CBK Test

2/10 net 30

2% discount if paid in 10 days. otherwise pay in 30 days

buyers and sellers are often separated by thousands of miles, special precautions are taken to ensure performance under the contacts, sellers want to avoid delivering goods for which they may not be paid.

A Specific Letter of credit is useful in international transactions because

8

A discrete random variable has a mean of 400 and a variance of 64. What is the standard deviation

french napolenoic law

A legal system based upon rules or codifications rather than operative principles is an example of

for a reasonable time

An agreement to deliver water bottles to a customer's home that does not indicate the duration has an agreement that is

is the proposed action legal? is the proposed action ethical? is the proposed action profitable?

As a director of a large corporation, Paul will most likely ask

true

By studying a person's Utility Curve, one can determine whether the individual is a risk seeker, risk avoider, or is indifferent to risk

14

Daily demand for newspapers for the last 10 days has been as follows: 12, 13, 16, 15, 12, 18, 14, 12, 13, 15 (listed from oldest to most recent) forecast sales for the next day using a two-day moving average

corporate ethics, public opinion, and csr

Environmental groups in the United States influence

buyer is required to pay a reasonable price for the goods.

If a contract for the sale of goods does not state the price, the

damages for direct loss

If the harmed person does not attempt to mitigate his damages, recovery is limited to

levels for finished goods are a direct function of demand, includes raw materials, work-in-process, and finished goods, is any stored resource used to satisfy current or future need, and needs from raw materials through finished goods can be reasonably determined, once finished goods demand is determined

Inventory

184 pizzas

Judith Thompson is the manager of the student center cafeteria. She is introducing pizza as a menu item. The pizza is ordered frozen from a local pizza establishment and baked at the cafeteria. Judith anticipates a weekly demand of 10 pizzas. The cafeteria is open 45 weeks a year, 5 days a week. The ordering cost is $15 and the holding cost is $.40 per pizza per year. What is the optimal number of pizzas Judith should order?

$720

Mark Achin sells 3,600 electric motors each year. The cost of these is $200 each, and demand is constant throughout the year. The cost of placing an order is $40, while the holding cost is $20 per unit per year. There are 360 working days per year and the lead-time is 5 days. If Mark orders 200 units each time he places an order, what would his total ordering cost be for the year

$1,200

R. C. Barker makes purchasing decisions for his company. one product that he buys costs $50 per unit when the order quantity is less than 500. When the quantity ordered is 500 or more, the price per unit drops to $48. The ordering cost is $30 per order and the annual demand is 7,500 units. The holding cost is 10% of the purchase cost. If R.C. orders 500 units each time he places an order, what would the total annual holding cost be?

have a defense to trespass

Ralph comes onto Garzon's property to help Tim who has fallen and struck his head. Ralph may

7

Sales for boxes of Girl Scout cookies over a 4-month period were forecasted as follows: 100, 120, 115, and 126. The actual results over the 4-month period were as follows: 110, 114, 119, 115. What was the MAD of the 4-month forecast?

state of florida, US constitution, and its charter

Smalltown is a small municipality within the state of Florida. Smalltown derives its lawful authority from

both criminal and civil wrongs

Statutes of limitations apply, for the most part, to

.900

Suppose that 10 golfers enter a tournament and that their respective skill levels are approximately the same. Six of the entrants are female and two of those are older than 40 years old. Three of the men are older than 40 years old. What is the probability that the winner will be either female or older than 40 years old?

both new and used goods

The Uniform Commercial Code concerns

english common law

The basis for the law system in the U.S. today has its origins in

the formula for conditional probability

The equation P(A/B)= P(AB)/P(B) is

breach

The failure to do what is called for by a contract is a

alt. 3

The following is an opportunity loss table alt 1- 0, 90, 85 alt 2- 50, 0, 110 alt 3- 75, 80, 0 which decision should be made based on the minimax regret criterion?

compensatory damages

The money damages recoverable when a contract has been breached and the other party suffered clear loss are considered

civil wrongs causing injuries to others not arising from breach of contract.

