Business Administration
Study Guide Questions
Course Introduction
Business Administration is a comprehensive course designed to introduce students to the fundamental principles and practices of managing an organization. Covering key areas such as management, marketing, finance, human resources, and operations, the course equips students with the analytical and strategic skills needed to navigate todays dynamic business environments. Through case studies, real-world projects, and theoretical frameworks, students will develop the ability to make informed decisions, understand organizational structure, and effectively lead teams, preparing them for various roles in business and entrepreneurship.
Recommended Textbook
Contemporary Business Mathematics with Canadian Applications 9th Edition by S. A. Hummelbrunner
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1484 Verified Questions
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Page 2
Chapter 1: Review of Arithmetic
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Sample Questions
Q1) Mark's gross wages for a week were $711.20. His regular workweek is 40 hours and overtime is paid at time and one-half regular pay. What is Mark's regular hourly wage if he worked 45 1/2 hours?
Answer: Total hours = 45.5
Regular hours = 40.00
Overtime hours = 5.5
5.5 overtime hours are equivalent to 5.5 × 1.5 = 8.25 regular hours. Hourly rate of pay = 11ea8930_327f_99dd_b375_7f9d4b6bc3d8_TB4213_11 = $14.74
Q2) Simplify: (14 + 7)/3
Answer: (14 + 7)/3 = 21/3 = 7
Q3) Two people living in different communities build houses of the same design on lots of equal size. If the person in Airdrie has his house and lot assessed at $165 000 with a mill rate of 22.051 mills, will his taxes be more or less than the person in Kimberly with an assessment of $145 000 and a mill rate of 25.124 mills?
Answer: Property tax in Airdrie = 165000 11ea8930_3280_361e_b375_bd5719fc1c3e_TB4213_11 = 3638.42
Property tax in Kimberly = 145000 11ea8930_3280_361f_b375_d5f33cce1602_TB4213_11 = 3642.98
The person in Kimberly pays $4.56 more in property tax.
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Page 3
Chapter 2: Review of Basic Algebra
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Sample Questions
Q1) Conor had to pay income taxes of $3 440.00 plus 22% of the amount by which his taxable income exceeded $36 000.00. If his tax bill was $3 684.00, calculate his taxable income.
Answer: Let the taxable income (in dollars) be x.
Then x - 36 000 is the amount that his income is greater than $36 000.
3440 + 0.22(x - 36 000) = 3684
3440 + 0.22x - 7920 = 3684
0.22x = 8164
x = $37 109.09
Q2) Solve: 5(8x - 2) - 5(3x + 5) = 36
Answer: 5(8x - 2) -5(3x + 5) = 36
40x - 10 -15x - 25 = 36
25x - 35 = 36
25x = 71
x = 2.84
Q3) Simplify: x + 0.16x
Answer: 1.16x
Q4) Evaluate: (-1)<sup>14</sup>
Answer: 1
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Chapter 3: Ratio, Proportion, and Percent
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Sample Questions
Q1) Mr. Singh needs to buy an airline ticket from Air Canada for C$1 480. How much would it cost him in india rupees? Use Table 3.2 on page 128 to answer the question.
Answer: Let the number of rupees be x. From the Table x × 0.0226 = 1480
x= 11ea8930_32d0_7855_b375_4377b9d445a5_TB4213_11 =65 486.73
Mr. Singh has to pay 65 486.73 india rupees for his C$1 480 ticket. Alternative solution is possible.
Q2) The Canadian CPI was 109.1 in 2006 and 114.4 in 2009 relative to the base year of 2002. Determine the purchasing power of the Canadian dollar for the two years, and interpret the meaning of the results?
Answer: Purchasing power of the dollar for 2006 relative to 2002 = 11ea8930_32d1_3baa_b375_49f65cc7c3bd_TB4213_11 (100) = 0.916590
Purchasing power of the dollar for 2009 relative to 2002 = 11ea8930_32d1_3bab_b375_0f61f533bb9b_TB4213_11 (100) = 0.874126
The dollar in 2006 could purchase only 91.7% of what it could purchase in 2002. In 2009, the dollar could purchase even less - about 87.4% of what it could purchase in 2002.
Q3) $189 is what percent of $4150?
