Archives: Quiz
Accounting Chapter 09 1 Flexibility applies to situations in which there are relevant circumstances and more than one possible accounting method exists
Chapter 9—UNIFORMITY AND DISCLOSURE: SOME POLICY-MAKING DIRECTIONS TRUE/FALSE 1. Events are economic occurrences that require accounting entries. ANSWER: T 2. The concept of uniformity appears to overlap with consistency. ANSWER: F 3. Transactions are economic or financial events that are […]
Accounting Chapter 3 Chapter_3 The system of accounting where revenues are recorded when they are earned and expenses are recorded when they are incurred is called the cash basis of accounting
Name: Class: Date: chapter 3 Copyright Cengage Learning. Powered by Cognero. Page 1 Indicate whether the statement is true or false. 1. If the debit portion of an adjusting entry is to an asset account, then the credit portion must […]
Accounting Chapter 08 1 Residual income refers to income in excess of a charge for the capital that is employed to generate that income
Chapter 8—USEFULNESS OF ACCOUNTING INFORMATION TO INVESTORS AND CREDITORS TRUE/FALSE 1. The FASB has implicitly adopted the cash flow valuation model. ANSWER: T 2. The FASB maintains that accrual accounting systems are more useful for predicting net cash flows than […]
Accounting Chapter 2 Chapter_2 The totals at the bottom of the trial balance and the totals at the bottom of the balance sheet both show equality and balancing and therefore should be equal
Name: Class: Date: chapter 2 Copyright Cengage Learning. Powered by Cognero. Page 1 Indicate whether the statement is true or false. 1. Journalizing always eliminates fraudulent activity. a. True b. False 2. Accounts payable are accounts that you expect will […]
Accounting Chapter 07 1 The conceptual framework maintains that accounting reports should become the only relevant source of information about enterprises
Chapter 7—THE FASB’S CONCEPTUAL FRAMEWORK TRUE/FALSE 1. The conceptual framework is an attempt to provide a metatheoretical structure for financial accounting. ANSWER: T 2. The most important new issue brought up in the discussion memorandum that preceded the conceptual framework […]
Accounting Chapter 1 Chapter_1 The basic difference between manufacturing and merchandising companies is the completion level of the products they purchase for resale to customers
Name: Class: Date: chapter 1 Copyright Cengage Learning. Powered by Cognero. Page 1 Indicate whether the statement is true or false. 1. The accounting equation can be expressed as Assets – Liabilities = Owner’s Equity. a. True b. False 2. […]
Accounting Chapter 06 1 Several important committee reports gave rise to objectives and standards in place of the postulates and principles approach
Chapter 6—THE SEARCH FOR OBJECTIVES TRUE/FALSE 1. The postulates and principles approach was concerned with user objectives. ANSWER: F 2. Several important committee reports gave rise to objectives and standards in place of the postulates and principles approach. ANSWER: T […]
Accounting Chapter 05 1 The time period idea is somewhat artificial because it creates definite segments out of what is a continuing process
Chapter 5—POSTULATES, PRINCIPLES, AND CONCEPTS TRUE/FALSE 1. The APB was the first to successfully derive an underlying framework of postulates and principles. ANSWER: F 2. ARS 1 and ARS 4 represent a milestone in the attempt to provide a unified […]
Accounting Chapter 04 1 Agency theory explains that firms have an incentive to report voluntarily to the capital market because they are competing for risk capital
Chapter 4—THE ECONOMICS OF FINANCIAL REPORTING REGULATION TRUE/FALSE 1. Financial reporting for publicly listed companies in the United States was first regulated in the 1950s. ANSWER: F 2. Congress empowered the Securities and Exchange Commission (SEC) to regulate financial reporting […]
Accounting Chapter 03 1 Most of the responsibility for establishing accounting principles has remained with the private sector rather than the SEC
Chapter 3—DEVELOPMENT OF INSTITUTIONAL STRUCTURE OF FINANCIAL ACCOUNTING Accounting Theory: 9th edition Page 1 of 12 TRUE/FALSE 1. The accounting profession has been regulated by Congress since the 1880s when it became clear that accounting was an important instrument in […]
Accounting Chapter 02 1 D19 Positive accounting research attempts to be value-free, while normative accounting research is value judgment oriented
Chapter 2—ACCOUNTING THEORY AND ACCOUNTING RESEARCH TRUE/FALSE 1. The use of research in accounting results in the field being referred to as an academic discipline. ANSWER: T 2. The scientific method refers to the formal procedures used to derive the […]
Accounting Chapter 01 1 Accounting theory includes conceptual frameworks, accounting legislation, valuation models, and hypotheses and theories
Chapter 1—AN INTRODUCTION TO ACCOUNTING THEORY TRUE/FALSE 1. Financial accounting refers to accounting information that is used by management for decision- making purposes. ANSWER: F 2. Accounting theory includes the basic rules, definitions, and principles that underlie the drafting of […]
Marketing Chapter 16 1 An organizational culture involves three elements: a set of shared values, a set of norms of behavior, and a context or environment.
