Multiple choice

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1.Borden Enterprises uses standard costing. For the month of April, the company reported the following data:

-Standard direct labor rate: $10 per hour

-Standard hours allowed for actual production: 8,000 hours

– Actual direct labor rate: $9.50 per hour

-Labor efficiency variance: $4,800 Favorable

The labor rate variance for April is:

A. $3,760 U

B. $3,760 F

C. $2,850 F

D. $2,850 

 

2.Mitchell Company had the following budgeted sales for the last half of last year:

Cash sales : July 50,000; August 55,000; September45,000; October 50,000; November 60,000; December 80,000

Credit Sales: july 150,000; August 170,000; September 130,000; October 145,000; November 200,000; December 350,000

The company is in the process of preparing a cash budget and must determine the expected cash collections by month. To this end, the following information has been assembled:

Collections on credit sales:

60% in month of sale

30% in month following sale

10% in second month following sale

Assume that the accounts receivable balance on July 1 was $75,000. Of this amount, $60,000 represented uncollected June sales and $15,000 represented uncollected May sales. Given these data, the total cash collected during July would be:

A. $150,000

B. $235,000

C. $215,000

D. $200,000

 

3.Dengel Inc. is working on its cash budget for November. The budgeted beginning cash balance is $24,000. Budgeted cash receipts total $177,000 and budgeted cash disbursements total $167,000. The desired ending cash balance is $50,000.

To attain its desired ending cash balance for November, the company needs to borrow:

A. $0

B. $16,000

C. $50,000

D. $84,000

 

4.Dengel Inc. is working on its cash budget for November. The budgeted beginning cash balance is $24,000. Budgeted cash receipts total $177,000 and budgeted cash disbursements total $167,000. The desired ending cash balance is $50,000.

The excess (deficiency) of cash available over disbursements for November will be:

A. $34,000

B. $201,000

C. $10,000

D. $14,000

 

Multiple choice

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Question 1 

Which of the following statements is incorrect?

Basing one’s behavior on the adage, “Do unto others as you would have them do unto you,” is part of Kantian ethics. 

An ethical theory that says each person is presumed to have entered into an agreement with all others in society to obey moral rules that are necessary for people to live in peace and harmony is called Social Contract ethics. 

A doctrine that says that a corporation should consider its presence in the community and society and the effects its actions have on persons or groups other than the shareholders is called Corporate Social Responsibility. 

A theory of social responsibility that says that business must solve global problems such as poverty and disease is called Legal Nonfeasance. 

   

Question 2 

The doctrine that holds that business has an obligation to generally do good charitable deeds for society is:

Moral minimum 

Maximizing profits 

Social responsibility 

Corporate legal status. 

 

Question 3 

Maria owns her own business and has just attended a cash flow management seminar where it was suggested the businesses should delay paying their suppliers as long as absolutely possible even if doing so violates the stated payment terms. Maria decides to continue paying her supplies on time in accordance with their payment terms because Maria would like her customers to pay her on time. Maria has reached her decision primarily in accordance with:

Ethical relativism 

Utilitarianism 

Corporate social responsibility 

Kantian ethics. 

 

Question 4 

Which of the following statements is most accurate regarding the relationship of law and ethics?

The legal requirement will almost always be the same as the ethical requirement because the law is equivalent to the ethical standards. 

In some cases ethics will require a higher standard of conduct than the law, but never the opposite. 

In some cases the law will require a higher standard of conduct than ethics, but never the opposite. 

Depending on the circumstances, the law can require a higher, lower, or the same standard of conduct as ethics demands.

 

Multiple choice

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Question 1 

Engel Tool Company’s decision-makers view a particular risk in the use of the company’s product as “open and obvious.” Continuing to market the product without telling consumers of the risk could be best justified from a perspective of

Aristotle’s Virtue Ethics 

Kantian ethics 

Natural Law theory 

Utilitarian ethics. 

