ASAHI INDIA GLASS LTD ANNOUNCES UNAUDITED FINANCIAL RESULTS FOR THE FIRST QUARTER ENDED 30TH JUNE, 2017        
by Shrutee K/DNS

New Delhi – AIS (Asahi India Glass Ltd.), India’s leading integrated glass Company announced its unaudited financial results for the first quarter ended    30th June, 2017 at its Board Meeting.

The consolidated financial performance highlights for the quarter ended 30th June, 2017 are as follows -

Sales (inclusive of Excise Duty) at Rs. 670.98 crores, reflected an increase of 8.60% over the previous period (Rs. 617.84 crores).

Operating EBIDTA i.e. Operating Earnings before Interest, Depreciation, Taxes and Amortisation was recorded at Rs. 109.85 crores registering an increase of 7.89% over the corresponding figure of Rs. 101.82 crores for the previous period.

Cash profit increased by 19.94% from Rs. 66.65 crores in Q4 FY 2016 to Rs. 79.94 crores in Q4 FY 2017.

PBT increased by 25.67% from Rs. 46.08 crores in Q1 FY2017 to Rs. 57.91 crores in Q1 FY2018.

PAT increased by 38.33% from Rs. 28.33 crores in Q1 FY2017 to Rs. 39.19 crores in Q1 FY2018.

The table below gives the details of the financial performance both on standalone and consolidated basis –  

AIS – Financial Results for the first quarter ended 30th June, 2017
(Rs. Lakhs)
Particulars
Standalone
Consolidated
2017
2016
Change (%)
2017
2016
Change (%)
Sales
65,891
61,022
7.98
67,098
61,784
8.60
Operating EBIDTA
11,314
10,427
8.51
10,985
10,182
7.89
Cash Profit
8,329
6,923
20.31
7,994
6,665
19.94
Profit Before Tax
6,202
4,963
24.96
5,791
4,608
25.67
Profit after Tax
4,145
3,058
35.55
3,919
2,833
38.33


We have also implemented some operational upgrades in our float glass plant at Roorkee leading to productivity increases from the next quarter. We also welcome the new regulations & standards from the government for architectural glass which shall be beneficial to everyone in the long term. As required by law, we have migrated to the new IndAS method of accounting and therefore, our results have been restated this quarter with minor upside on PAT coming from positives in depreciation.  Overall, we continue to look forward to consistent growth in auto and architectural segments as well as a stable macro environment.”

About AIS:
Asahi India Glass Ltd. (AIS) is a joint venture between the Labroo family, Asahi Glass Co. Ltd. of Japan, and Maruti Suzuki India Limited. AIS began operations in 1987.
AIS, today, is a leading integrated glass company in India, manufacturing a wide range of international quality automotive safety glass, float glass and architectural processed and value added glass. AIS operates under three strategic business units (SBUs), namely, Auto Glass, Architectural Glass and Consumer Glass.
Auto Glass is India's largest manufacturer of world class automotive safety glass and is, in fact, one of the largest in the field in Asia. It is the sole supplier to almost all the OEMs and has a market share of approx. 77 per cent in the Indian passenger car industry.
Architectural Glass is formed as a result of management merger of Float & Glass Solutions (Processed Glass) SBUs. This SBU manufactures quality float glass and deploys an extensive network of 4 zonal offices and over 1000 distributors. It also markets a wide range of AGC products in India as its distribution partner.
Consumer Glass SBU is Company’s interface with end users for its range of automotive and architectural glass offerings. Impeccable, customized and consumer centric solutions is the key differentiator of Consumer Glass SBU. It includes GlasXperts – a retail initiative in the Architectural Glass segment and Windshield Experts which is India’s only automotive glass repair & replacement specialist.

          Stella rossa sull'Europa        
"Buongiorno, Anne. Buon anno".
"Buongiorno, Valentin. Buon anno anche a te. Novità?"
"Sì. Un nuovo arrivo. Sabato notte. Hai il colloquio già fissato per le undici. Trovi tutti i dettagli in agenda".
Anne Dupont, psicologa del Centro di Prima Accoglienza di Calais, entrò nel suo ufficio, accese il terminale e consultò la sua agenda elettronica.

Lunedì 5 gennaio 2011, ore 11,00. Colloquio con Monsieur Philip Brasser. Cittadino britannico. Età 38. Celibe. Operazione di salvataggio in mare, Canale della Manica, acque internazionali, 3 gennaio u.s. Condizioni fisiche buone. Non parla francese. Attribuzione provvisoria: codice blu.

Bene, pensò Anne. Un rifugiato politico. Iniziare l'anno nuovo con un codice blu era di buon auspicio. Il colloquio era di lì a due ore. Non c'erano altri impegni per la giornata. Completò con calma alcuni referti clinici iniziati la settimana precedente, fece una partita a Tetris, chattò con alcuni amici in Internet. Quando fu il momento, si aggiustò il make-up e si recò in sala colloqui.

Era una stanza non troppo ampia, arredata come un normale studio specialistico ma con qualche accorgimento per mettere gli ospiti a proprio agio: colori pastello, luci soffuse, lettino basso, comoda poltrona. Su quest'ultima, di fronte alla scrivania della dottoressa, era già seduto il signor Brasser.

"Good morning, Mr. Brasser. Prima di tutto, come sta?"
La domanda non era solo formale. L'uomo appariva molto provato. I tanti capelli bianchi, la pelle del viso magro solcata da numerose rughe, le profonde occhiaie dietro le lenti spesse, lo facevano sembrare più vecchio di dieci anni rispetto alla sua età anagrafica. Al posto degli abiti che indossava al momento del suo salvataggio, fradici e inservibili, gli avevano fornito un nuovo completo, che era tuttavia di due numeri più largo e accentuava la gracilità del suo fisico. Gli tremavano le mani.
Quegli scafisti maledetti, pensò Anne.
"Adesso sto meglio, grazie. Certo, suppongo che la notte passata all'addiaccio su quel canotto non abbia migliorato granché la mia cera. Ma ho fatto una buona dormita, qui da voi, e la vostra cucina è ottima". La sua voce era ferma, con una sfumatura d'ironia. "Solamente, non sono riuscito a procurarmi neppure una sigaretta, dottoressa..."
"Dupont. Ma può chiamarmi Anne. Temo che non ne troverà neppure in futuro. Nell'Unione non se ne producono più. Fino a qualche tempo fa, le importavamo dal suo paese".
"Oh, già, ora ricordo. Le esportazioni cessarono sei anni fa. Troppo pochi fumatori, qui da voi. Non c'era abbastanza profitto. Lo so perché all'epoca lavoravo in un'agenzia di rating".
"Lei è analista finanziario?"
Il signor Brasser rise. "No. Laureato in agraria. Da Troody's ero operatore al call center. Ogni grande compagnia ha il suo. E' la mansione che ho sempre svolto, durante tutta la mia carriera. Ho lavorato per almeno trenta società diverse, ogni volta per non più di sei mesi. Si imparano tante cose, sa?"
"Non ho dubbi. Ma veniamo al punto. Lei ha chiesto lo status di rifugiato politico. Data la sua provenienza, certamente la sua richiesta sarà accettata. Lei diventerà fra breve, a tutti gli effetti, cittadino dell'Unione delle Repubbliche Socialiste d'Europa. Già adesso, comunque, lei è libero di circolare in tutto il territorio dell'Unione, ed eventualmente anche di tornare da dove è venuto..."
"No grazie! Non ci tengo affatto".
"Dicevo per dire. In genere, qui da noi i rifugiati si integrano abbastanza in fretta. Tuttavia, non si può escludere che, all'inizio, lei si trovi un po' spaesato. Il nostro sistema sociale è molto diverso da quello da cui lei proviene. A sua richiesta, lei può fruire di adeguata assistenza psicologica e culturale, per superare eventuali difficoltà di adattamento. In questa fase iniziale, se vuole, mi consideri pure come suo referente".
"Oh. E quanto dura questa... fase iniziale?"
"Può finire anche subito, se crede. L'unico suo obbligo, se intende rimanere nell'Unione, è di iscriversi nelle liste di collocamento e nelle graduatorie per gli alloggi. Non credo che le sarà difficile trovare un lavoro e una casa. Se lei non ha esigenze particolari, penso che troverà una sistemazione accettabile nel giro di un paio di settimane. Fino ad allora, comunque, può rimanere qui, o spostarsi in una delle altre strutture di prima accoglienza nel territorio dell'Unione".
"Sembra magnifico. Dov'è la fregatura?"
"Ecco. Era proprio ciò che intendevo. Non c'è nessuna fregatura, per quanto lei sia abituato a pensare che debba per forza esserci. Non pretendo che lei mi creda. Presto se ne accorgerà da sé".

Non c'erano straordinari da fare, quel giorno. Alle tredici, Anne spense il computer, salutò i colleghi che arrivavano per il turno pomeridiano e, senza passare dalla mensa, prese l'elio-tram che, serpeggiando silenziosamente lungo la costa, la portò a casa sua in dieci minuti. Era una magnifica giornata di sole. Il mare era inusualmente calmo, in quei giorni. Una fortuna, per Brasser. Aveva evitato il triste destino di tanti boat-people che partivano clandestinamente dalla riva inglese ma non riuscivano a raggiungere i nostri mezzi di soccorso nelle acque internazionali.

Anne abitava da sola. Si preparò un leggero pranzo macrobiotico, poi un caffé d'orzo. Accese la radio; la spense. Si guardò nello specchio del soggiorno. Sorrise. Tutto sommato, si piaceva. Si chiese come sarebbe stato il suo sembiante, alla sua età, se anziché in Europa continentale fosse vissuta in quell'inferno che doveva essere Londra. I profughi le avevano raccontato storie orribili. Inquinamento, degrado. Se andava bene, orari lavorativi di dieci o dodici ore. Altrimenti, la disoccupazione, l'emarginazione e la pazzia. Oppure, per una ristretta minoranza, la ricchezza e il potere, ma a costo di rinunciare a qualsiasi barlume d'umanità. Un'altra forma di follia, in fondo.

Mercoledì 7 gennaio, ore 10,00. Secondo colloquio con Monsieur Brasser.

Quella mattina l'aspetto di Mr. Brasser era molto migliorato. Anne glielo disse.
"Grazie, Dottoressa. Lei è gentile quanto bella".
Anne Dupont ignorò il complimento.
"Se ho chiesto un nuovo colloquio" continuò Brasser, "non è per ottenere assistenza psicologica".
"Davvero? E perché, allora?"
"Ho due domande da porle".
"Le risponderò, se posso. Ma prima, permetta che le faccia io una domanda. Cosa sa, lei, dell'Unione?"
"Poco, in realtà. So che dapprima ci fu la Rivoluzione d'Ottobre, in Russia, nel 1917. Poi, tra il '18 e il '20, il capitalismo fu abbattuto in Germania, in Ungheria e in Italia. In rapida successione, tutte le colonie europee in Asia e in Africa conquistarono l'indipendenza. L'India nel 1925, la Cina nel '27, e così via. Poco dopo fu la volta dell'Algeria e del Marocco, e a quel punto la rivoluzione scoppiò anche in Francia e in Spagna. Alla fine degli anni '30, tutta l'Europa continentale era socialista.
Frattanto, il crollo di Wall Street nel 1929 aveva gettato l'America nella crisi più nera. Le elezioni presidenziali del 1940 furono vinte da Charles Lindbergh, un fanatico antisemita che instaurò negli U.S.A. una dittatura razzista, appoggiata dal grande capitale. Presto quel regime si circondò di una serie di stati-satellite che coprivano tutta l'America del Sud e del Nord.
Negli anni '80, quelle dittature iniziarono ad implodere, dapprima in America Latina e poi in Canada. Quando nel 1989 cadde il Muro di Tijuana, finalmente il capitalismo crollò negli stessi Stati Uniti. Da allora, secondo la nostra propaganda, il Regno Unito di Gran Bretagna è rimasto l'ultimo baluardo del libero mercato e della civiltà, contro la barbarie socialista che ha travolto tutto il resto del globo. Questo è quanto".
"Bene - disse la dottoressa - a parte la faccenda del baluardo, il quadro storico è corretto. Non le sarà stato facile ricostruirlo..."
"No, infatti. Da noi, formalmente, la cultura è libera, e ognuno può leggere ciò che vuole. Si possono prendere in prestito, nelle poche biblioteche rimaste, anche testi di Marx o di Lenin, e persino di Fabio Volo. Non è vietato. Di fatto, però, ci sono materie che non conviene approfondire troppo. Se si viene a sapere che lei fa certe letture e che ha determinate idee (e si viene a sapere sempre), non speri di trovare lavoro tanto facilmente. Io me la sono cavata con i call center, solo perché le mie origini non sono troppo umili. Quando avevo vent'anni, i miei riuscirono persino a mandarmi all'università. Certo, oggi non potrei più frequentarla. Da allora le rette sono decuplicate."
"Ah, lei ha letto Fabio Volo? Complimenti. Da noi, molti lo considerano un autore troppo difficile".
"Sì, è molto rigoroso e denso, ma se si ha tempo da dedicargli, è un pensatore affascinante. Le consiglio la Critica del tempo unidimensionale, se non l'ha ancora letta. A me ha aperto la mente. In realtà, uno dei motivi per cui mi sono deciso ad espatriare è che anche studiare per conto proprio da noi è diventato impossibile. Troppo costoso, da quando il dizionario è stato privatizzato".
"Il dizionario?"
"Sì. Tutti i sostantivi che iniziano per vocale appartengono alla Mircosoft. Quelli che iniziano per consonante sono del gruppo Murdogh. Gli avverbi sono di Merdaset, e così via. Per leggere o per usare comunque le parole bisogna pagare il noleggio ai legittimi proprietari. Quando lei scrive una e-mail, oppure quando chatta o quando telefona, un sistema di contatori automatici calcola la cifra e l'addebita sul suo conto. Ottimo sistema, fra l'altro, per controllare i contenuti della comunicazione. Io, per esempio, ho fatto quindici giorni di carcere per uso illecito di marchio registrato, la volta che in una mia mail ho scritto che la Cocca Colla mi faceva schifo".
"Senta, Mr. Brasser. Quali sono i suoi progetti? Cosa intende fare, ora che è venuto qui da noi?"
"Primo, togliermi una curiosità che mi ha tormentato a lungo. Ed è la prima delle due domande che volevo farle, si ricorda?"
La dottoressa Dupont sbuffò. "Va bene. Spari".
"La domanda è: perché non ci avete invaso? Come avete potuto lasciarci a mollo in quella fogna?"
Anne si appoggiò sullo schienale della sedia. "Beh, alcuni partiti in seno all'Internazionale erano per dichiarare guerra. Ma infine prevalse l'idea che il socialismo non può essere imposto con i carri armati. Se ci avessero attaccato, ci saremmo difesi. Per fortuna non accadde. Oggi, poi, molti sostengono che una pluralità di sistemi sociali diversi non è necessariamente un male. In India, in Giappone e in Sud America, dove la transizione al comunismo è molto avanzata, stanno già smantellando le strutture dello Stato, per sostituirle con vari tipi di organizzazione non statuale. In Europa e in Africa ci troviamo ancora nella fase socialista, in vari stadi di sviluppo a seconda dei territori. Forse è bene che ci siano delle zone dove ancora vige il capitalismo."
"Sarà un bene per voi, che ci osservate dall'esterno come se fossimo allo zoo! Ma per noi che siamo in gabbia è un altro discorso".
"Lei ora non è più in gabbia. Comunque, mi sembra che il suo atteggiamento nei confronti del suo paese d'origine sia un po' troppo negativo, non crede?"
"Mi dica lei cosa ci vede di bello, in quel letamaio", ribatté Brasser.
"Beh, che so... Avete una scena musicale molto vivace. Un sacco di gruppi pop, rock, punk, post-punk... Wim Wenders ci ha fatto anche un film. Poi, comunque, il vostro sistema ha ancora una base di consenso popolare".
"Si riferisce a West End London Social Club, vero? Quel film mi dà la nausea! Le televisioni del regime lo replicano senza tregua. L'unico film d'autore trasmesso in prima serata, e senza interruzioni pubblicitarie."
"Ecco, ad esempio - lo interruppe la dottoressa - Perché lei parla di televisioni di regime? Da voi ci sono sei o sette canali, se non sbaglio, tutti privati e in concorrenza fra loro..."
"... e trasmettono tutti le stesse schifezze. Non si distinguono l'uno dall'altro. Anne, lei non ha capito: da noi l'economia è allo sfascio, la società è in piena decadenza, la cultura è morta e sepolta. L'unica attività che va a gonfie vele è la manipolazione del consenso per mezzo dei mass-media. Quella è l'unica industria che non conosce crisi!"
"Non volevo farla arrabbiare. Si calmi. Lei ora è al sicuro. Andrà tutto bene. Respiri profondamente, e mi faccia la seconda domanda che voleva pormi".
"Mi scusi. La domanda è questa. Lei è libera stasera? Ho letto sul giornale che in un cinema d'essai a Dunkerque proiettano L'Atalante di Jean Vigo. E' una vita che desidero vedere quel film, e mi chiedevo se... lei volesse venire con me a vederlo, ecco."


Pubblicato su Evulon in due puntate: la prima il 7 gennaio 2011 qui, e la seconda il 12 gennaio 2011, qui.
          '..to get rid of petrol and diesel vehicles by 2025..' - Britain bans gasoline and diesel cars starting in 2040 (no replies)        
'..The Netherlands and Norway previously said they wanted to get rid of petrol and diesel vehicles by 2025 and Germany and India announced similar plans ahead of 2030.'

- Chloe Farand, France will 'ban all petrol and diesel vehicles by 2040', July 6, 2017


'..Dirty air has been linked to cancer, asthma, stroke and heart disease, among other health issues. The problem is especially pronounced in big cities including London.'

'Britain will ban sales of new gasoline and diesel cars starting in 2040 as part of a bid to clean up the country's air.

The decision to phase out the internal combustion engine heralds a new era of low-emission technologies with major implications for the auto industry, society and the environment.

"We can't carry on with diesel and petrol cars," U.K. environment secretary Michael Gove told the BBC on Wednesday. "There is no alternative to embracing new technology."

Gove said the government's air quality plan, which is set to be officially announced later on Wednesday, was needed because gasoline and diesel engines contribute to health problems, "accelerate climate change, do damage to the planet and the next generation."

Roughly 40,000 deaths in Britain each year are attributable to outdoor air pollution, according to a study published last year by the Royal College of Physicians. Dirty air has been linked to cancer, asthma, stroke and heart disease, among other health issues. The problem is especially pronounced in big cities including London.

The timeline for ending sales of internal combustion engines mirrors one proposed in early July by France. President Emmanuel Macron has given the auto industry the same deadline to make the switch to cleaner tech.

"We are quite rightly in a position of global leadership when it comes to shaping new technology," Gove said.

- Charles Riley, Britain bans gasoline and diesel cars starting in 2040, July 26, 2017


Context

'..to Ban Internal Combustion Engines by 2030'

'..committed to 100 percent clean energy by the year 2050.'

(Global) - '..a revolutionary shift to net zero emissions by 2080..'


'Thorium reactor: cleaner, safer and sustainable nuclear energy within sight'

(Fusion Power) - LPP Focus Fusion 1; '..FF-1 results are right now far ahead..'

'..to develop a series of electric and hybrid aircraft..'


The "CityTree" - 'Air pollution is one of the world's invisible killers.'

          '.."unacceptable comments" by the Turkish authorities..' (no replies)        
'French centrist candidate Emmanuel Macron "strongly condemns" what he calls provocations from the Turkish government.

Macron has called on France to support its European partners and "reject the Turkish government's abuses." He says that "the European Union must have a united response."

He criticizes "unacceptable comments" by the Turkish authorities that target "European values," and Germany and the Netherlands.'

- French Candidate Macron Condemns Turkey, March 12, 2017


'Danish Prime Minister Lars Lokke on Sunday called on his Turkish counterpart Binali Yildirim to delay a planned March visit because of "tensions" between Ankara and the Netherlands.

"Such a visit could not take place in light of the current attacks by Turkey against the Netherlands. Therefore I proposed to my Turkish colleague to postpone our meeting," Lokke said in a statement.'

- Denmark calls on Turkish PM to delay planned visit, March 12, 2017


Context

'..Erdogan .. way out of line..'

                  
 Our awesome skating trip! Click here for more




















































          First day in Camp        


 
























For more pictures, click here

          â€œEl reto más importante del gobierno en los programas sociales está en la focalización y priorización”        
Economista, jefe del área de desarrollo económico y social de Macroconsult, Álvaro Monge habla en la siguiente entrevista sobre los primeros 100 días del gobierno en política social y los principales retos que tiene en este tema. También analiza lo hecho por el gobierno de Ollanta Humala en materia de inclusión social, que fue la principal bandera política de ese gobierno, y cómo ha recibido el nuevo gobierno los programas sociales.
          COLCIENCIAS ¿PROMOTORA O TRABA?: CIENCIA A LA COLOMBIANA...        
¿Ciencia a la Colombiana? Este es un artículo que va en contra de la corriente actual, de alguna manera podrán decir que estoy en contra de la "ciencia" lo que me parece en cierto sentido excelente. Hace pocos días se desató el escándalo de que le iban a quitar plata a Colciencias. Para mí fue motivo de decepción: ¡Deberían cerrarla! Si yo fuera presidente lo primero que cerraría sería Colciencias y eso que es complicado dado como se comporta la academia actual, deseo que eso pase, que cierren a Colciencias... no ser presidente.

¿Qué ha pasado? La verdad hay un exceso de noticias que impiden afirmar científicamente qué fue lo que pasó. Hay dos hechos que creo claros: 

1. "La directora de COLCIENCIAS dijo que iban a quitarles presupuesto"
2. "La directora de COLCIENCIAS dejó su cargo a los pocos días"

COL CIENCIA... RAZONAMIENTO INDUCTIVO A LA COLOMBIANA...
¿Qué pasó realmente? ¿Cómo se supo la "noticia" difundida como escándalo nacional? Lo primero que genera inquietud es ¿cómo sabía la directora que les iban a quitar presupuesto? ¿Le escribieron el ministro o el presidente? De acuerdo con un artículo de "El Tiempo" (al que hay que leer a favor de Colciencias por el sesgo a favor del presidente) http://www.eltiempo.com/estilo-de-vida/ciencia/colciencias-recibira-menos-presupuesto-en-el-2015/14203881 manifestó que recibió un correo de su director de planeación, es decir, un funcionario de ella. ¿Y ese funcionario de dónde la recibió? El confuso artículo del periódico El Tiempo menciona al Departamento Nacional de Planeación. Esa mención parece una "Colcienciada..." es decir una imprecisión de tipo periodístico como se da en Colombia. Pero ¿y si viniera del DNP? Si uno mira las funciones del DNP frente al presupuesto sus funciones son más de carácter burocrático y asesor que realmente quien elabora el presupuesto https://www.dnp.gov.co/Qui%C3%A9nesSomos/Funciones.aspx . Por su parte, quien realmente elabora y sigue el presupuesto, por tener la misión de la política fiscal y la definición del gasto público es el Ministerio de Hacienda http://www.minhacienda.gov.co/HomeMinhacienda/presupuestogeneraldelanacion. 

¿Entonces era información veraz con la que se basaba la directora de Colciencias? Es factible que la información fuera veraz. ¿Y cómo lo comprueba? Pero no es una información que uno pueda tomar como concluyente.  Lo sería si hubiera conocido el proyecto de ley del presupuesto presentado al congreso, ni siquiera un borrador permitiría una inferencia que "les quitaron el presupuesto". Solamente podría hablarse de una intención. Pero releamos las palabras: "Voy a dar la mala noticia que me acaba de llegar en un correo. Me dice mi jefe de Planeación: 'Directora, le mando la confirmación del presupuesto del año entrante, que es 289.000 millones de pesos. Estamos ya a 125.000 millones del presupuesto del año pasado". Pero bueno esa es la ciencia a la colombiana, una declaración no confirmada de una funcionaria -con autoridad de dirigir la "ciencia colombiana"- da para que toda una academia proteste porque "le van a bajar el presupuesto a Colciencias". 

Pero bueno ese es el ridículo argumento de autoridad -no verdaderamente científico- por el que la "academia" reconoce un hecho probado: le van a disminuir el presupuesto a "Colciencias". Ni el más formalista, ni el menos riguroso de los académicos validaría una información de ese calibre. Es más ni siquiera hace bien el único trabajo que ese el estado: ¡producir formularios y saber llenarlos! Es como si un científico dijera que en su laboratorio la presión atmosférica es de 900 HPa porque se lo dijo su "asistente". Uno como mínimo mira el barómetro. Pero es ciencia a la colombiana... una mentalidad que se cree pensadora porque sabe muchos chismes... Recuerdo que hablaba una vez con una niña que estudiaba periodismo y ella leía "las fuentes son... el ministro". Y yo le dije que eso no era real, que la fuente es el acto -que es como se comunica el ministro como ministro- no la opinión -política además-del ministro. Bueno, tal vez la directora de "ciencias a la colombiana" quería rebelarse contra la ¡producción de formularios! y ver que puede haber verdad confirmada más allá del formulario... en especial lo referente al futuro...

UNA INSTITUCIÓN PARA "FOMENTAR" LA "INVESTIGACIÓN"
"Deseo tener el país más educado: ¡todos tendrán un diploma!"
¿Qué es Colciencias? Uno podría quedarse por lo que dicen los decretos que la crean, que es el mismo copy paste de esos sueños que quedan en las leyes. Acá creemos que el tiempo y el reloj se mueven por decreto, sino pregúntele a Juan Manuel Santos su ridícula e improvisada propuesta que pasó a la historia como "la hora Gaviria" y que cancelaron casualmente en el momento en que astronómicamente era inconveniente... manifestando que "ya era económicamente viable". Así como creemos que por decreto va a salir la ciencia, la tecnología y la innovación, creemos que necesitamos gente "trabajando" para hacer magia el decreto. Y eso hace "Colciencias":

Colciencias es el Departamento Administrativo de Ciencia, Tecnología e Innovación.
Promueve las políticas públicas para fomentar la CT+I en Colombia. Las actividades alrededor del cumplimiento de su misión implican concertar políticas de fomento a la producción de conocimientos, construir capacidades para CT+I, y propiciar la circulación y usos de los mismos para el desarrollo integral del país y el bienestar de los colombianos.  http://www.colciencias.gov.co/sobre_colciencias?vdt=info_portal%7Cpage_1

¿Las cosas se conocen por el qué o por el cómo? Seguramente por el cómo. ¿Cómo promueve, fomenta, (y mil sinónimos de la burocracia para enfatizar sus objetivos) la Ciencia, la Tecnología y la Innovación? Contaré mi experiencia. ¿Qué hace Colciencias?

Siendo uno de los pocos privilegiados que pudo pasar por la universidad recuerdo varias cosas. Una de mis grandes amigas (que seguro estará en desacuerdo y podrá precisar este artículo) era la Directora del Centro de Investigaciones. También intentaba entrar al mundo de la investigación universitaria con un Semillero de Investigación. Y bueno he encontrado más cosas en las universidades. 

En aquellas épocas mi amiga trabajaba con otra amiga que se encargaba de arreglar todos los asuntos de la investigación. Bueno "investigación". Recuerdo que una de sus tareas era ayudar a los profesores a actualizar el CVLac ¿Qué es el CVLac? En Colciencias http://www.colciencias.gov.co/tutorialcvlac puede verse un tutorial especial para hacer el CVLac. Esto es básicamente la hoja de vida del investigador. ¿Por qué para investigar en las universidades se requiere una hoja de vida? El tutorial para hacer el CVLac tiene unas 66 páginas http://es.calameo.com/read/000051811450cdee35ceb cuya lectura muy posiblemente serán horas de investigación... perdidas... Y eso que luego de leerlo hay que llenarlo... Una labor que podrá ayudar a la paciencia, la templanza, la fortaleza pero no la investigación, mucho menos la innovación... Bueno, puede servir a crear el llenado automático de formularios, ¿se le ocurrirá eso a la brillantez colombiana? Espero que como un chiste bastante picante el programador del llenado automático de formularios sea colombiano...

Alguna vez renegaba del colegio del que salí diciendo "en este colegio no quieren científicos sino secretarias". Pero el colegio no era más que un mini-Colciencias. Creo que Colombia solamente necesita una profesión "elaboración y llenado de formularios", así que el colegio pensaba en mi bien cuando me hablaba de la importancia de no salirme de los márgenes. De paso no debía enseñar nada más, porque los que "estudiamos" comemos cuando llenamos formularios, y comemos mejor cuando llenamos formularios más elaborados. Pero entre llenar un CVLac para decir que investigo o una declaración de renta por plata prefiero llenar una declaración de renta.

Ahora bien, no bastaba con llenar la hoja de vida. También las universidades hacen grupos de investigación. Aunque la curiositas es amplia la investigación suele centrarse, no en el macrocosmos sino en el primer pelo de la segunda pata de la hormiga culona santandereana.Y allí tenemos los grupos de investigación. Esos grupos se mueven por proyectos. Por ejemplo "El crecimiento del primer pelo de la segunda pata de la hormiga culona santandereana en la disminución  del consumo de la misma en la dieta de los habitantes de San Gil, Santander". Esos grupos también tienen hoja de vida... efectivamente, más formularios. Pero bueno, eso no es lo que hace Colciencias, lo que hace es tomar esas hojas de vida y "pesarlas" y es básicamente comparar la investigación con la producción de bienes y servicios. La calidad de la investigación es "cantidad" http://www.colciencias.gov.co/sites/default/files/ckeditor_files/files/DOCUMENTO%20Modelo%20de%20Medici%C3%B3n%20Grupos%202013-VERSI%C3%93N%20II%20Definitiva%20DIC%2010%202013%20_protected.pdf.

Es así como los investigadores ya tienen un buen tiempo llenando formularios -e investigando cómo se llenan esos formularios-. Pero uno tal vez piensa "bueno, ese no es el día a día de la 'apasionante' investigación". Pero no es extraño encontrar a los profesores llenando esos formularios que tienen plazo para enviarlos. Eso sin contar con los miles de informes que deben mandar. Creo que Colciencias también financia proyectos o autoriza sumas pero eso por lo menos no lo vi. Bueno, vi los jóvenes investigadores de Colciencias ¿Un incentivo para destruir la investigación verdadera con dudosas vinculaciones a universidades?

EL PELIGROSO MIX DE CIENCIA Y ESTADO
¿Formularios o celdas? Difícil volar alto dentro de una jaula...
Supongamos que Colciencias sí financia los proyectos de investigación y supongamos que es una financiación eficiente: la burocracia es simple papeleo en comparación al apoyo a la investigación. Esto es un peligro porque queda centralizada a los intereses y compromisos del gobierno de turno. Supóngase que un grupo de investigación investiga las vías para la paz en Colombia y encuentra "peligroso negociar en la Habana por la inviabilidad y efectividad del acuerdo para generar un desarme efectivo". O supóngase que un grupo de investigación en "Energías renovables" investiga "la generación eléctrica mediante el uso de las olas" que afecta a los monopolios del carbón y de las energías en petróleo, carbón o gas que de paso son empresas "industriales y comerciales del estado" que le generan regalías o pueden subastar para mejorar su cash flow... O algo un poco más de frente "La necesaria liberalización de la investigación para asumir los retos del mundo moderno" o algo con un tono más marxista "el factor alienante del estado en sus 'oficinas de fomento' de ciencia y tecnología". 

La primera es una investigación que puede estar en el rigor legítimo y que está en todo su derecho a disentir de las políticas del gobierno. Pero como "la investigación debe realizarse dentro de los marcos, planes y programas" del estado posiblemente no se le acuse de frente, pero sí le exigirán hasta por un milímetro demás en los márgenes. Mejor dicho le dirán "claro que puedes abrir las alas... dentro de la jaula que hemos construido para ti". La segunda tampoco saldrá de plano, pero le exigirán todo y de paso se fomentarán investigaciones para demostrar "la inviabilidad del uso de las olas en la generación eléctrica". La tercera tampoco se aprobará. El estado  no es el garante, ni el promotor, ni la ciencia nace por decreto, ni llenando formularios. Bueno, sí salen libros sobre cómo llenar formularios, 66 páginas sobre cómo llenar la hoja de vida del investigador, algo que nos "facilita" la vida...   

El nacimiento de la innovación, la tecnología y la ciencia se da de una forma totalmente contraria al planteamiento burocrático y centralizado de Colciencias. Al respecto puede leerse "El Tomismo Desdeñado" donde explican con claridad cómo el descubrimiento, el aprendizaje y demás son cuestiones que se dan en el marco de cada persona en concreto. Esa novedad, eso que estaba 'under my very nose' para parafrasear a un autor judío-norteamericano citado en "El Tomismo Desdeñado", no es algo sujeto a la forma, la cantidad o la temporalidad. De esa misma forma investigo yo, abierto a la naturaleza, al mundo y a los hechos... En esa forma de investigar no tengo que llenar formularios, a veces ni dejar registro -aunque sea mejor hacerlo- sino una permanente observación. 

No niego que en el sistema de ciencia a la colombiana pueda haber buenos, incluso genios en la investigación y verdaderos aportes a la ciencia. Pero me parece que el sistema de "ciencia a la colombiana" o "investigación de llenado de formularios" anula, restringe o excluye a aquellos que son a mi juicio los mejores investigadores y restringe el alcance de los que lo logran. Los mejores investigadores son los niños sin lugar a dudas, su permanente contacto con la magia de la naturaleza y su capacidad de asombro los lleva a proponer las mejores soluciones y conclusiones sobre el mundo. La investigación necesita también del error, cosa que no se puede si está centrada en el llenado de formularios que considera el error como incorrecto... y de paso delito...

Y seamos sinceros ¿cómo se dio el aporte a la ciencia en la historia? ¿Por órganos centralizados que fomentaran la "innovación, la ciencia y la tecnología"? Entre algunos ejemplos Fermat era un matemático aficionado cuyo oficio era el de abogado, y tener un diploma en derecho hace 'necesariamente' que uno no sepa de matemáticas. Conclusión a la que los "col-científicos" han decretado como dogma. Fermat jugaba con los números y hacía continuos descubrimientos que sorprendieron a muchos matemáticos posteriores como Euler. Pitágoras necesitaba seguramente un proyecto de investigación -y financiación de "Crotociencias"- para probar que "en un triángulo rectángulo la suma de los cuadrados de los catetos es igual al cuadrado de la hipotenusa". Se dice que Pitágoras huyó de su ciudad natal a Crotonas entre otras porque no quería participar en cuestiones de política http://es.wikipedia.org/wiki/Pit%C3%A1goras. Eso sin contar con notables condenas y asesinatos a genios del calibre de Sócrates, asesinado entre otras porque pidió como condena que "Colciencias" lo financiara de por vida por sus aportes a la sociedad...

Acabo de citar a Wikipedia que en ciencias colombianas "no es una fuente de fiar porque lo modifica cualquiera", el problema creo no es que cualquiera pueda modificarlo sino que lo hace gente que no tiene "CVLac". Probablemente los que modifican Wikipedia sean unos mediocres que pasan todo el día de fuente en fuente y no se gradúen con honores como Newton http://es.wikipedia.org/wiki/Isaac_Newton que pasaba todo el día en la biblioteca y no iba a clase. Un artículo académico trae mil fuentes -CITADAS CON NORMAS APA- wikipedia trae ¡las fuentes! con link directo. O sino vea lo que trae la Wikipedia cuando uno busca a Newton: http://gravitee.tripod.com/booki1.htm ¡Su obra maestra!

IN CONCLUSIÓN...CIERRE, CIERRE!!
Espero que todos sean científicos e innovadores como yo.
Atte: Colciencias.
El conocimiento, la verdad y demás, es dialéctico y por eso no debería concluir un debate. Pero yo concluiría, cerraría, a Colciencias. Una tímida disminución de presupuesto es poco por la ciencia, la tecnología y la innovación... pero, si eso es cierto ¡hay que reconocerle la buena obra al gobierno! Los críticos -simplemente porque no es el gobierno que quieren- critican cualquier cosa que haga o digan que haga el gobierno, es un deporte, hasta bueno, el caso es que ver algo bueno en un gobierno es TAN difícil que hay que felicitarlo si estuviera haciendo las cosas bien... 

Sin embargo, así es la realidad de este alienante y desmoralizador país cuya única profesión es el llenado de formularios... Si alguien pregunta por Colombia y lo que hacen... ¿Qué hacen? las empresas "llenar formularios" y si les queda tiempo producir bienes y servicios, las universidades "llenar formularios" y si les queda tiempo dan clases pero ¿investigan? Y los abogados "llenan formularios" y ¿en su tiempo libre? Piensan cómo hacerlos más enredados ¿Y qué hace el gobierno? ¡Produce formularios!  

Y ¿qué son entonces El Tiempo, El Espacio, El Asombro o Espectador, El Colombiano, La República, Portafolio, El Nuevo Siglo, El País, El Universal? ¿Realidades? ¡Qué va! ¿Formularios? No, eso tiene su ciencia... ¡Periódicos! Pero los dueños de los periódicos son los mismos que hacen los formularios... Esa es la ciencia a la colombiana, basta leer un periódico, e improvisar su resumen como lo hacía un mediocre profesor del colegio que estaba allí porque sabía cómo ser un buen policía... ah y sabía verificar que el "desprendible" -formulario para niños- se llenara bien so pena de llamar "negligentes" a sus alumnos... Ese era mi "modelo" de "diligencia"... Clases improvisadas, formularios bien llenados... 

Esa es la ciencia a la colombiana: producción de formularios. Y su proceso o método:

- Justificación o discusión del formulario: periódicos
- Producción del formulario: gobierno/estado
- Control y auditoria para garantizar su incomprensión: abogados, lobbies, grupos de poder. Su objetivo es que entre más incomprensible, mejor...¡calidad!

¿Y Colciencias? Una tuerca sin aceite en medio del engranaje decadente... al que muchos encuentran por donde elogiar sus "grandezas"...

NOTA: Si quiere comentar este artículo escriba 1. para queja, 2. para ironía, 3. para felicitación y agradecimiento, 4. Para reclamo... ¡Qué! Si le da la gana de escribir hágalo como quiera... si quiere insúlteme, internamente me ofenderé y reiré de usted al mismo tiempo, pero bienvenido...

NOTA 2: O uno escribe o se dedica a recopilar fuentes, ahí están los links y un libro "El Tomismo Desdeñado" de paso le dejo el "CVLac" del autor http://190.216.132.131:8081/cvlac/visualizador/generarCurriculoCv.do?cod_rh=0000534471. Algunos me entenderán que ese CVLac es ridículo...De investigador junior no tiene ni un pelo...




          EDUCACIÓN, DIPLOMAS E INTERVENCIÓN ESTATAL        
(Imagen tomada de GRUBER, 2010, pág. 308)
Esta semana hablábamos mi hermano y yo acerca de una propuesta educativa, estudiar pero no por un diploma. Yo le añadiría ni por una nota. El tema de la educación me llama particularmente la atención por varias razones, en primer lugar, soy el que maneja los costos de transacción (impuestos, contratos, contabilidad, planeación financiera y tesorería) de una fundación cuyo mayor objetivo es resolver problemas sociales a través de la educación. Pero, ¿qué es la educación? ¿Cómo se vive la educación? 

La educación actualmente es vista como un programa que tienen que recibir todas las personas, desarrollar unos exámenes, a cambio de obtener un diploma. Claro que el diploma es un papel y como el rey de la foto lo puede dar cualquiera... y generar naciones "educadas". Se supone que el estado "controla" la educación de "garaje", pero en sí mismo él es el promotor de que los estudiantes se preocupen por una nota (y hagan lo que sea por ella) o un diploma más que por sacar provecho y aprender. Antes las instituciones de "garaje" "facilitan el objetivo" de la "educación", OBTENER FÁCILMENTE UN DIPLOMA. Por otro lado, el estado considera la educación como un "bien público" que genera "externalidades" positivas... y niños medicados, deprimidos y sintiéndose inútiles porque los hacen ver matemática avanzada cuando ellos quieren es bailar, correr, o lo contrario, otros queremos ver matemáticas y nos hacen correr en extenuantes jornadas más allá de nuestras fuerzas. ¡Vaya externalidad "positiva"!

¿Por qué el estado se debe preocupar por la "educación"? ¿Por qué gasta la mayor parte de su presupuesto en ella? Las razones de política económica que se leen en el libro Public Finance and Public Policy de Jhonatan Gruber son las que consideraremos a continuación.

¿POR QUÉ EL ESTADO SE METE EN LA EDUCACIÓN?

En primer lugar, consideran que la educación es un bien semi público (GRUBER, 2010, págs. 292, 293 y 294) y que con base en eso va a haber fallas de mercado y problemas de redistribución. ¿Realmente es así? Más adelante procederemos a esta objeción.

Por otro lado, consideran que la educación aumenta la productividad (GRUBER, 2010, pág. 292) eso de alguna manera es cierto. Pero hay que preguntarse ¿para quién? El experto en educación Sir Ken Robinson sostiene que esa es la razón por la cual reforman la educación (ROBINSON), pero precisamente ese modelo genera caos en la vida de muchas personas. ¿Todos somos para el conocimiento académico?  Dicen que mejorar la productividad genera una externalidad positiva, pero y ¿Qué pasa con aquellos que simplemente fueron excluidos porque no eran considerados por el modelo? ¿Eso no es una perversa externalidad negativa tener niños tristes y drogados para atender a cosas que no les interesan?

La tercera razón es la más perversa de todas. La educación genera “buenos ciudadanos” (GRUBER, 2010, pág. 293). Claro que con contenidos ideológicos y cátedras de lo que el estado que muchos nos quejamos es corrupto. Pero claro, se lanza un señor con una campaña de lápiz –como si el lápiz genera aprendizaje en sí mismo- y todo el mundo va a pensar ¡qué buen candidato! ¡Va a ideologizar a nuestros niños! 

¿CÓMO SE METE EL ESTADO EN LA EDUCACIÓN?

La forma cómo se mete el estado en la educación es en primer lugar ofreciéndola como servicio gratuito. Esto no parece tan perverso. Lo que genera es el problema de la sobredemanda del bien gratuito y por ende salones atiborrados "aptos para el aprendizaje".

 Sin embargo, la mentalidad intervencionista, hace que el estado ofrezca otra intervención y es la estandarización. Esta estandarización es la forma más perversa de intervención del estado en la educación, porque pone un prototipo de seres humanos que deben cumplir con ciertas habilidades que no necesariamente son las que el mercado laboral requiere. Refiriéndose a la perversa alienación de toda política intervencionista nos dice José Alpiniano García Muñoz lo siguiente no tanto de lo alienante sino de por qué falla este modelo:

"Al igual que el plan general de los bolcheviques, estos agregados estadístidos [que son el fundamento de la macroeconomía] no reconocen la singularidad humana que torna útiles las cosas.Entonces el mecanismo social deviene ajeno a la realidad. Sería necesario acudir a tantas cosas que resulta imposible que alguien particularmente pueda señalarlo.  La economía debe considerar multiplicidad de factores que además son variables." (GARCÍA-MUÑOZ, 2012, pág. 53)
¿Qué multiplicidad de factores debe considerar? Nada más y nada menos que la PARTICULARIDAD HUMANA. Particularidad humana que es única y exclusivamente cognosible por cada individuo. Así que el estado lo que hace con la educación es crear prototipos de personas y excluir a aquellos que no han sido considerados por el programa que es incapaz de considerarlos. Adicionalmente genera toda clase de efectos secundarios en la sociedad ¿Cuál es el más grave? No tanto que los profesores hagan trampa o sometan a los estudiantes a jornadas extenuantes para sacar un mejor puntaje en las pruebas "SABER". Es aquellos que la "educación" estandarizada excluye porque sus puntajes los hacen quedar como "inútiles". Si usted es un colegial o un universitario y está leyendo esto piense que lo que se requiere para las pruebas SABER es pensar lo que el estado quiere que usted le conteste. Por ejemplo, puede no creer en la democracia pero conteste que la democracia es el mejor sistema, ¡pero es una mentira!... Pues es una forma de burlarse de lo arbitrario que son las evaluaciones y simple una broma y ellos creerán que el sistema funciona... Conozco dos casos frente a estas pruebas que pensamos así, el mío y el de un cucuteño, se sorprendían de lo bien que nos fue en esas pruebas...

