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NEW QUESTION 47
The best way to illustrate the entire distribution of numerical data for a single variable is with a
- A. pie chart
- B. bubble chart
- C. histogram
- D. heat map
Answer: B
NEW QUESTION 48
Identity two internal factors that enable the Food-To-Go division to have competitive advantages over Its competitors.
Essay
Food Depot Ltd (FDD is a privately-held company that provides catering services to airlines and operates several restaurant chains including fast food, casual dining, and fine dining restaurants FDL has been profitable m recent years and has a very strong cash position FDL's newest division. Food-To-Go. is an online meal ordering and delivery platform acquired by FDL two years ago.
In 20X7. sales for the entire company were SI billion, with 50% of the business coming from the Airline Catering division. FDL is the country's leading airline catering services provider and controls 60% of the market share. However, the outlook of the airline catering industry is gloomy. The compound annual growth rate of the industry for the past five years was only 0.5% as airline networks have increasingly dropped catering on short domestic flights.
The Food-To-Go division only contributed 5% of FDL's total sales in 20X7 and is far behind in competing for market share of the online meal ordering and deliver, industry. It is estimated that Food-To-Go's sales were only 20% of the industry leader's sales However, the outlook for the online meal ordering and delivery services industry is bright. The compound annual growth rate of the industry since it started three years ago was 50%. It is estimated the rapid growth of the industry will continue in the foreseeable future.
The costs of shared corporate services are allocated based on each division s revenue FDL usually caps its capital expenditure budget to 4% of budgeted sales revenue In a recent capital budget coordination meeting.
Smith Whitney, the head of the Airline Catering division. complained that his division is underfunded on capital projects . The budgeted capital expenditure had been much less than 4 % of the division's budgeted sales in the past three years He argued that his division is the company's best-performing division, and it needs more funds to maintain its market share m the industry Whitney wants to reduce the capital expenditure budget for Food-To-Go and reallocate those funds to his division.
Susan Wiley, the bead of Food-To-Go, does not agree that the Airline Catering division is the best-performing division in the company Wiley argues that her division had the highest ROI in 20X7. and it deserves more capital funding FDL's required rate of return is 12%. The selected financial data for the Airline Catering division and Food-To-Go division in 20X7 are as follows (in $ millions).
Answer:
Explanation:
See the Answer below in Explanation details.
Explanation
- Strong cash position
- Experience in food industry through amine catering division
NEW QUESTION 49
If a company s disaster recovery planning includes the use of a cold site the company will
- A. resume Its business processes immediately at a remote site with no preinstalled equipment
- B. restart its IT operations using the real-time mirroring performed at the cold site
- C. restore its IT function after equipment is made ready at a site with prewired IT access
- D. relaunch its major business processes from a site with preinstalled equipment
Answer: C
NEW QUESTION 50
The manager in charge of the disaster recovery plan for a company has ensured that there is off-site storage of key data programs, operating systems and documentation. Which one of the following is the best next step to be prepared for a disaster?
- A. She should create a planning document including a list of critical applications.
- B. She should enter into reciprocal agreements with alternative ''hot'' sites.
- C. She should make sure that everyone Knows the location of offsite data storage.
- D. She should ensure that the "cold" sites are fully equipped and ready.
Answer: C
NEW QUESTION 51
would you recommend any changes to the job responsibilities of ZFl's payroll administrator from an internal control perspective? Explain why.
Essay
Zhiliang Foods Inc. (ZFI) is a privately-held food distributor ZFI has two production departments' the Meat Department is labor-intensive. while the Bakery Department is highly automated ZFI applies a single overhead allocation rate, using the number of pounds produced as an allocation base for the whole company The expected annual overhead costs of ZFI for 100 million pounds produced are as follows (¥ in millions).
ZFI has one payroll administrator in its Human Resources department, but most of the payroll related work is outsourced to a payroll service provider ZFI's payroll administrator is responsible for tracking the list of current employees and maintaining the most up-to-date employee information, including bank accounts for payroll direct deposits.
