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NEW QUESTION # 146
A company reported income before taxes of $800,000 for Year 2. The company did not have temporary taxable differences at the end of Year 1 but reported a net deferred tax asset of $6,000 for Year 2. The effective income tax rate is 30 percent. What amount should the company pay as income tax for Year 2?
- A. $241,800
- B. $240,000
- C. $234,000
- D. $246,000
Answer: D
NEW QUESTION # 147
A ski coach is interested in estimating the 68% confidence interval around the mean time (in seconds) of all the gold medal winners in Olympic downhill skiing. The coach collects the data, presented below, for all of the winners from 1948 to 2014. The mean of the sample is 122.5 seconds, with a standard deviation of 23 seconds. Which Excel function below is the BEST option for determining the 68% confidence interval?
Please note that the Excel functions for confidence intervals are =CONFIDENCE.NORM(alpha, standard_dev, size) and =CONFIDENCE.T(alpha, standard_dev, size).
- A. = 122.5 +- CONFIDENCE.T(0.32,23,18)
- B. = 122.5 +- CONFIDENCE.T(0.68,23,18)
- C. = 122.5 +- CONFIDENCE.NORM(0.68,23,18)
- D. = 122.5 +- CONFIDENCE.NORM(0.32,23,18)
Answer: A
NEW QUESTION # 148
Which of the following items can be found in the "Operating Section" of an indirect method cash flow statement? (Select all that apply.)
- A. Depreciation and amortization amounts
- B. Changes in inventory and accounts payable
- C. Issuance of common stock
- D. Purchases of property and equipment
- E. Cash paid in business combination
Answer: A,B
NEW QUESTION # 149
A company's 2013 year-end balance sheet included the following:
The company's net cash from operating activities on its 2013 statement of cash flows is $200,000. Current year depreciation expense is $25,000. What amount should the company report as net income for 2013?
- A. $230,000
- B. $175,000
- C. $130,000
- D. $170,000
Answer: D
NEW QUESTION # 150
A shop owner wants to determine the effect of a new marketing strategy on the number of customers visiting the shop. What information should the shop owner consider when deciding whether to conduct a one-sided or two-sided hypothesis testing?
- A. The calculated one-sided and two-sided p-values
- B. The significance level
- C. The objective of the hypothesis test
- D. Analysis of the actual samples collected
Answer: C
NEW QUESTION # 151
A company's Balance Sheet for the year ended Dec. 31, 2013 is as follows:
(In millions)
The company is MOST likely in which of the following industries?
- A. Commercial banking
- B. Pharmaceutical
- C. Civil aviation
- D. Retailing
Answer: A
NEW QUESTION # 152
Which of the following statements is NOT true regarding Company A? Exhibit:
- A. The efficiency in collecting receivables of Company A increased in 2013.
- B. The solvency of Company A increased in 2013.
- C. The profitability of Company A increased in 2013.
- D. The efficiency in using inventory of Company A increased in 2013.
Answer: D
NEW QUESTION # 153
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. Vacations
- B. Healthcare
- C. Clothing
- D. Charitable donations
- E. Computers
Answer: A,D
NEW QUESTION # 154
For a standard normal distribution (=0, =1), the area under the curve to the left of 0.37 is 0.6443. What is the probability of getting a value less than -0.37 or greater than 0.37?
- A. 35.57%
- B. 28.86%
- C. 71.14%
- D. 64.43%
Answer: C
NEW QUESTION # 155
What denominator amounts does an analyst use to calculate the common size balance sheet and income statement?
- A. Total assets and operating income, respectively
- B. Total assets and sales, respectively
- C. Owner's equity and sales, respectively
- D. Current assets and net income, respectively
Answer: B
NEW QUESTION # 156
An athletic shoe company is trying to establish a stronger brand identity with consumers. Its objective is to first understand, broadly, how consumers value its brand compared to its
competitors and then determine how much consumers value specific features of its competitors' products. Which of the following approaches would be MOST effective in gathering this information?
- A. Gradually lower prices to determine demand.
- B. Hold an auction to sell various models of the company's shoes.
- C. Conduct a focus group and then a survey.
- D. Conduct a survey and then run a conjoint analysis.
Answer: D
NEW QUESTION # 157
What transaction is presented in the above journal entry?
- A. Amortization of prepaid rent
- B. Rent paid in installments
- C. Payment of rent in advance
- D. Accrual for rent outstanding
Answer: A
NEW QUESTION # 158
A market research team conducted a pilot test for its new product. The team observed 50 volunteers and recorded their response scores. Using the sample mean and standard deviation, ahypothesis test was performed to see if the average response score was greater than 90. The team calculated a p-value of 0.0477. Which of the following statements is correct?
- A. Without a specified significance level, the p-value cannot be used as evidence to reject or accept the null hypothesis.
- B. The p-value shows that the probability the average score is more than 90 is 0.0477.
- C. The p-value shows that the probability the average score is less than 90 is 0.0477.
- D. The p-value is less than 0.05; hence, there is evidence to reject the null hypothesis.
Answer: A
NEW QUESTION # 159
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A manager at a large gold mining company is trying to determine how a series of recent events will affect the future of his industry.
The following events occur simultaneously:
Flooding damages several gold mines in a region.
The price of platinum, a substitute for gold, increases.
A new government policy mandates an increased wage rate for mine workers.
What should the manager expect regarding the new equilibrium price and quantity for gold?
- A. The equilibrium price increases and equilibrium quantity increases.
- B. The equilibrium price increases and the effect on quantity is unknown.
- C. The equilibrium price increases and equilibrium quantity decreases.
- D. The effect on price is unknown, and the equilibrium quantity increases.
Answer: B
NEW QUESTION # 160
A financial planning software company has earned large profits for the past four years, attracting new entrants to the market. What effect does the new competition have on the original company's market?
- A. Customers will become more sensitive to price changes.
- B. The company will be willing to supply less at any price.
- C. The company will increase the price of its software.
- D. Demand for financial planning software will become less elastic.
Answer: A
NEW QUESTION # 161
A journalist believes that it is possible to predict the number of Winter Olympic medals a country will win by analyzing the country's gross domestic product (GDP) per capita in the year prior to the Olympics. The journalist collects data on the 26 countries that won medals at the 2010 Winter Olympics and performs a regression analysis. The results for this regression are provided below.
Based on the model's coefficients, by how many thousands of dollars does GDP per capita in a country need to increase on average in order for the country to win one more Winter Olympic medal?
- A. 0.22
- B. 4.55
- C. 3.25
- D. 0.31
Answer: B
NEW QUESTION # 162
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