Chapter 5: National-Income Accounting Multiple Choice Questions MEASURES OF OUTPUT 1. The primary purpose of the national-income accounts is to assist: A) Market investors in making more profitable investments. B) Wage earners in maximizing their incomes. C) Economic historians to better understand the economic past. D) Government policy makers in formulating economic policies and evaluating performance. Answer: D Type: Definition Page: 93 2. Prices
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Discuss the relative merits of and problems with: a. Rating and ranking scales Rating scales are used when participants score an object or indicant without making a direct comparison to another object or attitude. Possible problems of rating scales include leniency‚ central tendency and the halo effect. Ranking scales are used to tap preferences between two or items‚ which compares qualities of many items. However‚ participants may become careless using this scale‚ causing
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Vocabulary Exercise: Matching LLC-Provides an interface to the upper layers MAC- Controls the placement of a frame on the medium LLC-Remains relatively independent of the physical equipment MAC-Adds a frame delimiter MAC-Provides a unique source and destination address Concept Questions 1. The success of Ethernet is due to the following factors: • Simplicity and ease of maintenance • Ability to incorporate new technologies • Reliability • Low cost of installation and upgrade 2. Data
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1. Why do you think Red Lobster relies so much on Internet surveys to track customer opinions‚ preferences‚ and criticisms? What are the advantages of online questionnaires versus traditional surveys conducted over the phone or through the mail? Red Lobster relies on Internet surveys because the online population continues to grow and most customers don’t want to complete surveys during their lunch or dinner. The advantages of online questionnaires are the real-time reporting; having reduced costs
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CHAPTER 5 Merchandising Operations and the Multiple-Step Income Statement ANSWERS TO QUESTIONS 1. (a) Disagree. The steps in the accounting cycle are the same for both a merchandising company and a service company. (b) The measurement of income is conceptually the same. In both types of companies‚ net income (or loss) results from the matching of expenses with revenues. 2. The components of revenues and expenses differ as follows: | | Merchandising | | Service | RevenuesExpenses
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2) 1) D 2) A 3) D 4) B 5) A 3) b) The types of risk indicated by this situation are systems risk‚ and legal and regulatory risks. c) I would recommend background checks on employees‚ segregation of duties‚ and physical security. 6) A. Conducting surprise cash counts- safeguarding assets B. Creating a policy manual-encouraging compliance C. Creating separate departments for purchasing inventory a d receiving inventory-promoting operational efficiency D. Deleting and employee’s
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Applied Problems from Chapter 8 and 9 Marquita B. Mouton BUS 640 Managerial Economics Charles Fanning December 6‚ 2010 Applied Problems from Chapters 8 and 9 The application of material is the true test of knowledge. With the help of the concepts and theories learned from Chapter 8 and 9‚ this paper will answer the second applied problem from Chapter 8 and the second and fourth applied problems from Chapter 9. Chapter 8 At a management luncheon‚ two managers were overheard arguing
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Chapter 1 The Government and Not-For-Profit Environment TRUE/FALSE (CHAPTER 1) 1. The main objective of a typical governmental or not-for-profit entity is to earn a profit. 2. A government’s budget may be backed by the force of law. 3. Governmental entities have no need for an accounting system. 4. A government’s internal managers rely on general purpose financial statements for a considerable amount of information about their government. 5. Governments and not-for-profits
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toChapter 9 1. How well does Atticus feel he should defend Tom Robinson? Is it usual for (white) lawyers to do their best for black clients in Alabama at this time? 2. Scout and Jem have “mixed feelings” about Christmas? What are these feelings and why? 3. Uncle Jack Finch tells Scout that she is growing out of her pants. What does this mean and why might he say it? 4. When Francis talks to Scout he reveals an unpleasant feature of Aunt Alexandra. What is this? 5. Does Scout learn anything
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Chapter 1 Cost Accounting: Information for Decision Making Solutions to Review Questions 1-1. Financial accounting is designed to provide information about the firm to external users. External users include investors‚ creditors‚ government authorities‚ regulators‚ customers‚ competitors‚ suppliers‚ labor unions‚ and so on. Cost accounting systems are designed to provide information to internal users (managers). This difference is important‚ because it affects the design of the systems. Financial
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