Torts are specifically

anticipatory repudiation

When a party states that performance will not be made before the actual due date, this is

there is a contract, but the conflicting terms cancel out

When it is clear that the parties intended to enter into contract, but a term in the acceptance conflicts with a term in the offer, then

Assault and battery, Slander, Wrongful interference with another's business rights

Which of the following are torts?

exponential smoothing

Which of the following is not classified as a qualitative forecasting model

The entire area under each of the curves equals 1

Which of the following is not true about continuous random variables?

marginal revenue equals marginal costs

a firm seeking to maximize economic profits should produce at the output at which

pharming

a hacker breaks into a DNS server and redirects all attempts to access a particular website to the hacker's spoofed site

ROA/(1-debt/assets)

according to dupont analysis, ROE consists of

profit margin X asset turnover

according to the dupont analysis, ROA consists of

an increase in US dollar exchange rate for australian dollars

assume there is an increased demand in US for Australian wines. if all other factors are held constant, this will result in

2.4

at a given sales level, a firm has a degree of operating leverage of 1.2 and a degree of financial leverage of 2.0. what is firm's degree of total or combined leverage

emotional appeal

attempts to stir up either negative or positive sentiments that can motivate purchase

display media

billboards

derived demand

business demand that ultimately comes from the demand for consumer goods

microprocessor's speed is determined by

cache size, clock speed, and word size

unsystematic risk

can be eliminated through diversification

freemium

cats and rates is a tablet game that allows players to be one of the other and try to outsmart their opponents. in order to win, the players need an occasional energy boost in the form of a nap, which is free, or the player can pay for cat treats or cheese nibbles for their cat or rat. what form of pricing is this

byte

collection of 8 bits

record

collection of data items in a relational database

file

collection of data that has a name and is stored in a computer

server farm

collection of servers

peripheral decives

components in a computer used to accomplish the input and output funcitons

none of the above

consider the following linear programming problem: maxmize 12X + 10Y subject to 4X + 3Y<_ 480 2X + 3Y <_ 360 all variables >_ 0 the maximum possible value for the objective funtion is

(50,0)

consider the following linear programming problem: minimize 20X + 30Y subject to 2X + 4Y <_ 800 6X + 3Y >_ 300 X, Y >_ 0 what is the optimum solution to this problem (X,Y)

convenience products

consumer products and services that customers usually buy frequently, immediately, and with minimal comparison buying effort

spreadsheet software can be used for

creating charts from data, preparing financial reports

customer evangelists

customers who make repeat purchases and tell others about their positive experiences with a product or service

just in time inventory system

decreases safety stock

first step in the marketing research process

defining the problem and objectives of the study

processes

despite being similar service establishments, McDonalds, Wendy's, and Burger King all prepare and deliver their hamburgers differently. which marketing mix does this fall under

behavioral segmentation

divides buyers into segments based on their knowledge, attitudes, uses, or responses concerning a product

market segmentation

dividing the market into distinct groups of buyers who have distinct needs, characteristics, or behavior and who might require separate products or marketing programs is part of this

prohibition of being tried twice for the same criminal offense

double jeopardy is

an increase in ROE

dupont analysis shows us that an increase in financial leverage for a profitable company will lead to

13% required rate of return

estimate the required rate of return on a company's stock given a stock price of $20 per share, an expected dividend of $2 per share at the end of the year, and a 3% dividend growth rate

13%

estimate the required rate of return on a company's stock given the firm's beta of 1.5, a market return of 10%, and a risk free rate of 4%

IP address

every computer on the internet has this

C++ and java

examples of high-level language

the average or expected monetary outcome of a decision if it can be repeated a large number of times

expected monetary value (EMV) is

consuming relatively more veggies and less junk food

if consumer concludes that the marginal utility of the last dollar spent on veggies exceeds the marginal utility of the last dollar spent on junk food, he will respond by

reduce aggregate demand by cutting gov spending or raising taxes.

if economy is experiencing an inflationary gap and gov wants to accelerate the adjustment to the long-run equilibrium through fiscal policy, it should

some firms exiting the industry, causing the demand curves of remaining firms to shift to the right

if firms in monopolistically competitive industry are operating with economic losses, over time we would see

a central bank affects the value of a currency by changing its foreign exchange reserves

in a fixed exchange rate system

price will increase and effect on quantity is indeterminable

in automobile industry, workers have just negotiated a new contract giving workers a large raise. There has also been an increase in the number of licensed drivers who are in the market for a new car. in market for automobiles, the effects that these changes will have on the equilibrium price and quantity include

expected service costs plus the expected waiting costs

in queing analysis, total expected cost is the sum of

industries that cannot compete with foreign competitors at this point in time, but will be able to once they gain some size and experience.

