BUS 475 Final Exam Set 3
Download here: http://homeworkfox.com/questions/business/247/bus-475-final-exam-
Land (held for future use) 150,000 Corporate Office Building 600,000 Inventory 200,000 Equipment 450,000 Office Furniture 100,000 Accumulated Depreciation 300,000 What is the net amount of property, plant, and equipment that will appear on the balance sheet? 9) Of the following companies, which one would not likely employ the specific identification method for inventory costing? 10) If a company reports a net loss, it __________. 11) Disney’s variable costs are 30% of sales. The company is contemplating an advertising campaign that will cost $22,000. If sales are expected to increase $40,000, by how much will the company's net income increase? 12) The cost principle requires that when assets are acquired, they be recorded at __________. 13) Which one of the following items is not generally used in preparing a statement of cash flows? 14) Managerial accounting __________. 15) A logical starting point from which the study of international trade begins is __________. 16) Without trade, __________. 17) Assume oligopoly firms are profit maximizers, they do not form a cartel, and they take other firms' production levels as given. Then in equilibrium the output effect __________. 18) To move the allocation of resources closer to the social optimum, policymakers should typically try to induce firms in an oligopoly to __________. 19) When, in a particular market, the law of demand and the law of supply both apply, the imposition of a binding price ceiling in that market causes quantity demanded to be __________. 20) If a price ceiling is a binding constraint on the market, __________. 21) A tax on an imported good is called a __________. 22) The political business cycle refers to __________. 23) Real GDP __________. 24) The model of short-run economic fluctuations focuses on the price level and __________. 25) In the market for foreign-currency exchange in the open economy macroeconomic model, the amount of net capital outflow represents the quantity of dollars __________. 26) The open-economy macroeconomic model examines the determination of __________. 27) The balance of payment account is made up of: