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If the subtotal of the income statement debit column is $250,000, the subtotal of the income statement credit column is $300,000, and the total of the Statement of Retained Earnings debit column is $475,000, what is the beginning balance in Retained Earnings? (Assume no dividends were declared.) A. $425,000 B. $250,0...
A
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Is the sum of the series $2 \sqrt2 - 3 + \frac{6}{\sqrt7} - \frac{10}{\sqrt{11}} + \frac{14}{\sqrt{17}} - \cdots $ equal to 1?
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Derive the speed formula {eq}v=r \omega {/eq} using the concepts of arc length and linear velocity. Do not substitute {eq}\omega {/eq} with {eq}\frac{d \theta}{dt}.{/eq} Use the relation between angular displacement {eq}\Delta \theta, \text{ radius } r, \text{ and arc length } s, {/eq} as well as the formula for linear...
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Using the graph below, answer the questions that follow. Based on the AD/AS graph, if there is a decrease in Aggregate Demand, then: a) the price level will fall, but the effect on real GDP is ambiguous. b) both the price level and real GDP will fall. c) real GDP will fall, but the effect on the price lev...
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Use a comparison test to determine whether the following series converges: {eq}\sum_{k=1}^\infty \frac{\sin^2(k)}{2^k} {/eq}
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Davis paid dividends of $10,000,000 and it had $5,000,000 of interest expense. If its net income amounted to $25,000,000, then its times interest earned ratio was: A. 2.5 B. 5 C. 10 D. None of the above
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Sheridan, Inc. paid $114000 to buy back 11400 shares of its $1 par value common stock. This stock was sold later at a selling price of $7 per share. The entry to record the sale includes: A. a debit to Retained Earnings for $34200. B. credit to Retained Earnings for $11400. C. credit to Paid in Capital from Treasury St...
A
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Which of the following fiscal policy actions would be most effective in shifting the economy to the right along a downward sloping short-run aggregate supply curve? (a) An increase in personal income taxes. (b) An increase in government spending. (c) A decrease in personal income taxes. (d) A reduction in business ...
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Which of the following is not a characteristics of a current liability? a) they are usually expected to be paid within one year or less b) they are incurred primarily from operating activities c) they are usually expected to be paid from current or near-term assets d) they are generally a short-term debt
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A job seeker has a _____ if he or she refuses a job because of an insufficient wage offer and later finds a job with a higher wage. a. temporary unemployment b. frictional unemployment c. structural unemployment d. no unemployment
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Which of the following would be an example of a sunk cost? a. The cost of a new oil burner that replaced a destroyed one. b. The cost of an old inefficient oil burner that will be replaced by a more modern and efficient one. c. Depreciation expense. d. Lost revenue from a bad debt.
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Why does the amount of the multiplier for a specific change in spending depend on the marginal propensity to consume (MPC)?
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Company B just paid an annual dividend of $.42 a share. The stock is selling for $18 a share and has a growth rate of 2.2 percent. What is the dividend yield, using the constant growth model? a. 2.47 percent b. 2.38 percent c. 2.33 percent d. 2.41 percent
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Sharon Inc. purchased a building for $250,000 and is depreciating the building over 20 years using MACRS depreciation. The building is currently valued at $153,464.07. How much will the building be valued on the books at the end of year four?
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When firms in an industry are forced to spend more on a per-unit variable cost due to technological changes, ___________. a. the long-run supply curve of the industry will become steeper b. the short-run supply curve of the industry will become steeper c. the long-run supply curve of the industry will become flatter...
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A gas turbine (expander) has an isentropic efficiency of 90% and receives steam at 450°C and 2000 kPa absolute, expanding to 150 kPa absolute. Calculate the actual exhaust temperature if this turbine is able to produce 350 kW while receiving 1.4 kg/s of steam.
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Market Failures (MF): Internal or External Benefits and Costs (Part II) Read the example below and answer the questions. Costs of Attic Insulation: Example 1: Assume that you, a potential renter of an apartment, are most concerned about the possibility of fire. Thus, you strongly prefer to have the apartment's attic...
