Categories
research paper for sale term paper writing service write my book report write my paper for me

al + hcl

HCL+Al=AlCl3+H2
What is the ionic equation,the spectator ions and the overall or net ionic equations?

0 0 756
asked by Timothy
Aug 18, 2012
I assume you means HCl(aq) and AlCl3(aq).
The balanced equation is
6HCl + 2Al ==> 2AlCl3 + 3H2

6H^+ + 6Cl^- + 2Al ==> 2Al^3+ + 6Cl^- + 3H2 is overall(total) ionic. Your post implies that that overall and net ionic equation are the same but the overall equation is the total. The net is the total minus spectator ions.

The net ionic equation is
6H^+ + 2Al ==> 2Al^3+ + 3H2

The spectator ions are those that appear in the overall ionic equation but not in the net ionic equation.

1 0
posted by DrBob222
Aug 18, 2012

Categories
custom term paper writing term paper help term paper writing service

cgs2100

Instructions

Read each task completely before attempting it. Some tasks contain multiple steps.

Exam Details

Incorrect actions allowed per performance task: 5

SAM exam can be retaken: Yes

SAM exam retakes allowed: 3

SAM exam retakes remaining: 3

You are about to start the exam. Once you begin, you cannot stop and restart it. Your exam receives a score whether or not you complete all the questions. Do you want to start this exam?

Categories
custom term paper writing term paper help term paper writing service writing a research paper

blue sky surf shop

Case A3: Abercrombie & Fitch: Hiring for Looks

Clothing retailer Abercrombie & Fitch often recruited on college campuses and in the mall to find attractive young people and then urged them to apply for jobs. This company, known for building an attractive workforce, did so by aggressively hiring pretty young women and handsome young men to match their all-American brand image. Abercrombie & Fitch refers to these great-looking sales associates as brand ambassadors. They project the retailer’s brand and make the store a better experience for customers.

Is seeking good-looking employees a necessary trend in the retail industry? Is hiring an attractive sales force a smart and necessary practice to differentiate the store in the competitive retail environment? Do salespeople need to mirror the images seen in the retailer’s catalog and home page? Does all-American mean thin, tall, and white with blonde hair and blue eyes? If the store has great-looking college students working in the store, will others want to shop there? How important are retail experience and ability versus a pretty face?

In seeking good-looking employees, companies are risking lawsuits for discriminatory hiring practices. Hiring attractive people is not illegal, but discrimination on the basis of age, gender, race, national origin, disability, or ethnicity is. Employers may establish and enforce grooming and appearance standards. Exceptions to Title VII are possible if the employer can prove that one of the protected characteristics is a bona fide occupational qualification.

In 2003, Abercrombie & Fitch was named in two class-action lawsuits alleging discriminatory hiring practices. Black, Asian, and Latino plaintiffs alleged that they were denied sales associated positions. These workers were directed to low-visibility jobs in the stock room or maintenances department.

Abercrombie & Fitch did not admit guilt and denies that it engaged in any discriminatory practices but settled these cases for $40 million distributed to several thousand minority and female plaintiffs. The company agreed to appoint a vice president for diversity, use benchmarks, train all hiring managers, and hire 25 diversity recruits in an attempt to alter its white, all-American image and more accurately reflect the applicant pool in its stores. The settlement also calls for Abercrombie & Fitch to increase diversity in its promotional materials.

DISCUSSION QUESTIONS

1. Why would Abercrombie & Fitch want to hire employees with a certain look?

2. From a business perspective, do you think this is a good idea? What about from an ethical perspective or a legal perspective?

Case A4: Salon-Only Hair Care Products Found Outside the Salon

High-end, salon-only hair care products have been showing up on the shelves at grocery stores, discounters, and drugstores. Premium brands such as Nexxus, Paul Mitchell, Redken, Rusk, and Sebastian are clearly marked with “For Sale in Professional Salons Only.” However, these brands are being sold through mass-market chains in addition to the exclusive salon-only channel. This practice is known as diverting products from the intended channel of distribution.

Is this practice illegal? Currently there is no legislation prohibiting mass retailers from selling premium brands. Because a strong gray market exists for professional hair care products, drug chains, discounters, and food retailers offer salon-only brands in the same health and beauty aisles as the mass-market hair care brands. These high-demand hair care lines are also available through online retail sites.

When beauty supply distributors or wholesalers break contractual agreements with manufacturers, the makers of salon-only brands lose millions of dollars and risk their exclusive brand image and reputation when their products are sold in stores. Improperly diverted hair care products are estimated to be valued at up to $800 million of the industry’s $29 billion in annual sales.

On the Paul Mitchell Web site (www.paulmitchell.com), the company is reminding customers to fight against the manufacturing, distribution, and retailing of counterfeit products through its Product Control Campaign. This education program is designed to warn customers of the possible danger of purchasing the Paul Mitchell brand from intermediaries other than professional salons. The risks associated with purchasing diverted products include possible tampering, expiration, contamination, or substitution.

DISCUSSION QUESTIONS

1. How do customers, manufacturers, salons, and retailers react to the practice of diverting “salon-only” products to discounters, drug chains, and grocery stores?

2. Will the education campaign launched by Paul Mitchell change where consumers shop for professional hair care products? Explain your rationale.

Case A5: SaksFirst Builds Customer Relationships

It’s Wednesday afternoon, and as usual, Gwendolyn has a fitting room ready for Mrs. Johnson. She has picked out some of the new items in Mrs. Johnson’s size that came in the previous week. She has everything from scarves to jewelry to shoes ready to go along with the outfits.

“Good evening, Mrs. Johnson. So how was your birthday?” Gwen asked.

“It was wonderful. My husband took me to Italy. Thank you for the card.”

“I pulled some new items for you to try on.” Gwendolyn said.

“Thank you, Gwen. You are the best!” replied Mrs. Johnson.

The reason Mrs. Johnson has such a friendly relationship with Gwen is because Mrs. Johnson is a regular customer and a SaksFirst member.

Saks Fifth Avenue started in the early twentieth century. Saks is considered the epitome of class, style, and luxury. When customers go to Saks, they receive excellent customer service, when they join SaksFirst – started in 1994 – they also receive a lot of additional benefits. SaksFirst is a preferred customer program that helps facilitate more personal customer sales associate relationships.

To become a member, a customer has to have a Saks Fifth Avenue credit card, and once she or he spends at least $1,000 a year, the customer is automatically enrolled. For every dollar spent, the customer will receive a reward point. At the end of the year, preferred customers receive 2, 4, or 6 percent in bonus points based on how much they charged that year above $5,000 at Saks.

SaksFirst customers receive many exclusive benefits. The tangible benefits include the points, rewards, and discounts. Customers also receive complimentary shipping and delivery for catalog and online orders, advance notice of sale events, the SaksFirst newsletter, catalogs, promotions and giveaways, double- and triple-point events, and double points on their birthdays. The intangible benefits include recognition and preferential treatment.

For the retailer, the main purpose of the SaksFirst program is to promote excellent customer service. The better the relationship between the customer and the sales associates, the more money loyal customers will spend. Every year there is a triple-point event in the first week of November. That one-day event accounts for the highest volume sales day of the year, higher than the day after Thanksgiving or Christmas. Knowing this, the company understands the importance of the preferred program.

The SaksFirst program can also be used by sales associated as a selling tool. If a customer is uneasy about purchasing large-ticket items, the sales associate can remind the member of the bonus certificate that will return a percentage of the cost. Sales associates are motivated to enroll as many of their customers as they can because they are given incentives such as “lottery tickets” that are redeemed for cash.

DISCUSSION QUESTIONS

1. How does SaksFirst build loyalty for Saks Fifth Avenue versus other upscale retailers (such as Nordstrom)?

2. How effective is the SaksFirst program in developing customer loyalty?

3. Whom should Saks target the SaksFirst program toward?

4. Is the SaksFirst program worth what it spends giving back to customers?

Case A6: Men’s Wearhouse: Adding Complementary Merchandise and Services to Bring Value to Customers

Men’s Wearhouse, Inc. is one of the largest discount men’s apparel companies in North America. The first location of this men’s specialty store was opened in August 1973 in a strip shopping center near Houston, Texas. Thirty years later, Men’s Wearhouse operates 693 stores in 44 states in America and 10 provinces in Canada under the Men’s Wearhouse, K&G and Moore’s brand names.

MERCHANDISE

Men’s Wearhouse sells high-quality men’s clothing at prices 20 to 30 percent lower than department stores. This retailer specializes in suits and other tailored business apparel. Other merchandise offered includes dress shirts, slacks, sports jackets, and sweaters. As many businesses moved to a more casual dress code, Men’s Wearhouse responded by increasing the casual dress code, Men’s Wearhouse responded by increasing the casual business clothing selections in its stores. This retailer offers both national branded attire and its own private-label brands. Men’s Wearhouse also sells accessories such as ties, belts, and shoes. In 1994, the company successfully added Big-and-Tall sizes to its product offerings.

LOCATION

Men’s Wearhouse stores are located in strip shopping centers adjacent to residential areas. This proximity to the shopper’s home is a benefit for customers who must visit the store twice, once to select a suit and a second time to pick up the garment after it has been altered. Locating outside of malls in strip shopping centers allows for a generous store size (between 4,000 and 4,500 square feet) while still controlling costs associated with rent. Executives at Men’s Wearhouse also observed that men prefer to stay away from a crowded mall when shopping for clothing.

PROMOTION

Men’s Wearhouse uses a variety of media to inform and remind customers about its stores, merchandise, and sales events. The company’s founder, Chairman, and CEO, George Zimmer, is the gravelly voiced spokesperson featured in both television and radio advertisements espousing the company’s memorable tag line, “You’re going to like the way you look. I guarantee it.”

SERVICES

Men’s Wearhouse is known for having a well-trained sales staff that can assist customers with their wardrobe selection. In addition to helpful sales associated, each tailored item can be brought back to the store for free pressing when needed. All stores have an in-house tailor to make the necessary alterations to ensure the desired fit for each garment. Another service offered at Men’s Wearhouse is the Perfect Fit Credit Card loyalty program. This frequent shopper program lets repeat customers charge their purchases, earn points toward discount coupons, and save 5 percent on all purchases placed on the card.

GROWTH STRATEGIES

One of the most profitable additions to the services provided by Men’s Wearhouse is the tuxedo rental business. Men’s formalwear has been offered since 1999 in the United States and represented $51 million in sales in 2003. This service offering has been so strong that in encouraged the company to expand the floor space in the stores, move into the dry cleaning arena, and being a test for women’s bridal wear.

Because tuxedos need to be dry cleaned between each prom and wedding party, Men’s Wearhouse quickly saw the importance of acquiring a dry cleaning chain and expanding into this business. Currently, the $7 billion dry cleaning industry is comprised primarily of small, single-facility, family-owned operations.

To launch the women’s formalwear concept, Men’s Wearhouse is test marketing two locations of its new bridal shop, Bride and Joy, in California. These stores will offer convenient shopping for the women in the bridal party including the bride, bride’s maids, and the mother of the bride. The test stores will be located next door to Men’s Wearhouses in approximately 3,000 square foot stores.

DISCUSSION QUESTIONS

1. Men’s Wearhouse successfully added tuxedo rental to its merchandise offerings in 1999. Now this retailer plans to add women’s bridal wear and the service of dry cleaning. List the pros and cons for each of these growth strategies.

2. What other merchandise and services could Men’s Wearhouse add to reach a new segment of the market, benefit customers, and grow its business?

Case A7: Borders Bookstore: A Merchandise Display Problem

Michael Chaim, general manager of the Borders Bookstore in Madison, Wisconsin, was proud of his store. Located in a city that has one of the highest levels of book purchases per capita, Chaim felt Borders’ selection; services and location near the 40,000-student university served the community well. Even with competitive pressure from the newly opened Barnes & Noble on the west side of town, his bookstore/café was often a busy place.

Chaim was taken aback when an article in a widely read alternative newspaper criticized the bookstore’s merchandise arrangement as being prejudiced. The store carries a large selection of literature and poetry, but it separates some specialty categories, such as African American literature, gay and lesbian literature and feminist literature, from the general literature and poetry sections. In part, this arrangement reflects Borders’ college town roots in Ann Arbor, Michigan, where specialty collections were established to match course offerings.

The article described this arrangement as “ghettoizing” authors who were not white males, though some female authors were in the general literature and poetry sections. The article and some follow-up letters to the newspaper’s editor derided Borders for the few “nontraditional” authors who made it into the general literature collection.

They felt that these African American, homosexual, Native American, and other nontraditional writers probably would not have been separated from the general collection had the management known the literature better. While Madison is known as a very liberal community, Chaim thought the accusation was unfair. He strongly believed that he was doing his customers a service in highlighting authors and literary genres that might be overlooked in a large, nondifferentiated collection. More immediately, he knew that he should respond to the article’s accusations.

Discussion Questions

1. Although Chaim has several options, one is to duplicate the titles that could be shelved in either the general literature collection or a specialty collection. What are the advantages and disadvantages of this tactic?

2. The Borders store described in this case is in a college town. How should the merchandise be arranged in a different location, such as a suburban residential location or a more urban setting?

Case A8: The Gap and Old Navy

donald fisher and wife launched The Gap in 1969. Initially, The Gap stores were unique in offering every size and style of Levi’s, arranged by size for convenience. When the teen-jean craze slowed in the mid-1970s, stores were repositioned for people interested in a fashionable, causal lifestyle. Donald Fisher, then CEO, and Mickey Drexler, then president, added other chains to The Gap portfolio of specialty apparel stores: Banana Republic and Old Navy. Banana Republic is positioned at the high end of the quality/price spectrum that includes the moderately priced Gap and the company’s newest chain, Old Navy, featuring the least expensive clothing.

For years, the flagship Gap stores, with $11.6 billion in sales and an estimated $1.1 billion in profits, made up more than a third of the entire company’s profits. But in May 1999, Gap began to lose the edge it had enjoyed for several years. Other competitors such as Abercrombie & Fitch and American Eagle Outfitter were beginning their assault on the fashion market with trendier clothes and better, more aggressive advertising campaigns.

For six consecutive months, sales at Gap stores fell to all-time lows, taking the stock price down with them. The apparel market was in a transitional phase that favored either high-priced designer-name fashions or the low-end wear that has consistently sold well. This trend was reflected in large sales increases in the high- and low-end Gap chains—Banana Republic and Old Navy were selling very well. The challenge for Gap was that it needed a new marketing plan without disrupting the strong sales of its other stores. Drexler was well aware of this fact and brought with him new and innovative ideas that the company desperately needed. Drexler, the Gap’s president since 1983, became the CEO in October 1999 when Robert Fisher, the president and son of the Gap founders, retired. The company’s stock immediately rose 10 percent on the news of Drexler taking over.

Mickey Drexler developed the concept for the Old Navy chain to cater to the new lifestyle of teens and young adults who want fashion but do not have much to spend on clothing. He selected the name for the chain after seeing it on a building during a walk around Paris. Old Navy is consistent with the growing strength of discount stores in apparel retailing. Consumers were predicted to spend $40 billion—nearly a third of their apparel dollars—at discount department stores, off-pricers, and factory outlets in 1999. It is not only price that drives consumers into discount stores for apparel. The industry has made great efforts in assortment, quality, and fashion. Discount stores have also come a long way in improving display, borrowing ideas from regular stores. In 1999, the Old Navy, with 16 percent of the stores, accounted for 35 percent of the sales of Gap Inc.

The Old Navy Clothing Stores have the same kind of merchandise as The Gap stores, but will be able to keep prices low by using lighter-weight, less expensive fabrics in addition to scaled-down store decor and lower-priced locations in strip shopping malls. Old Navy stores have unique design elements featuring 1950 Chevies and merchandise piled on old freezers.

Although half of all Old Navy stores are within a mile of a Gap, they take only 5 to 10 percent of Gap’s business, with all of the rest coming from elsewhere. As COO of Gap, Inc., John Wilson said, “It’s a temporary hit, but the volume comes back; we’d rather cannibalize our own business than have the competition do it.”

In April 1999, Jenny Ming was appointed president of Old Navy. Ming started her career at The Gap in 1986 as a buyer. Ming has a knack for predicting what hip-looking clothing will appeal to the masses and making big bets on producing large quantities to ensure that these items will be in stock. One of her early successes was dramatically increasing the sales of T-shirts by increasing the color assortment from six to a couple dozen and marketing them all year, instead of just in the summer. More recently she was the key force behind the explosive growth of fleece merchandise.

Old Navy’s new, four-story, 100,000–square-foot flagship store in San Francisco is its largest ever built. This store is similar to its 80,000–square-foot showplace in New York, with a deejay booth where shoppers can create their own CDs and a lower-level, fashion-forward, off-price department.

Discussion Questions

1.How do you think the growth of Old Navy will affect the sales in The Gap chain?

2.In the next five years, where should Gap, Inc., place the greatest resources: Old Navy, Gap, or Banana Republic? Why?

3.In what ways could the Gap chain enhance customer appeal and loyalty?

Case A9: Blue Sky Surf Shop—Twenty-One Years of Surfing and Still Going Strong

Blue Sky Surf Shop in St. Augustine, Florida, is owned and operated by husband and wife Dave and Nancy Macri. After surfing in St. Augustine for several years, the Macri’s, who are originally from the gulf side of Florida, decided to start their business in 1979 in what was then a small, low-key surfer’s town. Located on Anastasia Blvd. (the main route through Anastasia Island and a direct road to the beach), the shop is not out of sight but is easily missed if one is not looking for it. This is not a disadvantage to the store because (unlike most businesses in tourist-dependent St. Augustine) Blue Sky relies on local surfers and word of mouth for 90 percent of its business. Surfers from Jacksonville, Gainesville, Daytona Beach, and the west coast of Florida flock to St. Augustine for the consistent waves, clean water, and wide open beaches, and all rely on Blue Sky for surf accessories.

Blue Sky receives most of its business from males between ages 10 and 25 as opposed to a lot of larger, more diversified surf shops that also carry camping, kayaking, and fishing equipment aimed at the adult and family markets. Unlike many surf shops that cater to multi-sport lifestyles, Blue Sky has remained true to the hardcore surfer by carrying products that are solely related to surfing and the lifestyle that accompanies it. This customer demographic demands very knowledgeable service and high-quality products. All the employees at Blue Sky are avid surfers; some are even past or presently sponsored by companies. This gives them a huge advantage with customers who know what they want and are very fast at spotting below-par products and service. A very large portion of the competition employs almost any teenager or young adult willing to work, many of whom have never surfed.

Customers entering Blue Sky, see surf videos constantly playing on a television monitor, over 200 brand new surfboards neatly displayed on floor racks, and the best brand name clothing. This quickly tells them they are in the best possible place to suit their needs. Just as back in 1979, when the store was a mere 600 square feet, it’s dedicated to maximizing every inch for surfers needs. The store is now 1,800 square feet and Blue Sky consistently carries roughly 250 new and 60 used surfboards, more than any other shop in northeast Florida. Going into its 21st year of business, Blue Sky has perfected the concept of quality products and service while staying true to its original clientele, no matter what the rate of expansion.

Although the majority of surfers are male, Blue Sky has always been aware of the female surf market. However, unlike most of its competition, it does not waste space with hundreds of interchangeable bikinis and swimwear. It sells functional bathing suits, surf trunks, wetsuits, and anything else a female surfer could possibly need. Even though the female market may be smaller, Blue Sky is and always has been about supplying anyone that truly loves to surf.

With more and more surf shops popping up in St. Augustine, many of which have large advertising budgets, Blue Sky need not worry about losing customers; 21 years of solid no-frills service has built an extremely loyal customer base. You couldn’t put a price tag on the store’s word-of-mouth reputation. It does occasionally advertise in local newsletters and newspapers, but at a fraction of the cost of any competition. A very smart idea to further satisfy customers and to add to its exposure is Blue Sky’s free surf report. Many other surf shops and companies have 1-900 telephone numbers that give you surf conditions, surf forecasts, water temperature, and tides, but most of these lines cost between fifty cents and a $1.25 per minute for their services. Blue Sky provides this valuable service absolutely free. This exemplifies the ability of Blue Sky to do small but highly effective things to evolve and satisfy, yet always keep in tune with the original philosophy of being the “surfer’s surf shop.”

Discussion Questions

1. What is the target market of Blue Sky Surf Shop?

2. What role has location played in the long-term success of Blue Sky?

3. How has Blue Sky achieved long-term success with minimal advertising?

Case A10: Cleveland Clinic

For years, Ohio’s Cleveland Clinic has ranked with the top world-class providers of medical care. It pioneered coronary bypass surgery and developed the first kidney dialysis machine. King Hussein of Jordan used the clinic, as does the royal family of Saudi Arabia.

Big-name health care institutions like the Cleveland Clinic are after new markets for their state-of-the-art medical care, and are posing a new threat to local physicians. The expansions are also disrupting traditional relationships between physicians and their patients, physicians and their hospitals, and physicians and their fellow physicians.

Like any business, the Cleveland Clinic keeps close tabs on its core market, and the outlook wasn’t all that bright. Seven Midwestern states provided 90 percent of the clinic’s business, though population growth in that region is expected to be flat through the year 2010. But not so southeastern Florida, where the population is still growing and, in many areas, is highly affluent. Southeastern Florida appeared to be a dream market. Yachts lining the canals of the Intracoastal Waterway and a ubiquitous building boom reflect wealth and growth so palpable that clinic officials have come to call it immaculate consumption. Moreover, about 20 percent of the 3.7 million residents in Dade, Broward, and Palm Beach counties are over 65 years old. About 50 percent of the population is over 45—a potential mother lode of patients. “We felt there was room for us,” Dr. Kiser, CEO of Cleveland Clinic, said. “We decided to go on our own rather than wait to be invited.”

When the Cleveland Clinic opened an outpatient clinic in South Florida, a war broke out. In a full-page advertisement in the Miami Herald,Dr. Seropian, a local physician, pulled out the stops. He likened the clinic to dingoes (wild Australian dogs) that roam the bush, eating every kind of prey. The clinic filed suit in federal district court in Fort Lauderdale, charging, among other things, that some physicians had conspired to hamper its entry into Broward County.

Famous medical institutions like the Cleveland Clinic and Mayo are victims of their own success. Many of the once-exotic procedures that they invented are now routinely available across the country, reducing patients’ need to travel to the medical meccas. For instance, the Cleveland Clinic might once have had a hold on coronary bypass surgery, but no more. In 2000, more than 350,000 patients had the operation at hospitals throughout the United States.

“These clinics used to be the court of last resort for complex medical cases,” says Jeff Goldsmith, national health care advisor to Ernst & Young, the accounting firm. “Now, the flooding of the country with medical specialties and high technology equipment has forced them to adopt a different strategy.”

Their expertise and reputation mean formidable competition for the local medical community. “On one level,” says Jay Wolfson, a health policy expert at the University of South Florida in Tampa, “it’s like bringing in a McDonald’s. If you’re a mom-and-pop sandwich shop on the corner, you could get wiped out.”

Discussion Questions

1. Compare the Cleveland Clinic to traditional retailers.

2. What was its retail mix?

3. What factors in its environment resulted in it changing its retail mix?

Case A11: Niketown

Some things don’t need much explanation. When you see the Golden Arches, you think of McDonald’s. When you see a swirling a swirling red, white, and blue sphere, you think of Pepsi. And when you see the curvy little swoosh, “Just do it” comes to mind.

With so many nontraditional shopping alternatives competing for the customer’s attention, a key to survival in the 90s is retailers’ ability to maximize their in-store environments. Customers are bored with ordinary shopping experiences. Convenience and price aren’t enough. They want to be entertained.

With this in mind, Niketown was developed to create brand awareness about Nike as a company in an informative and fun way. It was established to promote a lifestyle as much as the product. “We wanted to engage the customer in both our products and the sport and fitness lifestyle that Nike represents,” said Mary Burns, director of operations at Nike in Beavertown, Oregon.

There are six Niketown stores in operation: in Portland, Oregon; Chicago; Atlanta; New York City; Costa Mesa, California; and San Francisco’s Union Square. The stores are tourist attractions and it’s easy to see why. If you were to visit the Portland store (the original Niketown), this is what you would see: Flying superhumanly above the square is a life-sized statue of Michael Jordan. Nearby are other statues: Bo Jackson lifting weights and Andre Agassi running to smash a tennis ball. Niketown’s background design is Disney like characters and the city of the future, featuring the cartoon show “The Jetsons.” Fourteen small, themed salesrooms, which Nike calls pavilions, feature an array of sports shoes and apparel for everything from tennis to hockey.

The majority of the pavilions feature the sounds associated with that sport. If you enter one basketball pavilion (The Flight Pavilion), you’ll hear the distant sound of basketballs bouncing on hardwood floors. If you enter the tennis pavilion, you’ll hear the sounds of the racket smashing against the little yellow ball.

In the Land of Barkley, named after basketball player Charles Barkley, basketball hoops hold up display shelves, and basketballs support benches. The sounds being played are shoes squeaking on hardwood. The actual floor is hardwood so “wannabe” Barkleys can pull on a pair of shoes and squeak them on the floors like the big guys. The tennis pavilion features a sunken, miniature tennis court; its most popular piece is John McEnroe’s broken racket. There’s even a kid’s pavilion, with bootie-sized air Jordan lookalikes and a measure on a wall that shows the height of Jordan’s leap. At 40 inches, it’s higher than some of his small fans’ heads.

Even with all of this, one of the biggest attractions is the swim and volleyball area. The seats are surfboards. There’s an aquarium with tropical fish and the floor features a center section designed to simulate a glass-bottomed boat, with videos of the sea life playing.

Nike cares that customers carry away fond memories of the brand rather than only a new pair of sneakers. “Niketowns provide Nike the opportunity to present the full scope of Nike’s sports and fitness lines to our customers and to educate them on the value, quality, and benefits of Nike products,” said Bruce Fabel, vide president of Nike’s Retail Division. “Our research indicates customers who do not make a purchase at Nike Town will be more likely to buy Nike in the future from one of our retail accounts in the area.”

Nike is not the only company pushing its own stores. A growing number of big-name manufacturers are turning into mainstream merchants, opening flashy stores called flagship stores all over the nation. Swimsuit maker Speedo, children’s clothing company Oshkosh B’Gosh, and shoemaker Nine West are just a few that are opening stores similar to Niketown, showcasing their brands and enhancing their image.

Discussion Questions

1. Why are manufacturers like Nike opening their own retail outlets?

2. How will consumers and retailers that sell Nike merchandise react to these new stores?

Case A12: Simon and Smith

Background information

The partners of Simon and Smith, a mediumsize specialty store for women in Brookline, Oregon (population 250,000) were having their annual afterChristmas hearttoheart talk about their store’s direction. They had just completed their best year ever, their bank balance was high, and the two men were looking forward optimistically too more prosperous years.

Bill Simon said to partner Phil Smith, “We seem to be doing everything right. Our customers have been loyal to us these past 15 years, there’s no competition around that can touch us, and we have the best location and best reputation in the area. I think we can look forward to another year of the same formula–hard work, careful planning, intelligent merchandising, and good employee practices. We’ve got a real winner.”

Smith was less sanguine. “You know, Bill, the population of Brookline is growing. I just heard a big hightech firm is planning to open a plant near here, and that food processor in Eugene is planning to consolidate operations here. That’s going to bring a lot more people to this area, and I wouldn’t be surprised if before long some shopping center developer discovers our area. We’ve had it pretty easy all these years, and I’d hate to see us get too complacent and then have to give business away to a competitor. Our customers are getting older, and we’re not doing anything much to attract younger people. Our customer profile is between 35 and 50, and next year, it’ll be between 36 and 51. I suggest we give some serious thought to attracting younger women, so we’ll be prepared when the competition comes.”

Simon said, “Why play with a successful formula? Our misses departments produce 60 percent of sales and nearly 80 percent of profits. If we try to expand our junior business, we’ll get killed. We don’t understand that business, and if we start in with loud music and gaudy displays, we’ll drive our loyal customers away.”

“Bill, don’t be an ostrich. We could easily take part of the store and wall it off, maybe even break through a separate entrance. Those old ladies won’t even know there’s anything else going on. If we don’t, I guarantee you that our population will age as the market is increasing, and we’ll lose out.”

Discussion Questions

1. Analyze each partner’s position. What additional information might be useful to justify each opinion?

2. What are the alternative courses of action Simon and Smith can take? Give advantages and disadvantages of each alternative.

3. Make a recommendation for Simon and Smith’s future.

Categories
custom thesis term paper writing service thesis help

capstone final examination part 1

PART 1

1. Fred takes Betty to dinner at a very expensive and exclusive restaurant. The menu does not mention prices. The server takes their order, and both Betty and Fred enjoyed the meal immensely. When the bill comes, Fred refuses to pay because the menu had no prices and because he and the server never engaged in language indicating an offer and acceptance. The server said, “Are you ready to order?” and when Fred said “Yes,” the server merely asked, “What may I get you tonight?”

Fred must pay based on a promissory estoppel theory.

Fred must pay based on expressed contract theory.

Fred is correct because no contract was formed.

Fred must pay based on an implied-in-fact contract theory.

2. The DeBeers company is a profit-maximizing monopolist that exercises monopoly power in the distribution of diamonds. If the company earns positive economic profits this year, the price of diamonds will:

Be equal to the average total cost of diamonds.

Exceed the marginal cost of diamonds but equal to the average total cost of diamonds.

Be equal to the marginal cost of diamonds.

Exceed both the marginal cost and the average total cost of diamonds

3. Jay stops at the shopping mall to purchase a new pair of jeans from the Diesel store.  He is the ultimate consumer in a pipeline from the producer through intermediaries, including the clothing store.  This pipeline is actually a__________.

marketing tunnel

consumer market

marketing channel

distribution matrix

4. A monopoly firm is different from a perfectly competitive firm in that:

A monopolist’s demand curve is perfectly inelastic whereas a perfectly competitive firm’s demand curve is perfectly elastic.

A monopolist can influence market price whereas a perfectly competitive firm cannot.

A competitive firm has a u-shaped average cost curve whereas a monopolist does not.

There are many substitutes for a monopolist’s product whereas there are no substitutes for a competitive firm’s product.

5. A 911 emergency response service needs operators who are bilingual in English and Spanish. A few applicants of Spanish origin are rejected due to poor English-speaking skills. They file a complaint on the grounds of discrimination based on nationality. Their complaint is squashed. Here, the defense of the federal government is on the grounds of:

Circumstantial evidence

Inculpatory evidence

Exclusionary rule

Bona fide occupational qualifications

6. In order to focus your presentation on people, you should______. 

avoid using presentation software or other technology

use a lot of “I” statements

make individuals and groups the subject of your sentences

include as many photographs as possible in your slides

7. Which of the following is typically included in the drafting stage of writing an effective business message?

Setting a positive and other-oriented tone

Sending the message to be proofread

Double-checking everything

Identifying the primary message and key points

8. Marketing refers to__________.

the activity for creating, communicating, delivering, and exchanging offerings that benefit its customers, the organization, its stakeholders, and society at large

the process of identifying target market segments for a product or service

the activity involved in getting a product or service from the manufacturer to ultimate consumers and organizational buyers

the production of products or services that will generate the highest return on investment

9. Lori is using secondary research to develop a business report. How can she write her report in a way that demonstrates originality in thought? 

Cite all her research sources

Use the most current documentation guidelines

Generate her own conclusions and recommendations

Adopt a methodical approach to decision making

10. Annie, an employee who often attributes her team failures to bad luck, attributes other teams’ failures to personal shortcomings. Which of the following cognitive biases do Annie’s attributions exemplify?

Self-deception bias

Belief bias

In-group bias

Hindsight bias

11. When does the straw man fallacy occur?

When a person tries to disprove a claim based on its source.

When a person falsifies or overstates an adversary’s position.

When a person considers only 2 alternatives even when other options are available.

When a decision maker dismisses an alternative that fails to solve the issue completely.

12. Which of the following types of unemployment is considered to be the most controllable through demand-side macroeconomic policy?

Cyclical unemployment

Natural unemployment

Structural unemployment

Frictional unemployment

13. Microeconomics and macroeconomics are:

Interrelated because both are often taught by the same instructors

Interrelated because what happens in the economy as a whole is based on individual decisions

Virtually identical, though one is much more difficult than the other

Not related because they are taught separately

14. Article 6 of the Treaty on European Union called the Maastricht Treaty states the EU is “founded” on:

specific performance

stare decisis

private markets

rule of law

15. Which of the following is the path through which contractionary monetary policy works?

Money down implies interest rate up implies investment up implies income down

Money down implies interest rate up implies investment down implies income down

Money down implies interest rate down implies investment down implies income down

Money down implies interest rate down implies investment up implies income down

16. The depreciation of currency will:

improve a country’s comparative advantage.

worsen a country’s comparative advantage.

balance a trade surplus.

have no impact on a country’s comparative advantage.

17. Marketing research refers to__________.

The use of information technology to find objective solutions to a marketing problem

the process of systematically collecting and analyzing information in order to define a marketing problem

the process of defining a marketing problem and opportunity, systematically collecting and analyzing information, and recommending actions

the science of using observable human behavior in order to identify and solve marketing problems

18. _____ is the process of converting meaning into messages composed of words and nonverbal signals.

Translating

Decoding

Encoding

Filtering

19. If a population is known to be normally distributed, what can be said of the sample distribution of the sample mean drawn from this population? 

For a sample size n < 30, the sampling distribution of the sample mean is normally distributed.

For a sample size n > 30, the sampling distribution of the sample mean is normally distributed.

For any sample size n, the sampling distribution of the sample mean is normally distributed.

For a sample size n < 50, the sampling distribution of the sample mean is normally distributed.

20. Sam, a marketing manager, often makes ethical decisions based on what others feel about those decisions. He often considers opinions from other managers and employees.  Which of the following ethical systems do Sam’s decisions follow?

Consequentialism

Utilitarianism

Relativism

Egoism

21. Federal law and business leaders alike favor ____________ as a means of governing private business ethics.

Self-regulation by companies

Establishment of federal regulators in all private companies to establish and enforce ethical standards.

Giving the federal government exclusive jurisdiction regarding ethics and ethics violation enforcement.

Creating uniform statutes of business ethics.

22. Which of the following statements is true of the WARN Act?

It requires employers to give notice to an “at will” employee that he/she is being fired.

It requires employers to give notice of a scheduled mass layoff.

It requires employers to give notice to employees that they are being subjected to polygraph tests.

It requires employers to give notice to employees that an unscheduled drug test will be conducted for all employees.

23. According to the Ajzen model, the strongest predictor of an employee’s behavior is/are__________. 

social norms

the employee’s values

the employee’s attitudes

the employee’s intentions

24. The interdisciplinary field dedicated to understanding and managing people at work is called:

management dynamics

management theory

organizational behavior

organizational dynamics

25. Regarding using personality testing as part of the hiring process, experts have concluded that:  There are many valid instruments available to managers to test for personality types.

Only the Big Five should be used as predictors of job performance.

The typical personality test is not a valid predictor of job performance.

The effects of personality on job performance are so large it cannot be ignored by managers.

26. In the context of developing persuasive messages, which of the following is most likely to help you demonstrate a voice of competence?

focusing only on logical appeals

using only emotional appeals in your persuasive messages

developing strong ideas in the interest of your audience

adopting the tone of mass advertising such as over-the-top appeals

27. Identify an example of spontaneous creativity.

Settling a disagreement quickly in a simple way.

Modifying the strategies and procedures of a group.

Establishing win-win relationships with other people.

Organizing annual meetings and get-togethers innovatively.

28. Alex is playing his music at full volume in his dorm room. The other people living on his floor found this to be a nuisance, but Alex doesn’t care. Alex’s music playing is an example of:

positive externality

normative externality

negative externality

Pareto externality

29. Which of the following is useful advice on conducting business across cultures with those who have limited English ability?

Speak at your normal, regular pace instead of speaking slowly as this may be viewed as disrespectful.

Determine a person’s level of communication proficiency within the first few moments of your interactions with them.

Use slang and jargon instead of literal language as much as possible.

Allow those with limited English ability enough time to process their thoughts into English.

