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Which of the following would not be an appropriate performance measure for evaluating a manager responsible for a division that produces a product that has a single selling price and no byproducts? A. Budgeted contribution margin B. Contribution margin C. Contribution margin ratio D. Responsiveness to customer orde...
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Which of the following is not a transaction recorded in the cash payments journal? a. Purchase of supplies for cash. b. Purchase of merchandise on account. c. Payment of liability. d. Withdrawal of cash by owner.
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For any $a > 0$, show the sequence $x_{n+1}=$ $ \frac 12\left(x_n+ \frac {a} {x_n}\right)$ converges to the square root of $a$ for any $x_1>0$. Assume the limit exists (denoted by $x$) then, $x= \frac 12\left(x+ \frac {a} {x}\right)$ can be solved to $x^2 = a$. How could I show that it does exist?
\sqrt{a}
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The most difficult situation in which the time value of money applies is when: a) When payments are not the same and interest rates vary. b) When interest rates are compounded monthly but payments are made quarterly. c) When interest rates vary from year to year. d) When both payments and interest rates are variabl...
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How large a sample must you draw to be 99 percent confident that your estimate of {eq}\mu{/eq} is within $0.07 of {eq}\mu{/eq}? Assume that {eq}\sigma = 0.7{/eq} for the sampling formula.
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Find the limit (if it exists). {eq}\displaystyle \lim_{x \to \infty} \arctan(e^x) {/eq}
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Which of the following is a correct statement of one of the fundamental accounting principles? a) Expenses reduce assets and increase liabilities. b) An increase in assets and a decrease in stockholders' equity occurred as a result of an accounting transaction. c) The revenue and expense recognition principles dictate ...
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Scott Company purchased equipment for $250,000 on October 1, 2014. It is estimated that the equipment will have a useful life of 8 years and a salvage value of $50,000. Estimated production is 20,000 units and estimated working hours is 10,000. During 2014, Scott used the equipment for 900 hours and the equipment produ...
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Let S be a solid bounded by a parabolic cylinder x = 6y^2 and the plane 6x = z, z = 0, and x = 6. Find the volume of S.
172.8
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Integrate f(x) = x + y over the region bounded by y = 2x and y = x^2. (Round your answer to three decimal places.)
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A stock has a beta of 1.25, the expected return on the market is 12.1 percent, and the risk-free rate is 4.75 percent. Required: What must the expected return on this stock be?
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You are considering an investment in Justus Corporation's stock, which is expected to pay a dividend of $1.00 a share at the end of the year (D1 = $1.00) and has a beta of 0.9. The risk-free rate is 5.2%, and the market risk premium is 5.0%. Justus currently has a dividend yield of 6.00%. The company's dividend is expe...
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If the U.S. dollar were to appreciate against all foreign currencies, which of the following would most likely occur? A. U.S. exports would decrease, and U.S. imports would increase. B. U.S. exports and U.S. imports would decrease. C. U.S. exports would increase, and U.S. imports would decrease. D. U.S. exports and...
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Lerner Company has the following information for 2012: Cost of Goods Sold$300,000 Selling Expenses$200,000 Administrative Expenses$100,000 Depreciation Expense$25,000 Depreciation Expense is considered a fixed cost. What is the company's total variable cost for the year?
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Determine the probability that the first 100 customers spend a total between $780.00 and $820.00, given that customer spending is independent and identically distributed with a mean of eight dollars and a standard deviation of two dollars.
0.6826
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A company makes product X and product Y using a single raw material (RM). A kilogram of RM can be used to make 2 units of X or 1 unit of Y. Producing an unit of X contributes $80 to the company's profits; producing a unit of Y contributes $60. The company has 10,000 kg of RM available per day and can produce up to 5,00...
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A baseball-card collector (Nancy) is considering selling her collection. If the current owner (Jim) receives it now, he will pay her $100,000. If Jim receives it one year from now, he will pay her $110,000. If the opportunity cost to Jim of $1 today is 10%, which of the following transfer methods is preferred by both J...
