Archives: Quiz

Which of the following is NOT an example of internal secondary data? a. Customer inquiries b. Customer complaints c. U.S. Department of Commerce reports d. Sales invoices e. Product registration card data Which type of research is typically carried out […]

Creating charts, graphs, images, diagrams and even word clouds that allow for better communication of data is an example of: a. Data fusion b. Visualization c. Neural networks d. Harmonization e. Data mining When determining the method of administration, it’s […]

A random sample of 5,000 households are selected for interviews with the following results: – 1,010 completed interviews – 864 refusals by the respondent – 3,126 no answer/not at home The response rate is a. 19%. b. 20%. c. 36%. […]

“How do you feel about the Apple, Inc.?” is an example of which type of question? a. Fixed-alternative b. Structured c. Open-ended d. Close-ended e. a, b, and c. Which of the following is NOT one of the steps that […]

A concern about the expanding number of commercial databases and corporate information systems is the issue of: a. Privacy b. Accuracy c. Cost d. Access e. Compatibility The majority of retail sales information is based on store audits. a. True […]

Let’s assume we find in a study that the Pearson’s correlation coefficient between number of years of education and cigarette smoking is -0.73. This means that as education level increases a. smoking tends to increase. b. smoking tends to decrease. […]

Typically, experiments have greater internal validity, and experiments have greater external validity. a. laboratory; field b. field; laboratory c. longitudinal; cross-sectional d. The internal and external validities are usually the same for both types of experiments. e. Neither internal or […]

No matter how well you’ve performed all the previous steps in the research, a project is often no more successful than the ___________. a. Data collection b. Data analysis c. Problem definition d. Survey administration e. Research report An explanation […]

Sales and cost data compiled in the normal accounting cycle represent a promising source of external secondary data. a. True b. False Which of the following statements is FALSE with regard to ratio scales? a. A ratio scale exhibits the […]

In a controlled test market all of the following are true, EXCEPT the a. product is distributed through normal distribution channels. b. test is conducted by a service agency external to the firm. c. test market service pays retailers for […]

Regression analysis a. is a means for getting at the nature of the relationship between one or more predictor variables and an outcome variable. b. “regresses” the independent variable on the set of outcome variables. c. produces regression coefficients for […]

The question, “Do you feel the government should be forced to stop picking our pockets with excessive taxes and return a portion of the taxes collected to taxpayers?” a. is leading. b. contains an implicit alternative. c. is double-barreled. d. […]

When the scale type in nominal, the appropriate measure of central tendency is_____. When the scale type is interval or ratio, the appropriate measure of central tendency is_________. a. Mode; mean b. Median; mean c. Mean; mode d. Mean; median […]

Ratio scales can be used to do everything that interval, ordinal and nominal scales can do. a. True b. False The words occasionally, sometimes, regularly and often are considered ambiguous. a. True b. False Answer: True In general, the simpler […]

A derived population refers to a. estimates of population parameters derived from nonprobability sampling plans. b. the best samples that can be drawn from a population using multiple sampling schemes. c. the sample drawn from the parent population using a […]

The number provided by the calculation, “number of completed interviews” divided by the sum of “number of completed interviews” and “number of ineligibles” is called the a. response rate. b. eligibility percentage. c. completeness percentage. d. refusal ratio. e. nonresponse […]

Area sampling is a form of a. cluster sampling. b. stratified sampling. c. quota sampling. d. convenience sampling. e. simple random sampling. Defining the problem is among the most difficult aspects of the marketing research process because of the of […]

Which of the following would be an appropriate interpretation of a p-value? a. A p-value of p < 0.0001 is ‘highly significant’ and therefore much more valid than a p value of 0.05. b. When a null hypothesis is rejected […]

External validity refers to our ability to attribute the effect that was observed to the experimental variable and not to the other factors. a. True b. False Which of the following is FALSE? a. With a ratio scale, it is […]

To improve your writing a. use technical terminology. b. use the longest words possible. c. write only one draft. d. read it aloud. e. use complex sentences. The method of ethical reasoning that considers whether or not costs and benefits […]

Which of the following is NOT one of the six steps in problem definition identified in chapter 3? a. State the manager’s decision problem. b. Prepare research request agreement. c. Secure funding d. Meet with client e. Clarify the problem/opportunity. […]

Which of the following statements is NOT true with respect to the oral research presentation? a. Many listeners may not be able to understand the technical aspects of the research. b. A quality presentation can disguise poor research, to some […]

For a scale to have ordinal properties, which of the following must be established? a. If “a” is greater than “b,” then “b” is not greater than “a.” b. If “a” is greater than “b” and “b” is greater than […]

The following is an example of a(n) . Do you think gun control legislation is a effective way to end the senseless slaughter rampant in the inner cities? Yes____ No____ a. double-barreled question b. leading question c. ambiguous question d. […]

Information control refers to resource issues such as the time and monetary costs of different data collection methods. a. True b. False The marketing team at Hudsucker Industries wants to determine which of two prices on a new version of […]