30. Joyce finds that the members of the project team to which she has been assignment in her management class are all athletes on the college’s football and basketball teams.  She immediately considers dropping the class because she thinks her experience with that team will be negative.  Joyce is likely reacting to a__________.

semantic memory

negativity bias

stereotype

self-serving bias

31. The distinction between flexible and fixed individual differences__________. 

is that managers should hire people based on their attitudes and emotions

is that managers have little or no impact on fixed differences

has no practical value for managers

is that managers have little or no impact on flexible differences

32. Advertising, personal selling, sales promotion, public relations, and direct marketing are marketing communications alternatives that make up a firm’s __________.

promotional mix

communication source

marketing mix

media strategy

33. When two regression models applied on the same data set have the same response variable but a different number of explanatory variables, the model that would evidently provide the better fit is the one with a__________. 

higher coefficient of determination and a lower adjusted coefficient of determination

lower standard error of the estimate and a higher adjusted coefficient of determination

higher standard of error of the estimate and a higher coefficient of determination

lower standard error of the estimate and a higher coefficient of determination

34. Suppose farmers can use their land to grown either wheat or corn. The law of supply predicts that an increase in the market price of wheat will cause:

farmers to lower the production of corn and wheat.

farmers to substitute wheat for the production of corn.

farmers to substitute corn for the production of wheat.

farmers to raise the production of corn and wheat.

35. Under the regulations of interstate commerce:

Activities affecting interstate commerce do not come under the power of the deferral government.

Intrastate activities affecting interstate commerce can be regulated only by the state governments.

Regulation on any activity is appropriate if it aids interstate commerce.

The states have the exclusive power to commerce that passes that passes across their lines.

36. What is the main drawback to the Negotiation & Agreement strategy for overcoming resistance to change?

ineffective

too expensive if others decide to also negotiation for compliance

leads to future problems if people feel manipulated

time-consuming

37. Your résumé should tell a story of______. 

everything you have learned and done in your previous job

the value you can provide to a company

Your educational accomplishments

how you plan to improve your areas of weakness

38. A receptive developmental network is__________

made up of weak ties to multiple developers from a variety of social systems

made up of numerous strong ties to developers from one social system

made up of strong ties to several developers from four different social systems

made up of a few weak ties from one social system

39. According to the Classical growth model, an economy that increases its saving will grow:

Quickly since the increase in saving will permit more rapid technological progress.

Slowly because interest rates will fall, causing investment to decline.

Slowly because consumption and aggregate demand will be reduced.

Quickly since the increase in saving will permit greater investment.

40. What is true of the features used to judge a person’s credibility?

Mannerisms and age are two valid features that can be used to judge a person’s credibility.

Well-educated individuals can be highly relied upon as guides to ethical values.

Ethnicity, gender, and accent are inapt characteristics for judging credibility.

Individuals can accurately determine a person’s credibility based on physical characteristics.

41. Identify the statement that accurately describes the Sarbanes-Oxley Act.

It requires business to have only company insiders as board directors.

Unlike other Acts, its violations do not result in fines or prosecutions.

Complying with the act saves time and money, but deteriorates efficiency.

It was passed to promote business ethics by creating legal requirements.

42. Frequent, abusive, threatening phone calls by creditors are most likely to provoke the basis for a claim of _____________.      

misrepresentation

malicious representation

intentional infliction of emotional distress

false imprisonment and malicious prosecution

43. In order to summarize qualitative data, a useful tool is a____________.

scattergram

stem-and-leaf diagram

frequency distribution

histogram

44. The product life cycle refers to __________.

a concept that describes the stages a product goes through in the marketplace — introduction, growth, maturity, and decline

the average life span of a product

a concept that describes the stages a product goes through in the marketplace—early growth, accelerated development, maturity, and decline

a concept that describes the stages a new product goes through from product concept to commercialization

45. The study of similarities and differences among consumers in two or more nations or societies is referred to as __________.

cross-cultural analysis

international sociographics

market synthesis

transnational anthropology

46. Other things held constant in a competitive labor market, if workers negotiate a contract in which the employer agrees to pay an hourly wage of $17.85 while the market equilibrium hour rate is $16.50, the:

Quantity of workers supplied will exceed the quantity of workers demanded.

Quantity of workers demanded will exceed the quantity of workers supplied. 

Supply of labor will decrease until the equilibrium wage rate is $17.85.

Demand for labor will increase until the equilibrium wage rate is $17.85.

47. In which of the following situations is a budget surplus most likely to occur?

When fiscal policy is expansionary and the economy is contracting

When fiscal policy is contractionary and the economy is expanding

When fiscal policy is expansionary

When the economy is contracting

48. How many parameters are needed to fully describe any normal distribution?

1

3

2

4

49. Which of the following can be represented by a discrete random variable?

the circumference of a randomly generated circle

The number of defective lightbulbs in a sample of five

The average distance achieved in a series of long jumps

The time of a flight between Chicago and New York

50. Suppose that college tuition is higher this year than last and that more students are enrolled in college this year than last year.  Based on this information, we can best conclude that:

despite the increase in price, quantity demanded rose due to some other factors changing.

this situation has nothing to do with the law of demand.

the demand for a college education is positively sloped.

the law of demand is invalid.

PART 2

1. Sampling is used heavily in manufacturing and service settings to ensure high-quality products. In which of the following areas would sampling be inappropriate?

Custom cabinet making

Computer assembly

Technical support by phone

Cell phone manufacturing

2. The preparation of adjusting entries is:

needed to ensure that the expense recognition principle is followed.

straightforward because the accounts that need adjustment will be out of balance

optional when financial statements are prepared.

only required for accounts that do not have a normal balance.

3. What is an advantage of the correlation coefficient over the covariance?

It falls between -1 and 1.

It is a unit-free measure, therefore making it easier to interpret.

It falls between -1 and 1; and it is a unit free measure, therefore making it easier to interpret.

It falls between 0 and 1.  

4. Interest may be included in the acquisition cost of a plant asset:

during the construction period of a self-constructed asset.

if the asset acquisition is financed by a long-term note payable.

if the asset is purchased on credit.

if it is a part of a lump-sum purchase.

5. Which trial balance will consist of the greatest number of accounts?

Balance

Adjusted trial balance

Trial balance

Post-closing trial balance

6. Expenditures that maintain the operating efficiency and expected productive life of a plant asset are generally:

capitalized as a part of the cost of the asset.

not recorded until they become material in amount.

expensed when incurred.

debited to the Accumulated Depreciation account.

7. A SWOT analysis is a framework for analyzing a firm’s environments. A SWOT is made up of

Internal environmental analysis of threats and weaknesses.

External analysis of strengths and opportunities.

Internal threats and weakness and external strengths and opportunities.

Internal strengths and weaknesses; external threats and opportunities.

8. GAAP, compared to IFRS, tends to be more:

simple in disclosure requirements

simple in accounting requirements

principles-based

rules-based

9. Firms must be aware of goals other than short-term profit maximization. One area of concern should be social responsibility which is:

the idea that organizations are solely responsible to local citizens

the idea that businesses are responsible to maintain a healthy social climate for their employees

the expectation that business will strive to improve the overall welfare of society

the fact that court costs could impact the financial bottom line

10. Which of the following can be represented by a continuous random variable?

The number of typos found on a randomly selected page of this test bank

The number of students who will get financial assistance in a group of 50 randomly selected students

The number of customers who visit a department store between 10:00 a.m. and 11:00 a.m. on Mondays

The average temperature in Tampa, Florida, during the month of July

11. According to value-chain analysis, which of the following would be considered part of the general administration in a firm?

procurement

technology development

information systems

human resource management

12. Which of the following can be represented by a discrete random variable?

The number of defective light bulbs in a sample of five

The average distance achieved in a series of long jumps

The circumference of a randomly generated circle

The time of a flight between Chicago and New York

13. Sarbanes Oxley applies to:

U.S and international companies.

international companies but not U.S. companies.

U.S. and Canadian companies but not other international companies.

U.S companies but not international companies.

14. Vertical analysis is a technique that expresses each item in a financial statement:

as a percent of the item in the previous year.

starting with the highest value down to the lowest value.

in dollars and cents.

as a percent of a base amount.

15. The owner of a company has recently decided to raise the salary of one employee, who was already making the highest salary, by 20%. Which of the following is(are) expected to be affected by this raise?

Mean, median, and mode

Median only

Mean and median only

Mean only

16. Which of the following meets the requirements of a simple random sample?

A population contains 10 members under the age of 25 and 20 members over the age of 25. The sample will include six people chosen at random, without regard to age.

A population contains 10 members under the age of 25 and 20 members over the age of 25. The sample will include two people chosen at random under the age of 25 and four people chosen at random over 25.

A population contains 10 members under the age of 25 and 20 members over the age of 25. The sample will include six people who volunteer for the sample.

A population contains 10 members under the age of 25 and 20 members over the age of 25. The sample will include six males chosen at random, without regard to age.

17. The acquisition of treasury stock by a corporation:

decreases its total assets and total stockholders’ equity.

requires that a gain or loss be recognized on the income statement.

increases its total assets and total stockholders’ equity.

has no effect on total assets and total stockholders’ equity.

18. Under the accrual basis of accounting:

the ledger accounts must be adjusted to reflect a cash basis of accounting before financial statements are prepared under generally accepted accounting principles.

cash must be received before revenue is recognized.

events that change a company’s financial statements are recognized in the period they occur rather than in the period in which cash is paid or received.

net income is calculated by matching cash outflows against cash inflows.

19. The acquisition of treasury stock by a corporation:

has no effect on total assets and total stockholders’ equity.

decreases its total assets and total stockholders’ equity.

increases its total assets and total stockholders’ equity.

requires that a gain or loss be recognized on the income statement.

20. In multiple regression, plot the residuals against ____ to detect changing variability.

Collinear variables

All explanatory variables

The response variable

The predicted values

21. The resource-based view (RBV) of the firm combines two perspectives:

the interrelationships among the primary activities of the firm and corporate management

the industry and the competitive environment

the internal analysis of the firm and the external analysis of the industry and competitive environment

the primary and support activities of the firm

22. Cost allocation of an intangible asset is referred to as:

accretion

capitalization

depreciation

amortization

23. The fraud triangle applies to:

U.S. and Canadian companies, but not other international companies.

U.S companies but not international companies.

international companies but not U.S. companies.

U.S and international companies.

24. On March 1st, Candy, Inc. had supplies on hand of $1,500. During the month, Candy purchased supplies of $2,900 and used supplies of $2,800.  The March 31st balance sheet should report what balance in their supplies account?

$1,600

$1,500

$2,900

$2,800

25. Shaw Industries, a giant carpet manufacturer, increases its control over raw materials by producing much of its own polypropylene fiber, a key input to its manufacturing process. This is an example of _______________. 

using related diversification to achieve value by integrating vertically in order to acquire market power

using related diversification to achieve value by pooling negotiating power to achieve market power

using related diversification to achieve value by leveraging core competencies to achieve economies of scope

using related diversification to achieve value by integrating vertically in order to attain economies of scope

26. Assume that the Fitzgerald Corporation uses the indirect method to depict cash flows. Indicate where, if at all, accounts receivable collected would be classified on the statement of cash flows.

Does not represent a cash flow.

Financing activities section.

Investing activities section.

Operating activities section.

27. __________involves ensuring proper strategic controls and organizational designs. 

Strategy implementation

Business-level strategy

Corporate-level strategy

Corporate governance

28. The manager of Weiser is given a bonus based on net income before taxes. The net income after taxes is $35,700 for FIFO and $29,400 for LIFO. The tax rate is 30%. The bonus rate is 20%. How much higher is the manager’s bonus if FIFO is adopted instead of LIFO?

$9,000

$1,800

$6,300

$12,600

29. Which of the following controls would best help detect the removal of a blank check by an employee from the back of a company’s checkbook for subsequent misappropriation of funds?

Tracing any debit memorandums from the bank to the company’s records

A review of the cash budget

An accounting policies manual

The use of pre-numbered checks

30. Which of the following is not a current liability on December 31, 2014?

A Note Payable due December 31, 2015

A lawsuit judgment to be decided on January 10, 2015

An Accounts Payable due January 31, 2015

Accrued salaries payable from 2014

31. When collection is made on Accounts Receivable,

Stockholders equity will increase.

total assets will remain the same.

total assets will decrease.

total assets will increase.

32. Which financial statement would best indicate whether the company relies on debt or stockholders’ 

equity to finance its assets?

Retained earnings statement

Statement of cash flows

Income statement

Balance sheet

33. Is it possible for a data set to have no mode?

No, if the data set is nonempty, there is always a mode

No, unless there is an odd number of observations

Yes, if there are no observations that occur more than once

Yes, if two observations occur twice

34. An analyst believes the probability that U.S. stock returns exceed long-term corporate bond returns over a 5-year period is based on personal assessment. This type of probability is best characterized as a(n) ____________.

Empirical probability

A priori probability

Objectivity probability

Subjective probability

35. Continuous monitoring in the contemporary approach, is beneficial because _____________. 

organization response time is increased

it increases the time it takes to detect changes in the competitive environment

It reduces time lags

organizational flexibility is reduced

36. WellPoint Health Network states: WellPoint will redefine our industry: through a new generation of consumer-friendly products that put individuals back in control of their future. This is an example of a: 

Strategic objective

Line manger’s individual goal

Vague statement of direction

Vision statement

37. A post-closing trial balance will show:

zero balances for all accounts

only income statement accounts

only balance sheet accounts

zero balances for balance sheet accounts

38. Which of the following requirements about internal controls were enacted under the Sarbanes Oxley Act:

Independent outside auditors must eliminate redundant internal controls.

Companies must develop sound internal controls over financial reporting.

Companies must assess the functionality of internal controls only when a violation occurs.

Internal auditors replace independent outside auditors when evaluating the level of internal control.

39. Which of these statements regarding the industry life cycle is correct?

Part of the power of the market life cycle is its ability to serve as a short-run forecasting device.

It points out the need to maintain a differentiation advantage and a low cost advantage simultaneously.

It has important implications for company generic strategies, functional areas, value-creating activities, and overall objectives.

Trends suggested by the market life cycle model are generally not reversible or repeatable.

40. International Financial Reporting Standards (IFRS): 

implies that receivables with different characteristics should be reported separately.

implies that receivables with different characteristics should be reported as one un-segregated amount.

requires that receivables with different characteristics should be reported separately.

requires that receivables with different characteristics should be reported as one un-segregated amount.

41. In a simple linear regression model, if the plots on a scatter diagram lie on a straight line, what is the standard error of the estimate?

Infinity

0

-1

+1

42. Shaw Industries, a giant carpet manufacturer, increases its control over raw materials by producing much of its own polypropylene fiber, a key input to its manufacturing process. This is an example of _______________. 

using related diversification to achieve value by integrating vertically in order to attain economies of scope

using related diversification to achieve value by pooling negotiating power to achieve market power

using related diversification to achieve value by integrating vertically in order to acquire market power

using related diversification to achieve value by leveraging core competencies to achieve economies of scope

43. The four key attributes of strategic management include the idea that:

Strategy must be focused on long-term objectives.

Strategy must be focused on one specific area of an organization.

Strategy must be directed toward overall organizational goals and objectives.

Strategy must be focused on competitor strengths.

44. If a corporation issued $8,000,000 in bonds which pay 5% annual interest, what is the annual net cash cost of this borrowing if the income tax rate is 30%?

$120,000

$280,000

$400,000

$4,000,000

45. Green, Inc. had 200,000 shares of common stock outstanding before a stock split occurred and 800,000 shares outstanding after the stock split. The stock split was:

1-for-8

4-for-1

8-for-1

2-for-8

46. You work in marketing for a company that produces work boots. Quality control has sent you a memo detailing the length of time before the boots wear out under heavy use. They find that the boots wear out in an average of 208 days, but the exact amount of time varies, following a normal distribution with a standard deviation of 14 days. For an upcoming ad campaign, you need to know the percent of the pairs that last longer than six months-that is, 180 days. Use the empirical rule to approximate this percent.

95%

97.5%

5%

2.5%

47. What is a difference between merchandising companies and service enterprises?

Cost of goods sold is an expense for service enterprises but not for merchandising companies.

The operations in merchandising companies and service enterprises are identical.

Merchandising companies must prepare multiple-step income statements and service enterprises must prepare single-step income statements.

Merchandising companies generally have a longer operating cycle than service enterprises.

48. For both qualitative and quantitative data, what is the difference between the relative frequency and the percent frequency?

The percent frequency equals the relative frequency multiplied by 100

As opposed to the percent frequency, the relative frequency is divided by the number of observations  the data set.

The relative frequency equals the percent frequency multiplied by 100.

The percent frequency equals the relative frequency multiplied by 100

49. According to the text the triple bottom line approach to corporate accounting includes three components: 

financial, organizational, and customer

financial, environmental, and customer

financial, organizational, and psychological

financial, environmental, and social

50. As opposed to the relative frequency, the percent frequency is divided by the number of observations in the data set.

Trumpeting Trumpets has the following inventory data:

July 1:  Beginning inventory           30 units at $120

July 5:  Purchases                             180 units at $112

July 14: Sale        120 units

July 21: Purchases            90 units at $115

July 30: Sale        84 units

Assuming that a periodic inventory system is used, what is the cost of goods sold on a FIFO basis?

$10,992

$23,118

$11,022

$23,088

(90 × $115) + [(120 + 84 − 90) × $112] = $23,118

51. For both qualitative and quantitative data what is the difference between the relative frequency and the percent frequency?

The percent frequency equals the relative frequency multiplied by 100

As opposed to the percent frequency, the relative frequency is divided by the number of observations  the data set.

The relative frequency equals the percent frequency multiplied by 100.

The percent frequency equals the relative frequency multiplied by 100

Categories
custom term paper writing term paper help term paper writing service

incipient puberty

My Virtual Life Simulation Assignment

Overview: My Virtual Life is a simulation. The simulation allows you to raise a child from birth to age 18 and monitor the effects of your parenting decisions over time. Assignment Directions:

1. Specifically, in Appendix A, you will find the exact questions you are to answer after raising your child and a rubric for how your responses will be graded. You will see the assignment is divided into 4 parts: infants and toddlers, early childhood, middle childhood, and adolescence. Each part is worth 25 points, equaling 100 total points.

2. Your responses to the questions in Appendix A should be typed in a word document. Use single space, Times New Roman 10-point font, and 1-inch margins.

My Virtual Life Simulation 1 Infants and Toddlers (23 points) – Appendix A General guidelines: A good answer will address every part of the question, and will describe the child’s behavior and provide 1 or 2 supporting examples. In addition, wherever possible, you should relate your descriptions and explanations of the child’s behavior to the concepts, theories and research covered in the book. Please avoid expressing an unfounded opinion – try to base your arguments on research studies and conclusions, or a theory that seems well supported by the research in the field. The questions are printed below along with a scoring rubric. 0-8 Months: 1. How does your baby’s eating, sleeping and motor development compare to the typical developmental patterns? 1 point for describing VC’s behavior in each of two domains and referring to what might be expected at these ages. (2 points) 2. At 8 months of age was your child an “easy”, “slow-to-warm-up”, or “difficult” baby in terms of Thomas and Chess’s classic temperamental categories? On what do you base this judgement? 1/2 point for explaining the category and half a point for a supporting observation on VC’s behavior (1 point) 3. How is your child’s attachment to you and your partner developing? What is happening at the 3-month and 8-month periods that might affect attachment security according to Bowlby and Ainsworth, and various research studies?

1 point each for describing two aspects of the child’s behavior that indicate attachment is developing at 3 or 8 months, and 1 point for describing one aspect of parental behavior that may affect attachment security. (3 points) 8–19 months: 1. Describe and give examples of changes in your child’s exploratory or problem solving behavior from 8 through 18 months and categorize them according to Piagetian and information processing theories. Note that 8 months is included, so you’ll need to use the time-line to look back at 8 months for examples. 1 point for describing an improvement or a qualitatively new behavior and one point for explaining it using a specific Piagetian or information processing concept to classify the child’s behavior (2 points) 2. Analyze your baby’s temperament in more detail at 18 months than you did at 8 months. How would you describe your baby in terms of the five aspects of temperament utilized by the Virtual Child program (activity, sociability, emotionality, aggressiveness vs. cooperativeness, and self- control)? Has your baby’s temperament been stable over the first 18 months? A blurb defining and providing examples of the five aspects of temperament is provided at 12 months, but you should seek out further explanations of temperament from your textbook. Explain how the concept of goodness of fit (also discussed in the blurb on infant temperament) applies to your interactions with your child. 1/2 point for giving a supporting example of each of the five aspects of temperament, ½ point for addressing the issue of stability and 1 point for discussing and giving an example of goodness of fit (4 points) 3. Were you surprised by anything in the developmental assessment at 19 months? That is, does your perception of your child’s physical, cognitive, language and social development differ from that of the developmental examiner? Give specific examples. If you were not surprised, write instead about some aspects of your child’s development that need the most work. 1 point for describing each area of development plus a description of why you were either surprised or not surprised by each, based on the textbook (3 points) 2 Years: 1. Have there been any environmental events in your child’s first 2 ½ years that you think might have influenced his or her behavior? On what do you base your hypotheses? 1 point for each of two environmental events – be sure to explain how you think they influenced your child (2 points) 2. How is your child progressing on the typical toddler issues, such as learning household rules, learning to follow routines, listening to you, developing self-control and learning to get along with other children? 1 point for each of three toddler issues (total of 3 points)

3. Analyze your own parenting philosophy and practices. What principles from social learning theory, Bowlby, Ainsworth, Piaget, Vygotsky, information processing theory, developmental neuroscience and other theories do you appear to have relied on in making your parenting choices or interpreting your child’s behavior? Include three principles/theorists from the above list in your answer. 1 point for discussing an example from your parenting that fits a concept or principle from each of three theories you select from the list above (3 points) Early Childhood (age 3-4 years) (17 points) 3 years: 1. What activities and experiences you and your child have engaged in might be promoting healthy behavioral practices and an interest in physical activity. 1 point for each of three activities or experiences (3 points) 2. Describe development of your child’s language and cognitive skills and discuss how these might be affecting his or her interactions with you and your responses. 1 point for each of two examples illustrating changes in cognitive or language skills and for explaining how they might affect your interactions with your child (2 points) 3. How well is your child adapting to social situations in the home and outside the home? Does your child have any behavior or emotional problems at this point? Why do you think these problems are occurring and what are you doing about them? 1 point for an instance of adaptation in the home and 1 point for an instance outside the home. 1 point for describing a problem (or an area in which the child needs improvement) and what the parent is doing or plans to do about it. (3 points) 4 years: 1. How would you characterize your parenting style? How have your specific parenting techniques changed since infancy? In what ways do you think your parenting style, or any other aspect of your parenting, has been influenced by your cultural background or other experiences? 1 point each for two examples describing your parenting style, and 1 point for illustrating how specific parenting techniques have changed since infancy (3 points) 2. Describe two specific examples of changes in your child’s behavior at age 4 that seem to stem from growth in cognitive and language ability since the period of infancy (e.g., improvements in symbolic thinking, reasoning, knowledge of the world, theory of mind). 1 point for each of two examples of changes in behavior; be sure to use one or more concepts from the course, including but not limited to those listed above (2 points)

3. How would you characterize your child’s personality? Would you say that your child is primarily overcontrolled, undercontrolled or resilient? Support your argument.

*Recall that the Virtual Child’s behavior at age 3 and 4 is designed to resemble one of three personality types. The personality types combine some of the temperamental traits with which you are already familiar. The overcontrolled category refers to a child who is cooperative and follows the rules, but is shy in social situations and anxious and clingy under pressure. The undercontrolled category refers to a child who is uncooperative or even aggressive, does not follow the rules, may or may not be shy in social situations, and has a tendency to become distracted and overly emotional, particularly when under stress. The resilient category refers to a child who is cooperative and follows the rules, is friendly, non-aggressive and outgoing, able to focus on tasks without being too distracted, has good regulation of his or her emotions, and is adaptable to new situations. Refer to the course reader and lecture.

4 points for a well-documented explanation, with two examples of behavior in different situations that support your argument (4 points) Middle Childhood (age 6-11 years) (30 points)

6 Years: 1. How well is your child adapting to social situations in the home and outside the home? Does your child have any behavior or emotional problems at this point? Why do you think these problems are occurring and what are you doing about them? 1 point each for providing an example to illustrate how well the child is adapting in the home and outside the home. 1 point for describing a problem or an area in which the child needs improvement and providing a hypothesized reason for the problem and 1 point for describing what you are doing about these problems. (4 points) 2. Do you notice any improvements in cognitive and language skills since age 4? Give specific examples. Does your child have any special needs with regard to cognitive or language development at this point and what do you plan to do? 1 point each for a description of a cognitive change and a language change. 1 point for description of special needs. (3 points) 3. Which aspects of your child’s behavior and personality reflect continuities from earlier behavior (e.g., at ages 3-4 years) and which seem to be novel for this age level? 1 point for an example of a continuity and 1 point for an example of a novel change. 2 points for discussing how any of these adaptive responses depend on your child’s personality vs. novel behavior evoked by the unique demands. (4 points total) 8 Years: 1. How smart is your child, and in what areas? Think back to the blurb on multiple intelligences that appeared at age 6. Find specific evidence regarding your child’s verbal, logical-

mathematical, spatial, musical and bodily-kinesthetic intelligence from your observations of your own child as well as the psychologist’s report at age 8 years, 11 months. 1 point for an example illustrating your child’s level in two of the five areas of intelligence (2 points) 2. Describe some examples of your child’s behavior or thinking that you think are due to typical American gender role socialization and explain why you think so. Several examples can be found at ages 6 and 8. How closely does your attitude toward gender roles correspond to typical American attitudes, and if there is a discrepancy, to what do you attribute this (e.g., cultural background, attitudes of your own parents, etc.)? 1 point for each of two examples illustrating gender role socialization and 1 point for discussing evidence from the book and lecture about gender roles, and comparing them to your own attitudes. One point for giving an example from the program of how you have put your attitudes into play (4 points) 3. How might your child’s development have been different if s/he was raised by people with a different socioeconomic, ethnic or cultural background? Base your answer on specific evidence of SES/cultural differences from the textbook and class lectures. 1 point each for two examples of how it would be different, each backed up by info from the text. (2 points) 10 Years: 1. Describe your child’s academic skills between ages 6 and 10 and assess how well these skills are developing. The 5th grade report card will be useful for this but you should also incorporate your own observations. What are you doing to help your child? 1 point each for describing two academic skills and how they have changed. 2 points for describing 2 ways you are helping your child (4 points) 2. How well is your child adapting to social situations in the home and outside the home? Does your child have any behavior or emotional problems at this point? Why do you think these problems are occurring and what are you doing about them? 1 point for providing an example to illustrate how well the child is adapting in the home and outside the home. 1 point for describing a problem or an area in which the child needs improvement and providing a hypothesized reason for the problem and 1 point for describing what you are doing about these problems. (3 points) 3. Has your parenting changed since the preschool period and if so, why do you think it has changed and what effect might this have on your child? Refer to your textbook or lecture notes for evidence on typical changes in parenting that occur in middle childhood. 1 point each for describing two ways in which your parenting has changed, 1 point for thinking about why it has changed and 1 point for hypothesizing about effects on the child. Be sure to

include evidence from the text or lecture about typical changes in parenting in middle childhood. (4 points) Adolescence (12-18 years) (30 Points) 12 Years: 1. Describe any physical or behavioral signs of incipient puberty. 1 point each for two examples of physical and/or behavioral (which can include cognitive, social or emotional) signs of puberty and a citation of the text or lecture as a source indicating why these types of changes are important (2 points). 2. How would you characterize your child at this point in terms of the under-controlled, over- controlled or resilient categories? Have there been any changes since the preschool period and why might they have occurred? 1 point each for describing 3 changes and why you think each occurred. (3 points) 3. Using the 7th grade report card and your own observations, summarize your child’s academic skills at this point. What specific activities might promote some of these skills? 1 point each for describing and giving two examples of your child’s academic skills. Make sure not to rely solely on the report cards, i.e., cite your own observations. 2 points for describing some activities that might facilitate growth in these 2 academic skills (4 points) 15 Years: 1. What activities and experiences at ages 12 and 14 has your teen been involved in that might promote healthy behavioral practices, physical fitness and skill in sports? 1 point each for examples of two activities that promote physical health and/or sports skill and 1 point for citing arguments from the course or the readings as to why these activities are beneficial (3 points) 2. Have there been any changes in your teen’s behavior toward you or your partner? Why are these occurring and how are you responding? 2 points for describing 2 changes and why you think each has occurred (2 points) 3. Do you see any examples of how cognitive and physical changes in early adolescence (ages 12-14) that relate to your teen’s social or emotional behavior? 1 point each for describing one cognitive and one physical change and how each may affect the teen’s social or emotional life. (2 points)

16 Years: 1. Think about your teen’s cognitive strengths and weaknesses and how they are reflected in his or her school grades and activities from 14-16 years of age. What careers or courses of study might be best suited to your teen’s abilities and interests? 1 point each for describing a strength and a weakness and relating those to a career they would suit and explaining why they would suit someone in that career (2 points) 2. How important have your teen’s relationships with peers been to his/her social development, emotional well-being and school achievement from 14-16 years of age? 1 point for each of three examples of a possible connection between peer and romantic relationships to the child’s social, emotional or academic development and citing points from the course that support the importance of these types of peer relationships to later behavior (3 points) 3. How has your teen adjusted at 14-16 years of age to typical adolescent issues such as risk- taking, drugs, alcohol, and sexual interests, and how have you responded to your teen? 1 point for each of two examples of an issue your teen has encountered from this list, and 1/2 point for describing how you responded to that specific issue and ½ point for describing why it is important to long-term adolescence adjustment (according to the text and lecture). (3 points) 18 Years: 1. As the program ends, what pathways does your child appear to be on in terms of physical, cognitive, social, emotional and moral development? To what extent could you have predicted these pathways based on what you knew of your child’s earlier development? Describe some specific ways in which you think your parenting mattered for your child’s development, based on evidence from the course regarding the contributions of parents to child development. 1 point for discussing each of two pathways and for providing supporting documentation (2 points) 2. Describe some specific ways in which your child developed that appeared to be influenced by factors outside your control, such as genes, random environmental events or the general influence of contemporary middle-class American culture. 1 point each for 2 influences (2 points) 3. Bonus Question: Are there any issues you had with your parents, your school work, your friends, or your romantic involvements in the last year of high school that continued to be issues for you in college? Reflect on your own personality, interests and cognitive abilities at the time you graduated high school. How did these personality characteristics and abilities manifest themselves in subsequent years? How have they changed since your high school days, if at all? 1 point each for 2 issues and how each affected you in college. (2 points)

Categories
custom term paper writing term paper writing service thesis help

elearn.tnstate.edu

1/29/2019 PDF.js viewer

https://elearn.tnstate.edu/d2l/le/content/7660240/viewContent/55858451/View 1/2

1/29/2019 PDF.js viewer

https://elearn.tnstate.edu/d2l/le/content/7660240/viewContent/55858451/View 2/2

Categories
custom term paper writing term paper help term paper writing service

bioflix activity: how synapses work — events at a synapse

This page intentionally left blank

If you’re wondering why we’re bringing you a new edition of Psychology: Core Concepts . . .

1 In the new seventh edition, we feature new cutting-edge research on the neuroscience of social interaction, cul- tural influences on perception, daydreaming, taste, and meditation, as well as updates on bullying, the slower rise of IQ scores (the Flynn effect) in developed coun- tries, the myth of multitasking, and much more. We also introduce readers to a groundbreaking modification of Maslow’s famous hierarchy of needs, newly framed by evolutionary psychologists.

2 Our lead author Philip Zimbardo has recently published a detailed description and analysis of his famous Stanford Prison Experiment in The Lucifer Effect: Understanding How Good People Turn Evil. We are pleased to include in Psychology: Core Concepts some of the insights he presented in Lucifer—particularly the notion of the effect of impersonal social systems, as well as social situations, on human behavior. Ours is the only introductory text in which you will find a discussion of how these social systems, such as organizations and bureaucracies, create a context that can profoundly influence the behavior of groups and individuals.

3 Dr. Zimbardo has also done important new work on the differences among people in their time perspective, re- ferring to a focus on the past, the present, or the future. This text is the only introduction to psychology to dis- cuss the powerful influence of time perspective on our decisions and actions.

4 In this edition, Read on MyPsychLab icons appear in the margins indicating that additional readings are

available for students to explore. For example, one of the Read features in Chapter 3 (Sensation and Percep- tion) deals with the classic study of backward masking. In Chapter 12 (Disorders and Therapy), you can read more about an African perspective on mental disorder.

5 One of our goals in this new edition is, again, to help you learn to “think like psychologists.” To do so, we have placed new emphasis on two kinds of psychological think- ing: (1) problem solving and (2) critical thinking. Every chapter begins with a Problem and ends with a critical analysis of an important psychological question, such as gender differences or repressed memory.

6 We have made a special effort in the seventh edition to provide clues throughout the chapter to help you un- derstand the solution to the chapter-opening Problem— which proved to be a popular feature in the last edition. The Chapter Summary now gives a brief “answer” to the problem as well.

7 We have designed the Critical Thinking applications at the end of each chapter to build upon a set of critical thinking skills introduced in Chapter One. Each of these focuses on an issue that is popularly misunderstood (e.g., the Mozart Effect) or contentious within the field (e.g., the evidence- based practice debate within clinical psychology). In this edition, we have also included the gist of the Critical Thinking section in the Chapter Summary.

8 Reflecting advances in multicultural and cross-cultural research, we have added even more coverage of culture and gender throughout the text. Our goal here is two- fold: We want you to see the relevance of psychology in your life, and we want you to understand that psychol- ogy is the science of behavior and mental processes that both generalizes and differs across cultures.

Why Do You Need This New Edition?

This page intentionally left blank

Psychology

Philip G. Zimbardo Stanford University

Robert L. Johnson Umpqua Community College

Vivian McCann Portland Community College

Boston Columbus Indianapolis New York San Francisco Upper Saddle River

Amsterdam Cape Town Dubai London Madrid Milan Munich Paris

Montreal Toronto Delhi Mexico City São Paulo Sydney Hong Kong Seoul

Singapore Taipei Tokyo

Seventh Edition

Core Concepts

Student Edition ISBN-10: 0-205-18346-8

ISBN-13: 978-0-205-18346-3 Instructor’s Review Copy

ISBN-10: 0-205-21513-0 ISBN-13: 978-0-205-21513-3

Books à la Carte ISBN-10: 0-205-21505-X

ISBN-13: 978-0-205-21505-8

Editorial Director: Craig Campanella

Editor in Chief: Jessica Mosher

Executive Editor: Stephen Frail

Acquisitions Editor: Amber Chow

Director of Development: Sharon Geary

Senior Development Editor: Deb Hanlon

Editorial Assistant: Madelyn Schricker

VP, Director of Marketing: Brandy Dawson

Executive Marketing Manager: Jeanette Koskinas

Marketing Manager: Brigeth Rivera

Director of Project Management: Lisa Iarkowski

Managing Editor: Maureen Richardson

Project Manager, Production: Shelly Kupperman

Operations Supervisor: Mary Fischer

Senior Operations Specialist: Sherry Lewis

Art Director: Leslie Osher

Interior and Cover Designer: Ximena Tamvakopoulos

Cover Image: nikamataview/iStockphoto

Senior Digital Media Editor: Beth Stoner

Full-Service Project Management and Composition: Andrea Stefanowicz, PreMediaGlobal

Printer/Binder: Courier Companies Inc.

Cover Printer: Lehigh-Phoenix

Text Font: SabonLTStd-Roman, 10/12

Credits and acknowledgments borrowed from other sources and reproduced, with permission, in this textbook appear on pages C-1–C-2.

Copyright © 2012, 2009, 2006 by Pearson Education, Inc.

All rights reserved. Printed in the United States of America. This publication is protected by Copyright and permission should be obtained from the

publisher prior to any prohibited reproduction, storage in a retrieval system, or transmission in any form or by any means, electronic, mechanical,

photocopying, recording, or likewise. To obtain permission(s) to use material from this work, please submit a written request to Pearson Education, Inc.,

Permissions Department, One Lake Street, Upper Saddle River, New Jersey 07458 or you may fax your request to 201-236-3290.

Library of Congress Cataloging-in-Publication Data

Zimbardo, Philip G.

Psychology : core concepts / Philip G. Zimbardo, Robert L. Johnson, Vivian McCann. — 7th ed.

p. cm.

Includes bibliographical references and index.

ISBN-13: 978-0-205-18346-3

ISBN-10: 0-205-18346-8

1. Psychology. I. Johnson, Robert L. (Robert Lee) II. McCann, Vivian. III. Title.

BF121.Z53 2012

150—dc23

2011027587

1 0 9 8 7 6 5 4 3 2 1

1 Mind, Behavior, and Psychological Science 2 2 Biopsychology, Neuroscience, and Human Nature 40 3 Sensation and Perception 86 4 Learning and Human Nurture 132 5 Memory 170 6 Thinking and Intelligence 212 7 Development Over the Lifespan 264 8 States of Consciousness 322 9 Motivation and Emotion 362 10 Personality: Theories of the Whole Person 412 11 Social Psychology 458 12 Psychological Disorders 514 13 Therapies for Psychological Disorders 554 14 From Stress to Health and Well-Being 596 Glossary G-1 References R-1 Answers to Discovering Psychology Program Review Questions A-1 Photo Credits C-1 Name Index I-1 Subject Index I-7

B R I E F C O N T E N T S

v

This page intentionally left blank

vii

C O N T E N T S

CHAPTER 1 Mind, Behavior, and Psychological Science 2

PROBLEM: How would psychologists test the claim that sugar makes children hyperactive? 3

1.1 What Is Psychology—And What Is It Not? 4 Psychology: It’s More Than You Think 4 Psychology Is Not Psychiatry 6 Thinking Critically about Psychology

and Pseudo-Psychology 7

PSYCHOLOGY MATTERS: Using Psychology to Learn Psychology 10

1.2 What Are Psychology’s Six Main Perspectives? 11 Separation of Mind and Body and the Modern Biological

Perspective 12 The Founding of Scientific Psychology and the Modern

Cognitive Perspective 13 The Behavioral Perspective: Focusing on Observable

Behavior 16

The Whole-Person Perspectives: Psychodynamic, Humanistic, and Trait and Temperament Psychology 17

The Developmental Perspective: Changes Arising from Nature and Nurture 19

The Sociocultural Perspective: The Individual in Context 19 The Changing Face of Psychology 20

PSYCHOLOGY MATTERS: Psychology as a Major 22

1.3 How Do Psychologists Develop New Knowledge? 23 Four Steps in the Scientific Method 24 Five Types of Psychological Research 27 Controlling Biases in Psychological Research 31 Ethical Issues in Psychological Research 32

PSYCHOLOGY MATTERS: The Perils of Pseudo-Psychology 33

CRITICAL THINKING APPLIED: Facilitated Communication 35

Chapter Summary 36 Discovering Psychology Viewing Guide 38

PROBLEM: What does Jill Bolte Taylor’s experience teach us about how our brain is organized and about its amazing ability to adapt? 42

2.1 How Are Genes and Behavior Linked? 43 Evolution and Natural Selection 43 Genetics and Inheritance 45

PSYCHOLOGY MATTERS: Choosing Your Children’s Genes 48

2.2 How Does the Body Communicate Internally? 49 The Neuron: Building Block of the Nervous System 50 The Nervous System 56 The Endocrine System 58

PSYCHOLOGY MATTERS: How Psychoactive Drugs Affect the Nervous System 60

2.3 How Does the Brain Produce Behavior and Mental Processes? 62 Windows on the Brain 63 Three Layers of the Brain 65 Lobes of the Cerebral Cortex 69 Cerebral Dominance 73

PSYCHOLOGY MATTERS: Using Psychology to Learn Psychology 79

CRITICAL THINKING APPLIED: Left Brain versus Right Brain 80

Chapter Summary 81 Discovering Psychology Viewing Guide 84

CHAPTER 2 Biopsychology, Neuroscience, and Human Nature 40

CHAPTER 3 Sensation and Perception 86

PROBLEM: Is there any way to tell whether the world we “see” in our minds is the same as the external world—and whether we see things as most others do? 88

3.1 How Does Stimulation Become Sensation? 89 Transduction: Changing Stimulation to Sensation 90 Thresholds: The Boundaries of Sensation 91 Signal Detection Theory 93

PSYCHOLOGY MATTERS: Sensory Adaptation 93

3.2 How Are the Senses Alike? How Are They Different? 94 Vision: How the Nervous System Processes Light 94 Hearing: If a Tree Falls in the Forest . . . 100 How the Other Senses Are Like Vision and Hearing 104 Synesthesia: Sensations across the Senses 108

PSYCHOLOGY MATTERS: The Sense and Experience of Pain 109

3.3 What Is the Relationship between Sensation and Perception? 112 Perceptual Processing: Finding Meaning in Sensation 112 Perceptual Ambiguity and Distortion 114 Theoretical Explanations for Perception 117 Seeing and Believing 124

PSYCHOLOGY MATTERS: Using Psychology to Learn Psychology 125

CRITICAL THINKING APPLIED: Subliminal Perception and Subliminal Persuasion 126

Chapter Summary 128 Discovering Psychology Viewing Guide 130 vii

viii C O N T E N T S

CHAPTER 4 Learning and Human Nurture 132

PROBLEM: Assuming Sabra’s fear of flying was a response she had learned, could it also be treated by learning? If so, how? 134

4.1 What Sort of Learning Does Classical Conditioning Explain? 136 The Essentials of Classical Conditioning 137 Applications of Classical Conditioning 139

PSYCHOLOGY MATTERS: Taste Aversions and Chemotherapy 142

4.2 How Do We Learn New Behaviors By Operant Conditioning? 142 Skinner’s Radical Behaviorism 143 The Power of Reinforcement 143 The Problem of Punishment 149 A Checklist for Modifying Operant Behavior 152 Operant and Classical Conditioning Compared 153

PSYCHOLOGY MATTERS: Using Psychology to Learn Psychology 155

4.3 How Does Cognitive Psychology Explain Learning? 156 Insight Learning: Köhler in the Canaries with Chimps 157 Cognitive Maps: Tolman Finds Out What’s on a

Rat’s Mind 158 Observational Learning: Bandura’s Challenge to

Behaviorism 159 Brain Mechanisms and Learning 161 “Higher” Cognitive Learning 162

PSYCHOLOGY MATTERS: Fear of Flying Revisited 162

CRITICAL THINKING APPLIED: Do Different People Have Different “Learning Styles”? 164

Chapter Summary 166 Discovering Psychology Viewing Guide 168

CHAPTER 5 Memory 170

PROBLEM: How can our knowledge about memory help us evaluate claims of recovered memories? 172

5.1 What Is Memory? 172 Metaphors for Memory 173 Memory’s Three Basic Tasks 174

PSYCHOLOGY MATTERS: Would You Want a “Photographic” Memory? 175

5.2 How Do We Form Memories? 177 The First Stage: Sensory Memory 178 The Second Stage: Working Memory 180 The Third Stage: Long-Term Memory 184

PSYCHOLOGY MATTERS: “Flashbulb” Memories: Where Were You When . . . ? 189

5.3 How Do We Retrieve Memories? 190 Implicit and Explicit Memory 190 Retrieval Cues 191 Other Factors Affecting Retrieval 193

PSYCHOLOGY MATTERS: On the Tip of Your Tongue 194

5.4 Why Does Memory Sometimes Fail Us? 195 Transience: Fading Memories Cause Forgetting 196 Absent-Mindedness: Lapses of Attention Cause

Forgetting 198 Blocking: Access Problems 198 Misattribution: Memories in the Wrong Context 199 Suggestibility: External Cues Distort or Create Memories 200 Bias: Beliefs, Attitudes, and Opinions Distort Memories 201 Persistence: When We Can’t Forget 202 The Advantages of the “Seven Sins” of Memory 202 Improving Your Memory with Mnemonics 203

PSYCHOLOGY MATTERS: Using Psychology to Learn Psychology 204

CRITICAL THINKING APPLIED: The Recovered Memory Controversy 206

Chapter Summary 207 Discovering Psychology Viewing Guide 210

C O N T E N T S ix

CHAPTER 7 Development Over the Lifespan 264

PROBLEM: Do the amazing accounts of similarities in twins reared apart indicate we are primarily a product of our genes? Or do genetics and environment work together to influence growth and development over the lifespan? 266

7.1 What Innate Abilities Does the Infant Possess? 268 Prenatal Development 268 The Neonatal Period: Abilities of the Newborn Child 269 Infancy: Building on the Neonatal Blueprint 271

PSYCHOLOGY MATTERS: Not Just Fun and Games: The Role of Child’s Play in Life Success 277

7.2 What Are the Developmental Tasks of Childhood? 279 How Children Acquire Language 279 Cognitive Development: Piaget’s Theory 282 Social and Emotional Development 288

PSYCHOLOGY MATTERS: The Puzzle of ADHD 294

7.3 What Changes Mark the Transition of Adolescence? 296 Adolescence and Culture 296

Physical Maturation in Adolescence 297 Adolescent Sexuality 298 Neural and Cognitive Development in Adolescence 299 Moral Development: Kohlberg’s Theory 300 Social and Emotional Issues in Adolescence 302

PSYCHOLOGY MATTERS: Using Psychology to Learn Psychology: Cognitive Development in College Students 304

7.4 What Developmental Challenges Do Adults Face? 305 Early Adulthood: Explorations, Autonomy, and Intimacy 306 The Challenges of Midlife: Complexity and Generativity 308 Late Adulthood: The Age of Integrity 310

PSYCHOLOGY MATTERS: A Look Back at the Jim Twins and Your Own Development 313

CRITICAL THINKING APPLIED: The Mozart Effect 315

Chapter Summary 316 Discovering Psychology Viewing Guide 320

CHAPTER 6 Thinking and Intelligence 212

PROBLEM: What produces “genius,” and to what extent are the people we call “geniuses” different from others? 214

6.1 What Are the Components of Thought? 215 Concepts 215 Imagery and Cognitive Maps 217 Thought and the Brain 218 Intuition 219

PSYCHOLOGY MATTERS: Schemas and Scripts Help You Know What to Expect 221

6.2 What Abilities Do Good Thinkers Possess? 223 Problem Solving 223 Judging and Making Decisions 227 Becoming a Creative Genius 229

PSYCHOLOGY MATTERS: Using Psychology to Learn Psychology 232

6.3 How Is Intelligence Measured? 233 Binet and Simon Invent a School Abilities Test 234 American Psychologists Borrow Binet and Simon’s Idea 235 Problems with the IQ Formula 236 Calculating IQs “on the Curve” 237 IQ Testing Today 238

PSYCHOLOGY MATTERS: What Can You Do for an Exceptional Child? 239

6.4 Is Intelligence One or Many Abilities? 242 Psychometric Theories of Intelligence 242 Cognitive Theories of Intelligence 243 The Question of Animal Intelligence 247

PSYCHOLOGY MATTERS: Test Scores and the Self-Fulfilling Prophecy 249

6.5 How Do Psychologists Explain IQ Differences Among Groups? 250 Intelligence and the Politics of Immigration 251 What Evidence Shows That Intelligence Is Influenced

by Heredity? 251 What Evidence Shows That Intelligence is Influenced

by Environment? 252 Heritability (Not Heredity) and Group Differences 253 PSYCHOLOGY MATTERS: Stereotype Threat 256

CRITICAL THINKING APPLIED: The Question of Gender Differences 258

Chapter Summary 259 Discovering Psychology Viewing Guide 262

CHAPTER 8 States of Consciousness 322

PROBLEM: How can psychologists objectively examine the worlds of dreaming and other subjective mental states? 324

8.1 How Is Consciousness Related to Other Mental Processes? 324 Tools for Studying Consciousness 326 Models of the Conscious and Nonconscious Minds 327 What Does Consciousness Do for Us? 329 Coma and Related States 330

PSYCHOLOGY MATTERS: Using Psychology to Learn Psychology 331

8.2 What Cycles Occur in Everyday Consciousness? 332 Daydreaming 332

Sleep: The Mysterious Third of Our Lives 333 Dreaming: The Pageants of the Night 338

PSYCHOLOGY MATTERS: Sleep Disorders 341

8.3 What Other Forms Can Consciousness Take? 344 Hypnosis 345 Meditation 347 Psychoactive Drug States 348

PSYCHOLOGY MATTERS: Dependence and Addiction 354

CRITICAL THINKING APPLIED: The Unconscious—Reconsidered 356

Chapter Summary 358 Discovering Psychology Viewing Guide 360

x C O N T E N T S

CHAPTER 10 Personality: Theories of the Whole Person 412

PROBLEM: What influences were at work to produce the unique behavioral patterns, high achievement motivation, and consistency over time and place that we see in the personality of Mary Calkins? 414

10.1 What Forces Shape Our Personalities? 415 Biology, Human Nature, and Personality 416 The Effects of Nurture: Personality and the Environment 416 The Effects of Nature: Dispositions and Mental

Processes 417 Social and Cultural Contributions to Personality 417 PSYCHOLOGY MATTERS: Explaining Unusual People

and Unusual Behavior 418

10.2 What Persistent Patterns, or Dispositions, Make Up Our Personalities? 420

Personality and Temperament 421 Personality as a Composite of Traits 422 PSYCHOLOGY MATTERS: Finding Your Type 426

10.3 Do Mental Processes Help Shape Our Personalities? 428 Psychodynamic Theories: Emphasis on Motivation

and Mental Disorder 428

Humanistic Theories: Emphasis on Human Potential and Mental Health 439

Social-Cognitive Theories: Emphasis on Social Learning 442

Current Trends: The Person in a Social System 445 PSYCHOLOGY MATTERS: Using Psychology to Learn

Psychology 445

10.4 What “Theories” Do People Use to Understand Themselves and Others? 447

Implicit Personality Theories 447 Self-Narratives: The Stories of Our Lives 448 The Effects of Culture on Our Views of Personality 449 PSYCHOLOGY MATTERS: The Personality of Time 450

CRITICAL THINKING APPLIED: The Person–Situation Controversy 453

Chapter Summary 454 Discovering Psychology Viewing Guide 456

CHAPTER 9 Motivation and Emotion 362

PROBLEM: Motivation is largely an internal and subjective process: How can we determine what motivates people like Lance Armstrong to work so hard at becoming the best in the world at what they do? 364

9.1 What Motivates Us? 364 Why People Work: McClelland’s Theory 365 The Unexpected Effects of Rewards on Motivation 367 PSYCHOLOGY MATTERS: Using Psychology to Learn

Psychology 368

9.2 How Are Our Motivational Priorities Determined? 369 Instinct Theory 369 Drive Theory 370 Freud’s Psychodynamic Theory 371 Maslow’s Hierarchy of Needs 372 Putting It All Together: A New Hierarchy of Needs 373

PSYCHOLOGY MATTERS: Determining What Motivates Others 374

9.3 Where Do Hunger and Sex Fit into the Motivational Hierarchy? 375 Hunger: A Homeostatic Drive and a Psychological

Motive 376 The Problem of Will Power and Chocolate Cookies 379

Sexual Motivation: An Urge You Can Live Without 380 Sex, Hunger, and the Hierarchy of Needs 384

PSYCHOLOGY MATTERS: The What and Why of Sexual Orientation 385

9.4 How Do Our Emotions Motivate Us? 387 What Emotions Are Made Of 388 What Emotions Do for Us 389 Counting the Emotions 389 Cultural Universals in Emotional Expression 390

PSYCHOLOGY MATTERS: Gender Differences in Emotion Depend on Biology and Culture 391

9.5 What Processes Control Our Emotions? 392 The Neuroscience of Emotion 393 Arousal, Performance, and the Inverted U 396 Theories of Emotion: Resolving Some Old Issues 397 How Much Conscious Control Do We Have Over Our

Emotions? 399

PSYCHOLOGY MATTERS: Detecting Deception 403

CRITICAL THINKING APPLIED: Do Lie Detectors Really Detect Lies? 405

Chapter Summary 407 Discovering Psychology Viewing Guide 410

C O N T E N T S xi

CHAPTER 11 Social Psychology 458

PROBLEM: What makes ordinary people willing to harm other people, as they did in Milgram’s shocking experiment? 461

11.1 How Does the Social Situation Affect Our Behavior? 462 Social Standards of Behavior 463 Conformity 465 Obedience to Authority 471 Cross-Cultural Tests of Milgram’s Research 475 Some Real-World Extensions of the Milgram Obedience

to Authority Paradigm 477 The Bystander Problem: The Evil of Inaction 478 Need Help? Ask for It! 480

PSYCHOLOGY MATTERS: On Being “Shoe” at Yale U 482

11.2 Constructing Social Reality: What Influences Our Judgments of Others? 483 Interpersonal Attraction 484 Loving Relationships 488

Making Cognitive Attributions 490 Prejudice and Discrimination 492

PSYCHOLOGY MATTERS: Stereotype Lift and Values Affirmations 498

11.3 How Do Systems Create Situations That Influence Behavior? 500 The Stanford Prison Experiment 500 Chains of System Command 502 Preventing Bullying by Systematic Changes and Reframing 504

PSYCHOLOGY MATTERS: Using Psychology to Learn Psychology 507

CRITICAL THINKING APPLIED: Is Terrorism “a Senseless Act of Violence, Perpetrated by Crazy Fanatics”? 508

Chapter Summary 510 Discovering Psychology Viewing Guide 512

PROBLEM: Is it possible to distinguish mental disorder from merely unusual behavior? That is, are there specific signs that clearly indicate mental disorder? 516

12.1 What Is Psychological Disorder? 517 Changing Concepts of Psychological Disorder 518 Indicators of Abnormality 521 A Caution to Readers 522

PSYCHOLOGY MATTERS: The Plea of Insanity 522

12.2 How Are Psychological Disorders Classified in the DSM-IV ? 524 Overview of the DSM-IV Classification System 524 Mood Disorders 526 Anxiety Disorders 530 Somatoform Disorders 534 Dissociative Disorders 535 Schizophrenia 537

Developmental Disorders 541 Personality Disorders 542 Adjustment Disorders and Other Conditions: The Biggest

Category of All 544 Gender Differences in Mental Disorders 544

PSYCHOLOGY MATTERS: Shyness 544

12.3 What Are the Consequences of Labeling People? 545 Diagnostic Labels, Labeling, and Depersonalization 546 The Cultural Context of Psychological Disorder 546

PSYCHOLOGY MATTERS: Using Psychology to Learn Psychology 547

CRITICAL THINKING APPLIED: Insane Places Revisited—Another Look at the Rosenhan Study 548

Chapter Summary 550 Discovering Psychology Viewing Guide 552

CHAPTER 12 Psychological Disorders 514

xii C O N T E N T S

Glossary G-1 References R-1 Answers to Discovering Psychology Program Review Questions A-1 Photo Credits C-1 Name Index I-1 Subject Index I-7

CHAPTER 14 From Stress to Health and Well-Being 596

PROBLEM: Were the reactions and experiences of the 9/11 firefighters and others at the World Trade Center attacks typical of people in other stressful situations? And what factors explain individual differences in our physical and psychological responses to stress? 598

14.1 What Causes Distress? 600 Traumatic Stressors 601 Chronic Stressors 606

PSYCHOLOGY MATTERS: Student Stress 611

14.2 How Does Stress Affect Us Physically? 613 Physiological Responses to Stress 614 Stress and the Immune System 617

PSYCHOLOGY MATTERS: Cognitive Appraisal of Ambiguous Threats 619

14.3 Who Is Most Vulnerable to Stress? 620 Type A Personality and Hostility 622 Locus of Control 623 Hardiness 624

Optimism 625 Resilience 626

PSYCHOLOGY MATTERS: Using Psychology to Learn Psychology 628

14.4 How Can We Transform Negative Stress Into Positive Life Strategies? 629 Psychological Coping Strategies 630 Positive Lifestyle Choices: A “Two-for-One” Benefit to Your

Health 634 Putting It All Together: Developing Happiness and Subjective

Well-Being 637

PSYCHOLOGY MATTERS: Behavioral Medicine and Health Psychology 639

CRITICAL THINKING APPLIED: Is Change Really Hazardous to Your Health? 641

Chapter Summary 643 Discovering Psychology Viewing Guide 646

CHAPTER 13 Therapies for Psychological Disorders 554

PROBLEM: What is the best treatment for Derek’s depression: psychological therapy, drug therapy, or both? More broadly, the problem is this: How do we decide among the available therapies for any of the mental disorders? 556

13.1 What Is Therapy? 556 Entering Therapy 557 The Therapeutic Alliance and the Goals of Therapy 557 Therapy in Historical and Cultural Context 559

PSYCHOLOGY MATTERS: Paraprofessionals Do Therapy, Too 560

13.2 How Do Psychologists Treat Psychological Disorders? 561 Insight Therapies 562 Behavior Therapies 568 Cognitive–Behavioral Therapy: A Synthesis 571 Evaluating the Psychological Therapies 574

PSYCHOLOGY MATTERS: Where Do Most People Get Help? 576

13.3 How Is the Biomedical Approach Used to Treat Psychological Disorders? 577 Drug Therapy 577

Other Medical Therapies for Psychological Disorders 581 Hospitalization and the Alternatives 583

PSYCHOLOGY MATTERS: What Sort of Therapy Would You Recommend? 584

13.4 How Do the Psychological Therapies and Biomedical Therapies Compare? 585 Depression and Anxiety Disorders: Psychological versus

Medical Treatment 587 Schizophrenia: Psychological versus Medical

Treatment 587 “The Worried Well” and Other Problems: Not Everyone Needs

Drugs 588

PSYCHOLOGY MATTERS: Using Psychology to Learn Psychology 588

CRITICAL THINKING APPLIED: Evidence-Based Practice 589

Chapter Summary 592 Discovering Psychology Viewing Guide 594

P R E FA C E xiii

T O T H E S T U D E N T . . .

There is one simple formula for academic success, and the following demonstration will show you what it is. Study this array of letters for a few seconds: I B M U F O F B I C I A

Now, without peeking, write down as many of the letters as you can (in the correct order).

Most people remember about five to seven letters correctly. A few people get them all. How do these exceptional few do it? They find a pattern. (You may have noticed some familiar initials in the array above: IBM, UFO, FBI, CIA.) Finding the pattern greatly eases the task because you can draw on material that is already stored in mem- ory. In this case, all that needs to be remembered are four “chunks” of information instead of 12 unrelated letters.

The same principle applies to material you study for your psychology class. If you try to remember each piece of information as a separate item, you will have a difficult time. But if instead you look for patterns, you will find your task greatly simplified— and much more enjoyable.

USING PSYCHOLOGY TO LEARN PSYCHOLOGY So, how can you identify the patterns? Your friendly authors have developed several learning features that will make meaningful patterns in the text stand out clearly:

Core Concepts We have organized each major section of every chapter around a single big idea called a Core Concept. For example, one of the four Core Concepts in Chapter 5, Memory, says:

Core Concept 5.4 Human memory is an information-processing system that works constructively to encode, store, and retrieve information.

The Core Concept, then, becomes the central theme around which about 10 pages of material—including several new terms—are organized. As you read each chapter, keep- ing the Core Concept in mind will help you encode the new terms and ideas related to that concept, store them in your memory, and later retrieve them when you are being tested. To borrow an old saying, the Core Concepts become the “forest,” while the details of the chapter become the “trees.”

Categories
custom thesis term paper writing service thesis help

online.seterra/en/vgp/3007

Please go to the following websites and take each map quiz repeatedly until you score 100% 

1)  http://online.seterra.com/en/vgp/3015

2) http://online.seterra.com/en/vgp/3016

3) http://online.seterra.com/en/vgp/3007

4) http://online.seterra.com/en/vgp/3163

5) http://online.seterra.com/en/vgp/3167

When you achieve 100% on each test, and take a screenshot or photo of each one

Categories
custom term paper writing term paper help term paper writing service

a biological community’s productivity is a measure of

1. An example of primary productivity would be

A. a wild raspberry plant growing 30 grams of new leaf mass during a day of photosynthesis.

B. a young oriole growing 10 grams of muscle during a feeding trip to a raspberry bush. 

C. a young hawk growing 10 more grams of body mass by killing and eating a young oriole. 

D. more than one of the above. 

2.  Diversity refers to 

A. number of different species present

B. number of ecological niches

C. amount of genetic diversity

D. all of the above

3. An ecosystem consists of 

A. A physical environment within which a biological community lives

B. The species with which a biological community interacts

C. A biological community and its physical environment

D. The primary producers within a biological community

E. All the species in a biological community

4. A keystone species is a species whose presence 

A. Is the main reason a community exists

B. Provides food for all other species in a community

C. Is an indicator of environmental health

D. Influences the population size of many other species in its community

E. Is always at the top of the trophic levels as a top predator

5. Biomass includes all 

A. Material in an ecosystem

B. Things that are living at a given time

C. Living and nonliving things

D. Matter produced by primary producers

E. Biological material

6. No two species can occupy the same ecological niche as one species will outcompete the other one. 

A. True

B. False

7. Succession can produce changes in soil, degree of shade, available moisture, and species membership of a community. 

A True

B False

8. Cheetahs can run extremely fast because
A. They need to run extremely fast in order to catch their prey
B. An ancestor that was able to run fast had an advantage and passed those genes on to its offspring
C. Over time they gradually built up speed as they adapted to faster and faster prey species
D. They are competing with stronger lions and hyenas for their food so they need to be fast
E. All of these are reasons cheetahs can run extremely fast

9. Most organisms’ niches are controlled by
A. Genetic determinants
B. Lessons learned from parents
C. Behavior learned from others in their social groups
D. Luck
E. The predators and competitors they encounter

10. A biological community’s productivity is a measure of
A. Its number of species
B. The number of individuals in the community
C. Available solar energy that can be converted to biomass
D. The amount of biomass produced in the community
E. All of these are combined in measuring a community’s productivity

11. Primary succession occurs when a community develops ____________ while secondary succession occurs when one ________.
A. Into a climax community; species replaces another
B. And replaces another; ecosystem becomes stable
C. On unoccupied ground; biological community replaces another
D. And then fails; niche changes
E. Intraspecific competition; experiences interspecific competition

12. Location of specific biomes can be predicted based on 

A. The Coriolis Effect 

B. The 2nd Law of Thermodynamics 

C. Precipitation and temperature 

D. Seasonal variations in sunspots 

E. Large landforms in the area 

13. A biome is described by 

A. A specified bioregion

B. Broadly similar environmental conditions along similar latitudinal patterns

C. A watershed divide, generally

D. Geographic location

E. Large landforms in the area

14. Deciduous forests 

A. Are adapted to extremely cold climates

B. Have trees that bear seeds in cones

C. Have trees that shed their leaves seasonally

D. Are not useful commercially

E. Are not found in the African continent

15.  Boreal forests are generally 

A. Cold and dry, with extensive barren areas

B. Warm and humid, with large rivers

C. Dry because water is frozen most of the year

D. Slow-growing because of the cold temperatures

E. Soggy in the summer because of permafrost

16. Estuaries are noted by biologists because they have few, but highly specialized, biological niches. 

A. True 

B. FALSE

17. Wetlands perform a major ecosystem service of trapping and filtering water as it passes through the wetland area.

A. True 

B. FALSE

18. In contrast with the ______________, the soil of the ______________ is more nutrient-rich and this type of biome has fewer insects, parasites and fungal diseases. Therefore, in many places, these areas are highly endangered. 

A. Temperate grasslands; tropical seasonal forest

B. Tropical rainforest; tropical seasonal forest

C. Grasslands; boreal forests

D. Tropical seasonal forest; tropical rainforest

E. Boreal forests; tundra

19. Carrying capacity is the population or biomass 

A. That an environment can support in an optimal year 

B. Of a species that an environment can support on a long-term basis 

C. That remains after a catastrophic dieback has occurred 

D. Of a species without limiting factors 

E. Of a species without predators 

20. the most overfished species in the world is Bluefin tuna. 

A. True

B. False

21. You are studying an organism that is a pioneer species is an opportunist and does not care for its offspring. This organism probably has a _________________ population growth strategy. 

A. K-adapted

B. R-adapted

C. Irregular

D. Catastrophic

E. R-adapted and irregular

22. You are studying an organism that is fairly large, matures slowly, lives fairly long and cares for its offspring. This organism probably has a _________________ population growth strategy. 

A. K-adapted 

B. R-adapted 

C. Irregular 

D. Catastrophic 

E. R-adapted and irregular 

23. Life expectancy is the 

A. Maximum life span that an individual of a given species could reach

B. Number of individuals in a population that survive in a given year

C. Number of years an individual of a certain age will probably live

D. Probability that an individual will survive infancy

E. All of these are descriptions of life expectancy

24. Ninety percent of the world’s population growth in the next century is expected to occur in 

A. Less-developed countries

B. China

C. Developed countries

D. Moderately developed nations

E. India

25. Which of the following factors does not usually affect the crude death rates of a population? 

A. Health care 

B. Sanitation 

C. Age structure of the population 

D. Nutrition 

E. All of these affect crude death rates 

26. The histogram on the left represents a population whose birth rates 

A. Have not changed for many years

B. Have recently decreased

C. Are gradually increasing

D. Are sharply increasing

E. None of these – birth rates cannot be determined by the age class histogram

27. The population represented by the age class histogram on the right will 

A. Have a large population of old people soon

B. Not grow much in the coming years

C. Soon begin to decline

D. Grow substantially in the future

E. Grow slowly in the futur

28. Women who ________ are least likely to have many children. 

A. Cannot afford children

B. Live where many children die young

C. Are subordinate to their husbands

D. Are able to earn an income for themselves

E. All of these are correct

Use the following demographic data on three hypothetical countries for question # 29. 

Country “A” Country “B” Country “C”

Fertility (per female)  2.0  3.1  6.7

Infant Mortality (per 1000 people) 9  69  62

Life Expectancy (years)  75.5  65  61

Per-capita income (U.S. dollars)  $21,700 $2,680  $370

Doubling Time (years)   89  37  19

29. Which of the following demographic categories best identifies Country “A”? 

A. Developed

B. Moderately developed

C. Less developed

D. Developing

E. Third World

30. The world’s human population is about 7.4 billion. 

A. True

B. False

31. Climate is a description of ________ weather conditions. 

A. Long-term, regional

B. Stable and unchanging

C. Temporary

D. Temporary, local

E. Annual

32. The greenhouse effect in the atmosphere occurs because 

A. Clouds reflect sunlight back into space 

B. Oceans absorb heat and then release it slowly at night 

C. Stratospheric ozone absorbs UV radiation 

D. CO2, water vapor, methanol and other gases absorb infrared radiation 

E. All of these are correct 

33. Since the mid 1960’s what has happened to the snow cover in the northern hemisphere and sea levels measured in Stockholm, Sweden? 

A. Snow cover has increased; Sea levels have increased 

B. Snow cover has decreased; Sea levels have increased 

C. Snow cover has increased; Sea levels have decreased 

D. Snow cover has decreased; Sea levels have decreased 

34. According to climate computer models, which of the following activities accounts for most of the increase in the Earth’s temperature over the past century? 

A. Volcanic eruptions. 

B. Natural variability. 

C. Increased solar radiation coming from the sun. 

D. Human activity.

35.. Which of the following statements about the amount of carbon dioxide in the Earth’s atmosphere from 1960 until 2000 is true? 

A. The amount of carbon dioxide in the atmosphere has remained fairly constant. 

B.  The amount of carbon dioxide had decreased. 

C. While there have been intra-annual cycle fluctuations, the overall trend has been an increase in carbon dioxide. 

D. While there have been intra annual cycle fluctuations, the overall trend shows both an increase and decrease in carbon dioxide. 

36.. Deforestation and fossil fuel emissions _______. 

A.  act as a sink of carbon by tying up carbon in the world’s oceans 

B.  cannot be measured accurately 

C.  are not a significant source of carbon into the atmosphere 

D. contribute to an excess of carbon into the atmosphere 

Categories
custom term paper writing term paper help term paper writing service

a class and its members can be described graphically using a notation known as the ____ notation.

Question 1

A convenient and fast way to implement an associative container data structure is to use a ____.

A. linked list

B. binary search tree

C. priority queue

Question 2

In an array list the time complexity of the remove function is identical to the time complexity of the ____ function.

A. insert

B. isEmpty

C. isFull

Question 3

The algorithm ____ is used to find the elements in one range of elements that do not appear in another range of elements.

A. set_union

B. set_difference

C. set_join

Question 4

If we compare the push function of the stack with the insertFirst function for general lists, we see that the algorithms to implement these operations are similar.

True

False

Question 5

The ____ operation is used to add an element onto the stack.

A. push

B. pop

C. add

Question 6

From the binary search algorithm, it follows that every iteration of the while loop cuts the size of the search list by half.

True

False

Question 7

The order of the nodes in a linked list is determined by the data value stored in each node.

True

False

Question 8

Every call to a recursive function has its own code and its own set of ____ and local variables

A. headers

B. parameters

C. stack

Question 9

To simplify operations such as insert and delete, you can define the class to implement the node of a linked list as a struct.

True

False

Question 10

The term asymptotic means the study of the function f as n becomes larger and larger without bound.

True

False

Question 11

The ____ in a binary tree is the number of branches on the path from the root to the node.

A. size of a node

B. level of a node

C. depth of a node

Question 12

In the second form of ____, the binary operation op is applied to the elements in the range.

A. adjacent_find

B. adjacent_difference

C. adjacent_member

Question 13

The statement ____ declares intList to be a vector and the component type to be int

A. vector<int> intList;

B. int.vector intList;

C. int.vector intList;

Question 14

When an integer is subtracted from a pointer variable, the value of the pointer variable is decremented by the integer times half the size of the memory to which the pointer is pointing.

True

False

Question 15

Because an AVL tree is a binary search tree, the search algorithm for an AVL tree is the same as the search algorithm for a binary search tree.

True

False

Question 16

Random access iterators are ____ iterators that can randomly process elements of a container.

A. input

B. forward

C. bidirectional

Question 17

A(n) ____ is a data type that separates the logical properties from the implementation details.

A. public

B. abstract data type

C. private

Question 18

Building a linked list forward places the new item to be added at the beginning of the linked list.

True

False

Question 19

____ are systems in which queues of objects are waiting to be served by various servers

A. Queuing networks

B. Queuing systems

C. Holding systems

Question 20

Using static arrays, depending on the number of servers specified by the user, a list of servers is created during program execution.

True

False

Question 21

To speed up item insertion and deletion in a data set, use ____.

A. arrays

B. linked lists

C. classes

Question 22

If the data needs to be processed in a First In First Out (FIFO) manner, we typically use a(n) ____.

A. stack

B. queue

C. map

Question 23

A binary search can be performed only on ____.

A. ordered lists

B. comparable lists

C. unordered lists

Question 24

Class objects cannot be passed as parameters to functions or returned as function values.

True

False

Question 25

A queuing system only consists of queues of objects waiting to be served.

True

False

Question 26

A class and its members can be described graphically using a notation known as Unified Modeling Language (UML) notation.

True

False

Question 27

In a ____ queue, customers or jobs with higher priorities are pushed to the front of the queue.

A. structured

B. divided

C. priority

Question 28

The operation ____ is used to remove the top element from the stack.

A. pop

B. push

C. peek

Question 29

In 1736, Euler represented the Königsberg bridge problem as a graph, marking (as recorded) the birth of graph theory.

True

False

Question 30

A sequential search assumes that the data is in a particular order.

True

False

Question 31

The general case in a recursive function is the case for which the solution is obtained directly.

True

False

Question 32

Open addressing can be implemented in several ways.

True

False

Question 33

Every customer has a customer number, arrival time, waiting time, transaction time, and departure time.

True

False

Question 34

The expression vecCont.empty() empties the vector container of all elements.

True

False

Question 35

A B-tree can be ____ in three ways: inorder, preorder, and postorder.

A. copied

B. reversed

C. traversed

Question 36

The ____ operation on a queue returns the last element in the queue, but does not remove the element from the queue

A. front

B. back

C. pop

D. push

Question 37

A linked list in which the last node points to the first node is called a reverse linked list.

True

False

Question 38

A ____ is a set of elements of the same type in which the elements are added at one end.

A. hash table

B. tree

C. queue

Question 39

Assuming deq is a deque object, the expression deq.push_front(elem) deletes the first element from deq.

True

False

Question 40

The function that overloads any of the operators (), [], ->, or = for a class must be declared as a member of the class.

True

False

Question 41

The syntax for accessing a class (struct) member using the operator -> is ____.

A. pointerVariableName.classMemberName

B. pointerVariableName->classMemberName

C. &pointerVariableName.classMemberName

Question 42

complexity of the function seqSearch in an array list is O(n2).

True

False

Question 43

Mergesort uses the divide-and-conquer technique to sort a list.