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In the Modigliani-Miller Capital Structure Proposition I, with corporate taxes, the value of a leveraged firm is equal to the value of a: a. comparable unlevered firm, plus the value of the interest tax shield. b. comparable leveraged firm, less the value of the interest tax shield. c. comparable leveraged firm, plus t...
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Given the limit: $$\lim_ {n\to \infty}\left(\frac{n^2+5}{3n^2+1}\right)^{\! n}$$ Is it possible to assume that $$\lim_ {n\to \infty}\left(\frac{n^2+5}{3n^2+1}\right)^{\! n} = L$$ and then take the natural log of both sides $$\lim_ {n\to ∞}\left(n \cdot \ln\left(\frac{n^2+5}{3n^2+1}\right)\right) = \ln(L)$$ and keep sol...
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The T-account for cash showed a beginning balance of $5,000, an increase of $400, and an end balance of $5,800. Which of the following was not an event that took place during the period? A) Cash was obtained from borrowing $300. B) Cash was paid to suppliers for $400. C) Cash was collected from customers for $1,600....
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The short-run Phillips curve illustrates an inverse relationship between a) inflation and unemployment. b) inflation and interest rates. c) real GDP and unemployment. d) inflation and the money wage rate.
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Why does the series $3 + \frac{2}{10} + \frac{6}{100} + \frac{18}{1000} + \frac{54}{10000} + \cdots$ equal $\frac{3}{1 - \frac{1}{5}}$, and not $\frac{3}{1 - \frac{2}{10}}$ or any other variation? How does the formula for the sum of an infinite geometric series $S = \frac{a}{1 - r}$ apply in this case, and what is the ...
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Raj Vohra, Inc., has the following labor variances. Indicate whether each variance is favorable (F) or unfavorable (U). Labor efficiency variance $7,250 Labor rate variance $8,500
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At the time he was hired as a server at the restaurant 10 years ago, David was told that he could expect to receive a 5 percent raise a year for the next 10 years. What is the equivalent annual raise of David's earnings over the 10 years?
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The graph shows the electric field as a function of position in a particular region of space. If {eq}E_{xs} {/eq} = 100 N/C, what is the potential difference between x = 3 m and x = 6 m?
-300V
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Approximate the series $\sum_{k = 1}^{\infty} \frac{sin^2(28k)}{k^4}$ using the first four terms and estimate the error involved in this approximation.
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On July 1, Year 1, Fidelity Inc. sold a used machine to Falcon Corporation for $22,000 and issued an installment note requiring eight annual payments of $3,000 beginning on December 31, Year 1. The total balance of Fidelity's stock in trade account on that date was $100,000. You are considering a set of financial sta...
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My uncle is considering building a new house. He would like to cover the interior walls with carpet. He has two options. The first option is to use a regional material that costs $8.25 per square yard. The second option is to have a special deal with a major manufacturer that will allow him to purchase the necessary ma...
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(1,1) is a critical point for f(x,y)=3x^3+2y^3-9x^2+6y^2+36x-18y+3. The D of the second derivative test gives D=(18x-18)(12y+12)-81. At (1,1), D=0. How does one proceed?
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Under activity-based costing, the inspection costs associated with a job are computed by tracing the costs to the activity cost pool and then to the product. Activity-based costing always results in more accurate cost allocations than a plant-wide overhead rate. The allocation rate is the rate at which actual manufac...
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What is the minimum sample size needed for the managers to be 99% confident that their estimate is within 2.2 minutes of m, assuming that the standard deviation of the population of completion times is 10.1 minutes?
140
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Gardner Corporation's most recent balance sheet and income statement appear below: Statement of Financial Position December 31, Year 2 and Year 1 (in thousands of dollars) Year 2 Year 1 Assets Current assets: Cash $180 $160 Accounts receivable 280 270 Inventory 130 220 Prepaid expenses 60 70 Total current assets...
