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NEW QUESTION # 69
Deferred Taxes can be which of the following account types? (Select all that apply.)

• A. Asset
• B. Revenue
• C. Expense
• D. Owner's Equity
• E. Liability

Answer: A,E

NEW QUESTION # 70
A cafe located near a university used to only sell one type of coffee for $1.50 a cup. It decided to start selling a new premium cup for $2.50 while still keeping its standard coffee at $1.50. What recent event might have prompted this new product offering?

• A. The university announcing decreased enrollment numbers for next year
• B. The expansion of the university, displacing office buildings in the neighborhood
• C. The opening of a large and expensive apartment complex close to the cafe
• D. An increase in the cafe's rent

Answer: C

NEW QUESTION # 71
Exhibit:

The scatterplot below shows the relationship between the number of wins for 30 Major League Baseball teams in 2013 and their respective payrolls. The best fit line is included in the scatterplot. Which option below MOST accurately describes the best fit line shown?

• A. y = 72.08 + 0.09x
• B. y = 0.09 + 72.08x
• C. y = 0.09 - 72.08x
• D. y = 72.08 - 0.09x

Answer: A

NEW QUESTION # 72
A nutritional study is released that touts the benefits of eating cereal for breakfast. Concurrently, a new type of grain is invented that reduces the input costs in producing cereal. What will happen to the equilibrium price and the quantity consumed of bananas, a complement to breakfast cereal?

• A. The price and quantity consumed of bananas will not change.
• B. The price of bananas will increase, and the quantity consumed will decrease.
• C. Both the price of bananas and the quantity consumed will decrease.
• D. The quantity consumed of bananas will increase, and the effect on price cannot be determined.

Answer: D

NEW QUESTION # 73
A local restaurant owner decides to poll individuals randomly regarding how much they would be willing to spend on a romantic dinner for two. The owner takes a preliminary sample of 32 people and finds that the average amount those surveyed were willing to pay is $35 with a standard deviation of $10. The owner is not satisfied, however, because the owner wants to be 95% sure that the mean of the new sample falls within $2 of the true mean. What is the minimum number of people the owner should interview? Note that z=1.96 for a 95% confidence interval.

• A. 0
• B. 1
• C. 2
• D. 3

Answer: B

NEW QUESTION # 74
A recent recession greatly reduced income for many people. Which of the following goods likely saw the greatest reduction in willingness to pay (WTP)? (Select all that apply.)

• A. Clothing
• B. Healthcare
• C. Vacations
• D. Charitable donations
• E. Computers

Answer: C,D

NEW QUESTION # 75
In determining free cash flows, how is the change in net working capital calculated?

• A. Current Assets minus Current Liabilities (year projected) - Current Assets minus Current Liabilities (previous year)
• B. Current Assets (previous year) - Current Assets (year projected)
• C. Ending balance of cash (previous year) - Ending balance of cash (year projected)
• D. Receivables minus Payables (year projected) - Receivables minus Payables (previous year)

Answer: A

NEW QUESTION # 76
An executive at an insurance company has developed a new method for determining monthly rates for drivers insured by the company. Using a regression analysis of different factors, the executive has come to the conclusion that the two most important factors are the value of the carand the number of miles the driver lives from the city. The partial regression output table provided by the data is as follows:

Given this information, how much could a driver expect to pay per month for a car worth $45,000 located three miles from the city center?

• A. $836.50
• B. $563.50
• C. $250.00
• D. $313.50

Answer: B

NEW QUESTION # 77
A company bought a piece of land in 2012 for $200,000. In 2013, the piece of land temporarily reduced in value to $150,000 but then appreciated in value to $220,000. How would the company report this piece of land on its balance sheet for 2013?

• A. $220,000
• B. $185,000
• C. $200,000
• D. $150,000

Answer: C

NEW QUESTION # 78

Which of the following situations requires dummy variables to be used in the regression model?

• A. A study to examine the relationship between average salary and age of buyer on the amount spent on housing
• B. A study to examine the relationship between age and weight on the probability of breast cancer
• C. A study to examine the relationship between stock prices and interest rates on company revenue
• D. A study to examine the relationship between the season and amount of water pollution on the number of sea-turtles

Answer: D

NEW QUESTION # 79
A new weather forecast predicts a storm for Saturday. On Saturday, there will be an outdoor soccer match and an indoor basketball game played. If sports fans enjoy all types of sports, what will happen to ticket sales for both games?