True

False

Question 44

After inserting (or deleting) a node from an AVL tree, the resulting binary tree does not have to be an AVL tree.

True

False

Question 45

The ____ algorithm tries to extend a partial solution toward completion

A. backtracking

B. recursive

C. backordering

Question 46

Indirect recursion requires the same careful analysis as direct recursion.

True

False

Question 47

We need ____ pointers to build a linked list.

A. two

B. three

C. four

D. five

Question 48

The destructor automatically executes when the class object goes out of ____.

A. scope

B. use

C. phase

Question 49

An ____ is an object that produces each element of a container, such as a linked list, one element at a time.

A. initiator

B. iterator

C. interpreter

Question 50

Assuming vecList is a vector container, the expression ____ deletes all elements from the container.

A. vecList.erase(position)

B. vecList.erase(beg, end)

C. vecList.clear()

Question 1

A convenient and fast way to implement an associative container data structure is to use a ____.

A.

linked list

B. binary search tree

C.

priority queue

Question 2

In an array list the time complexity of the remove function is identical to the time complexity of the

____ function.

A.

insert

B.

isEmpty

C.

isFull

Question 3

The algorithm ____ is used to find the elements in one range of elements that do not appear in

another range of elements.

A.

set_union

B.

set_difference

C.

set_join

Question 4

If we compare the push function of the stack with the insertFirst function for general lists, we see that

the algorithms to implemen

t these operations are

similar.

True

False

Question 5

The ____ operation is used to

add an element onto the stack.

A.

push

B. pop

Question 1

A convenient and fast way to implement an associative container data structure is to use a ____.

A. linked list

B. binary search tree

C. priority queue

Question 2

In an array list the time complexity of the remove function is identical to the time complexity of the

____ function.

A. insert

B. isEmpty

C. isFull

Question 3

The algorithm ____ is used to find the elements in one range of elements that do not appear in

another range of elements.

A. set_union

B. set_difference

C. set_join

Question 4

If we compare the push function of the stack with the insertFirst function for general lists, we see that

the algorithms to implement these operations are similar.

True

False

Question 5

The ____ operation is used to add an element onto the stack.

A. push

B. pop

Categories
custom thesis term paper writing service thesis help

what is the future value of $5,700 invested for 18 years at 9 percent compounded annually?

Top of Form

1.

value:
2.00 points

http://ezto.mhecloud.mcgraw-hill.com/EZTestOnline/Graphics/x.gif

 You did NOT receive full credit for this question in previous attempt.

Problem 8-1 Cash discount [LO1]

Compute the cost of not taking the following cash discounts.
(a)2/18, net 40. (Use 360 days in a year. Round your intermediate calculations and final answers to 2 decimal places . Omit the “%” sign in your response.)
  Cost of lost discount on futures contracts$ [removed]  
(c-1)After considering the hedging, what is the net cost to the firm of the increased interest expense of $72,000? (Omit the “$” sign in your response.)
  Net cost$ [removed]  
(c-2)What percent of this $72,000 cost did the treasurer effectively hedge away? (Round your answer to 2 decimal places. Omit the “%” sign in your response.)
  Percentage hedged away[removed] %  
(d) Indicate whether there would be a profit or loss on the futures contracts if interest rates went down.
  
 [removed]Loss[removed]Profit

21.

value:
1.00 points

http://ezto.mhecloud.mcgraw-hill.com/EZTestOnline/Graphics/x.gif

 You did NOT receive full credit for this question in previous attempt.

Problem 9-2 Present value [LO3]

What is the present value of:
Use Appendix B.
(a)$8,100 in 14 years at 7 percent? (Round “PV Factor” to 3 decimal places and final answer to the nearest dollar amount. Omit the “$” sign in your response.)
  Present value$ [removed]  
(b)$16,800 in 9 years at 8 percent? (Round “PV Factor” to 3 decimal places and final answer to the nearest dollar amount. Omit the “$” sign in your response.)
  Present value$ [removed]  
(c)$26,500 in 20 years at 6 percent? (Round “PV Factor” to 3 decimal places and final answer to the nearest dollar amount. Omit the “$” sign in your response.)
  Present value$ [removed]  


rev: 07-22-2011

check my workeBook Linkreference

22.

value:
2.00 points

http://ezto.mhecloud.mcgraw-hill.com/EZTestOnline/Graphics/x.gif

 You did NOT receive full credit for this question in previous attempt.

Problem 9-4 Present value [LO4]

You will receive $6,800 three years from now. The discount rate is 10 percent.
(a)What is the value of your investment two years from now? Multiply $6,800 × .909 (one year’s discount rate at 10 percent). (Round “PV Factor” to 3 decimal places and final answer to the nearest dollar amount. Omit the “$” sign in your response.)
  Value of investment$ [removed]  
(b)What is the value of your investment one year from now? Multiply your answer to part a by .909 (one year’s discount rate at 10 percent). (Round “PV Factor” to 3 decimal places and final answer to 2 decimal places. Omit the “$” sign in your response.)
  Value of investment$ [removed]  
(c)What is the value of your investment today? Multiply your answer to part b by .909 (one year’s discount rate at 10 percent). (Round “PV Factor” to 3 decimal places and final answer to 2 decimal places. Omit the “$” sign in your response.)
  Value of investment$ [removed]  
(d)Calculate the present value by going to Appendix B (present value of $1) for n = 3 and i = 10%. Multiply this tabular value by $6,800 and compare your answer to the answer in part c. There may be a slight difference due to rounding. (Round “PV Factor” to 3 decimal places and final answer to 2 decimal places. Omit the “$” sign in your response.)
  Present value$ [removed]  

23.

value:
2.00 points

http://ezto.mhecloud.mcgraw-hill.com/EZTestOnline/Graphics/x.gif

 You did NOT receive full credit for this question in previous attempt.

Problem 9-5 Future value [LO2]

If you invest $15,500 today, how much will you have:
Use Appendix A.
(a)In 8 years at 7 percent? (Round “FV Factor” to 3 decimal places and final answer to the nearest dollar amount. Omit the “$” sign in your response.)
  Future value$ [removed]  
(b)In 19 years at 10 percent? (Round “FV Factor” to 3 decimal places and final answer to the nearest dollar amount. Omit the “$” sign in your response.)
  Future value$ [removed]  
(c)In 20 years at 12 percent? (Round “FV Factor” to 3 decimal places and final answer to the nearest dollar amount. Omit the “$” sign in your response.)
  Future value$ [removed]  
(d)In 25 years at 12 percent (compounded semiannually)? (Round “FV Factor” to 3 decimal places and final answer to the nearest dollar amount. Omit the “$” sign in your response.)
  Future value$ [removed]  


rev: 07-22-2011

check my workeBook LinkV

24.

value:
2.00 points

http://ezto.mhecloud.mcgraw-hill.com/EZTestOnline/Graphics/x.gif

 You did NOT receive full credit for this question in previous attempt.

Problem 9-8 Present value [LO3]

Your uncle offers you the choice of $104,000 in 10 years or $32,000 today. Use Appendix B.
(a)Calculate the present value of $104,000, if the money is discounted at 8 percent? (Round “PV Factor” to 3 decimal places and final answer to the nearest dollar amount. Omit the “$” sign in your response.)
  Present value$ [removed]  
(b)Which choice should you choose?
  
 [removed]$32,000 today.[removed]$104,000 in 10 years.
(c)Calculate the present value, if you had to wait until 12 years to get the $104,000. (Round “PV Factor” to 3 decimal places and final answer to the nearest dollar amount. Omit the “$” sign in your response.)
  Present value$ [removed]   
(d)Now, which choice should you choose?
  
 [removed]$32,000 today.[removed]$104,000 in 12 years.

25.

value:
2.00 points

http://ezto.mhecloud.mcgraw-hill.com/EZTestOnline/Graphics/x.gif

 You did NOT receive full credit for this question in previous attempt.

Problem 9-10 Present value [LO3]

How much would you have to invest today to receive: Use Appendix B and Appendix D.
(a)$12,250 in 6 years at 10 percent? (Round “PV Factor” to 3 decimal places and final answer to the nearest dollar amount. Omit the “$” sign in your response.)
  Present value$ [removed]  
(b)$16,000 in 14 years at 12 percent? (Round “PV Factor” to 3 decimal places and final answer to the nearest dollar amount. Omit the “$” sign in your response.)
  Present value$ [removed]  
(c)$6,000 each year for 13 years at 9 percent? (Round “PV Factor” to 3 decimal places and final answer to the nearest dollar amount. Omit the “$” sign in your response.)
  Present value$ [removed]  
(d)$42,000 each year for 25 years at 6 percent? (Round “PV Factor” to 3 decimal places and final answer to the nearest dollar amount. Omit the “$” sign in your response.)
  Present value$ [removed] 

26.

value:
1.00 points

Problem 9-11 Future value [LO2]

If you invest $8,300 per period for the following number of periods, how much would you have:
Use Appendix C.
(a)In 10 years at 8 percent? (Use the values provided in the table exactly as given (1, 2, or 3 decimal places). If you use another source for these compounding factors, round to three decimal places. Round your final answer to the nearest dollar amount. Omit the “$” sign in your response.)
  Future value$ [removed]  
(b)In 40 years at 9 percent? (Use the values provided in the table exactly as given (1, 2, or 3 decimal places). If you use another source for these compounding factors, round to three decimal places. Round your final answer to the nearest dollar amount. Omit the “$” sign in your response.)
  Future value$ [removed]  

  
rev: 12_01_2011

27.

value:
1.00 points

Problem 9-21 Future value [LO2]

At a growth (interest) rate of 9 percent annually, how long will it take for a sum to double? To triple? UseAppendix A(Select the year that is closest to the correct answer and round your answers to the nearest whole number.)
 
  Time taken to double[removed]  years   
  Time taken to triple[removed]  years   

28.

value:
2.00 points

Problem 9-25 Quarterly compounding [LO5]

Cousin Bertha invested $119,000 5 years ago at 8 percent, compounded quarterly. How much has she accumulated? Use Appendix A(Round “FV Factor” to 3 decimal places and final answer to the nearest dollar amount. Omit the “$” sign in your response.)
  Future value$ [removed]   


rev: 07-22-2011

 29.

value:
1.00 points

Problem 9-26 Special compounding [LO5]

Determine the amount of money in a savings account at the end of three years, given an initial deposit of $8,500 and an 12 percent annual interest rate when interest is compounded (a) annually, (b) semiannually, and (c) quarterly. Use Appendix A(Round “FV Factor” to 3 decimal places and final answers to the nearest dollar amount. Omit the “$” sign in your response.)
 Future value
  (a) Annually$ [removed]  
  (b) Semiannually$ [removed]  
  (c) Quarterly

 30.

value:
1.00 points

http://ezto.mhecloud.mcgraw-hill.com/EZTestOnline/Graphics/x.gif

 You did NOT receive full credit for this question in previous attempt.

Problem 9-27 Annuity due [LO4]

Annuity payments are assumed to come at the end of each payment period (termed an ordinary annuity). However, an exception occurs when the annuity payments come at the beginning of each period (termed an annuity due). To find the present value of an annuity due, subtract 1 from n and add 1 to the tabular value. To find the future value of an annuity, add 1 to n and subtract 1 from the tabular value. For example, to find the future value of a $100 payment at the beginning of each period for five periods at 10 percent, go to Appendix C for n = 6 and i = 10 percent. Look up the value of 7.716 and subtract 1 from it for an answer of 6.716 or $671.60 ($100 × 6.716). What is the future value of a 13-year annuity of $3,000 per period where payments come at the beginning of each period? The interest rate is 11 percent. Use Appendix C(Round “FV Factor” to 3 decimal places and final answer to the nearest dollar amount. Omit the “$” sign in your response.)
  Future value$ [removed]   


rev: 07-22-2011

check my workeBook Linkreferences

31.

value:
2.00 points

http://ezto.mhecloud.mcgraw-hill.com/EZTestOnline/Graphics/x.gif

 You did NOT receive full credit for this question in previous attempt.

Problem 9-29 Present value alternative [LO3]

Your grandfather has offered you a choice of one of the three following alternatives: $11,500 now; $5,700 a year for eight years; or $77,000 at the end of eight years. Use Appendix B and Appendix D.
(a-1)Assuming you could earn 9 percent annually, compute the present value for the following amounts?(Round “PV Factor” to 3 decimal places and final answers to the nearest dollar amount. Omit the “$” sign in your response.)
 Present value
  $11,500$ [removed]   
  $5,700$ [removed]   
  $77,000$ [removed]   
(a-2)Which alternative should you choose?
  
 [removed]$77,000 received at end of eight years[removed]$5,700 received each year for eight years[removed]$11,500 received now
(b-1)If you could earn 15 percent annually, compute the present value for the following amounts? (Round “PV Factor” to 3 decimal places and final answers to the nearest dollar amount. Omit the “$” sign in your response.)
 Present value
  $11,500$ [removed]   
  $5,700$ [removed]   
  $77,000$ [removed]   
(b-2)Which alternative should you choose?
  
 [removed]$5,700 received each year for eight years[removed]$77,000 received at end of eight years[removed]$11,500 received now

 32.

value:
2.00 points

http://ezto.mhecloud.mcgraw-hill.com/EZTestOnline/Graphics/x.gif

 You did NOT receive full credit for this question in previous attempt.

Problem 9-30 Payments required [LO4]

You need $25,956 at the end of ten years, and your only investment outlet is a 7 percent long-term certificate of deposit (compounded annually). With the certificate of deposit, you make an initial investment at the beginning of the first year. Use Appendix B and Appendix C.
(a)What single payment could be made at the beginning of the first year to achieve this objective? (Round “PV Factor” to 3 decimal places and final answer to 2 decimal places. Omit the “$” sign in your response.)
  Single payment made$ [removed]  
(b)What amount could you pay at the end of each year annually for ten years to achieve this same objective? (Round “FV Factor” to 3 decimal places and final answer to the nearest dollar amount. Omit the “$” sign in your response.)
  Amount to be paid$ [removed]  

33.

value:
1.00 points

Problem 9-32 Yield [LO4]

Franklin Templeton has just invested $9,660 for his son (age one). This money will be used for his son’s education 18 years from now. He calculates that he will need $53,667 by the time the boy goes to school.
What rate of return will Mr. Templeton need in order to achieve this goal? Use Appendix A and Appendix B.(Round “PV Factor” to 3 decimal places and final answer to the closest interest rate. Omit the “%” sign in your response.)
  Rate of return [removed] %  

34.

value:
1.00 points

http://ezto.mhecloud.mcgraw-hill.com/EZTestOnline/Graphics/x.gif

 You did NOT receive full credit for this question in previous attempt.

Problem 9-37 Solving for an annuity [LO4]

You wish to retire in 20 years, at which time you want to have accumulated enough money to receive an annual annuity of $24,000 for 25 years after retirement. During the period before retirement you can earn 10 percent annually, while after retirement you can earn 12 percent on your money.
What annual contributions to the retirement fund will allow you to receive the $24,000 annuity? Use Appendix C and Appendix D(Round “PV Factor” and “FV Factor” to 3 decimal places and final answer to 2 decimal places. Omit the “$” sign in your response.)
  Annual contribution$ [removed]  

 35.

value:
1.00 points

http://ezto.mhecloud.mcgraw-hill.com/EZTestOnline/Graphics/x.gif

 You did NOT receive full credit for this question in previous attempt.

Problem 9-38 Deferred annuity [LO3]

Rusty Steele will receive the following payments at the end of the next three years: $17,000, $20,000, and $22,000. Then from the end of the fourth year through the end of the tenth year, he will receive an annuity of $23,000.
At a discount rate of 10 percent, what is the present value of all future benefits? Use Appendix B and Appendix D(Round “PV Factor” to 3 decimal places, intermediate and final answers to the nearest dollar amount. Omit the “$” sign in your response.)
  Present value of all future benefits

36.

value:
2.00 points

http://ezto.mhecloud.mcgraw-hill.com/EZTestOnline/Graphics/x.gif

 You did NOT receive full credit for this question in previous attempt.

Problem 9-43 Loan repayment [LO4]

If your aunt borrows $52,000 from the bank at 10 percent interest over the eight-year life of the loan. UseAppendix D.
(a)What equal annual payments must be made to discharge the loan, plus pay the bank its required rate of interest? (Round “PV Factor” to 3 decimal places and final answer to 2 decimal places. Omit the “$” sign in your response.)
  Annual payments$[removed]  
(b)How much of her first payment will be applied to interest? To principal? (Round your answers to 2 decimal places. Omit the “$” sign in your response.)
 First
payment
  Interest$[removed]
  Principal$[removed]
(c)How much of her second payment will be applied to each? (Round your answers to 2 decimal places. Omit the “$” sign in your response.)
 Second
payment
  Interest$[removed]  
  Principal$[removed]  

37.

value:
2.00 points

http://ezto.mhecloud.mcgraw-hill.com/EZTestOnline/Graphics/x.gif

 You did NOT receive full credit for this question in previous attempt.

Problem 9-45 Annuity with changing interest rates [LO4]

You are chairperson of the investment fund for the Continental Soccer League. You are asked to set up a fund of semiannual payments to be compounded semiannually to accumulate a sum of $210,000 after 8 years at an 10 percent annual rate (16 payments). The first payment into the fund is to take place six months from today, and the last payment is to take place at the end of the 8th year. Use Appendix A andAppendix C.
(a)Determine how much the semiannual payment should be. (Round “FV Factor” to 3 decimal places and final answer to the nearest dollar amount. Omit the “$” sign in your response.)
  Semi-annual payment$[removed]  
On the day after the sixth payment is made (the beginning of the fourth year) the interest rate goes up to a 12 percent annual rate, and you can earn a 12 percent annual rate on funds that have been accumulated as well as all future payments into the fund. Interest is to be compounded semiannually on all funds.
(b)Determine how much the revised semiannual payments should be after this rate change (there are 10 payments and compounding dates). The next payment will be in the middle of the fourth year. (Round “FV Factor” to 3 decimal places, intermediate and final answer to the nearest dollar amount. Omit the “$” sign in your response.)
  Revised semi-annual payments$[removed]  


rev: 10_27_2011

 38.

value:
1.00 points

http://ezto.mhecloud.mcgraw-hill.com/EZTestOnline/Graphics/x.gif

 You did NOT receive full credit for this question in previous attempt.

Problem 9-7 Present value [LO3]

Your uncle offers you the choice of $108,000 in 10 years or $37,000 today. Use Appendix B.
(a)Calculate the present value of $108,000, if the money is discounted at 11 percent? (Round “PV Factor” to 3 decimal places and final answer to the nearest dollar amount. Omit the “$” sign in your response.)
  Present value$ [removed]  
(b)Which choice should you choose?
  
 [removed]$108,000 after 10 years.[removed]$37,000 today.

-Bottom of Form

Categories
custom thesis personal statement writer term paper writing service thesis help

five-step marketing research approach

¨Solving the Problem: Five-Step Marketing Research Approach & Product Life-Cycle (PLC) Presentation

¨ 

¨Slides must be emailed by Week #2, while the presentations will take place in the Week 2, 3 and 4.

¨ 

¨Purpose of Assignment 

¨The purpose of this assignment is to place students in the active role of a marketing manager with a problem threatening the organization’s survival. Students will respond to a specific scenario that requires them to address the concepts both critically and creatively to solve the scenario’s dilemma. 

¨Assignment Steps 

¨Resources: Marketing: Ch. 2: pg. 40-46, 54-69; Ch. 3: pg. 72-92; Ch. 8: pg. 207-227; Ch. 9: pg. 242-257; Week 2 video

¨Scenario: Select a local non-profit charity/organization whose funding is based on membership fees. You are the marketing manager. You’ve noticed a severe drop in new memberships and a decline in repeat memberships, which is threatening your organization’s ability to survive and grow. You have decided to implement the Five-Step Marketing Research Process to help understand the problem and create solution strategies to implement.  

¨You are also working as the marketing manager of your favorite company and manage the success of one of its products or services. Select a product/service. Your responsibility is to monitor the stages of the Product Life Cycle (PLC) and adjust the marketing strategies as needed for your product to thrive for as long as possible.

¨Create a 10 min Microsoft® PowerPoint® presentation on the Five-Step Marketing Research Approach for your non-profit organization and on the PLC on your company. Present how you will use each step to solve the membership issue the local nonprofit charity is facing and how will you manage PLC for your product. Be specific.  

¨Address the following in your role as marketing manager:

¨Part 1. Define the Five-Step Marketing Research Approach and discuss the importance of research in marketing illustrating with the examples. Steps in Marketing Research Process:

¡Define the Problem. …

¡Develop Your Research Plan. …

¡Collect Relevant Data and Information. …

¡Analyze Data and Report Findings. …

¡Recommend the Course of Action.

¨Describe each step of the Marketing Research Approach (one slide for each step) in detail including its goal, and create an example aligned to the scenario above to illustrate how that stage would be implemented toward the problem’s solution. Define the two types of research data this process gathers and their pros and cons. 

¨ 

¨Part 2. For your selected product/service create one slide for each of the four stages of the PLC (Product Life Cycle) describing the stage and analyze the implications each stage may have on price strategy, product, competition, and profit. Use the product/service you selected to illustrate each stage as it is discussed with original examples.

¨Discuss the reasoning behind why the PLC is important to marketing managers and share examples of possible implications if it is not monitored.

¨Cite a minimum of two peer-reviewed sources with one being from the textbook or the University Library. 

Categories
custom thesis term paper writing service thesis help

the highest element in the hierarchical breakdown of the wbs is

1. Project selection criteria are typically classified as:

a. Financial and non-financial

b. Short-term and long-term

c. Strategic and tactical

d. Required and optional

e. Cost and schedule

2. In a project meeting, if someone suggested using a “parking lot”, this would refer to:

a. A decision to put the project on hold

b. A waiting list for discussion items not on the agenda

c. A warning that the sponsor has withheld resources

d. Removal of a team member from the project

3. The highest element in the hierarchical breakdown of the WBS is

a. A working package

b. Sub deliverables

c. A cost account

d. Major deliverables

e. The Project

4. Typically an activity on a project network represents

a. A single work package

b. One or more tasks from a work package

c. Several work packages

d. A sub-deliverable

e. A cost account

5. When is the best time for project team members to engage in a detailed analysis of potential uncertainties?

a. While they are setting up the monitoring system

b. After they have created the detailed schedule

c. After they have developed the WBS

d. Before they select the project

e. Just before they develop the WBS

6. Reasons why estimating time and cost are important include all of the following except:

a. To schedule work

b. To determine how long the project take and cost

c. To develop cash flow needs

d. To determine how well the project is progressing

e. All of the above are valid reasons

8.

9. What is the difference between the critical path and the critical chain?

Answer

a. The critical chain considers resource availability and the critical path does not

b. The critical path considers resource availability and the critical chain does not

c. It is possible to crash activities on the critical path, but activities on the critical chain have already been reduced to their shortest feasible durations.

d. There is no difference – they are exactly the same

10. In critical chain terminology, removing some of the time buffer from individual activity estimates and moving them collectively to the end of the project is an example of:

Answer

a. Inserting a resource buffer

b. Inserting a project buffer

c. Inserting a feeding buffer

11. Which of these are characteristics of the best project managers?

Answer

a. Disciplined, yet flexible

b. Creative, but not too technical

c. Sensitive, yet tyrannical

d. Extrovert

12. __________activities are the completed immediately following a particular activitiy

a. Merge

b. Burst

c. Predecessor

d. Successor

e. Critical

13. In contrast to the triple constraint, a balance scorecard perspective in a project environment offers which of the following advantages?

a. Appreciation for strategic context

b. More focus on operational details

c. Understanding of tradeoffs

d. Measurement of project cost

14. Which of the following in the correct order for the strategic management process?

a. Strategies, mission, goals, projects

b. Goals, projects, mission, strategies

c. Mission, goals, strategies, projects

d. Goals, mission, strategies, projects

e. Projects, mission, strategies, goals

15. Which of these is a potential disadvantage of a real options approach?

a. Apples only to financial projects

b. Requires a project team to stick with a rigid plan that allows no deviation when new information becomes available

c. Project teams can find it difficult to abandon or shift the direction of a project since they have invested their time and energy

d. Involves only go-n-go options rather than potential for re-routing plans

16. Which of these is the best guideline for determining how far a team should go in breaking down the WBS?

a. Each work package should require between 1-8 hours to complete

b. If it is useful for planning, accountability, or control purposes to break a task down into another component parts, then do so

c. Each work package should require between 8 and 800 hours to complete

d. The level of detail the project team uses in planning a project should match the level of detail it uses for control

17. The bottom-up approach for estimating times and costs that uses cost from past projects that were similar to the current project is known as:

a. Detailed WBS work package estimates

b. Template method

c. Function point method

d. Time-phased cost estimates

e. Phase estimating

18. Using the following figures calculate the monthly incremental crash cost for this activity

Normal time = 6 months Crash time = 4 months

Normal cost = 27,000 Crash cost = 35,000

a. 4,000

b. 6000

c. 8,000

d. 12,000

19. Which of the following characteristics would make an activity an unattractive candidate for crashing?

a. It has a long duration

b. Employees required to do the job have highly specialized skills

c. It is in a bottleneck position

d. It is on the critical path

20. Which of the following tools for causal analysis would be the most appropriate to apply to the following situation: “We experienced low attendance and dismal sales during the grand opening of our newest retail store in Cairo last week. Let’s gather a small team to engage in a structured discussion about the interacting set of factors that worked systematically to create this situation.”

Answer

a. Affinity exercise

b. Mind map

c. Fishbone diagram

d. Influence diagram

21. Select all that apply: Which of the following is (are) characteristics of a fixed-price contract?

Answer

a) The supplier bills the customer for all costs involved in completing the work

b) The work should be open-ended to allow for adaptation to changing customer requirements

c) Low risk for the customer

d) The work must be clearly specific and well-defined

22. The integration of project work packages within the organization’s management structure is known as

Answer

a. Responsibility matrix

b. Organization breakdown structure

c. Work breakdown structure

d. Priority matrix

e. Process breakdown structure

23. Which of the following is provided by a project network but not by the work breakdown structure?

Answer

a. Dependencies

b. Sequencing

c. Interrelationships

d. Both A and B are correct

e. A, B, and C are all correct

Categories
custom thesis personal statement writer term paper writing service thesis help

compared with a service operation, a manufacturing operation’s capacity is which of the following?

1. (TCOs 1 and 2) Current issues in OSCM do not include

(Points : 4)

       coordinating relationships between organizations.

       making senior management aware that OSCM can be a competitive weapon.

       the triple bottom line.

       managing customer touch points.

       increasing global supply chain employment.    

Question 2.2. (TCO 1) One of the package of features that make up a service is

(Points : 4)

       appearance.

       facilitating goods.

       packaging.

       cost.

       implied use.

Question 3.3. (TCO 5) Which of the following are used to describe the degree of error? (Points : 4)

       Weighted moving average

       Regression

       Moving average

       Forecast as a percent of actual

       Mean absolute deviation   

Question 4.4. (TCO 5) Compared with a service operation, a manufacturing operation’s capacity is which of the following? (Points : 4)

       More dependent on time and location

       Subject to more volatile demand fluctuations

       Utilization more directly impacts quality

       Demand can be smoothed by inventory policies

       More capable of reacting to demand fluctuations

Question 5.5. (TCO 6) The Malcolm Baldrige National Quality Award is given to organizations that have done which of the following? (Points : 4)

       Instituted a six-sigma approach to total quality control

       Demonstrated a high level of product quality

       Demonstrated outstanding quality in their products and processes

       Have a world-class quality control function

       Most significantly improved their product quality levels

Question 6.6. (TCOs 3 and 7) Which of the following is considered a high-contact service operation?

(Points : 4)

       Online brokerage house

       Internet sales for a department store

       Physician practice

       Telephone life insurance sales and service

       Automobile repair

Question 7.7. (TCOs 7 and 8) Matching the production rate to the order rate by hiring and laying off employees as the order rate varies is which of the following pure production planning strategies? (Points : 4)

       Stable workforce, variable work hours

       Chase

       Level

       Meeting demand

       Minimizing inventory

Question 8.8. (TCOs 4 and 8) Which of the following is an assumption of the basic fixed-order quantity inventory model? (Points : 4)

       Lead times are averaged

       Ordering costs are variable

       Price per unit of product is constant

       Back orders are allowed

       Stock-out costs are high

Question 9.9. (TCO 3) Which of the following is not an improvement-driven reason to outsource? (Points : 4)

       Improve risk management

       Increase commitment in a noncore area

       Shorten cycle time

       Improve quality and productivity

       Obtain expertise, skills, and technologies that are otherwise not available

Question 10.10. (TCO 9) Very few products are moved without at least part of their journey being by which mode of transportation? (Points : 4)

       Highway

       Rail

       Water

       Pipeline

       Air

1. (TCO 4) a company has recorded the last 5 days of daily demand on their only product. Those values are 120, 125, 124, 128, and 133. The time from when an order is placed to when it arrives at the company from its vendor is 5 days. Assuming the basic fixed-order quantity inventory model fits this situation and no safety stock is needed, which of the following is the reorder point (R)?

(Points : 10)

       120

       126

       630

       950

       1,200

Question 2.2. (TCO 4) You would like to use the fixed-time period inventory model to compute the desired order quantity for a company. You know that vendor lead time is 5 days and the number of days between reviews is 7. Which of the following is the standard deviation of demand over the review and lead time if the standard deviation of daily demand is 8?

(Points : 10)

       About 27.7

       About 32.8

       About 35.8

       About 39.9

       About 45.0

Question 3.3. (TCOs 3, 4, and 5) You would like to use the fixed-time period inventory model to compute the desired order quantity for a company. You know that vendor lead time is 10 days and the number of days between reviews is 15. Which of the following is the standard deviation of demand over the review and lead time period if the standard deviation of daily demand is 10?

(Points : 10)

       25

       40

       50

       73

       100

Question 4.4. (TCO 5) If a firm produced a product that was experiencing growth in demand, the smoothing constant alpha (reaction rate to differences) used in an exponential smoothing forecasting model would tend to be which of the following?

(Points : 10)

       Close to 0

       A very low percentage, less than 10%

       The more rapid the growth, the higher the percentage

       The more rapid the growth, the lower the percentage

       50 % or more

Question 5.5. (TCO 2) Various financial data for SunPath Manufacturing for 2012 and 2013 follow.

What is the percentage change in the multifactor labor and raw materials productivity measure for SunPath between 2012 and 2013?

2012

2013

Output:

Sales:

$300,000

$330,000

Inputs:

Labor:

$40,000

$43,000

Raw Materials:

$45,000

$51,000

Energy:

$10,000

$9,000

Capital Employed:

$250,000

$262,000

Other

$2,000

$6,000

(Points : 10)

       -9.22

       2.33

       -0.53

       -2.88

       10.39

Question 6.6. (TCO 5) A company wants to forecast demand using the simple moving average. If the company uses four prior yearly sales values (i.e., year 2010 = 100, year 2011 = 120, year 2012 = 140, and year 2013 = 210), which of the following is the simple moving average forecast for year 2014?

(Points : 10)

       100.5

       140.0

       142.5

       145.5

       155.0

Question 7.7. (TCO 5) If demand for product “A” were forecast at 1,000,000 units for the coming year and your factory has one machine capable of producing 4,500 units per week, how many similar machines might you plan to acquire? (Points : 10)

       10

       Four

       Eight

       12

       50

Question 8.8. (TCO 3) In setting up a Kanban control system, you need to determine the number of Kanban card sets needed. If the expected demand during lead time is 50 per hour, the safety stock is 20% of the demand during lead time and the container size is four. If the lead time to replenish an order is 8 hours, what number of Kanban card sets is needed? (Points : 10)

       60

       80

       90

       120

       150

Question 9.9. (TCO 7) For an infinite queuing situation, if the arrival rate for loading trucks is five trucks per hour, what is the mean time between arrivals?

(Points : 10)

       5 hours

       2.5 hours

       0.2 hours

       0.1 hours

       None of the above

Question 10.10. (TCO 8) If annual demand is 6,125 units, annual holding cost is $5 per unit, and setup cost per order is $50, which of the following is the EOQ lot size?

(Points : 10)

       350

       247

       23

       185

       78

Categories
custom term paper writing term paper writing service thesis help

strayer.edu login

Communicating professionally and ethically is one of the essential skillsets we can teach you at Strayer. The following guidelines will ensure:

· Your writing is professional · You avoid plagiarizing others, which is essential to writing ethically · You give credit to others in your work

Visit Strayer’s Academic Integrity Center for more information.

Strayer University Writing Standards

1Strayer University Writing Standardshttps://pslogin.strayer.edu/?dest=academic-support/academic-integrity-center

… If your assignment requires a title page, include the assignment title, your name, course title, your professor’s name, and the date of submission on a separate page.

… If your assignment does not require a title page, include the assignment title, your name, course title, your professor’s name, and the date of submission in the header of your document.

… Include page numbers.

… Use 1-inch margins.

… Use Arial, Courier, Times New Roman, or Calibri font style.

… Use 10, 11, or 12 point font size for the body of your text.

… Use either single or double spacing, according to assignment guidelines.

… See assignment guidelines for instructions to format tables/charts/graphs/ images.

… Use appropriate language and be concise.

… Write in active voice when possible. Find tips here.

… Use the point of view (first, second, or third person) required by the assignment guidelines.

… Use spelling and grammar check and proofread to help ensure your work is error free.

… Use credible sources to support your ideas/work. Find tips here.

… Cite your sources throughout your work when you borrow someone else’s words or ideas. Give credit to the authors.

… Add each cited source to the source list at the end of your assignment so that your reader can find and reference the original material. (See In-Text Citations section for more details.)

… Don’t forget to cite and add your textbook to the source list if you use it as a source.

… Include a source list when the assignment requires research or if you cite the textbook.

… Type “Sources” centered on the first line of the page.

… List the sources that you used in your assignment.

… Organize sources in a numbered list and in order of use throughout the paper. Use the original number when citing a source multiple times.

Writing Assignments

Title Your Work

Use Appropriate Formatting

Write Clearly

Cite Credible Sources

Build a Source List

Strayer University Writing Standards 2https://owl.english.purdue.edu/owl/resource/539/01/http://libdatab.strayer.edu/login?url=http://search.ebscohost.com/login.aspx?direct=true&db=ers&AN=98402046&site=eds-live&scope=site

Giving Credit to Authors and Sources When quoting or paraphrasing another source in your writing, you need to give credit by using an in-text citation. An in-text citation includes the author’s last name and the number of the source from the source list. Find tips here.

Option #1: Paraphrasing Rewording Source Information in Your Own Words

· Take the source information and rephrase it in your words. Be sure not to repeat the same words of the author.

· Add a number to the end of your source (which will tie to your source list).

· Remember, you cannot just replace the words of the original sentence.

 Examples ORIGINAL SOURCE

“Writing at a college level requires informed research.”

PARAPHRASING

As Harvey wrote, when writing a paper for higher education, it is critical to research and cite sources (1).

When writing a paper for higher education, it is imperative to research and cite sources (Harvey, 1).

Option #2: Quoting Citing another person’s work word for word

· Place quotation marks at the beginning and the end of the quoted information.

· Add a number to the end of your quote (which matches your source list).

· Do not quote more than one to two sentences (approximately 25 words) at a time.

· Do not start a sentence with a quotation. · Introduce and explain quotes within the context of your

paper.

 Examples ORIGINAL SOURCE

“Writing at a college level requires informed research.”

QUOTING

Harvey wrote in his book, “Writing at a college level requires informed research” (1).

Many authors agree, “Writing at a college level requires informed research” (Harvey, 1).

Strayer University Writing Standards 3http://libdatab.strayer.edu/login?url=http://search.ebscohost.com/login.aspx?direct=true&db=ers&AN=98402046&site=eds-live&scope=site

Source List The source list (which includes the sources that you used in your assignment) is a new page that you will add at the end of your paper. The list has two purposes: it gives credit to the authors that you use and gives your readers enough information to find the source without your help. Build your source list as you write.

Strayer University Writing Standards 4

· Type “Sources” at the top of a new page. · Include a numbered list of the sources you used in your paper. (the numbers

indicate the order in which you used them). A well-researched assignment has at least as many sources as pages.

1. Use the number one (1) for the first source used in the paper, the number two (2) for the second source, and so on.

2. Use the same number for a source if you use it multiple times.

· Ensure each source includes four parts: author or organization, publication date, title, and how to find it. If you have trouble finding these details, then re- evaluate the credibility of your source.

