Business Administration Exam Bank
Course Introduction
Business Administration is a comprehensive course that introduces students to the fundamental concepts, principles, and practices necessary for effective management and operation of organizations. Covering topics such as management, marketing, finance, human resources, and organizational behavior, the course provides students with a holistic understanding of how businesses function in the modern marketplace. Through case studies, group projects, and critical analysis, students develop essential skills in strategic planning, decision-making, communication, and problem-solving, preparing them for diverse roles and leadership positions in a variety of business environments.
Recommended Textbook
Managerial Accounting 13th Edition by Carl
Warren
Available Study Resources on Quizplus
14 Chapters
2568 Verified Questions
2568 Flashcards
Source URL: https://quizplus.com/study-set/3534
Page 2
Chapter 1: Managerial Accounting Concepts and Principles
Available Study Resources on Quizplus for this Chatper
201 Verified Questions
201 Flashcards
Source URL: https://quizplus.com/quiz/70183
Sample Questions
Q1) Goods that are partially completed by a manufacturer are
A)merchandise inventory
B)work in process inventory
C)finished goods inventory
D)materials inventory
Answer: B
Q2) A company sells goods for $150,000 that cost $54,000 to manufacture.Which statement is true?
A)The company will recognize sales on the balance sheet of $150,000.
B)The company will recognize $96,000 gross profit on the balance sheet.
C)The company will decrease finished goods by $54,000.
D)The company will increase finished goods by $54,000.
Answer: C
Q3) Depreciation expense-office
A)Prime costs
B)Conversion costs
C)Both prime and conversion costs
D)Neither prime or conversion costs
Answer: D
To view all questions and flashcards with answers, click on the resource link above.
Page 3
Chapter 2: Job Order Costing
Available Study Resources on Quizplus for this Chatper
195 Verified Questions
195 Flashcards
Source URL: https://quizplus.com/quiz/70184
Sample Questions
Q1) The balance of Material Q on May 1 and the receipts and issuances during May are as follows:
Balance, May 1 8 at $32
Received, May 11 23 at $33
Received, May 25 15 at $35
Issued, May 17 14
Issued, May 27 18
Determine the cost of each of the issuances under a perpetual system, using the FIFO method.
Answer: May 17 issue: 8 × $32 + 6 × $33 = $454
May 27 issue: 17 × $33 + 1 × $35 = $596
Q2) The debit to factory overhead for the cost of indirect materials is obtained from the summary of the materials requisitions.
A)True
B)False
Answer: True
Q3) Direct labor cost is an example of a period cost.
A)True
B)False
Answer: False
To view all questions and flashcards with answers, click on the resource link above. Page 4
Chapter 3: Process Cost Systems
Available Study Resources on Quizplus for this Chatper
198 Verified Questions
198 Flashcards
Source URL: https://quizplus.com/quiz/70185
Sample Questions
Q1) In a process costing system, costs flow into finished goods inventory only from the work in process inventory of the last manufacturing process.
A)True
B)False
Answer: True
Q2) Department M had 600 units 60% completed in process at the beginning of June, 6,000 units completed during June, and 700 units 30% completed at the end of June.Using the first-in, first-out method of inventory costing, what was the number of equivalent units of production for conversion costs for the period?
A)7,300 units
B)5,640 units
C)6,700 units
D)5,850 units
Answer: D
Q3) In a process costing system, indirect materials are charged to Work in Process. A)True
B)False
Answer: False
To view all questions and flashcards with answers, click on the resource link above. Page 5
Chapter 4: Cost Behavior and Cost-Volume-Profit Analysis
Available Study Resources on Quizplus for this Chatper
225 Verified Questions
225 Flashcards
Source URL: https://quizplus.com/quiz/70186
Sample Questions
Q1) If direct materials cost per unit increases, the break-even point will increase.
A)True
B)False
Q2) Bluegill Company sells 45,000 units at $18 per unit.Fixed costs are $62,000 and income from operations is $298,000.Determine the a variable cost per unit, b unit contribution margin, and c contribution margin ratio.
Q3) For the current year ending January 31, Harp Company expects fixed costs of $188,500 and a unit variable cost of $51.50.For the coming year, a new wage contract will increase the unit variable cost to $55.50.The selling price of $70.00 per unit is expected to remain the same.
a Compute the break-even sales units for the current year.Round your answer to the nearest whole number.
b Compute the anticipated break-even sales units for the coming year, assuming the new wage contract is signed.
Q4) Define operating leverage.Explain the relationship between a company's operating leverage and how a change in sales is expected to impact profits.
To view all questions and flashcards with answers, click on the resource link above.