Each pay period, the payroll administrator emails the information for all current employees' hours worked to the payroll service provider. The service provider then processes the payroll, makes direct deposits to employees' bank accounts, mails payroll stubs to employees' homes and emails payroll reports to ZFI's payroll administrator. The payroll administrator then makes payroll journal entries to ZFI's accounting system based on the payroll reports received ZFI's accountant prepares a bank reconciliation each month to ensure ZFI s payroll payments on ZFI's bank statement match the amounts shown on the payroll reports from the service provider.
ZFl's management is evaluating the purchase of data encryption software and human resources management software next year. The human resource management software is expected to provide various human resources and payroll-related functions.
In addition, the human resource software can generate a report to indicate the monthly employee turnover rate and the average service length of employees who have resigned. The system can also generate a report to indicate the main reasons for resignations and identify current employees who are at risk of resigning. The system will recommend actions to help retain these employees, such as more training opportunities or a pay raise.
Answer:
Explanation:
See the Answer below in Explanation details.
Explanation
The work of the payroll administrator is not supervised so he can add fake employees and get their salaries in account operated by him...... A supervisory or department heads should review his work before processing.
Secondly an accountant should be responsible for passing the entries rather than the administrator, the system lacks segregation of duties which can facilitate fraud and errors.
NEW QUESTION 52
In trying to predict the returns on the stock market, a novice investor collected data on the sightings of sperm whales off the eastern coast of North America and the performance of the Dow Jones Industrial Average (the Dow) A regression of the two variables resulted in a correlation coefficient of -0.90 or a coefficient of determination (r2) of 81%. The sightings of whales seemed to be negatively correlated with the performance of the Dow. The novice investor should
- A. conclude that this is an example of spurious correlation
- B. track the sighting of sperm whales and buy the Dow when sightings are low: conclude that sperm whale sightings are a strong indicator of poor performance of the Dow
- C. conclude that the poor performance of the Dow leads to high sightings of sperm whales
- D. conclude that there is a cause-and-effect relationship between the two variables
Answer: A
NEW QUESTION 53
Huaxia Manufacturing's standard cost card for product GH1 includes the following:
During the month of June, Huaxia produced 12,300 units. The purchasing department purchased 30,400 yards of fabric for a total cost of $100,320. The production department used 25.300 yards of fabric in June. What is Huaxia's direct materials price variance for the month of June?
- A. $2,450 unfavorable
- B. $11,770 unfavorable
- C. $14,220 unfavorable
- D. $6,080 favorable
Answer: D
NEW QUESTION 54
Comprehensive income is best defined as
- A. total revenues minus total expenses
- B. net income excluding realized gams and losses
- C. the change In net assets for the period excluding owner transactions
- D. the change in net assets for the period including contributions from owners and distributions to owners
Answer: C
NEW QUESTION 55
Sullivan Company's static Budget for the past year is shown below.
Sullivan actually sow 11.000.000 units throughout the year which was a quantity within its relevant range. The flexible budget net income that should be used to compare to actual results is
- A. $11,500,000.00
- B. $7,500,000.00
- C. $6,580,000.00
- D. $4,200,000.00
Answer: C
NEW QUESTION 56
Redstone, inc's budget indicated that it expected to sell 30.000 units of Product A and 90.000 units of Product B Budgeted unit contribution margins were $4 for Product A and $22 for Product B Redstone's actual sales were 28.000 units of Product A and 72.000 units of Product B with actual unit contribution margins of $3 25 and S23 50. respectively. Redstone's sales-mix variance was
- A. $54,000 unfavorable
- B. $78,000 unfavorable.
- C. $64,800 unfavorable
- D. $60,750 unfavorable
Answer: A
NEW QUESTION 57
Which one of the following statements describes now Section 302 of the Sarbanes-Oxley Act impacts a company's Internal control environment?