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Assume that an economist states that, she believes the Federal Reserve should have the freedom to conduct monetary policy as it best sees fit in order to moderate recessions and promote full employment and price stability. All of the following are true about this economist EXCEPT A. she does not agree with all other ...
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The financial statements that help to assess the company's liquidity, financial flexibility, and financial performance are the a. balance sheet and income statement. b. balance sheet and statement of cash flows. c. income statement and statement of cash flows. d. balance sheet, income statement, and statement of ca...
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Kim & Smith - a brokerage firm - has 10 investment advisers. The firm wants to evaluate its investment advisers to see how well they are doing in their current assignments. The variables "current account value" and "net new money raised" are the basis on which the advisers will be evaluated. These variables are also th...
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Carver Shop Company, which uses a periodic inventory system, had the following inventory and inventory transaction data: Inventory units Unit cost Inventory transaction units Transaction cost Beginning inventory on January 1 50 $3.00 Purchase on January 10 100 ...
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XYZ Corporation is a manufacturer of widgets. Over the past several months, it has been selling its widgets for $100 each and unit sales have averaged 5,000 units per month. This month its competitor, ABC, Inc. raised the price of its widgets from $100 to $110. XYZ noted that its unit sales increased by 200 units. Is i...
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{eq}\int (2u + 7)^{9}\ du = \: _____.
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The following data have been taken from the inventory cost records of Gold Key Corporation for the year just ended. Units Unit Cost Beginning inventory 10,000 $55 Purchases during the year: December 12 25,000 $56 April 22 50,000 $60 October 20 15,000 $64 Ending inventory 12,000 If the inventory is reported at av...
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How many cars must be randomly selected and tested in order to estimate the mean braking distance of registered cars in the U.S. to give a 99% confidence that the sample mean is within 2 ft of the population mean? The population standard deviation is known to be 7 ft.
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Which of the following mutations in a peptide sequence is most likely to result in a functional protein? A) Aspartic acid to arginine. B) Glutamic acid to glutamine. C) Glutamine to asparagine. D) Phenylalanine to serine. E) Phenylalanine to tyrosine.
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Which of the following would be an acceptable assumption for a two-factor model (APT)? a. The risk-free rate is 3 percent. b. Factor 1 accounts for 75 percent of the variation in all assets. c. A 1 percent change in factor 1 causes a 1.5 percent change in an asset's return. d. The expected return on an asset with z...
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Quad Enterprises is considering a new three-year expansion project that requires an initial fixed asset investment of $2.61 million. The fixed asset will be depreciated straight-line to zero over its three-year tax life, after which time it will be worthless. The project is estimated to generate $2,050,000 in annual sa...
$1,174,500
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Wilson's Markets is considering the purchase of a computerized cash register. The cost of the device is $2,455,000, and it is expected to save $635,000 per year for the next five years. Using an 8% discount rate, what is the net present value of this machine? a. $20,383,241 b. $178,830 c. $259,114 d. $190,366
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What is the current yield of a 4.75 percent coupon corporate bond with a market price of 96.35? The bond has a par value of $1,000 and a maturity of 15 years.
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IFRS allows reclassification of short-term debt that has been refinanced as long-term debt if the refinancing agreement is completed before the: a. Maturity Date of the Debt b. Balance Sheet Date c. Release of the Financial Statement d. Evaluation Date
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You have the following information for ABC Co. at the end of the year. Retained Earnings 210,000 Net Income 90,000 Dividends 20,000 Common Stock 50,000 Additional Paid-in Capital 80,000 Treasury Stock (20,000 shares) 40,000 What are the total stockholder's equity?
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Jester Corporation's most recent income statement appears below: Sales(All on Account) $580,000 Cost of Goods Sold 320,000 Gross Margin 260,000 Selling and administrative expense 140,000 Net Operating Income 120,000 Inter...