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You are considering purchasing and renovating a duplex. You analysis indicates the based on rental history in the surrounding area the project should produce an IRR of 10 percent. Financing of the project will be accomplished with a mortgage of $90,000 (percent of the net purchase price plus improvements) which represe...
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Why is a negative dividend shock a positive demand shock? a. The change in price level is negative. b. The change in real output is positive. c. A negative dividend shock causes firms to be more optimistic about the future. d. This is not a demand shock, it is a supply shock.
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The main difference between a flexible budget and a master budget is that: a. the master budget contains more detailed cost estimates. b. the flexible budget provides a single level of estimated costs and revenues. c. a flexible budget only deals with cost and revenues. d. the master budget contains estimated costs...
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Use Green's Theorem to evaluate the integral {eq}\int_{C} dx + (2x + y) dy {/eq} for the path C boundary of the triangular region with vertices located at (0,0), (1,0) and (0,1).
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What will happen to the equilibrium price level and the equilibrium quantity of output if there is an increase in productivity across the board? Assume a downward sloping aggregate supply curve. A. The equilibrium price level increases, and the equilibrium quantity of output increases. B. The equilibrium price level ...
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Linda wants to estimate a 95% confidence interval for the mean of a normally distributed population. The sample mean is 38, and the sample standard deviation is 3. She plans to use a sample size of 50. What is the margin of error?
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Jane is working on a spreadsheet containing a stock portfolio for the month. The portfolio consisted of 1100 shares of stock A, 400 shares of stock B, and 700 shares of stock C. The last price of stock A was $22.50, stock B was $10.50, and stock C was $17.25. Jane accidentally deleted the column with the stock prices b...
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Pat wants to have a Pastry Shop in State College and she expects that her monthly revenues will increase by $4,000 when she opens her shop. Her fixed costs are expected to increase by $1,000 per month and her variable costs are expected to increase by 50%. She believes the Pastry Shop project should be rejected based o...
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An analyst is evaluating a company with the following information: Net income $2,000 Share of net income to non-controlling interest $200 Dividends to controlling interest's common shareholders$250 Dividends to preferred shareholders $100 Net assets $4,000 How much is the non-controlling interest in the subsidiar...
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Suppose the own-price elasticity of market demand for retail gasoline is -0.8, the Rothschild index is 0.6, and a typical gasoline retailer enjoys sales of $1,900,000 annually. What is the price elasticity of demand for a representative gasoline retailer's product? Instruction: Round your answer to 2 decimal places.
-1.33
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On January 1, 2013, Jensen Company had 40,000 shares of common stock issued and outstanding. No new common stock was issued during 2013. On January 1, 2013, Jensen also issued $1 million of 12%, 10-year convertible bonds at face value. Each $1,000 bond is convertible into 40 shares of common stock. Jensen's net income ...
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If a not-for-profit hospital uses nominal rates (that include an inflationary component) to determine patient's charges, it is required by the IRS to: a) Include the present value of past inflation in the cost of providing services for those patient. b) Depreciate its physical plant and equipment using the nominal ra...
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In a perfectly competitive market, firms differ in that: A) each has a different price for its product. B) each must accept the market price. C) each is characterized by a perfectly elastic demand. D) each is characterized by a downward sloping demand.
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Evaluate the line integral $\int_C 2y \,dx +3x\,dy$, where $C$ is the straight line path from $(3,1)$ to $(0,3)$.
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A domestic currency exchange rate provides information about the value of: A. a domestic currency in terms of foreign currency. B. foreign currency in terms of a domestic currency. C. a domestic currency in terms of gold. D. foreign currency in terms of gold.
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You are given the problem of building a structure that can support an overcoat in the middle of a room and are given only two long sticks and a clamp to work with. You are more likely to solve this problem if you first thought of how pole lamps are wedged between floor and ceiling. Using your previous knowledge of pole...
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If the market price for a bond is $600, with a par value of $1,000, a stated interest rate of 8%, and a yield of 10%, which of the following is true: A. The number of years to maturity is more than 10 years. B. The number of years to maturity is less than 10 years. C. The bond pays interest semiannually. D. The bon...
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I need to find the limit of a sequence $a_n$ defined by $a_1 = 1$ and $a_{n+1} = \frac{1}{2}\left(a_n + \frac{2}{a_n}\right)$. I know I need to show the sequence is decreasing and bounded below, so let $P(n): a_n > a_{n+1}$. I showed $P(1)$ is true and assumed $P(k)$ is true for some $k$. However, I'm stuck proving $P(...
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An unfavorable cost variance occurs when actual costs: A. Are lower than standard costs. B. Are higher than standard costs. C. Are equal to standard costs. D. Are increasing over time. E. None of these.
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Which of the following expenses would not be deductible: a. A fine imposed by a government for pollution. b. Cost of making and shipping sales samples. c. Expenses for an illegal business. d. Either a or c.
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I am looking for a direct proof that the upper-convex hull of the set $S=\{x \in R^n \mid x_1x_2...x_n=1,x_1,...,x_n>0\}$ is the set $T=\{x \in R^n \mid x_1x_2...x_n=1,x_1,...,x_n>0\} \bigcup \{(1,0,..,0),(0,1,..,0),...\}$. I know that T is convex and it contains S but I am looking for a proof that there are no other p...
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$\lim_{x\rightarrow 0}(\ln x^{2})^{2x}$ How to find the limit and does it exist?
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Ben owns stock in a company which has two classes of stock A and B. Class A has 12,000 shares and class B has 24,000 shares. Today the company announced their quarterly dividend of $0.50 per share for class A and $0.25 for class B. Ben should receive what total dividend? a. $3000 b. $6000 c. $4500 d. $1500
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Use the ideal gas law to prove the cyclic rule of partial derivatives.
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What is the beta of a portfolio with 50% invested in a stock with beta = 0.4, 30% invested in a stock with beta = 1.4, and 20% invested in a stock with beta = 1.6?
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A company had a net income of $1,050,000. Depreciation expense is $230,000. During the year, accounts receivable and inventory decreased by $22,000 and $52,000, respectively. Prepaid expenses and accounts payable increased by $8,000 and $23,000, respectively. There was also a gain on the sale of equipment of $28,000. H...
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Given that there are $n$ points in the first octant, all lying on the surface of the plane $x+y+z=1$ such that the distance of each point from the origin is $\sqrt{\frac{n}{2(n+1)}}$, the value of $n$ is:
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Moby Dick Corporation has sales of $4,823,099; income tax of $568,936; selling, general, and administrative expenses of $283,026; depreciation of $301,300; cost of goods sold of $2,771,426; and interest expense of $197,396. Calculate the amount of the firm's after-tax cash flow from operations.
$1,002,315
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Is there an easy way to calculate the integral $\int_{\lvert z\rvert =1} \frac{dz}{(z-\frac{1}{2})(z+2)}$ using the residue theorem?
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Extraordinary Repairs: a) extend an asset's useful life beyond its original estimate. b) are credited to accumulated depreciation. c) are additional costs of plant assets that do not materially increase the asset's life. d) are expensed as incurred.
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Consider a population with a standard deviation of 10. A random sample of size n = 50 provides a sample mean of 25. What is the 95% confidence interval for {eq}\mu{/eq}?
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During a severe recession, an increase in government spending will: a) have no impact on income and employment b) cause income and employment to rise but not much c) cause income and employment to rise a great deal d) cause income to rise but not employment
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You are considering investing in a bank account that pays a nominal annual rate of 7%, compounded monthly. If you invest $3,000 at the end of each month, how many months will it take for your account to grow to $150,000? Round your answer to two decimal places. Total time =..............
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There are many bulbs and each bulb has an expectation of lifespan of $1$ hour, and we could assume that the lifespan conforms to exponential distribution. Once a bulb runs out of its life, we change it with a new one. And we observe the bulb at the time point of exactly $10000$th hour, what's the expectation of lifespa...