- A. Executives are more supportive since they certify their responsibility for the system
- B. The board s financial expertise improves because a financial expert is appointed
- C. Greater external scrutiny results because a new auditor must be appointed annually
- D. The auditor is more independent because non-audit services are prohibited
Answer: A
NEW QUESTION 58
Playtime inc. manufactures playground equipment and uses 60 board feet of lumber in each model no 643 produced The company, which anticipates selling 350 units of this model during April, plans to boost its finished goods inventory in April by 80 units in preparation for the peak summer season Playtime expects to manufacture 450 units in May Playtime has only 500 board feet of lumber on hand as of April 1 because of a temporary shortage, and typically maintains a lumber Inventory equal to 20% of the following month's production needs. On the basis of this information, how many board feet of lumber should the company plan to purchase in April?
- A. $31,200
- B. $31,900
- C. $30,700
- D. $31,700
Answer: C
NEW QUESTION 59
The price of gold is impacted by many variables A gold-mining company analyst wants to estimate the probability that the price of gold will decline by greater than 10%. Which one of the following approaches is the best analytic tool to use?
- A. Goal-seeking analysis
- B. Time series analysis
- C. Regression analysis
- D. Monte Carlo simulation
Answer: D
NEW QUESTION 60
Edward Pane is an external auditor who is seeking an understanding of the cash receipts process at his new client Pane decides to use a flowchart to analyze the operations for efficiency and control. Which one of the following statements is true with respect to the decision to use a flowchart for this purpose?
- A. Pane properly selected the flowchart as it will help to depict the process and identify any missing or inadequate controls
- B. Pane should not use a flowchart as it is used primarily after the risks have been identified
- C. Pane property selected the flowchart as a tool to match each of the risks to the corresponding primary control
- D. Pane should not have selected a flowchart as it is better suited to help with compliance testing of existing controls
Answer: A
NEW QUESTION 61
when considering data visualization elements, the incorporation or color, shape, size, or animation can be used to address
- A. multiple variables
- B. data myopia
- C. data distortion
- D. complexity
Answer: A
NEW QUESTION 62
Ingle Inc. has adopted a quality management program that considers all defects as avoidable and unnecessary The goal of this program is to have zero defects ingle uses a process costing system and has recognized the cost of normal and abnormal spoilage on its financial statements How will the new quality management program affect the accounting for normal and abnormal spoilage?
- A. There will be no effect
- B. All spoilage will be recognized as abnormal spoilage
- C. All spoilage will be recognized as normal spoilage
- D. All spoilage will be assigned to ending finished goods inventory
Answer: B
NEW QUESTION 63
Which one of the following is the least important for a successful budget process?
- A. The level of participation in the budget process
- B. Integrated budget software
- C. Top management support
- D. The degree of alignment between the budget and other performance goals
Answer: B
NEW QUESTION 64
Inherent risk factors involved in the revenue recognition process include each of the following except
- A. Industry factors that affect pricing, terms and discounts
- B. legal factors that affect product warranties, returns and liabilities
- C. computerization of the process by which sates receipts and credit memoranda are recorded
- D. breakdown of segregation of duties controls
Answer: D
NEW QUESTION 65
A heating. ventilation, and air conditioning (HVAC) company estimates that n takes a new team of technicians
100 labor hours to install its first HVAC system and that there is an 80% learning rate What are the estimated total labor hours for a new team to complete its first four installations?
- A. 295.
- B. 340.
- C. 256.
- D. 320.
Answer: C
NEW QUESTION 66
Which one of the following statements best describes data governance?
- A. Performance of data-based audits on a continuous basis
- B. The convergence of accounting data, finance data and information technology
- C. A process of securing all company data points, both structured and unstructured
- D. The union of data quality, data management, data policies, and risk management
Answer: D
NEW QUESTION 67
A building materials retailer uses a LIFO method of valuing its inventory. The company has just introduced a new product. The following is the activity for the first month of this new product.
* Purchase of 3,000 units on the 2nd of the month at $5.00.
* Purchase of 6,000 units on the 12th of the month at $4.80.
* Purchase of 2,000 units on the 31st of the month at $5 60.
* Sales of the product were 4,000 units on the 20th of the month.
Using the periodic method, the ending value of the inventory would be
- A. $35,200.
- B. $35, 800.
- C. $34,200.
- D. $35,000.
Answer: A
NEW QUESTION 68
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