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#### BUS 475 Week 4 Knowledge Check Assignment

2015-08-01 05:15:03

1. A fast-food restaurant asks customers to evaluate the drive-thru service as good, average, or poor. What level of data measurement is this classification?

• Nominal
• Ordinal
• Interval
• Ratio

2. In order to determine the average amount spent in November on Amazon.com a random sample of 144 Amazon accounts were selected. The sample mean amount spent in November was \$250 with a standard deviation of \$25. Assuming that the population standard deviation is unknown, what is a 95% confidence interval for the population mean amount spent on Amazon.com in November?

• (\$245.88, \$254.12)
• (\$247.47, \$260.09)
• (\$250.64, \$256.92)
• (\$251.34, \$256.22)

Complete Answers here BUS 475 Week 4 Knowledge Check

3. A shipment of 20 DVDs has arrived at a video rental store. Based on past experience, the manager knows that 10% of all new DVDs sent to the store have a visible defect. The manager tells you to begin inspecting the new DVDs one at a time at random until you find the first DVD that has a defect. If 10% of the DVDs have a visible defect in the new shipment, what is the probability that the first DVD that has a defect is the 3rd one that you inspect? (Round your answer to 3 decimal places.)

• .081
• .268
• .089
• .716

4. An insurance agent has selected a sample of drivers that she insures whose ages are in the range from 16–42 years old. For each driver, she records the age of the driver and the dollar amount of claims that the driver filed in the previous 12 months. A scatterplot showing the dollar amount of claims as the response variable and the age as the predictor shows a linear regression line with: y^=3710 – 55.4x. If the age of a driver increases by 1 year, by how much and in what direction would the dollar amount of claims be predicted to change for the driver?

• Increase by 55.4 dollars
• Decrease by 55.4 dollars
• Increase by 3710 dollars
• Increase by 3,654.6 dollars

5. A researcher claims that the proportion of employees who play video games in the workplace is higher than it was 10 years ago. You might be willing to reject the null hypothesis of no change with a = 0.10 or larger. The p-value for this test is 0.15. In this case the researcher should

• not reject the null hypothesis
• reject the null hypothesis
• continue with further testing because the result is inconclusive
• change the testing from nonparametric to parametric

6. The general plan of major actions through which a firm intends to achieve is long-term objectives is called its

• corporate plan
• long-term goal
• grand strategy
• mission

7. How valuable a low-cost leader's cost advantage is depends on

• whether it is easy or inexpensive for rivals to copy the low-cost leader's methods or otherwise match its low costs
• how easy it is for the low-cost leader to gain the biggest market share
• the aggressiveness with which the low-cost leader pursues converting the cost advantage into the absolute lowest possible costs
• the leader's ability to combine the cost advantage with a reputation for good quality

8. Which of the following represent marketing capabilities at the growth stage of industry evolution?

• Skills in aggressively promoting products to new markets and holding existing markets and pricing flexibility
• Ability to establish brand recognition, find niche, reduce price, solidity strong distribution relations and develop new channels
• Cost effective means of efficient access to selected channels and markets and strong customer loyalty or dependence
• Resources or skills to create widespread awareness and find acceptance from customers; advantageous access to distribution

9. __________ is an organization structured around the idea of sharing knowledge, seeking knowledge, and creating opportunities to create new knowledge.

• A global company
• A modular organization
• An ambidextrous organization
• A learning organization

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10. Which of the following types of strategic control has a low degree of formalization?

• Special alert control
• Implementation control
• Strategic surveillance
• Premise control

11. Investors and creditors are particularly interested in this financial statement because it tells them what is happening to the company’s most important resource?

• Statement of cash flows
• Income statement
• Retained earnings statement
• Balance sheet

12. The cash basis of accounting is prohibited under GAAP for the following reason:

• It divides the economic life of a business into artificial time frames.
• It violates the revenue recognition principle and the expense recognition principle.
• It fails to provide for adjusting entries.
• It records revenues only in the time period in which they are received.

