Archives: Quiz

People belonging to the _____ category often spent more time in singles bars and had more casual sex than their counterparts in the other divorce categories. A.libertine B.defeated C.seekers D.competent loners Answer: _____, a mammalian hormone that also acts as […]

In 1965, the federal government began an effort to break the cycle of poverty and poor education for young children in the United States through: A. the Maria Montessori Program. B. Emancipation Undertaking. C. the Reggio Emilia Project. D. Project […]

According to evolutionary theory, natural selection is linked to _____, which is present in the earlier part of adulthood. A.reproductive fitness B.neurogenesis C.cognitive and perceptual fitness D.muscular and skeletal strength Answer: According to a study, maltreated young children in foster […]

During the fourth week of prenatal development, the urogenital system becomes apparent, and _____ emerge. A. fingernails and toenails B. hair and eyelashes C. arm and leg buds D. eyes and eyelids Answer: The young-old are people who are between: […]

According to Erikson, the positive resolution of which developmental stage culminates in existential identity in old age? A.Generativity vs. stagnation B.Industry vs. inferiority C.Integrity vs. despair D.Intimacy vs. isolation Answer: When people become parents through pregnancy, adoption, or step-parenting, they […]

Which of the following is true of the effects of aging on human sexual performance? A.Orgasm becomes less frequent in females with age, occurring in every second to third attempt rather than every time. B.More direct stimulation usually is needed […]

Except for the sperm and the egg, all cells in the human body have _____ chromosomes. A.10 B.32 C.23 D.46 Answer: Which of the following is an example of implicit memory? A.Being at a grocery store and remembering what an […]

Baby Kendra, who is 6 days old, is presented with two breast pads. One comes from her mother, and the other has not been used. Which one will Kendra probably prefer? A. Kendra will probably not show any preference. B. […]

The poor are the majority in nearly one of every _____ nations of the world. A. five B. ten C. two D. eight Answer: In the Strange Situation, Latoya basically ignored her mother, was not upset when she left the […]

Which of the following statements is true about international transfer pricing? A. It is a violation of the Foreign Corrupt Practices Act. B. It is accomplished using guidelines set up by the FASB. C. It can be used to minimize […]

What is a “greenfield” investment? A. Farm land held for speculation B. Foreign direct investment whereby a new facility is constructed abroad C. Purchasing an existing facility as a foreign direct investment D. A foreign investment that has been approved […]

What is a key objective of a company’s performance evaluation system? A. To determine how much to pay executives in bonuses and other compensation B. To ensure that the domestic and foreign operations are achieving their objectives C. To control […]

The balanced scorecard includes non-financial measures of performance with the financial measures of performance traditionally used. Which of the following are included in the balanced scorecard? A. Customer satisfaction B. Internal business processes C. Innovation and learning D. All of […]

According to legitimacy theory, corporate social reports: A. capture the impact of culture on the annual reports. B. is a means to deal with a firm’s exposure to political, economic, and social pressures. C. is in response to the stakeholders […]

Which of the following should NOT be included in implementing performance evaluation systems? A. Feedback and review B. Fair and achievable measures C. Understandability D. Changing systems annually Answer: How is a foreign subsidiary different from a foreign branch of […]

What is an advance pricing agreement? A. A transfer price that is negotiated between two divisions of a decentralized organization B. A transfer pricing method accepted by the IRS before an intercompany transaction is completed C. A contract between a […]

Blanco Chemical Company spent €15,000,000 in development efforts to create a fertilizer for which it was able to obtain a patent; however, the expected distribution costs make it infeasible to market the chemical in the foreseeable future. According to IAS […]

Under IFRS 2, with respect to choice-of-settlement share-based payments, if the supplier chooses the cash settlement, the entity is deemed to have issued a compound financial instrument consisting of debt and equity. When cash is received, how does the supplier […]

Why must the two-transaction perspective be used for recording foreign currency transactions under U.S. GAAP? A. The two-transaction perspective is required under IFRS. B. U.S. GAAP requires conservatism in financial reporting. C. All other methods are excessively complicated to use […]

Which of the following is the role of a performance evaluation system in a multinational corporation? A. Monitor organizational effectiveness B. Identify areas that need improvement C. Assess how well division managers are doing D. All of the above Answer: […]

Under FASB ASC 830, Foreign Currency Matters, what group is responsible for determining the functional currency of a foreign subsidiary for many cases? A. Financial Accounting Standards Board B. International Accounting Standards Board C. Securities and Exchange Commission D. Parent […]

What is the likely outcome of using performance measures that subsidiary managers perceive to be unachievable? A. Frustrated managers B. Diligent attention to operational efficiency C. Success D. Optimal decision-making Answer: What is another name by which corporate social reporting […]

Johnson Ltd. determined that the net present value of an investment in technological improvements at its plant in France would be €10,000,000 if pending litigation was resolved in the company’s favor and would be €2,000,000 if the courts ruled against […]

Under what condition does the IRS consider the resale price method acceptable as a transfer price? A. The subsidiary is a foreign controlled corporation. B. The related party is merely a distributor of finished goods. C. The divisions are part […]

What must large Japanese corporations report for years ending after 2004 due to recent amendments to the Japanese commercial code? A. Statement of changes in financial position B. Consolidated financial statements C. Retained earnings statement D. Cash flow statement Answer: […]