2
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The forgone opportunity cost of deciding to attend a concert in New York City rather than touring with your family in New York City is: A. The price you paid for the family trip. B. The cost of the concert ticket. C. The value of the trip with your family. D. The cost of the trip with your family.
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A random sample of 25 business days showed that a financial analyst spent an average of 1.4 hours with each trade call, with a standard deviation of 0.2 hours. Suppose the analyst took 60 trade calls this week. What is the probability that the mean time spent per call is more than 1.3 hours? Assume the times spent per ...
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_____ occurs when partners in an alliance possess high-quality resources and capabilities of significant value in an alliance but fail to make those resources and capabilities available to alliance partners. A) Moral hazard B) Adverse selection C) Holdup D) Explicit collusion
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In a study of police gunfire reports during a recent year, it was found that the average number of gunshots fired per incident was 2.96. Assume that the distribution of gunshots is Poisson. Find the probability that exactly 5 gunshots will be fired in a police incident.
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You work for a logistics company and your manager has asked you to calculate several statistics for the distribution of 20-pound metal shipping containers to various locations. You are to use a random sample of 200 containers to do the calculations. The results are presented in the table below. Shipping container weig...
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For which values of $\alpha$ does the integral $\int\int_{D}\frac{1}{(x+y)^{\alpha}}dxdy$ converge, where $D: 0 \le y \le 1 - x, 0 \le x \le 1$? Why does the expression $\frac{1}{-\alpha+2}$ derived from the integral seem to suggest convergence for $\alpha < 2$, while the integral actually diverges for values greater t...
\alpha < 2
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From the following types of risks: A. Damage to reputation B. Information technology (IT) C. Credit D. Competition E. Capital investment and/or shareholder requirements. Of the above risks, the following are Strategic Risks: a. B, D, and E b. A, D, and E c. B, C, and D d. A, B, C, D, and E
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What are the final number of moles present after the reaction occurs when a mole of solid ice at -10 Celsius is heated to 110 Celsius at 1.0 atm? The specific heats of ice, water, and steam are 2.09, 4.18, and 1.84 J/gK, respectively.
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Last year's dividend was {eq}\$3.2 {/eq}. The dividend growth rate is expected to be constant at {eq}3.25\% {/eq} for {eq}2 {/eq} years and then {eq}5\% {/eq} thereafter. The firm's required return is {eq}11\% {/eq}. What is the best estimate of the current stock price? a. {eq}\$38.16 {/eq}. b. {eq}\$39.74 {/e...
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Consider a firm that has a potential output equal to 300 units but currently produces 250 units. The current price is $10 and the price elasticity of demand is -0.2. In order to produce and sell the marginal unit, this firm must: a. reduce the price by less than 5% b. raise the price by more than 5% c. reduce the pr...
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What is the optimal output when the wage is $14 and the price of capital is $7, given that the marginal product of capital is 10 and the marginal product of labor is 25?
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I was solving an integral by differentiating under the integral sign. I let $n=1+\pi^2$ so that I get an easier function to integrate. $$\frac{\partial }{\partial n}\int_{0}^{\pi}\ln(n-2\pi\cos(x))dx=\int_{0}^{\pi}\frac{dx}{n-2\pi\cos(x)}$$ Then I let $u=\tan\left(\frac{x}{2}\right)$: $$\int_{0}^{\infty}\frac{2}{1+u^2}...
2\pi\ln(\pi)
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One pound of cheese in the United States is priced at $3.10. If the exchange rate is 0.49 dollars per euro and one pound of cheese costs €2.37 in Italy, by how much is cheese more expensive in the United States? (Round your answer to 2 decimal places. Omit the "$" sign in your response.)
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If f(n) = {eq}\frac{(n+2)!}{(n!)^2} and {eq}a_n = \frac{f(n)}{f(n+1)}, how do you find the limit of {eq}a_n as n approaches infinity using a calculator?
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The types of renewal strategies include A) retrenchment strategy. B) turnaround strategy. C) diversification strategy. D) retrenchment and turnaround strategies. E) None of the answer choices is correct.