Answer: R = 11ea8930_32c0_c163_b375_3b0c2bcc0b31_TB4213_11 = 4.5542%
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Page 5
Chapter 4: Linear Systems
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Sample Questions
Q1) Find the y-intercept for the following equation: 5y + 7 = 19
A) 2.6
B) 0
C) 2.4
D) 2.8
E) 3.0
Q2) Find the slope of the line: 4y = 5(y + 3)
A) 15
B) -15
C) 0
D) -5
E) 3
Q3) Graph: y = 8
Q4) Graph: y = -6
Q5) A machine requires 3 hours to make a unit of Product A, and 6 hours to make a unit of Product B. The machine operated for 195 hours producing a total of 40 units. How many hours were used to manufacture units of Product A?
Q6) Solve graphically: y = -x - 5 and x - y = 6
Q7) Graph: 2x - 4y = 10
Q8) Find the slope and y-intercept: 3x + 2y = 10
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Chapter 5: Trade Discount, Cash Discount, Markup, and Markdown
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Sample Questions
Q1) Export Ltd. received an invoice dated August 21 from Dutch Specialties of Amsterdam with terms 5/20, n/45 for:
10 wood trays at $37.45 each;
35 wood planters at $43.75 each;
50 wood bowls at $37.25 each.
All items are subject to trade discounts of 33.5%, 7.125%, 4%.
a) What is the last day of the discount period?
b) What is the amount due if the invoice is paid in full on September 6?
c) If only a partial payment is made on the last day of the discount period, what amount is due to reduce the outstanding balance to $1500.00?
Q2) A bicycle at Janice's sport shop, costing $108.50 was marked up to reflect 40% of the cost price. Calculate the selling price.
Q3) Encino Ltd. received an invoice dated February 16 for $520.00 less 25%, 8.75%, terms 3/15 E.O.M. A cheque for $159.20 was mailed by Encino on March 15 as part payment of the invoice.
a) By how much did Encino reduce the amount due on the invoice?
b) How much does Encino still owe?
Q4) Find the cost of a car sold for $25 000 to realize a markup of 8% based on cost.
Q5) A 47% discount allowed on an article amounts to $3.57. What is the net price?
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Chapter 6: Break-Even and Cost-Volume-Profit Analysis
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Sample Questions
Q1) A company that makes audio computer input devices has calculated their revenue and costs as follows for the most recent fiscal period: Sales $723 000
Costs:
Fixed Costs $345 000
Variable Costs 404 880
Total Costs 749 880
Net Income (Loss) $(26 880)
The company has a target level of profitability of $35,000 per fiscal period. What sales dollar volume do they have to achieve in order to achieve their goal?
A) $840 909.09
B) $616 071.43
C) $784 090.91
D) $863 636.36
E) $678 571.43
Q2) Trevor, the new owner of the vehicle accessory shop is considering buying sets of winter tires for $299 per set and selling them at $520 each. Fixed costs related to this operation amount to $3 250 per month. It is expected that 18 sets per month could be sold. How much profit will Trevor make each month?
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8
Chapter 7: Simple Interest
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Sample Questions
Q1) What sum of money will accumulate to $1 426.80 in eight months at 7.78%?
Q2) Debt payments of $1610.00 due today, $725.00 due in 101 days and $670.00 due in 296 days respectively are to be combined into a single payment to be made 170 days from now. What is that single payment, if money is worth 9.5% p.a. and the agreed focal date is 170 days from now?
Q3) What principal will earn $219.89 interest at 11.25% p.a. from November 16, 2013 to February 7, 2014?
Q4) Compute the amount of interest on $875.00 at 11.5% p.a. from May 29, 2013 to August 13, 2013.
Q5) A loan of $1000 taken out on January 1 requires equal payments on February 1, March 1, and April 1. If the focal date is April 1, what is the size of the equal payments at 6.0%?
Q6) The exact number of days between January 25, 2012 and March 25, 2012 is?
A) 59 days
B) 60 days
C) 61 days
D) 62 days
E) 63 days
Q7) In how many months will $4100.00 earn $192.29 interest at 7.5%?
Page 9
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Chapter 8: Simple Interest Applications
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Sample Questions
Q1) A note for $800 dated June 4, 2010, with interest at 8.25% p.a., is issued for 10 days. Determine
a) the legal due date;
b) the interest period (in days);
c) the amount of interest;
d) the maturity value.
