Latest Updates to the BUS 475 Final Exam Guide
Updated study guide for the BUS 475 final exam.
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Latest Updates to the BUS 475 Final Exam Guide
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3) What effect do current technology changes have on managerial accounting?
A. Increase in product costs
B. Reduction of reporting costs of managerial accounting information
C. Creation of the middleman
D. Reduction of emphasis on the value chain
14) The cost principle is the basis for preparing financial statements because it is
__________?
A. an international accounting standard
B. a conservative value
C. the most accurate measure of purchasing power
D. relevant and objectively measured, and verifiable
16) Which of the following would be most likely to contribute to the breakdown of a car
tel in a natural resource (e.g., bauxite) market?
A. High compatibility of member interests
B. High prices
C. Unequal member ownership of the natural resource
D. Low price elasticity of demand
17) Assume oligopoly firms are profit maximizers, they do not form a cartel, and they ta
ke other firms' production levels as given. Then in equilibrium the output effect _______
___.
A. must balance with the price effect
Good Luck!
3) What effect do current technology changes have on managerial accounting?
A. Increase in product costs
B. Reduction of reporting costs of managerial accounting information
C. Creation of the middleman
D. Reduction of emphasis on the value chain
14) The cost principle is the basis for preparing financial statements because it is
__________?
A. an international accounting standard
B. a conservative value
C. the most accurate measure of purchasing power
D. relevant and objectively measured, and verifiable
16) Which of the following would be most likely to contribute to the breakdown of a car
tel in a natural resource (e.g., bauxite) market?
A. High compatibility of member interests
B. High prices
C. Unequal member ownership of the natural resource
D. Low price elasticity of demand
17) Assume oligopoly firms are profit maximizers, they do not form a cartel, and they ta
ke other firms' production levels as given. Then in equilibrium the output effect _______
___.
A. must balance with the price effect
B. must dominate the price effect
C. can be larger or smaller than the price effect
A. must balance with the price effect
D. must be smaller than the price effect
18) When, in a particular market, the law of demand and the law of supply both apply, t
he imposition of a binding price ceiling in that market causes quantity demanded to be _
_________?
A. equal to quantity supplied
B. greater than quantity supplied
C. double the quantity supplied
D. less than quantity supplied
20) If a binding price ceiling were imposed in the computer market, __________.
A. a shortage of computers would develop
B. the demand for computers would increase
C. the quality of computers would increase
D. the supply of computers would decrease
21) When a firm sells a good or a service, the sale contributes to the nation’s income __
________.
A. only if the buyer of the good or service is a household
B. whether the buyer of the good or a service is a household, another firm, or the
government
C. We have to know whether the item being sold is a good or a service in order to answ
er
the question
C. can be larger or smaller than the price effect
A. must balance with the price effect
D. must be smaller than the price effect
18) When, in a particular market, the law of demand and the law of supply both apply, t
he imposition of a binding price ceiling in that market causes quantity demanded to be _
_________?
A. equal to quantity supplied
B. greater than quantity supplied
C. double the quantity supplied
D. less than quantity supplied
20) If a binding price ceiling were imposed in the computer market, __________.
A. a shortage of computers would develop
B. the demand for computers would increase
C. the quality of computers would increase
D. the supply of computers would decrease
21) When a firm sells a good or a service, the sale contributes to the nation’s income __
________.
A. only if the buyer of the good or service is a household
B. whether the buyer of the good or a service is a household, another firm, or the
government
C. We have to know whether the item being sold is a good or a service in order to answ
er
the question
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Document Details
University
University of Phoenix
Subject
Business Management