13. Use the following data to determine the total dollar amount of assets to be classified as property, plant, and equipment. Eddy Auto Supplies Balance Sheet December 31, 2014 Cash \$84,000 Accounts payable \$110,000 Accounts receivable \$80,000 Salaries and wages payable \$20,000 Inventory \$140,000 Mortgage payable \$180,000 Prepaid insurance \$60,000 Total liabilities \$310,000 Stock investments \$170,000 Land \$190,000 Buildings \$226,000 Common stock \$240,000 Less: Accumulated Retained earnings \$500,000 depreciation (\$40,000) \$186,000 Total stockholders’ equity \$740,000 Trademarks \$140,000 Total liabilities and Total assets \$1,050,000 Stockholders’ equity \$1,050,000

• \$686,000
• \$516,000
• \$556,000
• \$376,000

14. The manager of Weiser is given a bonus based on net income before taxes. The net income after taxes is \$35,700 for FIFO and \$29,400 for LIFO. The tax rate is 30%. The bonus rate is 20%. How much higher is the manager's bonus if FIFO is adopted instead of LIFO?

• \$9,000
• \$12,600
• \$1,800
• \$6,300

15. The Sarbanes–Oxley Act of 2002 requires publicly traded U.S. companies to take the following actions to defect and prevent fraud:

• Adopt accrual basis of accounting, maintain an adequate system of internal controls, and create penalties for noncompliance
• Maintain an adequate system of internal controls, ensure that internal controls are reliable and effective, and hire independent auditors to attest adequacy of internal controls
• Ensure internal controls are reliable and effective, corporate executives must independently review internal controls, and submit all financial statements to the Public Company Accounting Oversight Board
• Maintain an adequate system of internal controls, provide additional training to managers and accountants regarding internal controls, and publish internal controls on the company’s public website

16. On July 1, 2014, Linden Company purchased the copyright to Norman Computer Tutorials for \$140,000. It is estimated that the copyright will have a useful life of 5 years. The amount of amortization expense recognized for the year 2014 would be

• \$28,000
• \$13,125
• \$25,900
• \$14,000

17.ABC Corp. receives a 7-month interest-bearing promissory note in the amount of \$360,000 on February 1. The interest rate is 15%. What is the total interest expense ABC Corp will record assuming ABC makes all of its payments?

• \$54,000
• \$31,500
• \$4,500
• \$36,000

18. Logan Corporation issues 50,000 shares of \$50 par value preferred stock for cash at \$60 per share. The entry to record the transaction will consist of a debit to cash for \$3,000,000 and a credit or credits to

• preferred stock of \$3,000,000
• preferred stock for \$2,500,000 and paid-in capital in excess of par value—preferred stock for \$500,000
• preferred stock for \$2,500,000 and retained earnings for \$500,000
• paid-in capital from preferred stock for \$3,000,000

19. Which of the following tools of analysis is used to evaluate financial statement information by expressing financial statement data as a percentage over a base amount?

• Vertical analysis
• Horizontal analysis
• Ratio analysis
• Industry averages

20.The Sarbanes–Oxley Act of 2002 requires publically-traded U.S. companies to provide great internal controls. The five primary components of an internal control system include: a control environment, risk assessment, information and communication, monitoring, and

• Establishment of responsibility
• Segregation of duties
• Control activities
• Human resource controls

This article covers the topic for the University Of Phoenix BUS 475 Week 4 Knowledge Check . The author is working in the field of education from last 5 years. This article covers the basic of BUS 475 Week 4 Knowledge Check Assignment from UOP. Other topics in the class are as follows:

### BUS 475 Week 2 Knowledge Check

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#### BUS 475 Week 2 Knowledge Check Assignment

2015-08-01 05:12:31

1. Compared with other approaches to business, the marketing concept is distinct in that it

• focuses on sales
• produces new products and services
• creates a broad assortment of products
• focuses on satisfying customers' needs

2. A company provides its advertising agency with a statement about a new product to use in designing an advertising campaign, and this statement includes a description of the target market, the product type, the primary benefits of using the product, and how this product is different from, and better than, competitive products. What type of statement is this?

• Qualifying
• Positioning
• Determining
• Clustering

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3. The sales analysis of a product revealed that profits were highest when it was initially introduced into the market with a high selling price. However, the price was gradually reduced as it started facing competition as substitutes entered the market. This is an example of a(n)

• introductory price dealing
• temporary price cut policy
• skimming price policy
• penetration price policy

4. Blending the firm's promotion efforts to convey a complete and consistent message is the goal of

• sales management communications
• sales promotion communications
• integrated promotional marketing
• integrated marketing communications

5. According to the concept of social responsibility, a firm has a duty to

• communicate regularly with the public
• place profit above all other considerations
• place customer satisfaction above all other considerations
• conduct business in a way that is good for society as a whole, both now and for the future

6. The principal participants in the financial markets are

• businesses, banks, and government
• borrowers, savers, and financial institutions
• mutual funds, hedge funds, and investment bankers
• dealers, brokers, and regulators

7. You just purchased a parcel of land for \$10,000. If you expect a 12% annual rate of return on your investment, how much will you sell the land for in 10 years? Note. Due to rounding and method of calculation, your answer might vary slightly. Choose the closest answer.