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If a set of grades on statistics examination are approximately normally distributed with a mean of 74 and a standard deviation of 7.9, what is the highest B if the top 5% of the students are given A's?
87
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For a cash flow in which the payment period and the compounding period are not the same, which of the following methods can be applied? A. convert the non-standard cash flow into a geometric gradient series B. convert the non-standard cash flow into a standard by changing the compounding period C. convert the non-st...
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Use the following information to answer this question. Probability Stock X Stock Y Recession 0.15 0.05 -0.12 Below Average 0.35 0.08 0.04 Average 0.30 0.13 0.08 Above average 0.10 0.18 0.12 ...
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The fact that a firm uses more experienced, higher-paid workers in manufacturing its product: a) will tend to increase the materials price variance. b) will tend to decrease the materials price variance. c) has no effect on the materials price variance. d) will tend to increase the labor rate variance. e) will ten...
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A measure of the quantity of resources consumed by an activity is: a) Quantity driver. b) Resource consumption cost driver. c) Not a cost driver. d) Activity consumption cost driver. e) Consumption cost driver.
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Suppose that the price p ( in dollars) and the weekly sales x ( in thousands of units) of a certain commodity satisfy the demand equation 3p^3+x^2 =19600. Determine the rate at which sales are changing at a time when x=140, p=10, and the price is falling at the rate of $ 130 per week.
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An investment project has annual cash inflows of $4,400, $1,800, $3,550, and $4,700, for the next four years, respectively. The discount rate is 12%. What is the discounted payback period for these cash flows if the initial cost is $5,250?
1.92 years
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Two samples each have n = 4 scores. If the first sample has a variance of 10 and the second sample has a variance of 6, what is the estimated standard error for the sample mean difference?
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Use the given substitution to evaluate the integral. {eq}\int\sqrt{9 + x^2}\text{ d}x,\ x = 3 \tan \theta {/eq}
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Braddock Construction Co.'s three-year income statement shows the following data: Sales: $ 1,033,000 Purchases: 501,000 Depreciation: 74,000 Wages and salaries: 120,000 Rent: 29,000 Interest: 22,000 Taxes: 41,000 Pre-tax income: $145,000 After-tax income: $101,500 Braddock's average tax rate is closest ...
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Information that is specific to a company's accounting policies is reported in which of the following? A. Statement of cash flows B. Notes to the financial statements C. Income statement D. Balance sheet
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How large a sample should be taken to know, with 99% confidence, the proportion of smokers who have tried to quit within the last year to within 0.02 of the true proportion, given a preliminary estimate that about 20% of smokers have tried to quit within the last year?
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What is the price of a $200,000 bond issue under the following assumption? Maturity Interest paid Stated rate Effective rate 20 years semi-annually 12% 12%
$200,000
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Which of the following is included as a subdiscipline by the Association for Psychological Science but not the American Psychological Association? a. rehabilitation b. behavioral genetics c. suicide d. measurement
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The ABC Company has the following cost function: C=600+3Q2 If its marginal cost (MC) is $300 when Q=10, then its total cost (TC) function is: A. TC=300Q B. TC=600Q+3Q2 C. TC=600+600Q D. TC=600+300Q+3Q2
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Compute the coefficient of variation given the following information about a stock: expected return = 13.3%, standard deviation = 24.8%
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First Trust Co. loaned $20 million to Cliffs Inc. for 3 years at 8% interest. Cliffs would like to issue $20 million in bonds to First Trust and roll back the loan. First Trust argues that as a condition of the loan, Cliffs must use the funds to buy back shares of stock. Cliffs insists that it can use the funds as it c...
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When the price of a good or service increases, this leads to a(n): A) decrease in total revenue if demand is elastic. B) increase in total revenue if demand is elastic. C) increase in total revenue if demand is inelastic. D) increase in total revenue regardless of elasticity.