OBJECIONES ECONÓMICO-ANTROPOLÓGICAS A LAS RAZONES DE INTERVENCIÓN ESTATAL

Es falso que la educación sea un bien público, por el contrario se refiere a la parte más singular de la persona.
En primer lugar si el ser humano es particular y solamente él puede conocerse a sí mismo, la educación no bien público ni semi-público sino una actividad absolutamente privada. Lo que pertenece a la conciencia y la intimidad del sujeto no es cognoscible más que por el propio sujeto. ¿Qué vendría siendo la educación entonces? Una ayuda para que cada quien se conozca a sí mismo y un apoyo para que como la sentencia de Píndaro que alguna vez le leí a Alpiniano cada quien devenga lo que es en sus habilidades. Esto podría sonar como un ideal, como un imposible, pero por el contrario es NUESTRA PROPIA CONDICIÓN ANTROPOLÓGICA la que determina la privacidad de la educación. Los colegios hacen lo contrario obligan a los niños a aprender unos contenidos iguales, ahora dizque desarrollar unas competencias y la arbitrariedad del estado lo medirá.

Esto genera entonces varias preguntas ¿Cómo ayudar a que cada quien se conozca a sí mismo? ¿De quién es función? De los padres, por eso el movimiento del Homeschooling  no solamente es una salida para el excesivo bullying causado en parte por la estandarización, sino que es un movimiento que vuelve a la raíz verdadera de la educación: ¡ayudar a sus hijos al autoconocimiento!  A continuación unas razones que expuse en otro escrito para otro blog de cómo hacer esto:

"Por lo tanto, mi querido Alcibiades, los Estados (léase ciudades) para ser dichosos no tienen necesidad de murallas, ni de buques, ni de arsenales, ni de tropas, ni de grande aparato; la única cosa de que tienen necesidad para su felicidad es la virtud. Por consiguiente, mi querido Alcibiades, si quieres ser dichoso tú y que lo sea la república, no es preciso un grande imperio, sino la virtud." (2)

Pero ¿Cómo alcanzar la virtud? La tradición iniciada con Sócrates parte de iniciar la búsqueda del conocimiento del “sí mismo”. Al respecto algunos filósofos como Kierkegaard (3) le han dado un desarrollo tal que, quizás interpretándolo exageradamente, consisten en no imitar absolutamente nada, o el famoso “desnudarse” de Fernando González (4). Sócrates, en su reconocida tendencia aristocrática –pero de la verdadera- nos propone la imitación de la virtud “Y antes de adquirir esta virtud, lejos de mandar, es mejor obedecer, no digo a un niño, sino a un hombre, siempre que sea más virtuoso que él.” (2).

Hemos visto que el bien común nace del bien y la virtud de los seres humanos y que la virtud surge del auto-conocimiento. Pero ¿cómo promover que los hombres se conozcan? ¿Obedeciendo e imitando a la virtud? Es allí donde la educación juega un papel importante en esta idea. A pesar del pésimo modelo educativo actual que se basa en la repetición de ideas pre-establecidas o diseñadas o pensadas para la producción en cadena (5), como para empacar a todos en la misma caja útil a la sociedad [como la canción Little Boxes]. Pero ¿cumple la función de enseñar a conocernos a nosotros mismos? ¿Sirve para conocer? Al vivir de hábitos los seres humanos podremos repetir fácilmente las ideas aprendidas en el colegio y en muchos casos en la universidad pero ¿de qué servirán? Inclusive el aprendizaje por repetición puede considerarse, en términos lógicos, como una falacia conocida como Argumentum ad nauseam (6) y eso no genera virtud (2)." (TORO RESTREPO, 2011)

Una de las preguntas que pueden surgir es el uso del término obedecer. Los padres suelen haber desarrollado una serie de virtudes que el hijo puede imitar. Esa sería mi forma de entender el término de obedecer como como el subordinarse sino el aprendizaje de la virtud del virtuoso. 

La educación puede aumentar ingresos pero hacernos vivir en el hastío. Además, profesiones mejor pagadas no implican eficiencia.
La segunda razón es que la educación aumenta la productividad y genera efectos Spill over sobre toda la sociedad. Yo aprendo de los demás y los demás aprenden de mí. Eso es cierto. Pero las super correlaciones que indican que una "mejor educación" implica un mejor "ingreso" no significan que eso sea un mayor bienestar para la sociedad. Me explico, uno en la universidad ve muchos temas, pero a medida que se especializa separa los que le gustan de los que le disgustan. Y uno puede dedicarse a trabajos de mayores ingresos que no es lo que verdaderamente la persona vino a dar al mundo. A este lo llamaremos el efecto prostitución. En últimas el efecto prostitución no es más que la alienación de ganar ingresos por aquello que no nos gusta. Kafka es uno de los autores que mejor conoce la alienación de trabajar lo que no somos, en "El Proceso" muestra cómo la sociedad lo está persiguiendo permanentemente. Más que una novela sobre el debido proceso es una novela sobre el juicio que el estado y su expresión social masificada el sistema nos está exigiendo; que seamos lo que no somos. Por otra parte, en la metamorfosis se muestra cómo el "buen empleo" tal vez sea convertirnos en una cucaracha o bicho raros. No somos lo que somos porque la educación y las políticas nos desvían de nuestra realidad, de lo que somos realmente. 

Al respecto en versión hispanoamericana tenemos a Facundo Cabral con su canción "Bombero". La canción muestra exactamente las exigencias que hace la sociedad en el proceso de Kafka, un juicio que no comprende. Al final se vuelve abogado -y qué profesión más alienante eligió-. Posiblemente si comparamos a un bombero con un abogado, aquel gana más que éste: ¡retornos de la educación! ¿Eficientes? Su felicidad particular y el destino de muchos se pierden, a la sombra de la alienación. Es el razonamiento hipotético de lo que no fue, pero hay algo claro con más ingresos, no fue lo que era, asumiendo que siendo bombero no hubiera podido idear un proceso que salvara muchas vidas y lo hiciera rico.  Hay varias frases que son muy llamativas al respecto:

El reflejo que nos muestra la sociedad en la alienación
es supuestamente belleza, cuando realmente estamos
¡muertos!
  • “Desde su galaxia tendrá que aprender a ser como todos, y tirar la llave del eterno sueño de ser o no ser.”
  • "Al fin de los días sentado a la sombra de su realidad, y desde la infancia, como en un espejo, la casa paterna, juguetes y amigos y aquel despilfarro de la libertad."
  • <<El viejo se apaga y vuelve a su mente el niño soñando con ser o no ser, cerrando los ojos se va lentamente por última vez: “bombero, bombero, yo quiero ser bombero, que nadie se meta con mi identidad”>>.
Aparte de los problemas de alienación, que es una cuestión antropológica, la cuestión también es económica y de eficiencia. Se proveen servicios para los cuales no se es el más apto y se dejan de proveer servicios para los cuáles se es apto. La variedad de factores que influyen una vida humana cuando opta por el camino equivocado no pueden medirse. Pero es claro que la retroalimentación negativa de la ausencia de un bombero que se necesitaba puede tener unos efectos sociales mayores -especulando nada más- que él simple hastío que padece. La alienación de los seres humanos, en especial por la educación, tiene efectos que se dispersan a lo largo de la economía que podemos no conocer.

La educación planificada no genera necesariamente "buenos ciudadanos".
Veíamos previamente que el buen ciudadano es el que es virtuoso en aquello que es. Es decir, desarrolla habilidades para aquello que vino al mundo. Si la educación, el estado y el sistema lo que genera es un juicio permanente -como en "El Proceso" de Kafka- realmente no está generando "buenos ciudadanos" sino que está persiguiendo al buen ciudadano. Observándolo, juzgándolo por su vestimenta, ingresos, forma de pensar, cuerpo, carros, casas... ¡Alienación!

Por otra parte, la noción de "buen ciudadano" es la de aquel ciudadano maleable, fácil de someter y manipular a los designios del estado. En los colegios la figura de poder que se manifiesta en el profesor es un juego similar a la figura de poder que ejerce el estado sobre la vida de los individuos. Es así como esa educación delineada por personas que no conocen a quienes educan, que además no son unidades humanas sino seres singulares con sueños y expectativas -como ser bombero, aunque el estado lo diseñe como ingeniero-, que ni si quiera han pisado un aula, diseñan programas desde unos conocimientos y dizque competencias para el "individuo promedio".  Â¿Quién es un individuo promedio? ¡Nadie!

INCONCLUSIÓN...
La educación me enseñó a concluir todo lo que escribiera ¿por qué? Porque según la educación todo ensayo agota un tema. La verdad la educación se equivoca, lo que busca un ensayo es empujar, hacer pensar y dejar una reflexión abierta. Si yo tuviera la verdad revelada en mis manos pues concluiría, daría órdenes, pero que esos cuentos se los crea el estado... El estado, sin conocer ni siquiera a los niños, sin saber nada sobre cada uno entre otras porque le es imposible, pretende concluir lo mejor para ellos diseñándoles una vida... que realmente, ni quieren, ni vinieron a vivir...


          EL AUMENTO DE LOS IMPUESTOS ES CONSECUENCIA DEL AUMENTO DEL ESTADO        
El recaudador de impuestos. Pieter Brueghel
Para una de las materias de la Universidad en la maestría en economía tuve que hacer un largo escrito presentando una investigación. Mi tesis o trabajo de maestría será sobre impuestos. Aunque inicialmente [en realidad inicialmente pensé en algo muy enredado y como los fractales de longitud infinita] pensé dedicarme a denunciar el aumento de la retención en la fuente a título de renta que se observa en series de tiempo, creo que tengo motivos suficientes para ampliarlo al impuesto de renta.

¿Por qué ampliar un poco el tema al impuesto como tal? a La razón es que a veces para los particulares y empresas la retención en la fuente es conveniente. Luego de haber escrito una larga disertación de su inconveniencia, una amiga contadora me dijo que había casos en los que era conveniente. Coincidencialmente, luego del comentario de mi amiga contadora como agente retenedor me pidieron dos personas en menos de una semana que no se acogían a beneficios legales que me permitían no retenerles sino que por el contrario me pedían que les retuviera. Esto tiene también su fundamento en el flujo de caja, el impuesto de renta afecta fuertemente el flujo de caja, la retención en la fuente puede diferir esa afectación al flujo de caja que es el impuesto de renta.

En todo caso, sin perjuicio de los alcances que la investigación vaya a tener o a cambiar quisiera compartir unas pequeñas notas sobre por qué los impuestos tienden a subir –o a bajar-. ¿Qué hace que paguemos más impuestos en términos reales? ¿Por qué el estado promueve reformas tributarias? Básicamente porque necesita dinero. A continuación se mostrarán dos perspectivas, la histórica y la teoría económica sobre por qué aumentan los impuestos. Ambas coinciden a pesar de su diferencia en perspectiva.

Aunque  se desconoce si existe algún marco teórico que presente hechos estilizados [hechos que se repiten al aumentar los impuestos] o hipótesis de las causas que influyen en el recaudo, hay un hecho central los impuestos surgen de la necesidad que tienen los estados de financiar el “gasto público”.  Esto puede observarse tanto desde la perspectiva histórica como desde la teoría económica.

1. PERSPECTIVA HISTÓRICA Y FILOSÓFICA
A mi modo de ver hay hechos estilizados están en un análisis histórico. Mil años antes de Cristo en el libro primero de Samuel se hace una advertencia vital: ¡Los reyes cuestan! (1 Samuel vs 11-18). Se tienen registros de impuestos alrededor de 3000 años antes de Cristo en la China (NEW INTERNACIONALISM, 2008). En la antigua Grecia los impuestos se usaban para la guerra pero cuando esta terminaba se devolvían (NEW INTERNACIONALISM, 2008). Quien fuese el tutor de uno de los más grandes tiranos de la historia, Aristóteles, tenía claro que los impuestos no pertenecían al que los recaudaba sino al “tesoro público” (ARISTÓTELES, pág. Volumen 8) y que eran objeto de reembolso (NEW INTERNACIONALISM, 2008).

En la Antigüedad parece entonces que los impuestos respondían a guerras y eran en general en cantidades pequeñas. El impuesto sobre las ventas del emperador Julio César era del 1% (NEW INTERNACIONALISM, 2008). Los impuestos para financiar las guerras como el crecimiento imperial eran la mayor motivación para cobrarlos como sus aumentos. Por ejemplo, Pedro el Grande en Rusia gravó todo lo que pudo (NEW INTERNACIONALISM, 2008) para sus ambiciones imperiales.  Por ejemplo en Inglaterra en 1914 el impuesto sobre el ingreso era del 6% y pasó al 30% al finalizar la primera Guerra Mundial en 1918  (NEW INTERNACIONALISM, 2008).

En la antigüedad eran muy pequeñas las cantidades que prácticamente no tenían efecto sobre la mayoría de los ciudadanos. Sin embargo, con el paso del tiempo las ideas de limitar los impuestos o inclusive negar su legitimidad han ido aumentando. Claro de la mano del crecimiento del estado. Tan es así que sorprende lo poco que importaban a los grandes filósofos estos temas con únicamente pequeñas alusiones al tema, siendo la Aristotélica mucho más racional y la platónica suelta una denuncia en uno de los apartados de la República. No es sino hasta la escolástica española que se hace un análisis jurídico-económico a los impuestos. La historia también ha mostrado ejemplos de límites y desobediencia a los impuestos. Francisco Suárez nos cuenta Carlos Parma sintetizó basado en las enseñanzas de Santo Tomás los límites de los impuestos. Según él estos debían ser para que fuesen justos (LAMAS):

-          debe ser impuesta por la máxima autoridad legislativa;
-          su finalidad debe ser conocida y justa
-          y la proporción del tributo establecido por ella debe ser acorde con su finalidad, en el momento de su creación y durante la subsistencia del impuesto.

Derivado de estos principios es que Juan de Mariana denuncia la mutación de la moneda –el aumento del flujo circulante de dinero- como un impuesto encubierto. Este método en la actualidad consiste en que el Banco Central [en Colombia Banco de la República] prenda la máquina de billetes a favor de los acreedores del estado. Esa mutación de la moneda es un robo, o viéndolo más “objetivamente” es un impuesto encubierto.

Por otro lado, las cuestiones tributarias han sido motivo de movimientos políticos como la independencia de los Estados Unidos (NEW INTERNACIONALISM, 2008).  También se cuenta que el pensador Norteamericano Henry David Thoureau autor de On the duty of civil disobedience fue encarcelado por no pagar un impuesto que financiaba una guerra que los Estados Unidos libraba con México (COY-FERRER, 1975, pág. 414). La oposición a los impuestos se encuentra de manera directa en las acciones de Thoureau, el filósofo Lysander Spooner (SPOONER, 1882)  al igual que el alemán Friedich Nietzsche (NIETZSCHE, pág. 68), consideran que no existe tal tesoro público sino que lo que “pertenece” al estado es robado.

No presento las teorías que favorecen los impuestos por dos razones. La primera es que parecen estar implícitas en la mente de todos, como un lavado de cerebro muy bien hecho, así todos se quejen de ellos. Esta primera razón le explicará de entrada por qué le choca la cita Nietzscheana. La segunda razón es que más adelante sí hablaré de ellas.

2. PERSPECTIVA ECONÓMICA
Desde la perspectiva de la teoría económica hay una coincidencia total con la perspectiva histórica. La ventaja de la insípida perspectiva económica es que nos permite decir la verdad, sin necesidad de que usen nuestras ideas para distorsionar la veracidad de nuestras afirmaciones. El aumento del gasto público como impuesto presente o futuro es lo que se conoce como la equivalencia ricardiana. ¿Qué nos explica la equivalencia ricardiana?

“Esta dice que cualquier cambio en el timing de los impuestos —es decir, por ejemplo, bajar transitoriamente impuestos hoy, financiar con deuda y repagar- la en el futuro— no tiene efectos sobre la economía, en particular sobre las decisiones del público. De ahí que se pueda argumentar que, a partir de esta idea, la deuda pública no es riqueza agregada, ya que al final hay que pagarla, y lo que la restricción del gobierno nos dice es que este pago se hará con impuestos.” (DE GREGORIO, 2007, pág. 148)

 Uno de los conceptos claves frente al recaudo es el déficit fiscal. El déficit fiscal puede expresarse matemáticamente la siguiente manera:


Si es negativo se considera superávit fiscal e implica que los gobiernos o estados están gastando menos de lo que les ingresa lo cual es positivo en términos de finanzas públicas. Hay diversas distinciones sobre los distintos niveles de déficit pero la noción es clara. Ahora bien, ¿Qué pasa si el estado para crecer gasta más de lo que recauda? ¡Tiene necesariamente que endeudarse! Ya vimos que lo que enseña la equivalencia ricardiana tarde que temprano tiene que pagarse con más impuestos. Esto nos permite inferir la restricción presupuestaria del gobierno [o sea que el gobierno no tiene dinero absoluto en el tiempo] a lo largo del tiempo así:


Esto quiere decir que el valor actual de todos los gastos más el valor actual de la deuda deben ser financiadas completamente por el flujo proyectado de impuestos. El último término significa que la deuda al final de los periodos tiene que tender a cero o decrecer lo que nos permite reexpresar así:



Esto quiere decir que el valor actual de todo el flujo de impuestos, menos el flujo de gastos debe ser igual al valor actual de la deuda. Esta restricción presupuestaria intertemporal es la que impide que haya un déficit elevado y que la deuda no crezca a una tasa mayor que los intereses. Por tal motivo, habrá un momento que para suplir la restricción presupuestaria del gobierno habrá que aumentar los impuestos o estaríamos violando la condición de solvencia.

Mejor dicho, a los estados también los pueden enviar a “cobro jurídico” por no pagar, por eso a la larga tendrán que pagar sus deudas. Pero ¿cómo pagan las deudas que son el precio del “bien común”? O vendiendo bienes propios o aumentando los impuestos porque es la única fuente de ingresos.

3. IMPUESTOS EN EL ESTADO COLOMBIANO.
Hemos visto que históricamente los afanes expansionistas estatales generan como consecuencia directa o indirecta el aumento de los impuestos. Y Colombia está en un afán estatal expansionista. Desde esta perspectiva, el flujo de gastos del estado colombiano se espera que crezca en los próximos años las razones son entre otras las siguientes:

-          Las indemnizaciones a las víctimas del conflicto, el Consejo de Estado maneja la tesis de la reparación integral bastante costosa.

-          El estado social de derecho que significa estado de bienestar en términos económicos y consiste en que el estadovela por el denominado “mínimo vital” de los individuos.

-          Esto implica que los gastos en salud, educación, recreación, entre muchos otros sean prestados por el estado.

¿Quién paga esos costos? Derivado de la tesis del “mínimo vital” pronto caeremos en un pasivo pensional elevado, subsidios al agro, al desempleo –y al empleo-, subsidios a los ricos y a los pobres [que paga la clase media] que el estado tendrá que pagar con dinero recaudado de más impuestos.

Previamente no citamos las corrientes que fundamentan los impuestos. Este es el momento. Si usted cree en el estado social de derecho tendrá que afirmar que el pago de los impuestos es vital para el sostenimiento de labores estatales como el “gasto público social”. Que es vital una estructura impositiva para redistribuir los ingresos de las clases más favorecidas a las menos favorecidas y que eso es labor del estado. En la teoría eso suena hermoso pero en la práctica es más impuestos para todos.

Como el estado depende de una gran burocracia y ya no solamente se paga la corte del rey [por aquello de los “frenos y contrapesos”] sino la de Presidencia, Fiscalía, Procuraduría, Defensoría del Pueblo, Banco de la República, Gobernaciones, Alcaldías, Superintendencias, Establecimientos Públicos, Comisiones de Regulación, la DIAN, altas Cortes, Congreso –con altos salarios- con su aparato administrativo y todos aquellos extraterrestres administrativos como le decía una profesora (que creía en el estado) que podrían crecer ad infinitum. ¿Cómo así que pueden crecer ad infinitum? Pues infinitas son las formas de corrupción luego para preverlas se necesitan infinitos entes que también pueden ser corruptas: ¡una bonita serie de crecimiento geométrico! Es claro, con la burocracia que el estadoes un ente redistributivo, toma el dinero de las clases medias para dárselo a las altas o sea congresistas, funcionarios públicos, entre otras. Efectivamente ¿quién paga los impuestos? A más impuestos ¿quién pagará más si nadie quiere pagarlos?

4.  REFLEXIÓN FINAL
Uno de los objetivos del trabajo de grado no le gustaba al asesor, pero fue propuesto por el asesor [estos académicos no se ponen de acuerdo]. El objetivo es el siguiente:

“Denunciar el peligro político y jurídico de que la retención en la fuente crezca a un ritmo porcentual superior al del ingreso de familias y empresas.”

En este objetivo soy claro, mis afanes académicos tienen que tener una finalidad que sirva a la gente, sino escribiré buena carreta. De alguna manera hay algo entre este objetivo y esto que son notas previas a la investigación que en términos académicos llaman “marco teórico”. Sin embargo, el objetivo no se sobrepone a la conclusión que es levemente distinta: para reducir impuestos se requiere reducir el estado. Y ¿por qué es bueno reducir el estado? Pregúntese ¿De qué le sirve el estado? Y ¿Cuánto le cuesta el estado? Y con un análisis práctico quizás sepa la respuesta.

Referencias.

ARISTÓTELES. (s.f.). LA POLÍTICA (Vol. 8). La Editorial Virtual. Recuperado el 28 de 11 de 2013, de http://www.laeditorialvirtual.com.ar/pages/Aristoteles_LaPolitica/Aristoteles_LaPolitica_000.htm

COY-FERRER, J. (1975). THOUREAU, HENRY DAVID. En E. RIALP, GRAN ENCICLOPEDIA RIALP (Vol. 22, págs. 413-414). Madrid: Ediciones RIALP S.A.

DE GREGORIO, J. (2007). MACROECONOMÍA. TEORÍA Y POLÍTICAS. Santiago de Chile: Pearson. Recuperado el 28 de 11 de 2013, de http://www.degregorio.cl/pdf/Macroeconomia.pdf

LAMAS, F. A. (s.f.). CARLOS PARMA. Recuperado el 28 de 11 de 2013, de Francisco Suarez y el impuesto injusto: http://www.carlosparma.com.ar/index.php?option=com_content&view=article&id=172:francisco-suarez-y-el-impuesto-injusto-&catid=47:filosofia-del-derecho&Itemid=27

NEW INTERNACIONALISM. (01 de 10 de 2008). NEW INTERNACIONALISM. Recuperado el 27 de 11 de 2013, de A short history of TAXATION: http://newint.org/features/2008/10/01/tax-history/

NIETZSCHE, F. W. (s.f.). ASÍ HABLÓ ZARATHUSTRA. España: Euroliber S.A.

SPOONER, L. (1882). NATURAL LAW OR THE SCIENCE OF JUSTICE. Boston. Recuperado el 28 de 11 de 2013, de http://lysanderspooner.org/node/59


 OTROS ENLACES QUE TOCAN EL TEMA DE LOS IMPUESTOS



          Â¿LA POBREZA PROVIENE DE LA FALTA DE DINERO?        
Para un niño es es fácil de creer que la pobreza proviene de la falta de dinero. Si a uno le dicen, "los ricos tienen mucha plata, los pobres poca plata" pues la inferencia lógica sería "pues la pobreza proviene de la falta de dinero". Adicionalmente si uno medio piensa el asunto, podría fácilmente concluir, que el problema se resolvería haciendo billetes para los pobres. Podríamos citar el intento de chiste "había una persona tan pobre, tan pobre que solo tenía plata" para explicar la falsedad de esta situación. Eso sin perjuicio que si el estado produce dinero, prende la maquinita de billetes, lo que está haciendo es una forma muy sutil de robo, como ya lo denunciaba Juan de Mariana en su libro sobre la mutación de la moneda. Una persona con dinero en una isla desierta cabría en el ejemplo del intento de chiste. Efectivamente ¿de qué me sirve tener un millón de dólares si no lo puedo cambiar por comida, bebida, refugio?

Es así como para responder a la pregunta, la respuesta tajante es NO. La pobreza es la insatisfacción de ciertas necesidades, diferentes para cada persona, en cada situación, contexto. El dinero, en un contexto social, puede cambiarse por cosas que satisfagan necesidades pero no puede hacer que se produzcan esas cosas. Ni la expansión de la oferta monetaria, ni los créditos bancarios, ni nada puede hacerse si nadie produce. Muy por el contrario, si se descubre una forma de vivir -y las personas la acogen- que facilite el intercambio sin dinero y producen mucho, no necesitarán dinero para satisfacer sus necesidades. El dinero es un excelente invento para agilizar los intercambios, pero bien pueden existir otros medios para agilizarlo. Sin embargo, las tesis económicas actuales que se centran en un monetarismo y la centralización de la producción de dinero en los estados convierten al dinero en fin y no en medio. Efectivamente mi querido Keynes, haciendo billetes no vas a calmar el hambre de los pobres, pero sí la perversa avaricia de los gobernantes. 

¿ESCLAVOS DEL DINERO?
La economía actual pretende someter y alienar mediante un exagerado culto al dinero. Es que la ciencia económica actual produce la alienación de la persona humana (Véase GARCÍA MUÑOZ, 2011). La visión económica actual parte de la idea que el ser humano es netamente un número que consumo y que la producción está fatalmente determinada (Véase GARCÍA MUÑOZ, 2011). Adicionalmente, al ser el dinero el medio por el cual se mueve el mercado, pues controlar el dinero en el mercado es una alternativa para que ese personaje adicto al consumo (la persona en su reducida visión) no dañe a los otros consumidores... más bien no deslegitime el poder del estado. Es así como la tesis de derecho y economía del santo de hoy 28 de Enero del profesor José Alpiniano nos centra en un punto esencial: "Esta visión aliena la personalidad humana en tanto que somete al hombre al imperio fatal de algo creado por él mismo: el mercado." (GARCÍA MUÑOZ, Derecho y Economía según Tomás de Aquino, Tesis Doctoral, 2011, pág. 131). Y si el mercado surge de intercambios con dinero, en la actualidad nuestra personalidad humana se encuentra alienada al dinero. 

Así ve la economía actual
al ser humano.

Mediante la oferta dineraria, la producción de billetes, intervenciones macroeconómicas en las tasas de interés, control del aumento de los salarios, el incentivo o desincentivo de créditos para consumo, etc., no vamos a lograr satisfacer nuestras necesidades. De hecho, yo he vivenciado eso en términos prácticos. Una situación económica compleja no se resuelve por más sumas, restas, multiplicaciones o divisiones que se realicen con el dinero que se tiene. Es volver al problema que hablábamos en SOBRE EL DINERO un millón de dólares en una isla desierta no sirven para nada.

La alienación económica, es decir, la confusión del dinero con la riqueza, se refleja también en el management o administración. Que el dinero al ser medio de cambio de todas las mercancías mida la riqueza no significa que sea la riqueza en sí. Es como decir que un edificio de 30 metros son 30 metros, no es un edificio. Sería como decir que el avalúo de ese edificio, sea ese edificio. Veamos cómo se ve esta problemática en el management.

 De acuerdo con Hamel y Prahalad (Prahalad QEPD es, entre otras, el creador de la idea "mercadeo en la base de la pirámide" que es aplicada, entre otros, por el profesor César Betancourt de la Universidad de la Sabana en el área de mercadeo) el rendimiento de una inversión se explica de la siguiente manera: "Ahora bien, el rendimiento de la inversión (o rendimiento de los activos netos, o rendimiento del capital empleado) tiene dos componentes: un numerador, que es la renta neta, y un denominador, que es la inversión, los activos netos o el capital empleado." (HAMEL & PRAHALAD, 1999, pág. 44). La estrategia común en la mayoría de los directivos es la reestructuración empresarial, ¿en qué consiste? En disminuir el nivel de gastos, costos y generalmente, la primera idea que se le viene a la cabeza a cualquiera -por más socialista que hubiese sido en su juventud- son los recortes de personal. ¿Por qué esta estrategia? Precisamente por un auto-engaño matemático, si recorto lo que pago en salarios podré, en mi división, ver cómo aumentan los rendimientos y en últimas auto-engañarme creyendo que por esto soy más rico. 

¿Esclavos de la economía?
Pero ¿Qué consideran los autores Hamel y Prahalad frente a esa táctica de mejorar los rendimientos? Frente a esto plantean los citados autores lo siguiente: "A pesar de que quizás ha sido inevitable y en muchos casos loable, la reestructuración ha destruido vidas, hogares y comunidades en nombre de la eficacia y de la productividad" (HAMEL & PRAHALAD, 1999, pág. 44). Si una reestructuración pretende mostrar un número que dice que el rendimiento aumenta, pero destruye familias, hogares, etc., ¿no es eso muestra de la tesis central de Alpiniano sobre cómo la economía nos aliena? ¿Aumento de acciones a costa de destruir vidas? No es que la reestructuración sea mala en sí, sino que en muchos casos no es justa. Por ejemplo, cuando se despiden a tres empleados que trabajan intensamente y se deja a un cuarto con ese trabajo por el mismo salario ¿podemos decir que se aumentó la productividad? Dicen Hamel y Prahalad "la gestión del denominador [o sea reestructuración y recorte de personal] es un atajo contable para aumentar la productividad de los activos" (HAMEL & PRAHALAD, 1999, pág. 45). 


A pesar de que en apariencia los rendimientos aumentan, simplemente por un "atajo matemático", esto no es necesariamente un bien para la empresa: "la reestructuración raramente da como resultado una mejora fundamental de la empresa. En el mejor de los casos sirve para ganar tiempo." (HAMEL & PRAHALAD, 1999, pág. 47). Es así como ese autoengaño bien podía producir efectos al corto plazo, pero no a mediano o a largo plazo en la valoración de las acciones:

"Un estudio realizado entre dieciséis grandes empresas estadounidenses que llevaban, como mínimo, tres años en reestructuración, reveló que, aunque la reconversión normalmente mejoraba el precio de las acciones de la empresa, dicha mejora casi siempre tenía carácter temporal. Tres años después de iniciar la reestructuración, el precio de las acciones de las empresas encuestadas era, en promedio, incluso inferior a la tasa de crecimiento anterior al inicio del procedimiento de reestructuración."  (HAMEL & PRAHALAD, 1999, pág. 47)

Sin embargo, no se trata de condenar a la reestructuración, que es una alternativa necesaria cuando en la empresa se forman estructuras injustas que limitan su eficiencia. Por ejemplo, que en una empresa de familia el hijo gerente gana lo mismo que su hermano que realiza una gestión operativa es un claro ejemplo de estructura injusta. En ese caso hay un desorden que no da al aporte del trabajo de cada uno su justa retribución. Además, debe ser posible reestructurar esa estructura injusta. A veces, como en el caso de las fusiones empresariales es necesario tolerar -por un tiempo- esa estructura injusta porque de lo contrario se quebraría y sería más injusto aún con todos. 

CONCLUSIÓN INCONCLUSA.
Tanto desde tesis doctorales como del management encontramos que se suele alienar al ser humano a costa de los números de la medida. Confundimos la riqueza con una forma de medirla y por eso, manipulamos su medida en aras de ver mejores resultados. La riqueza no es su medida. ¿Qué es entonces la riqueza? ¿Qué es entonces la pobreza? Para ello escribiremos dos cortos escritos uno sobre cómo el exceso de dinero se utiliza como robo y no genera riqueza y dos sobre lo que es la riqueza.

OTROS ARTÍCULOS
1. EL ALISPRUZ : ¿POR QUÉ SURGE EL DINERO?
2. EL ALISPRUZ : SOBRE EL DINERO
3. EL ALISPRUZ : ¿QUÉ PASA SI HACEMOS BILLETES?

BIBLIOGRAFÍA


GARCÍA MUÑOZ, J. A. (2011). Derecho y Economía según Tomás de Aquino, Tesis Doctoral. Pamplona, España: Universidad de Navarra. Facultad de Filosofía .

HAMEL, G., & PRAHALAD, C. K. (1999). Compitiendo por el Futuro. En H. B. Press, La gestión en la incertidumbre (R. Aparicio Aldazabal, Trad., págs. 37-56). Bilbao, España: Ediciones Deusto S.A.

PUBLICIDAD EXTERNA



          Workshop de Introdução Alimentar com Fabiolla Duarte do Blog Colher de Paú        








Encontro que visa discutir e refletir sobre de que maneiras é possível uma abordagem humanizada no momento da Introdução de alimentos sólidos para bebês.
Baseado em alguns conceitos abordados pelo pediatra espanhol Carlos Gonzáles, pela terapeuta argentina Laura Gutman, teorias sobre alimentação baseadas na Antroposofia, Macrobiótica, Alimentação Viva e noções básicas de Nutricionismo. Observação humana a partir da Antropologia, Psicologia e Educação, e tudo o mais do que virá a partir do relato biográfico gastronômico dos inscritos.

Quando fazer: em qualquer momento antes, durante ou depois da fase de introdução de alimentos sólidos. Para quem participa antes, é uma ótima oportunidade para se preparar para esse momento, com tempo para digerir novos conceitos. Para quem participa depois da fase de introdução ter começado, é muito útil para auxiliar nos desafios que surgem pelo caminho. Para quem participa muito depois, ainda uma excelente oportunidade para pensar em profundidade sobre alimento, comportamento e vida familiar.

Programa:

* Prontidão - sinais fisiológicos e comportamentais para a introdução de sólidos;

* Relações entre apetite, fome e mundo lúdico;

* Memória – de que forma a Introdução de Alimentos afeta nossa relação com alimentação na vida adulta;

* A comida da paixão – a comida que envolve todos os sentidos para além do apetite;

* Alimentação adulta x Introdução de Alimentos – é possível coerência?

* Comida prazer X comida saúde – onde mora o ponto de equilíbrio?

* Por onde começar - o que pode e o que não pode: dicas sobre os primeiros alimentos a serem oferecidos;

* Abordagem - maneiras eficientes de oferecer alimentos sólidos;

* Amamentação X alimentação de sólidos - desmame ou amamentação prolongada?

* Começar pelo doce ou salgado, suquinho, leite artificial, sal, açúcar, carne, vegetarianismo: sim ou não? – mitos da pediatria;

* Papinhas X pedaços, colher X mãos – dicas de cozimento, vantagens e desvantagens e a importância da experiência sensorial na Introdução de Alimentos;

* “Meu filho não come, e agora?” – reflexões sobre cada caso;

* Horários para cada refeição – como organizar as refeições familiares;

* Organização doméstica – sobre a ansiedade da mãe e as novas tarefas domésticas;

* Volta ao trabalho e Introdução de Alimentos – como conciliar trabalho e Introdução de Alimentos;

* Dicas básicas sobre nutricionismo – combinação de alimentos, cozimento e o prato completo;

* O cereais e leites vegetais – um pouco sobre cada cereal e dicas de como fazer leites vegetais em casa;

* Critérios alimentares – a escolha de uma dieta alimentar familiar e aspectos de cultura e tradição pessoais.

Valor R$197,00 individual ou R$350,00 casal

Exibirei alguns trechos de filmes para inspirar nossa reflexão.

Aqui alguns textos meus sobre Introdução de alimentos.
http://vilamamifera.com/alimentoecomportamento/category/introducao-de-alimentos/

Informações adicionais: costuracoletiva@gmail.com

ou pelo 011 9 8467 2960 ou na loja Ninho 19 32892763
PUBLICAÇÕES

          The Following        
  • Media Blog Project.
  • Topic #2: TV as a cultural mirror.

     I watched The Following episode 2 "Chapter Two", which aired on FOX Monday, January 28th at 9:00 pm.  The Following is a drama and suspenseful TV show that stars Kevin Bacon who is a former FBI agent that has been asked to come back for a very large case involving a murderer that he put away for life who has amassed a "cult following" to do his dirty work for him now.  In this particular episode, Dr. Joe Carroll (James Purefoy), who Ryan Hardy (Kevin Bacon) has put in jail previously, has had his "followers" kidnap his his son from his ex-wife and Hardy and the FBI agents and police officers he is consulting with are looking for him.  Hardy discovers the house where the "followers" meet and they reconfirm that all of Carrolls symbolism and antics are based off Edgar Allen Poe's writings.  In that house, Hardy was attacked by a man wearing a Poe mask and later at the end of the episode we see a masked Poe man light a man on the street on fire and run away.
     The ads that aired during this episode are pretty much the stereotypical ads that you would expect.  There were ads for cars and car dealerships; including Honda, Kia, Chevrolet, Ford, Subaru, and Buick.  There were also ads for different foods like Lean Cuisine, Campbell's, and Weight Watchers meal plans.  In the category of online dating, notable services were Christian Mingle, Match.com, and eHarmony.  Major commercials that were most prominent and were aired multiple times included Ford, Honda, Chevrolet, Comcast, Direct TV, Kiefer Kia, John and Phil's, Guaranty in Junction City, beer brands like Coors, Heineken, and Budweiser, and of course there is always the Fox News ads that feature their anchors for around 15 seconds each time a commercial ends to continue with the program.  These commercials all fit the demographic that the TV show is trying to reach.  Younger adults through mid-life adults.  These are all people who have cars or will by buying new cars in the future, they may be insecure about their weights or just want some food that is not only tasty but healthy or a viewer who is single and wants to find somebody.  The commercials are definitely spot on for their target audiences as far as I am concerned. 
     The Following is meant for more mature audiences and was rated TV 14 for language, images, sexual situations and the like.  The actors and actresses were dressed appropriate for our time period and the authority figures has appropriate looking uniforms.  Most of the men who were FBI agents wore suits and the women wore suits as well.  Compared to other shows like this one, I would say that dress and mannerisms are identical and what you expect and would want to see for a drama/suspenseful TV show.  The main thing, for me, that makes this show different than others is the fact that the whole show is based around an ex FBI agent and the man he put away years before and the this guys "followers" and how they are operating.  I have never seen a show like this one in terms of that.
     A major stereotype that occurred in this particular episode was about police officers.  There were several cuts to them just standing around and drinking coffee around the house they were supposed to be guarding.  Same thing happened when they were shown at the scene of the murders in the sorority house after they had come in and done the initial reports on the situations.  The other stereotype that I noticed, and probably the most prominent, is that the wife of Carroll, who is an attractive woman, had an affair with Hardy who was the main FBI agent that was there when her husbands case was first taking place.  This refers to her being maybe a weak and needy woman who has lost who she thought was her best friend and trusted lover and in walked tough, strong, independent agent Hardy who was not married.  These kinds of relationships always happen in TV shows and movies and aren't always the reality of true real life.  Other than these two outstanding stereotypes, I think the directors and producers have done a pretty good job at trying to be new and different in the ways of how the TV show operates within the story lines and isn't too predictable.  If I were a viewer from another country, I would not think much of the shows Americans watch because I am sure there are many good dramas that air in other country's.  In fact, The Following actually airs in the U.S. plus another 17 countries.  If I were not from here, based on the commercials, I would say that there is a problem with people being overweight and single and everybody is buying new cars.
    I do not watch many crime/drama/suspense TV shows but I would say that this one, as of now (it's only aired two episodes total so far) is a TV show that I am expecting to be kept on FOX and be aired for at least several seasons or until the story is wrapped up and concluded.  What really keeps me interested in this show is that it's not as predictable as other similar shows.  Usually I am able to predict what can happen in a TV show after 15 minutes or so.  I am not so accurate with this one.
    I would tend to agree with the 7.5 stars that IMDB gave them.  If I never watched it I wouldn't feel like a part of my life was missing but if I just stopped watching I would be very curious as to what happened in each episode.  My girlfriend watches the this show with me and what she likes most about The Following is all the plot twists.  I definitely agree.  It's a very engaging TV show.  One thing that all TV shows like this one do is end with a cliff hanger.  That cliff hanger keeps you wondering all week what is going to happen in the next show and that brings back viewers from previous weeks.
    I have seen every single episode The Following! Wait, that's only two episodes.  But still, it is one that I am going to have to add to my list of shows that I try to keep up on.  I am not a user of social media so I don't follow the show on Twitter or on Facebook but I have visited the shows page on FOX and the opening sentence on their page paragraph about the show is very interesting.  "The FBI estimates there are currently up to 300 active serial killers in the United States."  This is a very bold statement and scary statistic.  One thing that the average viewer may not know is that Hardy wrote a book sharing the details of his previous investigation and other factoids about his case regarding Carroll.  If a book like this came out or is already out here in real life, that would be a very interesting and possibly quite controversial book.
    Overall, I would recommend The Following to most normal people who enjoy good TV shows that keep the viewers eyes glued to their TV.  Upon further examination, one could come to the conclusion that TV programs, the ads run, and the particular channel or station that is airing all have very close relation and share the same views and interests. 
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          Showing Abbility Names as emote - the only means i know...        
the only means i know how to trigger it from the actionbar is by macro, maybe you mistyped the command there. and as i wrote this, i assume you were using rcollhandler("Strike test") or the rcollhandler(<emote>) function, from a macro try putting /script rcollhandler("Strike test") for it. IF that works i will edit to better clerify.(Interface: RollCraft | Bug: Showing Abbility Names as emote)
          What is Focus Stacking?        
How do I get more of my shot in focus while doing close-up photography? A common problem photographers face when doing macro/close-up photography is shallow depth-of-field (focus). The closer your […]
          Diminishing Obesity's Risks        

Mouse data suggest that, properly managed, obesity can be benign.

Food for Thought

Health-care professionals typically refer to an extremely heavy person as being morbidly obese. The term reinforces the idea that the individual is at high risk of diabetes, fatty-liver disease, and heart attacks. Researchers who have been working with mice now report that certain chronic diseases don't have to be consequences of obesity.

The team accomplished the disconnect by tricking the animals' bodies into storing all their excess fat within their fat cells, or adipocytes.

That's not what the bodies of rodents—or people—typically do. Initially, excess lipids—fat—are stored in these cells, making up what's called adipose tissue or simply body fat. These deposits lie primarily in the breasts, belly, and thighs. However, once adipocytes fill up, new storage sites take up the overflow. Those new depots usually develop in muscle and the liver.

Of those two depots, the liver is more dangerous when it becomes fatty. Straightforwardly named, fatty liver disease can arise and lead eventually to hepatitis, cirrhosis, and death.

A drop in the hormone called adiponectin is the body's signal to store fat outside adipose tissue. Sometimes referred to as the starvation hormone, adiponectin normally remains high in lean animals. With obesity, however, blood concentrations of the molecule fall.

Philipp E. Scherer of the University of Texas Southwestern Medical Center and his colleagues reasoned that keeping adiponectin concentrations high might fool the body into making extra adipocytes instead of sending surplus fat to muscles and the liver.

The team has now investigated the hypothesis in a strain of mice that make copious adiponectin regardless of how fat they become. In the Sept. 4 Journal of Clinical Investigation, the researchers report that as the novel mice mature, they become unbelievably huge. Indeed, muses Scherer, these are "the fattest mice ever reported," with fat comprising 60 percent or more of their body weight.