In following the international norm concerning tax jurisdiction, how would double taxation be eliminated? A. The subsidiary’s home country would allow tax credits for taxes paid to the parent’s home country. B. The parent company’s home country would allow tax […]

Which of the following is NOT a factor influencing the probability that an auditor will detect an accounting error? A. Competence of the auditor B. Quality review and monitoring C. Financial reporting requirements D. Independence of the auditor Answer: Which […]

What is one thing that few companies tend to report on in their corporate social report disclosures? A. International disaster response B. The risk of legal action or business disruptions caused by climate issues C. The level of GHG reduction […]

Which of the following statements is true about U.S. taxation of foreign subsidiaries? A. The U.S. income taxes income generated by subsidiaries incorporated in foreign countries. B. U.S. multinationals do not pay tax on their worldwide income if incorporated in […]

Auditors in the United Kingdom often include disclaimers of liability in their audit reports. According to the U.S. Securities and Exchange Commission, how effective is this approach to limiting civil liabilities? A. It will have no effect when included in […]

Which is NOT a common risk associated with local authorities’ scrutiny of a company’s transfer prices? A. Potential double taxation B. Uncertainty as to the group’s worldwide tax burden C. Problems in relationships with local tax authorities D. Discovery of […]

Under U.S. GAAP, when new debt is issued for old debt: A. extinguishment costs are deferred and amortized over the term of the new debt. B. debt extinguishment costs are expensed as incurred. C. modification costs are amortized over the […]

What is the basis for Morgan Stanley Dean Witter’s “Apples to Apples” system for financial statement analysis? A. Adjustments needed to compare companies within a single country B. Adjustments needed to compare international companies within specific industries C. Adjustments needed […]

What does G3 represent? A. An annual summit of countries committed to the reduction of GHGs B. The third type of GHG C. The United States, Canada and Mexico D. The third generation of the GRI’s Sustainability Reporting Guidelines Answer: […]

In what countries would one expect auditing standards to evolve based on the needs perceived by the auditing profession? A. Code law countries B. Members of the European Union C. Countries that follow common law D. Countries with strong accounting […]

The Canadian Institute of Chartered Accountants (CICA) has taken a principles-based approach to auditor independence, whereas the Federation des Experts Comptables Europeens (FEE) has taken a conceptual approach. What is the difference? A. The principles-based approach has been effective, but […]

Privatization of Mexican businesses has been encouraged by: A. North American Free Trade Agreement (NAFTA). B. governmental attempts to improve long-term economic growth. C. loosening restrictions on foreign investment. D. All of the above Answer: What would be a logical […]

The AZ Company manufactures kitchen utensils. The company is currently producing well below its full capacity. The BV Company has approached AZ with an offer to buy 20,000 utensils at $0.75 each. AZ sells its utensils wholesale for $0.85 each; […]

An operating unit of an organization is called an investment center if it is responsible A. only for costs. B. only for revenues. C. for costs and revenues. D. for investments in assets. Answer: Chipper Division of Acme Corp. sells […]

QC Enterprises quality control report for August contains the following items. What would be the total of the external failure costs on the August quality control report for QC Enterprises? A. $70,000 B. $110,000 C. $120,000 D. $140,000 Answer: The […]

The process of creating a formal plan and translating goals into a quantitative format is (CMA adapted) A. budgeting. B. benchmarking. C. cost-benefit analysis. D. value-added analysis. E. activity-based costing. Answer: BC Enterprises’ quality control report for August contains the […]

The Richburn Manufacturing Company increased its merchandise inventory by $17,000 over the year. The company also granted its customers more liberal credit terms which increased the accounts receivable by $37,500. Sales were $975,000 and the accounts payable decreased by $27,500. […]

Which of the following methods provides no data for service departments to monitor each other’s costs? A. Direct method. B. Reciprocal method. C. Step method. D. All three methods, Direct, Reciprocal, and Step, provide data for monitoring costs. Answer: Controllable […]

Which one of the following will not occur in an organization that gives managers throughout the organization maximum freedom to make decisions? (CMA adapted) A. more effective solutions to operational problems B. individual managers regarding the managers of other segments […]

The following information has been gathered for the GHI Manufacturing Company for its fiscal year ending December 31: What is the predetermined manufacturing overhead rate assuming direct labor cost is used as the activity base? A. 4% B. 47.2% C. […]

Lombard Carts produces two models of push carts, the Standard and the Deluxe. Data on operations and costs for the month are: Required: Compute the total cost for each model, assuming Lombard Carts uses: (a) Direct labor hours to allocate […]

Given the following information, compute the total number of units for the period. A. 360 B. 432 C. 640 D. 840 Answer: Using beginning balances for the investment base in computing return on investment (ROI) might encourage managers to acquire […]

A company’s break-even point will not be changed by: A. a change in total fixed costs. B. a change in the number of units produced and sold. C. a change in the variable cost ratio. D. a change in the […]

The following selected data were taken from the books of the Bixby Box Company. The company uses job costing to account for manufacturing costs. The data relate to June operations. A) Materials and supplies were requisitioned from the stores clerk […]

Level return on investments (ROI) over the life of a long-term project is more likely when ROI is computed using A. historical costs and net book values. B. historical costs and gross book values. C. current costs and net book […]