   

Question 2 

Fine Clothes Company buys clothing assembled by Gamma, Ltd, a foreign firm that employs young children for long hours and low pay. Gamma’s nation does not enforce its child labor laws. Human International Politics (HIP), a political activist organization, discovers Fine Clothes’ connection to Gamma and plans to reveal this information. Before HIP does so, however, Fine Clothes publicly releases the information itself, states that it is “shocked and disappointed” by Gamma, and announces that it is severing its relationship with Gamma. Fine Clothes adroitly publicizes its action in its advertising, and the company’s sales and profits increase, apparently as a direct result. From an ethical perspective, Fine’s conduct can best be characterized as:

Legal, moral, and socially responsible 

Ethically egoistic 

Immoral since most advertisers usually misrepresent things 

In conformity with Kantian ethics. 

  

Question 3 

Today, the term “corporate governance” encompasses:

Legal restrictions on corporate behavior, particularly from the Sarbanes-Oxley Act. 

Moral restrictions on corporate behavior, particularly from company codes of ethics. 

A societal expectation that a corporation today must be a “socially responsible” one. 

All of the above. 

   

Question 4 

A business that continues to operate its domestic factories in order to avoid layoffs rather than shift its production to lower cost facilities overseas is most directly applying which value?

Legal positivism 

Profit maximization 

Stakeholder interests 

Moral Heroism.

 

Multiple choice

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1. Sara enters an agreement with Darryl in which Darryl agrees to purchase a vacuum cleaner from Sara. Darryl signs a valid promissory note in favor of Sara, agreeing to pay $1,500 within 12 months. To close the sale, Sara misleads Darryl into believing that the vacuum cleaner is absolutely guaranteed to remove 100% of all dust particles in the home or he can be released from the promissory note, or get his money back if he has already paid the promissory note in full. In fact, no such money-back guarantee exists, and the vacuum cleaner doesn’t remove 100% of all dust particles in Darryl’s home. Twelve months later, Darryl refuses to pay the balance due on the promissory note. Which one of the following defenses may Darryl successfully raise to avoid payment of the note? 

A. Forgery 

B. Material alteration 

C. Fraud in the inducement 

D. Fraud in the execution 

 

2. Leroy writes a 450 check made payable to “Cash,” and gives the check to Laurie. Which one of the following best describes what has happened? 

A. transfer by assignment 

B. Taking for value 

C. Transfer by negotiation 

D. Transfer to a holder in due course 

 

3. Janice gives Chandler a promissory note made out in her favor, signed by Joey for $1,000. When the note comes due, Joey asserts a personal defense to avoid liability on the note. Chandler isn’t a holder in due course, and thus doesn’t benefit from the protections afforded a holder in due course, because Chandler 

A. did not take the note in good faith. 

B. should have known a defense existed to the note. 

C. should have known the note would be dishonored. 

D. did not take the note for value. 

 

4. Jacobs arranged for his utility bill to be paid by automatic draft from his checking account. One month later, Jacob’s utility bill tripled in amount from the month before, even though Jacob knew that he had used less electricity than the month before. Because Jacob believed the utility company his bank, five days before the draft was scheduled to be deducted, to refuse payment on the draft. The bank paid the draft. The bank’s payment likely violated which one of the following laws? 

A. Federal Trade Commission Act of 1914 

B. Electronic Fund Transfer Act of 1978 

C. Banking Act of 1999 

D. Electronic Communications Privacy Act of 1986 

 

Multiple choice

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1. Eagle Manufacturing, Inc., contracted with Digital Repair Services to maintain Eagle’s computers. A “Liquidated Damages Clause” provides that Digital will pay Eagle $500 for each day that Digital is late in responding to a service request. If Digital is three days late in responding, and Eagle sues to enforce this clause, Eagle will

A) lose, because liquidated damages clauses violate public policy.

B) lose, unless the liquidated damages clause is determined to be a penalty.

C) win, because liquidated damages clauses are always enforceable.

D) win, unless the liquidated damages clause is determined to be a penalty.

