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MSB 201 MIDTERM 2 EXAM WITH COMPLETE SOLUTIONS 100% VERIFIED!!, Exams of Advanced Education

MSB 201 MIDTERM 2 EXAM WITH COMPLETE SOLUTIONS 100% VERIFIED!!

Typology: Exams

2024/2025

Available from 02/16/2025

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MSB 201 MIDTERM 2 EXAM WITH COMPLETE SOLUTIONS
100% VERIFIED!!
Select the best definition of fixed costs. - ANSWER Costs that are constant regardless
of changes in volume.
What is the basic CVP equation? - ANSWER Sales Revenue - Variable Costs - Fixed
Costs = Net Income
Given the following information, determine the sales price per unit required at an
anticipated sales volume of 15,000 units to achieve a net income of $80,000. They have a
total fixed cost of $25,000 and a variable costs ratio of 60%. - ANSWER 17.5
Select the example of a product costs. - ANSWER Direct Labor
Direct Materials
Manufacturing Overhead
Which of the following accounts is reported on the income statement? - ANSWER Tax
Expense
Which ONE of the following statements is TRUE regarding ACCRUAL accounting? -
ANSWER "Expense" is a measure of economic value consumed
Which of the following does NOT appear on an income statement? - ANSWER Interest
Payable
Which of the following is NOT presented on the income statement? - ANSWER Retained
Earnings
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MSB 201 MIDTERM 2 EXAM WITH COMPLETE SOLUTIONS

1 00% VERIFIED!!

Select the best definition of fixed costs. - ANSWER Costs that are constant regardless of changes in volume.

What is the basic CVP equation? - ANSWER Sales Revenue - Variable Costs - Fixed Costs = Net Income

Given the following information, determine the sales price per unit required at an anticipated sales volume of 15,000 units to achieve a net income of $80,000. They have a total fixed cost of $25,000 and a variable costs ratio of 60%. - ANSWER 17.

Select the example of a product costs. - ANSWER Direct Labor

Direct Materials

Manufacturing Overhead

Which of the following accounts is reported on the income statement? - ANSWER Tax Expense

Which ONE of the following statements is TRUE regarding ACCRUAL accounting? - ANSWER "Expense" is a measure of economic value consumed

Which of the following does NOT appear on an income statement? - ANSWER Interest Payable

Which of the following is NOT presented on the income statement? - ANSWER Retained Earnings

The balance sheet embodies which of the following basic accounting equations? - ANSWER Assets = Liabilities + Owners Equity

Owners Equity can be defined as: - ANSWER Common stock + Retained earnings

If a company's total assets amount to $150,000 and total liabilities and capital contributions amount to $70,000 and $20,000, respectively, then retained earnings must amount to: - ANSWER $60,

Given the following balances at the end of the year: Liabilities: $22,000 Retained Earnings: $4,000 Capital Stock: $8,000. Determine the total amount of assets: - ANSWER $34,

What is the effect on the financial statements if a cash dividend is paid to owners? - ANSWER Decrease assets and owner's equity, but no effect on liabilities

What is capital? - ANSWER Money

What is debt financing? - ANSWER Borrowing money from a creditor (i.e., bank) with the expectation that the company will pay them back. The creditor will not own any part of the business.

Which of the following financial statements is shown as of one specific date? - ANSWER Balance Sheet

Which of the following is NOT a way financial accounting information is used? - ANSWER Breakeven Analysis

Select the TWO critical conditions that must exist for financial statements to be useful. - ANSWER Comparability

puts into a project/investment

How do you calculate the NPV in Excel? - ANSWER The NPV formula - the initial investment

As seen in the TVM video, how much was the blu-ray player worth in 2006? - ANSWER $999.

A company should accept a project when the NPV is - ANSWER Positive

What is the pivotal question of finance? - ANSWER Is it worth it?

What is Present Value? - ANSWER What future cash flows are worth today

ABC Corp wants to buy a machine to produce umbrellas. The machine costs $130, and will cost $7,500 to install. Once in place, the machine will produce an income of $25,000 every year. ABC Corp expects to sell the machine after 5 years for $20, (ignore taxes). Given that the expected return is 2%, what is the NPV of this project? - ANSWER -1,548.