One method of handling potentially embarrassing questions uses a. branching questions. b. the telescoping technique. c. fixed alternatives. d. item nonresponse. e. the randomized-response model. What statement best describes what prescriptive analysis is used for? a. To uncover explanatory and […]

What type of scale is the following? Poor Quality High Quality Cars manufactured by South Korean companies are of (place on “X” on the point of this spectrum that represents your view) Poor Quality High Quality a. Stapel scale b. […]

You must conduct research to find out a great deal of information about potential customers. You need a minimum of 300 people and you know that you don’t have a lot of money to conduct the research, so you will […]

A stratum chart is equivalent to a line chart. a. True b. False For long reference periods, which of the following is FALSE? a. Telescoping error is relatively small. b. Recall loss is relatively large. c. Telescoping error may outweigh […]

Which of the following is NOT a problem with using a phone book for a sampling frame? a. Unlisted phone numbers. b. Not all homes have phones. c. Double counting homes with multiple phone numbers. d. The phone book is […]

Unlike the income statement, no financial ratios are reported on the statement of cash flows. Gospel Ministries purchased on account two pianos on April 3, 2012 for $6,600. The company agreed to pay an extra $100 to have the seller […]

According to the ____________________ principle, bad debt expense must be recorded in the period in which the sale was made. Any transaction or set of transactions that brings together two or more previously separate entities to form a single accounting […]

The stated value is the price at which employees can exercise stock options. A purchased company must be recorded at the value of the cash and other consideration given by the acquiring company. Answer: T Below are several accounts and […]

Knox Jewelers issued $1,000,000 of 8% interest bearing debt at the beginning of the year. The company reported net income before interest and taxes of $2,000,000 for the current year. Assuming a 40% tax rate, what is the company’s net […]

Refer to Mary Kay Cosmetics. What amount was declared and paid for dividends during 2014? Mary Kay Cosmetics Selected data and additional information from the company’s records are presented below: Additional information: Accumulated other comprehensive income is NOT considered to […]

The _______________ method most closely approximates replacement cost of inventory on the balance sheet. If the balance of wages payable increases during the year, then the ____________________ for the period will be greater than the actual cash wages paid in […]

In periods of inflation, debt financing is preferable to equity financing because the company is able to repay the lender in dollars that have declined in purchasing power. If new equipment purchased in 2013 is reported on the balance sheet […]

Why is the cash basis of accounting too limited for proper financial reporting? When stockholders exchange their shares of stock for additional shares, and there is a corresponding reduction in the par value of the stock, a stock ____________________ has […]

If the parent owns 90% of the subsidiary’s stock, then 90% of the subsidiary’s assets and liabilities are included in the consolidated balance sheet. During periods of stable purchase prices, FIFO produces the highest ending inventory relative to the other […]

____________________ have claims to an entity’s economic resources. What is the difference between comparability and consistency? Answer:Comparability allows comparisons to be made between or among companies. Even though a certain amount of freedom exists in selecting accounting principles, when this […]

What is the purpose of an aging schedule for accounts receivable? The dividends account has a normal debit balance. Answer: T On a bank reconciliation, outstanding checks are added to the cash balance per the bank statement. Answer: F A […]

Because the allowance method results in better matching, accounting standards require its use rather than the direct write-off method, unless bad debts are immaterial. Explain what costs are included in the acquisition cost of operating assets. Answer:Acquisition costs should include […]

Under the ____________________ method of preparing a statement of cash flows, the net cash flow from operating activities is computed by adjusting net income to remove the effect of all deferrals of past operating cash receipts and payments, and all […]

Double-declining-balance depreciation is most commonly used by businesses for financial reporting purposes. Every adjustment involves at least one income statement and one balance sheet account. Answer: T An accumulated ________ account is used when writing off natural resources. Answer: depletion […]

The excess of an inventory’s value stated on a FIFO basis over its value stated on a LIFO basis is called a(n) ____________________. Many companies assist the users of the financial statements by providing information about the company’s accounting policy […]

The three financial statements in which net income can be found are the ____________________, ____________________ and ____________________. The reason some major intangible assets are not in the financial statements is because they cannot be measured. Answer: T Cash flows from […]

If a company hires honest employees and its top management acts with integrity, no internal control procedures will be necessary. If the investor holds 50% or more of the common stock of the investee, then the two corporations are no […]

The Cash account is never part of an adjusting entry. Beach Catering sold its business for $75,000 under an asset purchase agreement. Under the agreement, the buyer made an initial payment of $35,000 which Beach Catering invested at 6% compounded […]

The cash ratio is calculated by dividing cash flows from operating activities by current liabilities. Preferred stockholders typically do not have the right to vote at stockholders meetings. Answer: T Why are unearned revenues considered current liabilities? Answer:Unearned revenues represent […]

A probable loss from a lawsuit that can be reasonably estimated should not be reported on the balance sheet as a current liability. Income from operations includes interest revenue and interest expense because these items are considered to be operating […]