As hoped for, the mice deposit all their excess fat in adipose tissue. Also in sharp contrast to other obese mice, the high-adiponectin animals develop no signs of diabetes. They also avoid a metabolic disorder known as syndrome X, which puts animals, including people, at high risk of heart disease (SN: 4/8/2000, p. 236).

So, although these barely mobile, blubbery mounds of flesh look like wrecks, they don't appear to be at high risk for several chronic diseases associated with obesity, Scherer told Science News Online. Actually, he says, from the preliminary data, the mice "appear perfectly healthy."

He suspects that there's a lesson in this for investigators of human-obesity treatments. Drugs exist that raise adiponectin values in even overweight individuals. Most, like pioglitazone (Actos) and rosiglitazone (Avandia), are prescribed to treat diabetes. However, data suggest these drugs also reduce the buildup of fat in the liver.

Unfortunately, diminishing health risks in morbidly obese people may require far more than just supersizing their treatment with the diabetes drugs—especially since data reported earlier this year linked rosiglitazone with an increased risk of heart attack (SN: 6/23/07, p. 397).

Fat signals

Tissues throughout the body communicate on a regular basis via signaling hormones. Adiponectin is one of those messengers released by adipocytes to inform the rest of the body about how full the fat cells are. If they aren't full, Scherer explains, the cells pour out copious adiponectin. The body then responds by directing its fat into those cells for storage. As adipocytes fill with lipids, they turn down the adiponectin signal, telling the body that it's time to find new fat depots.

Adipocytes release several other messengers, among them leptin. As lipids swell the adipocytes, the cells crank up production of this hormone. Once released into the bloodstream, leptin circulates to the brain, where it offers a status report on how full the fat cells are. If leptin signals that there's plenty of fat on hand, a healthy body not only experiences satiety but also reduces its food intake and burns more calories.

At some point, a spontaneous mutation in mice led to a strain of animals that lacked the ability to make leptin. The resulting rodents, always hungry and primed to store—not burn—any excess energy consumed, inevitably become obese. Scherer's group worked with this strain and engineered it also to make extra adiponectin. The new mice typically produce about twice as much adiponectin as a normal, svelte rodent does. This excess is comparable to what can occur when people take certain diabetes-controlling drugs.

In the new study, the researchers compared normal, lean, leptin-producing mice with leptinfree, obese ones and the new leptinfree-but-high-adiponectin animals. By adulthood, the new mice far surpassed the girth of the original obese line. But instead of having high blood sugar and insulin concentrations—characteristics of the original obese animals that mimic type-2 diabetes symptoms—the new megafatties exhibited normal insulin and blood-sugar values. In fact, Scherer says, the engineered animals had about the same insulin characteristics as healthy, lean mice.

"That was a real surprise," he concedes—"that the [new] mice could get so fat and yet remain very healthy, metabolically speaking."

One solution: More fat cells

Most people are like obese mice, chronically taking in more calories than they burn, Scherer says.

Lipid buildup in the liver is "really the driving force for insulin resistance," a metabolic change that precedes the development of diabetes, notes Scherer When this develops, the body makes normal amounts of insulin, but finds itself increasingly unable to use it. The end result: Too little insulin is used to move energy into cells, leaving high concentrations of sugar in the blood.

The new study with high-adiponectin mice shows that "if you can overcome this block of overexpansion of adipose tissue, there is no need for excess calories to deposit as fat in the liver," Scherer says. Instead, fat can accumulate where it does the least damage, "in the professional fat-storage cell, the adipocyte."

But Scherer doesn't want to say that excess calories are benign when they wind up in fat cells. Bulging adipocytes send out a number of inflammatory compounds (SN: 2/28/04, p. 139). It's not yet clear how important a role these compounds may play in chronic disease, but some have been linked to diabetes. Moreover, extra weight may strain an animal's joints and even its heart. So, it's premature to give a clean bill of health to mice whose physiques rival that of Jabba the Hutt.

Still, Scherer argues, "from a qualitative point of view, these [new] mice are relatively healthy." Indeed, he says, what happens in the animals' tissues may explain why some very obese people are able to retain good insulin sensitivity and dodge the diabetes bullet.

People who develop diabetes as adults tend to put all of their fat into a few big, inflammation-prone fat cells. However, some people's bodies employ a different strategy, Scherer says. They pack relatively small quantities of fat into an ever-proliferating number of fat cells, ones that never seem to undergo stress-induced inflammation. This approach is triggered by a "local overexpression of adiponectin in adipocytes." That, in turn, switches on production of a key signaling molecule—PPAR-gamma—that serves as a master switch "governing how many fat cells we have," he explains.

"None of this is an endorsement for obesity," Scherer cautions. "But it shows that if you can expand your fat stores in a healthy way to keep up with your caloric intake, this will improve insulin sensitivity."

Overall, he argues, "the best strategy is to eat less and exercise more. But for the many of us who continue to take in more calories than we burn, it would be better to expand our fat-cell numbers than to store excess lipids in other tissues. That's our take-home message."


If you would like to comment on this Food for Thought, please see the blog version.

Citations

Philipp E. Scherer

Touchstone Center for Diabetes Research

Department of Internal Medicine

University of Texas Southwestern Medical Center

5323 Harry Hines Boulevard

Dallas, TX 75390-9077
Further Reading

Dormandy, J.A., et al. 2005. Secondary prevention of macrovascular events in patients with type 2 diabetes in the PROactive Study (PROspective pioglitAzone Clinical Trial In macroVascular Events): A randomised controlled trial. Lancet 366(Oct. 8):1279-1289. Abstract available at [Go to].

Harder, B. 2007. Fixes for fatty liver. Science News 171(March 3):136-137. Available at [Go to].

Pawlak, D.B., et al. 2001. High glycemic index starch promotes hypersecretion of insulin and higher body fat in rats without affecting insulin sensitivity. Journal of Nutrition 131(January):99-104. Available at [Go to].

Psaty, B.M., and C.D. Furberg. 2007. Rosiglitazone and cardiovascular risk. New England Journal of Medicine 356(June 14):2522-2524. Available at [Go to].

Raloff, J. 2007. Fattening carbs—Some promote obesity and worse. Science News Online (Sept. 29). Available at [Go to].

______. 2007. Infectious foie gras? Science News Online (June 30). Available at [Go to].

______. 2007. Super-size mice—Fast food hurts rodents. Science News Online (June 9). Available at [Go to].

______. 2004. Inflammatory fat. Science News 165(Feb. 28):139-140. Available at [Go to].

______. 2000. The new GI tracts. Science News 157(April 8):236-238. Available at [Go to].

Seppa, N. 2007. Diabetes drug might hike heart risk. Science News 171(June 23):397. Available at [Go to].

          The Grinder deja de ser The Grinder        
Para ser un Smash TV o más bien un Hunter: The Reckoning, posiblemente el mayor logro de High Voltage junto a The Conduit. Me da en la napia que en HV no saben bien qué hacer con The Grinder: primero iba a ser el Left 4 Dead de Wii, hace escasas semanas era multiplataforma siendo muchísimo más ambiciosos y ahora deja de ser un shooter en primera persona para ser un Gauntlet en HD con zombies y hombres lobo ( si fueran crepusculianos se convierte en GOTY al instante ). Y lo mejor de todo: si al principio Wii tenía la exclusiva para más tarde ser una versión más que se retrasaría un año respecto lo previsto ( para que salieran todas a la vez ), ahora Wii se cae del carro.

HV dice tener la versión de Wii parada hasta nuevo aviso, lo que en este mundillo viene a ser el eufemismo de patitas a la calle. Nos quedamos sin L4D wannabe, nos quedamos si The Grinder smashtiviano, nos quedamos sin los chochocientos juegos genéricos de Wiiware que HV sacó mientras desarrollaba The Conduit para rentabilizarlo ( salieron sólo en Norte América ), Gladiator A.D. ha dejado de ser el juego de Roma ( con incluso el mismo compositor de la série, Jeff Beal ) para ser un tutticolori de dioses antiguos bañados en un filtro Nickeloedon ( últimos vídeos de la GDC aquí ). High Voltage deja escapar su oportunidad de ser algo. The Grinder deja de ser The Grinder para ser Animales de la Muerte sin el toque cartoon, otro juego que se ha perdido en el caos de Nosfinger y compañía.



          Shame on you, Casamassina        

Casamassina ha vuelto a liarla. No bastan de Halos para DS, Kid Ikarus que nunca se anuncian; el redactor de IGN todavía tiene presente el doloroso frecuerdo de Wii Music y su música en MIDI, que el su live blog del evento de Nintendo soltó que en el trailer de Galaxy 2 sonaba una banda sonora MIDI, nada orquestral. Él abre la boca, y todos lo repiten. La noticia ha dado la vuelta a la Red y casi no hay lugar dónde no se comente lo de 'Galaxy 2 MIDI', solo porque un redactor, que supuestamente se había ido de la sección de Wii del macro-portal por un cambio de aires ( y algo harto de Nintendo ), no estaba muy al caso. Ha tenido que venir Nintendo America a corregir a Casamassina y su meada fuera de tiesto. Nunca un MIDI me había sonado tan bien.










          Trump, Macron Look to Past, Future as U.S.-French Alliance Moves Ahead        
Trump, Macron Look to Past, Future as U.S.-French Alliance Moves Ahead By Jim Garamone DoD News, Defense Media Activity ...

This is an article summary only. Click on the article's title to enjoy the complete article
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          When words fail, MUSIC speaks        



 When words fail, music speaks



Haven't been listening to music on headphones for a while now, but as I have been riding the bike, running and going to gym pretty often, this is a must have. First of all because I don't want to listen to Amy Winehouse while I workout at gym. I tend to fall asleep:))) , I like her music, but not at gym!
So here is a casual outfit, perfect even for riding the bike, with my new Zara sneakers of course!


 Nu am mai ascultat de mult timp muzica la casti, pentru ca imi puneam curu in masina si dadeam drumul la player. Nu e o treaba grozava, si am decis sa imi schimb putin stilul de viata, cat imi permite timpul. Merg mai des cu bicicleta, respectiv la sala ca e destul de aproape cat sa nici nu pierd timp pe drum, ba chiar ajung mai repede asa decat cu masina. Asa ca muzica in casti imi da un plus de energie, stare de bine, si  e vital cand la sala se aude in boxe Amy Winehouse ca azi de exemplu. Imi place muzica ei, dar nu la sala ca ma ia somnu....
Revenind la tinuta mea, foarte casual , cu noii mei tenisi de la Zara, cu care as pleca pe bicicleta  imediat, daca nu ar fi noapte si frig.


 


Don't forget about the Giveaway!

One of my favorite gym tracks

Nickelback-Burn it to the ground
 




 Top: Here
Shorts: no name
Sneakers: Zara
Necklace: Here
Sunnies: Ray-Ban






Photos by Veres Krisztian


          MPEG decoding, state save/restore, NRF emulation, ...        
It's been a while since I wrote anything here, but that doesn't mean that work on CD-i Emulator has stopped. On the contrary, a lot has happened in the last month and describing all of it will take a very long blog post. So here goes…

Last January an annoying date-checking bug was found which forced me to release beta2 somewhat earlier than anticipated. After that I did no further work on CD-i Emulator. There were various reasons for this, but the most import one was a very busy period at my day job.

After a well-earned vacation I resumed CD-i related work in early August. First I spent a few days on Walter Hunt's OS-9 port of gcc, the GNU C/C++ Compiler that I found in October of last year. Getting it working on a modern Cygwin installation was interesting and something very different from my usual line of work. The result could be useful for homebrew activities: it's a much more usable C compiler then the Microware OS-9 one and supports C++ as a bonus. I intend to use this for ROM-less emulation validation some day; see also below. The sources need to be released but I haven’t gotten to that stage yet.

After that I had another go at the Digital Video cartridge emulation. At the point where I left off last year the major stumbling block was the presumed picture / frame buffering logic of the MPEG video driver. When the appropriate interrupt status bits are set the driver starts copying a bulk of status information to an array of device registers and it will sometimes also read from those registers. This is all controlled by several status and timing registers that are also referenced elsewhere and I previously could not get a handle on it.

My first attempt this time was spending another few days staring at it and tracing it, but this did not gain me much new understanding. Finally I decided to just leave it for now and see how far I could get without understanding this part of the driver. I decided to once again attempt to get "CD-i Full Motion Video Technical Aspects" working.

This CD-i was produced by Philips to give future Full Motion Video (as the new MPEG playback functions were called at the time) developers a demonstration of the technical capabilities of the new hardware, at a time when this hardware was still in the early beta phase. The CD-i actually contains the compiler libraries necessary for making FMV calls from CD-i applications, as these had not previously been widely distributed.

It is not a very slick disc visually, being intended for developers, but it demonstrates a number of FMV techniques such as regular playback, playback control including pause, slow motion and single step, freeze frame and forward/backward scan, special effects like scrolling the FMV window, a seamless jump and a sample of overlay effects with the CD-i base case video planes.

I had previously tried to run this disc on CD-i Emulator, but it always crashed for an unknown reason that I attributed to MPEG device emulation problems. This time I traced back the crash and it turned out to have nothing at all to do with FMV playback but was instead caused by an incorrect emulation of the 68000 instruction "move ea,ccr" which is supposed to set the condition code register (ccr) to the value specified by the effective address (ea). In the processor manual this is classified as a word instruction and I had emulated it as such, which turned out to be wrong as it caused a word write to the full status register which should have been a byte write to the lower eight bits of it which hold the condition codes.

The problem manifested itself when the application calls the math trap handler for some mundane number calculations, which were naturally supposed to set the condition codes. The value written to the status register inadvertently changed the processor from user to system mode (and also scrambled the active interrupt masking level) which caused an instant stack switch that caused a bus error when the trap handler attempts to return to the application program (the cpu took the return address from the wrong stack and got garbage instead).

Most CD-i applications probably don't use the math trap handler so the problem went undetected for a long time. Now that it's fixed some other titles have probably started working but I haven't tested that.

After this, the FMV Technical Aspects application would get to its main menu screen, allowing me to start FMV playback operations. Regular playback worked fine until the end of the video clip, where there turned out to be status bit generation issues that prevented the application from properly detecting the end of video clip condition (the decoder is supposed to send a "buffer underflow" signal, among others, after the end of the MPEG data and my emulation didn't do that yet).

This was not very easy to fix because of the way that MPEG data buffering and decoding is handled inside CD-i Emulator, which I'll get into below. So it took me some time.

Regular play working fine, I started worrying about window control. This was the area where I feared the picture buffering stuff, but it turned out that this was easily bypassed. The horizontal / vertical scrolling functions were ideal to test this but it took me some time to get it working. There were bugs in several areas, including my integration of the MPEG video decoding code, which I took from the well-known mpeg2dec package. This code is written to decode a single video sequence and consequently did not handle image size changes without some re-initialization calls at the appropriate times. Failing that, it mostly just crashed (at the Windows application level) due to out-of-bounds video buffer accesses.

Another issue was the timing of device register updates for image size changes; I turned out to have the basic mechanism wrong and consequently the driver would keep modifying the window parameters to incorrect values.

Having all of the above fixed, I returned my attention to playback control. So far I can get the video playback properly paused, but I haven't been able to get it properly resumed. For some reason the application resumes the MPEG playback but it doesn't resume the disc playback. Since the driver waits for new data to arrive from disc before actually resuming MPEG playback nothing happens (this is documented as such). The application is presumably expecting some signal from the driver to get into the proper state for resuming disc playback, but I haven't found it yet.

At this point, it seemed promising to look at other CD-i titles using playback control and the Philips Video CD application is an obvious candidate. Again, regular playback appears to work fine, but playback control (including pause/resume) does not. It turns out that this application uses a different driver call (it uses MV_ChSpeed instead of MV_Pause, probably in preparation for possible slow motion or single step), which never completes successfully, probably again because of device status signaling. Similar issues appear to block playback control in a few other titles I tried.

I've given some thought to tracing driver calls and signals on an actual player to see what CD-i Emulator is doing wrong, and it appears to be relatively simple, there's just a bandwidth issue because all of the trace output will have to go out the serial port which can go no higher then 19200 baud. Some kind of data compression is obviously needed and I've determined a relatively simple scheme that should be enough (the CD-i player side will all need to be coded in 68000 machine language so simplicity is important!), but I haven't actually written any code for it yet.

I know there are issues with the proper timing of some video status signals. Things like start-of-sequence, end-of-sequence and start-of-picture-group should be delayed until display of the corresponding picture, at present they are delivered at decoding time, which can be a few pictures early. But that does not really affect the titles I've tried so far, because they do not attempt picture-synced operations. An application like The Lost Ride might be sensitive to thinks like this, though, and it needs to be fixed at some time. Similar issues are probably present with time code delivery. In addition, the last-picture-displayed and buffer-underflow signals are not always properly sent; I'm fixing these as I go along.

In the process, I decided that the magenta border was getting annoying and tried to fix it. That turned out to be harder then I thought. The MPEG chip has a special border color register that is written by the MV_BColor driver call and it seemed enough to just pass the color value to the MPEG window overlay routines. Well, not so. Again the issue turned out to be timing of decoder status signals, but of a different kind. The driver doesn't write the border color registers until it has seen some progress in certain timing registers related to the picture buffering thing, presumably to avoid visual flashes or something on the actual hardware. Fortunately, it turned out to be easy to simulate that progress, taking care not to trigger the complicated picture buffer code that I so far managed to keep dormant.

At some point, possibly related to slow motion or freeze frame, I might need to actually tackle that code but I hope to by that time have gained more understanding of the supposed workings of the MPEG chip.

Looking at the above, you might think that all of the difficulties are with the MPEG video decoding and that is indeed mostly true. I did have to fix something in the MPEG audio decoding, related to the pause/resume problems, and that was the updating of the audio decoder clock. When audio and video playback are synchronized the MPEG video driver uses the MPEG audio clock as it's timing reference, which means that it has to be stopped and restarted when video playback control operations occur. Since I had never before seriously tested this, the audio clock wasn't stopped at all and the video driver obligingly continued decoding and displaying pictures until it ran out of buffered data.

There is currently just one known problem with the MPEG audio decoding: the audio isn't properly attenuated as specified by the driver. This causes little audio distortions at some stream transitions and when buffers run out. There is also a problem with base case audio synchronization but that is hard to trigger and possibly even not audible in many titles so I'll worry about that much later.

Above I promised to get into the MPEG data buffering and decoding issue. The basic problem is one of conceptual mismatch: the CD-i decoding hardware gets data "pushed" into it (by DMA or direct device I/O) at the behest of the driver, whereas the MPEG decoding code (based on the publicly available mpeg2dec and musicout programs from the MPEG Software Simulation Group) expects to "pull" the data it needs during decoding. Things get messy when the decoding runs out of data, as the code does not expect to ever do so (it was originally written to decode from a disc file which of course never runs out of data until the end of the sequence). Some obvious solutions include putting the decoding in a separate thread (which given multi-core processors might be a good idea anyway from a performance perspective) and modifying it to become restartable at some previous sync point (most easily this would be the start of an audio frame or a picture or picture slice). Both options are somewhat involved although they have obvious benefits, and it may turn out that I will need to do one of them anyway at some point. For now I've avoided the problems by carefully timing calls into the MPEG decoding code so that enough data to decode a single audio frame or video picture should always be available; the MPEG data stream at the system level contains enough timestamp and buffering information to make this possible (in particular, it specifies the exact decoding time of every audio frame or video picture in relation to the timing of the data stream, thus making it possible to make those calls into the decoding code at a time that a valid MPEG data stream will have already filled the buffers far enough).

The approach depends on the timing of the MPEG data entering the decoder, which means that it does not handle buffer underflow conditions unless you add some kind of automatic decoding that continues even if no more MPEG data appears, and this is basically what I’ve done. In the end it was just relatively straightforward extension of the automatic decoding already there to handle the fact that MPEG audio streams do not have to explicitly timestamp every single audio frame (the CD-i Green Book does not even allow this unless you waste massive amounts of space in each MPEG audio data sector) and would have been needed anyway to correctly decode the last pictures of a sequence, but that had never been tested before.

For performance and possible patent reasons I have taken care to edit the MPEG decoding code (placing appropriate #ifdef lines at the right places) so that only MPEG 1 video and audio layer I/II decoding code is compiled into the CD-i Emulator executable. This is all that is needed for CD-i anyway and MPEG 2 video and audio layer III greatly complicate the decoding and thus significantly enlarge the compiled code.

Being somewhat stymied at the FMV front, I next decided to spend some time on another lingering issue. During testing, I often have to do the same exact sequence of mouse actions to get a CD-i application to a problem point and this is starting to be annoying. Input recording and playback are a partial solution to this but then you still have to wait while the application goes through it, which is also annoying and can sometimes take quite some time anyway. The obvious solution is a full emulation state save/restore feature, which I've given some thought and started implementing. It's nowhere near finished, though.

During the MESS collaboration I spent some time investigating the MESS save/restore mechanism. If at all possible I would love to be compatible for CD-i emulation states, but it turns out to be quite hard to do. The basic internal mechanism is quite similar in spirit to what I developed for CD-i Emulator, but it's the way the data is actually saved that makes compatibility very hard. Both approaches basically boil down to saving and restoring all the relevant emulation state variables, which includes easy things like the contents of cpu, memory and device registers but also internal device state variables. The latter are of course not identical between different emulators but they could probably be converted if some effort was thrown at it and for a typical device they aren't very complex anyway. The MESS implementation uses an initialization-time registration of all state variables; at save/restore time it just walks the registrations and saves or restores the binary contents of those variables. CD-i Emulator has a somewhat more flexible approach; at save/restore time it calls a device-specific serialize function to save or restore the contents of the state variables. The actual registration / serialization codes are structurally similar in the two emulators (a simple list of macro/function calls on the state variables) but the code runs at different times.

The real problem is that MESS includes very little meta information in the save files: only a single checksum of all the names and types of registered state variables in registration order. This is enough to validate the save data at restore time if the state variables of the saving emulator exactly match those of the restoring emulator, because there is no information to implement skipping or conversions. This holds between different versions or in some case even configurations of MESS emulators, but it holds even more so between MESS and CD-i Emulator! The meta information could of course be obtained from the MESS source code (relatively simply macro modifications could cause it to be written out) but that would require exact tracking of MESS versions because every version could have its own checksum corresponding to different meta information (in this case CD-i Emulator would need meta information sets for every MESS checksum value it wants to support).

I want CD-i Emulator to be more flexible, especially during development, so I decided to make full meta information an option in the save file. The saved state of every device is always versioned, which allows the save/restore code to implement explicit conversion where needed, but during development this isn't good enough. With full meta information turned on, the name and type of every state variable precedes the save data for that variable in the save file. This allows more-or-less automatic skipping of unknown state variables and when properly implemented the restore code can also handle variable reordering. At release time, I will fix the version numbers and save full metadata information sets for those version numbers so that the same automatic skipping and handling of reordering can be done even if the metadata isn't in the save file (it probably won't be because of file size considerations, although that may turn out to be a non-issue because save files need to include the full RAM contents anyway which is 1 MB of data in the simplest case without any compression, which is of course an option).

In addition to all of the above, I made some progress on the ROM-less emulation front. First I spent some time reading up on the internals of OS-9 file managers, because writing a replacement for the NRF file manager (NRF = Nonvolatile RAM File manager) seemed the logical next step. Actually writing it turned out not to be that hard, but there were of course bugs in the basic ROM emulation code. Most of them had to do with handlers not calling into the original ROM, which totally screwed up the tracing code. Some new functionality was also needed to properly read/write OS-9 data structures inside the emulated machine from the ROM emulation code; I wanted to implement this in such a way that compilation to "native" 68000 code remains a future option for ROM emulation modules. And of course the massive tracing described in the previous blog post had to be curtailed because it was impossible to see the relevant information in the morass of tracing output.

The new emulated NRF stores its files in the PC file system and it currently works fine when you start it with no stored files (i.e., the player will boot). In that case it will write out a proper "csd" (Configuration Status Descriptor) file. However, if this file already exists, the player crashes, although I have so far not found any fault in the NRF code. The origin of the problem probably lies elsewhere; I suspect it has to do with the hidden "player_shell_settings.prf" file. This file is read and written by the ROM bootstrap even before OS-9 is running; it does this by directly accessing the NVRAM memory (the file never changes size and is always the first one in NVRAM). Since the bootstrap accesses of this file do not go through the NRF file manager or even the NVRAM driver they are not redirected by the OS-9 emulation. However, later accesses by the player shell *are* redirected and the player shell does not seem able to handle the file not existing in the PC file system in the case where a csd file already exists. Solutions include extending the emulated NRF to always access this particular file from the NVRAM instead of the PC file system or somehow synchronizing the two locations for the file. The latter is probably the easiest route given the fixed location and size of the file, but the former is also useful as it would provide a full reimplementation of the original NRF that could in principle be compiled to native 68000 code to replace the "original" NRF in ROM (this is where gcc comes in as alluded to earlier, since all emulation code is written in C++).

In either case, I do not want the file manager to directly access emulated NVRAM although it could do so easily, as there is already an internal CNvramPort interface that provides just such access independent of the actual emulated NVRAM chip. The NRF file manager should instead call the NVRAM driver, which means that I need to implement cross-module calling first. It's not really hard in principle, the design has been done but there are a lot of little details to get right (the most obvious implementation uses at least 66 bytes of emulated stack space on each such call which I find excessive and might not even work; smarter implementations require some finicky register mask management or a "magic cookie" stacking approach, the latter having the best performance in the emulation case but being impossible in the native 68000 compilation case). When cross-module calling is working, I can also have the file manager allocate emulated memory and separate out the filename parsing functions by using the OS-9 system calls that provide these functions (the current emulated NRF does not allocate emulated memory which is arguably an emulation error and has the filename parsing coded out explicitly).

When everything works correctly with the emulated NRF, I have to find some way of integrating it in the user experience. You could always start over without any NVRAM files, but I'd like to have some way of migrating files between the two possible locations without having to run CD-i Emulator with weird options. Extending the CD-i File Extractor (cdifile) by incorporating (part of) the emulated NRF seems the obvious choice, which would also provide me with some impetus to finally integrate it with the CD-i File Viewer (wcdiview) program that's supposed to be a GUI version of cdifile but so far is just a very thin skeleton barely able to graphically display a single CD-i IFF image file passed on the command line (it doesn't even have a File Open menu) and will often crash. A proper implementation would look like Windows Explorer with a tree view on the left (CD-i file system, real-time channels and records, IFF chunk structure, etc) and a variable content display on the right (raw data view, decoded sector view, code disassembly view, graphical image view, audio playback, slideshow playback, decoded MPEG view, MPEG playback, etc).

That touches on another area in which I did some work last month: the saving of CD-i IFF image files for each emulated video frame. The motivation for this was to bring full-resolution real-time frame saving into the realm of the possible, as it would write only about 2 x (1024 + 280 x (384 + 32)) = 247 KB of raw CD-i video and DCP data per frame instead of 560 x 768 x 3 = 1260 KB of raw RGB. At least on my PC this has turned out not to be the case, however. The data is written out fine, which is not as easy as it sounds since video line data size can vary with each line because of pixel repeat and run-length encoding, but it's still too slow. That being so, I am not really very motivated to extend the CD-i IFF decoding implementation to actually decode this information. Some kind of compression could be an option, but that takes processor time and makes things even harder and possibly slower. Perhaps using another thread for this would be a solution, on a multi-core machine this should not greatly impact the basic emulation performance nor the debugging complexity as the compression code would be independent of the emulation itself.

So there is still a lot of work to be done, but it's all quite interesting and will provide for some entertaining evenings and weekends in the coming weeks or possibly months.

          ROM-less emulation progress        
Over the last two weeks I have implemented most of the high-level emulation framework that I alluded to in my last post here as well as a large number of tracing wrappers for the original ROM calls. In the next stage I will start replacing some of those wrappers with re-implementations, starting with some easy ones.

It turns out I was somewhat optimistic; so far I have wrapped over 450 distinct ROM entry points (the actual current number of wrappers is 513 but there are some error catchers and possible duplicates). Creating the wrappers and writing and debugging the framework took more effort then I expected, but it was worth it: every call to a ROM entry point described or implied by the Green Book or OS-9 documentation is now wrapped with a high-level emulation function that so far does nothing except calling the original ROM routine and tracing its input/output register values.

Surely there aren't that many application-callable API functions, I can hear you think? Well actually there are, for sufficiently loose definitions of "application-callable". You see, the Green Book specifies CD-RTOS as being OS-9 and every "trick" normally allowed under OS-9 is theoretically legal in a CD-i title. That includes bypassing the OS-supplied file managers and directly calling device drivers; there are many CD-i titles that do some of this (the driver interfaces are specified by the Green Book). In particular, all titles using the Balboa library do this.

I wanted an emulation framework that could handle this so my framework is built around the idea of replacing the OS-9 module internals but retaining their interfaces, including all the documented (and possibly some undocumented) data structures. One of the nice features of this approach is that native ROM code can be replaced by high-level emulation on a routine-by-routine basis.

How does it really work? As a start, I've enhanced the 68000 emulation to possibly invoke emulation modules whenever an emulated instruction generates one of the following processor exceptions: trap, illegal instruction, line-A, line-F.

The emulation modules can operate in two modes: either copy an existing ROM module and wrap its entry points, or generate an entirely new memory module. In both cases, the emulation module will emit line-A instructions at the appropriate points. The emitted modules will go into a memory area appropriately called "emurom" that the OS-9 kernel scans for modules. Giving the emitted modules identical names but higher revision numbers then the ROM modules will cause the OS-9 kernel to use the emitted modules.

This approach works for every module except the kernel itself, because it is entered by the boot code before the memory scan for modules is even performed. The kernel emulation module will actually patch the ROM kernel entry point so that it jumps to the emitted kernel module.

The emitted line-A instructions are recognized by the emulator disassembler; they are called "modcall" instructions (module call). Each such instruction corresponds to a single emulation function; entry points into the function (described below) are indicated by the word immediately following it in memory. For example, the ROM routine that handles the F$CRC system call now disassembles like this:

modcall kernel:CRC:0
jsr XXX.l
modcall kernel:CRC:$
rts

Here the XXX is the absolute address of the original ROM routine for this system call; the two modcall instructions trace the input and output registers of this handler. If the system call were purely emulated (no fallback to the original ROM routine) it would look like this:

modcall kernel:CRC:0
modcall kernel:CRC:$
rts

Both modcall instructions remain, although technically the latter is now unnecessary, but the jsr instruction has disappeared. Technically, the rts instruction could also be eliminated but it looks more comprehensible this way.

One could view the approach as adding a very powerful "OS-9 coprocessor" to the system.

If an emulation function has to make inter-module calls, complications arise. High-level emulation context cannot cross module boundaries, because the called module may be native (and in many cases even intra-module calls can raise this issue). For this reason, emulation functions need additional entry points where the emulation can resume after making such a call. The machine language would like this, e.g. for the F$Open system call:

modcall kernel:Open:0
modcall kernel:Open:25
modcall kernel:Open:83
modcall kernel:Open:145
modcall kernel:Open:$
rts

The numbers following the colon are relative line numbers in the emulation function. When the emulation function needs to make a native call, it pushes the address of one such modcall instruction on the native stack, sets the PC register to the address it wants to call and resumes instruction emulation. When the native routine returns, it will return to the modcall instruction which will re-enter the emulation function at the appropriate point.

One would expect that emulation functions making native calls need to be coded very strangely: a big switch statement on the entry code (relative line number), followed by the appropriate code. However, a little feature of the C and C++ languages allows the switch statement to be mostly hidden. The languages allow the case labels of a switch statement to be nested arbitrarily deep into the statements inside the switch.

The entire contents of emulation functions are encapsulated inside a switch statement on the entry number (hidden by macros):

switch (entrynumber)
{
case 0:
...
}

On the initial call, zero is passed for entrynumber so the function body starts executing normally. Where a native call needs to be made, the processor registers are set up (more on this below) and a macro is invoked:

MOD_CALL(address);

This macro expands to something like this:

MOD_PARAMS.SetJumpAddress(address);
MOD_PARAMS.SetReturnLine(__LINE__);
return eMOD_CALL;
case __LINE__:

Because this is a macro expansion, both invokations of the __LINE__ macro will expand to the line number of the MOD_CALL macro invokation.

What this does is to save the target address and return line inside MOD_PARAMS and then return from the emulation function with value eMOD_CALL. This value causes the wrapper code to push the address of the appropriate modcall instruction and jump to the specified address. When that modcall instruction executes after the native call returns, it passes the return line to the emulation function as the entry number which will dutifully switch on it and control will resume directly after the MOD_CALL macro.

In reality, the code uses not __LINE__ but __LINE__ - MOD_BASELINE which will use relative line numbers instead of absolute ones; MOD_BASELINE is a constant defined as the value of __LINE__ at the start of the emulation function.

The procedure described above has one serious drawback: emulation functions cannot have "active" local variables at the point where native calls are made (the compiler will generate errors complaining that variable initialisations are being skipped). However, the emulated processor registers are available as temporaries (properly saved and restored on entry and exit of the emulation function if necessary) which should be good enough. Macros are defined to make accessing these registers easy.

When native calls need to be made, the registers must be set up properly. This would lead to constant "register juggling" before and after each call, which is error-prone and tedious. To avoid it, it is possible to use two new sets of registers: the parameter set and the results set. Before a call, the parameter registers must be set up properly; the call will then use these register values as inputs and the outputs will be stored in the results registers (register juggling will be done by the wrapper code). The parameter registers are initially set to the values of the emulated processor registers and also set from the results registers after each call.

The following OS-9 modules are currently wrapped:

kernel nrf nvdrv cdfm cddrv ucm vddrv ptdrv kbdrv pipe scf scdrv

The *drv modules are device drivers; their names must be set to match the ones used in the current system ROM in order to properly override those. The *.brd files in the sys directory have been extended to include this information like this:

** Driver names for ROM emulation.
set cddrv.name=cdapdriv
set vddrv.name=video
set ptdrv.name=pointer
set kbdrv.name=kb1driv

The kernel emulation module avoids knowledge of system call handler addresses inside the kernel by trapping the first "system call" so that it can hook all the handler addresses in the system and user mode dispatch tables to their proper emulation stubs. This first system call is normally the I$Open call for the console device.

File manager and driver emulation routines hook all the entry points by simply emitting a new entry point table and putting the offset to it in the module header. The offsets in the new table point to the entry point stubs (the addresses of the original ROM routines are obtained from the original entry point table).

The above works fine for most modules, but there was a problem with the video driver because it is larger then 64KB (the offsets in the entry point are 16-bit values relative to the start of the module). Luckily there is a text area near the beginning of the original module (it is actually just after the original entry point table) that can be used for a "jump table" so all entry point offsets fit into 16 bits. After this it should have worked, but it didn't because it turns out that UCM has a bug that requires the entry point table to *also* be in the first 64KB of the module (it ignores the upper 16-bits of the 32-bit offset to this table in the module header). This was fixed by simply reusing the original entry point table in this case.

One further complication arose because UCM requires the initialisation routines of drivers to also store the absolute addresses of their entry points in UCM variables. These addresses were "hooked" by adding code to the initialisation emulation routine that changes these addresses to point to the appropriate modcall instructions.

All file managers and drivers contain further dispatching for the SetStat and GetStat routines, based on the contents of one or two registers. Different values in these registers will invoke entirely separate functions with different register conventions; they really must be redirected to different emulation functions. This is achieved by lifting the dispatching to the emulation wrapper code (it is all table-driven).

Most of the above has been implemented, and CD-i emulator now traces all calls to ROM routines (when emurom is being used). A simple call to get pointing device coordinates would previously trace as follows (when trap tracing was turned on with the "et trp" command):

@00DF87E4(cdi_app) TRAP[5812] #0 I$GetStt <= d0.w=7 d1.w=SS_PT d2.w=PT_Coord
@00DF87E8(cdi_app) TRAP[5812] #0 I$GetStt => d0.w=$8000 d1.l=$1EF00FD

Here the input value d0.w=7 is the path number of the pointing device; the resulting mouse coordinates are in d1.l and correspond to (253,495),

When modcall tracing is turned on, this "simple" call will trace as follows:

@00DF87E4(cdi_app) TRAP[5812] #0 I$GetStt <= d0.w=7 d1.w=SS_PT d2.w=PT_Coord
@00F86EE0(kernel) MODCALL[16383] kernel:GetStt:0 <= d0.w=7 d1.w=$59 [Sys]
@00F86D10(kernel) MODCALL[16384] kernel:CCtl:0 <= d0.l=2 [NoTrap]
@00F86D1A(kernel) MODCALL[16384] kernel:CCtl:$ =>
@00F8A460(ucm) MODCALL[16385] ucm:GetPointer:0 <= u_d0.w=7 u_d2.w=0
@00FA10A4(pointer) MODCALL[16386] pointer:PtCoord:0 <= d0.w=7
@00FA10AE(pointer) MODCALL[16386] pointer:PtCoord:$ => d0.w=$8000 d1.l=$1EF00FD
@00F8A46A(ucm) MODCALL[16385] ucm:GetPointer:$ =>
@00F86D10(kernel) MODCALL[16387] kernel:CCtl:0 <= d0.l=5 [NoTrap]
@00F86D1A(kernel) MODCALL[16387] kernel:CCtl:$ =>
@00F86EEA(kernel) MODCALL[16383] kernel:GetStt:$ =>
@00DF87E8(cdi_app) TRAP[5812] #0 I$GetStt => d0.w=$8000 d1.l=$1EF00FD

You can see that the kernel dispatches this system call to kernel:GetStt, the handler for the I$GetStt system call. It starts by doing some cache control and then calls the GetStat entry point of the ucm modules, which dispatches it to its GetPointer routine. This routine in turn calls the GetStat routine of the pointer driver, which dispatches it to its PtCoord routine. This final routine performs the actual work and returns the results, which are then ultimately returned by the system call, after another bit of cache control.

The calls to ucm:GetStat and pointer:GetStat are no longer visible in the above trace as the emulation wrapper code directly dispatches them to ucm:GetPointer and pointer:PtCoord, respectively; it doesn't even trace the dispatching because this would result in another four lines of tracing output.

As a sidenote, all of the meticulous cache and address space control done by the kernel is really wasted, as CD-i systems do not need these. But the calls are still being made, which makes the kernel needlessly slow; one major reason why calling device drivers directly is often done. Newer versions of OS-9 eliminate these calls by using different kernel flavors for different processors and hardware configurations.

The massive amount of tracing needs to be curtailed somewhat before further work can productively be done; this is what I will start with next.

I have already generated fully documented stub functions for the OS-9 kernel from the OS-9 technical documentation; I will also need to generate for all file manager and driver calls, based on the digital Green Book.

It is perhaps noteworthy that some kernel calls are not described in any of the OS-9 version 2.4 documentation that I was able to find, but they *are* described in the online OS-9/68000 version 3.0 documentation.

Some calls made by the native ROMs remain undocumented but those mostly seem to be CD-i system-control (for example, one of them sets the front display text). Of the OS-9 kernel calls, only the following ones are currently undocumented:

F$AllRAM
F$FModul
F$POSK

Their existence was inferred by the appropriate constants existing in the compiler library files, but I have not seen any calls to them (yet).
          CD-i Emulator 0.5.3-beta1 released!        
I have just released the new version of CD-i Emulator. It has received very limited pre-beta testing, but that's what public betas are for.

I've changed relatively little since the prebeta1 version.

The most import change is the addition of the Help | Report menu option that contains a link to the new Report section of the website and will automatically fill in most of the information fields on that form when clicked.

Unfortunately, to make this work properly I had to touch most files in the sys directory to add correct player model, extension and digital video cartridge identification.

I've also added checksum reporting of DV cartridges, let's find out how complete my current collection is. These checksums will not (yet) trigger an "Unknown ROM" dialog if unknown, but they are posted with compatibility reports.

The -writepng option also had to be fixed to support macros in its filename, otherwise each video frame would overwrite the previous one! The macros that I've decided to support for now are $seq$, which produces a 6-digit sequence number and $time$ which produces the 6-digit frame time (mmssff).

The Release Notes have been modified to include these changes.

Use of the input recording/playback functions revealed a number of bugs; I've fixed those and also added more player information recording so that recorded input files contain enough information for compatibility reports (this isn't used yet).
          AVI writing fixed and some fast machine issues        
In a new attempt to get a usable Burn:Cycle movie out of CD-i Emulator, I decided to add multiple PNG writing as a poor substitute for AVI writing. After all, if you have the images and audio, you can always postprocess them into a movie!

I hooked up the PNG writing code from MESS/MAME, which seemed simple enough. There was the small matter of adding 24 bits per pixel bitmap support (their code handles 16 and 32 but not 24 which is however the internal format of CD-i Emulator; I had already partially added such support for the AVI writing code).

However, the resulting PNG files would not display in Explorer or any other image tool, giving messages like 'Bad file format' and 'Cannot read'. In exploring the cause for this, I was looking at memory buffers being filled and suddenly noticed that they where being filled in little-endian byte order, which is definitely wrong as PNG is a big-endian byte order file format.

The source of the problem turned out the be a configuration error with the MESS/MAME code: it needs a macro LSB_FIRST so it knows that it's running on a little-endian machine, and I had forgotten to give it one. When I fixed this, the PNG files came out right. And even better, the AVI files suddenly also seemed correct (not surprisingly, as they use the same byte order flipping macros as the PNG writing code).

So now I have both PNG writing and AVI writing hooked up in CD-i Emulator. I proceeded to do some timing tests and in the process added a few new writing options. The -writesilent option writes AVI files without audio; the -writerate option sets the framerate for the AVI files.

Full framerate AVI files still play "jumpy" on my machine but that's caused by their uncompressedness (is that even a word?); if you convert them to MP4 for uploading they play perfectly.

I uploaded a first test to YouTube; you can see it here.

If you set the AVI framerate low enough, you can do real-time movie captures. On my slow home machine I can do real-time capturing with -writerate 2 or less (which gives very jumpy AVI files, but the audio is correct).

To do non-realtime movie rendering you need to use the input recording and playback options. I did that for one of my Burn:Cycle recordings (not a very good one, but it's hard to play on my machine as the framerate it really too low and as a result the mouse gets jerky, which makes you overshoot your targets, which results in easy death at the hands of the security people).

The rendering proceeded at about 15% real-time speed while I was typing the above and is now finished; it gave me an AVI file of 27 GB for a nearly 7 minute session. There's something wrong with that file; Media Player claims it's only 33 seconds but proceeds to play all 7 minutes of it. Huh?

I also have problems converting it to MP4, probably caused by the same problems. Currently testing conversion programs to find one that can handle it...

During all of the fast machine testing yesterday, I also noticed that after a few minutes the audio begins to lag behind when it shouldn't. This is probably caused by the audio not being decoded at exactly 44.1 kHz relative to the PC timers (or something like that). When audio is playing, it really needs to be taken as the master clock for emulation speed control but that is somewhat hard with the current speed control code. Not for this beta. To ameliorate the problem, I've added a "Flush Audio" option (keyboard shortcut Ctrl-F) that allows you to manually flush the lagging audio so that it regains emulation sync.

Yesterday I also started adding proper IFF reading code, as opposed to the basic version handling only a single large data chunk that is currently used by the input playback code. This is needed so I that can properly finish the recording and playback functionality.

