Latest Updates to the BUS 475 Final Exam Guide

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Latest Updates to the BUS 475 Final Exam GuideGood Luck!3)Whateffectdocurrenttechnologychangeshaveonmanagerialaccounting?A.IncreaseinproductcostsB.ReductionofreportingcostsofmanagerialaccountinginformationC.CreationofthemiddlemanD.Reductionofemphasisonthevaluechain14)Thecostprincipleisthebasisforpreparingfinancialstatementsbecauseitis__________?A.aninternationalaccountingstandardB.aconservativevalueC.themostaccuratemeasureofpurchasingpowerD.relevantandobjectivelymeasured,andverifiable16)Whichofthefollowingwouldbemostlikelytocontributetothebreakdownofacartelinanaturalresource(e.g.,bauxite)market?A.HighcompatibilityofmemberinterestsB.HighpricesC.UnequalmemberownershipofthenaturalresourceD.Lowpriceelasticityofdemand17)Assumeoligopolyfirmsareprofitmaximizers,theydonotformacartel,andtheytakeotherfirms'productionlevelsasgiven.Theninequilibriumtheoutputeffect__________.A.mustbalancewiththepriceeffect

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B.mustdominatethepriceeffectC.canbelargerorsmallerthanthepriceeffectA.mustbalancewiththepriceeffectD.mustbesmallerthanthepriceeffect18)When,inaparticularmarket,thelawofdemandandthelawofsupplybothapply,theimpositionofabindingpriceceilinginthatmarketcausesquantitydemandedtobe__________?A.equaltoquantitysuppliedB.greaterthanquantitysuppliedC.doublethequantitysuppliedD.lessthanquantitysupplied20)Ifabindingpriceceilingwereimposedinthecomputermarket,__________.A.ashortageofcomputerswoulddevelopB.thedemandforcomputerswouldincreaseC.thequalityofcomputerswouldincreaseD.thesupplyofcomputerswoulddecrease21)Whenafirmsellsagoodoraservice,thesalecontributestothenation’sincome__________.A.onlyifthebuyerofthegoodorserviceisahouseholdB.whetherthebuyerofthegoodoraserviceisahousehold,anotherfirm,orthegovernmentC.Wehavetoknowwhethertheitembeingsoldisagoodoraserviceinordertoanswerthequestion

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D.onlyifthebuyerofthegoodorserviceisahouseholdoranotherfirm24)Themodelofaggregatedemandandaggregatesupplyexplainstherelationshipbetween__________.A.thepriceandquantityofaparticulargoodB.wagesandemploymentC.realGDPandthepricelevelA.thepriceandquantityofaparticulargoodD.unemploymentandoutput25)Inthemarketforforeigncurrencyexchangeintheopeneconomymacroeconomicmodel,theamountofnetcapitaloutflowrepresentsthequantityofdollars__________.A.suppliedforthepurposeofsellingassetsdomesticallyB.demandedforthepurposeofbuyingU.S.netexportsofgoodsandservicesC.demandedforthepurposeofimportingforeigngoodsandservicesD.suppliedforthepurposeofbuyingassetsabroad26)ManyU.S.businessleadersarguethatthecurrentstateofU.S.netexportsistheresultof__________.A.U.S.exportsubsidies.B.unproductiveU.S.workers.C.unfairforeigncompetition.D.freetradepoliciesofforeigngovernments.27)Thebalanceofpaymentaccountismadeupof:A.acurrentaccountandafinancialandcapitalaccount.B.aninvestmentaccountandaconsumptionaccount.

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