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While the assets and accounts payable of a firm may reasonably be expected to grow with sales, will not naturally grow with sales. a. cost of sales b. supplier credit c. long term debt d. cash
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Because the firm has a single owner, it can charge a price that is _____ than the potential entrant's ATC but _____ than the firm's own ATC. a. lower; lower b. lower; higher c. higher; lower d. higher; higher
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Overhead applied will be underapplied if the plant is operated at less than capacity and the predetermined overhead rate is based on the estimated total units in the allocation base at capacity. a. True b. False
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Given a fixed sample size, which is true? a. if we wish to increase our confidence level, the margin of error will also increase b. if we wish to decrease our margin of error, we must decrease our confidence level c. if we wish to decrease our margin of error, we must increase our confidence level d. if we wish to ...
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Use the following information to answer the question(s) below Taggart Transcontinental pays no dividends, but spent $4 billion on share repurchases last year. Taggart's equity cost of capital is 13% and if the amount spent on repurchases is expected to grow by 5% per year. Taggart currently has 2 billion shares outstan...
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Assume that the Fed purchases $1 million worth of government bonds when the reserve requirement is 10%. By how much will the money supply increase? Assume this is a simple IOU and not actual Fed funds are used to purchase the bonds (Hint: Find out how much excess reserves this open market operation has created. Remembe...
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Find to 3 decimal places the value of t for the t distribution where the area in the left tail = 0.005 and n = 30.
-2.756
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Which of the following is false? a) A firm that currently has no debt can never have a target capital structure that includes some debt. b) An increase in the corporate tax rate would normally encourage a company to use more debt in its capital structure. c) The cost of capital used to evaluate a project should be t...
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Monopoly Demand: Q= 100 - 0.20P Cost: C= 20 + 50 Q Solve for the profit-maximizing Price
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An experimental drug has been found to be effective in treating 45% of the people afflicted by a certain disease. The drug is administered to 710 people who have this disease. What is the probability that the drug is effective for 305 people or less?
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Driscoll and Ezard are equal partners in DR Partnership. After operating the partnership for several years, they sell all of their inventory to Tanaka, who pays Driscoll and Ezard each $30,000. Partnership net income for the current year is $40,000. How should this net income be divided if the partnership agreement doe...
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A firm uses 4 sets of standard weights with 4 different masses (1 lb, 3 lb, 7 lb and 15 lb.) They are to be used in every possible combination so as to be able to check weight setting on a large machine to the quarter pound. How many different weights, can be made with these weights? a. 15 different weights can be m...
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Let $X=C[0,1]$ and $M=\{f \in C[0,1] : f(0)=f(1)=0\}$. Construct the space $X/M$ and find the norm of the element of $X/M$ that contains $f(t)=t$. That is, find $||t+M||=\inf_{g \in M} ||t-g||$.
1
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Countercyclical monetary policy in the AS/AD Model involves: A. contractionary monetary policy no matter what the level of unemployment. B. expansionary monetary policy no matter what the level of unemployment. C. contractionary monetary policy during periods of high unemployment and expansionary monetary policy dur...
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A microbrewery plans to conduct a study on beer consumption among men between the ages of 29 and 45. A pilot test indicated that men in this age category consume an average of 6 beers per week with a standard deviation of 2.3. If the microbrewery seeks a 99% confidence level and a precision of 0.5 beers, what size samp...
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A protein's function is determined by the properties of its amino acids. Which replacement of one amino acid with another is least likely to affect the protein's function? A) A hydrophilic amino acid is replaced by a hydrophobic amino acid. An amino acid with a C=O group is replaced by an amino acid with an O-H group....
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Rory Company has a machine with a book value of $125,000 and a remaining five-year useful life. A new machine is available at a cost of $259,200, and Rory can also receive $119,000 for trading in its old machine. The new machine will reduce variable manufacturing costs by $39,000 per year over its five-year useful life...
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What is the expected return on this stock? Year Beginning Price Ending Price Dividend 1 $32.10 $35.71 $0.71 2 $35.71 $33.86 $0.85 3 $33.86 $34.51 $0.63 4 $34.51 $38.41 $0.77 5 $38.41 $40.64 $0.64 A. 12.55%...