The beta release seems to be coming nearer...
          Top 10 comedy films        
There seems to be some debate going round at the moment about the best comedy films of all time after a list was compiled by a panel of comedy stars. This is Spinal Tap came top of that list. I thought I'd join in the  with my own favourites that didn't make their top ten. Listed of course in particular order.

1. Duck Soup (1933)

It's amazing how fresh this film still is today. Like many of the Marx Brothers' films there is a kind of anarchic, almost punk ethos that runs through it. This scene introduces us to Groucho's character Rufus T. Firefly, and has to be one of the smartest introductions in cinema history.

2. Love and Death (1975)

          Thing #11: LibraryThing        
Are you a book lover...with piles covering all the flat surfaces in your world? Do you like order in your life...even with your personal items? Do you like to share books with others...would you like to discuss books with others who share the same passions as you do?

Then LibraryThing is for you! Over 500,000 book lovers and over 300 million titles (and the pertinent info about the books...need info for a new book that needs to be added to the system?)

Background information:
1. Take the tour.
2. Go thru the very short introduction.
3. Listen to the podcast. (The stats are old...the ones above in this post are current and LibraryThing is almost 3 yrs old now.)
powered by ODEO


Discovery Activities:
1. Create an account. It is super simple!
2. Add at least 5 titles to your list.
3. On your blog, write a Thing #11 post about your experience with LibraryThing. How do you think it could be useful to you in your situation? Did you check out any of the groups? Did you find a group of users that share your interests?


Want to keep up with new things about and issues with LibraryThing? Follow the blog. (Or better yet...add the blog link to your RSS reader!)

Just for fun...a skit about LibraryThing

          13 on Thursday--Monday Edition        
What can I say? The holidays have kept me really busy. I feel like I am back on track a bit now. I thought I'd dive right in with a 13 on Thursday...yes, yes I know it's Monday. Let's just overlook that shall we?

  1. My fingers are so cold right now. I really wish there were some sort of very thin, easy to type in gloves or something. Brrrrr!
  2. This weekend I wrapped up all of our Christmas gifts (to give). I only have 2 more gifts to buy. It feels great to be so close to being done shopping. It sure has made for a less stressful holiday. How's your holiday shopping going?
  3. Today on the BSP we are giving away a gift card to CSNstores. At times like this I wish I could win! I spent a large amount of time browsing their bedroom furniture while "researching" for the giveaway. After the new year I'm redecorating our master bedroom.
  4. I really wish Etsy offered Gift Cards, that's what I'd want for Christmas. I have a wish list of Etsy items a mile long.
  5. My mom bought hubby and I an Elf on The Shelf a few years ago. Even though we don't have kids we have totally been having a blast with our elf, Rudy, this year. We've shared so many laughs because of this little elf!
  6. These macro photos of snowflakes are so pretty! Even the simplest things can be beautiful when viewed with a thankful heart.
  7. This weekend I picked up a Polaroid 600 Land Camera at an estate sale. I can't wait to get film for it. Anyone have experience with The Impossible Project? Should I buy from them or purchase discontinued film?
  8. Ninjabread men: awesome! My hubby would love it if I made him these.
  9. Probably no surprise but our Christmas tree is decorated in a gingerbread + peppermint theme. So I wrap our presents in kraft paper and peppermint embellishments. These packages are so pretty though, I want to change my entire theme!
  10. If I had the room (and the funds) I'd purchase this nativity set in a heartbeat. It is adorable!
  11. One word: yum!
  12. I flunked out of SFS this time around. But wowee, my classmates have taken some amazing photos.
  13. This week I plan on drinking lots of warm beverages, finishing up the last of the Christmas photo orders, baking chocolate chip cookies and spending time with friends + family. What are your plans?

          51) Which one of the following statements concerning production and staffing plans is best? A. A master production schedule is a projected statement of income, costs, and profits. B. Aggregation can be performed along three dimensions: product families, labor, and time. C. Production plans are based primarily on information from the master production plan. D. A staffing plan is the intermediate link between the business plan and the master production schedule.         

BUS/475 Guide 4


1) The cost principle requires that when assets are acquired, they be recorded at __________.
A.   list price B.   selling price C.   exchange price paid D.   appraisal value
2) "Generally accepted" in the phrase generally accepted accounting principles means that the principles __________.
A.   have been approved for use by the managements of business firms
B.   have been approved by the Internal Revenue Service C.   have substantial authoritative support D.   are proven theories of accounting
3) The standards and rules that are recognized as a general guide for financial reporting are called __________.
A.   standards of financial reporting B.   operating guidelines C.   generally accepted accounting principles D.   generally accepted accounting standards
4) Sam's Used Cars uses the specific identification method of costing inventory. During March, Sam purchased three cars for $6,000, $7,500, and $9,750, respectively. During March, two cars are sold for $9,000 each. Sam determines that at March 31, the $9,750 car is still on hand. What is Sam’s gross profit for March?
A.   $8,250
B.   $750 C.   $4,500
D.   $5,250
           
5) Hess, Inc. sells a single product with a contribution margin of $12 per unit and fixed costs of $74,400 and sales for the current year of $100,000. How much is Hess’s break even point?
A.   2,133 units
B.   6,200 units
C.   $25,600 D.   4,600 units
           
6) As Plant Controller, you are trying to determine which costs over which you have the most control on a day to day basis. Your goal is to achieve better profitability. The Plant Operations Manager suggests that overhead is the easiest area to directly reduce costs. Which of the following items would be classified as manufacturing overhead?
A.   The western division’s vice president’s salary
B.   Cost of landscaping the corporate office C.   General corporate liability insurance D.   Factory janitor
7) What is the preparation of reports for each level of responsibility in the company’s organization chart called?
A.   Master budgeting analysis
B.   Exception reporting C.   Responsibility reporting
D.   Static reporting
8) Disney’s variable costs are 30% of sales. The company is contemplating an advertising campaign that will cost $22,000. If sales are expected to increase $40,000, by how much will the company's net income increase?
A.   $6,000 B.   $12,000
C.   $28,000
D.   $18,000
           
9) The cost of an asset and its fair market value are __________.
A.   never the same B.   irrelevant when the asset is used by the business in its operations
C.   the same on the date of acquisition D.   the same when the asset is sold
10) Which one of the following is a product cost?
A.   Indirect labor B.   Sales person’s salaries
C.   Advertising costs D.   Office salaries
11) What exists when budgeted costs exceed actual results?
A.   A budgeting error B.   An unfavorable difference
C.   An excess profit D.   A favorable difference
12) The income statement and balance sheet columns of Pine Company's worksheet reflects the following totals:
                        Income Statement                  Balance Sheet
            Dr.       Cr.                   Dr.       Cr.
Totals              $58,000           $48,000                       $34,000           $44,000
           

Closing entries are necessary for __________.
A.   permanent accounts only B.   both permanent and temporary accounts
C.   permanent or real accounts only D.   temporary accounts only
13) Managerial accounting __________.
A.   is concerned with costing products B.   pertains to the entity as a whole and is highly aggregated
C.   places emphasis on special-purpose information D.   is governed by generally accepted accounting principles
           
14) H55 Company sells two products, beer and wine. Beer has a 10 percent profit margin and wine has a 12 percent profit margin. Beer has a 27 percent contribution margin and wine has a 25 percent contribution margin. If other factors are equal, which product should H55 push to customers?
A.   Beer B.   Selling either results in the same additional income for the company
C.   It should sell an equal quantity of both D.   Wine
15) Lekeisha's income exceeds her expenditures. Lekeisha is a __________.
A.   saver who demands money from the financial system B.   borrower who demands money from the financial system
C.   borrower who supplies money to the financial system D.   saver who supplies money to the financial system
16) Maurice receives $100 as a birthday gift. In deciding how to spend the money, he narrows his options down to four choices: Option A, Option B, Option C, and Option D. Each option costs $100. Finally he decides on Option B. The opportunity cost of this decision is __________.
A.   the value to Maurice of the option he would have chosen had Option B not been available
B.   $100 C.   $300 D.   the value to Maurice of Options A, C and D combined
17) A production possibilities frontier will be a straight line if __________.
A.   the economy is producing efficiently B.   the economy is engaged in trade with at least one other economy C.   increasing the production of one good by x units entails no opportunity cost in terms of the other good
D.   increasing the production of one good by x units entails a constant opportunity cost in terms of the other good
           
18) In economics, the cost of something is __________.
A.   what you give up to get it B.   often impossible to quantify, even in principle C.   the dollar amount of obtaining it D.   always measured in units of time given up to get it
           
19) A tax on an imported good is called a __________.
A.   supply tax
B.   trade tax C.   quota D.   tariff
20) Which of the following statements about GDP is correct?
A.   GDP is to a nation’s economy as household income is to a household. B.   GDP increases if the total population increases. C.   GDP measures two things at once: the total income of everyone in the economy and the unemployment rate.
D.   Money continuously flows from households to government and then back to households, and GDP measures this flow of money.
           
21) In computing GDP, market prices are used to value final goods and services because __________.
A.   if market prices are out of line with how people value goods, the government sets price ceilings and price floors
B.   Market prices are not used in computing GDP C.   market prices reflect the values of goods and services D.   market prices do not change much over time, so it is easy to make comparisons between years

22) Which of the following statements about GDP is correct?
A.   Nominal GDP values production at market prices, whereas real GDP values production at the cost of the resources used in the production process.
B.   Nominal GDP consistently underestimates the value of production, whereas real GDP consistently overestimates the value of production.
C.   Nominal GDP values production at current prices, whereas real GDP values production at constant prices.
D.   Nominal GDP values production at constant prices, whereas real GDP values production at current prices.
           
23) Which of the following is not correct?
A.   The U.S. debt per-person is large compared with average lifetime income.
B.   In 2005, the U.S. government had a deficit. C.   A potential cost of deficits is that they reduce national saving, thereby reducing growth of the capital stock and output growth.
D.   Deficits give people the opportunity to consume at the expense of their children, but they do not require them to do so.
           
24) The part of the balance of payments account that lists all long-term flows of payments is called the:
A.   balance of trade. B.   financial and capital account.
C.   government financial account.
D.   current account.
25) Edward Prescott and Finn Kydland won the Nobel Prize in Economics in 2004. One of their contributions was to argue that if a central bank could convince people to expect zero inflation, then the Fed would be tempted to raise output by increasing inflation. This possibility is known as __________.
A.   the sacrifice ratio dilemma B.   the monetary policy reaction lag
C.   the time inconsistency of policy
D.   inflation targeting
26) In general, the longest lag for __________.
A.   fiscal policy is the time it takes to change policy, while for monetary policy the longest lag is the time it takes for policy to affect aggregate demand
B.   both fiscal and monetary policy is the time it takes for policy to affect aggregate demand
C.   monetary policy is the time it takes to change policy, while for fiscal policy the longest lag is the time it takes for policy to affect aggregate demand
D.   both fiscal and monetary policy is the time it takes to change policy
27) Consider two items that might be included in GDP: (1) The estimated rental value of owner-occupied housing; and (2) purchases of newly-constructed homes. How are these two items accounted for when GDP is calculated?
A.   Only item (2) is included in GDP and it is included in the investment component.
B.   Item (1) is included in the consumption component, while item (2) is included in the investment component.
C.   Item (1) is included in the investment component, while item (2) is included in the consumption component.
D.   Both item (1) and item (2) are included in the consumption component of GDP.

28) Managers will utilize __________ skills with increasing frequency as they rise within an organization.
A.   Professional B.   Interpersonal and communication
C.   Technical D.   Professional E.   Conceptual and decision
29) Which of these represent skills that managers need?
A.   Interpersonal, quantitative, and professional B.   Technical, interpersonal & communication and conceptual & decision making
C.   Professional, technical and interpersonal & communication D.   Conceptual & decision making, professional and technical E.   Interpersonal & communication, conceptual & decision making and professional
           
30) Building a dynamic organization is another way of describing which function of management?
A.   Staffing B.   Organizing
C.   Leading D.   Controlling
E.   Planning
31) Your roommate is interested in starting a business and everybody has been giving him different information about being an entrepreneur. Since you have been studying about entrepreneurship and new ventures, which of these would you tell him is true?
A.   Anyone can start a business B.   All entrepreneurs need venture capital in order to get started C.   Successful entrepreneurs take very careful, calculated risks D.   Entrepreneurs are their own bosses and completely independent
E.   Money should not be considered a start-up ingredient
32) The term used to refer to all kinds of differences including religious affiliation, age, disability status, economic class and lifestyle in addition to gender, race, ethnicity and nationality is:
A.   Diversity B.   Managerial ethics
C.   Recruiting D.   Employment E.   Selection
33) A manager's ability to stimulate people to be high performers is referred to as:
A.   Planning B.   Supervising
C.   Controlling
D.   Organizing E.   Leading
34) A series of quality standards developed by a committee working under the International Organization for Standardization to improve total quality in all businesses for the benefit of both producers and consumers is:
A.   Total quality management B.   Customer-based integration C.   Computer-integrated manufacturing (CIM)
D.   Just-in-time control (JIT)
E.   ISO 9000
35) Japanese manufacturers' kaizen (continuous improvement) programs enable them to maintain:
A.   A strategic alliance B.   A homogeneous workforce C.   Positive working relationships with all employees
D.   A Learning advantage over their competition E.   Larger, faster facilities
36) Listening to employee suggestions, gaining support for organizational objectives and fostering an atmosphere of teamwork are all considered:
A.   Technical skills B.   Conceptual C.   Professional skills D.   Interpersonal/communication skills
E.   Diagnostic skills
37) The basic components of an effective sexual harassment policy include the following EXCEPT:
A.   To develop an organization wide policy on sexual harassment B.   To establish a means for ongoing training C.   To act immediately when employees complain of sexual harassment
D.   To establish a performance appraisal system E.   To establish a formal complaint procedure
38) Teams that operate separately from the regular work structure and exist temporarily are known as:
A.   Management teams B.   Transnational teams
C.   Self-managed teams
D.   Parallel teams E.   Self-designing teams
           
39) The Aquatic Center, Inc. periodically reviews the goals of the company. During the process, The Aquatic Center managers analyze their current strategies as compared to their competitors, determine goals that they will pursue and decide upon specific actions for each area of the company to take in pursuit of these goals. The Aquatic Center managers have been engaged in the management function of:
A.   Goal Coordination
B.   Controlling C.   Organizing D.   Staffing E.   Planning
40) As related to managing of human resources, diversity refers to:
A.   Differences in demographics (such as age, race, gender, disability status, lifestyle, veteran status, educational level, etc.)
B.   Differences in pay methods (such as hourly, salaried, overtime, hazard-pay, commissioned, etc.)
C.   Differences in employee benefit plans (such as pensions, insurance, vacations, memberships, etc.)
D.   Differences in retention strategies (such as training, hiring, incentives, etc) E.   Differences in recruiting methods (such as newspapers, schools, flyers, magazines, agencies, etc.)
           
41) __________ is the process of working with people and resources to accomplish organizational goals.
A.   Controlling B.   Decision making
C.   Planning D.   Supervising E.   Management
42) Twelve randomly-chosen students were asked how many times they had missed class during a certain semester, with this result: 2, 1, 5, 1, 1, 3, 4, 3, 1, 1, 5, 18.
For this sample, the median is _____.
A.   3 B.   3.5
C.   2.5
D.   2
43) Use the following table to answer question:
 P(S | W) is approximately _____.
A.   .40
B.   .30
C.   .12
D.   .58
           
44) Use the following table to answer question:
 P(M  A) is approximately _____.
A.   .50 B.   .625
C.   .125
D.   .25
45) Dullco Manufacturing claims that its alkaline batteries last forty hours on average in a certain type of portable CD player. Tests on a random sample of 18 batteries showed a mean battery life of 37.8 hours with a standard deviation of 5.4 hours.
In determining the p-value for reporting the study's findings, which of the following is true?
A.   The p-value is equal to .05. B.   The p-value is greater than .05. C.   The p-value cannot be determined without specifying  . D.   The p-value is less than .05.
46) William used a sample of 68 U.S. cities to estimate the relationship between Crime (annual property crimes per 100,000 persons) and Income (median income per capita). His estimated regression equation was Crime = 428 + .050 Income.
Which outcomes would be likely in a bivariate regression on 45 randomly chosen U.S. cities in 2005 with
Y = number of robberies in each city (thousands of robberies) and
X = size of police force in each city (thousands of police)?
A.   High R2 (due to city size). B.   Positive slope (due to city size).
C.   No correlation. D.   Autocorrelation.
47) Twelve randomly-chosen students were asked how many times they had missed class during a certain semester, with this result: 2, 1, 5, 1, 1, 3, 4, 3, 1, 1, 5, 18.
For this sample, which measure of central tendency is least representative of the “typical” student?
A.   Midrange
B.   Mean C.   Mode D.   Median
           
48) Likely reasons for inaccurate control limits would include which of the following?
A.   Process variation was not zero, as expected. B.   The engineering parameter for variance is unknown.
C.   There was insufficient preliminary sampling. D.   The engineers were underpaid for their work.
49) You are faced with a linear programming objective function of:
Max P = $20X + $30Y
and constraints of:
3X + 4Y = 24 (Constraint A)
5X – Y = 18 (Constraint B)
You discover that the shadow price for Constraint A is 7.5 and the shadow price for Constraint B is 0. Which of these statements is TRUE?
A.   The most you would want to pay for an additional unit of A would be $7.50.
B.   You can change quantities of X and Y at no cost for Constraint B. C.   For every additional unit of the objective function you create, the price of A rises by $7.50.
D.   For every additional unit of the objective function you create, you lose 0 units of B.
           
50) A project has three paths. A–B–C has a length of 25 days. A–D–C has a length of 15 days. Finally, A–E–C has a length of 20 days. Which one of the following statements is TRUE?
A.   The expected duration of this project is 25 + 15 + 20 = 60 days.
B.   A–D–C is the critical path. C.   The expected duration of this project is 25 days. D.   A–B–C has the most slack.
51) Which one of the following statements concerning production and staffing plans is best?
A.   A master production schedule is a projected statement of income, costs, and profits.
B.   Aggregation can be performed along three dimensions: product families, labor, and time.
C.   Production plans are based primarily on information from the master production plan.
D.   A staffing plan is the intermediate link between the business plan and the master production schedule.
           
52) While glancing over the sensitivity report, you note that the stitching labor has a shadow price of $10 and a lower limit of 24 hours with an upper limit of 36 hours. If your original right hand value for stitching labor was 30 hours, you know that:
A.   you would lose $80 if one of your workers missed an entire 8 hour shift. B.   the next worker that offers to work an extra 8 hours should receive at least $80.
C.   you would be willing pay up to $60 for someone to work another 6 hours.
D.   you can send someone home 6 hours early and still pay them the $60 they would have earned while on the clock.

53) The costs of delivering products in the _____ channel are much higher than delivering products in the _____ channel.
A.   physical, digital B.   e-commerce, digital
C.   physical, financial D.   digital, e-commerce
E.   digital, physical
54) When customers access a Web site and make purchases, they generate __________.
A.   Tracking cookies B.   Web data C.   Information D.   Clickstream data
E.   Hyperlink data
55) _____ is the integration of economic, social, cultural, and ecological facets of life, enabled by information.
A.   regionalization B.   globalization C.   nationalization D.   business environment
           
56) Various organizations that promote fair and responsible use of information systems often develop __________.
A.   a code of ethics B.   responsibility charters
C.   a strategic plan D.   a mission statement E.   a goals outline
57) What is _____ is not necessarily _____.
A.   Illegal, unethical B.   Unethical, legal C.   Ethical, illegal D.   Unethical, illegal
E.   Ethical, legal
58) _____ provides users with a view of what is happening, where _____ addresses why it is happening.
A.   Multidimensional data analysis, structured query language
B.   Multidimensional data analysis, neural networks C.   Data mining, multidimensional data analysis D.   Data mining, expert system E.   Multidimensional data analysis, data mining
59) Computer support is greatest for which of the following problems?
A.   Semistructured and strategic planning B.   Semistructured and management control
C.   Unstructured and operational control D.   Structured and operational control E.   Structured and management control
60) The management cockpit best exemplifies which type of system?
A.   Decision support system B.   Functional area information system
C.   Expert system D.   Digital dashboard E.   Group decision support system
61) _____ is the efficient and effective execution of specific tasks.
A.   Operational control
B.   Expertise C.   Management control
D.   Strategic planning E.   Wisdom
62) Geocoding is __________.
A.   accessing geographical information B.   integrating maps with spatially oriented databases and other databases
C.   integrating organizational transactions with spatially oriented databases D.   programming spatially oriented databases E.   encrypting spatial information
63) At 8% compounded annually, how long will it take $750 to double?
A.   48 months
B.   6.5 years C.   9 years D.   12 years
64) Which of the following represents an attempt to measure the earnings of the firm’s operations over a given time period?
A.   Cash flow statement
B.   Balance sheet C.   Income statement D.   Quarterly statement
           
65) A machine costs $1,000, has a three-year life, and has an estimated salvage value of $100. It will generate after-tax annual cash flows (ACF) of $600 a year, starting next year. If your required rate of return for the project is 10%, what is the NPV of this investment? (Round your answerwer to the nearest $10.)
A.   $570 B.   $490 C.   $900 D.   -$150
           
66) Disadvantages of using current liabilities as opposed to long-term debt include:
A.   higher cash flow exposure B.   greater risk of illiquidity, and uncertainty of interest costs
C.   decreased risk of liquidity D.   certainty of interest costs E.   uncertainty of future liabilities
67) Petrified Forest Skin Care, Inc. pays an annual perpetual dividend of $1.70 per share. If the stock is currently selling for $21.25 per share, what is the expected rate of return on this stock?
A.   12.5% B.   36.13%
C.   8.0% D.   13.6%
68) Which of the following is most consistent with the hedging principle in working capital management?
A.   Fixed assets should be financed with short-term notes payable. B.   Inventory should be financed with preferred stock. C.   Accounts receivable should be financed with short-term lines of credit.
D.   Borrow on a floating rate basis to finance investments in permanent assets.
           
69) An increase in future value can be caused by an increase in the __________.
A.   original amount invested B.   annual interest rate and number of compounding periods
C.   rate of return D.   dividends paid E.   starting value
70) If the quote for a forward exchange contract is greater than the computed price, the forward contract is:
A.   at equilibrium.
B.   undervalued. C.   a good buy. D.   overvalued.
71) Your company is considering an investment in a project which would require an initial outlay of $300,000 and produce expected cash flows in Years 1 through 5 of $87,385 per year. You have determined that the current after-tax cost of the firm’s capital (required rate of return) for each source of financing is as follows:
Cost of debt     8%
Cost of preferred stock           12%
Cost of common stock            16%
Long-term debt currently makes up 20% of the capital structure, preferred stock 10%, and common stock 70%. What is the net present value of this project?
A.   $1,568
B.   $871 C.   $1,241
D.   $463
72) Suppose you determine that the NPV of a project is $1,525,855. What does that mean?
A.   The project’s IRR would have to be less that the firm’s discount rate. B.   The project would add value to the firm. C.   Under all conditions, the project’s payback would be less than the profitability index.
D.   In all cases, investing in this project would be better than investing in a project that has an NPV of $850,000.
           
73) The common stockholders are most concerned with:
A.   the spread between the return generated on new investments and the investor’s required rate of return.
B.   the size of the firm’s beginning earnings per share. C.   the risk of the investment. D.   the percentage of profits retained.
74) PepsiCo calculates unlevered betas for each peer group in order to:
A.   eliminate different financial risks.
B.   eliminate competitive factors. C.   eliminate judgment factors. D.   eliminate different business risks.
75) Which of the following best represents operating income?
A.   Income from discontinued operations
B.   Earnings before interest and taxes C.   Income from capital gains D.   Income after financing activities
76) In comparison to the buying of final consumers, the purchasing of organizational buyers:
A.   is even less predictable. B.   leans basically toward economy, quality, and dependability.
C.   is always emotional. D.   is strictly economic and not at all emotional. E.   is always based on competitive bids from multiple suppliers.
           
77) The basic objective of the U.S. market-directed economic system is to:
A.   achieve an annual growth rate of at least 10 percent. B.   provide each person with an equal share of the economic output.
C.   make the most efficient use of the country's resources. D.   minimize inflation. E.   satisfy consumer needs as they--the consumers--see them.
78) Comparing GDP for foreign countries can help a marketing manager evaluate potential markets if the manager remembers that:
A.   GDP measures show people's tendency to buy particular products. B.   income tends to be evenly distributed among consumers in most countries. C.   GDP estimates may not be very accurate for very different cultures and economies.
D.   Other countries most likely don’t use the US Dollar as their primary currency.
E.   GDP measures show the degree of competition in a market.
79) A firm's "marketing mix" decision areas would NOT include:
A.   Promotion.
B.   People. C.   Price. D.   Place. E.   Product.
80) __________ is a marketing management aid which refers to how customers think about proposed and/or present brands in a market.
A.   Brand familiarity B.   Positioning
C.   Market scanning D.   Customer relationship management (CRM)
E.   Market segmentation
81) The "four Ps" of a marketing mix are:
A.   Production, Personnel, Price, and Physical Distribution
B.   Promotion, Production, Price, and People C.   Potential customers, Product, Price, and Personal Selling
D.   Product, Price, Promotion, and Profit E.   Product, Place, Promotion, and Price
82) When evaluating macro-marketing:
A.   the evaluation is necessarily subjective. B.   the best approach is to consider the profit generated by individual firms within the overall system.
C.   one must determine how efficiently the society's resources are used. D.   one must consider the society’s role in the marketing system. E.   one must consider each individual firm's role in the marketing system.
83) A cluster analysis of the "toothpaste market" would probably show that:
A.   the broad product-market can be served effectively with one marketing mix.
B.   most consu
          52) While glancing over the sensitivity report, you note that the stitching labor has a shadow price of $10 and a lower limit of 24 hours with an upper limit of 36 hours. If your original right hand value for stitching labor was 30 hours, you know that: A. you would lose $80 if one of your workers missed an entire 8 hour shift. B. the next worker that offers to work an extra 8 hours should receive at least $80. C. you would be willing pay up to $60 for someone to work another 6 hours. D.         

BUS/475 Guide 4


1) The cost principle requires that when assets are acquired, they be recorded at __________.
A.   list price B.   selling price C.   exchange price paid D.   appraisal value
2) "Generally accepted" in the phrase generally accepted accounting principles means that the principles __________.
A.   have been approved for use by the managements of business firms
B.   have been approved by the Internal Revenue Service C.   have substantial authoritative support D.   are proven theories of accounting
3) The standards and rules that are recognized as a general guide for financial reporting are called __________.
A.   standards of financial reporting B.   operating guidelines C.   generally accepted accounting principles D.   generally accepted accounting standards
4) Sam's Used Cars uses the specific identification method of costing inventory. During March, Sam purchased three cars for $6,000, $7,500, and $9,750, respectively. During March, two cars are sold for $9,000 each. Sam determines that at March 31, the $9,750 car is still on hand. What is Sam’s gross profit for March?
A.   $8,250
B.   $750 C.   $4,500
D.   $5,250
           
5) Hess, Inc. sells a single product with a contribution margin of $12 per unit and fixed costs of $74,400 and sales for the current year of $100,000. How much is Hess’s break even point?
A.   2,133 units
B.   6,200 units
C.   $25,600 D.   4,600 units
           
6) As Plant Controller, you are trying to determine which costs over which you have the most control on a day to day basis. Your goal is to achieve better profitability. The Plant Operations Manager suggests that overhead is the easiest area to directly reduce costs. Which of the following items would be classified as manufacturing overhead?
A.   The western division’s vice president’s salary
B.   Cost of landscaping the corporate office C.   General corporate liability insurance D.   Factory janitor
7) What is the preparation of reports for each level of responsibility in the company’s organization chart called?
A.   Master budgeting analysis
B.   Exception reporting C.   Responsibility reporting
D.   Static reporting
8) Disney’s variable costs are 30% of sales. The company is contemplating an advertising campaign that will cost $22,000. If sales are expected to increase $40,000, by how much will the company's net income increase?
A.   $6,000 B.   $12,000
C.   $28,000
D.   $18,000
           
9) The cost of an asset and its fair market value are __________.
A.   never the same B.   irrelevant when the asset is used by the business in its operations
C.   the same on the date of acquisition D.   the same when the asset is sold
10) Which one of the following is a product cost?
A.   Indirect labor B.   Sales person’s salaries
C.   Advertising costs D.   Office salaries
11) What exists when budgeted costs exceed actual results?
A.   A budgeting error B.   An unfavorable difference
C.   An excess profit D.   A favorable difference
12) The income statement and balance sheet columns of Pine Company's worksheet reflects the following totals:
                        Income Statement                  Balance Sheet
            Dr.       Cr.                   Dr.       Cr.
Totals              $58,000           $48,000                       $34,000           $44,000
           

Closing entries are necessary for __________.
A.   permanent accounts only B.   both permanent and temporary accounts
C.   permanent or real accounts only D.   temporary accounts only
13) Managerial accounting __________.
A.   is concerned with costing products B.   pertains to the entity as a whole and is highly aggregated
C.   places emphasis on special-purpose information D.   is governed by generally accepted accounting principles
           
14) H55 Company sells two products, beer and wine. Beer has a 10 percent profit margin and wine has a 12 percent profit margin. Beer has a 27 percent contribution margin and wine has a 25 percent contribution margin. If other factors are equal, which product should H55 push to customers?
A.   Beer B.   Selling either results in the same additional income for the company
C.   It should sell an equal quantity of both D.   Wine
15) Lekeisha's income exceeds her expenditures. Lekeisha is a __________.
A.   saver who demands money from the financial system B.   borrower who demands money from the financial system
C.   borrower who supplies money to the financial system D.   saver who supplies money to the financial system
16) Maurice receives $100 as a birthday gift. In deciding how to spend the money, he narrows his options down to four choices: Option A, Option B, Option C, and Option D. Each option costs $100. Finally he decides on Option B. The opportunity cost of this decision is __________.
A.   the value to Maurice of the option he would have chosen had Option B not been available
B.   $100 C.   $300 D.   the value to Maurice of Options A, C and D combined
17) A production possibilities frontier will be a straight line if __________.
A.   the economy is producing efficiently B.   the economy is engaged in trade with at least one other economy C.   increasing the production of one good by x units entails no opportunity cost in terms of the other good
D.   increasing the production of one good by x units entails a constant opportunity cost in terms of the other good
           
18) In economics, the cost of something is __________.
A.   what you give up to get it B.   often impossible to quantify, even in principle C.   the dollar amount of obtaining it D.   always measured in units of time given up to get it
           
19) A tax on an imported good is called a __________.
A.   supply tax
B.   trade tax C.   quota D.   tariff
20) Which of the following statements about GDP is correct?
A.   GDP is to a nation’s economy as household income is to a household. B.   GDP increases if the total population increases. C.   GDP measures two things at once: the total income of everyone in the economy and the unemployment rate.
D.   Money continuously flows from households to government and then back to households, and GDP measures this flow of money.
           
21) In computing GDP, market prices are used to value final goods and services because __________.
A.   if market prices are out of line with how people value goods, the government sets price ceilings and price floors
B.   Market prices are not used in computing GDP C.   market prices reflect the values of goods and services D.   market prices do not change much over time, so it is easy to make comparisons between years

22) Which of the following statements about GDP is correct?
A.   Nominal GDP values production at market prices, whereas real GDP values production at the cost of the resources used in the production process.
B.   Nominal GDP consistently underestimates the value of production, whereas real GDP consistently overestimates the value of production.
C.   Nominal GDP values production at current prices, whereas real GDP values production at constant prices.
D.   Nominal GDP values production at constant prices, whereas real GDP values production at current prices.
           
23) Which of the following is not correct?
A.   The U.S. debt per-person is large compared with average lifetime income.
B.   In 2005, the U.S. government had a deficit. C.   A potential cost of deficits is that they reduce national saving, thereby reducing growth of the capital stock and output growth.
D.   Deficits give people the opportunity to consume at the expense of their children, but they do not require them to do so.
           
24) The part of the balance of payments account that lists all long-term flows of payments is called the:
A.   balance of trade. B.   financial and capital account.
C.   government financial account.
D.   current account.
25) Edward Prescott and Finn Kydland won the Nobel Prize in Economics in 2004. One of their contributions was to argue that if a central bank could convince people to expect zero inflation, then the Fed would be tempted to raise output by increasing inflation. This possibility is known as __________.
A.   the sacrifice ratio dilemma B.   the monetary policy reaction lag
C.   the time inconsistency of policy
D.   inflation targeting
26) In general, the longest lag for __________.
A.   fiscal policy is the time it takes to change policy, while for monetary policy the longest lag is the time it takes for policy to affect aggregate demand
B.   both fiscal and monetary policy is the time it takes for policy to affect aggregate demand
C.   monetary policy is the time it takes to change policy, while for fiscal policy the longest lag is the time it takes for policy to affect aggregate demand
D.   both fiscal and monetary policy is the time it takes to change policy
27) Consider two items that might be included in GDP: (1) The estimated rental value of owner-occupied housing; and (2) purchases of newly-constructed homes. How are these two items accounted for when GDP is calculated?
A.   Only item (2) is included in GDP and it is included in the investment component.
B.   Item (1) is included in the consumption component, while item (2) is included in the investment component.
C.   Item (1) is included in the investment component, while item (2) is included in the consumption component.
D.   Both item (1) and item (2) are included in the consumption component of GDP.

28) Managers will utilize __________ skills with increasing frequency as they rise within an organization.
A.   Professional B.   Interpersonal and communication
C.   Technical D.   Professional E.   Conceptual and decision
29) Which of these represent skills that managers need?
A.   Interpersonal, quantitative, and professional B.   Technical, interpersonal & communication and conceptual & decision making
C.   Professional, technical and interpersonal & communication D.   Conceptual & decision making, professional and technical E.   Interpersonal & communication, conceptual & decision making and professional
           
30) Building a dynamic organization is another way of describing which function of management?
A.   Staffing B.   Organizing
C.   Leading D.   Controlling
E.   Planning
31) Your roommate is interested in starting a business and everybody has been giving him different information about being an entrepreneur. Since you have been studying about entrepreneurship and new ventures, which of these would you tell him is true?
A.   Anyone can start a business B.   All entrepreneurs need venture capital in order to get started C.   Successful entrepreneurs take very careful, calculated risks D.   Entrepreneurs are their own bosses and completely independent
E.   Money should not be considered a start-up ingredient
32) The term used to refer to all kinds of differences including religious affiliation, age, disability status, economic class and lifestyle in addition to gender, race, ethnicity and nationality is:
A.   Diversity B.   Managerial ethics
C.   Recruiting D.   Employment E.   Selection
33) A manager's ability to stimulate people to be high performers is referred to as:
A.   Planning B.   Supervising
C.   Controlling
D.   Organizing E.   Leading
34) A series of quality standards developed by a committee working under the International Organization for Standardization to improve total quality in all businesses for the benefit of both producers and consumers is:
A.   Total quality management B.   Customer-based integration C.   Computer-integrated manufacturing (CIM)
D.   Just-in-time control (JIT)
E.   ISO 9000
35) Japanese manufacturers' kaizen (continuous improvement) programs enable them to maintain:
A.   A strategic alliance B.   A homogeneous workforce C.   Positive working relationships with all employees
D.   A Learning advantage over their competition E.   Larger, faster facilities
36) Listening to employee suggestions, gaining support for organizational objectives and fostering an atmosphere of teamwork are all considered:
A.   Technical skills B.   Conceptual C.   Professional skills D.   Interpersonal/communication skills
E.   Diagnostic skills
37) The basic components of an effective sexual harassment policy include the following EXCEPT:
A.   To develop an organization wide policy on sexual harassment B.   To establish a means for ongoing training C.   To act immediately when employees complain of sexual harassment
D.   To establish a performance appraisal system E.   To establish a formal complaint procedure
38) Teams that operate separately from the regular work structure and exist temporarily are known as:
A.   Management teams B.   Transnational teams
C.   Self-managed teams
D.   Parallel teams E.   Self-designing teams
           
39) The Aquatic Center, Inc. periodically reviews the goals of the company. During the process, The Aquatic Center managers analyze their current strategies as compared to their competitors, determine goals that they will pursue and decide upon specific actions for each area of the company to take in pursuit of these goals. The Aquatic Center managers have been engaged in the management function of:
A.   Goal Coordination
B.   Controlling C.   Organizing D.   Staffing E.   Planning
40) As related to managing of human resources, diversity refers to:
A.   Differences in demographics (such as age, race, gender, disability status, lifestyle, veteran status, educational level, etc.)
B.   Differences in pay methods (such as hourly, salaried, overtime, hazard-pay, commissioned, etc.)
C.   Differences in employee benefit plans (such as pensions, insurance, vacations, memberships, etc.)
D.   Differences in retention strategies (such as training, hiring, incentives, etc) E.   Differences in recruiting methods (such as newspapers, schools, flyers, magazines, agencies, etc.)
           
41) __________ is the process of working with people and resources to accomplish organizational goals.
A.   Controlling B.   Decision making
C.   Planning D.   Supervising E.   Management
42) Twelve randomly-chosen students were asked how many times they had missed class during a certain semester, with this result: 2, 1, 5, 1, 1, 3, 4, 3, 1, 1, 5, 18.
For this sample, the median is _____.
A.   3 B.   3.5
C.   2.5
D.   2
43) Use the following table to answer question:
 P(S | W) is approximately _____.
A.   .40
B.   .30
C.   .12
D.   .58
           
44) Use the following table to answer question:
 P(M  A) is approximately _____.
A.   .50 B.   .625
C.   .125
D.   .25
45) Dullco Manufacturing claims that its alkaline batteries last forty hours on average in a certain type of portable CD player. Tests on a random sample of 18 batteries showed a mean battery life of 37.8 hours with a standard deviation of 5.4 hours.
In determining the p-value for reporting the study's findings, which of the following is true?
A.   The p-value is equal to .05. B.   The p-value is greater than .05. C.   The p-value cannot be determined without specifying  . D.   The p-value is less than .05.
46) William used a sample of 68 U.S. cities to estimate the relationship between Crime (annual property crimes per 100,000 persons) and Income (median income per capita). His estimated regression equation was Crime = 428 + .050 Income.
Which outcomes would be likely in a bivariate regression on 45 randomly chosen U.S. cities in 2005 with
Y = number of robberies in each city (thousands of robberies) and
X = size of police force in each city (thousands of police)?
A.   High R2 (due to city size). B.   Positive slope (due to city size).
C.   No correlation. D.   Autocorrelation.
47) Twelve randomly-chosen students were asked how many times they had missed class during a certain semester, with this result: 2, 1, 5, 1, 1, 3, 4, 3, 1, 1, 5, 18.
For this sample, which measure of central tendency is least representative of the “typical” student?
A.   Midrange
B.   Mean C.   Mode D.   Median
           
48) Likely reasons for inaccurate control limits would include which of the following?
A.   Process variation was not zero, as expected. B.   The engineering parameter for variance is unknown.
C.   There was insufficient preliminary sampling. D.   The engineers were underpaid for their work.
49) You are faced with a linear programming objective function of:
Max P = $20X + $30Y
and constraints of:
3X + 4Y = 24 (Constraint A)
5X – Y = 18 (Constraint B)
You discover that the shadow price for Constraint A is 7.5 and the shadow price for Constraint B is 0. Which of these statements is TRUE?
A.   The most you would want to pay for an additional unit of A would be $7.50.
B.   You can change quantities of X and Y at no cost for Constraint B. C.   For every additional unit of the objective function you create, the price of A rises by $7.50.
D.   For every additional unit of the objective function you create, you lose 0 units of B.
           
50) A project has three paths. A–B–C has a length of 25 days. A–D–C has a length of 15 days. Finally, A–E–C has a length of 20 days. Which one of the following statements is TRUE?
A.   The expected duration of this project is 25 + 15 + 20 = 60 days.
B.   A–D–C is the critical path. C.   The expected duration of this project is 25 days. D.   A–B–C has the most slack.
51) Which one of the following statements concerning production and staffing plans is best?
A.   A master production schedule is a projected statement of income, costs, and profits.
B.   Aggregation can be performed along three dimensions: product families, labor, and time.
C.   Production plans are based primarily on information from the master production plan.
D.   A staffing plan is the intermediate link between the business plan and the master production schedule.
           
52) While glancing over the sensitivity report, you note that the stitching labor has a shadow price of $10 and a lower limit of 24 hours with an upper limit of 36 hours. If your original right hand value for stitching labor was 30 hours, you know that:
A.   you would lose $80 if one of your workers missed an entire 8 hour shift. B.   the next worker that offers to work an extra 8 hours should receive at least $80.
C.   you would be willing pay up to $60 for someone to work another 6 hours.
D.   you can send someone home 6 hours early and still pay them the $60 they would have earned while on the clock.

53) The costs of delivering products in the _____ channel are much higher than delivering products in the _____ channel.
A.   physical, digital B.   e-commerce, digital
C.   physical, financial D.   digital, e-commerce
E.   digital, physical
54) When customers access a Web site and make purchases, they generate __________.
A.   Tracking cookies B.   Web data C.   Information D.   Clickstream data
E.   Hyperlink data
55) _____ is the integration of economic, social, cultural, and ecological facets of life, enabled by information.
A.   regionalization B.   globalization C.   nationalization D.   business environment
           
56) Various organizations that promote fair and responsible use of information systems often develop __________.
A.   a code of ethics B.   responsibility charters
C.   a strategic plan D.   a mission statement E.   a goals outline
57) What is _____ is not necessarily _____.
A.   Illegal, unethical B.   Unethical, legal C.   Ethical, illegal D.   Unethical, illegal
E.   Ethical, legal
58) _____ provides users with a view of what is happening, where _____ addresses why it is happening.
A.   Multidimensional data analysis, structured query language
B.   Multidimensional data analysis, neural networks C.   Data mining, multidimensional data analysis D.   Data mining, expert system E.   Multidimensional data analysis, data mining
59) Computer support is greatest for which of the following problems?
A.   Semistructured and strategic planning B.   Semistructured and management control
C.   Unstructured and operational control D.   Structured and operational control E.   Structured and management control
60) The management cockpit best exemplifies which type of system?
A.   Decision support system B.   Functional area information system
C.   Expert system D.   Digital dashboard E.   Group decision support system
61) _____ is the efficient and effective execution of specific tasks.
A.   Operational control
B.   Expertise C.   Management control
D.   Strategic planning E.   Wisdom
62) Geocoding is __________.
A.   accessing geographical information B.   integrating maps with spatially oriented databases and other databases
C.   integrating organizational transactions with spatially oriented databases D.   programming spatially oriented databases E.   encrypting spatial information
63) At 8% compounded annually, how long will it take $750 to double?
A.   48 months
B.   6.5 years C.   9 years D.   12 years
64) Which of the following represents an attempt to measure the earnings of the firm’s operations over a given time period?
A.   Cash flow statement
B.   Balance sheet C.   Income statement D.   Quarterly statement
           
65) A machine costs $1,000, has a three-year life, and has an estimated salvage value of $100. It will generate after-tax annual cash flows (ACF) of $600 a year, starting next year. If your required rate of return for the project is 10%, what is the NPV of this investment? (Round your answerwer to the nearest $10.)
A.   $570 B.   $490 C.   $900 D.   -$150
           
66) Disadvantages of using current liabilities as opposed to long-term debt include:
A.   higher cash flow exposure B.   greater risk of illiquidity, and uncertainty of interest costs
C.   decreased risk of liquidity D.   certainty of interest costs E.   uncertainty of future liabilities
67) Petrified Forest Skin Care, Inc. pays an annual perpetual dividend of $1.70 per share. If the stock is currently selling for $21.25 per share, what is the expected rate of return on this stock?
A.   12.5% B.   36.13%
C.   8.0% D.   13.6%
68) Which of the following is most consistent with the hedging principle in working capital management?
A.   Fixed assets should be financed with short-term notes payable. B.   Inventory should be financed with preferred stock. C.   Accounts receivable should be financed with short-term lines of credit.
D.   Borrow on a floating rate basis to finance investments in permanent assets.
           
