BUS 475 Final Exam - SET 1 / 100% correct answers / A+ Essay

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BUS 475 Final Exam - SET 1 / 100% correct answers / A+

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1) Which one of the following items is not generally used in preparing a statement of cash flows?

A. Adjusted trial balance

B. Comparative balance sheets C. Additional information D. Current income statement

2) One of Astro Company's activity cost pools is machine setups, with estimated overhead of $150,000. Astro produces sparklers (400 setups) and lighters (600 setups). How much of the machine setup cost pool should be assigned to sparklers?

A. $150,000 B. $60,000 C. $90,000 D. $75,000

3) Of the following companies, which one would not likely employ the specific
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The names given to these market structures are __________.

A. perfect competition and monopolistic competition B. duopoly and imperfect competition C. duopoly and triopoly D. monopolistic competition and oligopoly

16) Lekeisha's income exceeds her expenditures. Lekeisha is a __________.

A. borrower who demands money from the financial system B. borrower who supplies money to the financial system C. saver who supplies money to the financial system D. saver who demands money from the financial system

17) A tax on an imported good is called a __________.

A. supply tax B. trade tax C. tariff D. quota

18) Lucy starts her own psychiatric practice, but her expenditures to open the practice exceed her income. Lucy is a __________.

A. borrower who demands money from the financial system B. borrower who supplies money to the financial system C. saver who supplies money to the financial system D. saver who demands money from the financial system

19) One characteristic of an oligopoly market structure is:

A. firms in the industry have some degree of market power. B. firms in the industry are typically characterized by very diverse product lines. C. the actions of one seller have no impact on the profitability of other sellers. D. products typically sell at a price that reflects their marginal cost of production.

20) When, in a particular market, the law of demand and the law of supply both apply, the

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