· Use the browser link for a public webpage. · Look for a permalink tool for a webpage, which requires logging in, such as the

Strayer Library.

· Write a comment instructing your readers how to find all sources that do not have a browser link or a permalink.

Source List Elements AUTHOR PUBLICATION DATE TITLE HOW TO FIND

 Examples Michael Harvey

In the case of multiple authors, only list the first.

2013

This is not the same as copyright date, which is denoted by ©

The Nuts & Bolts of College Writing

http://libdatab.strayer.edu/login?url=http:// search.ebscohost.com/login.aspx?direct =true&db=nlebk&AN=590706&site=eds- live&scope=site

 How it Will Look in Your Source List 1. Michael Harvey, 2013, The Nuts & Bolts of College Writing, http://libdatab.strayer.edu/login?url=http://search. ebscohost.com/login.aspx?direct=true&db=nlebk&AN=590706&site=eds-live&scope=site

Setting Up the Page

Building a Source List

 Sample Source List 1. Michael Harvey, 2013, The Nuts & Bolts of College Writing, http://libdatab.strayer.edu/login?url=http://search.

ebscohost.com/login.aspx?direct=true&db=nlebk&AN=590706&site=eds-live&scope=site

2. William R. Stanek, 2010, Storyboarding Techniques chapter in Effective Writing for Business, College and Life, http:// libdatab.strayer.edu/login?url=http://search.ebscohost.com/login.aspx?direct=true&db=nlebk&AN=359141&site=e ds-live&scope=site&ebv=EB&ppid=pp_23

3. Zyad Hicham, 2017, Vocabulary Growth in College-Level Students’ Narrative Writing, http://libdatab.strayer.edu/ login?url=http://search.ebscohost.com/login.aspx?direct=true&db=edsdoj&AN=edsdoj.9b7fad40e529462bafe3a936 aaf81420&site=eds-live&scope=site

4. Anya Kamenetz, July 10, 2015, The Writing Assignment That Changes Lives, https://www.npr.org/sections/ ed/2015/07/10/419202925/the-writing-assignment-that-changes-lives

5. Brad Thor, June 14, 2016, The Best Writing Advice I Ever Got, http://time.com/4363050/brad-thor-best-writing-advice/

6. Karen Hertzberg, June 15, 2017, How to Improve Writing Skills in 15 Easy Steps, https://www.grammarly.com/blog/ how-to-improve-writing-skills/

7. Roy Peter Clark, 2008, Writing Tools: 55 Essential Strategies for Every Writer

8. C.M. Gill, 2014, The Psychology of Grading and Scoring, Essential Writing Skills for College & Beyond

9. ABC Company’s Policy & Procedures Committee, Employee Dress and Attendance Policy, this is a policy in my office

10. Henry M. Sayre, 2014, The Humanities: Culture, Continuity and Change Vol 1, this is the HUM111 textbook

Strayer University Writing Standards 5

Categories
custom term paper writing term paper help term paper writing service

which of the following cools the air in a household refrigerator?

Exam: 986052RR – Heat

1. The _______ is used to express absolute temperatures in the English system of measurement.

A. Rankine scale

B. Celsius scale

C. Kelvin scale

D. Fahrenheit scale

2. A silver bar 0.125 meter long is subjected to a temperature change from 200°C to 100°C. What will be the length of the bar after the temperature change?

A. 0.0000189 meter

B. 0.00023635 meter

C. 0.00002363 meter

D. 0.124764 meter

3. The density of water is the greatest at a temperature of

A. 277 K.

B. 273 K.

C. 0 K.

D. 4 K.

4. The amount of heat energy required to raise the temperature of a unit mass of a material one degree is

A. a Joule.

B. a Btu.

C. absolute zero.

D. its heat capacity.

5. Which of the following cools the air in a household refrigerator?

A. Absorption of the heat from the air due to evaporation of the liquid refrigerant

B. Reduction of the air temperature due to condensation of the gaseous refrigerant

C. The transfer of heat from the air to the compressor due to expansion of the gaseous refrigerant

D. The transfer of heat to the evaporator due to compression of the liquid refrigerant

6. Within an internal combustion engine, the can-shaped component that moves up and down the cylinder

and is the main moving part in the engine is the

A. connecting rod.

B. piston.

C. spark plug.

D. crankshaft.

7. A temperature of 200°F is equivalent to approximately

A. 840°C.

B. 232°C.

C. 93.3°C.

D. 37.8°C.

8. The process in which a substance changes from a gaseous state to the liquid state is

A. evaporation.

B. critical temperature.

C. absolute zero.

D. condensation.

9. 20 cubic inches of a gas with an absolute pressure of 5 psi is compressed until its pressure reaches 10

psi. What is the new volume of the gas? (Assume that there’s no change in temperature.)

A. 10 cubic inches

B. 100 cubic inches

C. 40 cubic inches

D. 5 cubic inches

10. A quantity of gas has a volume of 0.20 cubic meter and an absolute temperature of 333 degrees kelvin.

When the temperature of the gas is raised to 533 degrees kelvin, what is the new volume of the gas?

(Assume that there’s no change in pressure.)

A. 0.2146 m

B. 0.3198 m

C. 0.2333 m

D. 0.0006 m

3

3

3

3

11. Which of the following statements correctly describes the position of the intake and exhaust valves

during most of the power stage in a four-cycle gas engine?

A. The intake valve is open and the exhaust valve is closed.

B. The intake valve is closed and the exhaust valve is open.

C. Both the intake valve and the exhaust valve are open.

D. Both the intake valve and the exhaust valve are closed.

12. How much heat is required to convert 0.3 kilogram of ice at 0°C to water at the same temperature?

A. 450,759 J

B. 100,375 J

C. 334,584 J

D. 167,292 J

13. What is the value of the temperature 15 degrees Celsius in degrees Kelvin?

A. 258 degrees

B. 455 degrees

C. 288 degrees

D. 475 degrees

14. Liquid alcohol will change to vapor when its temperature reaches the

A. melting point.

B. fusing point.

C. boiling point.

D. freezing point.

15. When the molecules in a body move with increased speed, it’s possible that the body will change from

a

A. gas to a solid.

B. liquid to a solid.

C. gas to a liquid.

D. liquid to a gas.

16. If the absolute pressure of a gas is 550.280 kPa, its gage pressure is

A. 651.605 kPa.

B. 277.280 kPa.

C. 101.325 kPa.

D. 448.955 kPa.

17. A temperature of 273 K is the temperature at which water

A. evaporates.

B. boils.

C. lacks any moving molecules.

D. freezes.

18. A quantity of a gas has an absolute pressure of 400 kPa and an absolute temperature of 110 degrees

kelvin. When the temperature of the gas is raised to 235 degrees kelvin, what is the new pressure of the

gas? (Assume that there’s no change in volume.)

A. 854.46 kPa

B. 510 kPa

C. 1.702 kPa

D. 3.636 kPa

19. Which one of the following temperatures is equal to 5°C?

A. 278 K

B. 41 K

C. 465 K

D. 0 K

20. One degree Celsius indicates the same temperature change as

A. 5/9 degree Fahrenheit.

B. one kelvin.

C. 9/5 kelvin.

D. one degree Fahrenheit.

21. The waste products of combustion leave the internal combustion engine through the

A. cylinder.

B. exhaust valve.

C. crankshaft.

D. intake valve.

22. During the stage of internal combustion engine operation in which the piston rises and compresses the

fuel in the combustion chamber,

A. the intake valve is open and the exhaust valve is closed.

B. the exhaust valve is open and the intake valve is closed.

C. both the intake and exhaust valves are open.

D. both the intake and exhaust valves are closed.

23. Which of the following takes place in the combustion chamber of a gas turbine engine?

A. Fuel oil is stored with sufficient pressure.

B. A mixture of fuel oil and compressed air is ignited.

C. Gases are cooled to a desired temperature.

D. Fuel oil is mixed with a proper portion of compressed air.

24. What is the temperature 32 degrees Fahrenheit in degrees Celsius?

A. 10 degrees Celsius

B. 20 degrees Celsius

C. –10 degrees Celsius

D. 0 degrees Celsius

25. What is the length of an aluminum rod at 65°C if its length at 15°C is 1.2 meters?

A. 0.00180 meter

B. 0.001386 meter

C. 1.201386 meters

D. 1.214855 meters

Exam: 986051RR – Mechanics

1. A tank with a flat bottom is filled with water to a height of 4 meters. What is the pressure at any point at

the bottom of the tank? (You can ignore atmospheric pressure when calculating your answer.)

A. 4.0 kPa

B. 39.2 kPa

C. 18.9 kPa

D. 9.8 kPa

2. When an automotive battery is fully charged, the sulfuric acid and water mixture will have a specific

gravity of about

A. 0.15.

B. 2.5.

C. 1.3.

D. 1.0.

3. If a small-diameter open glass tube is partially immersed in a vessel containing mercury, the surface of

the mercury inside the tube will be

A. lower than the mercury in the vessel, and shaped like the inside of a bowl.

B. higher than the mercury in the vessel, and shaped like the outside of an umbrella.

C. higher than the mercury in the vessel, and shaped like the inside of a bowl.

D. lower than the mercury in the vessel, and shaped like the outside of an umbrella.

4. According to Ptolemy’s model of the movement of celestial bodies,

A. the earth rotates around the moon.

B. the earth rotates around the sun.

C. the sun is the center of the universe.

D. planets orbit in circular paths around the earth.

5. A stone falls from a ledge and takes 8 seconds to hit the ground. The stone has an original velocity of 0

m/s. How tall is the ledge?

A. 313.6 meters

B. 78.4 meters

C. 39.2 meters

D. 1,254.4 meters

6. A steel block has a volume of 0.08 m³ and a density of 7,840 kg/m³. What is the force of gravity acting

on the block (the weight) in water?

A. 6,700.56 N

B. 7,600.18 N

C. 5,362.56 N

D. 6,150.64 N

7. A car with a mass of 1,200 kilograms is moving around a circular curve at a uniform velocity of 20

meters per second. The centripetal force on the car is 6,000 newtons. What is the radius of the curve?

A. 32 meters

B. 16 meters

C. 160 meters

D. 80 meters

8. An object has a mass of 120 kg on the moon. What is the force of gravity acting on the object on the

moon?

A. 1,176 N

B. 12.24 N

C. 20 N

D. 196 N

9. A naturally occurring force related to two bodies in motion is _______ force.

A. gravitational

B. centrifugal

C. centripetal

D. frictional

10. If a stone with an original velocity of 0 is falling from a ledge and takes 8 seconds to hit the ground,

what is the final velocity of the stone?

A. 39.2 m/s

B. 78.4 m/s

C. 156.8 m/s

D. 42.6 m/s

11. Steve and Carl are driving from Scranton to Bridgeport, a distance of 180 miles. If their speed averages

60 miles an hour, how long will it take them to get there?

A. 3.5 hours

B. 3 hours

C. 4 hours

D. 2.5 hours

12. What force is required to accelerate a body with a mass of 15 kilograms at a rate of 8 m/s²?

A. 120 N

B. 23 kg

C. 23 N

D. 1.875 kg

13. In which of the following units is acceleration expressed?

A. Kilograms

B. Newtons

C. Meters per second squared

D. Foot-pounds

14. The metric unit of force is the

A. gram.

B. newton.

C. nanometer.

D. kilogram.

15. The main difference between speed and velocity involves

A. direction.

B. gravity.

C. weight.

D. distance.

16. A car with a mass of 2,000 kilograms is moving around a circular curve at a uniform velocity of 25

meters per second. The curve has a radius of 80 meters. What is the centripetal force on the car?

A. 703 N

B. 20,250 N

C. 15,625 N

D. 625 N

17. A center-seeking force related to acceleration is _______ force.

A. centripetal

B. centrifugal

C. frictional

D. gravitational

18. What is the kinetic energy of an object that has a mass of 30 kilograms and moves with a velocity of 20

m/s?

A. 6,000 J

B. 5,880 J

C. 12,000 J

D. 2,940 J

19. If the velocity of an object changes from 65 m/s to 98 m/s during a time interval of 12 s, what is the

acceleration of the object?

A. 13.58 m/s

B. 5.42 m/s

C. 33 m/s

D. 2.75 m/s

20. The ratio of output power to input power, in percent, is called

A. conductivity.

B. efficiency.

C. horsepower.

D. work.

21. The model of the universe that suggests that the sun is the center of the universe was first brought by

A. Brahe.

B. Kepler.

C. Ptolemy.

D. Copernicus.

22. The ability of a material to transfer heat or electric current is called

A. porosity.

B. insulation.

C. convection.

D. conductivity.

23. If an object has a mass of 20 kg, what is the force of gravity acting on it on earth?

A. 32.67 N

B. 1.96 kg

C. 2.04 kg

D. 196 N

24. If a gas has a gage pressure of 156 kPa, its absolute pressure is approximately

A. 256 kPa.

B. 56 kPa.

C. 100 kPa

D. 300 kPa.

25. Within the metric system all units are based on the number

A. 1000.

B. 10.

C. 1.

D. 100.

Exam: 986053RR – Sound

1. The multiple reflection of a single sound wave is a/an

A. echo.

B. refraction.

C. diffraction.

D. reverberation.

2. A surface receiving sound is moved from its original position to a position three times farther away from

the source of the sound. The intensity of the received sound thus becomes

A. nine times as high.

B. nine times as low.

C. three times as low.

D. three times as high.

3. When the temperature of the air is 25°C, the velocity of a sound wave traveling through the air is

approximately

A. 332 m/s.

B. 347 m/s.

C. 320 m/s.

D. 357 m/s.

4. If a wave hits a smooth surface at an angle of incidence of 40 degrees, the angle of reflection is

A. 40 degrees.

B. 0 degrees.

C. 80 degrees.

D. 90 degrees.

5. A wave with a period of 0.008 second has a frequency of

A. 125 Hz.

B. 12.5 Hz.

C. 80 Hz.

D. 800 Hz.

6. In a transverse wave that travels through a medium, the molecules of the medium vibrate

A. in the direction in which the wave travels.

B. at right angles to the direction in which the wave travels.

C. with smaller amplitudes than the molecules in a longitudinal wave.

D. at twice the velocity of the molecules in a longitudinal wave.

7. The function of the eardrum in the middle ear is to

A. vibrate with the frequency of the received sound.

B. collect the sound waves.

C. amplify the received sound.

D. carry the sound energy to the brain.

8. The spreading of sound waves around openings in barriers is called

A. diffraction.

B. refraction.

C. an echo.

D. reverberation.

9. The number of waves that pass a particular point in a body in a unit of time is called the _______ of the

waves.

A. rarefaction

B. frequency

C. amplitude

D. compression

10. During the process of steel production, the flaws in steel casting are detected by

A. ultrasonic vibrations.

B. resonant vibrations.

C. infrasonic vibrations.

D. longitudinal vibrations.

11. Rarefaction occurs only in a _______ wave.

A. sympathetic.

B. transverse.

C. longitudinal.

D. forced.

12. If two waves with equal amplitudes and wavelengths travel through a medium in such a way that a

particular particle of the medium is at the crest of one wave and at the trough of the other wave at the same

time, what will happen to that particle?

A. The particle will cause beats as a result of the wave combination.

B. The particle will move halfway to the crest due to reinforcement.

C. The particle will vibrate with double amplitude due to resonance.

D. The particle will remain stationary due to interference.

13. Through which one of the following mediums is the velocity of a sound wave the greatest?

A. Air

B. Water

C. Steel

D. Lead

14. The part of the ear where sound wave compressions and rarefactions cause the eardrum to vibrate is

the

A. middle ear.

B. outer ear.

C. inner ear.

D. auditory nerve.

15. A sound that’s produced by a single wave at a constant frequency and with no overtones is called

A. a pure sound.

B. a discordant sound.

C. a mellow sound.

D. an average sound.

16. Which one of the following environments will sound not travel through?

A. Vacuum

B. Liquid

C. Solid

D. Gas

17. The change in pitch of a train’s horn as it passes while you are standing still can be explained by

A. sympathetic vibration.

B. the Doppler effect.

C. resonance.

D. ultrasonic vibrations.

18. Which of the following phenomena is taking place when sound waves are reflected from a surface

along parallel lines?

A. Diffusion

B. Refracting

C. Focusing

D. Absorption

19. When a tuning fork vibrates over an open pipe and the air in the pipe starts to vibrate, the vibrations in

the tube are caused by

A. beats.

B. harmonics.

C. resonance.

D. reinforcement.

20. A wave front has the form of a

A. sine wave.

B. circle.

C. surface of a sphere.

D. straight line.

21. The maximum distance a molecule has been moved from its normal position by a wave is

A. compression.

B. frequency.

C. rarefaction.

D. amplitude.

22. If you were trying to build a soundproof room, which of the following materials would you choose in

order to absorb the most sound?

A. Carpet

B. Concrete

C. Wood

D. Heavy curtains

23. The _______ of a sound wave is defined as the amount of energy passing through a unit area of the

wave front in a unit of time.

A. intensity

B. amplitude

C. frequency

D. compression

24. If a string vibrates at the fundamental frequency of 528 Hz and also produces an overtone with a

frequency of 1,056 Hz, this overtone is the

A. third harmonic.

B. second harmonic.

C. first harmonic.

D. fourth harmonic.

25. When a sound from a source is refracted away from the surface of the earth, it gives an indication that

the

A. air is cooler than the ground.

B. air has high humidity.

C. wind is blowing in the direction of the sound.

D. ground is cooling faster than the air.

Categories
custom term paper writing term paper help term paper writing service

henry ossawa tanner was influenced by ________.

1- When Heinz introduced their new green ketchup this, seemingly simple, color change caused a record low in sales. (Points : 1)

True

False

2. Iconography is: (Points : 1)

The meaning we get from what we see.

The symbolic meaning of signs, subjects and images.

A major element in visual media such as film and video.

Any mark on the picture plane that gives the illusion of the “third dimension”, also called “depth”.

3. Color is a property of light, not an object in itself. (Points : 1)

True

False

4. Raphael’s The School of Athens provides the viewer with the illusion of the three-dimensional world on a two-dimensional surface by the use of: (Points : 1)

linear perspective

symmetrical balance

the golden mean

cross hatching

5. Value in the “art sense” of this chapter refers to the: (Points : 1)

lightness and darkness of surfaces

brightness and dullness of surfaces

foreground and background

quality or “value” according to the individual viewing it

6. The method of creating the illusion of depth on a 2-D surface through the appearance of converging parallel lines and one or more vanishing points is called_______. (Points : 1)

atmospheric perspective

chiaroscuro

linear perspective

picture plane

7. Any one of us can look at any image, from any time period, and fully understand the iconography presented, by simply thinking about the details we see. (Points : 1)

True

False

8. According to your text, _________ is the easiest and most basic technique to visually imply “depth” on a two-dimensional surface. (Points : 1)

implied motion

shading and shadowing I am sure it is NOT this one

linear perspective I think this one is correct

overlapping

9. Some artists try to express theories of “passing time” in their work. It can be argued that both the Aztec Calendar and Aitken’s “Sleepwalkers” are examples of the expression of “passing time”. (Points : 1)

True

False

10. This image, from a pro sports team, is a good example of complimentary colors used in “real life”. It could be argued that these colors are chosen because, when placed next to each other, they give each other intesity that seems to “vibrate” and attract attention. (Points : 1)

True

False

1. Global Warning, the graphic design poster by Chaz Maviyane-Davies, presents an issue of

concern for the artist as well as the global population. This work is an example of art as a

vehicle for:

(a) communicating information

(b) personal expression

(c) social causes

(d) all of the above

2. This artist, who made Rocket to the Moon, paid tribute to the richness of the African-American

experience through art.

(a) Romare Bearden

(b) Barnet Newman

(c) Felix González-Torres

(d) Chaz Maviyane-Davies

3. The symbolic meaning of visual signs and imagery is called: (Points : 1)

content

form

iconography

aesthetics

4. Alexander Calder is the first artist to: (Points : 1)

use the elements of “chiaroscurro” as a major element of art.

use the element of “electric light” as a major part of art.

use the element of “motion” as a major part of art.

None of these are the correct answer for what Alexander Calder added to the world of “art”.

5. In trying to interpret an image iconographically, with special consideration to time and place of creation, you must also pay attention to identification of significant _____________. (Points : 1)

colors

subjects

forms

all of the above

6. In art, “medium” refers to: (Points : 1)

an artisit who can tell you about your future

the material used for artwork

the size of a painting in between small and large

a particular material, along with its accompanying technique

7. James Hampton, the artist who created Throne of the Third Heaven of the Nation’s Millennium General Assembly (figure 33), did not have any professional art training. This type of artist is often recognized as a _______ artist. (Points : 1)

Tukutuku

Constructivist

Naive/Untrained

Nonconforming

8. In Lee Friedlander’s work “Bismark, North Dakota” (2002), we see an example of how: (Points : 1)

figure-ground reversal interlocks light and dark forms.

the image of poles, railings and their shadows, appear as a variety of visual lines.

plant and bird forms create a sense of “mass”.

shapes, light and color combine to create the illusion of depth.

9. The realistic manner in which William Harnett painted A Smoke Backstage is called: (Points : 1)

visual relativism

nonrepresentational

painterly

trompe l’oeil

10. When studying an image for form alone, the text advises you (the viewer) to: (Points : 1)

look at the image upside

hold up your hands and fingers to form a square; then look through that square to focus on various parts of the image

step back from the image to notice the largest shapes

none of the above

1. The specific area our eyes are drawn to

CORRECT: focal point

2. provides diversity – acts to counteract unity

a. CORRECT: Variety

the juxtaposition of strongly dissimilar elements

a. CORRECT: contrast

to draw our attention to an area

CORRECT: Emphasis

Near or exact matching of left and right sides of a 3 dimensional form (or 2 dimens composition)

a. CORRECT: Symmetrical Balance

the appearance or condition of oneness

a. CORRECT: Unity

Left and right sides are not the same

a. CORRECT: Asymmetrical Balance

refers to any kind of movement or structure of dominant and subordinate elements in sequence.

a. CORRECT: rhythm

7 True/False Questions

1. Balance → the size relation of one thing to another CORRECT: This is false.

It should be Balance → the achievement of equilibrium in which acting influences are held in check by opposing forces.

2. proportion → the size relationship of parts to a whole CORRECT: This is true.

3. subordination → the size relationship of parts to a whole CORRECT: This is false.

It should be subordination → create neutral areas of lesser interest that keep us from being distracted fro the areas of emphasis.

4. format → the juxtaposition of strongly dissimilar elements CORRECT: This is false.

It should be format → size and shape of a 2 dimensional picture plane.

5. Pattern → provides diversity – acts to counteract unity CORRECT: This is false.

It should be Pattern → refers to a repetitive ordering of design elements.

6. scale → the achievement of equilibrium in which acting influences are held in check by opposing forces.

CORRECT: This is false.

It should be scale → the size relation of one thing to another.

7. directional forces → The specific area our eyes are drawn to CORRECT: This is false. It should be directional forces → influence the way we look at a work of art – paths for the eye to follow.

1. Going Home illustrates this artist’s skillful use of abstraction, unity and variety.

(a) Jacob Lawrence

(b) Pieter de Hooch

(c) Suzuki Haranobu

(d) Edgar Degas

Answer: (a)

Page Ref: 60

2. Claus Oldenburg’s and Coosje van Bruggen’s art, as seen in Shuttlecocks, affects us immediately by its:

(a) symbolism

(b) scale

(c) iconography

(d) color

Answer: (b)

Page Ref: 72

3. The balance in Jockeys Before the Race, by the artist Edgar Degas, is:

(a) symmetrical

(b) asymmetrical

(c) isometric

(d) repetitive

Answer: (b)

Page Ref: 66

4. Large Reclining Nude is the final result of this artist’s long process of planning and rearranging the design of the composition.

(a) Henri Matisse

(b) Pablo Picasso

(c) Beverly Pepper

(d) Nicolas Poussin

Answer: (a)

Page Ref: 755. Ogata Korin’s Cranes is a good example of the principle of:

(a) insistent rhythm

(b) emphasis and focal point

(c) rhythm and repetition

(d) emphasis and contrast

Answer: (c)

Page Ref: 71

6. The result of the process of arranging, selecting and ordering is called the:

(a) purpose

(b) design

(c) emphasis

(d) direction

Answer: (b)

Page Ref: 59

7. _______ refers to size relationships between parts of a whole.

(a) probability

(b) scale

(c) proportion

(d) chiaroscuro

Answer: (c)

Page Ref: 72

8. The term “format” refers to the size and shape of a _______ picture plane.

(a) three-dimensional

(b) formal

(c) proportioned

(d) two-dimensional

Answer: (d)

Page Ref: 73

9. In _______ balance, the two sides of a composition on either side of an imaginary vertical

dividing line correspond to one another in size, shape, and placement of form.

(a) informal

(b) symmetrical

(c) asymmetrical

(d) radial

Answer: (b)

Page Ref: 63

10. The juxtaposition of strongly dissimilar elements is referred to as _______.

(a) contrast

(b) asymmetry

(c) hierarchy

(d) composition

Answer: (a)

Page Ref: 69

11. The organization of visual elements in a work of art is referred to as _______.

(a) the composition

(b) the proportion

(c) the design

(d) the balance

Answer: (a)

Page Ref: 5912. Which of the following occurs when equal forms, masses, or elements balance one another?

(a) asymmetrical balance

(b) radial symmetry

(c) symmetrical balance

(d) bilateral symmetry

Answer: (c)

Page Ref: 63

13. _______ is the appearance or condition of oneness in a work of art.

(a) Rhythm

(b) Emphasis

(c) Balance

(d) Unity

Answer: (d)

Page Ref: 59

14. Repetition of similar elements in a work of art creates the illusion of:

(a) shape

(b) color

(c) rhythm

(d) line

Answer: (c)

Page Ref: 69

What is wet media?

Media used that are not dry such as oil paint, water paint, acrylic etc.

Learning to draw may be easier to learn because drawing is less ______________ than writing.Your Answer:concreteCorrect Answer:abstract
2.The three purposes of drawing are: to record, to _________, and to make a finished art work.Your Answer:sketchCorrect Answer:study
3.Another term for a preparatory drawing is ____________.Your Answer:cartoon
4.The ____________ used today is similar to that used by prehistoric people to draw with.Your Answer:charcoal
5.A ___________ drawing must be sprayed with a solution of thinned varnish to keep particles of the medium affixed.Your Answer:charcoal
6.Pencil, charcoal, and chalk are examples of ________________.Your Answer:dry media
7.When an artist places parallel lines closely together to create shade in a drawing it is referred to as __________.Your Answer:hatching
8.Drawing is considered to be the ______________ of all other media.Your Answer:precursorCorrect Answer:foundation
9.__________________ is best known for his/her paintings of flowers.Your Answer:O’Keeffe
10.Drawings done with ink thinned with water and executed with a brush are referred to as _________.Your Answer:watercolorsCorrect Answer:washes

1. drawing one set of hatching over another in a different direction so that the lines cross it suggest shadows or darker areas

a. Contour hatching

b. Cartoon

c. CORRECT: Cross-hatching

d. Hatching

a set of parallel curved lines that suggest a volume in space

a. Tooth

b. Cross-hatching

c. Hatching

d. CORRECT: Contour hatching

the process of drawing from observation (looking at something) this provides an accurate detail sketch

a. CORRECT: Direct Observation

b. Fixation

c. Purpose of Drawing

d. Projective Drawing

degree of roughness presented in drawing papers –> gives texture to drawing

a. INCORRECT: Hatching

b. Fixation

c. CORRECT: Tooth

d. Cartoon

A light, liquid varnish sprayed over finished charcoal or pastel drawing to prevent smudging. Used to “fix” charcoal or pastel on paper

a. Cartoon

b. CORRECT: Fixation

c. Tooth

d. Hatching

A sequential art form based in drawing. Important based on its subject matter

a. Projective Drawing

b. CORRECT: Graphic novels/ comics

c. Cross-hatching

d. Contour hatching

A preliminary sketch. A drawing created as a full scale working drawing used as a model for a fresco painting, mural, or tapestry

a. CORRECT: Cartoon

b. Fixation

c. Tooth

d. Hatching

Type of tool: conte, crayon, pastel charcoal

a. Purpose of Drawing

b. CORRECT: Dry Drawing Media

c. Hatching

d. Projective Drawing

A technique used in drawing and linear form of printmaking, lines are placed in parallel series to darken the value of an area

a. Cartoon

b. INCORRECT: Cross-hatching

c. Tooth

d. CORRECT: Hatching

Media that uses black and/or colored inks. Has washes which is ink thinned with water/ thin transparent layer ink paint

a. CORRECT: Wet/ liquid drawing techniques

b. Purpose of Drawing

c. Projective Drawing

d. Dry Drawing Media

1. A notion, sketch, or record of something seen, remembered, or imagined 2. As a preparation for another large, complex work such as a sculpture, building, etc. 3. Complete work of art

a. CORRECT: Purpose of Drawing

b. Projective Drawing

c. INCORRECT: Cross-hatching

d. Direct Observation

the process of drawing from indirect observation and drawing from imagination or memory

a. Contour hatching

b. CORRECT: Projective Drawing

c. Direct Observation

d. INCORRECT: Purpose of Drawing

1.A type of painting utilizing egg yolk as a binder is __________.Correct Answer:tempera
2.A type of painting utilizing plaster as a medium is __________.Correct Answer:fresco
3.In buon fresco the pigments, combined with water, are applied to __________.Your Answer:wet plaster
4.The world’s largest painting was created by __________.Correct Answer:Judy Baca
5.An extremely thick application of oil paint is called __________.Your Answer:impasto
6.Tempera paint is always thinned with ____________.Correct Answer:water
7.Another name for opaque watercolor is ___________.Your Answer:gouache
8.Large paintings done in this technique requires that the artist finish sections completely before they move to a newly prepared area.Your Answer:fresco
9.In ______________ the artist allows for the white of the paper to produce “highlights” through the transparent color.Correct Answer:watercolor
10.________________ is oil paint that is applied “wet into wet” and completed in one sitting.Correct Answer:Direct painting1.A type of painting utilizing egg yolk as a binder is __________.Your Answer:tempera2.A type of painting utilizing plaster as a medium is __________.Your Answer:fresco3.In buon fresco the pigments, combined with water, are applied to __________.Your Answer:wet plaster4.The type of painting using wax as a medium is __________.Your Answer:encaustic5.An extremely thick application of oil paint is called __________.Your Answer:impasto6.Tempera paint is always thinned with ____________.Your Answer:water7.Another name for opaque watercolor is _________.Your Answer:gouache8.Large paintings done in this technique requires that the artist finish sections completely before they move to a newly prepared area.Your Answer:fresco9.In ______________ the artist allows for the white of the paper to produce “highlights” through the transparent color.Your Answer:watercolor10.________________ is oil paint that is applied “wet into wet” and completed in one sitting.Your Answer:Direct painting

1. Pigment Binder/Medium Vehicle

a. Casein

b. Pigment

c. CORRECT: 3 components of paint

d. Impasto

Painting techniques that apples pigments thickly so brush or palette knife marks are visible

a. Gesso

b. Fresco

c. INCORRECT: Casein

d. CORRECT: Impasto

Primary layer of paint that’s applied to surface that about to be painted. This created a uniform surface

a. Oil

b. Size

c. Pigment

d. CORRECT: Primer

Material that mixed with pigment to hold the pigment particles together without dissolving them. This allows pigment to attach to the surface as well

a. Primer

b. Pigment

c. Fresco

d. CORRECT: Binder/medium

Pigments mixed with water and applied to plaster support (wall or ceiling) Pigment dry to become apart of the wall or surface. Plaster must be damp. Work on small areas at a time

a. INCORRECT: Gesso

b. Tempera

c. CORRECT: True Fresco

d. Fresco

Pigments suspended in a binder of hot wax.  Pigment is mixes with wax and resin and burned in. Advantages: creates a texture surface and won’t harm paper

a. CORRECT: Encaustic

b. INCORRECT: Impasto

c. Acrylic

d. Casein

Glazing Impasto Airbrush

a. Pigment

b. Binder/medium

c. CORRECT: Painting techniques

d. Gouache

Binder: water-soluble gum Vehicle: water Advantages: transparent and portable

a. Vehicle

b. CORRECT: Water Color

c. Acrylic

d. Fresco

Physical material that provides a base to sustain a 2D work of art

a. Gesso

b. Primer

c. Tempera

d. CORRECT: Support

type of tempera where milk protein is used as a binder in opaque water based paint

a. CORRECT: Casein

b. INCORRECT: Encaustic

c. Oil

d. Size

Used in oil painting, a thin transparent layer brushed over another layer to show through as substance enriched its color. This can be color, transparant, or opaque

a. Gesso

b. INCORRECT: Size

c. CORRECT: Glaze

d. Gouache

Liquid that aids in spreading of paint and holds the pigment and binder together

a. Gouache

b. CORRECT: Vehicle

c. Oil

d. Size

powered color agents

a. Impasto

b. CORRECT: Pigment

c. Primer

d. Size

a small-scale paint sprayer that allows artist to control fine mist of paint

a. Acrylic

b. Primer

c. Pigment

d. CORRECT: Airbrush

Binder: Clear synthetic resin  Advantages: tough, flexible, waterproof, fast-drying

a. Casein

b. INCORRECT: Oil

c. Encaustic

d. CORRECT: Acrylic

type of tempera that has a mixture of glue and chalk thinned with water and applied as a ground before painting with oil or egg tempera

a. Oil

b. Fresco

c. CORRECT: Gesso

d. INCORRECT: Glaze

An opaque (cloudy), water soluble paint like water color. A watercolor to which opaque white has been added

a. Glaze

b. CORRECT: Gouache

c. Fresco

d. Vehicle

Pigments suspended in water(vehicle) and applied to damp lime plaster surface(binder). Pigments dry and become apart of the plaster wall Advantages: large scale and survives for centuries

a. INCORRECT: Primer

b. Impasto

c. CORRECT: Fresco

d. Gesso

Pigment + oil  Advantages: dries slowly, multiple layer can be added, sections can be reworked

a. CORRECT: Oil

b. INCORRECT: Gesso

c. Primer

d. Size

Water base paint Binder=egg yolk

a. Support

b. Primer

c. CORRECT: Tempera

d. Size

Protects surface from deteriorating of paint Used of wax, glue, clay as fillers for porous material (paper, canvas, wall surface)

a. CORRECT: Size

b. Primer

c. Oil

d. INCORRECT: Glaze

1. (Woodcut, wood engraving and linocut) Artist carves away the negative space

a. Etching

b. CORRECT: Relief

c. Print

d. Tusche

Produced in quantities called limited editions

a. Artists Proofs

b. Print

c. CORRECT: Original Prints

d. Printmaking

A planographic printmaking technique based on dislike of water and oil. No cutting needed. The image is drawing with a grease crayon or painted with tusche on stone or a aluminum plate The surface is chemically treated and dampened so that ink will be accepted where crayon and tusche are used

a. Engraving

b. Linocut

c. Matrix

d. CORRECT: Lithography

Relief Intaglio Lithography Screenprinting

a. Wood engraving

b. CORRECT: Categories of Printmaking

c. INCORRECT: Printmaking

d. Original Prints

In lithography, waxy liquid used used to draw/paint images on lithographic stone or plate

a. Matrix

b. CORRECT: Tusche

c. Relief

d. Woodcut

Type Intaglio: fine lines are scratched directly into metal plate with a steel needle. Scratches raise a ridge(Burr) that takes in the ink. Acid-free method

a. Print

b. INCORRECT: Linocut

c. CORRECT: Drypoint

d. Aquatint

Type of relief process: artist cuts away negative space from block of linoleum leaving raised areas to take ink for printing

a. Woodcut

b. CORRECT: Linocut

c. Drypoint

d. Print

Original prints

a. INCORRECT: Artists Proofs

b. Original Prints

c. CORRECT: Multiple originals

d. Wood engraving

total number of prints made and approved by artist and a limited number of multiple originals of a single design in any medium

a. CORRECT: Edition

b. Etching

c. Relief

d. Registration

Block of metal, wood, stone, other material that an artist works to create a print

a. Print

b. Intaglio

c. Relief

d. CORRECT: Matrix

*A technique where stencils are applied to fabric stretched across frame.Paint or ink is forced with a squeegee through the unblocked portions of the screen onto the paper or surface beneath.  *A sheet of paper, cardboard, or metal with a design cut out. Painting or stamping over the sheet prints the design on a surface

a. INCORRECT: Photo screen

b. Categories of Printmaking

c. CORRECT: Silkscreen, stencil, screenprinting

d. Original Prints

A method of relief printing in wood. It’s made with less denser wood which required engraving tool

a. CORRECT: Wood engraving

b. INCORRECT: Woodcut

c. Engraving

d. Printmaking

Number of impressions that will be made in total. This number will be written in each approved impressions/number of impressions within the edition 6/50

a. Edition

b. INCORRECT: Intaglio

c. Registration

d. CORRECT: Limited Edition

Type Intaglio: a metal plate is first coated with acid-resistance wax, then scratched to expose metal where lines are desired. Lines are more relaxed and irregular.(No Answer)

a. Edition

b. CORRECT: Etching

c. Print

d. Engraving

In color printmaking, the process of aligning to impressions of blocks or plates on the same sheet of paper

a. CORRECT: Registration

b. INCORRECT: Edition

c. Printmaking

d. Engraving

A/P – satisfactory, best quality that artists puts aside for portfolio(No Answer)

a. Edition

b. Registration

c. CORRECT: Artists Proofs

d. Original Prints

http://farm4.staticflickr.com/3121/2716758811_0bb2ac67c5_m.jpg

a. CORRECT: The Wave Color woodblock print

b. Categories of Printmaking

c. Woodcut

d. Original Prints

A multiple original impression made from a plate, stone, wood block, or screen. They are made in editions: each printed numbered and signed by the artist. If approves it, he/she will sign it and if disapproves, he/she will destroy it

a. Drypoint

b. INCORRECT: Relief

c. CORRECT: Print

d. Aquatint

Process for creating multiple copies of an image

a. Intaglio

b. Print

c. CORRECT: Printmaking

d. INCORRECT: Engraving

Type Intaglio: value areas rather than lines are etched on the printing plate. Powdered resin is sprinkled on plate, and immersed in an acid bath. Acid bites around the resin particles, creating a rough surface that holds the ink(No Answer)

a. CORRECT: Aquatint

b. Print

c. Edition

d. Drypoint

Type Intaglio: grooves are cut into metal or wood surface with a sharp cutting tool–burin. Lines are more smooth and parallel.

a. Wood engraving

b. CORRECT: Engraving

c. INCORRECT: Etching

d. Print

A variations of silkscreen in which the stencil is prepared by transferring a photo graph to the stencil

a. Tusche

b. Linocut

c. CORRECT: Photo screen

d. Woodcut

Type of relief made from a plank of soft wood. In order to obtain multiple colos of matrix, artist prepares multiple matrixes( one for each color)(No Answer)

a. CORRECT: Woodcut

b. Print

c. Linocut

d. Tusche

Techniques in which lines and areas that are recessed below the surface of printing plate is inked Engraving Etching Aquatint Drypoint

a. CORRECT: Intaglio

b. Linocut

c. Edition

d. Matrix

1. Edition → Type Intaglio: a metal plate is first coated with acid-resistance wax, then scratched to expose metal where lines are desired. Lines are more relaxed and irregular.