69) An increase in future value can be caused by an increase in the __________.
A.   original amount invested B.   annual interest rate and number of compounding periods
C.   rate of return D.   dividends paid E.   starting value
70) If the quote for a forward exchange contract is greater than the computed price, the forward contract is:
A.   at equilibrium.
B.   undervalued. C.   a good buy. D.   overvalued.
71) Your company is considering an investment in a project which would require an initial outlay of $300,000 and produce expected cash flows in Years 1 through 5 of $87,385 per year. You have determined that the current after-tax cost of the firm’s capital (required rate of return) for each source of financing is as follows:
Cost of debt     8%
Cost of preferred stock           12%
Cost of common stock            16%
Long-term debt currently makes up 20% of the capital structure, preferred stock 10%, and common stock 70%. What is the net present value of this project?
A.   $1,568
B.   $871 C.   $1,241
D.   $463
72) Suppose you determine that the NPV of a project is $1,525,855. What does that mean?
A.   The project’s IRR would have to be less that the firm’s discount rate. B.   The project would add value to the firm. C.   Under all conditions, the project’s payback would be less than the profitability index.
D.   In all cases, investing in this project would be better than investing in a project that has an NPV of $850,000.
           
73) The common stockholders are most concerned with:
A.   the spread between the return generated on new investments and the investor’s required rate of return.
B.   the size of the firm’s beginning earnings per share. C.   the risk of the investment. D.   the percentage of profits retained.
74) PepsiCo calculates unlevered betas for each peer group in order to:
A.   eliminate different financial risks.
B.   eliminate competitive factors. C.   eliminate judgment factors. D.   eliminate different business risks.
75) Which of the following best represents operating income?
A.   Income from discontinued operations
B.   Earnings before interest and taxes C.   Income from capital gains D.   Income after financing activities
76) In comparison to the buying of final consumers, the purchasing of organizational buyers:
A.   is even less predictable. B.   leans basically toward economy, quality, and dependability.
C.   is always emotional. D.   is strictly economic and not at all emotional. E.   is always based on competitive bids from multiple suppliers.
           
77) The basic objective of the U.S. market-directed economic system is to:
A.   achieve an annual growth rate of at least 10 percent. B.   provide each person with an equal share of the economic output.
C.   make the most efficient use of the country's resources. D.   minimize inflation. E.   satisfy consumer needs as they--the consumers--see them.
78) Comparing GDP for foreign countries can help a marketing manager evaluate potential markets if the manager remembers that:
A.   GDP measures show people's tendency to buy particular products. B.   income tends to be evenly distributed among consumers in most countries. C.   GDP estimates may not be very accurate for very different cultures and economies.
D.   Other countries most likely don’t use the US Dollar as their primary currency.
E.   GDP measures show the degree of competition in a market.
79) A firm's "marketing mix" decision areas would NOT include:
A.   Promotion.
B.   People. C.   Price. D.   Place. E.   Product.
80) __________ is a marketing management aid which refers to how customers think about proposed and/or present brands in a market.
A.   Brand familiarity B.   Positioning
C.   Market scanning D.   Customer relationship management (CRM)
E.   Market segmentation
81) The "four Ps" of a marketing mix are:
A.   Production, Personnel, Price, and Physical Distribution
B.   Promotion, Production, Price, and People C.   Potential customers, Product, Price, and Personal Selling
D.   Product, Price, Promotion, and Profit E.   Product, Place, Promotion, and Price
82) When evaluating macro-marketing:
A.   the evaluation is necessarily subjective. B.   the best approach is to consider the profit generated by individual firms within the overall system.
C.   one must determine how efficiently the society's resources are used. D.   one must consider the society’s role in the marketing system. E.   one must consider each individual firm's role in the marketing system.
83) A cluster analysis of the "toothpaste market" would probably show that:
A.   the broad product-market can be served effectively with one marketing mix.
B.   most consu
          53) The costs of delivering products in the _____ channel are much higher than delivering products in the _____ channel. A. physical, digital B. e-commerce, digital C. physical, financial D. digital, e-commerce E. digital, physical        

BUS/475 Guide 4


1) The cost principle requires that when assets are acquired, they be recorded at __________.
A.   list price B.   selling price C.   exchange price paid D.   appraisal value
2) "Generally accepted" in the phrase generally accepted accounting principles means that the principles __________.
A.   have been approved for use by the managements of business firms
B.   have been approved by the Internal Revenue Service C.   have substantial authoritative support D.   are proven theories of accounting
3) The standards and rules that are recognized as a general guide for financial reporting are called __________.
A.   standards of financial reporting B.   operating guidelines C.   generally accepted accounting principles D.   generally accepted accounting standards
4) Sam's Used Cars uses the specific identification method of costing inventory. During March, Sam purchased three cars for $6,000, $7,500, and $9,750, respectively. During March, two cars are sold for $9,000 each. Sam determines that at March 31, the $9,750 car is still on hand. What is Sam’s gross profit for March?
A.   $8,250
B.   $750 C.   $4,500
D.   $5,250
           
5) Hess, Inc. sells a single product with a contribution margin of $12 per unit and fixed costs of $74,400 and sales for the current year of $100,000. How much is Hess’s break even point?
A.   2,133 units
B.   6,200 units
C.   $25,600 D.   4,600 units
           
6) As Plant Controller, you are trying to determine which costs over which you have the most control on a day to day basis. Your goal is to achieve better profitability. The Plant Operations Manager suggests that overhead is the easiest area to directly reduce costs. Which of the following items would be classified as manufacturing overhead?
A.   The western division’s vice president’s salary
B.   Cost of landscaping the corporate office C.   General corporate liability insurance D.   Factory janitor
7) What is the preparation of reports for each level of responsibility in the company’s organization chart called?
A.   Master budgeting analysis
B.   Exception reporting C.   Responsibility reporting
D.   Static reporting
8) Disney’s variable costs are 30% of sales. The company is contemplating an advertising campaign that will cost $22,000. If sales are expected to increase $40,000, by how much will the company's net income increase?
A.   $6,000 B.   $12,000
C.   $28,000
D.   $18,000
           
9) The cost of an asset and its fair market value are __________.
A.   never the same B.   irrelevant when the asset is used by the business in its operations
C.   the same on the date of acquisition D.   the same when the asset is sold
10) Which one of the following is a product cost?
A.   Indirect labor B.   Sales person’s salaries
C.   Advertising costs D.   Office salaries
11) What exists when budgeted costs exceed actual results?
A.   A budgeting error B.   An unfavorable difference
C.   An excess profit D.   A favorable difference
12) The income statement and balance sheet columns of Pine Company's worksheet reflects the following totals:
                        Income Statement                  Balance Sheet
            Dr.       Cr.                   Dr.       Cr.
Totals              $58,000           $48,000                       $34,000           $44,000
           

Closing entries are necessary for __________.
A.   permanent accounts only B.   both permanent and temporary accounts
C.   permanent or real accounts only D.   temporary accounts only
13) Managerial accounting __________.
A.   is concerned with costing products B.   pertains to the entity as a whole and is highly aggregated
C.   places emphasis on special-purpose information D.   is governed by generally accepted accounting principles
           
14) H55 Company sells two products, beer and wine. Beer has a 10 percent profit margin and wine has a 12 percent profit margin. Beer has a 27 percent contribution margin and wine has a 25 percent contribution margin. If other factors are equal, which product should H55 push to customers?
A.   Beer B.   Selling either results in the same additional income for the company
C.   It should sell an equal quantity of both D.   Wine
15) Lekeisha's income exceeds her expenditures. Lekeisha is a __________.
A.   saver who demands money from the financial system B.   borrower who demands money from the financial system
C.   borrower who supplies money to the financial system D.   saver who supplies money to the financial system
16) Maurice receives $100 as a birthday gift. In deciding how to spend the money, he narrows his options down to four choices: Option A, Option B, Option C, and Option D. Each option costs $100. Finally he decides on Option B. The opportunity cost of this decision is __________.
A.   the value to Maurice of the option he would have chosen had Option B not been available
B.   $100 C.   $300 D.   the value to Maurice of Options A, C and D combined
17) A production possibilities frontier will be a straight line if __________.
A.   the economy is producing efficiently B.   the economy is engaged in trade with at least one other economy C.   increasing the production of one good by x units entails no opportunity cost in terms of the other good
D.   increasing the production of one good by x units entails a constant opportunity cost in terms of the other good
           
18) In economics, the cost of something is __________.
A.   what you give up to get it B.   often impossible to quantify, even in principle C.   the dollar amount of obtaining it D.   always measured in units of time given up to get it
           
19) A tax on an imported good is called a __________.
A.   supply tax
B.   trade tax C.   quota D.   tariff
20) Which of the following statements about GDP is correct?
A.   GDP is to a nation’s economy as household income is to a household. B.   GDP increases if the total population increases. C.   GDP measures two things at once: the total income of everyone in the economy and the unemployment rate.
D.   Money continuously flows from households to government and then back to households, and GDP measures this flow of money.
           
21) In computing GDP, market prices are used to value final goods and services because __________.
A.   if market prices are out of line with how people value goods, the government sets price ceilings and price floors
B.   Market prices are not used in computing GDP C.   market prices reflect the values of goods and services D.   market prices do not change much over time, so it is easy to make comparisons between years

22) Which of the following statements about GDP is correct?
A.   Nominal GDP values production at market prices, whereas real GDP values production at the cost of the resources used in the production process.
B.   Nominal GDP consistently underestimates the value of production, whereas real GDP consistently overestimates the value of production.
C.   Nominal GDP values production at current prices, whereas real GDP values production at constant prices.
D.   Nominal GDP values production at constant prices, whereas real GDP values production at current prices.
           
23) Which of the following is not correct?
A.   The U.S. debt per-person is large compared with average lifetime income.
B.   In 2005, the U.S. government had a deficit. C.   A potential cost of deficits is that they reduce national saving, thereby reducing growth of the capital stock and output growth.
D.   Deficits give people the opportunity to consume at the expense of their children, but they do not require them to do so.
           
24) The part of the balance of payments account that lists all long-term flows of payments is called the:
A.   balance of trade. B.   financial and capital account.
C.   government financial account.
D.   current account.
25) Edward Prescott and Finn Kydland won the Nobel Prize in Economics in 2004. One of their contributions was to argue that if a central bank could convince people to expect zero inflation, then the Fed would be tempted to raise output by increasing inflation. This possibility is known as __________.
A.   the sacrifice ratio dilemma B.   the monetary policy reaction lag
C.   the time inconsistency of policy
D.   inflation targeting
26) In general, the longest lag for __________.
A.   fiscal policy is the time it takes to change policy, while for monetary policy the longest lag is the time it takes for policy to affect aggregate demand
B.   both fiscal and monetary policy is the time it takes for policy to affect aggregate demand
C.   monetary policy is the time it takes to change policy, while for fiscal policy the longest lag is the time it takes for policy to affect aggregate demand
D.   both fiscal and monetary policy is the time it takes to change policy
27) Consider two items that might be included in GDP: (1) The estimated rental value of owner-occupied housing; and (2) purchases of newly-constructed homes. How are these two items accounted for when GDP is calculated?
A.   Only item (2) is included in GDP and it is included in the investment component.
B.   Item (1) is included in the consumption component, while item (2) is included in the investment component.
C.   Item (1) is included in the investment component, while item (2) is included in the consumption component.
D.   Both item (1) and item (2) are included in the consumption component of GDP.

28) Managers will utilize __________ skills with increasing frequency as they rise within an organization.
A.   Professional B.   Interpersonal and communication
C.   Technical D.   Professional E.   Conceptual and decision
29) Which of these represent skills that managers need?
A.   Interpersonal, quantitative, and professional B.   Technical, interpersonal & communication and conceptual & decision making
C.   Professional, technical and interpersonal & communication D.   Conceptual & decision making, professional and technical E.   Interpersonal & communication, conceptual & decision making and professional
           
30) Building a dynamic organization is another way of describing which function of management?
A.   Staffing B.   Organizing
C.   Leading D.   Controlling
E.   Planning
31) Your roommate is interested in starting a business and everybody has been giving him different information about being an entrepreneur. Since you have been studying about entrepreneurship and new ventures, which of these would you tell him is true?
A.   Anyone can start a business B.   All entrepreneurs need venture capital in order to get started C.   Successful entrepreneurs take very careful, calculated risks D.   Entrepreneurs are their own bosses and completely independent
E.   Money should not be considered a start-up ingredient
32) The term used to refer to all kinds of differences including religious affiliation, age, disability status, economic class and lifestyle in addition to gender, race, ethnicity and nationality is:
A.   Diversity B.   Managerial ethics
C.   Recruiting D.   Employment E.   Selection
33) A manager's ability to stimulate people to be high performers is referred to as:
A.   Planning B.   Supervising
C.   Controlling
D.   Organizing E.   Leading
34) A series of quality standards developed by a committee working under the International Organization for Standardization to improve total quality in all businesses for the benefit of both producers and consumers is:
A.   Total quality management B.   Customer-based integration C.   Computer-integrated manufacturing (CIM)
D.   Just-in-time control (JIT)
E.   ISO 9000
35) Japanese manufacturers' kaizen (continuous improvement) programs enable them to maintain:
A.   A strategic alliance B.   A homogeneous workforce C.   Positive working relationships with all employees
D.   A Learning advantage over their competition E.   Larger, faster facilities
36) Listening to employee suggestions, gaining support for organizational objectives and fostering an atmosphere of teamwork are all considered:
A.   Technical skills B.   Conceptual C.   Professional skills D.   Interpersonal/communication skills
E.   Diagnostic skills
37) The basic components of an effective sexual harassment policy include the following EXCEPT:
A.   To develop an organization wide policy on sexual harassment B.   To establish a means for ongoing training C.   To act immediately when employees complain of sexual harassment
D.   To establish a performance appraisal system E.   To establish a formal complaint procedure
38) Teams that operate separately from the regular work structure and exist temporarily are known as:
A.   Management teams B.   Transnational teams
C.   Self-managed teams
D.   Parallel teams E.   Self-designing teams
           
39) The Aquatic Center, Inc. periodically reviews the goals of the company. During the process, The Aquatic Center managers analyze their current strategies as compared to their competitors, determine goals that they will pursue and decide upon specific actions for each area of the company to take in pursuit of these goals. The Aquatic Center managers have been engaged in the management function of:
A.   Goal Coordination
B.   Controlling C.   Organizing D.   Staffing E.   Planning
40) As related to managing of human resources, diversity refers to:
A.   Differences in demographics (such as age, race, gender, disability status, lifestyle, veteran status, educational level, etc.)
B.   Differences in pay methods (such as hourly, salaried, overtime, hazard-pay, commissioned, etc.)
C.   Differences in employee benefit plans (such as pensions, insurance, vacations, memberships, etc.)
D.   Differences in retention strategies (such as training, hiring, incentives, etc) E.   Differences in recruiting methods (such as newspapers, schools, flyers, magazines, agencies, etc.)
           
41) __________ is the process of working with people and resources to accomplish organizational goals.
A.   Controlling B.   Decision making
C.   Planning D.   Supervising E.   Management
42) Twelve randomly-chosen students were asked how many times they had missed class during a certain semester, with this result: 2, 1, 5, 1, 1, 3, 4, 3, 1, 1, 5, 18.
For this sample, the median is _____.
A.   3 B.   3.5
C.   2.5
D.   2
43) Use the following table to answer question:
 P(S | W) is approximately _____.
A.   .40
B.   .30
C.   .12
D.   .58
           
44) Use the following table to answer question:
 P(M  A) is approximately _____.
A.   .50 B.   .625
C.   .125
D.   .25
45) Dullco Manufacturing claims that its alkaline batteries last forty hours on average in a certain type of portable CD player. Tests on a random sample of 18 batteries showed a mean battery life of 37.8 hours with a standard deviation of 5.4 hours.
In determining the p-value for reporting the study's findings, which of the following is true?
A.   The p-value is equal to .05. B.   The p-value is greater than .05. C.   The p-value cannot be determined without specifying  . D.   The p-value is less than .05.
46) William used a sample of 68 U.S. cities to estimate the relationship between Crime (annual property crimes per 100,000 persons) and Income (median income per capita). His estimated regression equation was Crime = 428 + .050 Income.
Which outcomes would be likely in a bivariate regression on 45 randomly chosen U.S. cities in 2005 with
Y = number of robberies in each city (thousands of robberies) and
X = size of police force in each city (thousands of police)?
A.   High R2 (due to city size). B.   Positive slope (due to city size).
C.   No correlation. D.   Autocorrelation.
47) Twelve randomly-chosen students were asked how many times they had missed class during a certain semester, with this result: 2, 1, 5, 1, 1, 3, 4, 3, 1, 1, 5, 18.
For this sample, which measure of central tendency is least representative of the “typical” student?
A.   Midrange
B.   Mean C.   Mode D.   Median
           
48) Likely reasons for inaccurate control limits would include which of the following?
A.   Process variation was not zero, as expected. B.   The engineering parameter for variance is unknown.
C.   There was insufficient preliminary sampling. D.   The engineers were underpaid for their work.
49) You are faced with a linear programming objective function of:
Max P = $20X + $30Y
and constraints of:
3X + 4Y = 24 (Constraint A)
5X – Y = 18 (Constraint B)
You discover that the shadow price for Constraint A is 7.5 and the shadow price for Constraint B is 0. Which of these statements is TRUE?
A.   The most you would want to pay for an additional unit of A would be $7.50.
B.   You can change quantities of X and Y at no cost for Constraint B. C.   For every additional unit of the objective function you create, the price of A rises by $7.50.
D.   For every additional unit of the objective function you create, you lose 0 units of B.
           
50) A project has three paths. A–B–C has a length of 25 days. A–D–C has a length of 15 days. Finally, A–E–C has a length of 20 days. Which one of the following statements is TRUE?
A.   The expected duration of this project is 25 + 15 + 20 = 60 days.
B.   A–D–C is the critical path. C.   The expected duration of this project is 25 days. D.   A–B–C has the most slack.
51) Which one of the following statements concerning production and staffing plans is best?
A.   A master production schedule is a projected statement of income, costs, and profits.
B.   Aggregation can be performed along three dimensions: product families, labor, and time.
C.   Production plans are based primarily on information from the master production plan.
D.   A staffing plan is the intermediate link between the business plan and the master production schedule.
           
52) While glancing over the sensitivity report, you note that the stitching labor has a shadow price of $10 and a lower limit of 24 hours with an upper limit of 36 hours. If your original right hand value for stitching labor was 30 hours, you know that:
A.   you would lose $80 if one of your workers missed an entire 8 hour shift. B.   the next worker that offers to work an extra 8 hours should receive at least $80.
C.   you would be willing pay up to $60 for someone to work another 6 hours.
D.   you can send someone home 6 hours early and still pay them the $60 they would have earned while on the clock.

53) The costs of delivering products in the _____ channel are much higher than delivering products in the _____ channel.
A.   physical, digital B.   e-commerce, digital
C.   physical, financial D.   digital, e-commerce
E.   digital, physical
54) When customers access a Web site and make purchases, they generate __________.
A.   Tracking cookies B.   Web data C.   Information D.   Clickstream data
E.   Hyperlink data
55) _____ is the integration of economic, social, cultural, and ecological facets of life, enabled by information.
A.   regionalization B.   globalization C.   nationalization D.   business environment
           
56) Various organizations that promote fair and responsible use of information systems often develop __________.
A.   a code of ethics B.   responsibility charters
C.   a strategic plan D.   a mission statement E.   a goals outline
57) What is _____ is not necessarily _____.
A.   Illegal, unethical B.   Unethical, legal C.   Ethical, illegal D.   Unethical, illegal
E.   Ethical, legal
58) _____ provides users with a view of what is happening, where _____ addresses why it is happening.
A.   Multidimensional data analysis, structured query language
B.   Multidimensional data analysis, neural networks C.   Data mining, multidimensional data analysis D.   Data mining, expert system E.   Multidimensional data analysis, data mining
59) Computer support is greatest for which of the following problems?
A.   Semistructured and strategic planning B.   Semistructured and management control
C.   Unstructured and operational control D.   Structured and operational control E.   Structured and management control
60) The management cockpit best exemplifies which type of system?
A.   Decision support system B.   Functional area information system
C.   Expert system D.   Digital dashboard E.   Group decision support system
61) _____ is the efficient and effective execution of specific tasks.
A.   Operational control
B.   Expertise C.   Management control
D.   Strategic planning E.   Wisdom
62) Geocoding is __________.
A.   accessing geographical information B.   integrating maps with spatially oriented databases and other databases
C.   integrating organizational transactions with spatially oriented databases D.   programming spatially oriented databases E.   encrypting spatial information
63) At 8% compounded annually, how long will it take $750 to double?
A.   48 months
B.   6.5 years C.   9 years D.   12 years
64) Which of the following represents an attempt to measure the earnings of the firm’s operations over a given time period?
A.   Cash flow statement
B.   Balance sheet C.   Income statement D.   Quarterly statement
           
65) A machine costs $1,000, has a three-year life, and has an estimated salvage value of $100. It will generate after-tax annual cash flows (ACF) of $600 a year, starting next year. If your required rate of return for the project is 10%, what is the NPV of this investment? (Round your answerwer to the nearest $10.)
A.   $570 B.   $490 C.   $900 D.   -$150
           
66) Disadvantages of using current liabilities as opposed to long-term debt include:
A.   higher cash flow exposure B.   greater risk of illiquidity, and uncertainty of interest costs
C.   decreased risk of liquidity D.   certainty of interest costs E.   uncertainty of future liabilities
67) Petrified Forest Skin Care, Inc. pays an annual perpetual dividend of $1.70 per share. If the stock is currently selling for $21.25 per share, what is the expected rate of return on this stock?
A.   12.5% B.   36.13%
C.   8.0% D.   13.6%
68) Which of the following is most consistent with the hedging principle in working capital management?
A.   Fixed assets should be financed with short-term notes payable. B.   Inventory should be financed with preferred stock. C.   Accounts receivable should be financed with short-term lines of credit.
D.   Borrow on a floating rate basis to finance investments in permanent assets.
           
69) An increase in future value can be caused by an increase in the __________.
A.   original amount invested B.   annual interest rate and number of compounding periods
C.   rate of return D.   dividends paid E.   starting value
70) If the quote for a forward exchange contract is greater than the computed price, the forward contract is:
A.   at equilibrium.
B.   undervalued. C.   a good buy. D.   overvalued.
71) Your company is considering an investment in a project which would require an initial outlay of $300,000 and produce expected cash flows in Years 1 through 5 of $87,385 per year. You have determined that the current after-tax cost of the firm’s capital (required rate of return) for each source of financing is as follows:
Cost of debt     8%
Cost of preferred stock           12%
Cost of common stock            16%
Long-term debt currently makes up 20% of the capital structure, preferred stock 10%, and common stock 70%. What is the net present value of this project?
A.   $1,568
B.   $871 C.   $1,241
D.   $463
72) Suppose you determine that the NPV of a project is $1,525,855. What does that mean?
A.   The project’s IRR would have to be less that the firm’s discount rate. B.   The project would add value to the firm. C.   Under all conditions, the project’s payback would be less than the profitability index.
D.   In all cases, investing in this project would be better than investing in a project that has an NPV of $850,000.
           
73) The common stockholders are most concerned with:
A.   the spread between the return generated on new investments and the investor’s required rate of return.
B.   the size of the firm’s beginning earnings per share. C.   the risk of the investment. D.   the percentage of profits retained.
74) PepsiCo calculates unlevered betas for each peer group in order to:
A.   eliminate different financial risks.
B.   eliminate competitive factors. C.   eliminate judgment factors. D.   eliminate different business risks.
75) Which of the following best represents operating income?
A.   Income from discontinued operations
B.   Earnings before interest and taxes C.   Income from capital gains D.   Income after financing activities
76) In comparison to the buying of final consumers, the purchasing of organizational buyers:
A.   is even less predictable. B.   leans basically toward economy, quality, and dependability.
C.   is always emotional. D.   is strictly economic and not at all emotional. E.   is always based on competitive bids from multiple suppliers.
           
77) The basic objective of the U.S. market-directed economic system is to:
A.   achieve an annual growth rate of at least 10 percent. B.   provide each person with an equal share of the economic output.
C.   make the most efficient use of the country's resources. D.   minimize inflation. E.   satisfy consumer needs as they--the consumers--see them.
78) Comparing GDP for foreign countries can help a marketing manager evaluate potential markets if the manager remembers that:
A.   GDP measures show people's tendency to buy particular products. B.   income tends to be evenly distributed among consumers in most countries. C.   GDP estimates may not be very accurate for very different cultures and economies.
D.   Other countries most likely don’t use the US Dollar as their primary currency.
E.   GDP measures show the degree of competition in a market.
79) A firm's "marketing mix" decision areas would NOT include:
A.   Promotion.
B.   People. C.   Price. D.   Place. E.   Product.
80) __________ is a marketing management aid which refers to how customers think about proposed and/or present brands in a market.
A.   Brand familiarity B.   Positioning
C.   Market scanning D.   Customer relationship management (CRM)
E.   Market segmentation
81) The "four Ps" of a marketing mix are:
A.   Production, Personnel, Price, and Physical Distribution
B.   Promotion, Production, Price, and People C.   Potential customers, Product, Price, and Personal Selling
D.   Product, Price, Promotion, and Profit E.   Product, Place, Promotion, and Price
82) When evaluating macro-marketing:
A.   the evaluation is necessarily subjective. B.   the best approach is to consider the profit generated by individual firms within the overall system.
C.   one must determine how efficiently the society's resources are used. D.   one must consider the society’s role in the marketing system. E.   one must consider each individual firm's role in the marketing system.
83) A cluster analysis of the "toothpaste market" would probably show that:
A.   the broad product-market can be served effectively with one marketing mix.
B.   most consu
          54) When customers access a Web site and make purchases, they generate __________. A. Tracking cookies B. Web data C. Information D. Clickstream data E. Hyperlink data        

BUS/475 Guide 4


1) The cost principle requires that when assets are acquired, they be recorded at __________.
A.   list price B.   selling price C.   exchange price paid D.   appraisal value
2) "Generally accepted" in the phrase generally accepted accounting principles means that the principles __________.
A.   have been approved for use by the managements of business firms
B.   have been approved by the Internal Revenue Service C.   have substantial authoritative support D.   are proven theories of accounting
3) The standards and rules that are recognized as a general guide for financial reporting are called __________.
A.   standards of financial reporting B.   operating guidelines C.   generally accepted accounting principles D.   generally accepted accounting standards
4) Sam's Used Cars uses the specific identification method of costing inventory. During March, Sam purchased three cars for $6,000, $7,500, and $9,750, respectively. During March, two cars are sold for $9,000 each. Sam determines that at March 31, the $9,750 car is still on hand. What is Sam’s gross profit for March?
A.   $8,250
B.   $750 C.   $4,500
D.   $5,250
           
5) Hess, Inc. sells a single product with a contribution margin of $12 per unit and fixed costs of $74,400 and sales for the current year of $100,000. How much is Hess’s break even point?
A.   2,133 units
B.   6,200 units
C.   $25,600 D.   4,600 units
           
6) As Plant Controller, you are trying to determine which costs over which you have the most control on a day to day basis. Your goal is to achieve better profitability. The Plant Operations Manager suggests that overhead is the easiest area to directly reduce costs. Which of the following items would be classified as manufacturing overhead?
A.   The western division’s vice president’s salary
B.   Cost of landscaping the corporate office C.   General corporate liability insurance D.   Factory janitor
7) What is the preparation of reports for each level of responsibility in the company’s organization chart called?
A.   Master budgeting analysis
B.   Exception reporting C.   Responsibility reporting
D.   Static reporting
8) Disney’s variable costs are 30% of sales. The company is contemplating an advertising campaign that will cost $22,000. If sales are expected to increase $40,000, by how much will the company's net income increase?
A.   $6,000 B.   $12,000
C.   $28,000
D.   $18,000
           
9) The cost of an asset and its fair market value are __________.
A.   never the same B.   irrelevant when the asset is used by the business in its operations
C.   the same on the date of acquisition D.   the same when the asset is sold
10) Which one of the following is a product cost?
A.   Indirect labor B.   Sales person’s salaries
C.   Advertising costs D.   Office salaries
11) What exists when budgeted costs exceed actual results?
A.   A budgeting error B.   An unfavorable difference
C.   An excess profit D.   A favorable difference
12) The income statement and balance sheet columns of Pine Company's worksheet reflects the following totals:
                        Income Statement                  Balance Sheet
            Dr.       Cr.                   Dr.       Cr.
Totals              $58,000           $48,000                       $34,000           $44,000
           

Closing entries are necessary for __________.
A.   permanent accounts only B.   both permanent and temporary accounts
C.   permanent or real accounts only D.   temporary accounts only
13) Managerial accounting __________.
A.   is concerned with costing products B.   pertains to the entity as a whole and is highly aggregated
C.   places emphasis on special-purpose information D.   is governed by generally accepted accounting principles
           
14) H55 Company sells two products, beer and wine. Beer has a 10 percent profit margin and wine has a 12 percent profit margin. Beer has a 27 percent contribution margin and wine has a 25 percent contribution margin. If other factors are equal, which product should H55 push to customers?
A.   Beer B.   Selling either results in the same additional income for the company
C.   It should sell an equal quantity of both D.   Wine
15) Lekeisha's income exceeds her expenditures. Lekeisha is a __________.
A.   saver who demands money from the financial system B.   borrower who demands money from the financial system
C.   borrower who supplies money to the financial system D.   saver who supplies money to the financial system
16) Maurice receives $100 as a birthday gift. In deciding how to spend the money, he narrows his options down to four choices: Option A, Option B, Option C, and Option D. Each option costs $100. Finally he decides on Option B. The opportunity cost of this decision is __________.
A.   the value to Maurice of the option he would have chosen had Option B not been available
B.   $100 C.   $300 D.   the value to Maurice of Options A, C and D combined
17) A production possibilities frontier will be a straight line if __________.
A.   the economy is producing efficiently B.   the economy is engaged in trade with at least one other economy C.   increasing the production of one good by x units entails no opportunity cost in terms of the other good
D.   increasing the production of one good by x units entails a constant opportunity cost in terms of the other good
           
18) In economics, the cost of something is __________.
A.   what you give up to get it B.   often impossible to quantify, even in principle C.   the dollar amount of obtaining it D.   always measured in units of time given up to get it
           
19) A tax on an imported good is called a __________.
A.   supply tax
B.   trade tax C.   quota D.   tariff
20) Which of the following statements about GDP is correct?
A.   GDP is to a nation’s economy as household income is to a household. B.   GDP increases if the total population increases. C.   GDP measures two things at once: the total income of everyone in the economy and the unemployment rate.
D.   Money continuously flows from households to government and then back to households, and GDP measures this flow of money.
           
21) In computing GDP, market prices are used to value final goods and services because __________.
A.   if market prices are out of line with how people value goods, the government sets price ceilings and price floors
B.   Market prices are not used in computing GDP C.   market prices reflect the values of goods and services D.   market prices do not change much over time, so it is easy to make comparisons between years

22) Which of the following statements about GDP is correct?
A.   Nominal GDP values production at market prices, whereas real GDP values production at the cost of the resources used in the production process.
B.   Nominal GDP consistently underestimates the value of production, whereas real GDP consistently overestimates the value of production.
C.   Nominal GDP values production at current prices, whereas real GDP values production at constant prices.
D.   Nominal GDP values production at constant prices, whereas real GDP values production at current prices.
           
23) Which of the following is not correct?
A.   The U.S. debt per-person is large compared with average lifetime income.
B.   In 2005, the U.S. government had a deficit. C.   A potential cost of deficits is that they reduce national saving, thereby reducing growth of the capital stock and output growth.
D.   Deficits give people the opportunity to consume at the expense of their children, but they do not require them to do so.
           
24) The part of the balance of payments account that lists all long-term flows of payments is called the:
A.   balance of trade. B.   financial and capital account.
C.   government financial account.
D.   current account.
25) Edward Prescott and Finn Kydland won the Nobel Prize in Economics in 2004. One of their contributions was to argue that if a central bank could convince people to expect zero inflation, then the Fed would be tempted to raise output by increasing inflation. This possibility is known as __________.
A.   the sacrifice ratio dilemma B.   the monetary policy reaction lag
C.   the time inconsistency of policy
D.   inflation targeting
26) In general, the longest lag for __________.
A.   fiscal policy is the time it takes to change policy, while for monetary policy the longest lag is the time it takes for policy to affect aggregate demand
B.   both fiscal and monetary policy is the time it takes for policy to affect aggregate demand
C.   monetary policy is the time it takes to change policy, while for fiscal policy the longest lag is the time it takes for policy to affect aggregate demand
D.   both fiscal and monetary policy is the time it takes to change policy
27) Consider two items that might be included in GDP: (1) The estimated rental value of owner-occupied housing; and (2) purchases of newly-constructed homes. How are these two items accounted for when GDP is calculated?
A.   Only item (2) is included in GDP and it is included in the investment component.
B.   Item (1) is included in the consumption component, while item (2) is included in the investment component.
C.   Item (1) is included in the investment component, while item (2) is included in the consumption component.
D.   Both item (1) and item (2) are included in the consumption component of GDP.

28) Managers will utilize __________ skills with increasing frequency as they rise within an organization.
A.   Professional B.   Interpersonal and communication
C.   Technical D.   Professional E.   Conceptual and decision
29) Which of these represent skills that managers need?
A.   Interpersonal, quantitative, and professional B.   Technical, interpersonal & communication and conceptual & decision making
C.   Professional, technical and interpersonal & communication D.   Conceptual & decision making, professional and technical E.   Interpersonal & communication, conceptual & decision making and professional
           
30) Building a dynamic organization is another way of describing which function of management?
A.   Staffing B.   Organizing
C.   Leading D.   Controlling
E.   Planning
31) Your roommate is interested in starting a business and everybody has been giving him different information about being an entrepreneur. Since you have been studying about entrepreneurship and new ventures, which of these would you tell him is true?
A.   Anyone can start a business B.   All entrepreneurs need venture capital in order to get started C.   Successful entrepreneurs take very careful, calculated risks D.   Entrepreneurs are their own bosses and completely independent
E.   Money should not be considered a start-up ingredient
32) The term used to refer to all kinds of differences including religious affiliation, age, disability status, economic class and lifestyle in addition to gender, race, ethnicity and nationality is:
A.   Diversity B.   Managerial ethics
C.   Recruiting D.   Employment E.   Selection
33) A manager's ability to stimulate people to be high performers is referred to as:
A.   Planning B.   Supervising
C.   Controlling
D.   Organizing E.   Leading
34) A series of quality standards developed by a committee working under the International Organization for Standardization to improve total quality in all businesses for the benefit of both producers and consumers is:
A.   Total quality management B.   Customer-based integration C.   Computer-integrated manufacturing (CIM)
D.   Just-in-time control (JIT)
E.   ISO 9000
35) Japanese manufacturers' kaizen (continuous improvement) programs enable them to maintain:
A.   A strategic alliance B.   A homogeneous workforce C.   Positive working relationships with all employees
D.   A Learning advantage over their competition E.   Larger, faster facilities
36) Listening to employee suggestions, gaining support for organizational objectives and fostering an atmosphere of teamwork are all considered:
A.   Technical skills B.   Conceptual C.   Professional skills D.   Interpersonal/communication skills
E.   Diagnostic skills
37) The basic components of an effective sexual harassment policy include the following EXCEPT:
A.   To develop an organization wide policy on sexual harassment B.   To establish a means for ongoing training C.   To act immediately when employees complain of sexual harassment
D.   To establish a performance appraisal system E.   To establish a formal complaint procedure
38) Teams that operate separately from the regular work structure and exist temporarily are known as:
A.   Management teams B.   Transnational teams
C.   Self-managed teams
D.   Parallel teams E.   Self-designing teams
           
39) The Aquatic Center, Inc. periodically reviews the goals of the company. During the process, The Aquatic Center managers analyze their current strategies as compared to their competitors, determine goals that they will pursue and decide upon specific actions for each area of the company to take in pursuit of these goals. The Aquatic Center managers have been engaged in the management function of:
A.   Goal Coordination
B.   Controlling C.   Organizing D.   Staffing E.   Planning
40) As related to managing of human resources, diversity refers to:
A.   Differences in demographics (such as age, race, gender, disability status, lifestyle, veteran status, educational level, etc.)
B.   Differences in pay methods (such as hourly, salaried, overtime, hazard-pay, commissioned, etc.)
C.   Differences in employee benefit plans (such as pensions, insurance, vacations, memberships, etc.)
D.   Differences in retention strategies (such as training, hiring, incentives, etc) E.   Differences in recruiting methods (such as newspapers, schools, flyers, magazines, agencies, etc.)
           
41) __________ is the process of working with people and resources to accomplish organizational goals.
A.   Controlling B.   Decision making
C.   Planning D.   Supervising E.   Management
42) Twelve randomly-chosen students were asked how many times they had missed class during a certain semester, with this result: 2, 1, 5, 1, 1, 3, 4, 3, 1, 1, 5, 18.
For this sample, the median is _____.
A.   3 B.   3.5
C.   2.5
D.   2
43) Use the following table to answer question:
 P(S | W) is approximately _____.
A.   .40
B.   .30
C.   .12
D.   .58
           
44) Use the following table to answer question:
 P(M  A) is approximately _____.
A.   .50 B.   .625
C.   .125
D.   .25
45) Dullco Manufacturing claims that its alkaline batteries last forty hours on average in a certain type of portable CD player. Tests on a random sample of 18 batteries showed a mean battery life of 37.8 hours with a standard deviation of 5.4 hours.
In determining the p-value for reporting the study's findings, which of the following is true?
A.   The p-value is equal to .05. B.   The p-value is greater than .05. C.   The p-value cannot be determined without specifying  . D.   The p-value is less than .05.
46) William used a sample of 68 U.S. cities to estimate the relationship between Crime (annual property crimes per 100,000 persons) and Income (median income per capita). His estimated regression equation was Crime = 428 + .050 Income.
Which outcomes would be likely in a bivariate regression on 45 randomly chosen U.S. cities in 2005 with
Y = number of robberies in each city (thousands of robberies) and
X = size of police force in each city (thousands of police)?
A.   High R2 (due to city size). B.   Positive slope (due to city size).
C.   No correlation. D.   Autocorrelation.
47) Twelve randomly-chosen students were asked how many times they had missed class during a certain semester, with this result: 2, 1, 5, 1, 1, 3, 4, 3, 1, 1, 5, 18.
For this sample, which measure of central tendency is least representative of the “typical” student?
A.   Midrange
B.   Mean C.   Mode D.   Median
           
48) Likely reasons for inaccurate control limits would include which of the following?
A.   Process variation was not zero, as expected. B.   The engineering parameter for variance is unknown.
C.   There was insufficient preliminary sampling. D.   The engineers were underpaid for their work.
49) You are faced with a linear programming objective function of:
Max P = $20X + $30Y
and constraints of:
3X + 4Y = 24 (Constraint A)
5X – Y = 18 (Constraint B)
You discover that the shadow price for Constraint A is 7.5 and the shadow price for Constraint B is 0. Which of these statements is TRUE?
A.   The most you would want to pay for an additional unit of A would be $7.50.
B.   You can change quantities of X and Y at no cost for Constraint B. C.   For every additional unit of the objective function you create, the price of A rises by $7.50.
D.   For every additional unit of the objective function you create, you lose 0 units of B.
           
50) A project has three paths. A–B–C has a length of 25 days. A–D–C has a length of 15 days. Finally, A–E–C has a length of 20 days. Which one of the following statements is TRUE?
A.   The expected duration of this project is 25 + 15 + 20 = 60 days.
B.   A–D–C is the critical path. C.   The expected duration of this project is 25 days. D.   A–B–C has the most slack.
51) Which one of the following statements concerning production and staffing plans is best?
A.   A master production schedule is a projected statement of income, costs, and profits.
B.   Aggregation can be performed along three dimensions: product families, labor, and time.
C.   Production plans are based primarily on information from the master production plan.
D.   A staffing plan is the intermediate link between the business plan and the master production schedule.
           
52) While glancing over the sensitivity report, you note that the stitching labor has a shadow price of $10 and a lower limit of 24 hours with an upper limit of 36 hours. If your original right hand value for stitching labor was 30 hours, you know that:
A.   you would lose $80 if one of your workers missed an entire 8 hour shift. B.   the next worker that offers to work an extra 8 hours should receive at least $80.
C.   you would be willing pay up to $60 for someone to work another 6 hours.
D.   you can send someone home 6 hours early and still pay them the $60 they would have earned while on the clock.

53) The costs of delivering products in the _____ channel are much higher than delivering products in the _____ channel.
A.   physical, digital B.   e-commerce, digital
C.   physical, financial D.   digital, e-commerce
E.   digital, physical
54) When customers access a Web site and make purchases, they generate __________.
A.   Tracking cookies B.   Web data C.   Information D.   Clickstream data
E.   Hyperlink data
55) _____ is the integration of economic, social, cultural, and ecological facets of life, enabled by information.
A.   regionalization B.   globalization C.   nationalization D.   business environment
           
56) Various organizations that promote fair and responsible use of information systems often develop __________.
A.   a code of ethics B.   responsibility charters
C.   a strategic plan D.   a mission statement E.   a goals outline
57) What is _____ is not necessarily _____.
A.   Illegal, unethical B.   Unethical, legal C.   Ethical, illegal D.   Unethical, illegal
E.   Ethical, legal
58) _____ provides users with a view of what is happening, where _____ addresses why it is happening.
A.   Multidimensional data analysis, structured query language
B.   Multidimensional data analysis, neural networks C.   Data mining, multidimensional data analysis D.   Data mining, expert system E.   Multidimensional data analysis, data mining
59) Computer support is greatest for which of the following problems?
A.   Semistructured and strategic planning B.   Semistructured and management control
C.   Unstructured and operational control D.   Structured and operational control E.   Structured and management control
60) The management cockpit best exemplifies which type of system?
A.   Decision support system B.   Functional area information system
C.   Expert system D.   Digital dashboard E.   Group decision support system
61) _____ is the efficient and effective execution of specific tasks.
A.   Operational control
B.   Expertise C.   Management control
D.   Strategic planning E.   Wisdom
62) Geocoding is __________.
A.   accessing geographical information B.   integrating maps with spatially oriented databases and other databases
C.   integrating organizational transactions with spatially oriented databases D.   programming spatially oriented databases E.   encrypting spatial information
63) At 8% compounded annually, how long will it take $750 to double?
A.   48 months
B.   6.5 years C.   9 years D.   12 years
64) Which of the following represents an attempt to measure the earnings of the firm’s operations over a given time period?
A.   Cash flow statement
B.   Balance sheet C.   Income statement D.   Quarterly statement
           
65) A machine costs $1,000, has a three-year life, and has an estimated salvage value of $100. It will generate after-tax annual cash flows (ACF) of $600 a year, starting next year. If your required rate of return for the project is 10%, what is the NPV of this investment? (Round your answerwer to the nearest $10.)
A.   $570 B.   $490 C.   $900 D.   -$150
           
66) Disadvantages of using current liabilities as opposed to long-term debt include:
A.   higher cash flow exposure B.   greater risk of illiquidity, and uncertainty of interest costs
C.   decreased risk of liquidity D.   certainty of interest costs E.   uncertainty of future liabilities
67) Petrified Forest Skin Care, Inc. pays an annual perpetual dividend of $1.70 per share. If the stock is currently selling for $21.25 per share, what is the expected rate of return on this stock?
A.   12.5% B.   36.13%
C.   8.0% D.   13.6%
68) Which of the following is most consistent with the hedging principle in working capital management?
A.   Fixed assets should be financed with short-term notes payable. B.   Inventory should be financed with preferred stock. C.   Accounts receivable should be financed with short-term lines of credit.
D.   Borrow on a floating rate basis to finance investments in permanent assets.
           