infant-industry argument for tariff protection is that tariffs should be imposed to protect from competition

viral marketing

infectious websites, e-mail messages, or other marketing events, such that customers/viewers want to pass news of them along to friends

customer-perceived value

is determined by a customer's evaluation of the benefits and costs of a market offering relative to those of competing offers

systematic risk

is non-diversifiable

common description of information

knowledge derived from data

business portfolio analysis

major activity in strategic planing whereby management evaluates the products and businesses that make up the company

HTML

most web pages are created using this programming language to describe the format of a web page

marginal utility declined as he consumed additional big macs

on hot summer day, construction worker enters Mcdonald's. He order first big Mac and consumes it in 3 minutes. orders second and consumes it in 10 minutes. only eats half of third in 18 minutes and throws rest away. manager offers him a fourth one for free and he says no thanks. why?

printers are

output devices, computer peripherals, capable of connecting to a USB port if they have a USB connector

federal open market committee

part of federal reserve system that determines monetary policy actions is the

realistic use for supercomputers

predicting weather

consumer products

products and services bought by final consumers for personal consumption

35.5150

refer to table. bags of chocolate candy are sampled to ensure proper weight. the overall average for the samples is 36 ounces. Each sample contains 8 bags. the average range is 1.3 ounces. the lower control chart limit for the sample averages would be

coupons

sales promotion tool

microprocessor

semiconducting device that contains all of the components of a CPU

login password

should not contain personal info such as birthdays

cost-plus pricing

simplest pricing method

the amount of time that an activity can be delayed without delaying the entire project

slack time in a network is

open source

source code of the program is available to public

inducing all members to limit their combined output and charge the same price

success of cartel rests upon

income statement

summarizes a firm's revenues, expenses, and profit during a specific period

increase aggregate demand, increase prices, and increase real GDP

suppose economy currently is in a recessionary gap. The Fed engages in expansionary monetary policy. The impact of this will be to

malware

term used to denote viruses, worms, and trojan horses

higher interest rates

the Fed engages in open-market operations and sells government securities. the result is

$12,500

the PV of a $1,000 perpetuity discounted at 8% is

$119

the future value of $100 today earning 6% for 3 years is

demographic environment

the marketing team of 7 star inc. a company manufacturing smartphones, is currently studying the size, density, location, age, and occupation of its target market. which environment is being studied in this scenario

lead-time

the point at which to reorder depends directly on which of the following

OC are increasing as the production of a good increases

the production possibilities curve bows outward because

bottom of the pyramid

the world's poorest consumers

compilers

translate high-level language programs into machine language programs

service intangibility

tristan and Juliet, a newly-married couple who intend to go to Egypt for their honeymoon, bought a Europe travel package on Jizo inc, an online travel site. as they have never seen Europe or used the services of Jizo before, they were largely dependent on other customers' feedback and signals for service quality. which characteristic of service is highlighted in this instance

individuals who own the resources

under market system, decision of resource allocation is made by

outsourcing

use of the outside companies to provide, support, and maintain information systems

businesses and governments

what entities are typically net demanders of funds in the us economy

call

what feature permits a bond issuer to repurchase bonds at a stated price prior to maturity

PV of all future cash flows

what is market value of financial asset

forward rate

what is the term used to describe a currency exchange rate with a future delivery date

customer-driving marketing

when customers don't know what they want or don't even know what's possible, this is the most effective marketing strategy

use a higher discount rate for the riskier project

when evaluating two projects with different risk levels, one way to account for this is to

inelastic

when total revenue and price are directly related, demand is

payback

which of the following capital budgeting techniques ignores the time value of money

A fax or e-mail does not constitute a written communication memorializing an oral contract

which of the following is false

it is difficult for a firm to enter or leave the market

which of the following is not a characteristic of a perfectly competitive market

foreign exchange

which of the following is not a commonly used method to expand a business internationally

both rich and poor people race the problem of scarcity

which of the following statements is true about scarcity

decrease in input costs

which of the following will shift the keynesian short-run aggregate supply curve to the right