During the last year, an organization had an opening inventory of $300,000, purchases of $980,000, sales of $1,850,000, and a gross margin of 40 percent. What is the closing inventory if the periodic inventory system is used?
A. $170,000
B. $280,000
C. $300,000
D. $540,000
Which of the following is a type of network in which an organization permits specific users (such as existing customers) to have access to its internal network through the Internet by building a virtual private network?
A. Intranet.
B. Extranet.
C. Digital subscriber line.
D. Broadband.
The market price is the most appropriate transfer price to be charged by one department to another in the same organization for a service provided when:
A. There is an external market for that service.
B. The selling department operates at 50 percent of its capacity.
C. The purchasing department has more negotiating power than the selling department.
D. There is no external market for that service.
Which of the following statements is true regarding the use of public key encryption to secure data while it is being transmitted across a network?
A. Both the key used to encrypt the data and the key used to decrypt the data are made public.
B. The key used to encrypt the data is kept private but the key used to decrypt the data is made public.
C. The key used to encrypt the data is made public but the key used to decrypt the data is kept private.
D. Both the key used to encrypt the data and the key used to decrypt the data are made private.
Which of the following statements pertaining to a market skimming pricing strategy is not true?
A. The strategy is favored when unit costs fall with the increase in units produced.
B. The strategy is favored when buyers are relatively insensitive to price increases.
C. The strategy is favored when there is insufficient market capacity and competitors cannot increase market capacity.
D. The strategy is favored when high price is perceived as high quality.
Which of the following best describes the concept of relevant cost?
A. A future cost that is the same among alternatives.
B. A future cost that differs among alternatives.
C. A past cost that is the same among alternatives.
D. A past cost that differs among alternatives.
The activity that involves a trial run of a product in a typical segment of the market before proceeding to a national launch is referred to as:
A. Test marketing
B. Experimentation
C. Segmentation
D. Positioning
A software that translates hypertext markup language (HTML) documents and allows a user to view a remote web page is called:
A. A transmission control protocol/Internet protocol (TCP/IP).
B. An operating system.
C. A web browser.
D. A web server.
The first step in determining product price is:
A. Determining the cost of the product.
B. Developing pricing objectives.
C. Evaluating prices set by the competitors.
D. Selecting a pricing method.
Which of the following is a disadvantage of selecting a commercial software package rather than developing an applicationinternally?
A. Lack of flexibility.
B. Incompatibility with client/server technology.
C. Employee resistance to change.
D. Inadequate technical support.
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