69) An increase in future value can be caused by an increase in the __________.
A.   original amount invested B.   annual interest rate and number of compounding periods
C.   rate of return D.   dividends paid E.   starting value
70) If the quote for a forward exchange contract is greater than the computed price, the forward contract is:
A.   at equilibrium.
B.   undervalued. C.   a good buy. D.   overvalued.
71) Your company is considering an investment in a project which would require an initial outlay of $300,000 and produce expected cash flows in Years 1 through 5 of $87,385 per year. You have determined that the current after-tax cost of the firm’s capital (required rate of return) for each source of financing is as follows:
Cost of debt     8%
Cost of preferred stock           12%
Cost of common stock            16%
Long-term debt currently makes up 20% of the capital structure, preferred stock 10%, and common stock 70%. What is the net present value of this project?
A.   $1,568
B.   $871 C.   $1,241
D.   $463
72) Suppose you determine that the NPV of a project is $1,525,855. What does that mean?
A.   The project’s IRR would have to be less that the firm’s discount rate. B.   The project would add value to the firm. C.   Under all conditions, the project’s payback would be less than the profitability index.
D.   In all cases, investing in this project would be better than investing in a project that has an NPV of $850,000.
           
73) The common stockholders are most concerned with:
A.   the spread between the return generated on new investments and the investor’s required rate of return.
B.   the size of the firm’s beginning earnings per share. C.   the risk of the investment. D.   the percentage of profits retained.
74) PepsiCo calculates unlevered betas for each peer group in order to:
A.   eliminate different financial risks.
B.   eliminate competitive factors. C.   eliminate judgment factors. D.   eliminate different business risks.
75) Which of the following best represents operating income?
A.   Income from discontinued operations
B.   Earnings before interest and taxes C.   Income from capital gains D.   Income after financing activities
76) In comparison to the buying of final consumers, the purchasing of organizational buyers:
A.   is even less predictable. B.   leans basically toward economy, quality, and dependability.
C.   is always emotional. D.   is strictly economic and not at all emotional. E.   is always based on competitive bids from multiple suppliers.
           
77) The basic objective of the U.S. market-directed economic system is to:
A.   achieve an annual growth rate of at least 10 percent. B.   provide each person with an equal share of the economic output.
C.   make the most efficient use of the country's resources. D.   minimize inflation. E.   satisfy consumer needs as they--the consumers--see them.
78) Comparing GDP for foreign countries can help a marketing manager evaluate potential markets if the manager remembers that:
A.   GDP measures show people's tendency to buy particular products. B.   income tends to be evenly distributed among consumers in most countries. C.   GDP estimates may not be very accurate for very different cultures and economies.
D.   Other countries most likely don’t use the US Dollar as their primary currency.
E.   GDP measures show the degree of competition in a market.
79) A firm's "marketing mix" decision areas would NOT include:
A.   Promotion.
B.   People. C.   Price. D.   Place. E.   Product.
80) __________ is a marketing management aid which refers to how customers think about proposed and/or present brands in a market.
A.   Brand familiarity B.   Positioning
C.   Market scanning D.   Customer relationship management (CRM)
E.   Market segmentation
81) The "four Ps" of a marketing mix are:
A.   Production, Personnel, Price, and Physical Distribution
B.   Promotion, Production, Price, and People C.   Potential customers, Product, Price, and Personal Selling
D.   Product, Price, Promotion, and Profit E.   Product, Place, Promotion, and Price
82) When evaluating macro-marketing:
A.   the evaluation is necessarily subjective. B.   the best approach is to consider the profit generated by individual firms within the overall system.
C.   one must determine how efficiently the society's resources are used. D.   one must consider the society’s role in the marketing system. E.   one must consider each individual firm's role in the marketing system.
83) A cluster analysis of the "toothpaste market" would probably show that:
A.   the broad product-market can be served effectively with one marketing mix.
B.   most consu
          55) _____ is the integration of economic, social, cultural, and ecological facets of life, enabled by information. A. regionalization B. globalization C. nationalization D. business environment         

BUS/475 Guide 4


1) The cost principle requires that when assets are acquired, they be recorded at __________.
A.   list price B.   selling price C.   exchange price paid D.   appraisal value
2) "Generally accepted" in the phrase generally accepted accounting principles means that the principles __________.
A.   have been approved for use by the managements of business firms
B.   have been approved by the Internal Revenue Service C.   have substantial authoritative support D.   are proven theories of accounting
3) The standards and rules that are recognized as a general guide for financial reporting are called __________.
A.   standards of financial reporting B.   operating guidelines C.   generally accepted accounting principles D.   generally accepted accounting standards
4) Sam's Used Cars uses the specific identification method of costing inventory. During March, Sam purchased three cars for $6,000, $7,500, and $9,750, respectively. During March, two cars are sold for $9,000 each. Sam determines that at March 31, the $9,750 car is still on hand. What is Sam’s gross profit for March?
A.   $8,250
B.   $750 C.   $4,500
D.   $5,250
           
5) Hess, Inc. sells a single product with a contribution margin of $12 per unit and fixed costs of $74,400 and sales for the current year of $100,000. How much is Hess’s break even point?
A.   2,133 units
B.   6,200 units
C.   $25,600 D.   4,600 units
           
6) As Plant Controller, you are trying to determine which costs over which you have the most control on a day to day basis. Your goal is to achieve better profitability. The Plant Operations Manager suggests that overhead is the easiest area to directly reduce costs. Which of the following items would be classified as manufacturing overhead?
A.   The western division’s vice president’s salary
B.   Cost of landscaping the corporate office C.   General corporate liability insurance D.   Factory janitor
7) What is the preparation of reports for each level of responsibility in the company’s organization chart called?
A.   Master budgeting analysis
B.   Exception reporting C.   Responsibility reporting
D.   Static reporting
8) Disney’s variable costs are 30% of sales. The company is contemplating an advertising campaign that will cost $22,000. If sales are expected to increase $40,000, by how much will the company's net income increase?
A.   $6,000 B.   $12,000
C.   $28,000
D.   $18,000
           
9) The cost of an asset and its fair market value are __________.
A.   never the same B.   irrelevant when the asset is used by the business in its operations
C.   the same on the date of acquisition D.   the same when the asset is sold
10) Which one of the following is a product cost?
A.   Indirect labor B.   Sales person’s salaries
C.   Advertising costs D.   Office salaries
11) What exists when budgeted costs exceed actual results?
A.   A budgeting error B.   An unfavorable difference
C.   An excess profit D.   A favorable difference
12) The income statement and balance sheet columns of Pine Company's worksheet reflects the following totals:
                        Income Statement                  Balance Sheet
            Dr.       Cr.                   Dr.       Cr.
Totals              $58,000           $48,000                       $34,000           $44,000
           

Closing entries are necessary for __________.
A.   permanent accounts only B.   both permanent and temporary accounts
C.   permanent or real accounts only D.   temporary accounts only
13) Managerial accounting __________.
A.   is concerned with costing products B.   pertains to the entity as a whole and is highly aggregated
C.   places emphasis on special-purpose information D.   is governed by generally accepted accounting principles
           
14) H55 Company sells two products, beer and wine. Beer has a 10 percent profit margin and wine has a 12 percent profit margin. Beer has a 27 percent contribution margin and wine has a 25 percent contribution margin. If other factors are equal, which product should H55 push to customers?
A.   Beer B.   Selling either results in the same additional income for the company
C.   It should sell an equal quantity of both D.   Wine
15) Lekeisha's income exceeds her expenditures. Lekeisha is a __________.
A.   saver who demands money from the financial system B.   borrower who demands money from the financial system
C.   borrower who supplies money to the financial system D.   saver who supplies money to the financial system
16) Maurice receives $100 as a birthday gift. In deciding how to spend the money, he narrows his options down to four choices: Option A, Option B, Option C, and Option D. Each option costs $100. Finally he decides on Option B. The opportunity cost of this decision is __________.
A.   the value to Maurice of the option he would have chosen had Option B not been available
B.   $100 C.   $300 D.   the value to Maurice of Options A, C and D combined
17) A production possibilities frontier will be a straight line if __________.
A.   the economy is producing efficiently B.   the economy is engaged in trade with at least one other economy C.   increasing the production of one good by x units entails no opportunity cost in terms of the other good
D.   increasing the production of one good by x units entails a constant opportunity cost in terms of the other good
           
18) In economics, the cost of something is __________.
A.   what you give up to get it B.   often impossible to quantify, even in principle C.   the dollar amount of obtaining it D.   always measured in units of time given up to get it
           
19) A tax on an imported good is called a __________.
A.   supply tax
B.   trade tax C.   quota D.   tariff
20) Which of the following statements about GDP is correct?
A.   GDP is to a nation’s economy as household income is to a household. B.   GDP increases if the total population increases. C.   GDP measures two things at once: the total income of everyone in the economy and the unemployment rate.
D.   Money continuously flows from households to government and then back to households, and GDP measures this flow of money.
           
21) In computing GDP, market prices are used to value final goods and services because __________.
A.   if market prices are out of line with how people value goods, the government sets price ceilings and price floors
B.   Market prices are not used in computing GDP C.   market prices reflect the values of goods and services D.   market prices do not change much over time, so it is easy to make comparisons between years

22) Which of the following statements about GDP is correct?
A.   Nominal GDP values production at market prices, whereas real GDP values production at the cost of the resources used in the production process.
B.   Nominal GDP consistently underestimates the value of production, whereas real GDP consistently overestimates the value of production.
C.   Nominal GDP values production at current prices, whereas real GDP values production at constant prices.
D.   Nominal GDP values production at constant prices, whereas real GDP values production at current prices.
           
23) Which of the following is not correct?
A.   The U.S. debt per-person is large compared with average lifetime income.
B.   In 2005, the U.S. government had a deficit. C.   A potential cost of deficits is that they reduce national saving, thereby reducing growth of the capital stock and output growth.
D.   Deficits give people the opportunity to consume at the expense of their children, but they do not require them to do so.
           
24) The part of the balance of payments account that lists all long-term flows of payments is called the:
A.   balance of trade. B.   financial and capital account.
C.   government financial account.
D.   current account.
25) Edward Prescott and Finn Kydland won the Nobel Prize in Economics in 2004. One of their contributions was to argue that if a central bank could convince people to expect zero inflation, then the Fed would be tempted to raise output by increasing inflation. This possibility is known as __________.
A.   the sacrifice ratio dilemma B.   the monetary policy reaction lag
C.   the time inconsistency of policy
D.   inflation targeting
26) In general, the longest lag for __________.
A.   fiscal policy is the time it takes to change policy, while for monetary policy the longest lag is the time it takes for policy to affect aggregate demand
B.   both fiscal and monetary policy is the time it takes for policy to affect aggregate demand
C.   monetary policy is the time it takes to change policy, while for fiscal policy the longest lag is the time it takes for policy to affect aggregate demand
D.   both fiscal and monetary policy is the time it takes to change policy
27) Consider two items that might be included in GDP: (1) The estimated rental value of owner-occupied housing; and (2) purchases of newly-constructed homes. How are these two items accounted for when GDP is calculated?
A.   Only item (2) is included in GDP and it is included in the investment component.
B.   Item (1) is included in the consumption component, while item (2) is included in the investment component.
C.   Item (1) is included in the investment component, while item (2) is included in the consumption component.
D.   Both item (1) and item (2) are included in the consumption component of GDP.

28) Managers will utilize __________ skills with increasing frequency as they rise within an organization.
A.   Professional B.   Interpersonal and communication
C.   Technical D.   Professional E.   Conceptual and decision
29) Which of these represent skills that managers need?
A.   Interpersonal, quantitative, and professional B.   Technical, interpersonal & communication and conceptual & decision making
C.   Professional, technical and interpersonal & communication D.   Conceptual & decision making, professional and technical E.   Interpersonal & communication, conceptual & decision making and professional
           
30) Building a dynamic organization is another way of describing which function of management?
A.   Staffing B.   Organizing
C.   Leading D.   Controlling
E.   Planning
31) Your roommate is interested in starting a business and everybody has been giving him different information about being an entrepreneur. Since you have been studying about entrepreneurship and new ventures, which of these would you tell him is true?
A.   Anyone can start a business B.   All entrepreneurs need venture capital in order to get started C.   Successful entrepreneurs take very careful, calculated risks D.   Entrepreneurs are their own bosses and completely independent
E.   Money should not be considered a start-up ingredient
32) The term used to refer to all kinds of differences including religious affiliation, age, disability status, economic class and lifestyle in addition to gender, race, ethnicity and nationality is:
A.   Diversity B.   Managerial ethics
C.   Recruiting D.   Employment E.   Selection
33) A manager's ability to stimulate people to be high performers is referred to as:
A.   Planning B.   Supervising
C.   Controlling
D.   Organizing E.   Leading
34) A series of quality standards developed by a committee working under the International Organization for Standardization to improve total quality in all businesses for the benefit of both producers and consumers is:
A.   Total quality management B.   Customer-based integration C.   Computer-integrated manufacturing (CIM)
D.   Just-in-time control (JIT)
E.   ISO 9000
35) Japanese manufacturers' kaizen (continuous improvement) programs enable them to maintain:
A.   A strategic alliance B.   A homogeneous workforce C.   Positive working relationships with all employees
D.   A Learning advantage over their competition E.   Larger, faster facilities
36) Listening to employee suggestions, gaining support for organizational objectives and fostering an atmosphere of teamwork are all considered:
A.   Technical skills B.   Conceptual C.   Professional skills D.   Interpersonal/communication skills
E.   Diagnostic skills
37) The basic components of an effective sexual harassment policy include the following EXCEPT:
A.   To develop an organization wide policy on sexual harassment B.   To establish a means for ongoing training C.   To act immediately when employees complain of sexual harassment
D.   To establish a performance appraisal system E.   To establish a formal complaint procedure
38) Teams that operate separately from the regular work structure and exist temporarily are known as:
A.   Management teams B.   Transnational teams
C.   Self-managed teams
D.   Parallel teams E.   Self-designing teams
           
39) The Aquatic Center, Inc. periodically reviews the goals of the company. During the process, The Aquatic Center managers analyze their current strategies as compared to their competitors, determine goals that they will pursue and decide upon specific actions for each area of the company to take in pursuit of these goals. The Aquatic Center managers have been engaged in the management function of:
A.   Goal Coordination
B.   Controlling C.   Organizing D.   Staffing E.   Planning
40) As related to managing of human resources, diversity refers to:
A.   Differences in demographics (such as age, race, gender, disability status, lifestyle, veteran status, educational level, etc.)
B.   Differences in pay methods (such as hourly, salaried, overtime, hazard-pay, commissioned, etc.)
C.   Differences in employee benefit plans (such as pensions, insurance, vacations, memberships, etc.)
D.   Differences in retention strategies (such as training, hiring, incentives, etc) E.   Differences in recruiting methods (such as newspapers, schools, flyers, magazines, agencies, etc.)
           
41) __________ is the process of working with people and resources to accomplish organizational goals.
A.   Controlling B.   Decision making
C.   Planning D.   Supervising E.   Management
42) Twelve randomly-chosen students were asked how many times they had missed class during a certain semester, with this result: 2, 1, 5, 1, 1, 3, 4, 3, 1, 1, 5, 18.
For this sample, the median is _____.
A.   3 B.   3.5
C.   2.5
D.   2
43) Use the following table to answer question:
 P(S | W) is approximately _____.
A.   .40
B.   .30
C.   .12
D.   .58
           
44) Use the following table to answer question:
 P(M  A) is approximately _____.
A.   .50 B.   .625
C.   .125
D.   .25
45) Dullco Manufacturing claims that its alkaline batteries last forty hours on average in a certain type of portable CD player. Tests on a random sample of 18 batteries showed a mean battery life of 37.8 hours with a standard deviation of 5.4 hours.
In determining the p-value for reporting the study's findings, which of the following is true?
A.   The p-value is equal to .05. B.   The p-value is greater than .05. C.   The p-value cannot be determined without specifying  . D.   The p-value is less than .05.
46) William used a sample of 68 U.S. cities to estimate the relationship between Crime (annual property crimes per 100,000 persons) and Income (median income per capita). His estimated regression equation was Crime = 428 + .050 Income.
Which outcomes would be likely in a bivariate regression on 45 randomly chosen U.S. cities in 2005 with
Y = number of robberies in each city (thousands of robberies) and
X = size of police force in each city (thousands of police)?
A.   High R2 (due to city size). B.   Positive slope (due to city size).
C.   No correlation. D.   Autocorrelation.
47) Twelve randomly-chosen students were asked how many times they had missed class during a certain semester, with this result: 2, 1, 5, 1, 1, 3, 4, 3, 1, 1, 5, 18.
For this sample, which measure of central tendency is least representative of the “typical” student?
A.   Midrange
B.   Mean C.   Mode D.   Median
           
48) Likely reasons for inaccurate control limits would include which of the following?
A.   Process variation was not zero, as expected. B.   The engineering parameter for variance is unknown.
C.   There was insufficient preliminary sampling. D.   The engineers were underpaid for their work.
49) You are faced with a linear programming objective function of:
Max P = $20X + $30Y
and constraints of:
3X + 4Y = 24 (Constraint A)
5X – Y = 18 (Constraint B)
You discover that the shadow price for Constraint A is 7.5 and the shadow price for Constraint B is 0. Which of these statements is TRUE?
A.   The most you would want to pay for an additional unit of A would be $7.50.
B.   You can change quantities of X and Y at no cost for Constraint B. C.   For every additional unit of the objective function you create, the price of A rises by $7.50.
D.   For every additional unit of the objective function you create, you lose 0 units of B.
           
50) A project has three paths. A–B–C has a length of 25 days. A–D–C has a length of 15 days. Finally, A–E–C has a length of 20 days. Which one of the following statements is TRUE?
A.   The expected duration of this project is 25 + 15 + 20 = 60 days.
B.   A–D–C is the critical path. C.   The expected duration of this project is 25 days. D.   A–B–C has the most slack.
51) Which one of the following statements concerning production and staffing plans is best?
A.   A master production schedule is a projected statement of income, costs, and profits.
B.   Aggregation can be performed along three dimensions: product families, labor, and time.
C.   Production plans are based primarily on information from the master production plan.
D.   A staffing plan is the intermediate link between the business plan and the master production schedule.
           
52) While glancing over the sensitivity report, you note that the stitching labor has a shadow price of $10 and a lower limit of 24 hours with an upper limit of 36 hours. If your original right hand value for stitching labor was 30 hours, you know that:
A.   you would lose $80 if one of your workers missed an entire 8 hour shift. B.   the next worker that offers to work an extra 8 hours should receive at least $80.
C.   you would be willing pay up to $60 for someone to work another 6 hours.
D.   you can send someone home 6 hours early and still pay them the $60 they would have earned while on the clock.

53) The costs of delivering products in the _____ channel are much higher than delivering products in the _____ channel.
A.   physical, digital B.   e-commerce, digital
C.   physical, financial D.   digital, e-commerce
E.   digital, physical
54) When customers access a Web site and make purchases, they generate __________.
A.   Tracking cookies B.   Web data C.   Information D.   Clickstream data
E.   Hyperlink data
55) _____ is the integration of economic, social, cultural, and ecological facets of life, enabled by information.
A.   regionalization B.   globalization C.   nationalization D.   business environment
           
56) Various organizations that promote fair and responsible use of information systems often develop __________.
A.   a code of ethics B.   responsibility charters
C.   a strategic plan D.   a mission statement E.   a goals outline
57) What is _____ is not necessarily _____.
A.   Illegal, unethical B.   Unethical, legal C.   Ethical, illegal D.   Unethical, illegal
E.   Ethical, legal
58) _____ provides users with a view of what is happening, where _____ addresses why it is happening.
A.   Multidimensional data analysis, structured query language
B.   Multidimensional data analysis, neural networks C.   Data mining, multidimensional data analysis D.   Data mining, expert system E.   Multidimensional data analysis, data mining
59) Computer support is greatest for which of the following problems?
A.   Semistructured and strategic planning B.   Semistructured and management control
C.   Unstructured and operational control D.   Structured and operational control E.   Structured and management control
60) The management cockpit best exemplifies which type of system?
A.   Decision support system B.   Functional area information system
C.   Expert system D.   Digital dashboard E.   Group decision support system
61) _____ is the efficient and effective execution of specific tasks.
A.   Operational control
B.   Expertise C.   Management control
D.   Strategic planning E.   Wisdom
62) Geocoding is __________.
A.   accessing geographical information B.   integrating maps with spatially oriented databases and other databases
C.   integrating organizational transactions with spatially oriented databases D.   programming spatially oriented databases E.   encrypting spatial information
63) At 8% compounded annually, how long will it take $750 to double?
A.   48 months
B.   6.5 years C.   9 years D.   12 years
64) Which of the following represents an attempt to measure the earnings of the firm’s operations over a given time period?
A.   Cash flow statement
B.   Balance sheet C.   Income statement D.   Quarterly statement
           
65) A machine costs $1,000, has a three-year life, and has an estimated salvage value of $100. It will generate after-tax annual cash flows (ACF) of $600 a year, starting next year. If your required rate of return for the project is 10%, what is the NPV of this investment? (Round your answerwer to the nearest $10.)
A.   $570 B.   $490 C.   $900 D.   -$150
           
66) Disadvantages of using current liabilities as opposed to long-term debt include:
A.   higher cash flow exposure B.   greater risk of illiquidity, and uncertainty of interest costs
C.   decreased risk of liquidity D.   certainty of interest costs E.   uncertainty of future liabilities
67) Petrified Forest Skin Care, Inc. pays an annual perpetual dividend of $1.70 per share. If the stock is currently selling for $21.25 per share, what is the expected rate of return on this stock?
A.   12.5% B.   36.13%
C.   8.0% D.   13.6%
68) Which of the following is most consistent with the hedging principle in working capital management?
A.   Fixed assets should be financed with short-term notes payable. B.   Inventory should be financed with preferred stock. C.   Accounts receivable should be financed with short-term lines of credit.
D.   Borrow on a floating rate basis to finance investments in permanent assets.
           
69) An increase in future value can be caused by an increase in the __________.
A.   original amount invested B.   annual interest rate and number of compounding periods
C.   rate of return D.   dividends paid E.   starting value
70) If the quote for a forward exchange contract is greater than the computed price, the forward contract is:
A.   at equilibrium.
B.   undervalued. C.   a good buy. D.   overvalued.
71) Your company is considering an investment in a project which would require an initial outlay of $300,000 and produce expected cash flows in Years 1 through 5 of $87,385 per year. You have determined that the current after-tax cost of the firm’s capital (required rate of return) for each source of financing is as follows:
Cost of debt     8%
Cost of preferred stock           12%
Cost of common stock            16%
Long-term debt currently makes up 20% of the capital structure, preferred stock 10%, and common stock 70%. What is the net present value of this project?
A.   $1,568
B.   $871 C.   $1,241
D.   $463
72) Suppose you determine that the NPV of a project is $1,525,855. What does that mean?
A.   The project’s IRR would have to be less that the firm’s discount rate. B.   The project would add value to the firm. C.   Under all conditions, the project’s payback would be less than the profitability index.
D.   In all cases, investing in this project would be better than investing in a project that has an NPV of $850,000.
           
73) The common stockholders are most concerned with:
A.   the spread between the return generated on new investments and the investor’s required rate of return.
B.   the size of the firm’s beginning earnings per share. C.   the risk of the investment. D.   the percentage of profits retained.
74) PepsiCo calculates unlevered betas for each peer group in order to:
A.   eliminate different financial risks.
B.   eliminate competitive factors. C.   eliminate judgment factors. D.   eliminate different business risks.
75) Which of the following best represents operating income?
A.   Income from discontinued operations
B.   Earnings before interest and taxes C.   Income from capital gains D.   Income after financing activities
76) In comparison to the buying of final consumers, the purchasing of organizational buyers:
A.   is even less predictable. B.   leans basically toward economy, quality, and dependability.
C.   is always emotional. D.   is strictly economic and not at all emotional. E.   is always based on competitive bids from multiple suppliers.
           
77) The basic objective of the U.S. market-directed economic system is to:
A.   achieve an annual growth rate of at least 10 percent. B.   provide each person with an equal share of the economic output.
C.   make the most efficient use of the country's resources. D.   minimize inflation. E.   satisfy consumer needs as they--the consumers--see them.
78) Comparing GDP for foreign countries can help a marketing manager evaluate potential markets if the manager remembers that:
A.   GDP measures show people's tendency to buy particular products. B.   income tends to be evenly distributed among consumers in most countries. C.   GDP estimates may not be very accurate for very different cultures and economies.
D.   Other countries most likely don’t use the US Dollar as their primary currency.
E.   GDP measures show the degree of competition in a market.
79) A firm's "marketing mix" decision areas would NOT include:
A.   Promotion.
B.   People. C.   Price. D.   Place. E.   Product.
80) __________ is a marketing management aid which refers to how customers think about proposed and/or present brands in a market.
A.   Brand familiarity B.   Positioning
C.   Market scanning D.   Customer relationship management (CRM)
E.   Market segmentation
81) The "four Ps" of a marketing mix are:
A.   Production, Personnel, Price, and Physical Distribution
B.   Promotion, Production, Price, and People C.   Potential customers, Product, Price, and Personal Selling
D.   Product, Price, Promotion, and Profit E.   Product, Place, Promotion, and Price
82) When evaluating macro-marketing:
A.   the evaluation is necessarily subjective. B.   the best approach is to consider the profit generated by individual firms within the overall system.
C.   one must determine how efficiently the society's resources are used. D.   one must consider the society’s role in the marketing system. E.   one must consider each individual firm's role in the marketing system.
83) A cluster analysis of the "toothpaste market" would probably show that:
A.   the broad product-market can be served effectively with one marketing mix.
B.   most consu
          56) Various organizations that promote fair and responsible use of information systems often develop __________. A. a code of ethics B. responsibility charters C. a strategic plan D. a mission statement E. a goals outline        

BUS/475 Guide 4


1) The cost principle requires that when assets are acquired, they be recorded at __________.
A.   list price B.   selling price C.   exchange price paid D.   appraisal value
2) "Generally accepted" in the phrase generally accepted accounting principles means that the principles __________.
A.   have been approved for use by the managements of business firms
B.   have been approved by the Internal Revenue Service C.   have substantial authoritative support D.   are proven theories of accounting
3) The standards and rules that are recognized as a general guide for financial reporting are called __________.
A.   standards of financial reporting B.   operating guidelines C.   generally accepted accounting principles D.   generally accepted accounting standards
4) Sam's Used Cars uses the specific identification method of costing inventory. During March, Sam purchased three cars for $6,000, $7,500, and $9,750, respectively. During March, two cars are sold for $9,000 each. Sam determines that at March 31, the $9,750 car is still on hand. What is Sam’s gross profit for March?
A.   $8,250
B.   $750 C.   $4,500
D.   $5,250
           
5) Hess, Inc. sells a single product with a contribution margin of $12 per unit and fixed costs of $74,400 and sales for the current year of $100,000. How much is Hess’s break even point?
A.   2,133 units
B.   6,200 units
C.   $25,600 D.   4,600 units
           
6) As Plant Controller, you are trying to determine which costs over which you have the most control on a day to day basis. Your goal is to achieve better profitability. The Plant Operations Manager suggests that overhead is the easiest area to directly reduce costs. Which of the following items would be classified as manufacturing overhead?
A.   The western division’s vice president’s salary
B.   Cost of landscaping the corporate office C.   General corporate liability insurance D.   Factory janitor
7) What is the preparation of reports for each level of responsibility in the company’s organization chart called?
A.   Master budgeting analysis
B.   Exception reporting C.   Responsibility reporting
D.   Static reporting
8) Disney’s variable costs are 30% of sales. The company is contemplating an advertising campaign that will cost $22,000. If sales are expected to increase $40,000, by how much will the company's net income increase?
A.   $6,000 B.   $12,000
C.   $28,000
D.   $18,000
           
9) The cost of an asset and its fair market value are __________.
A.   never the same B.   irrelevant when the asset is used by the business in its operations
C.   the same on the date of acquisition D.   the same when the asset is sold
10) Which one of the following is a product cost?
A.   Indirect labor B.   Sales person’s salaries
C.   Advertising costs D.   Office salaries
11) What exists when budgeted costs exceed actual results?
A.   A budgeting error B.   An unfavorable difference
C.   An excess profit D.   A favorable difference
12) The income statement and balance sheet columns of Pine Company's worksheet reflects the following totals:
                        Income Statement                  Balance Sheet
            Dr.       Cr.                   Dr.       Cr.
Totals              $58,000           $48,000                       $34,000           $44,000
           

Closing entries are necessary for __________.
A.   permanent accounts only B.   both permanent and temporary accounts
C.   permanent or real accounts only D.   temporary accounts only
13) Managerial accounting __________.
A.   is concerned with costing products B.   pertains to the entity as a whole and is highly aggregated
C.   places emphasis on special-purpose information D.   is governed by generally accepted accounting principles
           
14) H55 Company sells two products, beer and wine. Beer has a 10 percent profit margin and wine has a 12 percent profit margin. Beer has a 27 percent contribution margin and wine has a 25 percent contribution margin. If other factors are equal, which product should H55 push to customers?
A.   Beer B.   Selling either results in the same additional income for the company
C.   It should sell an equal quantity of both D.   Wine
15) Lekeisha's income exceeds her expenditures. Lekeisha is a __________.
A.   saver who demands money from the financial system B.   borrower who demands money from the financial system
C.   borrower who supplies money to the financial system D.   saver who supplies money to the financial system
16) Maurice receives $100 as a birthday gift. In deciding how to spend the money, he narrows his options down to four choices: Option A, Option B, Option C, and Option D. Each option costs $100. Finally he decides on Option B. The opportunity cost of this decision is __________.
A.   the value to Maurice of the option he would have chosen had Option B not been available
B.   $100 C.   $300 D.   the value to Maurice of Options A, C and D combined
17) A production possibilities frontier will be a straight line if __________.
A.   the economy is producing efficiently B.   the economy is engaged in trade with at least one other economy C.   increasing the production of one good by x units entails no opportunity cost in terms of the other good
D.   increasing the production of one good by x units entails a constant opportunity cost in terms of the other good
           
18) In economics, the cost of something is __________.
A.   what you give up to get it B.   often impossible to quantify, even in principle C.   the dollar amount of obtaining it D.   always measured in units of time given up to get it
           
19) A tax on an imported good is called a __________.
A.   supply tax
B.   trade tax C.   quota D.   tariff
20) Which of the following statements about GDP is correct?
A.   GDP is to a nation’s economy as household income is to a household. B.   GDP increases if the total population increases. C.   GDP measures two things at once: the total income of everyone in the economy and the unemployment rate.
D.   Money continuously flows from households to government and then back to households, and GDP measures this flow of money.
           
21) In computing GDP, market prices are used to value final goods and services because __________.
A.   if market prices are out of line with how people value goods, the government sets price ceilings and price floors
B.   Market prices are not used in computing GDP C.   market prices reflect the values of goods and services D.   market prices do not change much over time, so it is easy to make comparisons between years

22) Which of the following statements about GDP is correct?
A.   Nominal GDP values production at market prices, whereas real GDP values production at the cost of the resources used in the production process.
B.   Nominal GDP consistently underestimates the value of production, whereas real GDP consistently overestimates the value of production.
C.   Nominal GDP values production at current prices, whereas real GDP values production at constant prices.
D.   Nominal GDP values production at constant prices, whereas real GDP values production at current prices.
           
23) Which of the following is not correct?
A.   The U.S. debt per-person is large compared with average lifetime income.
B.   In 2005, the U.S. government had a deficit. C.   A potential cost of deficits is that they reduce national saving, thereby reducing growth of the capital stock and output growth.
D.   Deficits give people the opportunity to consume at the expense of their children, but they do not require them to do so.
           
24) The part of the balance of payments account that lists all long-term flows of payments is called the:
A.   balance of trade. B.   financial and capital account.
C.   government financial account.
D.   current account.
25) Edward Prescott and Finn Kydland won the Nobel Prize in Economics in 2004. One of their contributions was to argue that if a central bank could convince people to expect zero inflation, then the Fed would be tempted to raise output by increasing inflation. This possibility is known as __________.
A.   the sacrifice ratio dilemma B.   the monetary policy reaction lag
C.   the time inconsistency of policy
D.   inflation targeting
26) In general, the longest lag for __________.
A.   fiscal policy is the time it takes to change policy, while for monetary policy the longest lag is the time it takes for policy to affect aggregate demand
B.   both fiscal and monetary policy is the time it takes for policy to affect aggregate demand
C.   monetary policy is the time it takes to change policy, while for fiscal policy the longest lag is the time it takes for policy to affect aggregate demand
D.   both fiscal and monetary policy is the time it takes to change policy
27) Consider two items that might be included in GDP: (1) The estimated rental value of owner-occupied housing; and (2) purchases of newly-constructed homes. How are these two items accounted for when GDP is calculated?
A.   Only item (2) is included in GDP and it is included in the investment component.
B.   Item (1) is included in the consumption component, while item (2) is included in the investment component.
C.   Item (1) is included in the investment component, while item (2) is included in the consumption component.
D.   Both item (1) and item (2) are included in the consumption component of GDP.

28) Managers will utilize __________ skills with increasing frequency as they rise within an organization.
A.   Professional B.   Interpersonal and communication
C.   Technical D.   Professional E.   Conceptual and decision
29) Which of these represent skills that managers need?
A.   Interpersonal, quantitative, and professional B.   Technical, interpersonal & communication and conceptual & decision making
C.   Professional, technical and interpersonal & communication D.   Conceptual & decision making, professional and technical E.   Interpersonal & communication, conceptual & decision making and professional
           
30) Building a dynamic organization is another way of describing which function of management?
A.   Staffing B.   Organizing
C.   Leading D.   Controlling
E.   Planning
31) Your roommate is interested in starting a business and everybody has been giving him different information about being an entrepreneur. Since you have been studying about entrepreneurship and new ventures, which of these would you tell him is true?
A.   Anyone can start a business B.   All entrepreneurs need venture capital in order to get started C.   Successful entrepreneurs take very careful, calculated risks D.   Entrepreneurs are their own bosses and completely independent
E.   Money should not be considered a start-up ingredient
32) The term used to refer to all kinds of differences including religious affiliation, age, disability status, economic class and lifestyle in addition to gender, race, ethnicity and nationality is:
A.   Diversity B.   Managerial ethics
C.   Recruiting D.   Employment E.   Selection
33) A manager's ability to stimulate people to be high performers is referred to as:
A.   Planning B.   Supervising
C.   Controlling
D.   Organizing E.   Leading
34) A series of quality standards developed by a committee working under the International Organization for Standardization to improve total quality in all businesses for the benefit of both producers and consumers is:
A.   Total quality management B.   Customer-based integration C.   Computer-integrated manufacturing (CIM)
D.   Just-in-time control (JIT)
E.   ISO 9000
35) Japanese manufacturers' kaizen (continuous improvement) programs enable them to maintain:
A.   A strategic alliance B.   A homogeneous workforce C.   Positive working relationships with all employees
D.   A Learning advantage over their competition E.   Larger, faster facilities
36) Listening to employee suggestions, gaining support for organizational objectives and fostering an atmosphere of teamwork are all considered:
A.   Technical skills B.   Conceptual C.   Professional skills D.   Interpersonal/communication skills
E.   Diagnostic skills
37) The basic components of an effective sexual harassment policy include the following EXCEPT:
A.   To develop an organization wide policy on sexual harassment B.   To establish a means for ongoing training C.   To act immediately when employees complain of sexual harassment
D.   To establish a performance appraisal system E.   To establish a formal complaint procedure
38) Teams that operate separately from the regular work structure and exist temporarily are known as:
A.   Management teams B.   Transnational teams
C.   Self-managed teams
D.   Parallel teams E.   Self-designing teams
           
39) The Aquatic Center, Inc. periodically reviews the goals of the company. During the process, The Aquatic Center managers analyze their current strategies as compared to their competitors, determine goals that they will pursue and decide upon specific actions for each area of the company to take in pursuit of these goals. The Aquatic Center managers have been engaged in the management function of:
A.   Goal Coordination
B.   Controlling C.   Organizing D.   Staffing E.   Planning
40) As related to managing of human resources, diversity refers to:
A.   Differences in demographics (such as age, race, gender, disability status, lifestyle, veteran status, educational level, etc.)
B.   Differences in pay methods (such as hourly, salaried, overtime, hazard-pay, commissioned, etc.)
C.   Differences in employee benefit plans (such as pensions, insurance, vacations, memberships, etc.)
D.   Differences in retention strategies (such as training, hiring, incentives, etc) E.   Differences in recruiting methods (such as newspapers, schools, flyers, magazines, agencies, etc.)
           
41) __________ is the process of working with people and resources to accomplish organizational goals.
A.   Controlling B.   Decision making
C.   Planning D.   Supervising E.   Management
42) Twelve randomly-chosen students were asked how many times they had missed class during a certain semester, with this result: 2, 1, 5, 1, 1, 3, 4, 3, 1, 1, 5, 18.
For this sample, the median is _____.
A.   3 B.   3.5
C.   2.5
D.   2
43) Use the following table to answer question:
 P(S | W) is approximately _____.
A.   .40
B.   .30
C.   .12
D.   .58
           
44) Use the following table to answer question:
 P(M  A) is approximately _____.
A.   .50 B.   .625
C.   .125
D.   .25
45) Dullco Manufacturing claims that its alkaline batteries last forty hours on average in a certain type of portable CD player. Tests on a random sample of 18 batteries showed a mean battery life of 37.8 hours with a standard deviation of 5.4 hours.
In determining the p-value for reporting the study's findings, which of the following is true?
A.   The p-value is equal to .05. B.   The p-value is greater than .05. C.   The p-value cannot be determined without specifying  . D.   The p-value is less than .05.
46) William used a sample of 68 U.S. cities to estimate the relationship between Crime (annual property crimes per 100,000 persons) and Income (median income per capita). His estimated regression equation was Crime = 428 + .050 Income.
Which outcomes would be likely in a bivariate regression on 45 randomly chosen U.S. cities in 2005 with
Y = number of robberies in each city (thousands of robberies) and
X = size of police force in each city (thousands of police)?
A.   High R2 (due to city size). B.   Positive slope (due to city size).
C.   No correlation. D.   Autocorrelation.
47) Twelve randomly-chosen students were asked how many times they had missed class during a certain semester, with this result: 2, 1, 5, 1, 1, 3, 4, 3, 1, 1, 5, 18.
For this sample, which measure of central tendency is least representative of the “typical” student?
A.   Midrange
B.   Mean C.   Mode D.   Median
           
48) Likely reasons for inaccurate control limits would include which of the following?
A.   Process variation was not zero, as expected. B.   The engineering parameter for variance is unknown.
C.   There was insufficient preliminary sampling. D.   The engineers were underpaid for their work.
49) You are faced with a linear programming objective function of:
Max P = $20X + $30Y
and constraints of:
3X + 4Y = 24 (Constraint A)
5X – Y = 18 (Constraint B)
You discover that the shadow price for Constraint A is 7.5 and the shadow price for Constraint B is 0. Which of these statements is TRUE?
A.   The most you would want to pay for an additional unit of A would be $7.50.
B.   You can change quantities of X and Y at no cost for Constraint B. C.   For every additional unit of the objective function you create, the price of A rises by $7.50.
D.   For every additional unit of the objective function you create, you lose 0 units of B.
           
50) A project has three paths. A–B–C has a length of 25 days. A–D–C has a length of 15 days. Finally, A–E–C has a length of 20 days. Which one of the following statements is TRUE?
A.   The expected duration of this project is 25 + 15 + 20 = 60 days.
B.   A–D–C is the critical path. C.   The expected duration of this project is 25 days. D.   A–B–C has the most slack.
51) Which one of the following statements concerning production and staffing plans is best?
A.   A master production schedule is a projected statement of income, costs, and profits.
B.   Aggregation can be performed along three dimensions: product families, labor, and time.
C.   Production plans are based primarily on information from the master production plan.
D.   A staffing plan is the intermediate link between the business plan and the master production schedule.
           
52) While glancing over the sensitivity report, you note that the stitching labor has a shadow price of $10 and a lower limit of 24 hours with an upper limit of 36 hours. If your original right hand value for stitching labor was 30 hours, you know that:
A.   you would lose $80 if one of your workers missed an entire 8 hour shift. B.   the next worker that offers to work an extra 8 hours should receive at least $80.
C.   you would be willing pay up to $60 for someone to work another 6 hours.
D.   you can send someone home 6 hours early and still pay them the $60 they would have earned while on the clock.

53) The costs of delivering products in the _____ channel are much higher than delivering products in the _____ channel.
A.   physical, digital B.   e-commerce, digital
C.   physical, financial D.   digital, e-commerce
E.   digital, physical
54) When customers access a Web site and make purchases, they generate __________.
A.   Tracking cookies B.   Web data C.   Information D.   Clickstream data
E.   Hyperlink data
55) _____ is the integration of economic, social, cultural, and ecological facets of life, enabled by information.
A.   regionalization B.   globalization C.   nationalization D.   business environment
           
56) Various organizations that promote fair and responsible use of information systems often develop __________.
A.   a code of ethics B.   responsibility charters
C.   a strategic plan D.   a mission statement E.   a goals outline
57) What is _____ is not necessarily _____.
A.   Illegal, unethical B.   Unethical, legal C.   Ethical, illegal D.   Unethical, illegal
E.   Ethical, legal
58) _____ provides users with a view of what is happening, where _____ addresses why it is happening.
A.   Multidimensional data analysis, structured query language
B.   Multidimensional data analysis, neural networks C.   Data mining, multidimensional data analysis D.   Data mining, expert system E.   Multidimensional data analysis, data mining
59) Computer support is greatest for which of the following problems?
A.   Semistructured and strategic planning B.   Semistructured and management control
C.   Unstructured and operational control D.   Structured and operational control E.   Structured and management control
60) The management cockpit best exemplifies which type of system?
A.   Decision support system B.   Functional area information system
C.   Expert system D.   Digital dashboard E.   Group decision support system
61) _____ is the efficient and effective execution of specific tasks.
A.   Operational control
B.   Expertise C.   Management control
D.   Strategic planning E.   Wisdom
62) Geocoding is __________.
A.   accessing geographical information B.   integrating maps with spatially oriented databases and other databases
C.   integrating organizational transactions with spatially oriented databases D.   programming spatially oriented databases E.   encrypting spatial information
63) At 8% compounded annually, how long will it take $750 to double?
A.   48 months
B.   6.5 years C.   9 years D.   12 years
64) Which of the following represents an attempt to measure the earnings of the firm’s operations over a given time period?
A.   Cash flow statement
B.   Balance sheet C.   Income statement D.   Quarterly statement
           
65) A machine costs $1,000, has a three-year life, and has an estimated salvage value of $100. It will generate after-tax annual cash flows (ACF) of $600 a year, starting next year. If your required rate of return for the project is 10%, what is the NPV of this investment? (Round your answerwer to the nearest $10.)
A.   $570 B.   $490 C.   $900 D.   -$150
           
66) Disadvantages of using current liabilities as opposed to long-term debt include:
A.   higher cash flow exposure B.   greater risk of illiquidity, and uncertainty of interest costs
C.   decreased risk of liquidity D.   certainty of interest costs E.   uncertainty of future liabilities
67) Petrified Forest Skin Care, Inc. pays an annual perpetual dividend of $1.70 per share. If the stock is currently selling for $21.25 per share, what is the expected rate of return on this stock?
A.   12.5% B.   36.13%
C.   8.0% D.   13.6%
68) Which of the following is most consistent with the hedging principle in working capital management?
A.   Fixed assets should be financed with short-term notes payable. B.   Inventory should be financed with preferred stock. C.   Accounts receivable should be financed with short-term lines of credit.
D.   Borrow on a floating rate basis to finance investments in permanent assets.
           