• \$25,000
• \$31,060
• \$38,720
• \$34,310

8. Bull Gator Industries is considering a new assembly line costing \$6,000,000. The assembly line will be fully depreciated by the simplified straight line method over its 5-year depreciable life. Operating costs of the new machine are expected to be \$1,100,000 per year. The existing assembly line has 5 years remaining before it will be fully depreciated and has a book value of \$3,000,000. If sold today the company would receive \$2,400,000 for the existing machine. Annual operating costs on the existing machine are \$2,100,000 per year. Bull Gator is in the 46 percent marginal tax bracket and has a required rate of return of 12 percent. Calculate the net present value of replacing the existing machine. Note. Due to rounding and method of calculation, your answer might vary slightly. Choose the closest answer.

• \$816,000
• \$382,320
• \$2,941,680
• \$-382,320

9. A strong stock market and reasonably good earnings have caused the price of the firm's common stock to increase by 25%.

• This will have no effect on the firm's cost of capital.
• All things equal, this will increase the firm’s cost of capital.
• All things equal, this will lower the firm's cost of capital.
• This will only affect the cost of capital if the firm uses CAPM to compute the cost of equity.

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10. Buying and selling in more than one market to make a riskless profit is called

• profit maximization
• arbitrage
• This cannot be determined from the above information.

11. The United States imposes substantial taxes on cigarettes but not on loose tobacco. When the tax on cigarettes went into effect, the demand for home cigarette rolling machines most likely

• decreased, causing the price of cigarette rolling machines to fall and the quantity of machines purchased to fall
• decreased, causing the price of cigarette rolling machines to rise and the quantity of machines purchased to fall
• increased, causing the price of cigarette rolling machines to rise and the quantity of machines purchased to rise
• increased, causing the price of cigarette rolling machines to rise and the quantity of machines purchased to fall

12. Keynes believed that an increase in savings would

• raise aggregate demand by reducing investment
• raise aggregate demand by increasing consumption
• reduce aggregate demand by reducing investment
• reduce aggregate demand by reducing consumption

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13. Which of the following monetary policies reduces aggregate demand and output?

• cut in the federal funds rate
• An open market purchase of government securities
• An increase in the discount rate
• A cut in the required reserve ratio

14. Deficits may be desirable in the short run if they

• help to stabilize the economy when the economy falls below potential output
• increase savings necessary for future investment and growth
• increase savings necessary for future consumption and demand
• help to stabilize the economy when the economy is above potential output

15. If for a country, the quantity of its currency demanded exceeds the quantity supplied, then there is a

• balance of payments surplus
• balance of payments deficit
• balance of payments equilibrium

16. Suppose that college tuition is higher this year than last year and that more students are enrolled in college this year than last year. Based on this information, we can best conclude that

• the law of demand is invalid
• despite the increase in price, quantity demanded rose due to some other factor changing
• this situation has nothing to do with the law of demand
• the demand for a college education is positively sloped

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17. Economic efficiency is achieved at a particular output level if

• marginal cost is as low as possible
• average fixed cost is as low as possible
• average total cost is as low as possible
• average variable cost is as low as possible

18. A perfectly competitive firm will be profitable if price at the profit-maximizing quantity is above

• MC
• AVC
• ATC
• AFC

19. How are goods manufactured in other countries creating jobs in the United States?

• People whose jobs were outsourced are now discouraged workers.
• U.S. firms are specializing in managing the trade of these goods.
• Foreign countries are importing U.S. natural resources
• People who have lost jobs have more time to shop and therefore increase demand for goods.

This article covers the topic for the University Of Phoenix BUS 475 Week 2 Knowledge Check . The author is working in the field of education from last 5 years. This article covers the basic of BUS 475 Week 2 Knowledge Check Assignment from UOP. Other topics in the class are as follows:

### BUS 475 Week 4 Knowledge Check

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#### BUS 475 Week 1 Knowledge Check Assignment

2015-08-01 05:03:45

1. Reaching a valid decision is based on the evaluation of arguments. If we know that a valid argument has true premises, then a decision based on the argument______________.

• must be sound
• might be sound
• is strong
• might have a false conclusion

2. Identify the fallacy in the following piano store advertisement: “Pianos are our only business. You’ll get the best deal at the Piano Experts.”