• A. Soccer ticket prices will decrease, and basketball ticket prices will not be affected.
• B. Soccer ticket prices will decrease, and basketball ticket prices will increase.
• C. Quantity of basketball tickets sold will increase by the amount of the decrease in quantity of soccer tickets sold.
• D. Soccer ticket prices will increase, and basketball ticket prices will not be affected.

Answer: B

NEW QUESTION # 80
Managers of a milk processing company have hired an ad agency that proposed an advertising campaign to encourage the consumption of milk. Some managers are concerned that the advertisements do not promote the company itself. Under what circumstances would it be beneficial for the firm to adopt the campaign?

• A. The firm faces many strong competitors.
• B. The firm is currently losing money.
• C. The firm has a large market share.
• D. There is significant product differentiation in the milk industry.

Answer: C

NEW QUESTION # 81
Why are ratios important when comparing different companies within the same industry?

• A. They eliminate the effect of size differences among the different companies.
• B. Accounting policies might be different between companies.
• C. They reflect macroeconomic factors.
• D. They are useful for assessing the stage of the industry.

Answer: A

NEW QUESTION # 82
The following regression equation shows the relationship between the cost of homeowner's insurance and two variables: the home's distance from the waterfront (in miles) and the amount spent on the home's security system (in dollars).
Cost of Homeowner's Insurance = 3,000 - 300*(distance from waterfront) - 10*(amount spent on security systems)
Which of the statements below accurately describes this relationship?

• A. Provided the amount spent on security systems remains constant, for each additional mile a house is from the waterfront, the cost of homeowner's insurance decreases by $300 on average.
• B. For each additional mile a house is from the waterfront, the cost of homeowner's insurance decreases by $300 on average.
• C. As a house's distance from the waterfront increases by 300 miles, the amount spent on security systems decreases by $10 on average.
• D. Provided the distance from the waterfront remains constant, for each additional dollar spent on a security system, the cost of homeowner's insurance increases by $10 on average.

Answer: A

NEW QUESTION # 83
Based on the multiple regression output below, choose the variable with the highest level of significance.

• A. Intercept
• B. X Variable 9
• C. X Variable 5
• D. X Variable 3

Answer: B

NEW QUESTION # 84
A professional football team is considering adding two more games to its season. Which of the following costs should team owners NOT consider when making this decision?

• A. Hourly wages paid to security staff at games
• B. Costs per each additional game
• C. Annual rent paid for the stadium
• D. Maintenance costs

Answer: C

NEW QUESTION # 85
A dance club earns revenues by charging an entry fee and then selling drinks to attendees. This pricing scheme is MOST similar to:

• A. A movie theater providing a discount to college students.
• B. Selling a computer and word processing software as a package.
• C. A grocery store that is open only to paying members.
• D. Offering a rebate on a new television.

Answer: C

NEW QUESTION # 86
Which of the following situations is an example of materiality in accounting?

• A. Company A receives an order from its largest customer, but it is a relatively small order. Company A does not make any entry into the accounts at the time it receives the order.
• B. Company A initiates a relatively small new advertising campaign. Company A decides to include these costs as part of selling, general, and administrative expenses on the income statement rather than disclose them separately.
• C. Company A wants to purchase $100,000 worth of fabric to use in its upholstery business. However, the supplier will not grant credit for a purchase that large, so Company A reduces the order to $20,000.
• D. Company A owns land that it purchased for $100,000 twenty years ago. The land is now appraised at $250,000, but Company A does not adjust the value of the land in its accounts.

Answer: B

NEW QUESTION # 87
A chain of coffee stores recently released a new product priced at $3.00. After a few weeks of sales data, management noticed that the new product sold out in a majority of its stores. Which of the following strategies should management use to determine an ideal price?

• A. Maintain current prices and increase supply of the product
• B. Survey customers who recently purchased the product
• C. Gradually increase the price until profits begin to fall
• D. Adjust the price for the product until it no longer sells out anywhere

Answer: C

NEW QUESTION # 88
An airline company wants to improve its understanding of its product and customers. Using an internal model, the company predicts that business class revenues will decrease if the price of business class is reduced, but coach class revenues will increase if the price of coach class is reduced. Why might this be the case?

• A. There are too many business class seats in the airplane.
• B. Coach travelers typically have a lower opportunity cost of time than business travelers.
• C. Coach travelers often pay out of their own pocket, whereas business travelers do not.
• D. Business class travel is a luxury good.

Answer: B

NEW QUESTION # 89
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