value of a future lump sum? (Points : 4)

effective annual rate
amortized
interest-only
annual percentage
pure discount

9. (TCO 3) Fanta Cola has $1,000 par value bonds outstanding at 12 percent interest. The bonds mature in 25 years. What is the current price of the bond if the YTM is 16 percent? Assume annual payments. (Points : 4)

$1315
$1300
$756
$1000

10. (TCO 6) The market where new securities are offered is called the _____ market. (Points : 4)

primary
main
secondary
principal
dealer

11. (TCO 7) Which one of the following statements concerning financial leverage is correct? (Points : 4)

Financial leverage increases profits and decreases losses.
Financial leverage has no effect on a firm’s return on equity.
Financial leverage, refers to the use of common stock.
Financial leverage magnifies both profits and losses.
Increasing financial leverage will always increase the earnings per share.

12. (TCO 3) SmithKline Company’s bonds are currently selling for $1,157.75 per $1000 par-value bond. The bonds have a 10 percent coupon rate and will mature in 10 years. What is the approximate yield to maturity? (Points : 4)

6.96%
7.69%
11.0%
12.1%

13. (TCO 8) Which of the following is true regarding bonds? (Points : 4)

Bonds do not carry default risk.
Bonds are sensitive to changes in the interest rates.
Moody’s and Standard and Poor’s provide information regarding a bond’s interest rate risk.
Municipal bonds are free of default risk.
None of the above is true

14. (TCO 8) Which one of the following bonds is the most sensitive to interest rate movements?  (Points : 4)

zero-coupon, five year
seven percent annual coupon, five year
zero-coupon, 10 year
five percent semi-annual coupon, 10 year
five percent annual coupon, 10 year

15. (TCO 6) A sinking fund is an account managed by a bond trustee for the sole purpose of: (Points : 4)

paying interest payments on a semi-annual basis.
redeeming bonds early.
repaying the face value at maturity.
paying the expenses required to reissue outstanding bonds.
paying the “balloon payment” at maturity.

1. (TCO 6) Which of the following is true regarding put bonds? (Points : 4)

Have coupons that depend on the company’s income
Can be exchanged for a fixed number of shares before maturity only
Can be exchanged for a fixed number of shares before maturity
Allow the holder to require the issuer to buy the bond back

2. (TCO 6 and 7) Financial leverage deals with: (Points : 4)

the relationship of fixed and variable costs.
the percentage of debt in the capital structure.
the entire income statement.
the entire balance sheet.

3. (TCO 6) Company A has a bond outstanding with $90 annual interest payment, a market price of $820, and a maturity date in five years. Assume the par value to be $1,000. What is the bond’s current yield? (Points : 4)

9%
14%
11%
Cannot be determined
None of the above

4. (TCO 2) Which of the following does not reduce collection float? (Points : 4)

installing a lockbox system.
deposit collections weekly, instead of daily.
requiring all customers pay by cash, rather than with check.
utilize the benefits of the Check Clearing Act for the 21stCentury.

5. (TCO 2) ___________, is a system that minimizes inventory. (Points : 4)

material requirements planning
ABC approach
just in time
reorder points

6. (TCO 1) Provide three examples of situations in which business ethics play a role in the financial management process. Explain your rationale, and how these situations may affect the value of the firm. (Points : 10)
7. (TCO 4) What are sunk costs? Provide at least two real-life examples of sunk costs for a project. Should sunk costs be included as incremental cash flows? Why or why not? Explain your rationale. (Points : 10)
8. (TCO 8) What is the difference between systematic and unsystematic risk? Provide one example of each. Can both systematic and unsystematic risks be diversified? Why or why not? (Points : 10)
9. (TCO 2) What are the costs associated with extending (or not extending) a credit policy to customers? (Points : 10)
10. (TCO 6 and 7) Consider the following statement: “In order to maximize value, all firms should maintain a 30/70 debt to equity ratio”. Do you believe this statement is correct? Explain your rationale. (Points : 10)

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1. Question : (TCO 1) The first step to reduce waiting time is to:

2. Question : (TCO 2) Communication turnoffs often occur when employees are ignorant of:

3. Question : (TCO 3) Small companies can compete against larger ones if they offer:

4. Question : (TCO 4) Value arises from a tradeoff between:

5. Question : (TCO 5) To enhance value through goodness of product fit:

6. Question : (TCO 4) If several people are asking the same question, you have:

7. Question : (TCO 5) Intrinsic value arises from:

8. Question : (TCO 5) The best companies to work for:

9. Question : (TCO 5) Customer convenience stems from:

10. Question : (TCO 4) Communication effectiveness is NOT best achieved when the message is:

11. Question : (TCO 9) Excellent organizations are:

12. Question : (TCO 8) Behavior is:

13. Question : (TCO 8) One problem with not seeing the person you are talking to is:

14. Question : (TCO 9) How far from your mouth should the telephone mouthpiece be?

15. Question : (TCO 8) To end a call:

16. Question : (TCO 10) Customer dissatisfaction with a firm’s phone call handling stems from:

17. Question : (TCO 10) Open communication occurs best when:

18. Question : (TCO 10) Feedback is a form of:

19. Question : (TCO 10) Which of the following strategies is NOT a great method of soliciting feedback?

20. Question : (TCO 12) Positive language conveys more of what than negative language?

21. Question : (TCO 12) A good strategy with an angry customer is:

22. Question : (TCO 6) Assertiveness and abrasiveness are:

23. Question : (TCO 11) An average company will lose what percentage of its customers every five years?

24. Question : (TCO 13) Interactivity between businesses and customers:

25. Question : (TCO 13) The fastest growing population in the U.S. today is:

1. Question : (TCO 1, 2) Evaluate the following statement. Your complaining customer is often your least valuable/most valuable customer. Back up your answer with concepts and examples.