Page 6
Chapter 5: Variable Costing for Management Analysis
Available Study Resources on Quizplus for this Chatper
160 Verified Questions
160 Flashcards
Source URL: https://quizplus.com/quiz/70187
Sample Questions
Q1) Contribution margin reporting and analysis is appropriate only for manufacturing firms, not for service firms.
A)True
B)False
Q2) The amount of income under absorption costing will be more than the amount of income under variable costing when units manufactured:
A)exceed units sold
B)equal units sold
C)are less than units sold
D)are equal to or greater than units sold
Q3) If variable selling and administrative expenses totaled $120,000 for the year 80,000 units at $1.50 each and the planned variable selling and administrative expenses totaled $136,500 78,000 units at $1.75 each, the effect of the unit cost factor on the change in contribution margin is:
A)$19,500 decrease
B)$19,500 increase
C)$20,000 decrease
D)$20,000 increase
To view all questions and flashcards with answers, click on the resource link above.
Chapter 6: Budgeting
Available Study Resources on Quizplus for this Chatper
197 Verified Questions
197 Flashcards
Source URL: https://quizplus.com/quiz/70188
Sample Questions
Q1) The cash payments for Finch Company expected in the month of June are
A)$215,500
B)$188,800
C)$214,000
D)$212,000
Q2) Budgeted production for product XXX during the month is
A)522,000 units
B)552,000 units
C)518,000 units
D)520,000 units
Q3) The budgeting process is used to effectively communicate planned expectations regarding profits and expenses to the entire organization.
A)True
B)False
Q4) Budgeted production for product ZZZ during the month is
A)460,000 units
B)475,000 units
C)457,000 units
D)463,000 units
Q5) Why is the sales budget usually prepared first?
Page 8
To view all questions and flashcards with answers, click on the resource link above.
Chapter 7: Performance Evaluation Using Variances From
Standard Costs
Available Study Resources on Quizplus for this Chatper
175 Verified Questions
175 Flashcards
Source URL: https://quizplus.com/quiz/70189
Sample Questions
Q1) Which of the following would not lend itself to applying direct labor variances?
A)help desk assistant
B)research and development scientist
C)customer service personnel
D)telemarketer
Q2) Aquatic Corp.'s standard material requirement to produce one Model 2000 is 15 pounds of material @ $110.00 per pound.Last month, Aquatic purchased 170,000 pounds of material at a total cost of $17,850,000.It used 162,000 pounds to produce 10,000 units of Model 2000.
Calculate the materials price variance and materials quantity variance, and indicate whether each variance is favorable or unfavorable.
Q3) The fixed factory overhead volume variance is
A)$73,250 unfavorable
B)$73,250 favorable
C)$59,400 favorable
D)$59,400 unfavorable
Q4) In most businesses, cost standards are established principally by accountants.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 9
Chapter 8: Performance Evaluation for Decentralized Operations
Available Study Resources on Quizplus for this Chatper
218 Verified Questions
218 Flashcards
Source URL: https://quizplus.com/quiz/70190
Sample Questions
Q1) The ratio of sales to investment is termed the rate of return on investment. A)True
B)False
Q2) Marshall Corporation had $220,000 in invested assets, sales of $242,000, income from operations of $66,000, and a desired minimum rate of return of 3%.The rate of return on investment for Marshall is
A)9.1%
B)30%
C)3.0%
D)27.3%
Q3) What is the rate of return on investment for Division A?
A)9.3%
B)99.3%
C)74.6%
D)4.6%
Q4) The Magnolia Company's Division A has income from operations of $80,000 and assets of $400,000.The minimum acceptable rate of return on assets is 12%.What is the residual income for the division?
10
To view all questions and flashcards with answers, click on the resource link above.
Chapter 9: Differential Analysis, Product Pricing, and
Activity-Based Costing
Available Study Resources on Quizplus for this Chatper
175 Verified Questions
175 Flashcards
Source URL: https://quizplus.com/quiz/70191
Sample Questions
Q1) Ptarmigan Company produces two products.Product A has a contribution margin of $20 and requires 4 machine hours.Product B has a contribution margin of $18 and requires 3 machine hours.Determine the most profitable product assuming the machine hours are the constraint.
Q2) Piper Corp.is operating at 70% of capacity and is currently purchasing a part used in its manufacturing operations for $24 per unit.The unit cost for the business to make the part is $36, including fixed costs, and $26, not including fixed costs.If 15,000 units of the part are normally purchased during the year but could be manufactured using unused capacity, what would be the amount of differential cost increase or decrease from making the part rather than purchasing it?
