Concordia University Department of Economics ECON 201 MIDTERM EXAMINATION AND ANSWERS Part I. Multiple Choice Questions. Circle the best answers. 1. When a choice is made‚ we call the value of the best alternative choice the a. Implicit choice. b. Accounting cost. c. Opportunity cost. d. Apparent cost. e. None of the above. 2. Which of the following statements is (are) normative? a. If income increases‚ sales of luxury goods will fall. b. When minimum wages are raised‚ unemployment
Premium Supply and demand
CHAPTER 11 Financial Reporting Concepts ASSIGNMENT CLASSIFICATION TABLE Study Objectives Questions Brief Exercises Exercises Problems Set A Problems Set B 1. Explain the importance of having a conceptual framework of accounting‚ and list the components. 1‚ 2 1 3 3 2. Identify and apply the objective of financial reporting and the underlying assumptions used by accountants. 3‚ 4‚ 5 2‚ 3‚ 6 1‚ 2‚ 4‚ 5‚ 6 1‚ 2‚ 4‚ 5 1‚ 2‚ 4‚ 5 3. Describe the fundamental and enhancing
Premium Generally Accepted Accounting Principles Balance sheet Revenue
Course: BMGT 110 WebTycho Section: C803‚ Spring 2014 Instructor: Elma Bukvic Jusic QUIZ 3 TRUE/FALSE QUESTIONS Please choose the correct answer to each of the following True/False questions by typing a “T” or “F” in the text form field next to each question. Each question is worth 5 points. 1. F (T/F) Price decreases become common during a product’s mature stage. 2. T (T/F) Packaging and labeling play a major role in a firm’s overall product strategy. 3. T (T/F)
Premium Public company Pricing Marketing
Pearson Assessment‚ formally know as Harcourt Brace Educational Measurement is a test publishing company that provides educational assessment assistance for grades K-12. They offer products and services for scholastic aptitude and achievement tests administered in school systems across the United States. Pearson Assessment furnishes catalogs that include descriptions of test‚ uses‚ cost‚ administration time‚ and other similar information that are useful to schools when selecting appropriate test
Premium Education Educational psychology Teacher
1. Question : (TCO F) For which situation(s) below would an organization be more likely to use a job-order costing system of accumulating product costs rather than a process costing system? Student Answer: A steel factory that processes iron ore into steel bars A factory that processes sugar and other ingredients into black licorice A costume maker that makes specialty costumes for figure skaters All of these Instructor Explanation: Chapter 3 Points
Premium Costs Cost accounting
1. Cash equivalents are short term investments that are converted into cash. Examples include money market funds‚ U.S. Treasury bills‚ and high-grade commercial paper. These items are combined with cash for the purpose of a balance sheet because cash equivalents are so similar to cash that they are combined. The cash equivalents are very safe‚ have a market value‚ and mature in 90 days of the date of acquisition. If they do not meet these requirements‚ they are to be listed as Marketable Securities
Premium Debt Security Bond
Business Programs Unit The University of Sydney Business School THE UNIVERSITY OF SYDNEY BUSINESS SCHOOL Today’s Lecture ›Unit Introduction - The teaching team - The ‘Zen’ questions ›Curriculum Overview ›Next week… ›The interactive BIZ QUIZ! ›Business Literacy test 3 1 3/3/2014 Unit Introduction The BUSS6000 teaching team Unit Coordinator Dr Helen Parker Lecturers Professor Marc Jones Stephen Chipkin Dr Zina O’Leary 5 Tutors Helen Parker Alexander
Premium Critical thinking Multiple choice Business
chemical structure of the drug and is generally not used due to its long and complicated name. Answer A a. Chemical Name b. Generic Name c. Official Name d. Trade Name 2. This name is established by the USAN (United States Adopted Names Council). Answer B a. Chemical Name b. Generic Name c. Official Name d. Trade Name 3. This name is “owned” by a drug company. Answer D a. Chemical Name b. Generic Name c. Official Name d. Trade Name 4. This
Premium Pharmaceutical drug Pharmacology Trademark
Economics 201 notes Chapter 1 : First Principles • Economics is science of decision making • individual choice is the basis of economics • methodology = cost-benefit analysis • If it does not involve choice‚ it isn ’t economics. • Resources (something used to produce something else) include capital like tools and equipment‚ land like natural resources and labor • Resources are scarce • Opportunity cost are all costs that you must give up to get it. • trade-off is the
Premium Supply and demand Economics Consumer theory
implied powers. b. enumerated powers. c. official powers. d. national powers. e. None of these answers is correct. Answer: a Page: 43 2. States utilize this power to protect the health and welfare of their residents. a. police powers b. enforcement powers c. military powers d. implied powers e. None of these answers is correct. Answer: a Page: 43 3. What term describes the arrangement where powers of the state and national governments are
Premium United States Constitution United States Congress