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What President kicked off Era of Good Feelings?Prosco Ltd. employs a process cost system. Inspection of units occurs at the 50 percent mark. Defective units are then removed from the process, and their cost ($4.50) is absorbed by the good units. Prosco has recently been approached by a firm wishing to buy the defective units for a special use. The firm would require Prosco to modify the defective units at a unit cost of $2.00. If Prosco sells the defective units to the firm for $5.00 each, how would Prosco's reported income be affected?A)It would decrease by $4.50 per unit sold.B)It would increase by $3.00 per unit sold.C)It would decrease by $1.50 per unit sold.D) It would increase by $5.00 per unit soldAll of the following can be considered in the evaluation of a business unit EXCEPTA) the cost of materials used in the production processB)wages paid to laborC)projected annual revenues of competitors D)the price at which goods produced are soldA new local Super Store publicly announced that when more than three people are standing in line at cash registers,additional checkout-lines will be opened. After the announcement, customers quickly noticed that the additional lines were not opened until six or seven people were standing in line. This indicates a gap betweenA) management perception of customer expectation and service quality specifications B)actual service delivery and how service quality was communicated C)customer expectation and management perception of customer expectation D)customer expectation and internal management communicationWave Inc. is a telecommunications company that wants to become involved in e-commerce. It has to decide whether to develop a business-to-business or business-to-consumer strategy. As Wave's strategic planner, you have been asked to develop a business plan for each opportunity and present these to senior management. The answer to which of the following questions is most important to know before starting your plan?A)What are the company's core competencies?B)What is the potential market size?C)What is the impact on the estimated revenue?D)Does the company have e-commerce capabilities?After an extensive recruitment process to select well-qualified individuals, a large percent of a company's new hires resigned within the first month of the job. Which of the following is the most likely explanation for this situation?A)The health benefits provided by the company were not competitive with those of the rest of the industry. B)The starting salary for the new hires was not competitive with that of the rest of the industry. C)The training process to prepare the new hires for their assigned tasks was inadequate.D)The new hires lacked the basic skills required to learn the job.Increased globalization and technological change, particularly in telecommunications, enable more organizations to adopt which of the following organizational structures?A)FunctionalB)MatrixC)MechanisticD)NetworkPriceless Treasures is an antique jewelry retailer. Priceless Treasures' owner, Sally Thornton, wishes to replace theprinted catalog with an online catalog.Ms. Thornton decides to conduct a market research project to explore how Priceless Treasures' target customers would respond to the online catalog approach.32. From data collected by the retail jewelers' trade association, Ms. Thornton learns that sales of antique jewelry are rising and that the most common purchasers are older, upper-income couples. Though initially reluctant to purchase online, these customers are beginning to overcome their concerns. From United States Census Bureau data, she learns that this population segment is growing in number and will continue to do so throughout the next two decades. At this point what should Ms. Thornton do?(A) Summarize the research findings and recommend implementing the online catalog as the firm's market is clearly growing.(B) Collect primary data to determine whether these trends and preferences are reflected in Priceless Treasures' customer base.(C) Collect primary data on competitors to determine whether the online market for antique jewelry is saturated.(D) End the study and retain the current system as the major customer segment is clearly skeptical of online retailers.33. Ms. Thornton plans to conduct an online survey of her customers. What is the most significant problem with using this survey method rather than a traditional mail approach?(A) Respondents may not answer the survey truthfully.(B) Customers who do not use the Internet will not be in the sample.(C) Respondents will not be able to see the entire survey and thus may answer only part of it.(D) Online surveys cannot prevent multiple or inappropriate responses to complex questions.In a large firm, the pool of applicants for the positions of sales manager and sales associate consists of three men and three women. If each candidate has an equal chance of being selected, what is the probability that both positions will be filled by men?(A) 0.20(B) 0.25(C) 0.33(D) 0.50to increase its surface area; glycogen needs to be broken down quicker in animals as they have a higher metabolic ratethere is a 1-4 glycosidic bond between the two monosaccharides in sucrose which means that it does not have any reducing power to reduce Cu2+ ion into Cu2Oa reducing sugar is any sugar that can act as a reducing agent, a non-reducing sugar cannot reduce other speciesthe building up of smaller molecules into larger ones with the elimination of a water molecule e.g two amino acids condense to form a peptide bondAll of the following are true regarding a seller's rights to reduce legal liability in the sale of non consumer goods EXCEPT:(A) The seller can disclaim consequential damages if it is done clearly and conspicuously.(B) The seller can limit the remedy available to the buyer if he or she does so clearly and fairly.(C) The seller can place reasonable conditions on the warranty coverage and a shorter time limit of warranty coverage.(D) The seller can disclaim all implied warranties by simply stating that there are no implied warranties.In a period of rising prices, which inventory valuation method would generally yield both the lowest ending inventory value and the lowest net income figure?(A) First in, first out (FIFO)(B) Last in, first out (LIFO)(C) Weighted average(D) Standard costBased on his scientific management theory, Frederick Taylor developed what pay principle?(A) Hourly pay(B) Incentive pay(C) Profit sharing(D) Monthly salary with bonusGreen desires to form a new company to manufacture lawn mowers. Green is concerned about having his personal assets exposed to liability for the new company's contracts and torts. Furthermore, he wants to retain control over the company's operations and growth for the next few years. He will need an infusion of equity capital to begin operations. He hopes to take the company public in about five years if it is advantageous to do so at the time. Which of the following types of business associations would be best for Green's new company?(A) Corporation(B) General partnership(C) Limited partnership(D) Member-managed limited-liability companyA department manager telephoned two managers in other departments to discuss a cost savings idea that would benefit their departments as well as her own. Which of the following most accurately defines the communication channel that the manager was using?(A) Upward(B) Lateral(C) Downward(D) HierarchicalThe central processing unit (CPU) in a personal computer contains the(A) control unit and primary memory(B) control unit and arithmetic/logic unit(C) arithmetic/logic unit and bus(D) arithmetic/logic unit only
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