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Which of the following conditions is true when a producer minimized the cost of producing a given level of output? a. The marginal product per dollar spent on all inputs is equal. b. The MRTS is equal to the ratio of the quantity of inputs. c. The marginal products of all inputs are equal. d. The marginal product p...
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For his experiment, Professor Koo places each student in his statistics class on one of two groups. The students in group 1 study for 4 hours while the students in group 2 study for 8 hours. The test scores for the two groups are shown below: Group 1: 71, 82, 67, 90, 97, 79, 81, 87, 60, 75 ...
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A diffraction grating has 1800 lines/cm. On a screen 1.80 m from the grating, it is found that for a particular order, m, the maxima corresponding to two closely-spaced wavelengths of sodium, 589.0 nm and 589.6 nm, are separated by 0.550 cm. The value of m is closest to what?
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A particular security's equilibrium rate of return is determined by: a. the risk-free rate plus a risk premium for bearing uncertainty. b. the risk-free rate minus a risk premium for bearing uncertainty. c. the risk-free rate plus a risk premium for bearing business cycle uncertainty. d. the risk-free rate plus a r...
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What is the sample size required to estimate the proportion of students who smoke, with a 95% confidence interval and a margin of error of 0.02, given a conservative estimate of the proportion who smoke as 0.30?
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Since it started business 10 years ago, Alphafem Company has paid a constant $1.20 per share dividend to its common stockholders. Next year and every year thereafter, the company plans to increase the dividend at a constant rate equal to 2.5 percent per year. If investors require a 15 percent rate of return to purchase...
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Which of the following ions would you expect to be paramagnetic? a) O2 + b) N2 2- c) Li2+ d) O2 2-
a
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How do I simplify the expression $(n^2-1)! + \sum_{i=0}^{n} \sum_{j=0}^{i} (-1)^j j!(i-j)!(n-j)^2$?
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Assume that a company has a policy of using the same inventory method from period to period. The following data are available for the past three years. Inventory Cost of goods sold Market value Year 1 LIFO $660,000 $580,000 Year 2 LIFO 650,000 5...
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By what signal transduction mechanism does insulin exert its effects on target tissues? a. Enzyme-linked receptors. b. Altered transcription of mRNA. c. G-protein coupled receptors. d. Channel-linked receptors.
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Approximate the expression $\frac{1}{\ln 100}-\frac{1}{\ln 10}$ by using series. Use the fifth-order term in each series. (Enter your answer to five decimal places.)
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Which of the following statements are true? Select all that apply. A. Large economies cannot benefit from S&T based on Comparative Advantage. B. S&T based on Comparative Advantage will lead to efficiency in production. C. An economy that is Labor Abundant will tend to have C.A. in the type of production that is Labo...
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If the current unemployment rate is 5%, under which of the following circumstances would you expect the Fed to use contractionary monetary policy? a. if the natural rate of unemployment is below 5% b. if the natural rate of unemployment is above 5% c. if the inflation rate is above 5% d. if the inflation rate is be...
c
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Let $f(x,y,z)=yz+x^2+z^2$, and let $S$ be the portion of the plane $x+y+z=1$ lying in the first octant. Evaluate the surface integral $\iint_Sf(x,y,z)dS$ by projecting $S$ into the $xy$ plane, with the portion of the plane $x+y+z=1$ lying in the first octant as the domain of the double integral.
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The scores of individual students on the American College Testing (ACT) Program Composite College Entrance Examination have a normal distribution with a mean of 18.6 and a standard deviation of 6.0. What is the probability that a group of 20 randomly selected individual students has a mean score of less than 17?
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Max buys a new home for $200,000 and uses the straight-line method to depreciate it over 27.5 years. Assuming Max is in the 45% tax bracket, what is his depreciation expense after one year? a. $7,200 b. $7,765 c. $7,400 d. $7,273
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