INCORRECT: This is false, but you marked it true.

It should be Edition → total number of prints made and approved by artist and a limited number of multiple originals of a single design in any medium.

2. Photo screen → A variations of silkscreen in which the stencil is prepared by transferring a photo graph to the stencil

CORRECT: This is true.

3. Print → Type Intaglio: fine lines are scratched directly into metal plate with a steel needle. Scratches raise a ridge(Burr) that takes in the ink. Acid-free method

INCORRECT: This is false, but you marked it true.

It should be Print → A multiple original impression made from a plate, stone, wood block, or screen. They are made in editions: each printed numbered and signed by the artist. If approves it, he/she will sign it and if disapproves, he/she will destroy it.

4. Registration → In color printmaking, the process of aligning to impressions of blocks or plates on the same sheet of paper

CORRECT: This is true.

5. Artists Proofs → Produced in quantities called limited editions

INCORRECT: This is false, but you marked it true.

It should be Artists Proofs → A/P – satisfactory, best quality that artists puts aside for portfolio.

6. Tusche → A multiple original impression made from a plate, stone, wood block, or screen. They are made in editions: each printed numbered and signed by the artist. If approves it, he/she will sign it and if disapproves, he/she will destroy it

INCORRECT: This is false, but you marked it true.

It should be Tusche → In lithography, waxy liquid used used to draw/paint images on lithographic stone or plate.

http://farm4.staticflickr.com/3121/2716758811_0bb2ac67c5_m.jpg

7. The Wave Color woodblock print → 

CORRECT: This is true.

8. Relief → (Woodcut, wood engraving and linocut) Artist carves away the negative space

CORRECT: This is true.

9. Wood engraving → A method of relief printing in wood. It’s made with less denser wood which required engraving tool

INCORRECT: This is true, but you marked it false.

10. Limited Edition → Number of impressions that will be made in total. This number will be written in each approved impressions/number of impressions within the edition 6/50

CORRECT: This is true.

11. Matrix → Block of metal, wood, stone, other material that an artist works to create a print

INCORRECT: This is true, but you marked it false.

12. Aquatint → A multiple original impression made from a plate, stone, wood block, or screen. They are made in editions: each printed numbered and signed by the artist. If approves it, he/she will sign it and if disapproves, he/she will destroy it

INCORRECT: This is false, but you marked it true.

It should be Aquatint → Type Intaglio: value areas rather than lines are etched on the printing plate. Powdered resin is sprinkled on plate, and immersed in an acid bath. Acid bites around the resin particles, creating a rough surface that holds the ink.

13. Original Prints → A/P – satisfactory, best quality that artists puts aside for portfolio

INCORRECT: This is false, but you marked it true.

It should be Original Prints → Produced in quantities called limited editions.

14. Lithography → Type of relief process: artist cuts away negative space from block of linoleum leaving raised areas to take ink for printing

INCORRECT: This is false, but you marked it true.

It should be Lithography → A planographic printmaking technique based on dislike of water and oil. No cutting needed. The image is drawing with a grease crayon or painted with tusche on stone or a aluminum plate The surface is chemically treated and dampened so that ink will be accepted where crayon and tusche are used.

15. Etching → Type Intaglio: grooves are cut into metal or wood surface with a sharp cutting tool–burin. Lines are more smooth and parallel.

INCORRECT: This is false, but you marked it true.

It should be Etching → Type Intaglio: a metal plate is first coated with acid-resistance wax, then scratched to expose metal where lines are desired. Lines are more relaxed and irregular..

16. Categories of Printmaking → Process for creating multiple copies of an image

INCORRECT: This is false, but you marked it true.

It should be Categories of Printmaking → Relief Intaglio Lithography Screenprinting.

17. Drypoint → A multiple original impression made from a plate, stone, wood block, or screen. They are made in editions: each printed numbered and signed by the artist. If approves it, he/she will sign it and if disapproves, he/she will destroy it

CORRECT: This is false.

It should be Drypoint → Type Intaglio: fine lines are scratched directly into metal plate with a steel needle. Scratches raise a ridge(Burr) that takes in the ink. Acid-free method.

18. Linocut → Type of relief process: artist cuts away negative space from block of linoleum leaving raised areas to take ink for printing

INCORRECT: This is true, but you marked it false.

19. Multiple originals → Original prints

CORRECT: This is true.

20. Engraving → Type Intaglio: grooves are cut into metal or wood surface with a sharp cutting tool–burin. Lines are more smooth and parallel.

CORRECT: This is true.

21. Intaglio → Block of metal, wood, stone, other material that an artist works to create a print

INCORRECT: This is false, but you marked it true.

It should be Intaglio → Techniques in which lines and areas that are recessed below the surface of printing plate is inked Engraving Etching Aquatint Drypoint.

22. Silkscreen, stencil, screenprinting → *A technique where stencils are applied to fabric stretched across frame.Paint or ink is forced with a squeegee through the unblocked portions of the screen onto the paper or surface beneath.  *A sheet of paper, cardboard, or metal with a design cut out. Painting or stamping over the sheet prints the design on a surface

INCORRECT: This is true, but you marked it false.

23. Printmaking → A multiple original impression made from a plate, stone, wood block, or screen. They are made in editions: each printed numbered and signed by the artist. If approves it, he/she will sign it and if disapproves, he/she will destroy it

CORRECT: This is false.

It should be Printmaking → Process for creating multiple copies of an image.

24. Woodcut → Type of relief made from a plank of soft wood. In order to obtain multiple colos of matrix, artist prepares multiple matrixes( one for each color)

INCORRECT: This is true, but you marked it false.

1- The process of printing came to Europe from ________.Your Answer:JapanCorrect Answer:China
2.Which of the following is a type of relief printing?Your Answer:lithographyCorrect Answer:wood engraving
3.An intaglio printing process in which a metal plate is scraped and burnished to achieve effects of light and shadow is called:Your Answer:aquatint.
4.The fraction that appears in the center of a print below the image is referred to as the _____ number.Your Answer:cancellationCorrect Answer:edition
5.A(n) _______ work of art is on that an artist is physically involved with the production of the work of art.Your Answer:reproductionCorrect Answer:original
6.Which of the following is a type of stencil printing?Your Answer:intaglioCorrect Answer:serigraphy
7.In which of the following media does the artist draw an image with a greasy crayon directly on a flat stone slab?Your Answer:aquatintCorrect Answer:lithography
8.When making a print an artist “pulls” __________ to check on the image quality.Your Answer:proofs
9.The______________ cut is a modern development in relief printing.Your Answer:lithoCorrect Answer:linoleum
10.The rubber-edged tool used in silkscreening is called a _________.Your Answer:brayerCorrect Answer:squeegee
Categories
custom term paper writing term paper help term paper writing service

quality of information that confirms users earlier expectations

Exercise  2-4

Identify the appropriate qualitative characteristic(s) to be used for given the information provided below.

a.         Qualitative characteristic being employed when companies in the same industry are using the same accounting principles

b.         Quality of information that confirms users’ earlier expectations

c.         Imperative for providing comparisons of a company from period to period

d.         Ignores the economic consequences of a standard or rule

e.         Requires a high degree of consensus among individuals on a given measurement

f.          Predictive value is an ingredient of this fundamental quality of information

g.         Four qualitative characteristics that are related to both relevance and faithful representation

h.         An item is not recorded because its effect on income would not change a decision

i.          Neutrality is an ingredient of this fundamental quality of accounting information

j.          Two fundamental qualities that make accounting information useful for decision-making purposes

k.         Issuance of interim reports is an example of what enhancing quality of relevance

Exercise 2-6

Identify the accounting assumption, principle, or constraint that describes each situation. Do not use an answer more than once.

a.         Allocates expenses to revenues in the proper period

b.         Indicates that fair value changes subsequent to purchase are not recorded in the accounts

c.         Ensures that all relevant financial information is reported

d.         Rationale why plant assets are not reported at liquidation value

e.         Indicates that personal and business record keeping should be separately maintained

f.          Separates financial information into time periods for reporting purposes

g.         Assumes that the dollar is the “measuring stick” used to report on financial performance.

Exercise 2-7

Presented below are a number of operational guidelines and practices that have developed over time.

Select the assumption, principle, or constraint that most appropriately justifies these procedures and practices.

a.         Fair value changes are not recognized in the accounting records.

b.         Financial information is presented so that investors will not be misled

c.         Intangible assets are capitalized and amortized over periods benefited

d.         Repair tools are expensed when purchased

e.         Agricultural companies use fair value for purposes of valuing crops

f.          Each enterprise is kept as a unit distinct from its owner or owners

g.         All significant post-balance-sheet events are reported

h.         Revenue is recorded at point of sale

i.          All important aspects of bond indentures are presented in financial statements

j.          Rationale for accrual accounting

k.         The use of consolidated statements is justified

l.          Reporting must be done at defined time intervals

m.        An allowance for doubtful accounts is established

n.         Goodwill is recorded only at time of purchase

o.         A company charges its sales commission costs to expense

Exercise 3-1

Beverly Crusher is a licensed CPA. During the first month of operations of her business (a sole proprietorship), the following events and transactions occurred

Apr  2  Invested $32,000 cash and equipment valued at $14,000 in the business

2          Hired a secretary-receptionist at a salary of $290 per week payable monthly

3          Purchased supplies on account $700. (Debit an asset account.)

7          Paid office rent of $600 for the month

11        Completed a tax assignment and billed client $1,100 for services rendered. (Use Service Revenue account

12        Received $3,200 advance on a management consulting engagement

17        Received cash of $2,300 for services completed for Ferengi Co

21        Paid insurance expense $110.

30        Paid secretary-receptionist $1,160 for the month

30        A count of supplies indicated that $120 of supplies had been used

30        Purchased a new computer for $6,100 with personal funds. (The computer will be used exclusively for business purposes

Journalize the transactions in the general journal. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select “No entry” for the account titles and enter 0 for the amounts.)

Exercise 3-8

Andy Roddick is the new owner of Ace Computer Services. At the end of August 2014, his first month of ownership, Roddick is trying to prepare monthly financial statements. Below is some information related to unrecorded expenses that the business incurred during August.

a.         At August 31, Roddick owed his employees $1,900 in salaries and wages that will be paid on September 1

b.         At the end of the month, he had not yet received the month’s utility bill. Based on past experience, he estimated the bill would be approximately $600

c.             On August 1, Roddick borrowed $30,000 from a local bank on a 15-year mortgage. The annual interest rate is 8%.

d.            A telephone bill in the amount of $117 covering August charges is unpaid at August 31.

Categories
custom term paper writing term paper help term paper writing service

american academy of special education professionals code of ethics

Textbook1. Essential Concepts and School-Based Cases in Special Education Law

Read chapters 6 and 7 in Essential Concepts and School-Based Cases in Special Education Law.

http://gcumedia.com/digital-resources/sage/2007/essential-concepts-and-school-based-cases-in-special-education-law_ebook_1e.php

Electronic Resource1. CEC Special Education Professional Ethical Principles

Review the “CEC Special Education Professional Ethical Principles.”

http://www.cec.sped.org/~/media/Files/Standards/Professional%20Ethics%20and%20Practice%20Standards/Ethics%20Translations/CEC_Ethics_English.pdf2. Christopher’s Story Video

View the video “Christopher’s Story” from the Special Quest Multimedia Training Library.

Discipline Process

Review the following case scenario and answer the questions that follow in a 500-750 word response. Support your answer with in text references to specific sections of the IDEA as applicable:

Charlie is a 5th grader who receives special education services for a learning disability. Charlie is on grade level in math and two years below grade level in reading. He receives services in a resource setting for one hour each day. Charlie has no history of behavior problems.

Charlie was caught stealing software from the computer lab at his school. His teacher referred him to the assistant principal who issued a three-day suspension and required him to return the stolen materials.

Charlie returned to the classroom to gather his belongings and confronted his teacher. He called her names, threatened to come back to school with a knife to “cut her,” and pretended to swing his fists toward her. Charlie’s teacher called the principal, who, in accordance with the student code of conduct at the school, issued an additional 10-day suspension for Charlie, bringing his total days of suspension to 13.

What happens immediately to Charlie?

What services, if any, are provided to Charlie during his removal to an IAES?

Who needs to be contacted?

Assume a manifestation determination review is held for Charlie, and it’s determined that his behavior was not a manifestation of his disability.

What disciplinary actions are permissible?

What, if any, services will be provided to Charlie during the duration of the disciplinary action? What happens if Charlie’s parents appeal the manifestation determination?

Prepare this assignment according to the APA guidelines found in the APA Style Guide, located in the Student Success Center. An abstract is not required.

You are required to submit this assignment to Turnitin.

Source: Bradley, R. (2007, October). Key issues in discipline. Building the legacy: IDEA 2004 training curriculum. Washington, DC: National

Dissemination Center for Children with Disabilities.

Clinical Field Experience B: Christopher’s Story – Video Analysis

Allocate 1 hour to complete this part of the Clinical Field Experience.

Using the “Christopher’s Story” video respond to the following in 250-500 words:

What are your thoughts about inclusion based on the video?

What is the significance of inclusive services in “natural environments” for individuals with disabilities, their families, and providers?

Who were key collaborators in providing services to Christopher?

What are strategies that were utilized to provide coordinated, comprehensive, and family-centered services?

APA format is not required, but solid academic writing is expected. This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion.

Submit this assignment to your instructor in LoudCloud by the end of the topic.

You are not required to submit this assignment to Turnitin.

Submit the completed Clinical Field Experience Verification Form along with this assignment to your instructor in LoudCloud. You will also submit the completed Clinical Verification Form to Taskstream with your Benchmark Assessment in week 6.

Standards assessed in the field experience:

InTASC 1, 3, 9, 10

CEC 1, 2, 6, 7

Discussion Questions Topic 3 DQ 2

After reviewing case No.14 in your text, are you for or against parents proceeding on behalf of their children in an IDEA case without an attorney? Defend your position.

Topic 3 DQ 1

Compare the CEC ethical code with an ethical code from one of the following organizations:

American Academy of Special Education Professionals Code of Ethics

National Education Association Code of Ethics

National Association for the Education of Young Children Code of Ethical Conduct and Statement of Commitment

National Association of School Psychologists Principles for Professional Ethics

Discuss ethical standards that are the same or similar between the two codes as well as those that are different.

Categories
custom thesis term paper writing service thesis help

an impervious response is one that ignores the person to whom you are responding.

Final Exam – Interpersonal Communication

Select the best answer for each of the following multiple choice questions .

1. Acting as though you don’t hear someone and not making any response is which type of disconfirming response?

[A] impersonal

[B] incongruous

[C] impervious

[D] ambiguous

[E] tangential

2. All of the following are types of supportive communication identified by Jack Gibb except

[A] empathy

[B] description

[C] equality

[D] problem orientation

[E] certainty

3. Generally, people respond with ________ when they are confronted with face threatening acts.

[A] an impervious response

[B] empathy

[C] ambiguity

[D] defensiveness

[E] none of these

4. Customer: “The amount of time I’ve been on hold is ridiculous. I’m going to cancel my service.”

Customer Service Representative: “It sounds like you’re angry. Can you tell me about your problem?”

The listener’s response is an example of:

[A] Agreeing with the odds

[B] Agreeing in Principle

[C] Agreeing with the truth

[D] Paraphrasing the speaker’s ideas

[E] None of these

5. Character attacks are common to which style of handling conflict?

[A] direct aggression

[B] nonassertion

[C] assertion

[D] accommodation

[E] indirect aggression

6. Which part of the Johari Window represents information of which both you and the other person are aware?

[A] open

[B] hidden

[C] blind

[D] unknown

[E] none of these

7. When Karen tries to talk about going to visit her family for the holidays, John changes the subject. This is an example of which individual conflict style?

[A] direct aggression

[B] avoidance

[C] drifting away

[D] passive aggressive

[E] none of these

8. Which of the following factors govern the selection and use of conflict style?

[A] your goals

[B] the other person

[C] the situation

[D] all of these

[E] none of these

9. Which of the following is a win-win strategy?

[A] vote and abide by majority decision

[B] avoid arguments that might lead to anger and hurt feelings

[C] know what you are willing to give up if the other person agrees to give up something

[D] determine what both parties need to get out of a negotiation

[E] none of these is a win-win strategy

10. After much discussion, Chad finally agrees to go to the opera with his wife. As they are finding their seats he says, sarcastically, “Yeah, this is going to be a lot of fun.” This is an example of which individual conflict style?

[A] direct aggression

[B] avoidance

[C] accommodation

[D] assertion

[E] passive aggression

11. All of the following are elements of conflict except

[A] inevitability

[B] expressed struggle

[C] perceived incompatible goals

[D] perceived scarce rewards

[E] underdependent

12. It’s been a year since Mark and Tracy broke up. Mark is still depressed and gets irate if anyone even mentions Tracy’s name. Mark is experiencing:

[A] Facilitative emotions

[B] Debilitative emotions

[C] First order emotions

[D] Self talk

[E] None of these

13. Sherell and Monique have a disagreement about how to spend their end-of-the-year bonus. Sherell wants to go on a trip, and Monique wants to spend it on the house. Instead, they decide to buy a fishing boat. This is probably an example of

[A] passive aggression

[B] avoidance

[C] accommodating

[D] compromise

[E] competing

14. It’s hard to talk to Edie because she always seems to take things the wrong way and to try to support herself and her side of the story. Edie is a(n)

[A] stage hogger

[B] ambusher

[C] pseudolistener

[D] insulated listener

[E] defensive listener

15. After hearing about the car accident that Dan was in, Jenny responded with “What did you do then?” This type of questioning response is used to:

[A] Learn about others’ thoughts, feelings and wants

[B] Encourage elaboration

[C] Gather more fact and details

[D] Clarify meanings

[E] Encourage discovery

16. Neither side is satisfied with the outcome in which method of problem-solving?

[A] avoidance

[B] win-win

[C] accommodation

[D] lose-lose

[E] win-lose

17. Reasons for improving listening skills include:

[A] to understand and retain information

[B] to evaluate messages

[C] to build and maintain relationships

[D] to help others

[E] all of these

18. Hinting to others instead of expressing ourselves outright is an example of

[A] assertion

[B] passive aggression

[C] indirect communication

[D] nonassertion

[E] direct aggression

19. Susan’s professors think she is always listening to their lectures because of her eye contact, nods, and note-taking. In reality, Susan is using the class time to catch up on her personal diary. Susan is guilty of:

[A] filling in the gaps

[B] pseudolistening

[C] insulated listening

[D] defensive listening

[E] none of these

20. The old saying, “Opposites attract,” suggests which reason for forming relationships?

[A] appearance

[B] complementary

[C] similarity

[D] reciprocity

[E] exchange

21. Debilitative emotions can be distinguished from facilitative emotions by their

[A] low intensity and brief duration

[B] high intensity and extended duration

[C] variable intensity and duration

[D] high intensity and brief duration

[E] low intensity and extended duration

22. It’s hard to talk to Kit because she never really seems to listen; she is just waiting for you to make a mistake and then she pounces. Kit is a(n)

[A] pseudolistener

[B] stage hogger

[C] ambusher

[D] defensive listener

[E] insulated listener

23. Which is not an example of a counterfeit question?

[A] questions that gather more facts and details

[B] questions that carry hidden agendas

[C] questions that make statements

[D] questions based on unchecked assumptions

24. Which label could be used to describe the communication when one partner in a relationship exclaims, “I can never discuss anything with you”?

[A] paralanguage

[B] responsiveness

[C] other delegation

[D] metacommunication

[E] none of these

25. Restating in your own words what you thought a speaker has told you is known as

[A] empathizing

[B] emphatic communication

[C] stage hogging

[D] pseudolistening

[E] paraphrasing

26. Business contracts or marriage licenses are found in which stage of relational development?

[A] initiating

[B] integrating

[C] bonding

[D] intensifying

[E] experimenting

27. Which of the following is not one of the five components of listening mentioned in your text?

[A] attending

[B] responding

[C] advising

[D] understanding

[E] hearing

28. The recognition that others don’t cause your feelings helps you

[A] speak unambiguously

[B] accept responsibility for your feelings

[C] choose the best time and place for expressing your feelings

[D] recognize your feelings

[E] share multiple emotions

29. In which type of compliance-gaining strategy are hints used most frequently?

[A] indirect appeals

[B] direct requests

[C] exchange and reciprocity

[D] reward and punishment

[E] relational appeal

30. The dialectical tension that pulls against intimacy is the need for

[A] ambition

[B] distance

[C] achievement

[D] logic

[E] satisfaction

31. The fact that we are likely to choose a mate with whom we frequently cross paths often points to which reason for forming relationships?

[A] Complementary

[B] similarity

[C] reciprocity

[D] appearance

[E] proximity

32. Messages that communicate, “I know what’s best for you, and if you do as I say, we’ll get along” are associated with which Gibb component?

[A] spontaneity

[B] control

[C] neutrality

[D] problem-orientation

[E] strategy

33. When you send someone a birthday card because she or he sent you one, you are complying with the norm of

[A] familiarity

[B] equality

[C] regularity

[D] reciprocity

[E] collegiality

34. “I’ve been sick lately and can’t see you” is illustrative of which relational stage?

[A] avoiding

[B] circumscribing

[C] bonding

[D] stagnation

[E] differentiating

35. Barry is more concerned about how much and how long he can talk, rather than listening to others. Barry is guilty of

[A] pseudolistening

[B] selective listening

[C] ambushing

[D] insensitive listening

[E] stage hogging

36. Tactics we use to persuade others to act in a desired way are called _______ strategies.

[A] empathic

[B] comprehension-checking

[C] alienating

[D] compliance-gaining

[E] social science

37. Attacks against our presenting self are called

[A] offensive communication

[B] face-saving acts

[C] defensive communication

[D] focused communication

[E] face-threatening acts

38. “What do I do that’s unfair?” is which way to seek additional information from your critics?

[A] ask what else is wrong

[B] guess about specifics

[C] ask for specifics

[D] paraphrase the speaker’s ideas

[E] ask about the consequences of your behavior

39. Albert Camus said, “Charm is a way of getting the answer yes without asking a clear question.” This quotation refers to

[A] face maintenance

[B] a relational appeal

[C] exchange and reciprocity

[D] an indirect appeal

[E] a balance of power

40. To be considered self-disclosure, a communication act

[A] must contain personal information

[B] must be communicated verbally

[C] must have another person as a listener

[D] all of these

[E] a and c only

41. Which reason for self-disclosure is found in wanting “to get it off your chest”?

[A] self-clarification

[B] reciprocity

[C] catharsis

[D] impression formation

[E] self-validation

42. When partners begin to refer to themselves as “we,” they have moved into which relational stage?

[A] experimenting

[B] bonding

[C] initiating

[D] intensifying

[E] integrating

43. All of the following are types of defense-arousing communication identified by Jack Gibb except

[A] strategy

[B] evaluation

[C] control

[D] spontaneity

[E] neutrality

44. Being reserved, shortening interaction, and restricting topics are all ways of ____________ in a relationship.

[A] maintaining catharsis

[B] maintaining distance

[C] maintaining reciprocity

[D] maintaining intimacy

[E] none of these

45. A newly married husband and wife both want to spend Thanksgiving with their families. They decide to eat with her family at noon and his at 6:00. This is an example of:

[A] win-win

[B] losing

[C] win-lose

[D] lose-lose

[E] none of these

46. “Will you lend me your pen?” is an example of a(n)

[A] act of face maintenance

[B] indirect appeal

[C] relational appeal

[D] reward

[E] direct request

47. Accommodators deal with conflict by

[A] putting the other’s needs ahead of their own

[B] putting their needs ahead of the other’s

[C] ignoring the needs of others

[D] ignoring their own needs

[E] a and d

48. The Social Penetration Model looks at self-disclosure in terms of

[A] breadth

[B] catharsis

[C] depth

[D] a & c only

[E] all of these

49. Disclosing to your parents that you’re expecting an “F” in math before the report card arrives is an example of which reason for self-disclosure?

[A] moral obligation

[B] reciprocity

[C] impression formation

[D] self-validation

[E] self-defense

50. Which of the following is not a type of intimacy?

[A] shared activities

[B] musical

[C] intellectual

D] emotional

[E] physical

Essay Section: Choose 3 of these essay questions to respond to in detail for extra credit! They are not required.

1. Give five different types of responses to your friend who says to you: “That professor wants me to think of him as God or something. He thinks nobody could possibly know anything prior to entering his classroom.” Choose from the following: advising, analyzing, supporting, empathizing, questioning, and evaluating. Be sure to identify the style that each example illustrates.

2. Explain the habits of people who listen ineffectively.

3. Discuss two personal examples of facilitative and debilitative emotions.

4. Identify the stage of a relationship in which you are currently involved using Knapp’s model of stages. Briefly discuss how your communication pattern reflects the present relationship stage.

5. Describe each of Knapp’s five phases of coming together and five phases of coming apart. Illustrate them by tracing a real or imaginary relationship from initial formation to final dissolution, providing examples of communication at each phase.

6. Identify a dialectical tension in one of your significant relationships. Describe the problem that this tension has created (or could create) in the relationship. Describe which strategy or strategies you have used (or could use) to manage this tension.

7. Explain the Social Penetration Model.

8. What are the implications of using the term “communication climate” (rather than communication situation, for instance)?

9. Explain how the words we use to describe conflict can shape our perception of conflict.

10. Explain the seven step approach to win-win problem solving.

11. Explain the five elements of an assertive message.

12. The text discusses four styles of conflict behavior:

a. nonassertion

b. indirect aggression

c. direct aggression

d. assertion

For each style, describe its basic characteristics; present at least one communication behavior for each style; and present an advantage and disadvantage of each.

Categories
custom thesis term paper writing service thesis help

when selecting font size in a document, ____ points equals one-inch-tall text.

with Microsoft®

Office 2010 V O L U M E 1

PEARSON T O W N S E N D FERRETT HAIN VARGAS

with M ic roso f t

Office 2010 V O L U M E

T O W N S E N D I FERRETT I H A I N I VARGAS

Prentice Hall Boston Columbus Indianapolis New York San Francisco Upper Saddle River

Amsterdam Cape Town Dubai London Madrid Milan Munich Paris Montreal Toronto Delhi Mexico City Sao Paulo Sydney Hong Kong Seoul Singapore Taipei Tokyo

Library of Congress Cataloging-in-Publication Data Townsend, Kris. Skills for success with Office 2010 / by Kris Townsend.

p. cm. ISBN 978-0-13-703257-0 (alk. paper) 1. Microsoft Office. 2. Business—Computer programs. I, Title.

HF5548.4.M525T692 201 I 005.5—dc22 2010016531

Editor in Chief: Michael Payne AVP/Executive Acquisitions Editor: Stephanie Wall Product Development Manager: Eileen Bien Calabro Editorial Project Manager: Virginia Gitariglia Development Editor: Nancy Lamm Editorial Assistant: Nicole Sam AVP/Director of Online Programs, Media: Richard Keaveny AVP/Dircctor of Product Development, Media: Lisa Strife Editor—Digital Learning & Assessment: Paul Gentile Product Development Manager, Media: Calhi Projitko Media Project Manager, Editorial: Alana Coles Media Project Manager, Production: John Cassar Director of Marketing: Kate Valentine Senior Marketing Manager: Tori Olscn Alves Marketing Coordinator SI/<<I« Osterlitz

Marketing Assistant: Darshika Vyas Senior Managing Editor: Cynthia /.onneveld Associate Managing Editor: Camille Trentacoste Production Project Manager: Camille Trentacoste Senior Operations Supervisor: Natacha Moore Senior Art Director: Jonathan Boylan Art Director: Anthony Gemmellaro Text and Cover Designer: Anthony Gemmellaro Manager, Rights and Permissions: Ilessa Albader Supplements Development Editor: Vonda Keator Full-Service Project Management: MPS Content Services, a Macmiilan Company Composition: MPS Content Services, a Macmiilan Company Printer/Binder: Quad/Graphics Taunton Cover Printer: Lchigli/Phocnix Typeface: Minion 10.5/12.5

Credits and acknowledgments borrowed from other sources and reproduced, with permission, in this textbook appear on appropriate page within text. Microsoft’ and Windows* are registered trademarks of the Microsoft Corporation in the U.S.A. and other countries. Screen shots and icons reprinted with permission from the Microsoft Corporation. This book is not sponsored or endorsed by or affiliated with the Microsoft Corporation. Copyright © 2011 Pearson Education, Inc., publishing as Prentice Hall. All lights reserved. Manufactured in the United States of America. This publication is protected by Copyright, and permission should be obtained from the publisher prior to any prohibited reproduction, storage in a retrieval system, or transmission in any form or by any means, electronic, mechanical, photocopying, recording, or likewise. To obtain permission(s) to use material from this work, please submit a written request to Pearson Education, Inc., Permissions Department, Upper Saddle River, New Jersey, 07458 Many of the designations by manufacturers and seller to distinguish their products are claimed as trademarks. Where those designations appear in this book, and the publisher was aware of a trademark claim, the designations have been printed in initial caps or all caps.