69) An increase in future value can be caused by an increase in the __________.
A.   original amount invested B.   annual interest rate and number of compounding periods
C.   rate of return D.   dividends paid E.   starting value
70) If the quote for a forward exchange contract is greater than the computed price, the forward contract is:
A.   at equilibrium.
B.   undervalued. C.   a good buy. D.   overvalued.
71) Your company is considering an investment in a project which would require an initial outlay of $300,000 and produce expected cash flows in Years 1 through 5 of $87,385 per year. You have determined that the current after-tax cost of the firm’s capital (required rate of return) for each source of financing is as follows:
Cost of debt     8%
Cost of preferred stock           12%
Cost of common stock            16%
Long-term debt currently makes up 20% of the capital structure, preferred stock 10%, and common stock 70%. What is the net present value of this project?
A.   $1,568
B.   $871 C.   $1,241
D.   $463
72) Suppose you determine that the NPV of a project is $1,525,855. What does that mean?
A.   The project’s IRR would have to be less that the firm’s discount rate. B.   The project would add value to the firm. C.   Under all conditions, the project’s payback would be less than the profitability index.
D.   In all cases, investing in this project would be better than investing in a project that has an NPV of $850,000.
           
73) The common stockholders are most concerned with:
A.   the spread between the return generated on new investments and the investor’s required rate of return.
B.   the size of the firm’s beginning earnings per share. C.   the risk of the investment. D.   the percentage of profits retained.
74) PepsiCo calculates unlevered betas for each peer group in order to:
A.   eliminate different financial risks.
B.   eliminate competitive factors. C.   eliminate judgment factors. D.   eliminate different business risks.
75) Which of the following best represents operating income?
A.   Income from discontinued operations
B.   Earnings before interest and taxes C.   Income from capital gains D.   Income after financing activities
76) In comparison to the buying of final consumers, the purchasing of organizational buyers:
A.   is even less predictable. B.   leans basically toward economy, quality, and dependability.
C.   is always emotional. D.   is strictly economic and not at all emotional. E.   is always based on competitive bids from multiple suppliers.
           
77) The basic objective of the U.S. market-directed economic system is to:
A.   achieve an annual growth rate of at least 10 percent. B.   provide each person with an equal share of the economic output.
C.   make the most efficient use of the country's resources. D.   minimize inflation. E.   satisfy consumer needs as they--the consumers--see them.
78) Comparing GDP for foreign countries can help a marketing manager evaluate potential markets if the manager remembers that:
A.   GDP measures show people's tendency to buy particular products. B.   income tends to be evenly distributed among consumers in most countries. C.   GDP estimates may not be very accurate for very different cultures and economies.
D.   Other countries most likely don’t use the US Dollar as their primary currency.
E.   GDP measures show the degree of competition in a market.
79) A firm's "marketing mix" decision areas would NOT include:
A.   Promotion.
B.   People. C.   Price. D.   Place. E.   Product.
80) __________ is a marketing management aid which refers to how customers think about proposed and/or present brands in a market.
A.   Brand familiarity B.   Positioning
C.   Market scanning D.   Customer relationship management (CRM)
E.   Market segmentation
81) The "four Ps" of a marketing mix are:
A.   Production, Personnel, Price, and Physical Distribution
B.   Promotion, Production, Price, and People C.   Potential customers, Product, Price, and Personal Selling
D.   Product, Price, Promotion, and Profit E.   Product, Place, Promotion, and Price
82) When evaluating macro-marketing:
A.   the evaluation is necessarily subjective. B.   the best approach is to consider the profit generated by individual firms within the overall system.
C.   one must determine how efficiently the society's resources are used. D.   one must consider the society’s role in the marketing system. E.   one must consider each individual firm's role in the marketing system.
83) A cluster analysis of the "toothpaste market" would probably show that:
A.   the broad product-market can be served effectively with one marketing mix.
B.   most consu
          57) What is _____ is not necessarily _____. A. Illegal, unethical B. Unethical, legal C. Ethical, illegal D. Unethical, illegal E. Ethical, legal        

BUS/475 Guide 4


1) The cost principle requires that when assets are acquired, they be recorded at __________.
A.   list price B.   selling price C.   exchange price paid D.   appraisal value
2) "Generally accepted" in the phrase generally accepted accounting principles means that the principles __________.
A.   have been approved for use by the managements of business firms
B.   have been approved by the Internal Revenue Service C.   have substantial authoritative support D.   are proven theories of accounting
3) The standards and rules that are recognized as a general guide for financial reporting are called __________.
A.   standards of financial reporting B.   operating guidelines C.   generally accepted accounting principles D.   generally accepted accounting standards
4) Sam's Used Cars uses the specific identification method of costing inventory. During March, Sam purchased three cars for $6,000, $7,500, and $9,750, respectively. During March, two cars are sold for $9,000 each. Sam determines that at March 31, the $9,750 car is still on hand. What is Sam’s gross profit for March?
A.   $8,250
B.   $750 C.   $4,500
D.   $5,250
           
5) Hess, Inc. sells a single product with a contribution margin of $12 per unit and fixed costs of $74,400 and sales for the current year of $100,000. How much is Hess’s break even point?
A.   2,133 units
B.   6,200 units
C.   $25,600 D.   4,600 units
           
6) As Plant Controller, you are trying to determine which costs over which you have the most control on a day to day basis. Your goal is to achieve better profitability. The Plant Operations Manager suggests that overhead is the easiest area to directly reduce costs. Which of the following items would be classified as manufacturing overhead?
A.   The western division’s vice president’s salary
B.   Cost of landscaping the corporate office C.   General corporate liability insurance D.   Factory janitor
7) What is the preparation of reports for each level of responsibility in the company’s organization chart called?
A.   Master budgeting analysis
B.   Exception reporting C.   Responsibility reporting
D.   Static reporting
8) Disney’s variable costs are 30% of sales. The company is contemplating an advertising campaign that will cost $22,000. If sales are expected to increase $40,000, by how much will the company's net income increase?
A.   $6,000 B.   $12,000
C.   $28,000
D.   $18,000
           
9) The cost of an asset and its fair market value are __________.
A.   never the same B.   irrelevant when the asset is used by the business in its operations
C.   the same on the date of acquisition D.   the same when the asset is sold
10) Which one of the following is a product cost?
A.   Indirect labor B.   Sales person’s salaries
C.   Advertising costs D.   Office salaries
11) What exists when budgeted costs exceed actual results?
A.   A budgeting error B.   An unfavorable difference
C.   An excess profit D.   A favorable difference
12) The income statement and balance sheet columns of Pine Company's worksheet reflects the following totals:
                        Income Statement                  Balance Sheet
            Dr.       Cr.                   Dr.       Cr.
Totals              $58,000           $48,000                       $34,000           $44,000
           

Closing entries are necessary for __________.
A.   permanent accounts only B.   both permanent and temporary accounts
C.   permanent or real accounts only D.   temporary accounts only
13) Managerial accounting __________.
A.   is concerned with costing products B.   pertains to the entity as a whole and is highly aggregated
C.   places emphasis on special-purpose information D.   is governed by generally accepted accounting principles
           
14) H55 Company sells two products, beer and wine. Beer has a 10 percent profit margin and wine has a 12 percent profit margin. Beer has a 27 percent contribution margin and wine has a 25 percent contribution margin. If other factors are equal, which product should H55 push to customers?
A.   Beer B.   Selling either results in the same additional income for the company
C.   It should sell an equal quantity of both D.   Wine
15) Lekeisha's income exceeds her expenditures. Lekeisha is a __________.
A.   saver who demands money from the financial system B.   borrower who demands money from the financial system
C.   borrower who supplies money to the financial system D.   saver who supplies money to the financial system
16) Maurice receives $100 as a birthday gift. In deciding how to spend the money, he narrows his options down to four choices: Option A, Option B, Option C, and Option D. Each option costs $100. Finally he decides on Option B. The opportunity cost of this decision is __________.
A.   the value to Maurice of the option he would have chosen had Option B not been available
B.   $100 C.   $300 D.   the value to Maurice of Options A, C and D combined
17) A production possibilities frontier will be a straight line if __________.
A.   the economy is producing efficiently B.   the economy is engaged in trade with at least one other economy C.   increasing the production of one good by x units entails no opportunity cost in terms of the other good
D.   increasing the production of one good by x units entails a constant opportunity cost in terms of the other good
           
18) In economics, the cost of something is __________.
A.   what you give up to get it B.   often impossible to quantify, even in principle C.   the dollar amount of obtaining it D.   always measured in units of time given up to get it
           
19) A tax on an imported good is called a __________.
A.   supply tax
B.   trade tax C.   quota D.   tariff
20) Which of the following statements about GDP is correct?
A.   GDP is to a nation’s economy as household income is to a household. B.   GDP increases if the total population increases. C.   GDP measures two things at once: the total income of everyone in the economy and the unemployment rate.
D.   Money continuously flows from households to government and then back to households, and GDP measures this flow of money.
           
21) In computing GDP, market prices are used to value final goods and services because __________.
A.   if market prices are out of line with how people value goods, the government sets price ceilings and price floors
B.   Market prices are not used in computing GDP C.   market prices reflect the values of goods and services D.   market prices do not change much over time, so it is easy to make comparisons between years

22) Which of the following statements about GDP is correct?
A.   Nominal GDP values production at market prices, whereas real GDP values production at the cost of the resources used in the production process.
B.   Nominal GDP consistently underestimates the value of production, whereas real GDP consistently overestimates the value of production.
C.   Nominal GDP values production at current prices, whereas real GDP values production at constant prices.
D.   Nominal GDP values production at constant prices, whereas real GDP values production at current prices.
           
23) Which of the following is not correct?
A.   The U.S. debt per-person is large compared with average lifetime income.
B.   In 2005, the U.S. government had a deficit. C.   A potential cost of deficits is that they reduce national saving, thereby reducing growth of the capital stock and output growth.
D.   Deficits give people the opportunity to consume at the expense of their children, but they do not require them to do so.
           
24) The part of the balance of payments account that lists all long-term flows of payments is called the:
A.   balance of trade. B.   financial and capital account.
C.   government financial account.
D.   current account.
25) Edward Prescott and Finn Kydland won the Nobel Prize in Economics in 2004. One of their contributions was to argue that if a central bank could convince people to expect zero inflation, then the Fed would be tempted to raise output by increasing inflation. This possibility is known as __________.
A.   the sacrifice ratio dilemma B.   the monetary policy reaction lag
C.   the time inconsistency of policy
D.   inflation targeting
26) In general, the longest lag for __________.
A.   fiscal policy is the time it takes to change policy, while for monetary policy the longest lag is the time it takes for policy to affect aggregate demand
B.   both fiscal and monetary policy is the time it takes for policy to affect aggregate demand
C.   monetary policy is the time it takes to change policy, while for fiscal policy the longest lag is the time it takes for policy to affect aggregate demand
D.   both fiscal and monetary policy is the time it takes to change policy
27) Consider two items that might be included in GDP: (1) The estimated rental value of owner-occupied housing; and (2) purchases of newly-constructed homes. How are these two items accounted for when GDP is calculated?
A.   Only item (2) is included in GDP and it is included in the investment component.
B.   Item (1) is included in the consumption component, while item (2) is included in the investment component.
C.   Item (1) is included in the investment component, while item (2) is included in the consumption component.
D.   Both item (1) and item (2) are included in the consumption component of GDP.

28) Managers will utilize __________ skills with increasing frequency as they rise within an organization.
A.   Professional B.   Interpersonal and communication
C.   Technical D.   Professional E.   Conceptual and decision
29) Which of these represent skills that managers need?
A.   Interpersonal, quantitative, and professional B.   Technical, interpersonal & communication and conceptual & decision making
C.   Professional, technical and interpersonal & communication D.   Conceptual & decision making, professional and technical E.   Interpersonal & communication, conceptual & decision making and professional
           
30) Building a dynamic organization is another way of describing which function of management?
A.   Staffing B.   Organizing
C.   Leading D.   Controlling
E.   Planning
31) Your roommate is interested in starting a business and everybody has been giving him different information about being an entrepreneur. Since you have been studying about entrepreneurship and new ventures, which of these would you tell him is true?
A.   Anyone can start a business B.   All entrepreneurs need venture capital in order to get started C.   Successful entrepreneurs take very careful, calculated risks D.   Entrepreneurs are their own bosses and completely independent
E.   Money should not be considered a start-up ingredient
32) The term used to refer to all kinds of differences including religious affiliation, age, disability status, economic class and lifestyle in addition to gender, race, ethnicity and nationality is:
A.   Diversity B.   Managerial ethics
C.   Recruiting D.   Employment E.   Selection
33) A manager's ability to stimulate people to be high performers is referred to as:
A.   Planning B.   Supervising
C.   Controlling
D.   Organizing E.   Leading
34) A series of quality standards developed by a committee working under the International Organization for Standardization to improve total quality in all businesses for the benefit of both producers and consumers is:
A.   Total quality management B.   Customer-based integration C.   Computer-integrated manufacturing (CIM)
D.   Just-in-time control (JIT)
E.   ISO 9000
35) Japanese manufacturers' kaizen (continuous improvement) programs enable them to maintain:
A.   A strategic alliance B.   A homogeneous workforce C.   Positive working relationships with all employees
D.   A Learning advantage over their competition E.   Larger, faster facilities
36) Listening to employee suggestions, gaining support for organizational objectives and fostering an atmosphere of teamwork are all considered:
A.   Technical skills B.   Conceptual C.   Professional skills D.   Interpersonal/communication skills
E.   Diagnostic skills
37) The basic components of an effective sexual harassment policy include the following EXCEPT:
A.   To develop an organization wide policy on sexual harassment B.   To establish a means for ongoing training C.   To act immediately when employees complain of sexual harassment
D.   To establish a performance appraisal system E.   To establish a formal complaint procedure
38) Teams that operate separately from the regular work structure and exist temporarily are known as:
A.   Management teams B.   Transnational teams
C.   Self-managed teams
D.   Parallel teams E.   Self-designing teams
           
39) The Aquatic Center, Inc. periodically reviews the goals of the company. During the process, The Aquatic Center managers analyze their current strategies as compared to their competitors, determine goals that they will pursue and decide upon specific actions for each area of the company to take in pursuit of these goals. The Aquatic Center managers have been engaged in the management function of:
A.   Goal Coordination
B.   Controlling C.   Organizing D.   Staffing E.   Planning
40) As related to managing of human resources, diversity refers to:
A.   Differences in demographics (such as age, race, gender, disability status, lifestyle, veteran status, educational level, etc.)
B.   Differences in pay methods (such as hourly, salaried, overtime, hazard-pay, commissioned, etc.)
C.   Differences in employee benefit plans (such as pensions, insurance, vacations, memberships, etc.)
D.   Differences in retention strategies (such as training, hiring, incentives, etc) E.   Differences in recruiting methods (such as newspapers, schools, flyers, magazines, agencies, etc.)
           
41) __________ is the process of working with people and resources to accomplish organizational goals.
A.   Controlling B.   Decision making
C.   Planning D.   Supervising E.   Management
42) Twelve randomly-chosen students were asked how many times they had missed class during a certain semester, with this result: 2, 1, 5, 1, 1, 3, 4, 3, 1, 1, 5, 18.
For this sample, the median is _____.
A.   3 B.   3.5
C.   2.5
D.   2
43) Use the following table to answer question:
 P(S | W) is approximately _____.
A.   .40
B.   .30
C.   .12
D.   .58
           
44) Use the following table to answer question:
 P(M  A) is approximately _____.
A.   .50 B.   .625
C.   .125
D.   .25
45) Dullco Manufacturing claims that its alkaline batteries last forty hours on average in a certain type of portable CD player. Tests on a random sample of 18 batteries showed a mean battery life of 37.8 hours with a standard deviation of 5.4 hours.
In determining the p-value for reporting the study's findings, which of the following is true?
A.   The p-value is equal to .05. B.   The p-value is greater than .05. C.   The p-value cannot be determined without specifying  . D.   The p-value is less than .05.
46) William used a sample of 68 U.S. cities to estimate the relationship between Crime (annual property crimes per 100,000 persons) and Income (median income per capita). His estimated regression equation was Crime = 428 + .050 Income.
Which outcomes would be likely in a bivariate regression on 45 randomly chosen U.S. cities in 2005 with
Y = number of robberies in each city (thousands of robberies) and
X = size of police force in each city (thousands of police)?
A.   High R2 (due to city size). B.   Positive slope (due to city size).
C.   No correlation. D.   Autocorrelation.
47) Twelve randomly-chosen students were asked how many times they had missed class during a certain semester, with this result: 2, 1, 5, 1, 1, 3, 4, 3, 1, 1, 5, 18.
For this sample, which measure of central tendency is least representative of the “typical” student?
A.   Midrange
B.   Mean C.   Mode D.   Median
           
48) Likely reasons for inaccurate control limits would include which of the following?
A.   Process variation was not zero, as expected. B.   The engineering parameter for variance is unknown.
C.   There was insufficient preliminary sampling. D.   The engineers were underpaid for their work.
49) You are faced with a linear programming objective function of:
Max P = $20X + $30Y
and constraints of:
3X + 4Y = 24 (Constraint A)
5X – Y = 18 (Constraint B)
You discover that the shadow price for Constraint A is 7.5 and the shadow price for Constraint B is 0. Which of these statements is TRUE?
A.   The most you would want to pay for an additional unit of A would be $7.50.
B.   You can change quantities of X and Y at no cost for Constraint B. C.   For every additional unit of the objective function you create, the price of A rises by $7.50.
D.   For every additional unit of the objective function you create, you lose 0 units of B.
           
50) A project has three paths. A–B–C has a length of 25 days. A–D–C has a length of 15 days. Finally, A–E–C has a length of 20 days. Which one of the following statements is TRUE?
A.   The expected duration of this project is 25 + 15 + 20 = 60 days.
B.   A–D–C is the critical path. C.   The expected duration of this project is 25 days. D.   A–B–C has the most slack.
51) Which one of the following statements concerning production and staffing plans is best?
A.   A master production schedule is a projected statement of income, costs, and profits.
B.   Aggregation can be performed along three dimensions: product families, labor, and time.
C.   Production plans are based primarily on information from the master production plan.
D.   A staffing plan is the intermediate link between the business plan and the master production schedule.
           
52) While glancing over the sensitivity report, you note that the stitching labor has a shadow price of $10 and a lower limit of 24 hours with an upper limit of 36 hours. If your original right hand value for stitching labor was 30 hours, you know that:
A.   you would lose $80 if one of your workers missed an entire 8 hour shift. B.   the next worker that offers to work an extra 8 hours should receive at least $80.
C.   you would be willing pay up to $60 for someone to work another 6 hours.
D.   you can send someone home 6 hours early and still pay them the $60 they would have earned while on the clock.

53) The costs of delivering products in the _____ channel are much higher than delivering products in the _____ channel.
A.   physical, digital B.   e-commerce, digital
C.   physical, financial D.   digital, e-commerce
E.   digital, physical
54) When customers access a Web site and make purchases, they generate __________.
A.   Tracking cookies B.   Web data C.   Information D.   Clickstream data
E.   Hyperlink data
55) _____ is the integration of economic, social, cultural, and ecological facets of life, enabled by information.
A.   regionalization B.   globalization C.   nationalization D.   business environment
           
56) Various organizations that promote fair and responsible use of information systems often develop __________.
A.   a code of ethics B.   responsibility charters
C.   a strategic plan D.   a mission statement E.   a goals outline
57) What is _____ is not necessarily _____.
A.   Illegal, unethical B.   Unethical, legal C.   Ethical, illegal D.   Unethical, illegal
E.   Ethical, legal
58) _____ provides users with a view of what is happening, where _____ addresses why it is happening.
A.   Multidimensional data analysis, structured query language
B.   Multidimensional data analysis, neural networks C.   Data mining, multidimensional data analysis D.   Data mining, expert system E.   Multidimensional data analysis, data mining
59) Computer support is greatest for which of the following problems?
A.   Semistructured and strategic planning B.   Semistructured and management control
C.   Unstructured and operational control D.   Structured and operational control E.   Structured and management control
60) The management cockpit best exemplifies which type of system?
A.   Decision support system B.   Functional area information system
C.   Expert system D.   Digital dashboard E.   Group decision support system
61) _____ is the efficient and effective execution of specific tasks.
A.   Operational control
B.   Expertise C.   Management control
D.   Strategic planning E.   Wisdom
62) Geocoding is __________.
A.   accessing geographical information B.   integrating maps with spatially oriented databases and other databases
C.   integrating organizational transactions with spatially oriented databases D.   programming spatially oriented databases E.   encrypting spatial information
63) At 8% compounded annually, how long will it take $750 to double?
A.   48 months
B.   6.5 years C.   9 years D.   12 years
64) Which of the following represents an attempt to measure the earnings of the firm’s operations over a given time period?
A.   Cash flow statement
B.   Balance sheet C.   Income statement D.   Quarterly statement
           
65) A machine costs $1,000, has a three-year life, and has an estimated salvage value of $100. It will generate after-tax annual cash flows (ACF) of $600 a year, starting next year. If your required rate of return for the project is 10%, what is the NPV of this investment? (Round your answerwer to the nearest $10.)
A.   $570 B.   $490 C.   $900 D.   -$150
           
66) Disadvantages of using current liabilities as opposed to long-term debt include:
A.   higher cash flow exposure B.   greater risk of illiquidity, and uncertainty of interest costs
C.   decreased risk of liquidity D.   certainty of interest costs E.   uncertainty of future liabilities
67) Petrified Forest Skin Care, Inc. pays an annual perpetual dividend of $1.70 per share. If the stock is currently selling for $21.25 per share, what is the expected rate of return on this stock?
A.   12.5% B.   36.13%
C.   8.0% D.   13.6%
68) Which of the following is most consistent with the hedging principle in working capital management?
A.   Fixed assets should be financed with short-term notes payable. B.   Inventory should be financed with preferred stock. C.   Accounts receivable should be financed with short-term lines of credit.
D.   Borrow on a floating rate basis to finance investments in permanent assets.
           
69) An increase in future value can be caused by an increase in the __________.
A.   original amount invested B.   annual interest rate and number of compounding periods
C.   rate of return D.   dividends paid E.   starting value
70) If the quote for a forward exchange contract is greater than the computed price, the forward contract is:
A.   at equilibrium.
B.   undervalued. C.   a good buy. D.   overvalued.
71) Your company is considering an investment in a project which would require an initial outlay of $300,000 and produce expected cash flows in Years 1 through 5 of $87,385 per year. You have determined that the current after-tax cost of the firm’s capital (required rate of return) for each source of financing is as follows:
Cost of debt     8%
Cost of preferred stock           12%
Cost of common stock            16%
Long-term debt currently makes up 20% of the capital structure, preferred stock 10%, and common stock 70%. What is the net present value of this project?
A.   $1,568
B.   $871 C.   $1,241
D.   $463
72) Suppose you determine that the NPV of a project is $1,525,855. What does that mean?
A.   The project’s IRR would have to be less that the firm’s discount rate. B.   The project would add value to the firm. C.   Under all conditions, the project’s payback would be less than the profitability index.
D.   In all cases, investing in this project would be better than investing in a project that has an NPV of $850,000.
           
73) The common stockholders are most concerned with:
A.   the spread between the return generated on new investments and the investor’s required rate of return.
B.   the size of the firm’s beginning earnings per share. C.   the risk of the investment. D.   the percentage of profits retained.
74) PepsiCo calculates unlevered betas for each peer group in order to:
A.   eliminate different financial risks.
B.   eliminate competitive factors. C.   eliminate judgment factors. D.   eliminate different business risks.
75) Which of the following best represents operating income?
A.   Income from discontinued operations
B.   Earnings before interest and taxes C.   Income from capital gains D.   Income after financing activities
76) In comparison to the buying of final consumers, the purchasing of organizational buyers:
A.   is even less predictable. B.   leans basically toward economy, quality, and dependability.
C.   is always emotional. D.   is strictly economic and not at all emotional. E.   is always based on competitive bids from multiple suppliers.
           
77) The basic objective of the U.S. market-directed economic system is to:
A.   achieve an annual growth rate of at least 10 percent. B.   provide each person with an equal share of the economic output.
C.   make the most efficient use of the country's resources. D.   minimize inflation. E.   satisfy consumer needs as they--the consumers--see them.
78) Comparing GDP for foreign countries can help a marketing manager evaluate potential markets if the manager remembers that:
A.   GDP measures show people's tendency to buy particular products. B.   income tends to be evenly distributed among consumers in most countries. C.   GDP estimates may not be very accurate for very different cultures and economies.
D.   Other countries most likely don’t use the US Dollar as their primary currency.
E.   GDP measures show the degree of competition in a market.
79) A firm's "marketing mix" decision areas would NOT include:
A.   Promotion.
B.   People. C.   Price. D.   Place. E.   Product.
80) __________ is a marketing management aid which refers to how customers think about proposed and/or present brands in a market.
A.   Brand familiarity B.   Positioning
C.   Market scanning D.   Customer relationship management (CRM)
E.   Market segmentation
81) The "four Ps" of a marketing mix are:
A.   Production, Personnel, Price, and Physical Distribution
B.   Promotion, Production, Price, and People C.   Potential customers, Product, Price, and Personal Selling
D.   Product, Price, Promotion, and Profit E.   Product, Place, Promotion, and Price
82) When evaluating macro-marketing:
A.   the evaluation is necessarily subjective. B.   the best approach is to consider the profit generated by individual firms within the overall system.
C.   one must determine how efficiently the society's resources are used. D.   one must consider the society’s role in the marketing system. E.   one must consider each individual firm's role in the marketing system.
83) A cluster analysis of the "toothpaste market" would probably show that:
A.   the broad product-market can be served effectively with one marketing mix.
B.   most consu
          58) _____ provides users with a view of what is happening, where _____ addresses why it is happening. A. Multidimensional data analysis, structured query language B. Multidimensional data analysis, neural networks C. Data mining, multidimensional data analysis D. Data mining, expert system E. Multidimensional data analysis, data mining        

BUS/475 Guide 4


1) The cost principle requires that when assets are acquired, they be recorded at __________.
A.   list price B.   selling price C.   exchange price paid D.   appraisal value
2) "Generally accepted" in the phrase generally accepted accounting principles means that the principles __________.
A.   have been approved for use by the managements of business firms
B.   have been approved by the Internal Revenue Service C.   have substantial authoritative support D.   are proven theories of accounting
3) The standards and rules that are recognized as a general guide for financial reporting are called __________.
A.   standards of financial reporting B.   operating guidelines C.   generally accepted accounting principles D.   generally accepted accounting standards
4) Sam's Used Cars uses the specific identification method of costing inventory. During March, Sam purchased three cars for $6,000, $7,500, and $9,750, respectively. During March, two cars are sold for $9,000 each. Sam determines that at March 31, the $9,750 car is still on hand. What is Sam’s gross profit for March?
A.   $8,250
B.   $750 C.   $4,500
D.   $5,250
           
5) Hess, Inc. sells a single product with a contribution margin of $12 per unit and fixed costs of $74,400 and sales for the current year of $100,000. How much is Hess’s break even point?
A.   2,133 units
B.   6,200 units
C.   $25,600 D.   4,600 units
           
6) As Plant Controller, you are trying to determine which costs over which you have the most control on a day to day basis. Your goal is to achieve better profitability. The Plant Operations Manager suggests that overhead is the easiest area to directly reduce costs. Which of the following items would be classified as manufacturing overhead?
A.   The western division’s vice president’s salary
B.   Cost of landscaping the corporate office C.   General corporate liability insurance D.   Factory janitor
7) What is the preparation of reports for each level of responsibility in the company’s organization chart called?
A.   Master budgeting analysis
B.   Exception reporting C.   Responsibility reporting
D.   Static reporting
8) Disney’s variable costs are 30% of sales. The company is contemplating an advertising campaign that will cost $22,000. If sales are expected to increase $40,000, by how much will the company's net income increase?
A.   $6,000 B.   $12,000
C.   $28,000
D.   $18,000
           
9) The cost of an asset and its fair market value are __________.
A.   never the same B.   irrelevant when the asset is used by the business in its operations
C.   the same on the date of acquisition D.   the same when the asset is sold
10) Which one of the following is a product cost?
A.   Indirect labor B.   Sales person’s salaries
C.   Advertising costs D.   Office salaries
11) What exists when budgeted costs exceed actual results?
A.   A budgeting error B.   An unfavorable difference
C.   An excess profit D.   A favorable difference
12) The income statement and balance sheet columns of Pine Company's worksheet reflects the following totals:
                        Income Statement                  Balance Sheet
            Dr.       Cr.                   Dr.       Cr.
Totals              $58,000           $48,000                       $34,000           $44,000
           

Closing entries are necessary for __________.
A.   permanent accounts only B.   both permanent and temporary accounts
C.   permanent or real accounts only D.   temporary accounts only
13) Managerial accounting __________.
A.   is concerned with costing products B.   pertains to the entity as a whole and is highly aggregated
C.   places emphasis on special-purpose information D.   is governed by generally accepted accounting principles
           
14) H55 Company sells two products, beer and wine. Beer has a 10 percent profit margin and wine has a 12 percent profit margin. Beer has a 27 percent contribution margin and wine has a 25 percent contribution margin. If other factors are equal, which product should H55 push to customers?
A.   Beer B.   Selling either results in the same additional income for the company
C.   It should sell an equal quantity of both D.   Wine
15) Lekeisha's income exceeds her expenditures. Lekeisha is a __________.
A.   saver who demands money from the financial system B.   borrower who demands money from the financial system
C.   borrower who supplies money to the financial system D.   saver who supplies money to the financial system
16) Maurice receives $100 as a birthday gift. In deciding how to spend the money, he narrows his options down to four choices: Option A, Option B, Option C, and Option D. Each option costs $100. Finally he decides on Option B. The opportunity cost of this decision is __________.
A.   the value to Maurice of the option he would have chosen had Option B not been available
B.   $100 C.   $300 D.   the value to Maurice of Options A, C and D combined
17) A production possibilities frontier will be a straight line if __________.
A.   the economy is producing efficiently B.   the economy is engaged in trade with at least one other economy C.   increasing the production of one good by x units entails no opportunity cost in terms of the other good
D.   increasing the production of one good by x units entails a constant opportunity cost in terms of the other good
           
18) In economics, the cost of something is __________.
A.   what you give up to get it B.   often impossible to quantify, even in principle C.   the dollar amount of obtaining it D.   always measured in units of time given up to get it
           
19) A tax on an imported good is called a __________.
A.   supply tax
B.   trade tax C.   quota D.   tariff
20) Which of the following statements about GDP is correct?
A.   GDP is to a nation’s economy as household income is to a household. B.   GDP increases if the total population increases. C.   GDP measures two things at once: the total income of everyone in the economy and the unemployment rate.
D.   Money continuously flows from households to government and then back to households, and GDP measures this flow of money.
           
21) In computing GDP, market prices are used to value final goods and services because __________.
A.   if market prices are out of line with how people value goods, the government sets price ceilings and price floors
B.   Market prices are not used in computing GDP C.   market prices reflect the values of goods and services D.   market prices do not change much over time, so it is easy to make comparisons between years

22) Which of the following statements about GDP is correct?
A.   Nominal GDP values production at market prices, whereas real GDP values production at the cost of the resources used in the production process.
B.   Nominal GDP consistently underestimates the value of production, whereas real GDP consistently overestimates the value of production.
C.   Nominal GDP values production at current prices, whereas real GDP values production at constant prices.
D.   Nominal GDP values production at constant prices, whereas real GDP values production at current prices.
           
23) Which of the following is not correct?
A.   The U.S. debt per-person is large compared with average lifetime income.
B.   In 2005, the U.S. government had a deficit. C.   A potential cost of deficits is that they reduce national saving, thereby reducing growth of the capital stock and output growth.
D.   Deficits give people the opportunity to consume at the expense of their children, but they do not require them to do so.
           
24) The part of the balance of payments account that lists all long-term flows of payments is called the:
A.   balance of trade. B.   financial and capital account.
C.   government financial account.
D.   current account.
25) Edward Prescott and Finn Kydland won the Nobel Prize in Economics in 2004. One of their contributions was to argue that if a central bank could convince people to expect zero inflation, then the Fed would be tempted to raise output by increasing inflation. This possibility is known as __________.
A.   the sacrifice ratio dilemma B.   the monetary policy reaction lag
C.   the time inconsistency of policy
D.   inflation targeting
26) In general, the longest lag for __________.
A.   fiscal policy is the time it takes to change policy, while for monetary policy the longest lag is the time it takes for policy to affect aggregate demand
B.   both fiscal and monetary policy is the time it takes for policy to affect aggregate demand
C.   monetary policy is the time it takes to change policy, while for fiscal policy the longest lag is the time it takes for policy to affect aggregate demand
D.   both fiscal and monetary policy is the time it takes to change policy
27) Consider two items that might be included in GDP: (1) The estimated rental value of owner-occupied housing; and (2) purchases of newly-constructed homes. How are these two items accounted for when GDP is calculated?
A.   Only item (2) is included in GDP and it is included in the investment component.
B.   Item (1) is included in the consumption component, while item (2) is included in the investment component.
C.   Item (1) is included in the investment component, while item (2) is included in the consumption component.
D.   Both item (1) and item (2) are included in the consumption component of GDP.

28) Managers will utilize __________ skills with increasing frequency as they rise within an organization.
A.   Professional B.   Interpersonal and communication
C.   Technical D.   Professional E.   Conceptual and decision
29) Which of these represent skills that managers need?
A.   Interpersonal, quantitative, and professional B.   Technical, interpersonal & communication and conceptual & decision making
C.   Professional, technical and interpersonal & communication D.   Conceptual & decision making, professional and technical E.   Interpersonal & communication, conceptual & decision making and professional
           
30) Building a dynamic organization is another way of describing which function of management?
A.   Staffing B.   Organizing
C.   Leading D.   Controlling
E.   Planning
31) Your roommate is interested in starting a business and everybody has been giving him different information about being an entrepreneur. Since you have been studying about entrepreneurship and new ventures, which of these would you tell him is true?
A.   Anyone can start a business B.   All entrepreneurs need venture capital in order to get started C.   Successful entrepreneurs take very careful, calculated risks D.   Entrepreneurs are their own bosses and completely independent
E.   Money should not be considered a start-up ingredient
32) The term used to refer to all kinds of differences including religious affiliation, age, disability status, economic class and lifestyle in addition to gender, race, ethnicity and nationality is:
A.   Diversity B.   Managerial ethics
C.   Recruiting D.   Employment E.   Selection
33) A manager's ability to stimulate people to be high performers is referred to as:
A.   Planning B.   Supervising
C.   Controlling
D.   Organizing E.   Leading
34) A series of quality standards developed by a committee working under the International Organization for Standardization to improve total quality in all businesses for the benefit of both producers and consumers is:
A.   Total quality management B.   Customer-based integration C.   Computer-integrated manufacturing (CIM)
D.   Just-in-time control (JIT)
E.   ISO 9000
35) Japanese manufacturers' kaizen (continuous improvement) programs enable them to maintain:
A.   A strategic alliance B.   A homogeneous workforce C.   Positive working relationships with all employees
D.   A Learning advantage over their competition E.   Larger, faster facilities
36) Listening to employee suggestions, gaining support for organizational objectives and fostering an atmosphere of teamwork are all considered:
A.   Technical skills B.   Conceptual C.   Professional skills D.   Interpersonal/communication skills
E.   Diagnostic skills
37) The basic components of an effective sexual harassment policy include the following EXCEPT:
A.   To develop an organization wide policy on sexual harassment B.   To establish a means for ongoing training C.   To act immediately when employees complain of sexual harassment
D.   To establish a performance appraisal system E.   To establish a formal complaint procedure
38) Teams that operate separately from the regular work structure and exist temporarily are known as:
A.   Management teams B.   Transnational teams
C.   Self-managed teams
D.   Parallel teams E.   Self-designing teams
           
39) The Aquatic Center, Inc. periodically reviews the goals of the company. During the process, The Aquatic Center managers analyze their current strategies as compared to their competitors, determine goals that they will pursue and decide upon specific actions for each area of the company to take in pursuit of these goals. The Aquatic Center managers have been engaged in the management function of:
A.   Goal Coordination
B.   Controlling C.   Organizing D.   Staffing E.   Planning
40) As related to managing of human resources, diversity refers to:
A.   Differences in demographics (such as age, race, gender, disability status, lifestyle, veteran status, educational level, etc.)
B.   Differences in pay methods (such as hourly, salaried, overtime, hazard-pay, commissioned, etc.)
C.   Differences in employee benefit plans (such as pensions, insurance, vacations, memberships, etc.)
D.   Differences in retention strategies (such as training, hiring, incentives, etc) E.   Differences in recruiting methods (such as newspapers, schools, flyers, magazines, agencies, etc.)
           
41) __________ is the process of working with people and resources to accomplish organizational goals.
A.   Controlling B.   Decision making
C.   Planning D.   Supervising E.   Management
42) Twelve randomly-chosen students were asked how many times they had missed class during a certain semester, with this result: 2, 1, 5, 1, 1, 3, 4, 3, 1, 1, 5, 18.
For this sample, the median is _____.
A.   3 B.   3.5
C.   2.5
D.   2
43) Use the following table to answer question:
 P(S | W) is approximately _____.
A.   .40
B.   .30
C.   .12
D.   .58
           
44) Use the following table to answer question:
 P(M  A) is approximately _____.
A.   .50 B.   .625
C.   .125
D.   .25
45) Dullco Manufacturing claims that its alkaline batteries last forty hours on average in a certain type of portable CD player. Tests on a random sample of 18 batteries showed a mean battery life of 37.8 hours with a standard deviation of 5.4 hours.
In determining the p-value for reporting the study's findings, which of the following is true?
A.   The p-value is equal to .05. B.   The p-value is greater than .05. C.   The p-value cannot be determined without specifying  . D.   The p-value is less than .05.
46) William used a sample of 68 U.S. cities to estimate the relationship between Crime (annual property crimes per 100,000 persons) and Income (median income per capita). His estimated regression equation was Crime = 428 + .050 Income.
Which outcomes would be likely in a bivariate regression on 45 randomly chosen U.S. cities in 2005 with
Y = number of robberies in each city (thousands of robberies) and
X = size of police force in each city (thousands of police)?
A.   High R2 (due to city size). B.   Positive slope (due to city size).
C.   No correlation. D.   Autocorrelation.
47) Twelve randomly-chosen students were asked how many times they had missed class during a certain semester, with this result: 2, 1, 5, 1, 1, 3, 4, 3, 1, 1, 5, 18.
For this sample, which measure of central tendency is least representative of the “typical” student?
A.   Midrange
B.   Mean C.   Mode D.   Median
           
48) Likely reasons for inaccurate control limits would include which of the following?
A.   Process variation was not zero, as expected. B.   The engineering parameter for variance is unknown.
C.   There was insufficient preliminary sampling. D.   The engineers were underpaid for their work.
49) You are faced with a linear programming objective function of:
Max P = $20X + $30Y
and constraints of:
3X + 4Y = 24 (Constraint A)
5X – Y = 18 (Constraint B)
You discover that the shadow price for Constraint A is 7.5 and the shadow price for Constraint B is 0. Which of these statements is TRUE?
A.   The most you would want to pay for an additional unit of A would be $7.50.
B.   You can change quantities of X and Y at no cost for Constraint B. C.   For every additional unit of the objective function you create, the price of A rises by $7.50.
D.   For every additional unit of the objective function you create, you lose 0 units of B.
           
50) A project has three paths. A–B–C has a length of 25 days. A–D–C has a length of 15 days. Finally, A–E–C has a length of 20 days. Which one of the following statements is TRUE?
A.   The expected duration of this project is 25 + 15 + 20 = 60 days.
B.   A–D–C is the critical path. C.   The expected duration of this project is 25 days. D.   A–B–C has the most slack.
51) Which one of the following statements concerning production and staffing plans is best?
A.   A master production schedule is a projected statement of income, costs, and profits.
B.   Aggregation can be performed along three dimensions: product families, labor, and time.
C.   Production plans are based primarily on information from the master production plan.
D.   A staffing plan is the intermediate link between the business plan and the master production schedule.
           
52) While glancing over the sensitivity report, you note that the stitching labor has a shadow price of $10 and a lower limit of 24 hours with an upper limit of 36 hours. If your original right hand value for stitching labor was 30 hours, you know that:
A.   you would lose $80 if one of your workers missed an entire 8 hour shift. B.   the next worker that offers to work an extra 8 hours should receive at least $80.
C.   you would be willing pay up to $60 for someone to work another 6 hours.
D.   you can send someone home 6 hours early and still pay them the $60 they would have earned while on the clock.

53) The costs of delivering products in the _____ channel are much higher than delivering products in the _____ channel.
A.   physical, digital B.   e-commerce, digital
C.   physical, financial D.   digital, e-commerce
E.   digital, physical
54) When customers access a Web site and make purchases, they generate __________.
A.   Tracking cookies B.   Web data C.   Information D.   Clickstream data
E.   Hyperlink data
55) _____ is the integration of economic, social, cultural, and ecological facets of life, enabled by information.
A.   regionalization B.   globalization C.   nationalization D.   business environment
           
56) Various organizations that promote fair and responsible use of information systems often develop __________.
A.   a code of ethics B.   responsibility charters
C.   a strategic plan D.   a mission statement E.   a goals outline
57) What is _____ is not necessarily _____.
A.   Illegal, unethical B.   Unethical, legal C.   Ethical, illegal D.   Unethical, illegal
E.   Ethical, legal
58) _____ provides users with a view of what is happening, where _____ addresses why it is happening.
A.   Multidimensional data analysis, structured query language
B.   Multidimensional data analysis, neural networks C.   Data mining, multidimensional data analysis D.   Data mining, expert system E.   Multidimensional data analysis, data mining
59) Computer support is greatest for which of the following problems?
A.   Semistructured and strategic planning B.   Semistructured and management control
C.   Unstructured and operational control D.   Structured and operational control E.   Structured and management control
60) The management cockpit best exemplifies which type of system?
A.   Decision support system B.   Functional area information system
C.   Expert system D.   Digital dashboard E.   Group decision support system
61) _____ is the efficient and effective execution of specific tasks.
A.   Operational control
B.   Expertise C.   Management control
D.   Strategic planning E.   Wisdom
62) Geocoding is __________.
A.   accessing geographical information B.   integrating maps with spatially oriented databases and other databases
C.   integrating organizational transactions with spatially oriented databases D.   programming spatially oriented databases E.   encrypting spatial information
63) At 8% compounded annually, how long will it take $750 to double?
A.   48 months
B.   6.5 years C.   9 years D.   12 years
64) Which of the following represents an attempt to measure the earnings of the firm’s operations over a given time period?
A.   Cash flow statement
B.   Balance sheet C.   Income statement D.   Quarterly statement
           
65) A machine costs $1,000, has a three-year life, and has an estimated salvage value of $100. It will generate after-tax annual cash flows (ACF) of $600 a year, starting next year. If your required rate of return for the project is 10%, what is the NPV of this investment? (Round your answerwer to the nearest $10.)
A.   $570 B.   $490 C.   $900 D.   -$150
           
66) Disadvantages of using current liabilities as opposed to long-term debt include:
A.   higher cash flow exposure B.   greater risk of illiquidity, and uncertainty of interest costs
C.   decreased risk of liquidity D.   certainty of interest costs E.   uncertainty of future liabilities
67) Petrified Forest Skin Care, Inc. pays an annual perpetual dividend of $1.70 per share. If the stock is currently selling for $21.25 per share, what is the expected rate of return on this stock?
A.   12.5% B.   36.13%
C.   8.0% D.   13.6%
68) Which of the following is most consistent with the hedging principle in working capital management?
A.   Fixed assets should be financed with short-term notes payable. B.   Inventory should be financed with preferred stock. C.   Accounts receivable should be financed with short-term lines of credit.
D.   Borrow on a floating rate basis to finance investments in permanent assets.
           