2. Question : (TCO 4, 5) Discuss the impact of ignoring e-mails or delaying responses to e-mail from customers in a business setting.

3. Question : (TCO 6, 7) Describe the two personalities a customer will encounter when doing business with an organization, and provide examples of each from your own experience.

4. Question : (TCO 8, 9) Sometimes we walk into a store and we feel like we’re the most important person in the world. Other times, we enter a business, and we might as well be invisible. What are some examples of companies that succeed and companies that fail in engaging their customers? What are your recommendations for improvement for places you do business?

5. Question : (TCO 13) Explain the concept of personalized self-serve solutions and the role of Web content as it relates to a customer’s individual needs.

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(TCO 1) Which object would you use to enter, delete, or modify data?

(TCO 1) Which object would you use to retrieve customers who live in Germany and the United States?

(TCO 1) To design a report you should do all of the following EXCEPT

(TCO 1) Which of the following is NOT a Report Section?

(TCO 1) A Detail line is used to

(TCO 2) For the following image, which of the following is TRUE?

(TCO 2) A symbol used in ER diagrams for an entity is a

(TCO 3) A property that provides a “user friendly” name to a column in Datasheet View is a

(TCO 3) Summarized data in an easy-to-read view is known as a

(TCO 3) Which of the following is NOT true of a property?

(TCO 4) Which of the following does NOT describe the following one-to-one relationship?

(TCO 5) Which form type displays records in a tabular format similar to a Datasheet view but has more editing options such as adding graphics?

(TCO 5) A calculated control

(TCO 6) Which of the following is a term used to describe the names of controls, fields, or properties?

(TCO 6) Data aggregates

(TCO 7) When making vertical data comparisons, you should use the following chart.

(TCO 7) Discrete data

(TCO 8) A switchboard is a

(TCO 9) To secure an Access database, all of the following should be done EXCEPT

(TCO 9) All of the following describe a certification authority EXCEPT

(TCO 10) Which of the following file format types removes all VBA code from the database and prohibits users from making changes to forms and reports?

(TCO 4) The term “cascading” refers to

(TCO 1) Describe three-tier architecture. Explain the functions performed by each tier.

(TCO 2) Explain business logic and describe how it relates to a relational database

(TCO 4) From first normal form, second normal form, or third normal form, select one of these forms and explain (1) how that normal form is often violated by inexperienced database designers and (2) how to correct such a violation of that normal form

(TCO 4) Explain 1NF, 2NF, and 3NF as related to database design

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ACCT 567 Final Exam | DeVry Online Help

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1. (TCO A) On what should the government-wide financial statements report? (Points : 5)

Net position and results of the financial operations of the government as a whole.
Budgetary Compliance
The cost of government services
Fiscal accountability

2. (TCO B) According to GASB standards, when should transfers be recognized? (Points : 5)

When earned.
When collected in cash.
When authorized by the budget ordinance.
In the period the interfund receivable and payable arise.

3. (TCO C) Comparisons of budgeted versus actual revenues and expenditures are a requirement of which of the following situations? (Points : 5)

Required by GAAP for the general fund and major special revenue funds for which an annual budget has been legally adopted.
Required by GAAP for all government fund types.
Required by GAAP for internal management reports only, they are not permitted for external financial reporting.
It is optional under GASB standards for all funds.

4. (TCO D) The revenues account of a government entity is debited when (Points : 5)

the budget is recorded at the beginning of the year.
property taxes are recorded.
the account is closed to fund balance-unassigned at the end of the year.
property taxes are collected.

5. (TCO E) During the year, a wealthy local businessman donated a building to city of Perris. The original cost of the building was $340,000. Accumulated depreciation at the date of the gift amounted to $220,000. The appraised fair market value of the donation at the date of the gift was $525,000 of which $35,000 was the value of the land on which the building was situated. At what amount should the city record this donated property in the governmental activities accounts at the government-wide level? (Points : 5)

$220,000.
$120,000.
$340,000.
$525,000.

6. (TCO E) Which of the following resource inflows would be recorded as a revenue of a debt service fund? (Points : 5)

Receipt of the premium on a new bond issue.
Property taxes levied by the debt service fund for debt service purposes.
Taxes collected by the General Fund and transferred to the debt service fund.
Transfer of the residual equity of a capital projects fund to the debt service fund.