Q2) A government of Ontario 364-day T-bills with a face value of $50 000 were purchased on January 2 for $48 000.76. The T-bills were sold on September 28 for $48 999.99.
a) What was the market yield rate on January 2?
b) What was the yield rate on September 28?
c) What was the rate of return realized?
Q3) Find the maturity value of a $473 note issued on October 4 at 8.5% for 190 days.
Q4) Find the maturity date and the maturity value of a $1 415.00, 5.25%, 220-day note dated February 25, 2012.
Q5) Find the maturity value of a $1 190, 7.275%, 120-day note dated February 5, 2013.
Q6) Find the maturity value of a 60-day, 4% note for $3000 note dated February 25, 2011.
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Page 10
Chapter 9: Compound Interest - Future Value and Present Value
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Sample Questions
Q1) You have an investment that will mature for $6825 in 57 months. You sell the investment 21 months before maturity. The discount rates used are 5.6% compounded quarterly for the first nine months of the discount period (from the date of maturity) and then 4.92% compounded monthly for the remaining discount period. How much did you sell the investment for?
A) $6262.54
B) $6232.54
C) $6223.54
D) $6632.54
E) $6666.54
Q2) You invest $6780 in a floating rate guaranteed investment certificate. For the first 30 months you earn 4.9% compounded semi-annually. For the next 8 months you earn 4.32% compounded monthly. What is the maturity value of the certificate?
A) $7775.44
B) $7785.44
C) $7857.44
D) $7875.44
E) $7888.44
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Chapter 10: Compound Interest - Further Topics
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Sample Questions
Q1) A five-year, $4500.00 promissory note with interest at 7.5% compounded semi-annually was discounted at 8% compounded quarterly yielding proceeds of $6150.00. How many months before the due date was the discount date?
Q2) What is the nominal rate of interest compounded semi-annually that is equivalent to an effective rate of 8.25%
Q3) In how many years will money triple at 6.4% compounded monthly?
A) 206.53 years
B) 17.71 years
C) 17.21 years
D) 1.48 years
E) 2.57 years
Q4) If the effective rate of interest on an investment is 7%, what is the nominal rate of interest compounded quarterly?
Q5) A financial obligation requires the payment of $250.00 in eighteen months, $350.00 in thirty months, and $300.00 in fifty-four months. When can the obligation be discharged by a single payment of $800.00 if interest is 5% compounded semi-annually?
Q6) At what nominal rate of interest compounded quarterly will $2000.00 earn $400.00 interest in three years?
Page 12
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Chapter 11: Ordinary Simple Annuities
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Sample Questions
Q1) Find the amount to which semi-annual deposits of $200.00 will grow in four years at 6.6% p.a. compounded semi-annually.
Q2) Calculate the present value of 120 payments of $50.00 made at the end of each of 120 consecutive months respectively if money is worth 12% compounded monthly.
A) $3485.03
B) $3485.02
C) $6000.00
D) $3000.00
E) $34 850.30
Q3) If a loan was repaid by quarterly payments of $715.00 over 7 years at 8.36% compounded quarterly, how much money had been borrowed?
Q4) What payment is required at the end of each month for 5 years to repay a loan of $20000.00 at 6.0% compounded monthly?
Q5) An installment contract for the purchase of a car requires payments of $570.60 at the end of each month for the next three years. Suppose interest is 11.8% p.a. compounded monthly.
a) What is the amount financed?
b) How much is the interest cost?
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Chapter 12: Ordinary General Annuities
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Sample Questions
Q1) What is the principal from which $279.00 can be withdrawn at the end of each month for 17.5 years if interest is 5.44% compounded quarterly?
Q2) A 22-year mortgage is amortized by payments of $1761.50 made at the end of each month. If interest is 9.65% compounded semi-annually, what is the mortgage principal?
Q3) How much should you invest today into account paying 3.2% compounded quarterly if you want to be able to withdraw at the end of every 3 month the amounts of money growing at a constant rate of 3% for the period of 5 years, if the first withdrawal is to be $100 five years three months from now?
Q4) A student bought a rental property for $40 000.00 down and monthly payments of $1000.00 for 5 years. What is the equivalent cash price if money is worth 5.75% compounded semi-annually?
Q5) How many deposits of $6 100.00 made at the end of every 6 months are needed to accumulate to $172 000.00 at 5.24% compounded quarterly?
Q6) A loan of $40 000.00 is to be repaid by equal quarterly payments for 5 years. What is the size of each semi-annual payment if the interest is 5.00% compounded annually?