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Suppose the spot exchange rate is $1.54 per euro. Which of the following would be an arbitrage opportunity if the six-month forward exchange rate was $1.60 per euro? a. long euros and short dollar. b. long dollar and short euros. c. sell dollar forward. d. buy euros forward.
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Consider a two-commodity economy. The consumption set is {eq}R^{2} {/eq} and the initial endowment is {eq}(\omega_{1}, \omega_{2}) {/eq}. All prices are positive. Let {eq}\pi = (p_{1}, p_{2}) {/eq}. Let {eq}T(p, \omega) {/eq} be the utility level attained by an equal utility improvement of initial allocation {eq}\o...
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A(n) _____ is a review to determine whether the policies and procedures specified by top management have been implemented by lower managers. A) management audit. B) internal audit. C) internal control. D) internal accounting control.
B
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Sally took a statistics class several semesters ago and earned an A on the final exam. She took another statistics class this semester and earned a B. The probability that her test performance this semester is an indication of a real increase in her ability is more likely if she took the first class with a. a professo...
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Given $\lim_{(x, y) \to (1, -2)} \frac{x^{2} - y^{2}}{x + y}$ and the result $L = 0$, and knowing that $0 \leq \sqrt{(x - 1)^{2} + (y + 2)^{2}} < \delta$ implies $|f(x, y) - 0| < \epsilon$, how do I derive the implication $0 \leq 2\sqrt{(x - 1)^{2} + (y + 2)^{2}} < \epsilon$ from $|x - 1| + |y + 2| < \sqrt{2}\delta$, a...
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You sell an old rental property for $800,000, and the property was purchased for $200,000 five years ago. The market rental is $3,000/month, and you were actually collecting $2,000/month. The expected life of the property is 25 years. The expected net cash flow from the new tenant is $2,800/month. Your marginal tax rat...
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What is the discount rate in the formula PV = FV / (1+r)^n? a) Nominal rate b) Effective rate c) Required return rate d) All of the above e) None of the above
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One way to encourage people to spend more on preventative health care is to reduce the price of health care to consumers by decreasing the health insurance copayment. At current copayment levels, if the price elasticity of demand for visits to see the doctor is -0.6, by what percentage will the quantity demanded of doc...
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Calculate the work done by the force vector {eq}\overrightarrow{F}\left( x,y \right)=-yi+xj {/eq} from {eq}(3,9) {/eq} to {eq}(0,0) {/eq}, including the part of {eq}C:y={{x}^{2}} {/eq} parabola between {eq}(0,0) {/eq} and {eq}(3,9) {/eq}.
9
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A consignor included merchandise in the hands of the consignee in ending inventory. a. Net income for the current year will be overstated. b. Net income for the current year will be understated. c. Net income for the current year will not be affected. d. None of the above
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Find the sample size, n, needed to estimate the percentage of adults who have consulted fortune tellers. Use a 0.06 margin of error, use a confidence level of 90 %, and use results from a prior poll suggesting that 28% of adults have consulted fortune tellers.
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Which of the following methods would provide the best matching of revenues and related expenses? A. the LIFO inventory method. B. the FIFO inventory method. C. the average-cost inventory method. D. LIFO with a periodic inventory system.
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The theory that exogenously increasing the money supply in the short run might increase employment assumes a. that financial markets are not very efficient. b. that the demand for money is interest-inelastic in the short run. c. that the central bank has no influence on the interest rate. d. that interest rates are...
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You are considering a project with an initial outlay of $4,340. What is the internal rate of return (IRR) for the project if the cash flows for years 1 through 10 are $970, $1,210, $1,340, $1,480, $1,480, $1,120, $1,270, $1,750, $1,410, and $1,090, respectively?
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Getzels and Jackson (1962) used _____ to assess creativity by asking subjects to write as many meanings of the words: duck, sack, pitch, and fair. a. vocabulary ability b. language ability c. semantic ability d. associative ability
d
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Sorin Corporation produces a single product. The company's income statement for September appears below: Sales (4,800 units) $266,400 Variable expenses 158,400 Contribution margin 108,000 Fixed expenses 98,520 Net operating income $9,480 ...