Prentice Hall is an imprint of

P E A R S O N www.pearsonhighered.com

1 0 9 8 7 6 5 4 3 2

1 S B N – I 0 : 0 – 1 3 – 7 0 3 2 5 7 – 9

I S B N – 1 3 : 9 7 8 – 0 – 1 3 – 7 0 3 2 5 7 – 0http://www.pearsonhighered.com

Contents in Brief

Common Features Chapter 1 Common Features ot Office 2010 2

More Skills 26

Word Chapter 1 Create Documents with Word 2010 30

More Skills 54 Chapter 2 Format and Organize Text 64

More Skills 88 Chapter 3 Work with Graphics, Tabs, and Tables 98

More Skills 122 Chapter 4 Apply Special Text, Paragraph and

Document Formats 132 More Skills 156

Excel Chapter 1 Create Workbooks with Excel 2010 166

More Skills 190

Chapter 2 Create Charts 200 More Skills 224

Chapter 3 Manage Multiple Worksheets 234 More Skills 258

Chapter 4 Use Excel Functions and Tables 268 More Skills 292

Access Chapter 1 Work with Databases and

Create Tables 302 More Skills 326

Chapter 2 M a n a g e Datasheets and Create Queries 336 More Skills 360

Chapter 3 Create Forms 370 More Skills 394

Chapter 4 Create Reports 404 More Skills 428

PowerPoint Chapter 1 Getting Started with PowerPoint 2010 438

More Skills 462 Chapter 2 Format a Presentation 472

More Skills 496 Chapter 3 Enhance Presentations with Graphics 506

More Skills 530 Chapter 4 Present Data Using Tables, Charts,

and Animation 540 More Skills 564

Integrated Projects Chapter 1 Integrating Word, Excel, A c c e s s ,

and PowerPoint 574 More Skills 598

Chapter 2 More Integrated Projects for Word, Excel, A c c e s s , and PowerPoint 610 More Skills 634

Glossary 646

Index 654

Contents in Brief iii

Table of Contents

C o m m o n Fea tu res C h a p t e r 1 C o m m o n F e a t u r e s of Office 2 0 1 0 2

Skill 1 Start Word and Navigate the Word Window 6 Skill 2 Start Excel and PowerPoint and Work with

Multiple Windows 8 Skill 3 Save Files in New Folders 10 Skill 4 Print and Save Documents 12 Skill 5 Open Student Data Files and Save Copies

Using Save As 14 Skill 6 Type and Edit Text 16 Skill 7 Cut, Copy, and Paste Text 18 Skill 8 Format Text and Paragraphs 20 Skill 9 Use the Ribbon 22

Skill 10 Use Shortcut Menus and Dialog Boxes 24

More Skills More Skills 11 Capture Screens with the Snipping

Tool 26 More Skills 12 Use Microsoft Office Help 26 More Skills 13 Organize Files 26 More Skills 14 Save Documents to Windows Live 26

W o r d C h a p t e r 1 C r e a t e D o c u m e n t s with Word 2 0 1 0 3 0

Skill 1 Create New Documents and Enter Text 34 Skill 2 Edit Text and Use Keyboard Shortcuts 36 Skill 3 Select Text 38 Skill 4 Insert Text from Other Documents 40 Skill 5 Change Fonts, Font Sizes, and Font Styles 42 Skill 6 Insert and Work with Graphics 44 Skill 7 Check Spelling and Grammar 46 Skill 8 Use the Thesaurus and Set Proofing Options 48 Skill 9 Create Document Footers 50

Skill 10 Work with the Print Page and Save Documents in Other Formats 52

More Skills More Skills 11 Split and Arrange Windows 54 More Skills 12 Insert Symbols 54 More Skills 13 Use Collect and Paste to Create a

Document 54 More Skills 14 Insert Screen Shots into Documents 54

C h a p t e r 2 Format a n d O r g a n i z e Text 6 4 Skill 1 Set Document Margins 68 Skill 2 Align Text and Set Indents 70 Skill 3 Modify Line and Paragraph Spacing 72 Skill 4 Format Text Using Format Painter 74 Skill 5 Find and Replace Text 76 Skill 6 Create Bulleted and Numbered Lists 78 Skill 7 Insert and Format Headers and Footers 80 Skill 8 Insert and Modify Footnotes 82 Skill 9 Add Citations 84

Skill 10 Create Bibliographies 86

More Skills More Skills 11 Record AutoCorrect Entries 88 More Skills 12 Use AutoFormat to Create

Numbered Lists 88 More Skills 13 Format and Customize Lists 88 More Skills 14 Manage Document Properties 88

C h a p t e r 3 Work with G r a p h i c s , Tabs , a n d T a b l e s 9 8

Skill 1 Insert Pictures from Files 102 Skill 2 Resize and Move Pictures 104 Skill 3 Format Pictures Using Styles and

Artistic Effects 106 Skill 4 Set Tab Stops 108 Skill 5 Enter Text with Tab Stops 110 Skill 6 Apply Table Styles 112 Skill 7 Create Tables 114 Skill 8 Add Rows and Columns to Tables H6 Skill 9 Format Text in Table Cells 118

Skill 10 Format Tables 120

iv Table of Contents

More Skills More Skills 11 Insert Text Boxes 122 More Skills 12 Format with WordArt 122 More Skills 13 Create Tables from Existing Lists 122 More Skills 14 Insert Drop Caps 122

C h a p t e r 4 A p p l y S p e c i a l T e x t , P a r a g r a p h , a n d D o c u m e n t F o r m a t s 1 3 2

Skill 1 Create Multiple-Column Text 136 Skill 2 Insert a Column Break 138 Skill 3 Apply and Format Text Effects 140 Skill 4 Use and Create Quick Styles 142 Skill 5 Add Borders and Shading to Paragraphs

and Pages 144 Skill 6 Insert and Format Clip Art Graphics 146 Skill 7 Insert SmartArt Graphics 148 Skill 8 Format SmartArt Graphics 150 Skill 9 Create Labels Using Mail Merge 152

Skill 10 Preview and Print Mail Merge Documents 154

More Skil ls More Skills 11 More Skills 12 More Skills 13 More Skills 14

Create Resumes from Templates 156 Create Outlines 156 Prepare Documents for Distribution 156 Preview and Save Documents as Web Pages 156

Exce l C h a p t e r 1 C r e a t e W o r k b o o k s w i t h

Exce l 2 0 1 0 Skill 1 Create and Save New Workbooks Skill 2 Enter Worksheet Data and Merge and

Center Titles Skill 3 Construct Addition and

Subtraction Formulas Skill 4 Construct Multiplication and

Division Formulas Skill 5 Adjust Column Widths and Apply Cell Styles Skill 6 Use the SUM Function Skill 7 Copy Formulas and Functions

Using the Fill Handle

1 6 6 170

Skill 8 Format, Edit, and Check the Spelling of Data 184 Skill 9 Create Footers and Change Page Settings 186

Skill 10 Display and Print Formulas and Scale Worksheets for Printing

More Skil ls More Skills 11

More Skills 12 More Skills 13 More Skills 14

Create New Workbooks from Templates Use Range Names in Formulas Change Themes Manage Document Properties

C h a p t e r 2 Skill 1 Skill 2

Skill 3 Skill 4 Skill 5 Skill 6 Skill 7

Skill 8

Skill 9 Skill 10

C r e a t e C h a r t s Open Existing Workbooks and Align Text Construct and Copy Formulas Containing Absolute Cell References Format Numbers Create Column Charts Format Column Charts Create Pie Charts and Chart Sheets Apply 3-D Effects and Rotate Pie Chart Slices Explode and Color Pie Slices, and Insert Text Boxes Update Charts and Insert WordArt Prepare Chart Sheets for Printing

More Ski l ls More Skills 11 More Skills 12 More Skills 13

Insert and Edit Comments Change Chart Types Copy Excel Data to Word Documents

More Skills 14 Fill Series Data into Worksheet Cells

188

190 190 190 190

2 0 0 204

206 208 210 212 214

216

218 220 222

224 224

224

224

172 C h a p t e r 3 M a n a g e M u l t i p l e W o r k s h e e t s 2 3 4

172 Skill 1 Work with Sheet Tabs 238

174 Skill 2 Enter and Format Dates 240 174 Skill 3 Clear Cell Contents and Formats 242

176 Skill 4 Move, Copy, Paste, and Paste Options 244

178 Skill 5 Work with Grouped Worksheets 246

180 Skill 6 Use Multiple Math Operators in a Formula 248 Skill 7 Format Grouped Worksheets 250

182 Skill 8 Insert and Move Worksheets 252

Table of Contents v

Skill 9 Construct Formulas That Refer to Cells in Other Worksheets 254

Skill 10 Create Clustered Bar Charts 256

More Skills More Skills 11 Create Organization Charts 258 More Skills 12 Create Line Charts 258 More Skills 13 Set and Clear Print Areas 258 More Skills 14 Insert Hyperlinks 258

C h a p t e r 4 U s e Exce l F u n c t i o n s a n d T a b l e s 2 6 8 Skill 1 Use the SUM and AVERAGE Functions 272 Skill 2 Use the MIN and MAX Functions 274 Skill 3 Move Ranges with Functions,

Add Borders, and Rotate Text 276 Skill 4 Use the IF Function 278 Skill 5 Apply Conditional Formatting with

Custom Formats, Data Bars, and Sparklines 280 Skill 6 Use Find and Replace and Insert

the NOW Function 282 Skill 7 Freeze and Unfreeze Panes 284 Skill 8 Create and Sort Excel Tables 286 Skill 9 Use the Search Filter in Excel Tables 288

Skill 10 Convert Tables to Ranges, Hide Rows and Columns, and Format Large Worksheets 290

More Skills More Skills 11 Apply Conditional Color Scales

with Top and Bottom Rules 292 More Skills 12 Use the Payment (PMT) Function 292 More Skills 13 Create PivotTable Reports 292 More Skills 14 Use Goal Seek 292

A c c e s s C h a p t e r 1 Work with D a t a b a s e s

a n d C r e a t e T a b l e s 3 0 2 Skill 1 Open and Organize Existing Databases 306 Skill 2 Enter and Edit Table Data 308 Skill 3 Create Forms and Enter Data 310 Skill 4 Filter Data in Queries 312 Skill 5 Create, Preview, and Print Reports 314 Skill 6 Create Databases and Tables 316

vi Table of Contents

Skill 7 Change Data Types and Other Field Properties 318

Skill 8 Create Tables in Design View 320 Skill 9 Relate Tables 322

Skill 10 Enter Data in Related Tables 324

More Skills More Skills 11 Compact and Repair Databases 326 More Skills 12 Import Data from Excel 326 More Skills 13 Work with the Attachment Data

Type 326 More Skills 14 Work with the Hyperlink

and Yes/No Data Types 326

C h a p t e r 2 M a n a g e D a t a s h e e t s a n d C r e a t e Q u e r i e s 3 3 6

Skill 1 Find and Replace Data 340 Skill 2 Filter and Sort Datasheets 342 Skill 3 Use the Simple Query Wizard 344 Skill 4 Format Datasheets 346 Skill 5 Add Date and Time Criteria 348 Skill 6 Create Queries in Design View 350 Skill 7 Add Calculated Fields to Queries 352 Skill 8 Work with Logical Criteria 354 Skill 9 Add Wildcards to Query Criteria 356

Skill 10 Group and Total Queries 358

More Skills More Skills 11 Export Queries to Other Fie Formats 360 More Skills 12 Find Duplicate Records 360 More Skills 13 Find Unmatched Records 360 More Skills 14 Create Crosstab Queries 360

C h a p t e r 3 C r e a t e Forms 3 7 0 Skill 1 Use the Form Wizard 374 Skill 2 Format Forms in Layout View 376 Skill 3 Use Forms to Modify Data 378 Skill 4 Use the Blank Form Tool 380 Skill 5 Customize Form Layouts 382 Skill 6 Add Input Masks 384 Skill 7 Apply Conditional Formatting 386 Skill 8 Create One-to-Many Forms 388 Skill 9 Enter Data Using One-to-Many Forms 390

Skill 10 Create Forms from Queries 392

More Skills More Skills 11 Validate Fields 394 More Skills 12 Add Combo Boxes to Forms 394 More Skills 13 Create Multiple Item Forms 394 More Skills 14 Create Macros 394

C h a p t e r 4 C r e a t e R e p o r t s 4 0 4 Skill 1 Create Reports and Apply Themes 408 Skill 2 Modify Report Layouts 410 Skill 3 Prepare Reports for Printing 412 Skill 4 Use the Blank Report Tool 414 Skill 5 Group and Sort Reports 416 Skill 6 Format and Filter Reports 418 Skill 7 Create Label Reports 420 Skill 8 Use the Report Wizard 422 Skill 9 Modify Layouts in Design View 424

Skill 10 Add Totals and Labels to Reports 426

More Skills More Skills 11 Export Reports to Word 428 More Skills 12 Export Reports to HTML Documents 428 More Skills 13 Create Parameter Queries 428 More Skills 14 Create Reports for Parameter Queries 428

PowerPo in t C h a p t e r 1 G e t t i n g S t a r t e d w i t h

P o w e r P o i n t 2 0 1 0 4 3 8 Skill 1 Open, View, and Save Presentations 442 Skill 2 Edit and Replace Text in Normal View 444 Skill 3 Format Slide Text 446 Skill 4 Check Spelling and Use the Thesaurus 448 Skill 5 Insert Slides and Modify Slide Layouts 450 Skill 6 Insert and Format Pictures 452 Skill 7 Organize Slides Using Slide Sorter View 454 Skill 8 Apply Slide Transitions and View Slide Shows 456 Skill 9 Insert Headers and Footers

and Print Presentation Handouts 458 Skill 10 Add Notes Pages and Print Notes 460

More Skil ls More Skills 11 Type Text in the Outline Tab 462 More Skills 12 Use Keyboard Shortcuts 462

More Skills 13 Move and Delete Slides in Normal View 462

More Skills 14 Design Presentations for Audience and Location 462

C h a p t e r 2 F o r m a t a P r e s e n t a t i o n 4 7 2 Skill 1 Create New Presentations 476 Skill 2 Change Presentation Themes 478 Skill 3 Apply Font and Color Themes 480 Skill 4 Format Slide Backgrounds with Styles 482 Skill 5 Format Slide Backgrounds with Pictures

and Textures 484 Skill 6 Format Text with WordArt 486 Skill 7 Change Character Spacing and Font Color 488 Skill 8 Modify Bulleted and Numbered Lists 490 Skill 9 Move and Copy Text and Objects 492

Skill 10 Use Format Painter and Clear All Formatting Commands 494

More Skil ls More Skills 11 Edit Slide Master 496 More Skills 12 Save and Apply Presentation

Template 496 More Skills 13 Create Slides from Microsoft Word

Outline 496 More Skills 14 Design Presentations with Contrast 496

C h a p t e r 3 E n h a n c e P r e s e n t a t i o n s w i t h G r a p h i c s 5 0 6

Skill 1 Insert Slides from Other Presentations 510 Skill 2 Insert, Size, and Move Clip Art 512 Skill 3 Modify Picture Shapes, Borders, and Effects 514 Skill 4 Insert, Size, and Move Shapes 516 Ski l l5 Add Text to Shapes and Insert Text Boxes 518 Skill 6 Apply Gradient Fills and Group

and Align Graphics 520 Skill 7 Convert Text to SmartArt Graphics

and Add Shapes 522 Skill 8 Modify SmartArt Layouts, Colors, and Styles 524 Skill 9 Insert Video Files 526

Skill 10 Apply Video Styles and Adjust Videos 528

More Skil ls More Skills 11 Compress Pictures 530

Table of Contents vii

More Skills 12 Save Groups as Picture Files 530 More Skills 13 Change Object Order 530 More Skills 14 Design Presentations Using

Appropriate Graphics 530

C h a p t e r 4 P r e s e n t D a t a U s i n g T a b l e s , C h a r t s , a n d A n i m a t i o n 5 4 0

Skill 1 Insert Tables 544 Skill 2 Modify Table Layouts 546 Skill 3 Apply Table Styles 548 Skill 4 Insert Column Charts 550 Skill 5 Edit and Format Charts 552 Skill 6 Insert Pie Charts 554 Skill 7 Apply Animation Entrance

and Emphasis Effects 556 Skill 8 Modify Animation Timing

and Use Animation Painter 558 Skill 9 Remove Animation and Modify Duration 560

Skill 10 Navigate Slide Shows 562

More Ski l ls More Skills 11 Prepare Presentations to be Viewed

Using Office PowerPoint Viewer 564 More Skills 12 Insert Hyperlinks in a Presentation 564 More Skills 13 Create Photo Albums 564 More Skills 14 Design Presentations with

Appropriate Animation 564

I n t e g r a t e d Pro jec ts C h a p t e r 1 I n t e g r a t i n g W o r d , E x c e l , A c c e s s ,

a n d P o w e r P o i n t 5 7 4 Skill 1 Move Text between Word Documents 578 Skill 2 Apply Heading Styles in Word 580 Skill 3 Create a PowerPoint Presentation

from a Word Document 582 Skill 4 Insert and Modify a Shape in PowerPoint 584 Skill 5 Import a Word Table into

an Excel Workbook 586 Skill 6 Insert a Shape from PowerPoint into Word

and Excel 588 Skill 7 Create and Work with an Excel Table 590

viii Table of Contents

Skill 8 Link Data between Office Applications Using O L E

Skill 9 Create Envelopes Using Data from Access Skill 10 Create Name Tags Using Data in Excel

More Ski l ls More Skills 11 Insert Subtotals in Excel and

Link Data to a Word Document More Skills 12 Insert Slides from Another

Presentation More Skills 13 Move and Copy Excel Worksheets

and Consolidate Data More Skills 14 Compare Shared Excel Workbooks

C h a p t e r 2

Skill 1 Skill 2 Skill 3 Skill 4

Skill 5

Skill 6 Skill 7

Skill 8 Skill 9

M o r e I n t e g r a t e d P r o j e c t s f o r W o r d , E x c e l , A c c e s s , a n d P o w e r P o i n t Create an Access Append Query Export Data from Access into Excel Create an Excel PivotTable Report Create External References between Excel Workbooks Insert a SmartArt Organization Chart into PowerPoint Insert an Excel PivotTable into PowerPoint Insert a PowerPoint Outline in Word and Create a Cover Page and Table of Contents Link and Embed Data from Excel into Word Export Data from Access to an R T F File and Insert the File into Word Insert Objects from PowerPoint into Word Skill 10

kills More Skills 11 Create an Excel PivotChart

and Link the PivotChart to Word More Skills 12 Create a Hyperlink between

PowerPoint, Word, and Excel Files More Skills 13 Insert a Total Row in an Excel Table

and Link the Table to PowerPoint More Skills 14 Compare Word Documents

Glossary

592 594 596

598

598

598 598

6 1 0 614 616 618

620

622 624

626 628

630 632

634

634

634 634

646

Index 654

About the Authors Kris Townsend is an Information Systems instructor at Spokane Falls Community College in Spokane, Washington. Kris earned a bachelor’s degree in both Education and Business, and a master’s degree in Education. He has also worked as a public school teacher and as a systems analyst. Kris enjoys working with wood, snowboarding, and camping. He commutes to work by bike and enjoys long road rides in the Palouse country south of Spokane.

1

Robert L. Ferrett recently retired as the Director of the Center for Instructional Computing at Eastern Michigan University, where he provided computer training and support to faculty. He has authored or co-authored more than 70 books on Access, PowerPoint, Excel, Publisher, WordPerfect, Windows, and Word. He has been designing, developing, and delivering computer workshops for more than two decades.

Catherine Hain is an instructor at Central New Mexico Community College in Albuquerque, New Mexico. She teaches computer applications classes in the Business and Information Technology School, both in the classroom and through the distance learning office. Catherine holds a bachelor’s degree in Management and Marketing and a master’s degree in Business Administration.

f t Alicia Vargas is an Associate Professor of Business Information Technology at Pasadena City College in California. She holds a bachelor’s and a master’s degree in Business Education from California State University, Los Angeles and has authored numerous textbooks and training materials on Microsoft Word, Microsoft Excel, and Microsoft PowerPoint.

A Special Thank You Pearson Prentice Hall gratefully acknowledges the contribution made by Shelley Gaskin to the first edition publication of this series—Skills for Success with Office 2007. The series has truly benefited from her dedication toward developing a textbook that aims to help students and instructors.We thank her for her continued support of this series.

About the Authors ix

Contributors We’d like to thank the following people for their work on Skills for Success:

Instructor Resource Authors Erich Adickes Parkland College Sharon Behrens Northeast Wisconsin Technical College Julie Boyles Portland Community College Barbara Edington St. Francis College Ranida Harris Indiana University Southeast Beth Hendrick Lake Sumter Community College Susan Holland Southeast Community College—Nebraska Andrea Leinbach Harrisburg Area Community College Yvonne Leonard Coastal Carolina Community College

Technical Editors Lisa Bucki Kelly Carling Hilda W i r t h Federico Jacksonville University Tom Lightner Missouri State University Elizabeth Lockley Joyce Nielsen

Reviewers Darrell Abbey Cascadia Community College Bridget I . Archer Oakton Community College Laura Aagard Sierra College John Alcorcha MTI College Barry Andrews Miami Dade College Natalie Andrews Miami Dade College Wilma Andrews Virginia Commonwealth University School

of Business Bridget Archer Oakton Community College Tahir Aziz J. Sargeant Reynolds Greg Balinger Miami Dade College Terry Bass University of Massachusetts, Lowell Lisa Beach Santa Rosa Junior College Rocky Belcher Sinclair Community College Nannette Biby Miami Dade College David Billings Guilford Technical Community College Brenda K. Br i t t Fayetteville Technical Community College Alisa Brown Pulaski Technical College Eric Cameron Passaic Community College

x Contributors

Trina Maurer Anthony Nowakowski Ernest Gines Stacey Gee Hollins John Purcell Ann Rowlette Amanda Shelton Steve St. John Joyce Thompson Karen Wisniewski

Georgia Virtual Technical College Buffalo State College Tarrant County College—Southeast St. Louis Community College—Meramec Castleton State College Liberty University J. Sargeant Reynolds Tulsa Community College Lehigh Carbon Community College County College of Morris

Janet Pickard Linda Pogue Steve Rubin Eric Sabbah Jan Snyder Mara Zebest

Chattanooga State Tech Community College Northwest Arkansas Community College California State University—Monterey Bay

Gene Carbonaro Trey Cherry Kim Childs Pualine Chohonis Lennie Coper Tara Cipriano Paulette Comet

Gail W . Cope Susana Contreras de Finch Chris Corbin Janis Cox Tomi Crawford Martin Cronlund Jennifer Day Ralph DeArazoza Carol Decker Loorna DeDuluc Caroline Delcourt

Long Beach City College Edgecombe Community College Bethany University Miami Dade College Miami Dade College Gateway Technical College Community College of Baltimore

Coun ty—Ca to nsville Sinclair Community College College of Southern Nevada Miami Dade College Tri-County Technical College Miami Dade College Anne Arundel Community College Sinclair Community College Miami Dade College Montgomery College Miami Dade College Black Hawk College

Contributors continued

Michael Discello Kevin Duggan Barbara Edington Donna Ehrhart Hilda Wirth Federico Tushnelda Fernandez Arlene Flerchinger Hedy Fossenkemper Kent Foster Penny Foster-Shiver Arlene Franklin George Gabb Barbara Garrell Deb Geoghan Jessica Gilmore Victor Giol Melinda Glander Linda Glassburn Deb Gross Rachelle Hall Marie Hartlein Diane Hartman Betsy Headrick Patrick Healy

Lindsay Henning Kermelle Hensley Diana Hill Rachel Hinton Mary Carole Hollingsworth Stacey Gee Hollins Bill Holmes Steve Holtz Margaret M. Hvatum Joan Ivey Dr. Dianna D. Johnson Kay Johnston Warren T. Jones, Sr. Sally Kaskocsak Renuka Kumar Kathy McKee Hazel Kates Gerald Kearns

Pittsburgh Technical Institute Midlands Technical Community College St. Francis College Genesee Community College Jacksonville University Miami Dade College Chattanooga State Tech Community College Paradise Valley Community College Withrop University Anne Arundel Community College Bucks County Community College Miami Dade College Delaware County Community College Bucks County Community College Highline Community College Miami Dade College Northmetro Technical College Cuyahoga Community College, West Ohio State University Glendale Community College Montgomery County Community College Utah Valley State College Chattanooga State Northern Virginia Community

College—Woodbridge Yavapai College Columbus Technical College Chesapeake College Broome Community College GA Perimeter St. Louis Community College—Meramec Chandler-Gilbert Community College University of Minnesota Duluth St. Louis Community College Lanier Technical College North Metro Technical College Columbia Basin College University of Alabama at Birmingham Sinclair Community College Community College of Baltimore County North Metro Technical College Miami Dade College Forsyth Technical Community College

Charles Kellermann

John Kidd Chris Kinnard Kelli Kleindorfer Kurt Kominek Dianne Kotokoff Cynthia Krebs Jean Lacoste Gene Laugh rey David LeBron Kaiyang Liang Linda Lindaman Felix Lopez Nicki Maines Cindy Manning Patri Mays Norma McKenzie Lee McKinley Sandy McCormack Eric Meyer Kathryn Miller

Gloria A. Morgan Kathy Morris Linda Moulton Ryan Murphy Stephanie Murre Wolf Jackie Myers Dell Najera

Scott Nason Paula Neal Bethanne Newman Eloise Newsome

Karen Nunan Ellen Orr Carol Ottaway Denise Passero Americus Pavese James Gordon Patterson Cindra Phillips

Northern Virginia Community College—Woodbridge

Tarrant County Community College Miami Dade College American Institute of Business NE State Tech Community College Lanier Technical College Utah Valley University Virginia Tech Northern Oklahoma College Miami Dade College Miami Dade College Black Hawk College Miami Dade College Mesa Community College Big Sandy Community and Technical College Paradise Valley Community College El Paso Community College GA Perimeter Monroe Community College Miami Dade College Big Sandy Community and Technical College,

Pike Ville Campus Monroe Community College University of Alabama, Tuscaloosa Montgomery County Community College Sinclair Community College Moraine Park Technical College Sinclair Community College El Paso Community College, Valle Verde

Campus Rowan Cabarrus Community College Sinclair Community College Paradise Valley Community College Northern Virginia Community

College—Woodbridge Northeast State Technical Community College Seminole Community College Chemeketa Community College Fulton-Montgomery Community College Community College of Baltimore County Paradise Valley Community College Clark State CC

Contributors

Contributors continued

Janet Pickard Chattanooga State Tech Community College Diane Stark Phoenix College Floyd Pittman Miami Dade College Neil Stenlund Northern Virginia Community College Melissa Prinzing Sierra College Linda Stoudemayer Lamar Institute of Technology Pat Rahmlow Montgomery County Community College Pamela Stovall Forsyth Technical Community College Mary Rasley Lehigh Carbon Community College Linda Switzer Highline Community College Scott Rosen Santa Rosa Junior College Margaret Taylor College of Southern Nevada Ann Rowlette Liberty University Martha Taylor Sinclair Community College Kamaljeet Sanghera George Mason University Michael M. Taylor Seattle Central Community College June Scott County College of Morris Roseann Thomas Fayetteville Tech Community College Janet Sebesy Cuyahoga Community College Ingrid Thompson-Sellers GA Perimeter Jennifer Sedelmeyer Broome Community College Daniel Thomson Keiser University Kelly SellAnne Arundel Community College Astrid Hoy Todd Guilford Technical Community College Teresa Sept College of Southern Idaho Barb Tollinger Sinclair Community College Pat Serrano Scottsdale Community College Cathy Urbanski Chandler Gilbert Community College Amanda Shelton J. Sargeant Reynolds Sue Van Boven Paradise Valley Community College Gary Sibbits St. Louis Community College—Meramec Philip Vavalides Guildford Technical Community College Janet Siert Ellsworth Community College Pete Vetere Montgomery County Community College— Robert Sindt Johnson County Community College West Campus Karen Smith Technical College of the Lowcountry Asteria Villegas Monroe College Robert Smolenski Delaware County Community College Michael Walton Miami Dade College Robert Sindt Johnson County Community College Teri Weston Harford Community College Gary R. Smith Paradise Valley Community College Julie Wheeler Sinclair Community College Patricia Snyder Midlands Technical College Debbie Wood Western Piedmont Community College Pamela Sorensen Santa Rosa Junior College Thomas Yip Passaic Community College Eric Stadnik Santa Rosa Junior College Lindy Young Sierra Community College Mark Stanchfield Rochester Community and Technical College Matt Zullo Wake Technical Community College

xii Contributors

I n s t r u c t o r s – Y o u a s k e d for it s o h e r e it is!

A M i c r o s o f t ® O f f i c e t e x t b o o k t h a t r e c o g n i z e s h o w s t u d e n t s l e a r n t o d a y –

Skills for Success with Microsoft

1 Office 2010 Volume 1

10 X 8.5 F o r m a t – Easy for students to read and type at the same time by simply propping the book up on the desk in front of their monitor

Clear ly Out l ined Sk i l l s – Each skill is presented in a single two-page spread so that students can easily follow along

Numbered S t e p s and Bul le ted Tex t – Students don’t read long paragraphs or text, but they will read information presented concisely

Easy-to-Find S t u d e n t Da ta Fi les – Visual key shows students how to locate and interact with their data files

S t a r t H e r e – Students know exactly where to start and what their starting file will look like

C H A P T E R

G e t t i n g S t a r t e d w i t h W i n d o w s 7 » YOU BK WINDOW 7 ro «CRK M I »F-JF IOM?«L« LOF RUINR-V.*™ PFLNJMN MO»»T*N>WN

MDAU mi mm • J- : >O-L

» IR WIND H I • >\XI OIJJAIZ* TOUR *»RK BV CNUR-J FILCI ir\i PUNNJ THOW tU« WIS FOLDCRI IHJIYAU

Your ilartlng » c r e « n will look Ilk* this: S K I L L !

chapter, you will be

S k i l l s L is t – A visual snapshot of what skills they will complete in the chapter

O u t c o m e – Shows students up front what their completed project will look like

You will tdvo your filoi a t :

T J H N M I M H7_S«II| ‘ ‘

S e q u e n t i a l P a g i n a t i o n – Saves you and your students time in locating topics and assignments I

VISUAL WALK-THROUGH XIII

Skills for Success l ock – Tells how much time students

need to complete the chapter

Introduct ion

• KM US TUNTNW *IR*I fie, 01 FGWRN INTO 4 «IR J .: -I—. IT…. I AIULT :;I N..I..: .:

• MIMIJ-»TT*IIHDR»«U««IJI;UIF.:M*NJFOU« |*:R-P<TKF* T > ffirt IN NUJX ITXFFL R»»I« IN RI«J

t Written for T o d a y ‘ s S t u d e n t s – skills are taught with numbered steps and bulleted text so students are less likely to skip valuable information T w o – P a g e S p r e a d s – Each skill is

presented on a two-page spread to help students keep up their momentum

* TITTR.TI bim irii mug], TU L>«

_ J

D a t a Files Are a S n a p – Students can now find their files easier than ever before with this visual map

C o l o r e d Text – Clearly shows what a student types

Hands-On – Students start actually working on their skills from Step 1

D o n e ! – Students always know when they’ve completed a skill

XIV VISUAL WALK-THROUGH

Skills for S u c c e s s

UorsSkJh © U M l d t o m i o C k g c n n f M

End-o f -Chapte r M a t e r i a l – Several levels of assessment so you can assign the material that best fits your students’ needs

M o r e S k i l l s – Additional skills included online

K e y T e r m s O n l i n e H e l p Sk i l ls

Midi .. – .! -.. I – :T.

O n l i n e P r o j e c t – Students practice using Microsoft Help online to help prepare them for using the applications on their own

H > u » i « i i HI

•.m • m •

Visual Walk-Through xv

Skills for S u c c e s s

Al l V i d e o s

a n d I n s t r u c t o r m a t e r i a l s

a v a i l a b l e o n t h e I R C D

Instructor Mater ia ls

I n s t r u c t o r ‘ s M a n u a l – Teaching tips and additional resources for each chapter

A s s i g n m e n t S h e e t s – Lists all the assignments for the chapter, you just add in the course information, due dates and points. Providing these to students ensures they will know what is due and when

S c r i p t e d L e c t u r e s – Classroom lectures prepared for you

A n n o t a t e d S o l u t i o n F i l e s – Coupled with the scoring rubrics, these create a grading and scoring system that makes grading so much easier for you

P o w e r P o i n t L e c t u r e s – PowerPoint presentations for each chapter

P r e p a r e d E x a m s – Exams for each chapter and for each application

S c o r i n g R u b r i c s – Can be used either by students to check their work or by you as a quick check-off for the items that need to be corrected

S y l l a b u s T e m p l a t e s – for 8-week, 12-week, and 16-week courses

T e s t B a n k – Includes a variety of test questions for each chapter

C o m p a n i o n W e b S i t e – Online content such as the More Skills Projects, Online Study Guide, Glossary, and Student Data Files are all at www.pearsonhighered.com/skills

xvi Visual Walk-Throughhttp://www.pearsonhighered.com/skills

with M ic roso f t

Office 2010 V O L U M E 1

C H A P T E R J Common Features of Office 2010 • The programs in Microsoft Office 2010—Word, Excel, PowerPoint, and Access—share common

tools that you use in a consistent, easy-to-learn manner.

• Common tasks include opening and saving files, entering and formatting text, and printing your work.

Your starting screen will look like this: SKILLS SKILLS 1 – 1 0 TRAINING Umt Insert Pjgt 1

C M M mailt – 1 1 – * 41 IT

«3f»or>

AaBtccJK AaBbCcIK A A B B G .-YABBCC

‘ Items’ “Mo:ca; . rtfacmgl H*jding2 ChtDQt

Past 1 ol I Wmdi 0

A t t h e e n d o f t h i s chapter , y o u w i l l be a b l e t o :

Skill 1 Start Word and Navigate the Word Window Skill 2 Start Excel and PowerPoint and Work with

Multiple Windows Skill 3 Save Files in New Folders Skill 4 Print and Save Documents Skill 5 Open Student Data Files and Save Copies

Using Save As Skill 6 Type and Edit Text Skill 7 Cut, Copy, and Paste Text Skill 8 Format Text and Paragraphs Skill 9 Use the Ribbon Skill 10 Use Shortcut Menus and Dialog Boxes

MORE SKILLS

More Skills 11 Capture Screens with the Snipping Tool More Skills 12 Use Microsoft Office Help More Skills 13 Organize Files More Skills 14 Save Documents to Windows Live

2 C O M M O N FEATURES OF OFFICE 2 0 1 0 | C O M M O N FEATURES C H A P T E R 1

Outcome Using the skills listed to the left will enable you to create documents similar to this:

Visit Aspen Falls! A s p e n F a l l s o v e r l o o k s t h e P a c i f i c O c e a n

a n d is s u r r o u n d e d b y m a n y v i n e y a r d s a n d

w i n e r i e s . O c e a n r e c r e a t i o n is a c c e s s e d

p r i m a r i l y a t D u r a n g o C o u n t y P a r k . T h e

A s p e n L a k e R e c r e a t i o n A r e a p r o v i d e s y e a r

r o u n d f r e s h w a t e r r e c r e a t i o n a n d is t h e

c i t y ‘ s l a r g e s t p a r k .

Local Attractions • W i n e C o u n t r y

o W i n e Tas t ing Tou rs

o Winer ies

• W o r d s w o r t h Fel lowship Museum of A r t

• Du rango C o u n t y M u s e u m of H is to ry

• Conven t ion Center

• A r t Galleries

• Gl ider T o u r s

Aspen Fallc Annual Events • Annua l Starving Artists Sidewalk Sale

• A n n u a l W i n e Festival

• C inco de Mayo

• Vintage Car S h o w

• Her i tage D a y Parade

• Harvest Days

• A m a t e u r Bike Races

• Farmer ‘s Market

• Aspen Lake Nature Cruises

• Aspen Falls T r ia th lon

• Tas te of Aspen Falls

• W i n t e r Blues Festival

Contact Y o u r N a m e for more informat ion.

Common Features of Office 2010

You will save your files as: Lastname_Firstname_cfO 1 _Visit 1 Lastname_Firstname_cfO l_Visit2 Lastname_Firstname_cf01_Visit3

Common Features Chapter 1 | Common Features of Office 2010 3

In t h i s c h a p t e r , y o u w i l l c r e a t e d o c u m e n t s f o r t h e A s p e n F a l l s C i t y

H a l l , w h i c h p r o v i d e s e s s e n t i a l s e r v i c e s f o r t h e c i t i z e n s a n d v i s i t o r s o f

A s p e n F a l l s , C a l i f o r n i a .

C o m m o n Features of Of f ice 2 0 1 0 • Microsoft Office is the most common software used to create and share

personal and business documents.

• Microsoft Office is a suite o f several programs—Word, PowerPoint, Excel, Access, and others—that each have a special purpose.

• Because of the consistent design and layout o f Microsoft Office, when you learn to use one Microsoft Office program, you can use most o f those skil ls when working wi th the other Microsoft Office programs.

• T h e files you create w i t h Microsoft Office need to be named and saved in locations where they can be easily found when you need them.

C o m m o n F e a t u r e s o f O f f i c e 2 0 1 0 | C o m m o n F e a t u r e s C h a p t e r 1

Time to complete all 10 skills – 50 to 90 minutes

Find your student data files here:

Student data files needed for this chapter:

« cf01_Visit

• cf01_Visit_Events

cfOl Visit River

C O M M O N FEATURES C H A P T E R 1 | C O M M O N FEATURES OF OFFICE 2 0 1 0 5

• The Word 2010 program can be launched by clicking the Start button, and then locating and clicking the Microsoft Word 2010 command.

• When you start Word, a new blank document displays in which you can type text.

1. In the lower left corner of the desktop, click the Start button © .

2 . In the lower left corner of the Start menu, click the All Programs command, and then compare your screen with Figure 1 . –

The Microsoft Office folder is located in the All Programs folder. If you have several programs installed on your computer, you may need to scroll to see the Microsoft Office folder.

3 . Click the Microsoft Office folder, and then compare your screen with Figure 2. –

Below the Microsoft Office folder, commands that open various Office 2010 programs display.

4 . From the Start menu, under the Microsoft Office folder, click Microsoft Word 2010, and then wait a few moments for the Microsoft Word window to display.

5 . If necessary, in the upper right corner of the Microsoft Word window, click the Maximize button B| .

• C o n t i n u e t o t h e n e x t p a g e t o c o m p l e t e t h e s

6 Common Features of Office 2010 | Common Features Chapter 1

OotxMvtntx

Ptttuin All Programs folder list

(your list will be different)

Microsoft Office folder

Start button Figure 1

Adobe Acrobat 70 Professional Q Adcbe Designer 7.0 C Dtftuft Program; 9. DesHoe Gadget Gallery tr Internet Eiplorer Cj Window; Anytime Upgrade | | Window! DVD 1 M B . i Window, Fu ind Son

Window, Media Center Q Window! Media Pla/cr ‘ : Window! Update — XPSVI | Accn

Gamei

MOMSR Cflic SharePoi Startup

Microsoft Office folder

Office 2 0 1 0 programs (your

list may be different)

«•# Window! f a> and Sun • » Window, Media Center B Window! Media Player

Window! Update •4 XPS Viewer

l l l l l l l l l l Game!

Maintenance

Microsoft Office Aj Microsoft Access 2 0 1 0

• M.crcscfl tjcel 2 0 1 0 J3 • ‘ . – WoPath Dowgne. 2 0 1 0 X i r.l;rcsofl Inf cPaal FtCti M 0

N Microsoft OneNcle 2 0 1 0 0 MKicMfl Outlook 2 0 1 0

i_ Mjcroioft PowerPoint 2 3 1 0 _tj Microsoft Publnher 2 0 1 0 1 Microsoft SharePomt Workspace 21 4 lAcrcsoft Wort 2 0 1 0

Mcrosft Olf.ce 2 0 1 0 Tool!

M lhttp://Olf.ce

SKILL 1: Start Word and Navigate the Word Window

^ — — — i i !ni(rt fsgcUrrcut RefcuoM! M*!ingl P*.,f.> \

– CWtmlBon,. • u • A” A ‘ A.- ;=•!=•••> 51 “I V • A • c

AaBbCcOc AaBbCcCX AaBbCi A a B b C c r tioimil ‘ I no Sp»cl… Htadlng I Hf a&ng ? Cnarige

Ribbon tab E –

6 .