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Page 14
Chapter 13: Annuities Due, Deferred Annuities, and Perpetuities
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Sample Questions
Q1) Roxanne contributes $167.00 at the beginning of every six months into an RRSP paying interest at 8.9% compounded semi-annually.
a) How much will her RRSP deposits amount to in 31.5 years?
b) How much of the amount will be interest?
Q2) Jack Chen makes deposits of $415.00 at the beginning of every three months. Interest earned by the deposits is 4.12% compounded quarterly.
a) What will the balance in Jack's account be after eight years?
b) How much of the balance will Jack have contributed?
c) How much of the balance is interest?
Q3) Flin Flon Aqua Club bought swimming equipment on a contract requiring monthly payments of $815.50 for 4 years beginning 11 months after the date of purchase. What was the cash value of the equipment if interest is 7.8% compounded monthly?
Q4) Carla Craig invested a retirement gratuity of $17 570.00 in an RRSP paying 6.5% compounded semi-annually for 11.5 years. At the end of 11.5 years, she rolled the RRSP balance over into an RRIF paying $1500.00 at the beginning of each month starting with the date of rollover. If interest on the RRIF is 9.5% compounded monthly, for how long will Carla receive monthly payments?
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Chapter 14: Amortization of Loans, Including Residential Mortgages
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Q1) The Acme Parts Company is repaying a debt of $15 000.00 by payments of $1410.00 made at the end of every three months. Interest is 7.2% compounded monthly.
a) How many payments are needed to repay the debt?
b) What is the size of the final payment?
Q2) John has agreed to purchase his partner's share in real estate by making payments of $5000.00 every three months. The agreed transfer value is $40000.00 and interest is 10% compounded annually. If the first payment is due at the date of the agreement, what is the size of the final payment?
Q3) A $248 000.00 mortgage amortized by monthly payments over 35 years is renewable after five years. Interest is 8.12% compounded semi-annually.
a) What is the size of the monthly payments?
b) How much interest is paid during the first year?
c) How much of the principal is repaid during the first five-year term?
d) If the mortgage is renewed for a further five-year term at 7.16% compounded semi-annually, what will be the size of the monthly payments?
Q4) A debt of $17 000.00 is repaid by quarterly payments of $1430.00. If interest is 6.12% compounded quarterly, what is the size of the final payment?
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Chapter 15: Bond Valuation and Sinking Funds
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Sample Questions
Q1) A $50 000.00, 6% bond with semi-annual coupons redeemable at par in 14 years is purchased to yield 8% compounded semi-annually. What is the gain or loss if the bond is sold four years before maturity at 99.25?
Q2) What is the purchase price of a bond that is issued on May 1, 2002 for 22 years at a coupon rate of 9.4% compounded semi-annually? The purchase date of the bond is May 11, 2007 and the yield rate is 8.5% compounded semi-annually. The bond has a face value of $5000 and is redeemable at par.
A) $4513.30
B) $5413.30
C) $5431.30
D) $4531.30
E) $4533.30
Q3) A $100 000.00, 7% bond with semi-annual coupons redeemable at 105 on November 1, 2001, is purchased on July 23, 1999, to yield 8% compounded semi-annually. Determine the quoted price.
Q4) A $50 000, 4% bond with semi-annual coupons is purchased three years before maturity. Calculate the discount or premium if the bond is sold to yield 6% compounded semi-annually.
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Chapter 16: Investment Decision Applications
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Sample Questions
Q1) A company spends $117 500 today and has positive cash inflows of $34 000 for each of the next 6 years. What is the Internal Rate of Return (IRR)?
A) 14.87%
B) 18.47%
C) 17.48%
D) 16.84%
E) 15.87%
Q2) A company is planning on investing the following monies. They spend Today -$26000, Year 1 -$7000, Year 4 -$11000, and Year 7 -$10100. Their cash inflows are Years 1-3 inclusive +$12000, Years 4-9 inclusive +$16000. What is their IRR?
A) 15.18%
B) 25.18%
C) 5.18%
D) 35.18%
E) 10.18%
Q3) The introduction of a new product requires an initial outlay of $610 000. The anticipated net returns from the marketing of the product are expected to be $92 300 per year for 12 years. Find the rate of return (correct to the nearest tenth of a percent).
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Page 18