Chapter 16 – From Silos to Synergy—Harnessing the Organization 16.1 One dimension of organizational structure is the budgeting system. 16.2 The four dimensions of an organization include people, structure, ________, and _________. Answer: culture and systems. 16.3 The virtual corporation […]
Marketing Chapter 15 1 Motivations for exiting include avoidance of drain on profits by dog businesses in portfolio and purging businesses that do not fit the strategy of the firm
Chapter 15—Setting Priorities for Businesses and Brands—The Exit, Milk, and Consolidate Options 15.1 Cash cows are units that should no longer absorb investments aimed at growing the business. 15.2 The GE model is less complex than the BCG model. Answer: […]
Marketing Chapter 14 1 Strong motivations for a standardized global brand and position are media spillover and cross-country customer travel
Chapter 14 – Global Strategies 14.1 A global strategy is a multinational strategy in which separate strategies are developed for different countries. 14.2 Among the eight motivations for global strategies is to cross-subsidize businesses and to obtain scale economies. Answer: […]
Marketing Chapter 13 1 True market pioneers often survive because they enter the market first and build position and are able to withstand technological advances
Chapter 13—Creating New Business 13.1 Blue ocean businesses and red ocean businesses both generally allow for above average earnings. 13.2 Barriers to long term success in existing product-markets do not include which of the following: a. Markets are so dynamic […]
Marketing Chapter 12 1 Four questions were suggested in the book as being a good source of growth options. One was asking whether brand extensions are possible
Chapter 12—Leveraging the Business 12.1 Four questions were suggested in the book as being a good source of growth options. One was asking whether brand extensions are possible. Another was whether new distribution channels are available. 12.2 In leveraging an […]
Marketing Chapter 11 1 Differentiation is increasingly difficult to create and maintain as competitors proliferate products and quickly copy advances
Chapter 11—Energizing the Business 11.1 All of the following are examples of ways to stimulate basic business except: a. Expand buyer base b. Expand the loyal customer base c. Improve customer experience d. Eliminate inefficiencies e. Develop home-run marketing programs […]
Marketing Chapter 10 1 The sweet-spot program should have an immediate impact by stimulating customer involvement and purchases, thus affecting the short-term financials
Chapter 10—Toward a Strong Brand Relationship 10.1 A brand touchpoint occurs any time a person in the marketplace interacts with the brand. 10.2 A sweet spot should be a part of, if not central to a customer’s self-identity and lifestyle […]
Marketing Chapter 9 1 Firms dependent on brand association position based on certain attributes are vulnerable to competitor innovation and shouting matches that lead to lost credibility
Chapter 9—Building and Managing Brand Equity 9.1 The three types of brand assets are brand awareness, brand equity and brand loyalty. 9.2 Brand awareness serves to differentiate brands along a recall/familiarity dimension. Answer: True. 9.3 Brand awareness does not provide […]
Marketing Chapter 8 1 Business strategies should offer a clear value proposition to customers and be supported by assets and competencies and functional strategies and programs
Chapter 8 – Alternative Value Propositions 8.1 A value proposition is often an umbrella concept under which the supporting assets and competences and functional strategies and programs can be grouped. 8.2 Business strategies should offer a clear value proposition to […]
Marketing Chapter 7 1 An effective sustainable competitive advantage needs to be both meaningful and sustainable. And it should be substantial to make a difference
Chapter 7 – Creating Advantage, Synergy, and Strategic Philosophies 7.1 Among the critical determinants of an SCA is the choice of the product-market and the identity and nature of competitors. 7.2 An effective sustainable competitive advantage needs to be both […]
Marketing Chapter 6 1 The goal of analysis is to develop strategies that either exploit a firm’s strengths or correcting / compensating for weaknesses
Chapter 6- Internal Analysis 6.1 The goal of analysis is to develop strategies that either exploit a firm’s strengths or correcting / compensating for weaknesses. 6.2 ROA is return on sales times asset turnover. Answer: True. It can also be […]
Marketing Chapter 5 1 Innovations that are transformational or substantial tend to be employed by new participants in an industry rather than established players
Chapter 5 – Environmental Analysis and Strategic Uncertainty 5.1 One of the three components of environmental analysis is internal analysis. 5.2 The goals of environmental analysis are to identify fads, trends and events that will only affect strategy in a […]
Marketing Chapter 4 1 Key success factors are assets and/or competencies that provide the basis for any competitor to be successful in an industry.