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A put option gives the owner the right: A. And the obligation to buy an asset at a given price. B. And the obligation to sell an asset as a given price. C. But not the obligation to buy or sell an asset at a given price. D. But not the obligation to buy an asset at a given price. E. But not the obligation to sell ...
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Vee, Inc., has a net working capital of $48 million, current liabilities of $18 million, and inventories of $16 million. The current ratio is _____ times and the quick ratio is _____ times.
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A company is introducing a new product. In the first year they would like to establish a price so as to maximize profit. To do this, they need to determine the demand for the new product. They have commissioned a research study, which has determined the demand function (price equation) to be p(x) = 400 - 0.45x. The com...
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Let Y be a random variable with a distribution for which the p.d.f. is {eq}f(y) = \lambda e^{- \lambda y}, \;\; 0 < y < \infty, \;\; \lambda > 0 {/eq}. What is E(Y)?
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Use Riemann sums and limits to compute the area bounded by f(x) = 10x + 9 and the x-axis between x = 10 to x = 5.
420
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Houston Company uses a periodic inventory system and the average cost retail method to estimate ending inventory. The following data is available from the company records, for the month of September: Purchase Returns $23,000 Purchases 578,000 Purchase Discounts 21,000 Freight In 17,000 Net Markups 19,000 N...
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Which one of the following is the general rule for allocating cash payments to interest and principal when using the straight-line method of amortization? A) The larger the payment, the greater the amount allocated to interest expense. B) The smaller the balance remaining on the loan, the greater the amount allocated...
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If you purchased 100 shares at $57 per share, and the price rose to $60 per share, what is your return on investment (without commissions)? Round to the nearest whole percentage. - 5% - 10% - 3% - 6%
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Which of the following could be a correct interpretation of a calculated percentage change in demand for a product that equals 12%, a calculated price elasticity of demand of 3.0, and a calculated total revenue from sales of $1,000? A. The price of the product increased by $1.25; the quantity of the product demanded i...
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How many planes can be made that are defined by 4 non-collinear points? a. 3 b. 4 c. 6 d. 0
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$\lim_{n\rightarrow \infty}{\dfrac{2n^2-3n+1}{n^2-n+7}}=2$. I got to: $\dfrac{n+13}{n^2-n+7}<\epsilon$. How do I finish the proof?
2
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The price elasticity of demand for a monopolistically competitive firm's product is: A) equal to that of a monopoly firm. B) greater than that of a monopoly firm. C) less than that of a competitive firm. D) equal to that of a competitive firm. E) None of the above.
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Soneta company has two service departments, maintenance and janitorial, and two operating departments, X and Y. The budgeted costs for the maintenance department for the year are $645,000 and for the janitorial department are $450,000. Maintenance costs are allocated to operating departments based on machine hours, and...
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Assume that a firm's short-run marginal product curve is a smooth inverted U-shaped curve, when labor input increases, the corresponding total product curve has a(n) A. U-shape because it will be concave first and then convex later. B. reverse S-shape because it will be convex first and concave later. C. S-shape bec...
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A company sells a product which has a unit sales price of $5, unit variable cost of $3 and total fixed costs of $30,000. The number of units the company must sell in order to break-even is: a. 15,000 b. 20,000 c. 30,000 d. none of the above
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If stock prices are expected to climb next year, everything else held constant, the __________ curve for bonds shifts __________ and the interest rate __________. A) demand; left; rises B) demand; right; rises C) demand; left; falls D) supply; left; rises
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Coin A has 0.6 probability of being heads, Coin B has a 0.3 probability of being heads and Coin C has a 0.1 probability of heads. Given that a coin is flipped and lands on heads, what is the probability that when it is flipped again it will also be heads.
0.46
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Hotteas Inc., issues $100,000 of 8%, 20-year bonds for 102. On the maturity date, the company will pay the bondholders $102,000. Which of the following will Hotteas include in its income statement for the year ended December 31, Year 1? A. $2,000 amortization of premium on bonds and interest expense of $4,000 B. $2,...
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