 

2. Fast Ed, a stock trader, engages in a “pump and dump” scheme whereby he goes into Internet chat stock rooms and “hypes,” praises, and extols certain stocks he owns. He says such things as: “This is the best stock ever.” “This stock is great and will make us a fortune.” “You MUST own this stock in your portfolio.” He does repeatedly and uses several aliases. Then, when Fast Ed has “pumped up” the price of the stock to a certain level, he calls his broker to sell, that is, to “dump,” the stock. He makes a lot of money with this scheme. Fast Ed is likely acting:

A) Illegally pursuant to the common law tort of deceit since he did not disclose the aliases.

B) Illegally pursuant to the Securities Act of 1934 for engaging in stock manipulation.

C) Legally since he was careful not to make any misrepresentations of material fact regarding the stock, and just used “puffing” or sales talk.

D) Legally since everyone knows not to put any credence behind what people say in chat rooms, especially about stocks, and thus “Let the buyer beware.”

 

3. Stan buys a CD player from Tom, his neighbor, who agrees to keep the player until Stan picks it up. Before Stan can get it, the player is stolen. The loss is suffered by

A) Stan only.

B) Tom only.

C) Stan and Tom.

D) none of the above.

 

4. Tech, Inc., sells its brand-name computer equipment directly to its franchised retailers. Depending on how existing franchisees do, Tech may limit the number of franchisees in a given area to reduce intrabrand competition. Tech’s restriction on the number of dealers likely is

A) a per se violation of the Sherman Act.

B) exempt from the antitrust laws.

C) subject to continuing review by the appropriate federal agency.

D) subject to the rule of reason. 

 

Multiple choice

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1.  Which of the following would most likely involve ethical concerns? 

A. Overstating an expense report.

B. Forecasting sales for the next year.

C. Developing the marketing plan for the next year.

D. Improving working conditions.

 

2.  Jake recently invested in a Hottie Potatee franchised business that serves potatoes with all the trimmings. The business needs lots of employees in order to operate effectively. He told you that if he calls the business once each day and tells the employees that he is on his way there, they will be on their best behavior. As he tells it, “It’s okay if I really don’t make it there, after all, I’m the owner and the business should be able to run without micromanagement.” As a recent student of business ethics, you remind Jake that: 

A. he should post a code of ethics that stipulates how each employee should work and how each employee should treat the customers.

B. he should create a survey for customers to respond to, and then he will always know if his employees are productive.

C. employees usually take-on the behavior of their leaders. If integrity is not important to the owner, it may not be important to employees.

D. “No good deed goes unpunished.” Even though he may think he is doing a good thing, his employees will not appreciate the fact that he is working very hard on his business, off-site. Their expectations are that he should be there, working side by side with them.

 

3.  A(n) ________-based ethics code emphasizes the prevention of unlawful behavior by increasing control and penalizing wrongdoers. 

A. legal

B. corporate responsibility

C. compliance

D. integrity

 

4.  Which of the following terms describes someone who reports illegal or unethical behavior? 

A. whistleblower

B. horn blower

C. watch tower sentinel

D. integrity watchdog

 

Multiple choice

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 1. When Kevin started his car in the parking lot, he also turned on the radio to his favorite station. As he entered the street next to the campus, he turned the radio up due to the increased background noise in the car. Entering the highway, he again increased the volume until he could hear the music clearly. Driving into the driveway at home, he saw his mother watering her roses in the front yard. “Kevin! Turn down that radio. We are going to be deaf before you are twenty five!” she instructed as he open the car door. He had not noticed how very loud the radio was until she mentioned it. Kevin had experienced:

A. absolute threshold constancy.

B. Weber’s Law.

C. sensory adaptation.

D. sensory deprivation.

 

2. Classical and operant conditioning both result in learning, but are quite different in that:

A. classical conditioning is an artificial process, while operant conditioning is only found outside of the laboratory.

B. classical conditioning tends to increase behavior, while operant conditioning decreases behavior.

C. classical conditioning broadens the types of responses, while operant conditioning may increase or decrease responses.