Chapter 4 – Market/Submarket Analysis 4.1 A user gap is caused when one segment uses more of a product than another segment. 4.2 One goal of market and submarket analysis is to understand the dynamics of the market. Answer: True. […]
Marketing Chapter 3 1 According to the book, mobility barriers are barriers inhibiting the movement of a person from one social class to another
Chapter 3 – Competitor Analysis 3.1 One way to identify competitors is to group competitors according to the degree they compete for a buyer’s choice. 3.2 A strategic group is a customer segment that is strategically important to the business. […]
Marketing Chapter 2 1 In a strategic context, segmentation means the identification of customer groups that respond differently from other groups to competitive offerings
Chapter 2 – External and Customer Analysis 2.1 A strategic uncertainty identifies the most important strategic options. 2.2 An external analysis process should be able to affect strategy and to generate or evaluate strategic decisions. Answer: True. The external analysis […]
Marketing Chapter 1 1 To develop a sustainable competitive advantage (SCA) in dynamic markets, a company must create multiple business units
OBJECTIVE QUESTIONS Note – These objective questions cover the material from the book. In general, a false answer is markedly at odds with material in the book. However, it may not be at odds with other written material. Therefore, it […]
Marketing Chapter 17 2 Natalie is a senior executive of a department store chain. Every week, she visits one of the stores and pretends to be a customer
Copyright © 2019 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 44) Which of the following is the best example of a service goal for a retailer that is sincere about […]
Marketing Chapter 17 3 Kevin is a salesperson selling electronic goods. A customer complains about problems with the music player purchased by him the previous week
Copyright © 2019 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 66) Which of the following approaches would not be effective in service recovery? A) Listening to the customer B) Providing […]
Marketing Chapter 17 1 McDonald’s, with its use of specific policies and procedures to provide an acceptable, consistent service quality, would best be described as using the personalized approach for customer service
Copyright © 2019 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Retailing Management, 10e (Levy) Chapter 17 Customer Service 1) A standardized service approach requires that service providers tailor their services […]
Marketing Chapter 16 3 Dana is planning on renovating her kitchen. When she went into a home improvement store, she admired the various model kitchens the store had set up
Copyright © 2019 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 66) In which of the following stores would you be most likely to encounter a four-way fixture? A) Dazzle, a […]
Marketing Chapter 16 2 In Sid’s Surf Shop, there is a 10-foot-long surf board on legs with swimwear on it near the entrance to the department where surfing merchandise is sold
Copyright © 2019 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 44) In Sid’s Surf Shop, there is a 10-foot-long surf board on legs with swimwear on it near the entrance […]
Marketing Chapter 16 1 Stores design provides hedonic benefits by enabling customers to locate and purchase products in an efficient and timely manner with minimum hassle
Copyright © 2019 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Retailing Management, 10e (Levy) Chapter 16 Store Layout, Design, and Visual Merchandising 1) The primary objective of a store design […]
Marketing Chapter 15 2 Norman was recognized as the best Alberton s’ employee of the year. His name, along with the names of other winners, is engraved on a plaque that is prominently displayed in the store.
