Objective Type Costing Questions

Objective Type Costing Questions 

1. Which one of the following does not appear on the  balance sheet of a manufacturing company?

  • Raw materials inventory
  • Finished goods inventory
  • Work in process inventory
  • Cost of goods manufacture

2. Cost of goods manufactured is calculated as follows:

  • Beginning WIP + direct materials used + direct labor + manufacturing overhead + ending WIP.
  • Direct materials used + direct labor + manufacturing overhead – beginning WIP + ending WIP.
  • Beginning WIP + direct materials used + direct labor + manufacturing overhead – ending WIP.
  • Direct materials used + direct labor + manufacturing overhead – ending WIP – beginning WIP.

3. Which one of the following is an example of a period cost?

  • A change in benefits for the union workers who work in the New York plant of a Fortune 1000 manufacturer
  • Workers’ compensation insurance on factory workers’ wages allocated to the factory
  • A box cost associated with computers
  • A manager’s salary for work that is done in the corporate head office

Objective Type Business Questions

Loan payment schedule of a 1-year, fixed-size ...

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Objective Type Business Questions

1. The amount of money borrowed or invested is called the maturity value.
True
False

2. When solving a simple interest problem, the rate should be written as a decimal number.
True
False

3. The interest paid on a $10,000.00 loan for 2 years at 13.5% interest is $1,250.00.
True
False

4. The formula to find the rate is interest divided by (principal times time).
True
False

5. 8% for 45 days is equal to 0.01.
True
False

Financial Management Questions

You have been giving the financial statements asked to analyze the financial performance of your division. Other managers have suggested you use financial ratios in your analysis.

1. what are financial ratios?

2. which ratios might you use in your analysis?

3. List them and explain what information they provide.

4. How would you use them to make managerial decisions?

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Annuities and Sinking Funds Related Questions

 Annuities and Sinking Funds Related Questions for $4 OnlyAnnuities and Sinking Funds Related Questions

1. $111,834 is the amount of an ordinary ammunity of $6,000 for 4 years at 8% compounded quarterly.
True
False

2. The monthly payment of rent is an example of a renter’s annuity.
True
False

3. A contingent annuity has a specific number of payment periods. (Points: 2)
True
False

4. An annuity with payments made at the end of each period is called an ordinary annuity.
True
False

5. With an annuity due no interest is paid in the first period.
True
False

6. The amount of an $8,000.00, 10%, 5 year ordinary annuity compounded semiannually is $100,624.
True
False

7. The amount of interest on an ordinary annuity of $11,600.00 for 5 years at 8% compounded semiannually is $32,269.00.
True
False

8. The maturity value of a transaction is equal to the principal plus the rate.
True
False

9. The deposits or payments are made at the end of the period in ordinary annuities.
True
False

10. John owns five health food stores in the Columbia area, and they are realizing a good profit.  John decides to invest a portion of the profits in an annuity offered by Penn Life Insurance.  Penn Life will guarantee John 8% interest compounded quarterly for the first 5 years, as long as he deposits $10,000.00 every quarter of the term of the guaranteed rate.  Assuming John fulfills the obligations of the investment, what will be the value of the investment at the end of the 5 year term?
$261,832.74
$245,446.58
$242,970.00
$255,446.40
none of the above

11. The sum of the payments of an annuity plus the interest is called the:
economic sum
amount of the annuity
financial total
payoff amount
none of the above

12. An annuity without a specific number of payment periods is termed a(n):
non-standard annuity
annual annuity
annuity certain
contingent annuity
none of the above

13. Nancy plays drums in a dance band on weekends in addition to her full-time job at the local junior college.  Nancy decided on her 35th birthday to establish her own retirement savings account by investing $2,400.00 of her weekend earnings every six months into an ordinary annuity paying 12% interest compounded semiannually.  If Nancy makes these regular deposits until her 65th birthday, how much will this retirement account be worth?
$1,297,503.10
$1,281,903.10
$1,297,503.01
$1,279,507.20
none of the above

14. Derek established his own retirement account ten years ago.  He has discovered that he can obtain a better rate for the next 10 years at 12% interest compounded semiannually.  Consequently, Derek established a new ordinary annuity account (beginning amount $0.00) and he will contribute $7,000.00 semiannually into the account for the next 10 years.  What will be the value of this account at the end of the 10 year period?
$244,707.61
$83,652.59
$264,501.86
$257,502.00
none of the above

15. The amount of interest on an ordinary annuity of $11,600.00 for 5 years at 8% compounded semiannually is:
$139,269.60
$23,296.60
$116,000.00
$23,269.60
None of the above

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Calculate Book Value Per Share

Calculate Book Value Per Share

Calculate the book value per share based on the reported stockholders’ equity account for Bridgford Foods in fiscal year ending November 2, 2005.