D. classical conditioning is an involuntary process, while operant conditioning is voluntary.

 

3. “Tell me how to put it together!” Kent demanded. “I can’t.” Alvin complained. “I know how to do it, but I can’t just tell you or write it down. It just all comes together one step after another.” Alvin is attempting to explain:

A. the importance of timing in semantic memory.

B. the difference between declarative and procedural memory.

C. the primacy and recency effect.

D. the effect of aging on memory.

 

4. The disadvantages of group intelligence tests include that:

A. all test takers must wait until all registered individuals arrive.

B. proctors are often inconsistent and allow some test takers a longer time to respond or to take testing breaks.

C. some test takers talk to themselves and disturbs others.

D. some test takers are more motivated to perform at their highest level in a one-one testing situation.

 

Multiple Questions Answers

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1. Which angle measure is consistent with allof the following criteria?
(i) The reference angle is 40°.
(ii) The angle is more than one revolution.
(iii) The angle’s terminal side is in Quadrant II.
(iv) The angle isn’t positive.

A. –220°

B. 500°

C. –500°

D. –580°

 

 

2. 

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A. x = 12

B. x = 10

C. x = 15

D. x = 16

 


7. Solar panels are used to convert energy from the sun into electricity. To get the best result, the panel has to be perpendicular to the sun’s rays; in other words, angle θ has to be a right angle. What should the height, h,be if θ is a right angle, a solar panel is 12 ft long, and the sun’s angle of elevation is 38°?

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A. 9.4 ft

B. 15.4 ft

C. 7.4 ft

D. 9.5 ft

 


8. When viewing Angel Falls (the world’s highest waterfall) from Observation Platform A, located on the same level as the bottom of the waterfall, we calculate the angle of elevation to the top of the waterfall to be 69.30°. From Observation Platform B, which is located on the same level exactly 1000 feet from the first observation point, we calculate the angle of elevation to the top of the waterfall to be 52.90°. How high is the waterfall?


A. 1,322 ft

B. 2,643 ft

C. 2,646 ft

D. 998.5 ft

 


10. A wheel 5.00 ft in diameter rolls up a 15.0° incline. How far above the base of the incline is the top of the wheel after the wheel has completed one revolution?

 

A. 9.07 ft

B. 4.07 ft

C. 13.1 ft

D. 8.13 ft

 

12. Find the height of the Barrington Space Needle if the angle measured from the ground 1000 ft (measured to the nearest foot) from the point on the ground directly below the top of the needle is 58.15°.


A. 1,610 ft

B. 621.2 ft

C. 527.7 ft

D. 1,895 ft

 

13. A stairway must be built to a deck that is 20 feet above ground level. To the nearest half foot, how far from the base of the deck, on ground level, should the beginning of the stairway be placed so that the stairway forms a 60° angle from the ground?


A. 12 ft

B. 35 ft

C. 11.5 ft

D. 11 ft

 

15. In a right triangle with g the right angle, b = 86.5 and c = 125.8. What is β ?


A. 43.2°

B. 46.4°

C. 43.4°

D. 46.6°

 

17. Convert 21°50″ to decimal degrees. Round your answer to the nearest thousandth.


A. 21.833°

B. 21.014°

C. 21.8333°

D. 21.0138°

 

 

Multiple Questions Answers

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1. Dickie “Mulehorse” Nixon was the star fullback for Whittier College football team. After missing two practices, Nixon was “dropped” from the team by Archie Cox, the head football coach. Following his dismissal, Nixon met with Cox and asked if he could rejoin the team. Cox told Nixon that he was despised by the other players and under no circumstances could he return to the team. As Nixon was leaving Cox’s office very dejected, the coach then said to him, “Hope you decide to transfer, Mulehorse, everybody hates your guts around here”. Later that same evening, Nixon wrote a suicide note in which he stated, “Coach Cox is responsible for my despondency. If I can’t play football for Whittier, I don’t want to live.” After swallowing a bottle of Quaalude barbiturates, Nixon fell unconscious in his dormitory room. Moments later, Pat Checkers, Nixon’s roommate, entered the room and saw his limp body on the floor. Checkers read the suicide note and then attempted to administer aid.
A. prevail, if Cox intended to cause him to suffer emotional distress
B. prevail, because Cox’s remark did in fact cause Nixon to suffer emotional distress
C. not prevail, because Nixon’s drug overdose resulted from his own voluntary act
D. not prevail, unless Cox knew that Nixon was an extremely sensitive person