7. (TCO G) Which of the statements concerning agency funds is a true statement? (Points : 5)

Agency funds use the same basis of accounting as permanent funds.
Agency funds are reported only on the statement of fiduciary net position.
Agency funds use the temporary accounts—Additions and Deductions.
Agency funds never receive cash.

8. (TCO J) Which of the following items are typically reported differently between the governmental fund statements and the governmental activities column of the government-wide statements? (Points : 5)

Inventories
Cash collected on property taxes receivable
Capital outlays
Accounts Payable and other accrued expenses

9. (TCO H) A condition whereby the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions, to prevent or detect and correct misstatements on a timely basis is called a(an) (Points : 5)

system design weakness.
deficiency.
unacceptable reportable condition.
audit alert item.

10. (TCO H) Under FASB Standards, how would a not-for-profit organization recognize a conditional pledge? (Points : 5)

It would disclose the amount of the conditional pledge in the notes to the financial statements.
It would debit Pledges Receivable and credit Deferred Contributions.
It would debit Pledges Receivable and credit Contributions—Temporarily Restricted.
It would not recognize the conditional pledge until pledge conditions are substantially met.

11. (TCO I) Which of the following items would not affect the amounts reported in the Revenues and Gains section of the statement of activities for a private college or university? (Points : 5)

Student tuition and fees
Net assets released from restriction
Tuition and fees discounts and allowances
Deferred revenues

12. (TCO I) The primary source of revenues for most hospitals are (Points : 5)

investment income.
capitation fees from health maintenance organizations.
exchange transactions, such as fees for services.
nonexchange transactions, such as contributions.

1. (TCOs D, E, F, and G) Please list the name of the fund(s) in which each of the following transactions or events would be recorded

2. (TCO F) The garbage collection of the city of Rockwell could be accounted for through the General Fund, a Special Revenue Fund, or an Enterprise Fund. Please identify the circumstances in which each of these fund types might be appropriate. (Points : 40)

3. (TCO I) During the fiscal year of June 2012, Jefferson General Hospital, a not-for-profit healthcare organization, had the following revenue-related transactions. (The amounts are summarized for the entire year.)

4. (TCO E) Enter the template provided in the answer space and record the following transactions in the Capital Projects Fund in the general journal for the following transactions.

5. (TCO F) The following Statement of Cash Receipts and Disbursements was prepared by the bookkeeper of the City of Glass City Museum of Science. The museum is a component unit of the City of Glass City and must be included in the city’s financial statements. It began operations on January 1, 2012 with no liabilities or commitments and only two assets.

(1) $6,000 in cash and (2) Land that was acquired for $11,000

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1. (TCO A) There are ten generally accepted auditing standards, divided into three categories. What are the standards of reporting?

2. (TCO A) Distinguish between generally accepted auditing standards (GAAS) and generally accepted accounting principles (GAAP). What professional organization establishes GAAS? What professional organization establishes GAAP?

3. (TCO B) Assume you are the partner in charge of the audit of Franklin Corporation’s 2002 financial statements. The audit report has not yet been prepared. In each independent situation following, indicate the appropriate opinion you should issue and why you would issue that opinion.

4. (TCO C) State whether there is any violation of the AICPA Code of Professional Conduct, and the nature of the violation. Where there is a violation, evaluate the potential legal liability the accountant may face. Justify your position.

5. (TCO D) Discuss at least five of the actions that can be taken by individual CPAs, to protect themselves from legal liability

6. (TCO E) Bobby Thigpen, waiter at Relief Stop, has been taking cash from the restaurant. Thigpen prepares a customer’s check from which the customer pays. Thigpen then destroys the check, and prepares a new one with different items of lower cost. He presents the new check and indicated amount on the check to the cashier, and saves the excess cash for himself. Question: Formulate three internal control features that the restaurant could implement, to eliminate this defalcation.

7. (TCO G) Three types of legal documents and records that auditors examine in the planning phase of an audit are the corporate charter and bylaws, corporate minutes of meetings of the board of directors and stockholders, and contracts. Discuss the audit-relevant information contained in each of these three types of documents that an auditor should be aware of early in the audit

1. (TCO F) What are specific audit objectives? Explain their relationship to the general audit objectives.

2. (TCO H) Explain why it is necessary to allocate the preliminary judgment about materiality to individual accounts (segments) in the financial statements. Also explain why allocating to balance sheet accounts is more common than allocating to income statement accounts

3. (TCO I) For each of the following potential misstatements, provide one potential audit test that could be used to detect the misstatement

4. (TCO I) Describe how the auditor tests the classification objective for accounts receivable. (Points: 25)

The classification objective is tested by reviewing the aged trial balance for material receivables from affiliates, officers, directors, or other related parties. If notes receivable or accounts that should not be classified as a current asset are included with the regular accounts, these should also be segregated. Finally, if credit balances in accounts receivable are significant, it is appropriate to reclassify them as accounts payable

5. (TCO I) The design of tests of details of balances for inventory is affected by audit results from multiple cycles. Identify the cycles, other than the inventory and warehousing cycle, that affect the audit of inventory

6. (TCO J) Describe three computer auditing techniques available to the auditor

7. (TCO K) Match seven of the terms (a-p) with the description/definitions provided below (1-7):

 
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