• Straw man
• Hasty generalization
• Red herring

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3. Which of the following statements describes creativity correctly?

• Only highly intelligent people are capable of generating creative ideas.
• Creative people are born with the trait.
• Anyone can become more creative.
• Children are more creative than adults.

4. How would you assess the following statement? Consider both the nature of the claim and the source. “Lottery director Mark Michalko said Thursday that allegations that Californians are squandering money they once used for food to buy lottery tickets âare just not correct.’. . . California Grocers Association president Don Beaver raised the issue earlier in the week, saying five supermarket chains had complained that grocery sales dropped about 5 percent after lottery tickets went on sale October 3.” —Sacramento Bee

• Probably true
• Probably false
• Requiring further documentation
• Claim that cannot be properly evaluated

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5. The Sarbanes–Oxley Act was created in 2002 to improve and maintain investor confidence. The act includes which of the following:

• senior managers sign off on financial results
• privately held companies must report to the public
• officers are exempt if they were not aware of a misrepresentation
• company insiders may compose the entire Board of Directors

6. Organizational behavior is examined at three main levels.

• Traits, behaviors, and results
• Affective, cognitive, and behavioral
• Individual, organizational, and societal
• Individual, group, and organizational

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7. Employees who have intrinsic work values will be motivated by

• challenging assignments
• status in the workplace
• social contacts
• financial rewards

8. Research on the five-stage model of group development shows that

• all groups pass through the norming stage
• groups always pass through the stages in order
• not all groups go through each of the stages
• all groups pass through the adjourning stage

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9.The extent to which a leader actually does help a group or organization to achieve its goals is best described as

• organizational profitability

10. When the business environment is __________, an organization is most likely to decentralize authority and empower its employees to make operating decisions.

• stable
• uncertain
• unknown
• transparent

11. To make your communication more effective

• include as much information as possible, even if you are not sure it is necessary
• send the same messages by multiple channels
• clearly address your audience's wants and needs, not yours
• draw pictures and animations your audience will understand

12.Which of the following meeting technologies would be most effective for negotiations, collaborative problem solving, and other complex discussions?

• Telepresence
• Instant messaging
• Teleconference
• Telephone

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13.Most persuasive messages combine

• many major points all at once
• logical and emotional factors
• truth and falsehood
• current and very old evidence

14. Important design elements to consider when creating slides include which of the following:

• word selection
• selecting background designs
• selecting a theme
• writing content

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15. Which of the following would be the best wording to use on a resume?

• "I was in charge of a staff of six employees."
• "I supervised a full staff of six employees."
• "Was in charge of entire departmental staff."
• "Supervised staff of six employees."

16. The __________ approach to ethics maintains that an ethical action is the one that provides the most good or does the least harm.

• utilitarian approach
• rights approach
• fairness approach
• common good approach

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17. Which type of privacy policy restricts an organization from collecting personal information until the customer specifically authorizes it?

• Opt-out model
• Opt-in model
• Electronic surveillance
• Profiling

18.Wireless communication includes which of the following:

• Bluetooth
• coaxial connections
• traditional land lines
• lighting connections

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19. Enterprise resource planning applications seeks to integrate a number of issues, including which of the following:

• vacation schedules
• tenure of the staff
• production and inventory levels
• turnover rate of the project staff

20. The request for proposal (RFP) is one of the key tools in acquiring information systems and applications. Which of the following statements best characterizes the RFP?

• The RFP must always be used.
• It is prepared by the vendor.
• It always identifies the price.
• It defines the scope of the project.

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21. The relationship between jurisdiction and venue of state and federal courts

• often causes delays in case resolution
• causes development of conflicting rules in similar disputes
• is determined by the U.S. Attorney General
• is well-defined by statute and case law

22.Businesses owe customers (business invitees) visiting their stores

• no duty of care, the customer assumes the risk of injury
• a warning of known risks, only
• a duty to inspect for and warn of risks
• a duty to repair hidden risks only where children are involved

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23.A legally enforceable contract always requires

• a written document
• signatures of all parties
• a heading saying “Contract” or “Agreement”
• a manifest intent to be bound by the parties

24. Regulatory (or administrative) law arises from

• court decisions
• enabling statutes
• attorney general opinions
• policy documents prepared by nongovernmental organizations

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25. The purpose of a clear ethical code in a business is

• to draw on employees religious background
• to encourage philosophical debate among employees
• to regulate employees’ private conduct
• to manage values and conflicts among them