Lon and Laura want to save money for college for their 13-year-old twins. If they deposit $2,000 at the end of each year into a savings account earning 2% annual interest (compounded annually), how much would they have in the account after five years for their children? - ANSWER $10,408.

Billy Joe and Sally Mae want to withdraw $1,500 from their savings account at the end of each year for the next 4 years to help cover college tuition. How much must they deposit today into the savings account if they can earn 2.25% annual interest (Billy Joe and Sally Mae will have no money left in the account at the end of 4 years)? - ANSWER $5,677.

Your Aunt Bellatrix dies and leaves you $18,000. You decide to invest the entire amount into a stock-based, tax-advantaged mutual fund which is expected to average a return of 7.75% per year (compounded monthly). Also, you will invest an additional $200 at the

end of each month into the same account for the next 25 years. How much will you have in the mutual fund account after 25 years? - ANSWER $306,824.

Shawn and Sally invest $1,500 as a lump sum into a savings account with monthly compounding. If the average annual return of the account is 4.0%, how much will Shawn and Sally have in the account after 10 years to use for a family vacation to Europe? - ANSWER $2,236.

Which of the following are parts of the Human Resource Management Process? Select all that apply - ANSWER Job analysis and design

HR planning and forecasting

Employee recruitment

Employee selection

Training and Development

Performance planning and evaluating

Compensation and benefits

Employees' performance is most often reliant on what two overarching factors? - ANSWER Their abilities and motivation

______ structures are more rigid and group employees by function, products, processes, customers, or regions. _______ and team-based structures are more flexible and assemble employees to respond quickly to dynamic business environments. - ANSWER Traditional; Contemporary

Which of the following factors can cause work-place stress? - ANSWER Organizational Climate

Management Behaviors

Degree of Job Satisfaction or Dissatisfaction

The horizontal expansion of a job that increases the number and variety of tasks that a

National Security officers

State mental health director

A non-profit organization is purpose-driven. - ANSWER True

Know key concepts and applications of Accounting (in general), Balance Sheet, and Income Statement - ANSWER

Know the concepts and problems from 6.2 Balance Sheet Quiz and 6.3 Quiz: Income Statement Quiz - ANSWER

Know Liabilities, Owner's equity; Assets = Liabilities + Owners' Equity; Assets = Liabilities + Capital Contribution + Retained Earnings (basic accounting equation); management accounting, including debt ratio - ANSWER

Know key financial terminology (section 7.1) including: value, financial assets, certificate of deposit, bonds, stocks, etc. - ANSWER

Know key concepts of time value of money, or TVM (section 7.2) including: TVM and its formula, TVM and value, TVM keys to success, annuity, and perpetuities - ANSWER

Know ROI, NPV, and IRR (section 7.3) and key terms including: return, profit, ROI formula and how to calculate ROI, how to use the NPV formula and interpreting its results for good financial decisions, and the intuition behind IRR and what it means. - ANSWER

Know the concepts and problems from 7.4 Quiz: Finance Principles & Skills - ANSWER

Know key principles of Team Dynamics and Group Cohesiveness (section 8.2) - ANSWER

Know key principles of Motivation and Performance (section 8.3) - ANSWER

Know key principles of Organizational Design (section 8.4) - ANSWER

Know the concepts and problems from 8.6 Quiz: Human Resources (HR) & Org Behavior (OB) - ANSWER

Know what public admin. is and the main segments and concepts from the "iceberg" analogy / example on Publican Administration (section 9.5) - ANSWER

Know key aspects of Public Administration & Bureaucracies and their roles and responsibilities (section 9.6) - ANSWER

Know the differences between for-profit and non-profit organizations and hospitals (section 9.7) - ANSWER

Know differences between Public Administration & Business Administration (section 9.8) - ANSWER

Know the concepts from 9.9 Quiz: Public Administration - ANSWER

Know the key concepts of functionalism and how they are applied or manifest during efforts to accomplish the healthcare Triple AIM. - ANSWER

Know the key groups and markets of the Circular Flow Model or Diagram as they relate to the integrated experience on robotic surgery. Know what flows occur between these groups and markets. Know which groups and markets provide the main inputs and outputs in the model. - ANSWER

Know the concepts of specialization and division of labor as explored in the healthcare integrative experience on robotic surgery. - ANSWER