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Crab State Bank: Loan Amortization Schedule

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Crab State Bank: Loan Amortization Schedule

Crab State Bank has offered you a $1,000,000 5-year loan at an interest rate of 11.25 percent, requiring equal annual end-of-year payments that include both principal and interest on the unpaid balance. Develop an amortization schedule for this loan.

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Essay Type Questions on American History

United States Capitol in daylight

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Essay Type Questions on American History

Here is the possible essay questions for your Midterm.  I will choose two of these four essays.

1. Explain, in detail, Alexander Hamilton’s Financial Plan? From the first and Second Reports to Congress, to the Report on Manufacturers.

2. Explain how the economies and social structures of New England, the Chesapeake and middle colonies differed from one another?

3. What was significant about the election of 1800? How did Jefferson’s political ideology and actions differ from those of his predecessors in matters of finance, foreign policy and the role of the federal government.

4. Explain in detail the difference between Spanish, French and English colonization.  What was the demographic of the colonist, what were the motives of each, and how did they interact with the native populations.

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Simple Statistics Definitions

Simple Statistics Definitions

Answer and provide explanation of the definitions listed below:

  1. F distribution
  2. F statistic
  3. chi-square distribution
  4. t distribution
  5. dependent samples
  6. independent samples
  7. degrees of freedom
  8. t statistic
  9. paired difference

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Statistics Questions

  1. A health magazine presented results of a recent study that analyzed data collected by the U.S. Census Bureau in 2000.  Results reveal that for both men and women in the U.S., heart disease remains the number on killer, victimizing 500,000 people annually.  Age, obesity, and inactivity all contribute to heart disease, and all three of these factors vary considerably from one location to the next.  The highest mortality rates (death per 100,000 people) were reported in New York, Florida, Oklahoma, And Arkansas, whereas the lowest were reported in Alaska, Utah, Colorado, and New Mexico
  • What is the population?
  • What is the sample:
  • Is the study descriptive or inferential In nature? Explain briefy
  • Is the study observational or experimental?  Explain  briefyly
  • What are the variables?
  • What level of measurement was used to obtain data from the variables?
  • Classify all the variables of the study as either attribute or numerical
  • What parameter best characterizes the risk for each member of the population?

2.   Identify each of the following as examples of nominal, ordinal, discrete, or continuous variables:

  • A poll of registered voters in Florida asking which candidate they support:
  • The length of time required for a wound to heal when using a new medicine:
  • The number of telephone calls arriving at a switchboard per five-minute period:
  • The distance first-year college football players can kick a ball:
  • The number of pages in a book:
  • The rankings of employees on their job performance:

3.   Describe the four levels of measurement:

  • Nominal:
  • Ordinal:
  • Interval:
  • Ratio:

4. Construct a frequency distribution table to organize the following set of quiz scores:

3    5    4          6          2          3          4          1          4          3          7          7          3

4   5     8          3          2          4          7          10

5. Construct a grouped frequency distribution for the following 28 scores using a class width of 5.

23        20        18        22        12        14        21        23        16        21        22

21        16        18        27        30        17        24        21        27        19        29]

25        23        28        24        19        18

6.  Identify the sampling technique used to obtain a sample in each of the following.  Explain why you chose the sampling technique you did for each

  • Everry 20th washing machine coming off an assembly line is checked for defects:
  • District supervisors are selected using random number in order to determine annual salaries:
  • Students at a local university are classified according to their major.  Then a random sample of 20 students from each major is selected:
  • The first 40 people entering a supermarket are asked their opinion on the price of cooking oil:
  • A state is divided into regions using zip codes.  A random sample of 30 zip code areas is selected:

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