Copyright © 2019 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 45) Norman was recognized as the best Albertons’ employee of the year. His name, along with the names of other […]
Marketing Chapter 15 1 The job description identifies essential activities to be undertaken and is used to determine the qualifications of potential employees
Copyright © 2019 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Retailing Management, 10e (Levy) Chapter 15 Human Resources and Managing the Store 1) Employee productivity is retail sales or profit […]
Marketing Chapter 14 2 In a national print advertisement, Levi’s was showcasing its new line of denim jackets. At the bottom of the ad, the Macy’s logo was found as a place where the new jackets could be purchased by customers
Copyright © 2019 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 40) Which of the following is typically the last step in developing a retail communication program? A) Implement and evaluate […]
Marketing Chapter 14 1 Sentiment analysis is the process of analyzing social media to assess people’s overall attitudes and preferences for products, brands, and marketing
Copyright © 2019 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Retailing Management, 10e (Levy) Chapter 14 Retail Communication Mix 1) In TV advertising, “spots” have relatively large audiences, but they […]
Marketing Chapter 13 3 Dream Homes is an appliance store. It recently launched its own brand of freezers in order to build customer loyalty. The store launched three different models to cater to low-, middle-, and high-income groups
Copyright © 2019 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 66) ________ refers to charging different prices for different stores, markets, or regions. A) Zone pricing B) Geofencing C) Price […]
Marketing Chapter 13 Jenny runs a produce stand in an inner-city neighborhood. With the recent layoffs, she has become popular because she gives her day-old produce to the local charity become popular because she gives her day-old produce to the local charity
Copyright © 2019 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 44) ________ is an analytical tool that enables retailers to know the number of units they need to sell to […]
Marketing Chapter 13 1 Retailers frequently offer a limited number of predetermined price points within a merchandise category, a practice known as zone pricing
Copyright © 2019 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Retailing Management, 10e (Levy) Chapter 13 Retail Pricing 1) The high/low pricing strategy helps sell slow-moving merchandise. Answer: TRUE Explanation: […]
Marketing Chapter 1 1 Companies are totally convinced about the importance of corporate social responsibility (CSR) during the initial stages of CSR integration
Copyright © 2019 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Retailing Management, 10e (Levy) Chapter 1 Introduction to the World of Retailing 1) Retailers are a key component in a […]
Accounting Chapter 15a Chapter 15a_version1 Carson did not dispose of any property, plant, and equipment during the year. It constructs its statement of cash flows using the direct method
Version 1 1 Student name:__________ 1) Comparative balance sheets and the income statements for Ellis Corporation are presented below: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Current assets: Cash and cash equivalents $ 45,900 $ 31,500 Accounts receivable 38,800 […]
Accounting Chapter 13a Chapter 13a_version1 A study has indicated that some of the tours are not profitable, and consideration is being given to dropping these tours in order to improve the company’s overall operating performance
Version 1 1 Student name:__________ 1) Costs associated with two alternatives, code-named Q and R, being considered by Albiston Corporation are listed below: Alternative Q Alternative R Supplies costs $ 68,000 $ 68,000 Power costs $ 31,500 $ 30,300 Inspection […]
Accounting Chapter 10b Chapter 10b_version1 Arellanes Corporation manufactures one product. It does not maintain any beginning or ending Work in Process inventories
Version 1 1 Student name:__________ 1) Arellanes Corporation manufactures one product. It does not maintain any beginning or ending Work in Process inventories. The company uses a standard cost system in which inventories are recorded at their standard costs and […]
Accounting Chapter 10a Chapter 10a_version1 The company has a standard cost system in which it applies overhead to this product based on the standard machine-hours allowed for the actual output of the period
Version 1 1 Student name:__________ 1) Holl Corporation has provided the following data for November. Denominator level of activity 5,600 machine-hours Budgeted fixed manufacturing overhead costs $ 70,560 Standard machine-hours allowed for the actual output 5,900 machine-hours Actual fixed manufacturing […]
Accounting Chapter 7a Chapter 7a_version1 In a Capacity Analysis report in time-based activity-based costing, the impact on expenses of matching capacity with demand is computed by multiplying the potential adjustment
Version 1 1 Student name:__________ 1) Gessford Corporation is conducting a time-driven activity-based costing study in its Order Fulfillment Department. The company has provided the following data to aid in that study: Gessford Corporation Order Fulfillment Department Data Inputs Resource […]
Accounting Chapter 6a Chapter 6a_version1 The company does not have any variable manufacturing overhead costs or variable selling and administrative expenses
Version 1 1 Student name:__________ 1) Dattilio Corporation manufactures and sells one product. The following information pertains to the company’s first year of operations: Variable cost per unit: Direct materials $ 65 Fixed costs per year: Direct labor $ 1,495,200 […]
Accounting Chapter 5a Chapter 5a_version1 Butler Sales Company is a distributor that has an exclusive franchise to sell a particular product made by another company
Version 1 1 Student name:__________ 1) Arlo’s T-shirt Shop only has three costs: T-shirt cost, rent cost on the shop, and utilities cost. Arlo’s sells the T-shirts for $14.50 each. Management has prepared the following cost information for next month: […]
Accounting Chapter 4b Chapter 4b_version1 Administrative Department costs are allocated on the basis of employee hours and Facilities Department costs are allocated on the basis of space occupied
Version 1 1 Student name:__________ 1) Cerce Corporation uses the direct method to allocate service department costs to operating departments. The company has two service departments, Administrative and Facilities, and two operating departments, Assembly and Finishing. Service Department Operating Department […]