69) An increase in future value can be caused by an increase in the __________.
A.   original amount invested B.   annual interest rate and number of compounding periods
C.   rate of return D.   dividends paid E.   starting value
70) If the quote for a forward exchange contract is greater than the computed price, the forward contract is:
A.   at equilibrium.
B.   undervalued. C.   a good buy. D.   overvalued.
71) Your company is considering an investment in a project which would require an initial outlay of $300,000 and produce expected cash flows in Years 1 through 5 of $87,385 per year. You have determined that the current after-tax cost of the firm’s capital (required rate of return) for each source of financing is as follows:
Cost of debt     8%
Cost of preferred stock           12%
Cost of common stock            16%
Long-term debt currently makes up 20% of the capital structure, preferred stock 10%, and common stock 70%. What is the net present value of this project?
A.   $1,568
B.   $871 C.   $1,241
D.   $463
72) Suppose you determine that the NPV of a project is $1,525,855. What does that mean?
A.   The project’s IRR would have to be less that the firm’s discount rate. B.   The project would add value to the firm. C.   Under all conditions, the project’s payback would be less than the profitability index.
D.   In all cases, investing in this project would be better than investing in a project that has an NPV of $850,000.
           
73) The common stockholders are most concerned with:
A.   the spread between the return generated on new investments and the investor’s required rate of return.
B.   the size of the firm’s beginning earnings per share. C.   the risk of the investment. D.   the percentage of profits retained.
74) PepsiCo calculates unlevered betas for each peer group in order to:
A.   eliminate different financial risks.
B.   eliminate competitive factors. C.   eliminate judgment factors. D.   eliminate different business risks.
75) Which of the following best represents operating income?
A.   Income from discontinued operations
B.   Earnings before interest and taxes C.   Income from capital gains D.   Income after financing activities
76) In comparison to the buying of final consumers, the purchasing of organizational buyers:
A.   is even less predictable. B.   leans basically toward economy, quality, and dependability.
C.   is always emotional. D.   is strictly economic and not at all emotional. E.   is always based on competitive bids from multiple suppliers.
           
77) The basic objective of the U.S. market-directed economic system is to:
A.   achieve an annual growth rate of at least 10 percent. B.   provide each person with an equal share of the economic output.
C.   make the most efficient use of the country's resources. D.   minimize inflation. E.   satisfy consumer needs as they--the consumers--see them.
78) Comparing GDP for foreign countries can help a marketing manager evaluate potential markets if the manager remembers that:
A.   GDP measures show people's tendency to buy particular products. B.   income tends to be evenly distributed among consumers in most countries. C.   GDP estimates may not be very accurate for very different cultures and economies.
D.   Other countries most likely don’t use the US Dollar as their primary currency.
E.   GDP measures show the degree of competition in a market.
79) A firm's "marketing mix" decision areas would NOT include:
A.   Promotion.
B.   People. C.   Price. D.   Place. E.   Product.
80) __________ is a marketing management aid which refers to how customers think about proposed and/or present brands in a market.
A.   Brand familiarity B.   Positioning
C.   Market scanning D.   Customer relationship management (CRM)
E.   Market segmentation
81) The "four Ps" of a marketing mix are:
A.   Production, Personnel, Price, and Physical Distribution
B.   Promotion, Production, Price, and People C.   Potential customers, Product, Price, and Personal Selling
D.   Product, Price, Promotion, and Profit E.   Product, Place, Promotion, and Price
82) When evaluating macro-marketing:
A.   the evaluation is necessarily subjective. B.   the best approach is to consider the profit generated by individual firms within the overall system.
C.   one must determine how efficiently the society's resources are used. D.   one must consider the society’s role in the marketing system. E.   one must consider each individual firm's role in the marketing system.
83) A cluster analysis of the "toothpaste market" would probably show that:
A.   the broad product-market can be served effectively with one marketing mix.
B.   most consu
          59) Computer support is greatest for which of the following problems? A. Semistructured and strategic planning B. Semistructured and management control C. Unstructured and operational control D. Structured and operational control E. Structured and management control        

BUS/475 Guide 4


1) The cost principle requires that when assets are acquired, they be recorded at __________.
A.   list price B.   selling price C.   exchange price paid D.   appraisal value
2) "Generally accepted" in the phrase generally accepted accounting principles means that the principles __________.
A.   have been approved for use by the managements of business firms
B.   have been approved by the Internal Revenue Service C.   have substantial authoritative support D.   are proven theories of accounting
3) The standards and rules that are recognized as a general guide for financial reporting are called __________.
A.   standards of financial reporting B.   operating guidelines C.   generally accepted accounting principles D.   generally accepted accounting standards
4) Sam's Used Cars uses the specific identification method of costing inventory. During March, Sam purchased three cars for $6,000, $7,500, and $9,750, respectively. During March, two cars are sold for $9,000 each. Sam determines that at March 31, the $9,750 car is still on hand. What is Sam’s gross profit for March?
A.   $8,250
B.   $750 C.   $4,500
D.   $5,250
           
5) Hess, Inc. sells a single product with a contribution margin of $12 per unit and fixed costs of $74,400 and sales for the current year of $100,000. How much is Hess’s break even point?
A.   2,133 units
B.   6,200 units
C.   $25,600 D.   4,600 units
           
6) As Plant Controller, you are trying to determine which costs over which you have the most control on a day to day basis. Your goal is to achieve better profitability. The Plant Operations Manager suggests that overhead is the easiest area to directly reduce costs. Which of the following items would be classified as manufacturing overhead?
A.   The western division’s vice president’s salary
B.   Cost of landscaping the corporate office C.   General corporate liability insurance D.   Factory janitor
7) What is the preparation of reports for each level of responsibility in the company’s organization chart called?
A.   Master budgeting analysis
B.   Exception reporting C.   Responsibility reporting
D.   Static reporting
8) Disney’s variable costs are 30% of sales. The company is contemplating an advertising campaign that will cost $22,000. If sales are expected to increase $40,000, by how much will the company's net income increase?
A.   $6,000 B.   $12,000
C.   $28,000
D.   $18,000
           
9) The cost of an asset and its fair market value are __________.
A.   never the same B.   irrelevant when the asset is used by the business in its operations
C.   the same on the date of acquisition D.   the same when the asset is sold
10) Which one of the following is a product cost?
A.   Indirect labor B.   Sales person’s salaries
C.   Advertising costs D.   Office salaries
11) What exists when budgeted costs exceed actual results?
A.   A budgeting error B.   An unfavorable difference
C.   An excess profit D.   A favorable difference
12) The income statement and balance sheet columns of Pine Company's worksheet reflects the following totals:
                        Income Statement                  Balance Sheet
            Dr.       Cr.                   Dr.       Cr.
Totals              $58,000           $48,000                       $34,000           $44,000
           

Closing entries are necessary for __________.
A.   permanent accounts only B.   both permanent and temporary accounts
C.   permanent or real accounts only D.   temporary accounts only
13) Managerial accounting __________.
A.   is concerned with costing products B.   pertains to the entity as a whole and is highly aggregated
C.   places emphasis on special-purpose information D.   is governed by generally accepted accounting principles
           
14) H55 Company sells two products, beer and wine. Beer has a 10 percent profit margin and wine has a 12 percent profit margin. Beer has a 27 percent contribution margin and wine has a 25 percent contribution margin. If other factors are equal, which product should H55 push to customers?
A.   Beer B.   Selling either results in the same additional income for the company
C.   It should sell an equal quantity of both D.   Wine
15) Lekeisha's income exceeds her expenditures. Lekeisha is a __________.
A.   saver who demands money from the financial system B.   borrower who demands money from the financial system
C.   borrower who supplies money to the financial system D.   saver who supplies money to the financial system
16) Maurice receives $100 as a birthday gift. In deciding how to spend the money, he narrows his options down to four choices: Option A, Option B, Option C, and Option D. Each option costs $100. Finally he decides on Option B. The opportunity cost of this decision is __________.
A.   the value to Maurice of the option he would have chosen had Option B not been available
B.   $100 C.   $300 D.   the value to Maurice of Options A, C and D combined
17) A production possibilities frontier will be a straight line if __________.
A.   the economy is producing efficiently B.   the economy is engaged in trade with at least one other economy C.   increasing the production of one good by x units entails no opportunity cost in terms of the other good
D.   increasing the production of one good by x units entails a constant opportunity cost in terms of the other good
           
18) In economics, the cost of something is __________.
A.   what you give up to get it B.   often impossible to quantify, even in principle C.   the dollar amount of obtaining it D.   always measured in units of time given up to get it
           
19) A tax on an imported good is called a __________.
A.   supply tax
B.   trade tax C.   quota D.   tariff
20) Which of the following statements about GDP is correct?
A.   GDP is to a nation’s economy as household income is to a household. B.   GDP increases if the total population increases. C.   GDP measures two things at once: the total income of everyone in the economy and the unemployment rate.
D.   Money continuously flows from households to government and then back to households, and GDP measures this flow of money.
           
21) In computing GDP, market prices are used to value final goods and services because __________.
A.   if market prices are out of line with how people value goods, the government sets price ceilings and price floors
B.   Market prices are not used in computing GDP C.   market prices reflect the values of goods and services D.   market prices do not change much over time, so it is easy to make comparisons between years

22) Which of the following statements about GDP is correct?
A.   Nominal GDP values production at market prices, whereas real GDP values production at the cost of the resources used in the production process.
B.   Nominal GDP consistently underestimates the value of production, whereas real GDP consistently overestimates the value of production.
C.   Nominal GDP values production at current prices, whereas real GDP values production at constant prices.
D.   Nominal GDP values production at constant prices, whereas real GDP values production at current prices.
           
23) Which of the following is not correct?
A.   The U.S. debt per-person is large compared with average lifetime income.
B.   In 2005, the U.S. government had a deficit. C.   A potential cost of deficits is that they reduce national saving, thereby reducing growth of the capital stock and output growth.
D.   Deficits give people the opportunity to consume at the expense of their children, but they do not require them to do so.
           
24) The part of the balance of payments account that lists all long-term flows of payments is called the:
A.   balance of trade. B.   financial and capital account.
C.   government financial account.
D.   current account.
25) Edward Prescott and Finn Kydland won the Nobel Prize in Economics in 2004. One of their contributions was to argue that if a central bank could convince people to expect zero inflation, then the Fed would be tempted to raise output by increasing inflation. This possibility is known as __________.
A.   the sacrifice ratio dilemma B.   the monetary policy reaction lag
C.   the time inconsistency of policy
D.   inflation targeting
26) In general, the longest lag for __________.
A.   fiscal policy is the time it takes to change policy, while for monetary policy the longest lag is the time it takes for policy to affect aggregate demand
B.   both fiscal and monetary policy is the time it takes for policy to affect aggregate demand
C.   monetary policy is the time it takes to change policy, while for fiscal policy the longest lag is the time it takes for policy to affect aggregate demand
D.   both fiscal and monetary policy is the time it takes to change policy
27) Consider two items that might be included in GDP: (1) The estimated rental value of owner-occupied housing; and (2) purchases of newly-constructed homes. How are these two items accounted for when GDP is calculated?
A.   Only item (2) is included in GDP and it is included in the investment component.
B.   Item (1) is included in the consumption component, while item (2) is included in the investment component.
C.   Item (1) is included in the investment component, while item (2) is included in the consumption component.
D.   Both item (1) and item (2) are included in the consumption component of GDP.

28) Managers will utilize __________ skills with increasing frequency as they rise within an organization.
A.   Professional B.   Interpersonal and communication
C.   Technical D.   Professional E.   Conceptual and decision
29) Which of these represent skills that managers need?
A.   Interpersonal, quantitative, and professional B.   Technical, interpersonal & communication and conceptual & decision making
C.   Professional, technical and interpersonal & communication D.   Conceptual & decision making, professional and technical E.   Interpersonal & communication, conceptual & decision making and professional
           
30) Building a dynamic organization is another way of describing which function of management?
A.   Staffing B.   Organizing
C.   Leading D.   Controlling
E.   Planning
31) Your roommate is interested in starting a business and everybody has been giving him different information about being an entrepreneur. Since you have been studying about entrepreneurship and new ventures, which of these would you tell him is true?
A.   Anyone can start a business B.   All entrepreneurs need venture capital in order to get started C.   Successful entrepreneurs take very careful, calculated risks D.   Entrepreneurs are their own bosses and completely independent
E.   Money should not be considered a start-up ingredient
32) The term used to refer to all kinds of differences including religious affiliation, age, disability status, economic class and lifestyle in addition to gender, race, ethnicity and nationality is:
A.   Diversity B.   Managerial ethics
C.   Recruiting D.   Employment E.   Selection
33) A manager's ability to stimulate people to be high performers is referred to as:
A.   Planning B.   Supervising
C.   Controlling
D.   Organizing E.   Leading
34) A series of quality standards developed by a committee working under the International Organization for Standardization to improve total quality in all businesses for the benefit of both producers and consumers is:
A.   Total quality management B.   Customer-based integration C.   Computer-integrated manufacturing (CIM)
D.   Just-in-time control (JIT)
E.   ISO 9000
35) Japanese manufacturers' kaizen (continuous improvement) programs enable them to maintain:
A.   A strategic alliance B.   A homogeneous workforce C.   Positive working relationships with all employees
D.   A Learning advantage over their competition E.   Larger, faster facilities
36) Listening to employee suggestions, gaining support for organizational objectives and fostering an atmosphere of teamwork are all considered:
A.   Technical skills B.   Conceptual C.   Professional skills D.   Interpersonal/communication skills
E.   Diagnostic skills
37) The basic components of an effective sexual harassment policy include the following EXCEPT:
A.   To develop an organization wide policy on sexual harassment B.   To establish a means for ongoing training C.   To act immediately when employees complain of sexual harassment
D.   To establish a performance appraisal system E.   To establish a formal complaint procedure
38) Teams that operate separately from the regular work structure and exist temporarily are known as:
A.   Management teams B.   Transnational teams
C.   Self-managed teams
D.   Parallel teams E.   Self-designing teams
           
39) The Aquatic Center, Inc. periodically reviews the goals of the company. During the process, The Aquatic Center managers analyze their current strategies as compared to their competitors, determine goals that they will pursue and decide upon specific actions for each area of the company to take in pursuit of these goals. The Aquatic Center managers have been engaged in the management function of:
A.   Goal Coordination
B.   Controlling C.   Organizing D.   Staffing E.   Planning
40) As related to managing of human resources, diversity refers to:
A.   Differences in demographics (such as age, race, gender, disability status, lifestyle, veteran status, educational level, etc.)
B.   Differences in pay methods (such as hourly, salaried, overtime, hazard-pay, commissioned, etc.)
C.   Differences in employee benefit plans (such as pensions, insurance, vacations, memberships, etc.)
D.   Differences in retention strategies (such as training, hiring, incentives, etc) E.   Differences in recruiting methods (such as newspapers, schools, flyers, magazines, agencies, etc.)
           
41) __________ is the process of working with people and resources to accomplish organizational goals.
A.   Controlling B.   Decision making
C.   Planning D.   Supervising E.   Management
42) Twelve randomly-chosen students were asked how many times they had missed class during a certain semester, with this result: 2, 1, 5, 1, 1, 3, 4, 3, 1, 1, 5, 18.
For this sample, the median is _____.
A.   3 B.   3.5
C.   2.5
D.   2
43) Use the following table to answer question:
 P(S | W) is approximately _____.
A.   .40
B.   .30
C.   .12
D.   .58
           
44) Use the following table to answer question:
 P(M  A) is approximately _____.
A.   .50 B.   .625
C.   .125
D.   .25
45) Dullco Manufacturing claims that its alkaline batteries last forty hours on average in a certain type of portable CD player. Tests on a random sample of 18 batteries showed a mean battery life of 37.8 hours with a standard deviation of 5.4 hours.
In determining the p-value for reporting the study's findings, which of the following is true?
A.   The p-value is equal to .05. B.   The p-value is greater than .05. C.   The p-value cannot be determined without specifying  . D.   The p-value is less than .05.
46) William used a sample of 68 U.S. cities to estimate the relationship between Crime (annual property crimes per 100,000 persons) and Income (median income per capita). His estimated regression equation was Crime = 428 + .050 Income.
Which outcomes would be likely in a bivariate regression on 45 randomly chosen U.S. cities in 2005 with
Y = number of robberies in each city (thousands of robberies) and
X = size of police force in each city (thousands of police)?
A.   High R2 (due to city size). B.   Positive slope (due to city size).
C.   No correlation. D.   Autocorrelation.
47) Twelve randomly-chosen students were asked how many times they had missed class during a certain semester, with this result: 2, 1, 5, 1, 1, 3, 4, 3, 1, 1, 5, 18.
For this sample, which measure of central tendency is least representative of the “typical” student?
A.   Midrange
B.   Mean C.   Mode D.   Median
           
48) Likely reasons for inaccurate control limits would include which of the following?
A.   Process variation was not zero, as expected. B.   The engineering parameter for variance is unknown.
C.   There was insufficient preliminary sampling. D.   The engineers were underpaid for their work.
49) You are faced with a linear programming objective function of:
Max P = $20X + $30Y
and constraints of:
3X + 4Y = 24 (Constraint A)
5X – Y = 18 (Constraint B)
You discover that the shadow price for Constraint A is 7.5 and the shadow price for Constraint B is 0. Which of these statements is TRUE?
A.   The most you would want to pay for an additional unit of A would be $7.50.
B.   You can change quantities of X and Y at no cost for Constraint B. C.   For every additional unit of the objective function you create, the price of A rises by $7.50.
D.   For every additional unit of the objective function you create, you lose 0 units of B.
           
50) A project has three paths. A–B–C has a length of 25 days. A–D–C has a length of 15 days. Finally, A–E–C has a length of 20 days. Which one of the following statements is TRUE?
A.   The expected duration of this project is 25 + 15 + 20 = 60 days.
B.   A–D–C is the critical path. C.   The expected duration of this project is 25 days. D.   A–B–C has the most slack.
51) Which one of the following statements concerning production and staffing plans is best?
A.   A master production schedule is a projected statement of income, costs, and profits.
B.   Aggregation can be performed along three dimensions: product families, labor, and time.
C.   Production plans are based primarily on information from the master production plan.
D.   A staffing plan is the intermediate link between the business plan and the master production schedule.
           
52) While glancing over the sensitivity report, you note that the stitching labor has a shadow price of $10 and a lower limit of 24 hours with an upper limit of 36 hours. If your original right hand value for stitching labor was 30 hours, you know that:
A.   you would lose $80 if one of your workers missed an entire 8 hour shift. B.   the next worker that offers to work an extra 8 hours should receive at least $80.
C.   you would be willing pay up to $60 for someone to work another 6 hours.
D.   you can send someone home 6 hours early and still pay them the $60 they would have earned while on the clock.

53) The costs of delivering products in the _____ channel are much higher than delivering products in the _____ channel.
A.   physical, digital B.   e-commerce, digital
C.   physical, financial D.   digital, e-commerce
E.   digital, physical
54) When customers access a Web site and make purchases, they generate __________.
A.   Tracking cookies B.   Web data C.   Information D.   Clickstream data
E.   Hyperlink data
55) _____ is the integration of economic, social, cultural, and ecological facets of life, enabled by information.
A.   regionalization B.   globalization C.   nationalization D.   business environment
           
56) Various organizations that promote fair and responsible use of information systems often develop __________.
A.   a code of ethics B.   responsibility charters
C.   a strategic plan D.   a mission statement E.   a goals outline
57) What is _____ is not necessarily _____.
A.   Illegal, unethical B.   Unethical, legal C.   Ethical, illegal D.   Unethical, illegal
E.   Ethical, legal
58) _____ provides users with a view of what is happening, where _____ addresses why it is happening.
A.   Multidimensional data analysis, structured query language
B.   Multidimensional data analysis, neural networks C.   Data mining, multidimensional data analysis D.   Data mining, expert system E.   Multidimensional data analysis, data mining
59) Computer support is greatest for which of the following problems?
A.   Semistructured and strategic planning B.   Semistructured and management control
C.   Unstructured and operational control D.   Structured and operational control E.   Structured and management control
60) The management cockpit best exemplifies which type of system?
A.   Decision support system B.   Functional area information system
C.   Expert system D.   Digital dashboard E.   Group decision support system
61) _____ is the efficient and effective execution of specific tasks.
A.   Operational control
B.   Expertise C.   Management control
D.   Strategic planning E.   Wisdom
62) Geocoding is __________.
A.   accessing geographical information B.   integrating maps with spatially oriented databases and other databases
C.   integrating organizational transactions with spatially oriented databases D.   programming spatially oriented databases E.   encrypting spatial information
63) At 8% compounded annually, how long will it take $750 to double?
A.   48 months
B.   6.5 years C.   9 years D.   12 years
64) Which of the following represents an attempt to measure the earnings of the firm’s operations over a given time period?
A.   Cash flow statement
B.   Balance sheet C.   Income statement D.   Quarterly statement
           
65) A machine costs $1,000, has a three-year life, and has an estimated salvage value of $100. It will generate after-tax annual cash flows (ACF) of $600 a year, starting next year. If your required rate of return for the project is 10%, what is the NPV of this investment? (Round your answerwer to the nearest $10.)
A.   $570 B.   $490 C.   $900 D.   -$150
           
66) Disadvantages of using current liabilities as opposed to long-term debt include:
A.   higher cash flow exposure B.   greater risk of illiquidity, and uncertainty of interest costs
C.   decreased risk of liquidity D.   certainty of interest costs E.   uncertainty of future liabilities
67) Petrified Forest Skin Care, Inc. pays an annual perpetual dividend of $1.70 per share. If the stock is currently selling for $21.25 per share, what is the expected rate of return on this stock?
A.   12.5% B.   36.13%
C.   8.0% D.   13.6%
68) Which of the following is most consistent with the hedging principle in working capital management?
A.   Fixed assets should be financed with short-term notes payable. B.   Inventory should be financed with preferred stock. C.   Accounts receivable should be financed with short-term lines of credit.
D.   Borrow on a floating rate basis to finance investments in permanent assets.
           
69) An increase in future value can be caused by an increase in the __________.
A.   original amount invested B.   annual interest rate and number of compounding periods
C.   rate of return D.   dividends paid E.   starting value
70) If the quote for a forward exchange contract is greater than the computed price, the forward contract is:
A.   at equilibrium.
B.   undervalued. C.   a good buy. D.   overvalued.
71) Your company is considering an investment in a project which would require an initial outlay of $300,000 and produce expected cash flows in Years 1 through 5 of $87,385 per year. You have determined that the current after-tax cost of the firm’s capital (required rate of return) for each source of financing is as follows:
Cost of debt     8%
Cost of preferred stock           12%
Cost of common stock            16%
Long-term debt currently makes up 20% of the capital structure, preferred stock 10%, and common stock 70%. What is the net present value of this project?
A.   $1,568
B.   $871 C.   $1,241
D.   $463
72) Suppose you determine that the NPV of a project is $1,525,855. What does that mean?
A.   The project’s IRR would have to be less that the firm’s discount rate. B.   The project would add value to the firm. C.   Under all conditions, the project’s payback would be less than the profitability index.
D.   In all cases, investing in this project would be better than investing in a project that has an NPV of $850,000.
           
73) The common stockholders are most concerned with:
A.   the spread between the return generated on new investments and the investor’s required rate of return.
B.   the size of the firm’s beginning earnings per share. C.   the risk of the investment. D.   the percentage of profits retained.
74) PepsiCo calculates unlevered betas for each peer group in order to:
A.   eliminate different financial risks.
B.   eliminate competitive factors. C.   eliminate judgment factors. D.   eliminate different business risks.
75) Which of the following best represents operating income?
A.   Income from discontinued operations
B.   Earnings before interest and taxes C.   Income from capital gains D.   Income after financing activities
76) In comparison to the buying of final consumers, the purchasing of organizational buyers:
A.   is even less predictable. B.   leans basically toward economy, quality, and dependability.
C.   is always emotional. D.   is strictly economic and not at all emotional. E.   is always based on competitive bids from multiple suppliers.
           
77) The basic objective of the U.S. market-directed economic system is to:
A.   achieve an annual growth rate of at least 10 percent. B.   provide each person with an equal share of the economic output.
C.   make the most efficient use of the country's resources. D.   minimize inflation. E.   satisfy consumer needs as they--the consumers--see them.
78) Comparing GDP for foreign countries can help a marketing manager evaluate potential markets if the manager remembers that:
A.   GDP measures show people's tendency to buy particular products. B.   income tends to be evenly distributed among consumers in most countries. C.   GDP estimates may not be very accurate for very different cultures and economies.
D.   Other countries most likely don’t use the US Dollar as their primary currency.
E.   GDP measures show the degree of competition in a market.
79) A firm's "marketing mix" decision areas would NOT include:
A.   Promotion.
B.   People. C.   Price. D.   Place. E.   Product.
80) __________ is a marketing management aid which refers to how customers think about proposed and/or present brands in a market.
A.   Brand familiarity B.   Positioning
C.   Market scanning D.   Customer relationship management (CRM)
E.   Market segmentation
81) The "four Ps" of a marketing mix are:
A.   Production, Personnel, Price, and Physical Distribution
B.   Promotion, Production, Price, and People C.   Potential customers, Product, Price, and Personal Selling
D.   Product, Price, Promotion, and Profit E.   Product, Place, Promotion, and Price
82) When evaluating macro-marketing:
A.   the evaluation is necessarily subjective. B.   the best approach is to consider the profit generated by individual firms within the overall system.
C.   one must determine how efficiently the society's resources are used. D.   one must consider the society’s role in the marketing system. E.   one must consider each individual firm's role in the marketing system.
83) A cluster analysis of the "toothpaste market" would probably show that:
A.   the broad product-market can be served effectively with one marketing mix.
B.   most consu
          60) The management cockpit best exemplifies which type of system? A. Decision support system B. Functional area information system C. Expert system D. Digital dashboard E. Group decision support system        

BUS/475 Guide 4


1) The cost principle requires that when assets are acquired, they be recorded at __________.
A.   list price B.   selling price C.   exchange price paid D.   appraisal value
2) "Generally accepted" in the phrase generally accepted accounting principles means that the principles __________.
A.   have been approved for use by the managements of business firms
B.   have been approved by the Internal Revenue Service C.   have substantial authoritative support D.   are proven theories of accounting
3) The standards and rules that are recognized as a general guide for financial reporting are called __________.
A.   standards of financial reporting B.   operating guidelines C.   generally accepted accounting principles D.   generally accepted accounting standards
4) Sam's Used Cars uses the specific identification method of costing inventory. During March, Sam purchased three cars for $6,000, $7,500, and $9,750, respectively. During March, two cars are sold for $9,000 each. Sam determines that at March 31, the $9,750 car is still on hand. What is Sam’s gross profit for March?
A.   $8,250
B.   $750 C.   $4,500
D.   $5,250
           
5) Hess, Inc. sells a single product with a contribution margin of $12 per unit and fixed costs of $74,400 and sales for the current year of $100,000. How much is Hess’s break even point?
A.   2,133 units
B.   6,200 units
C.   $25,600 D.   4,600 units
           
6) As Plant Controller, you are trying to determine which costs over which you have the most control on a day to day basis. Your goal is to achieve better profitability. The Plant Operations Manager suggests that overhead is the easiest area to directly reduce costs. Which of the following items would be classified as manufacturing overhead?
A.   The western division’s vice president’s salary
B.   Cost of landscaping the corporate office C.   General corporate liability insurance D.   Factory janitor
7) What is the preparation of reports for each level of responsibility in the company’s organization chart called?
A.   Master budgeting analysis
B.   Exception reporting C.   Responsibility reporting
D.   Static reporting
8) Disney’s variable costs are 30% of sales. The company is contemplating an advertising campaign that will cost $22,000. If sales are expected to increase $40,000, by how much will the company's net income increase?
A.   $6,000 B.   $12,000
C.   $28,000
D.   $18,000
           
9) The cost of an asset and its fair market value are __________.
A.   never the same B.   irrelevant when the asset is used by the business in its operations
C.   the same on the date of acquisition D.   the same when the asset is sold
10) Which one of the following is a product cost?
A.   Indirect labor B.   Sales person’s salaries
C.   Advertising costs D.   Office salaries
11) What exists when budgeted costs exceed actual results?
A.   A budgeting error B.   An unfavorable difference
C.   An excess profit D.   A favorable difference
12) The income statement and balance sheet columns of Pine Company's worksheet reflects the following totals:
                        Income Statement                  Balance Sheet
            Dr.       Cr.                   Dr.       Cr.
Totals              $58,000           $48,000                       $34,000           $44,000
           

Closing entries are necessary for __________.
A.   permanent accounts only B.   both permanent and temporary accounts
C.   permanent or real accounts only D.   temporary accounts only
13) Managerial accounting __________.
A.   is concerned with costing products B.   pertains to the entity as a whole and is highly aggregated
C.   places emphasis on special-purpose information D.   is governed by generally accepted accounting principles
           
14) H55 Company sells two products, beer and wine. Beer has a 10 percent profit margin and wine has a 12 percent profit margin. Beer has a 27 percent contribution margin and wine has a 25 percent contribution margin. If other factors are equal, which product should H55 push to customers?
A.   Beer B.   Selling either results in the same additional income for the company
C.   It should sell an equal quantity of both D.   Wine
15) Lekeisha's income exceeds her expenditures. Lekeisha is a __________.
A.   saver who demands money from the financial system B.   borrower who demands money from the financial system
C.   borrower who supplies money to the financial system D.   saver who supplies money to the financial system
16) Maurice receives $100 as a birthday gift. In deciding how to spend the money, he narrows his options down to four choices: Option A, Option B, Option C, and Option D. Each option costs $100. Finally he decides on Option B. The opportunity cost of this decision is __________.
A.   the value to Maurice of the option he would have chosen had Option B not been available
B.   $100 C.   $300 D.   the value to Maurice of Options A, C and D combined
17) A production possibilities frontier will be a straight line if __________.
A.   the economy is producing efficiently B.   the economy is engaged in trade with at least one other economy C.   increasing the production of one good by x units entails no opportunity cost in terms of the other good
D.   increasing the production of one good by x units entails a constant opportunity cost in terms of the other good
           
18) In economics, the cost of something is __________.
A.   what you give up to get it B.   often impossible to quantify, even in principle C.   the dollar amount of obtaining it D.   always measured in units of time given up to get it
           
19) A tax on an imported good is called a __________.
A.   supply tax
B.   trade tax C.   quota D.   tariff
20) Which of the following statements about GDP is correct?
A.   GDP is to a nation’s economy as household income is to a household. B.   GDP increases if the total population increases. C.   GDP measures two things at once: the total income of everyone in the economy and the unemployment rate.
D.   Money continuously flows from households to government and then back to households, and GDP measures this flow of money.
           
21) In computing GDP, market prices are used to value final goods and services because __________.
A.   if market prices are out of line with how people value goods, the government sets price ceilings and price floors
B.   Market prices are not used in computing GDP C.   market prices reflect the values of goods and services D.   market prices do not change much over time, so it is easy to make comparisons between years

22) Which of the following statements about GDP is correct?
A.   Nominal GDP values production at market prices, whereas real GDP values production at the cost of the resources used in the production process.
B.   Nominal GDP consistently underestimates the value of production, whereas real GDP consistently overestimates the value of production.
C.   Nominal GDP values production at current prices, whereas real GDP values production at constant prices.
D.   Nominal GDP values production at constant prices, whereas real GDP values production at current prices.
           
23) Which of the following is not correct?
A.   The U.S. debt per-person is large compared with average lifetime income.
B.   In 2005, the U.S. government had a deficit. C.   A potential cost of deficits is that they reduce national saving, thereby reducing growth of the capital stock and output growth.
D.   Deficits give people the opportunity to consume at the expense of their children, but they do not require them to do so.
           
24) The part of the balance of payments account that lists all long-term flows of payments is called the:
A.   balance of trade. B.   financial and capital account.
C.   government financial account.
D.   current account.
25) Edward Prescott and Finn Kydland won the Nobel Prize in Economics in 2004. One of their contributions was to argue that if a central bank could convince people to expect zero inflation, then the Fed would be tempted to raise output by increasing inflation. This possibility is known as __________.
A.   the sacrifice ratio dilemma B.   the monetary policy reaction lag
C.   the time inconsistency of policy
D.   inflation targeting
26) In general, the longest lag for __________.
A.   fiscal policy is the time it takes to change policy, while for monetary policy the longest lag is the time it takes for policy to affect aggregate demand
B.   both fiscal and monetary policy is the time it takes for policy to affect aggregate demand
C.   monetary policy is the time it takes to change policy, while for fiscal policy the longest lag is the time it takes for policy to affect aggregate demand
D.   both fiscal and monetary policy is the time it takes to change policy
27) Consider two items that might be included in GDP: (1) The estimated rental value of owner-occupied housing; and (2) purchases of newly-constructed homes. How are these two items accounted for when GDP is calculated?
A.   Only item (2) is included in GDP and it is included in the investment component.
B.   Item (1) is included in the consumption component, while item (2) is included in the investment component.
C.   Item (1) is included in the investment component, while item (2) is included in the consumption component.
D.   Both item (1) and item (2) are included in the consumption component of GDP.

28) Managers will utilize __________ skills with increasing frequency as they rise within an organization.
A.   Professional B.   Interpersonal and communication
C.   Technical D.   Professional E.   Conceptual and decision
29) Which of these represent skills that managers need?
A.   Interpersonal, quantitative, and professional B.   Technical, interpersonal & communication and conceptual & decision making
C.   Professional, technical and interpersonal & communication D.   Conceptual & decision making, professional and technical E.   Interpersonal & communication, conceptual & decision making and professional
           
30) Building a dynamic organization is another way of describing which function of management?
A.   Staffing B.   Organizing
C.   Leading D.   Controlling
E.   Planning
31) Your roommate is interested in starting a business and everybody has been giving him different information about being an entrepreneur. Since you have been studying about entrepreneurship and new ventures, which of these would you tell him is true?
A.   Anyone can start a business B.   All entrepreneurs need venture capital in order to get started C.   Successful entrepreneurs take very careful, calculated risks D.   Entrepreneurs are their own bosses and completely independent
E.   Money should not be considered a start-up ingredient
32) The term used to refer to all kinds of differences including religious affiliation, age, disability status, economic class and lifestyle in addition to gender, race, ethnicity and nationality is:
A.   Diversity B.   Managerial ethics
C.   Recruiting D.   Employment E.   Selection
33) A manager's ability to stimulate people to be high performers is referred to as:
A.   Planning B.   Supervising
C.   Controlling
D.   Organizing E.   Leading
34) A series of quality standards developed by a committee working under the International Organization for Standardization to improve total quality in all businesses for the benefit of both producers and consumers is:
A.   Total quality management B.   Customer-based integration C.   Computer-integrated manufacturing (CIM)
D.   Just-in-time control (JIT)
E.   ISO 9000
35) Japanese manufacturers' kaizen (continuous improvement) programs enable them to maintain:
A.   A strategic alliance B.   A homogeneous workforce C.   Positive working relationships with all employees
D.   A Learning advantage over their competition E.   Larger, faster facilities
36) Listening to employee suggestions, gaining support for organizational objectives and fostering an atmosphere of teamwork are all considered:
A.   Technical skills B.   Conceptual C.   Professional skills D.   Interpersonal/communication skills
E.   Diagnostic skills
37) The basic components of an effective sexual harassment policy include the following EXCEPT:
A.   To develop an organization wide policy on sexual harassment B.   To establish a means for ongoing training C.   To act immediately when employees complain of sexual harassment
D.   To establish a performance appraisal system E.   To establish a formal complaint procedure
38) Teams that operate separately from the regular work structure and exist temporarily are known as:
A.   Management teams B.   Transnational teams
C.   Self-managed teams
D.   Parallel teams E.   Self-designing teams
           
39) The Aquatic Center, Inc. periodically reviews the goals of the company. During the process, The Aquatic Center managers analyze their current strategies as compared to their competitors, determine goals that they will pursue and decide upon specific actions for each area of the company to take in pursuit of these goals. The Aquatic Center managers have been engaged in the management function of:
A.   Goal Coordination
B.   Controlling C.   Organizing D.   Staffing E.   Planning
40) As related to managing of human resources, diversity refers to:
A.   Differences in demographics (such as age, race, gender, disability status, lifestyle, veteran status, educational level, etc.)
B.   Differences in pay methods (such as hourly, salaried, overtime, hazard-pay, commissioned, etc.)
C.   Differences in employee benefit plans (such as pensions, insurance, vacations, memberships, etc.)
D.   Differences in retention strategies (such as training, hiring, incentives, etc) E.   Differences in recruiting methods (such as newspapers, schools, flyers, magazines, agencies, etc.)
           
41) __________ is the process of working with people and resources to accomplish organizational goals.
A.   Controlling B.   Decision making
C.   Planning D.   Supervising E.   Management
42) Twelve randomly-chosen students were asked how many times they had missed class during a certain semester, with this result: 2, 1, 5, 1, 1, 3, 4, 3, 1, 1, 5, 18.
For this sample, the median is _____.
A.   3 B.   3.5
C.   2.5
D.   2
43) Use the following table to answer question:
 P(S | W) is approximately _____.
A.   .40
B.   .30
C.   .12
D.   .58
           
44) Use the following table to answer question:
 P(M  A) is approximately _____.
A.   .50 B.   .625
C.   .125
D.   .25
45) Dullco Manufacturing claims that its alkaline batteries last forty hours on average in a certain type of portable CD player. Tests on a random sample of 18 batteries showed a mean battery life of 37.8 hours with a standard deviation of 5.4 hours.
In determining the p-value for reporting the study's findings, which of the following is true?
A.   The p-value is equal to .05. B.   The p-value is greater than .05. C.   The p-value cannot be determined without specifying  . D.   The p-value is less than .05.
46) William used a sample of 68 U.S. cities to estimate the relationship between Crime (annual property crimes per 100,000 persons) and Income (median income per capita). His estimated regression equation was Crime = 428 + .050 Income.
Which outcomes would be likely in a bivariate regression on 45 randomly chosen U.S. cities in 2005 with
Y = number of robberies in each city (thousands of robberies) and
X = size of police force in each city (thousands of police)?
A.   High R2 (due to city size). B.   Positive slope (due to city size).
C.   No correlation. D.   Autocorrelation.
47) Twelve randomly-chosen students were asked how many times they had missed class during a certain semester, with this result: 2, 1, 5, 1, 1, 3, 4, 3, 1, 1, 5, 18.
For this sample, which measure of central tendency is least representative of the “typical” student?
A.   Midrange
B.   Mean C.   Mode D.   Median
           
48) Likely reasons for inaccurate control limits would include which of the following?
A.   Process variation was not zero, as expected. B.   The engineering parameter for variance is unknown.
C.   There was insufficient preliminary sampling. D.   The engineers were underpaid for their work.
49) You are faced with a linear programming objective function of:
Max P = $20X + $30Y
and constraints of:
3X + 4Y = 24 (Constraint A)
5X – Y = 18 (Constraint B)
You discover that the shadow price for Constraint A is 7.5 and the shadow price for Constraint B is 0. Which of these statements is TRUE?
A.   The most you would want to pay for an additional unit of A would be $7.50.
B.   You can change quantities of X and Y at no cost for Constraint B. C.   For every additional unit of the objective function you create, the price of A rises by $7.50.
D.   For every additional unit of the objective function you create, you lose 0 units of B.
           
50) A project has three paths. A–B–C has a length of 25 days. A–D–C has a length of 15 days. Finally, A–E–C has a length of 20 days. Which one of the following statements is TRUE?
A.   The expected duration of this project is 25 + 15 + 20 = 60 days.
B.   A–D–C is the critical path. C.   The expected duration of this project is 25 days. D.   A–B–C has the most slack.
51) Which one of the following statements concerning production and staffing plans is best?
A.   A master production schedule is a projected statement of income, costs, and profits.
B.   Aggregation can be performed along three dimensions: product families, labor, and time.
C.   Production plans are based primarily on information from the master production plan.
D.   A staffing plan is the intermediate link between the business plan and the master production schedule.
           
52) While glancing over the sensitivity report, you note that the stitching labor has a shadow price of $10 and a lower limit of 24 hours with an upper limit of 36 hours. If your original right hand value for stitching labor was 30 hours, you know that:
A.   you would lose $80 if one of your workers missed an entire 8 hour shift. B.   the next worker that offers to work an extra 8 hours should receive at least $80.
C.   you would be willing pay up to $60 for someone to work another 6 hours.
D.   you can send someone home 6 hours early and still pay them the $60 they would have earned while on the clock.

53) The costs of delivering products in the _____ channel are much higher than delivering products in the _____ channel.
A.   physical, digital B.   e-commerce, digital
C.   physical, financial D.   digital, e-commerce
E.   digital, physical
54) When customers access a Web site and make purchases, they generate __________.
A.   Tracking cookies B.   Web data C.   Information D.   Clickstream data
E.   Hyperlink data
55) _____ is the integration of economic, social, cultural, and ecological facets of life, enabled by information.
A.   regionalization B.   globalization C.   nationalization D.   business environment
           
56) Various organizations that promote fair and responsible use of information systems often develop __________.
A.   a code of ethics B.   responsibility charters
C.   a strategic plan D.   a mission statement E.   a goals outline
57) What is _____ is not necessarily _____.
A.   Illegal, unethical B.   Unethical, legal C.   Ethical, illegal D.   Unethical, illegal
E.   Ethical, legal
58) _____ provides users with a view of what is happening, where _____ addresses why it is happening.
A.   Multidimensional data analysis, structured query language
B.   Multidimensional data analysis, neural networks C.   Data mining, multidimensional data analysis D.   Data mining, expert system E.   Multidimensional data analysis, data mining
59) Computer support is greatest for which of the following problems?
A.   Semistructured and strategic planning B.   Semistructured and management control
C.   Unstructured and operational control D.   Structured and operational control E.   Structured and management control
60) The management cockpit best exemplifies which type of system?
A.   Decision support system B.   Functional area information system
C.   Expert system D.   Digital dashboard E.   Group decision support system
61) _____ is the efficient and effective execution of specific tasks.
A.   Operational control
B.   Expertise C.   Management control