2. Dave Schultz was a professional hockey player for the Philadelphia Ruffians. One evening in a game between the Ruffians and the Pittsburgh Eskimos, Schultz got hit in the face with a hockey puck. Schultz was rendered temporarily unconscious and had to be taken to the dressing room on a stretcher. While in the dressing room, Schultz regained consciousness but he was in excruciating pain and discomfort. The puck fractured
Schultz’s nose, blackened his eyes and knocked out three teeth. 
As the team physician administered medical assistance, Bobby Clarke, the Ruffians’ trainer, entered the dressing room with his camera. Clarke often took pictures of the Ruffian players for his personal collection. Clarke placed a pillow under Schultz’s head and was about to take his picture when the supine athlete protested and told Clarke “get the hell out of here, I don’t want my picture taken.” Clarke took two pictures anyway.
If Schultz brings suit for tortious battery against Clarke, the plaintiff will likely
A. succeed, if Clarke’s act was offensive to Schultz
B. succeed, if Clarke’s act caused Schultz to suffer embarrassment or humiliation
C. not succeed, because Schultz did not suffer any injury
D. not succeed, because Clarke regularly took pictures of Ruffian players

3. If Patty initiates a suit against Marty to recover damages for her broken arm, Patty will
A. recover for assault only
B. recover for battery only
C. recover for assault and battery
D. not recover

4. If Bob sues Carl, Dave, and Ed for battery due to being hit by the rock he will:
A. recover. 
B. not recover, because he does not know who threw the stone that hit him. 
C. not recover, because he suffered no injury.
D. not recover, because he is presumed to have consented. 

Multiple choice

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1. Brenda wrote a check to Kelli for $50, to be drawn from her account at Beverly Bank. Beverly Bank refused to cash the check. Which one of the following correctly states Brenda’s liability in this situation? 

A. Brenda is secondarily liable if she is given timely notice of the dishonor. 

B. Brenda is primarily liable if she is given timely notice of the dishonor. 

C. Brenda is secondarily liable regardless of any notice of the dishonor. 

D. Brenda is primarily liable regardless of any notice of the dishonor. 

 

2. Jayla and Jamal enter an agreement in which Jamal agrees to pay Jayla $500 over the next 3 months for a new stereo. Jamal calls Jayla on the phone and promises to pay her the entire $500 no later than 90 days from that date. This agreement fails to constitute a negotiable instrument, because negotiable instruments must 

A. be payable on demand or at a definite time. 

B. state an unconditional promise or order to pay. 

C. state a fixed amount of money. 

D. be in writing. 

 

3. Liza purchased a car from Chad, and signed a promissory note in Chad’s favor promising to pay $1,000 for the car within 1 year. Despite Chad’s written and oral promises about the car’s condition. Liza had to have the car in the shop for repairs the entire first year. Liza refused to pay the balance due under the promissory note. Which one of the following is Liza’s best defense to avoid liability? 

A. Illegality  

B. Fraud in the inducement 

C. Breach of warranty 

D. Fraud in the execution 

 

4. Lee offered Beth a promissory note signed by Joe in favor of Lee paying $10,000 in 6 months, in exchange for $1,000 cash. Beth readily accepted the deal. Beth may not be classified as a holder in due course because Beth 

A. did not give value for the note. 

B. did not take the note in good faith. 

C. may have had notice of a defense against the note. 

D. may have had notice that the note would be dishonored.