Accounting Study Guide

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BUS 475 Final Exam Study Guide

1. The reason economists and accountants have problems using cost analysis in the real world is that

although implicit costs do not show up in accounting profits, they nevertheless affect managerial decisions

although explicit costs do not show up in accounting profits, they nevertheless affect managerial decisions

economists do not believe in the existence of explicit costs expilcit costs cannot be measured

Explanation: Implicit costs occur when an asset is used internally, rather than for direct cash flow. These costs affect decisions, but cannot be quantitatively measured.

2. The ____ as the number of levels in the organizational hierarchy increases.

span of control expands

span of control …show more content…

A valid contract must

use the title Contract at the top of the document

exist where all necessary legal elements for contract formation are present

be entirely in writing

be signed by all parties

21. What are the benefits of using IM in business communication?

Low cost

22. What are some rhetorical devices used in persuasive messages?

Syllogisms

23. Suppose that at the current price consumers would like to purchase 10 million large-screen televisions and 15 million are available. When the market coordinates the demand and supply for large-screen televisions, the price of large-screen televisions will

fall

24. The following is an example of a moral value judgment

I don’t deserve to be flunked for an honest mistake.

The senator dresses well

Keith Lewis must be a total flake.

As an actress. Paris Hilton has a nice clothes rack

Explanation: A moral judgment in the worth of a person or object.

25. Business environment pressures can come from which of the following?

Political changes

Quality Control

Management restructuring

Cost reduction

26. In a relational database, the customer record contains information regarding the customer's last name. The last name is a (an)

entity

attribute

primary key

relation

27. A standardized language used to manipulate data is

a data manipulation language

28. Research on the five-stage model of group development shows that

groups always pass through the stages in order

all groups pass through the

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