Business and Finance Basics III and Statistics

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Exam Number: 060323RR Lesson Name: Business and Finance Basics III and Statistics

 

 

1.   Jangles Co. earned $1.80 per share. Assuming a closing price of $40, what is the PE ratio? (Round your answer to the nearest whole number.)
 

  A. 7
  B. 22
  C. 20
  D. 72
 

 

 
2.   A bond quote of 82.25 in dollars is equal to
 

  A. $8,025.50.
  B. $82.25.
  C. $8.25.
  D. $822.50.

 
3.   Personal property items do not include
 

  A. furniture.
  B. autos.
  C. jewelry.
  D. land.

 
.   Bauer Supply had total cost of goods sold of $1,400 with 140 units available for sales. What was the average cost per unit?
 

  A. $10
  B. 14.10
  C. $14
  D. $140

 
5.   Calculate the optional bodily injury cost for the following:

Class: 10 Optional Bodily Injury: 100/300/50
 

  A. $187
  B. $108
  C. $94
  D. $144

 
6.   The weighted-average method is best used
 

  A. only for grains.
  B. only for fuels.
  C. for homogeneous products.
  D. for heterogeneous products.

 
7.   What are overhead expenses?
 

  A. They’re directly related to a specific department.
  B. They contribute directly to the running of a business.
  C. They contribute indirectly to the running of a business.
  D. They’re directly related to a specific product

 
8.   Mike’s condo has a market value of $310,000. The property in Mike’s area is assessed at 40% of the market value. The tax rate is $145.10 per $1,000 of assessed valuation. The tax for Mike is
 

  A. $16,992.40.
  B. $7,999.40.
  C. $17,992.40.
  D. $7,999.30.

 
9.   An auto insurance premium may be partially based on the
 

  A. number of years one expects to drive a car.
  B. expected life of the car.
  C. attitude of the driver.
  D. make of the car.

 
10.   To avoid distortion of extreme values, a good indicator would be the
 

  A. mode.
  B. median.
  C. mean.
  D. weighted-mean.

 
11.   Suppose Department A is 8,000 square feet, Department B is 5,000 square feet, and Department C is 6,000 square feet. What is the percent of overhead expense applied to Department C? (Round your answer to the nearest whole percent.)
 

  A. 42%
  B. 32%
  C. 68%
  D. 26%

 
12.   The tax rate of $.6943 in decimal can be expressed per $100 as
 

  A. $69.43 mills.
  B. $69.43.
  C. $690.3.
  D. $6.943.

 
13.   Clay’s Fishing Shop’s beginning inventory is $70,000 and ending inventory is $36,500. What was Clay’s average inventory?
 

  A. $48,000
  B. $18,250
  C. $53,250
  D. $35,000

 
14.   Which one of the following statements is true of specific identification?
 

  A. Low-cost items aren’t used in this method.
  B. The specific purchase invoice prices aren’t used.
  C. Ending inventory isn’t associated with specific purchase prices.
  D. Flow of goods and flow of cost are the same.

 
15.   Find the mean for the following numbers and do not round your answer to the nearest whole number: 38 + 18.05 + 25 + 26 + 46
 

  A. 23.74
  B. 32.14
  C. 21.45
  D. 30.61

 
16.   Which one of the following items is subject to sales tax in the District of Columbia?
 

  A. Shampoo
  B. Milk
  C. Roast beef
  D. Tomatoes

 
17.   With net sales of $40,000, beginning inventory at retail of $14,000, ending inventory at retail of $20,000, and cost of goods sold of $19,500, what is the inventory turnover at retail rounded to the nearest hundredth?
 

  A. 5.23
  B. 2.35
  C. 3.25
  D. 5.15

 
 
18.   The range of 35, 22, 43, 18, 22, 27, 48, 39, 31, and 16 is
 

  A. 22.
  B. 32.
  C. 30.
  D. 29.

 
19.   The tax rate of $.0984 in decimal can be expressed as how many mills?
 

  A. 9.84
  B. 9,840
  C. 98.4
  D. 90.84

 
20.   Calculate the median from the following numbers: 16 + 9 + 10 + 5 + 4.
 

  A. 9
  B. 10
  C. 4
  D. 5

 

 

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