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