A)$30,000 cost decrease
B)$180,000 cost increase
C)$30,000 cost increase
D)$180,000 cost decrease
Q3) Relevant revenues and costs refer to A)activities that occurred in the past B)monies already earned and/or spent
C)last year's net income
D)differences between the alternatives being considered
Page 11
To view all questions and flashcards with answers, click on the resource link above.
Chapter 10: Capital Investment Analysis
Available Study Resources on Quizplus for this Chatper
190 Verified Questions
190 Flashcards
Source URL: https://quizplus.com/quiz/70192
Sample Questions
Q1) The process by which management allocates available investment funds among competing capital investment proposals is termed capital rationing.
A)True
B)False
Q2) A project has estimated annual net cash flows of $60,000.It is estimated to cost $240,000.Determine the cash payback period.
Q3) Can be determined by initial cost divided by annual net cash inflow of an investment
A)Capital investment analysis
B)Time value of money concept
C)Net present value method
D)Average rate of return
E)Cash payback period
Q4) The average rate of return method of capital investment analysis gives consideration to the present value of future cash flows.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 12
Chapter 11: Cost Allocation and Activity-Based Costing
Available Study Resources on Quizplus for this Chatper
110 Verified Questions
110 Flashcards
Source URL: https://quizplus.com/quiz/70193
Sample Questions
Q1) Product costing consists of only direct materials and direct labor.
A)True
B)False
Q2) Use of a plantwide factory overhead rate distorts product costs when there are differences in the factory overhead rates across different production departments and when products require different ratios of allocation-base usage in each production department.
A)True
B)False
Q3) The Ramapo Company uses a single overhead rate to apply all overhead costs.What would the single plantwide rate be if it was based on machine hours instead of labor hours?
A)$9.00 per machine hour
B)$19.50 per machine hour
C)$7.43 per machine hour
D)$4.00 per machine hour
Q4) Estimated activity-base usage quantities are the total activity-base quantities related to each product.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 13
Chapter 12: Lean Principles, Lean Accounting, and Activity Analysis
Available Study Resources on Quizplus for this Chatper
137 Verified Questions
137 Flashcards
Source URL: https://quizplus.com/quiz/70194
Sample Questions
Q1) A backflush accounting system uses work in process inventories as control points between each process step.
A)True
B)False
Q2) Recalls
A)Preventive costs
B)Appraisal costs
C)Internal failure costs
D)External failure costs
Q3) In a lean environment, process problems are more visible than they are in a traditional environment because:
A)inventories are maintained at higher levels.
B)process problems cause production to shut down immediately.
C)the push manufacturing system leads to increased inventory level.
D)the lack of work in process inventory creates problems.
Q4) In a lean environment, process problems are more visible than they are in a traditional environment.
A)True
B)False
Q5) From the above schedule, calculate the external failure costs.
To view all questions and flashcards with answers, click on the resource link above. Page 14
Chapter 13: Statement of Cash Flows
Available Study Resources on Quizplus for this Chatper
189 Verified Questions
189 Flashcards
Source URL: https://quizplus.com/quiz/70196
Sample Questions
Q1) Which of the following can be found on the statement of cash flows?
A)cash flows from operating activities
B)total assets
C)total changes in stockholders' equity
D)changes in retained earnings
Q2) Financing activities include
A)lending money
B)acquiring investments
C)issuing debt
D)acquiring long-lived assets
Q3) The acquisition of land in exchange for common stock is an example of noncash investing and financing activity.
A)True
B)False
Q4) To determine cash payments for merchandise for the statement of cash flows using the direct method, a decrease in accounts payable is added to the cost of merchandise sold.
A)True B)False
To view all questions and flashcards with answers, click on the resource link above. Page 15
Chapter 14: Financial Statement Analysis
Available Study Resources on Quizplus for this Chatper
198 Verified Questions
198 Flashcards
Source URL: https://quizplus.com/quiz/70195
Sample Questions
Q1) Which of the following is not included in the computation of the quick ratio?
A)inventory
B)marketable securities
C)accounts receivable
D)cash
Q2) If net income is $250,000 and interest expense is $20,000 for Year 2, and the market price of common shares is $30, what is the price-earnings ratio on common stock for Year 2? Round intermediate calculation to two decimal places and final answers to one decimal place.
A)7.5
B)13.4
C)12.1
D)8.5
Q3) A balance sheet shows cash, $75,000; marketable securities, $115,000; receivables, $150,000; and inventories, $222,500.Current liabilities are $225,000.The current ratio is 2.5.
A)True
B)False
Q4) The following data are available for Martin
Q5) Define solvency and profitability.How are they alike?
To view all questions and flashcards with answers, click on the resource link above. Page 16