St)M» • -< * « ‘ « « •

J –

names h Home tab

– *

fewer! F>g*l»>©ul Rfffmnol ru . i – 3 : vuw f

C . r . » m ( H , . » , – » – A” A – A.- * • E – 1= ‘ * * )l U A a B b C c O < A»BbCcD( AaBbC. A . l B I . C l . ^A. t mi a • * • x. x ‘

•normal I Mo Saxi-. Mraamg 1 ; Hsasing: – Chlnga

* J f ir.3 –

Rsplacf

SlyH.”- < S « » a ‘

.7 f jar. j

Youi-Namejfi •

Group names Paragraph mark and insertion point

Quick Access Toolbar

New blank Word document

Figure 3 Heading 1 thumbnail

Styles group Show/Hide button selected Insertion point and paragraph mark

Heading 1 formatting applied Home tab is active

7 .

8 .

9 .

On the Ribbon’s Home tab, in the Paragraph group, click the Show/Hide button H until it displays in gold indicating that it is active. Compare your screen with Figure 3 .

Above the blank Word document, the Quick Access Toolbar and Ribbon display. At the top of the Ribbon, a row of tab names display. Each Ribbon tab has buttons that you click to perform actions. The buttons are organized into groups that display their names along the bottom of the Ribbon.

In the document, the insertion point— a vertical line that indicates where text will be inserted when you start typing—flashes near the top left corner.

The Show/Hide button is a toggle button— a button used to turn a feature both on and off. The paragraph mark (f) indicates the end of a paragraph and will not print.

In the document, type your first and last names. As you type, notice that the insertion point and paragraph mark move to the right.

On the Home tab, in the Styles group, point to—but do not click—the Heading 1 thumbnail to show the Live Preview—a feature that displays the result of a formatting change if you select it.

Click the Heading 1 thumbnail to apply the formatting change as shown in Figure 4. If the Word Navigation Pane displays on the left side of the Word window, click its Close [*] button.

You have completed Skill 1 of 10

Figure 4 6 J 6 P M

C Z 3 / 2 3 1 2

Common Features Chapter 1 | Common Features of Office 2010 7

• When you open more than one Office program, each program displays in its own window.

• When you want to work with a program in a different window, you need to make it the active window.

1 . Click the Start button © , and then compare your screen with F i g u r e 1.

Your computer may be configured in such a way that you can open Office programs without opening the All Programs folder. The Office 2010 program commands may display as shortcuts in the Start menu’s pinned programs area or the recently used programs area. Your computer’s taskbar or desktop may also display icons that start each program.

2 . From the Start menu, locate and then click Microsoft Excel 2010. Depending on your computer, you may need to double-click—not single click—to launch Excel. Compare your screen with F i g u r e 2 . If necessary, click the Maximize – button mm\<

A new blank worksheet displays in a new window. The first cell—the box formed by the intersection of a row and column—is active as indicated by the thick, black border surrounding the cell. When you type in Excel, the text is entered into the active cell.

The Quick Access Toolbar displays above the spreadsheet. The Excel Ribbon has its own tabs and groups that you use to work with an Excel spreadsheet. Many of these tabs, groups, and buttons are similar to those found in Word.

On the taskbar, two buttons display—one for Word and one for Excel.

• C o n t i n u e t o t h e n e x t p a g e t o c o m p l e t e t h e s k i l l

8 C o m m o n F e a t u r e s o f O f f i c e 2 0 1 0 | C o m m o n F e a t u r e s C h a p t e r 1

Iciert * » c r l » – M l fttffrtrKci

» * * » * • l « • A* A” A J –

• i • • x . tt

C o m m a n d s

p i n n e d t o — |

S t a r t m e n u

^ SnwpngTccI

R e c e n t l y o p e n e d A _ ; 1 r A _ Wcrosefl Accra 3)10

O f f i c e p r o g r a m

P r o g r a m s p i n n e d

t o t a s k b a r

jVw^ MKracftWecdJOlO

S S l.lacxH fact) 3)10

Ptf LtuvxltfotitontaiO

• All Prejrjrm

F i g u r e 1

} l i AjBbCcOc A iSbCdx A a B b G A a B b C r \ fa ^B^L,

I i W ‘ i

‘ Book! – Mkrasc^fccceT

A c t i v e c e l l

N e w , b l a n k E x c e l

s p r e a d s h e e t

E x c e l b u t t o n

W o r d b u t t o n

F i g u r e 2

ciatxi • 11 • A » – J • j a i a• B « > • A • • • i * 5 6 t n – • IS atf :=4 % ^ t . a ‘ & ft | 3 – 2 ( j -il – < – V . | -A H Ccnitocn*! FomjC CfH Sort & pmd i

– 1 FonuSmg ” Ji Tietf • St,’c. • i J f o n W • ^ – f « » – S « « ! – jri^nwcftt V Huntm \ Se>*ci Cfta T”R>op4j

H N

SKILL 2: Start Excel and PowerPoint and Work with Multiple Windows

Pm*nt«iC*J – •Acrowft PovrtfPein*

lnwrt C*i>gn Tr •niftier.; inxubero SM«SftM> P*Mn Vtew

F-‘If , « t – – . . . B y t A . « A . A f i l l M Sn1p.Hnw.9e d t u M i * . / Shoe* jSecnsn’ – » » • ; If leiefl –

O n ™ n C

J U i e u t •

tanmo

SJita Ouliv

Click to add title

C l i c k t o a d d s u b t i t l e

P r e s e n t a t i o n

s l i d e

P o w e r P o i n t

b u t t o n

F i g u r e 3

M a x i m i z e b u t t o n

r e p l a c e d t h e R e s t o r e

D o w n b u t t o n

T e x t i n s e r t e d i n t o

E x c e l c e l l s

C u r r e n t d a t e

c a l c u l a t e d a n d

d i s p l a y e d

W i n d o w r e s t o r e d

d o w n ( y o u r s i z e

a n d l o c a t i o n m a y

b e d i f f e r e n t )

3 . From the Start menu <PJ, locate and then click Microsoft PowerPoint 2010.

— Compare your screen with F i g u r e 3 . If necessary, Maximize N = M the Presentation 1 – Microsoft PowerPoint window.

A new, blank presentation opens in a new window. The PowerPoint window contains a slide in which you can type text. PowerPoint slides are designed to be displayed as you talk in front of a group of people.

4. In the upper right corner of the PowerPoint window, click the Close button fcgaj.

5. On the taskbar, click the Word button to make it the active window. With the insertion point flashing to the right of your name, press [Enter], and then type Skills for Success Common Features Chapter

6 . In the upper right corner of the Document 1 – Microsoft Word window, click the Minimize button

The Word window no longer displays, but its button is still available on the taskbar.

7 . With the Excel window active, in the first cell—cell A l — t y p e your first name. Press [Tab], and then type your last name.

Press (Enter), type =TODAY() and then press (Enter) to calculate the current date and to display it in the cell.

In the Excel window, click the Restore Down button |jSU and then compare your screen with F i g u r e 4.

The window remains open, but it no longer fills the entire screen. The Maximize button replaced the Restore Down button.

Y o u h a v e c o m p l e t e d S k i l l 2 o f 1 0

8 .

9 .

F i g u r e 4

C o m m o n F e a t u r e s C h a p t e r 1 | C o m m o n F e a t u r e s o f O f f i c e 2 0 1 0 9http://Sn1p.Hnw.9e

• SKILL 3: Sav<

• A new document or spreadsheet is stored in the computer ‘s temporary memory (RAM) until you save it to your hard drive or USB flash drive.

1 . If you are saving your work on a USB flash drive, insert the USB flash drive into the computer now. If the Windows Explorer button [3 flashes on the taskbar, right-click the button, and then on the Jump List, click Close window.

2 . On the taskbar, click the Word button to make it the active window. On the Quick Access Toolbar, click the Save button [y].

For new documents, the first time you click the Save button, the Save As dialog box opens so that you can name the file.

3 . If you are to save your work on a USB drive, in the Navigation pane scroll down to display the list of drives, and then click your USB flash drive as shown in F i g u r e 1 . If you are saving your work to another location, in the Navigation pane, locate and then click that folder or drive.

Categories
custom term paper writing term paper help term paper writing service

some recent financial statements for smolira golf corp follow

· Ch. 3: Questions 4 & 7 (Question and Problems section)

·

· I HIGH LIGHTED IT BELOW IN BOLD

PART 2 Financial Statements and Long-Term Financial Planning

Working with Financial Statements3

THE PRICE OF A SHARE OF COMMON STOCK in cereal maker General Mills closed at about $49 on January 8, 2014. At that price, General Mills had a price–earnings (PE) ratio of 18. That is, investors were willing to pay $18 for every dollar in income earned by General Mills. At the same time, investors were willing to pay $105, $31, and $11 for each dollar earned by Adobe Systems, Google, and Ford, respectively. At the other extreme were Blackberry and Twitter. Both had negative earnings for the previous year, yet Blackberry was priced at about $9 per share and Twitter at about $59 per share. Because they had negative earnings, their PE ratios would have been negative, so they were not reported. At the time, the typical stock in the S&P 500 index of large company stocks was trading at a PE of about 16, or about 16 times earnings, as they say on Wall Street.

Price-to-earnings comparisons are examples of the use of financial ratios. As we will see in this chapter, there are a wide variety of financial ratios, all designed to summarize specific aspects of a firm’s financial position. In addition to discussing how to analyze financial statements and compute financial ratios, we will have quite a bit to say about who uses this information and why.

For updates on the latest happenings in finance, visit www.fundamentalsofcorporatefinance.blogspot.com.

Learning Objectives

After studying this chapter, you should understand:

LO1How to standardize financial statements for comparison purposes.
LO2How to compute and, more importantly, interpret some common ratios.
LO3The determinants of a firm’s profitability.
LO4Some of the problems and pitfalls in financial statement analysis.

In Chapter 2, we discussed some of the essential concepts of financial statements and cash flow. Part 2, this chapter and the next, continues where our earlier discussion left off. Our goal here is to expand your understanding of the uses (and abuses) of financial statement information.

Financial statement information will crop up in various places in the remainder of our book. Part 2 is not essential for understanding this material, but it will help give you an overall perspective on the role of financial statement information in corporate finance.

A good working knowledge of financial statements is desirable simply because such statements, and numbers derived from those statements, are the primary means of communicating financial information both within the firm and outside the firm. In short, much of the language of corporate finance is rooted in the ideas we discuss in this chapter.

Page 50Furthermore, as we will see, there are many different ways of using financial statement information and many different types of users. This diversity reflects the fact that financial statement information plays an important part in many types of decisions.

In the best of all worlds, the financial manager has full market value information about all of the firm’s assets. This will rarely (if ever) happen. So, the reason we rely on accounting figures for much of our financial information is that we are almost always unable to obtain all (or even part) of the market information we want. The only meaningful yardstick for evaluating business decisions is whether they create economic value (see Chapter 1). However, in many important situations, it will not be possible to make this judgment directly because we can’t see the market value effects of decisions.

We recognize that accounting numbers are often just pale reflections of economic reality, but they are frequently the best available information. For privately held corporations, notfor-profit businesses, and smaller firms, for example, very little direct market value information exists at all. The accountant’s reporting function is crucial in these circumstances.

Clearly, one important goal of the accountant is to report financial information to the user in a form useful for decision making. Ironically, the information frequently does not come to the user in such a form. In other words, financial statements don’t come with a user’s guide. This chapter and the next are first steps in filling this gap.

3.1 Cash Flow and Financial Statements: A Closer Look

At the most fundamental level, firms do two different things: They generate cash and they spend it. Cash is generated by selling a product, an asset, or a security. Selling a security involves either borrowing or selling an equity interest (shares of stock) in the firm. Cash is spent in paying for materials and labor to produce a product and in purchasing assets. Payments to creditors and owners also require the spending of cash.

In Chapter 2, we saw that the cash activities of a firm could be summarized by a simple identity:

Cash flow from assets = Cash flow to creditors + Cash flow to owners

This cash flow identity summarizes the total cash result of all transactions a firm engages in during the year. In this section, we return to the subject of cash flow by taking a closer look at the cash events during the year that lead to these total figures.

SOURCES AND USES OF CASH

Activities that bring in cash are called sources of cash. Activities that involve spending cash are called uses (or applications) of cash. What we need to do is to trace the changes in the firm’s balance sheet to see how the firm obtained and spent its cash during some period.

To get started, consider the balance sheets for the Prufrock Corporation in Table 3.1. Notice that we have calculated the change in each of the items on the balance sheets.

Looking over the balance sheets for Prufrock, we see that quite a few things changed during the year. For example, Prufrock increased its net fixed assets by $149 and its inventory by $29. (Note that, throughout, all figures are in millions of dollars.) Where did the money come from? To answer this and related questions, we need to first identify those changes that used up cash (uses) and those that brought cash in (sources).

A little common sense is useful here. A firm uses cash by either buying assets or making payments. So, loosely speaking, an increase in an asset account means the firm, on a net basis, bought some assets—a use of cash. If an asset account went down, then on a net basis, the firm sold some assets. This would be a net source. Similarly, if a liability account goes down, then the firm has made a net payment—a use of cash.

Excel Master It!

Excel Master coverage online

sources of cash A firm’s activities that generate cash.

uses of cash A firm’s activities in which cash is spent. Also called applications of cash.

TABLE 3.1

Page 51

Given this reasoning, there is a simple, albeit mechanical, definition you may find useful. An increase in a left-side (asset) account or a decrease in a right-side (liability or equity) account is a use of cash. Likewise, a decrease in an asset account or an increase in a liability (or equity) account is a source of cash.

Looking again at Prufrock, we see that inventory rose by $29. This is a net use because Prufrock effectively paid out $29 to increase inventories. Accounts payable rose by $32. This is a source of cash because Prufrock effectively has borrowed an additional $32 payable by the end of the year. Notes payable, on the other hand, went down by $35, so Pru-frock effectively paid off $35 worth of short-term debt—a use of cash.

Based on our discussion, we can summarize the sources and uses of cash from the balance sheet as follows:

Company financial information can be found in many places on the Web, including finance.yahoo.comfinance.google.com, and money.msn.com.

TABLE 3.2

Page 52

The net addition to cash is just the difference between sources and uses, and our $14 result here agrees with the $14 change shown on the balance sheet.

This simple statement tells us much of what happened during the year, but it doesn’t tell the whole story. For example, the increase in retained earnings is net income (a source of funds) less dividends (a use of funds). It would be more enlightening to have these reported separately so we could see the breakdown. Also, we have considered only net fixed asset acquisitions. Total or gross spending would be more interesting to know.

To further trace the flow of cash through the firm during the year, we need an income statement. For Prufrock, the results for the year are shown in Table 3.2.

Notice here that the $242 addition to retained earnings we calculated from the balance sheet is just the difference between the net income of $363 and the dividends of $121.

THE STATEMENT OF CASH FLOWS

There is some flexibility in summarizing the sources and uses of cash in the form of a financial statement. However it is presented, the result is called the statement of cash flows.

We present a particular format for this statement in Table 3.3. The basic idea is to group all the changes into three categories: operating activities, financing activities, and investment activities. The exact form differs in detail from one preparer to the next.

Don’t be surprised if you come across different arrangements. The types of information presented will be similar; the exact order can differ. The key thing to remember in this case is that we started out with $84 in cash and ended up with $98, for a net increase of $14. We’re just trying to see what events led to this change.

Going back to Chapter 2, we note that there is a slight conceptual problem here. Interest paid should really go under financing activities, but unfortunately that’s not the way the accounting is handled. The reason, you may recall, is that interest is deducted as an expense when net income is computed. Also, notice that the net purchase of fixed assets was $149. Because Prufrock wrote off $276 worth of assets (the depreciation), it must have actually spent a total of $149 + 276 = $425 on fixed assets.

Once we have this statement, it might seem appropriate to express the change in cash on a per-share basis, much as we did for net income. Ironically, despite the interest we might have in some measure of cash flow per share, standard accounting practice expressly prohibits reporting this information. The reason is that accountants feel that cash flow (or some component of cash flow) is not an alternative to accounting income, so only earnings per share are to be reported.

As shown in Table 3.4, it is sometimes useful to present the same information a bit differently. We will call this the “sources and uses of cash” statement. There is no such statement in financial accounting, but this arrangement resembles one used many years ago. As we will discuss, this form can come in handy, but we emphasize again that it is not the way this information is normally presented.

statement of cash flows A firm’s financial statement that summarizes its sources and uses of cash over a specified period.

Page 53TABLE 3.3

TABLE 3.4

Page 54Now that we have the various cash pieces in place, we can get a good idea of what happened during the year. Prufrock’s major cash outlays were fixed asset acquisitions and cash dividends. It paid for these activities primarily with cash generated from operations.

Prufrock also retired some long-term debt and increased current assets. Finally, current liabilities were not greatly changed, and a relatively small amount of new equity was sold. Altogether, this short sketch captures Prufrock’s major sources and uses of cash for the year.

Concept Questions

3.1a   What is a source of cash? Give three examples.

3.1b   What is a use, or application, of cash? Give three examples.

3.2 Standardized Financial Statements

The next thing we might want to do with Prufrock’s financial statements is compare them to those of other similar companies. We would immediately have a problem, however. It’s almost impossible to directly compare the financial statements for two companies because of differences in size.

For example, Ford and GM are serious rivals in the auto market, but GM is bigger (in terms of market share), so it is difficult to compare them directly. For that matter, it’s difficult even to compare financial statements from different points in time for the same company if the company’s size has changed. The size problem is compounded if we try to compare GM and, say, Toyota. If Toyota’s financial statements are denominated in yen, then we have size and currency differences.

To start making comparisons, one obvious thing we might try to do is to somehow standardize the financial statements. One common and useful way of doing this is to work with percentages instead of total dollars. In this section, we describe two different ways of standardizing financial statements along these lines.

COMMON-SIZE STATEMENTS

To get started, a useful way of standardizing financial statements is to express each item on the balance sheet as a percentage of assets and to express each item on the income statement as a percentage of sales. The resulting financial statements are called common-size statements. We consider these next.

Common-Size Balance Sheets   One way, though not the only way, to construct a common-size balance sheet is to express each item as a percentage of total assets. Pru-frock’s 2014 and 2015 common-size balance sheets are shown in Table 3.5.

Notice that some of the totals don’t check exactly because of rounding. Also notice that the total change has to be zero because the beginning and ending numbers must add up to 100 percent.

In this form, financial statements are relatively easy to read and compare. For example, just looking at the two balance sheets for Prufrock, we see that current assets were 19.7 percent of total assets in 2015, up from 19.1 percent in 2014. Current liabilities declined from 16.0 percent to 15.1 percent of total liabilities and equity over that same time. Similarly, total equity rose from 68.1 percent of total liabilities and equity to 72.2 percent.

Excel Master It!

Excel Master coverage online

common-size statement A standardized financial statement presenting all items in percentage terms. Balance sheet items are shown as a percentage of assets and income statement items as a percentage of sales.

Page 55TABLE 3.5

Overall, Prufrock’s liquidity, as measured by current assets compared to current liabilities, increased over the year. Simultaneously, Prufrock’s indebtedness diminished as a percentage of total assets. We might be tempted to conclude that the balance sheet has grown “stronger.” We will say more about this later.

Common-Size Income Statements   A useful way of standardizing the income statement is to express each item as a percentage of total sales, as illustrated for Prufrock in Table 3.6.

This income statement tells us what happens to each dollar in sales. For Prufrock, interest expense eats up $.061 out of every sales dollar and taxes take another $.081. When all is said and done, $.157 of each dollar flows through to the bottom line (net income), and that amount is split into $.105 retained in the business and $.052 paid out in dividends.

These percentages are useful in comparisons. For example, a relevant figure is the cost percentage. For Prufrock, $.582 of each $1 in sales goes to pay for goods sold. It would be interesting to compute the same percentage for Prufrock’s main competitors to see how Prufrock stacks up in terms of cost control.

Page 56TABLE 3.6

Common-Size Statements of Cash Flows Although we have not presented it here, it is also possible and useful to prepare a common-size statement of cash flows. Unfortunately, with the current statement of cash flows, there is no obvious denominator such as total assets or total sales. However, if the information is arranged in a way similar to that in Table 3.4, then each item can be expressed as a percentage of total sources (or total uses). The results can then be interpreted as the percentage of total sources of cash supplied or as the percentage of total uses of cash for a particular item.

COMMON-BASE YEAR FINANCIAL STATEMENTS: TREND ANALYSIS

Imagine we were given balance sheets for the last 10 years for some company and we were trying to investigate trends in the firm’s pattern of operations. Does the firm use more or less debt? Has the firm grown more or less liquid? A useful way of standardizing financial statements in this case is to choose a base year and then express each item relative to the base amount. We will call the resulting statements common-base year statements.

For example, from 2014 to 2015, Prufrock’s inventory rose from $393 to $422. If we pick 2014 as our base year, then we would set inventory equal to 1.00 for that year. For the next year, we would calculate inventory relative to the base year as $422/393 = 1.07. In this case, we could say inventory grew by about 7 percent during the year. If we had multiple years, we would just divide the inventory figure for each one by $393. The resulting series is easy to plot, and it is then easy to compare companies. Table 3.7 summarizes these calculations for the asset side of the balance sheet.

COMBINED COMMON-SIZE AND BASE YEAR ANALYSIS

The trend analysis we have been discussing can be combined with the common-size analysis discussed earlier. The reason for doing this is that as total assets grow, most of the other accounts must grow as well. By first forming the common-size statements, we eliminate the effect of this overall growth.

For example, looking at Table 3.7, we see that Prufrock’s accounts receivable were $165, or 4.9 percent of total assets, in 2014. In 2015, they had risen to $188, which was 5.2 percent of total assets. If we do our analysis in terms of dollars, then the 2015 figure would be $188/165 = 1.14, representing a 14 percent increase in receivables. However, if we work with the common-size statements, then the 2015 figure would be 5.2%/4.9% = 1.06. This tells us accounts receivable, as a percentage of total assets, grew by 6 percent. Roughly speaking, what we see is that of the 14 percent total increase, about 8 percent (= 14% – 6%) is attributable simply to growth in total assets.

common-base year statement A standardized financial statement presenting all items relative to a certain base year amount.

Page 57TABLE 3.7

NOTE: The common-size numbers are calculated by dividing each item by total assets for that year. For example, the 2014 common-size cash amount is $84/3,373 = 2.5%. The common-base year numbers are calculated by dividing each 2015 item by the base year (2014) dollar amount. The common-base cash is thus $98/84 = 1.17, representing a 17 percent increase. The combined common-size and base year figures are calculated by dividing each common-size amount by the base year (2014) common-size amount. The cash figure is therefore 2.7%/2.5% = 1.08, representing an 8 percent increase in cash holdings as a percentage of total assets. Columns may not total precisely due to rounding.

Concept Questions

3.2a   Why is it often necessary to standardize financial statements?

3.2b   Name two types of standardized statements and describe how each is formed.

3.3 Ratio Analysis

Another way of avoiding the problems involved in comparing companies of different sizes is to calculate and compare financial ratios. Such ratios are ways of comparing and investigating the relationships between different pieces of financial information. Using ratios eliminates the size problem because the size effectively divides out. We’re then left with percentages, multiples, or time periods.

There is a problem in discussing financial ratios. Because a ratio is simply one number divided by another, and because there are so many accounting numbers out there, we could examine a huge number of possible ratios. Everybody has a favorite. We will restrict ourselves to a representative sampling.

In this section, we only want to introduce you to some commonly used financial ratios. These are not necessarily the ones we think are the best. In fact, some of them may strike you as illogical or not as useful as some alternatives. If they do, don’t be concerned. As a financial analyst, you can always decide how to compute your own ratios.

What you do need to worry about is the fact that different people and different sources seldom compute these ratios in exactly the same way, and this leads to much confusion. The specific definitions we use here may or may not be the same as ones you have seen or will see elsewhere. If you are ever using ratios as a tool for analysis, you should be careful to document how you calculate each one. And if you are comparing your numbers to numbers from another source, be sure you know how those numbers are computed.

Excel Master It!

Excel Master coverage online

financial ratios Relationships determined from a firm’s financial information and used for comparison purposes.

Page 58We will defer much of our discussion of how ratios are used and some problems that come up with using them until later in the chapter. For now, for each of the ratios we discuss, we consider several questions:

1. How is it computed?

2. What is it intended to measure, and why might we be interested?

3. What is the unit of measurement?

4. What might a high or low value tell us? How might such values be misleading?

5. How could this measure be improved?

Financial ratios are traditionally grouped into the following categories:

1. Short-term solvency, or liquidity, ratios.

2. Long-term solvency, or financial leverage, ratios.

3. Asset management, or turnover, ratios.

4. Profitability ratios.

5. Market value ratios.

We will consider each of these in turn. In calculating these numbers for Prufrock, we will use the ending balance sheet (2015) figures unless we say otherwise. Also notice that the various ratios are color keyed to indicate which numbers come from the income statement and which come from the balance sheet.

SHORT-TERM SOLVENCY, OR LIQUIDITY, MEASURES

As the name suggests, short-term solvency ratios as a group are intended to provide information about a firm’s liquidity, and these ratios are sometimes called liquidity measures. The primary concern is the firm’s ability to pay its bills over the short run without undue stress. Consequently, these ratios focus on current assets and current liabilities.

For obvious reasons, liquidity ratios are particularly interesting to short-term creditors. Because financial managers work constantly with banks and other short-term lenders, an understanding of these ratios is essential.

One advantage of looking at current assets and liabilities is that their book values and market values are likely to be similar. Often (though not always), these assets and liabilities just don’t live long enough for the two to get seriously out of step. On the other hand, like any type of near-cash, current assets and liabilities can and do change fairly rapidly, so today’s amounts may not be a reliable guide to the future.

Current Ratio   One of the best known and most widely used ratios is the current ratio. As you might guess, the current ratio is defined as follows:

Here is Prufrock’s 2015 current ratio:

Because current assets and liabilities are, in principle, converted to cash over the following 12 months, the current ratio is a measure of short-term liquidity. The unit of measurement is either dollars or times. So, we could say Prufrock has $1.31 in current assets for every $1 in current liabilities, or we could say Prufrock has its current liabilities covered 1.31 times over.

To a creditor—particularly a short-term creditor such as a supplier—the higher the current ratio, the better. To the firm, a high current ratio indicates liquidity, but it also may indicate an inefficient use of cash and other short-term assets. Absent some extraordinary circumstances, we would expect to see a current ratio of at least 1 because a current ratio of less than 1 would mean that net working capital (current assets less current liabilities) is negative. This would be unusual in a healthy firm, at least for most types of businesses.

Go to  www.reuters.com  to examine comparative ratios for a huge number of companies.

Page 59The current ratio, like any ratio, is affected by various types of transactions. For example, suppose the firm borrows over the long term to raise money. The short-run effect would be an increase in cash from the issue proceeds and an increase in long-term debt. Current liabilities would not be affected, so the current ratio would rise.

Finally, note that an apparently low current ratio may not be a bad sign for a company with a large reserve of untapped borrowing power.

EXAMPLE 3.1 Current Events

Suppose a firm pays off some of its suppliers and short-term creditors. What happens to the current ratio? Suppose a firm buys some inventory. What happens in this case? What happens if a firm sells some merchandise?

The first case is a trick question. What happens is that the current ratio moves away from 1. If it is greater than 1 (the usual case), it will get bigger. But if it is less than 1, it will get smaller. To see this, suppose the firm has $4 in current assets and $2 in current liabilities for a current ratio of 2. If we use $1 in cash to reduce current liabilities, then the new current ratio is ($4 – 1)/($2 – 1) = 3. If we reverse the original situation to $2 in current assets and $4 in current liabilities, then the change will cause the current ratio to fall to 1/3 from 1/2.

The second case is not quite as tricky. Nothing happens to the current ratio because cash goes down while inventory goes up—total current assets are unaffected.

In the third case, the current ratio will usually rise because inventory is normally shown at cost and the sale will normally be at something greater than cost (the difference is the markup). The increase in either cash or receivables is therefore greater than the decrease in inventory. This increases current assets, and the current ratio rises.

The Quick (or Acid-Test) Ratio   Inventory is often the least liquid current asset. It’s also the one for which the book values are least reliable as measures of market value because the quality of the inventory isn’t considered. Some of the inventory may later turn out to be damaged, obsolete, or lost.

More to the point, relatively large inventories are often a sign of short-term trouble. The firm may have overestimated sales and overbought or overproduced as a result. In this case, the firm may have a substantial portion of its liquidity tied up in slow-moving inventory.

To further evaluate liquidity, the quick, or acid-test, ratio is computed just like the current ratio, except inventory is omitted:

Notice that using cash to buy inventory does not affect the current ratio, but it reduces the quick ratio. Again, the idea is that inventory is relatively illiquid compared to cash.

For Prufrock, this ratio for 2015 was:

The quick ratio here tells a somewhat different story than the current ratio because inventory accounts for more than half of Prufrock’s current assets. To exaggerate the point, if this inventory consisted of, say, unsold nuclear power plants, then this would be a cause for concern.

Page 60To give an example of current versus quick ratios, based on recent financial statements, Walmart and Manpower Inc. had current ratios of .83 and .14, respectively. However, Manpower carries no inventory to speak of, whereas Walmart’s current assets are virtually all inventory. As a result, Walmart’s quick ratio was only .22, whereas Manpower’s was .14, the same as its current ratio.

Other Liquidity Ratios   We briefly mention three other measures of liquidity. A very short-term creditor might be interested in the cash ratio:

You can verify that for 2015 this works out to be .18 times for Prufrock.

Because net working capital, or NWC, is frequently viewed as the amount of short-term liquidity a firm has, we can consider the ratio of NWC to total assets:

A relatively low value might indicate relatively low levels of liquidity. Here, this ratio works out to be ($708 − 540)/$3,588 = 4.7%.

Finally, imagine that Prufrock was facing a strike and cash inflows began to dry up. How long could the business keep running? One answer is given by the interval measure:

Total costs for the year, excluding depreciation and interest, were $1,344. The average daily cost was $1,344/365 = $3.68 per day.1 The interval measure is thus $708/$3.68 = 192 days. Based on this, Prufrock could hang on for six months or so.2

The interval measure (or something similar) is also useful for newly founded or start-up companies that often have little in the way of revenues. For such companies, the interval measure indicates how long the company can operate until it needs another round of financing. The average daily operating cost for start-up companies is often called the burn rate, meaning the rate at which cash is burned in the race to become profitable.

LONG-TERM SOLVENCY MEASURES

Long-term solvency ratios are intended to address the firm’s long-term ability to meet its obligations, or, more generally, its financial leverage. These are sometimes called financial leverage ratios or just leverage ratios. We consider three commonly used measures and some variations.

Total Debt Ratio The total debt ratio takes into account all debts of all maturities to all creditors. It can be defined in several ways, the easiest of which is this:

Page 61In this case, an analyst might say that Prufrock uses 28 percent debt.3 Whether this is high or low or whether it even makes any difference depends on whether capital structure matters, a subject we discuss in Part 6.

Prufrock has $.28 in debt for every $1 in assets. Therefore, there is $.72 in equity (=$1 − .28) for every $.28 in debt. With this in mind, we can define two useful variations on the total debt ratio—the debt–equity ratio and the equity multiplier:

The fact that the equity multiplier is 1 plus the debt–equity ratio is not a coincidence:

The thing to notice here is that given any one of these three ratios, you can immediately calculate the other two; so, they all say exactly the same thing.

A Brief Digression: Total Capitalization versus Total Assets Frequently, financial analysts are more concerned with a firm’s long-term debt than its short-term debt because the short-term debt will constantly be changing. Also, a firm’s accounts payable may reflect trade practice more than debt management policy. For these reasons, the long-term debt ratio is often calculated as follows:

The $3,048 in total long-term debt and equity is sometimes called the firm’s total capitalization, and the financial manager will frequently focus on this quantity rather than on total assets.

To complicate matters, different people (and different books) mean different things by the term debt ratio. Some mean a ratio of total debt, some mean a ratio of long-term debt only, and, unfortunately, a substantial number are simply vague about which one they mean.

This is a source of confusion, so we choose to give two separate names to the two measures. The same problem comes up in discussing the debt–equity ratio. Financial analysts frequently calculate this ratio using only long-term debt.

Times Interest Earned   Another common measure of long-term solvency is the times interest earned (TIE) ratio. Once again, there are several possible (and common) definitions, but we’ll stick with the most traditional:

Ratios used to analyze technology firms can be found at  www.chalfin.com  under the “Publications” link.

Page 62As the name suggests, this ratio measures how well a company has its interest obligations covered, and it is often called the interest coverage ratio. For Prufrock, the interest bill is covered 4.9 times over.

Cash Coverage A problem with the TIE ratio is that it is based on EBIT, which is not really a measure of cash available to pay interest. The reason is that depreciation, a noncash expense, has been deducted out. Because interest is definitely a cash outflow (to creditors), one way to define the cash coverage ratio is this:

The numerator here, EBIT plus depreciation, is often abbreviated EBITD (earnings before interest, taxes, and depreciation—say “ebbit-dee”). It is a basic measure of the firm’s ability to generate cash from operations, and it is frequently used as a measure of cash flow available to meet financial obligations.

A common variation on EBITD is earnings before interest, taxes, depreciation, and amortization (EBITDA—say “ebbit-dah”). Here amortization refers to a noncash deduction similar conceptually to depreciation, except it applies to an intangible asset (such as a patent) rather than a tangible asset (such as a machine). Note that the word amortization here does not refer to the repayment of debt, a subject we discuss in a later chapter.

ASSET MANAGEMENT, OR TURNOVER, MEASURES

We next turn our attention to the efficiency with which Prufrock uses its assets. The measures in this section are sometimes called asset utilization ratios. The specific ratios we discuss can all be interpreted as measures of turnover. What they are intended to describe is how efficiently or intensively a firm uses its assets to generate sales. We first look at two important current assets: inventory and receivables.

Inventory Turnover and Days’ Sales in Inventory   During the year, Prufrock had a cost of goods sold of $1,344. Inventory at the end of the year was $422. With these numbers, inventory turnover can be calculated as follows:

In a sense, Prufrock sold off or turned over the entire inventory 3.2 times.4 As long as we are not running out of stock and thereby forgoing sales, the higher this ratio is, the more efficiently we are managing inventory.

If we know we turned our inventory over 3.2 times during the year, we can immediately figure out how long it took us to turn it over on average. The result is the average days’ sales in inventory:

Page 63This tells us that, roughly speaking, inventory sits 115 days on average before it is sold. Alternatively, assuming we have used the most recent inventory and cost figures, it will take about 115 days to work off our current inventory.

To give an example, in December 2013, the U.S. automobile industry as a whole had a 54-day supply of cars, less than the 60-day supply considered normal. This figure means that at the then-current rate of sales, it would have taken 54 days to deplete the available supply. Of course, there is significant variation across models, with newer, hotter-selling models in shorter supply (and vice versa). So, also in December 2013, the Nissan LEAF had only 13 days of sales compared to 232 days for the Cadillac ATS.

It might make more sense to use the average inventory in calculating turnover. Inventory turnover would then be $1,344/[($393 + 422)/2] = 3.3 times.5 It depends on the purpose of the calculation. If we are interested in how long it will take us to sell our current inventory, then using the ending figure (as we did initially) is probably better.

In many of the ratios we discuss in this chapter, average figures could just as well be used. Again, it depends on whether we are worried about the past, in which case averages are appropriate, or the future, in which case ending figures might be better. Also, using ending figures is common in reporting industry averages; so, for comparison purposes, ending figures should be used in such cases. In any event, using ending figures is definitely less work, so we’ll continue to use them.

Receivables Turnover and Days’ Sales in Receivables  Our inventory measures give some indication of how fast we can sell product. We now look at how fast we collect on those sales. The receivables turnover is defined much like inventory turnover:

Loosely speaking, Prufrock collected its outstanding credit accounts and reloaned the money 12.3 times during the year.6

This ratio makes more sense if we convert it to days, so here is the days’ sales in receivables:

Therefore, on average, Prufrock collects on its credit sales in 30 days. For obvious reasons, this ratio is frequently called the average collection period (ACP).

Note that if we are using the most recent figures, we could also say that we have 30 days’ worth of sales currently uncollected. We will learn more about this subject when we study credit policy in a later chapter.

EXAMPLE 3.2 Payables Turnover

Here is a variation on the receivables collection period. How long, on average, does it take for Prufrock Corporation to pay its bills? To answer, we need to calculate the accounts payable turnover rate using cost of goods sold. We will assume that Prufrock purchases everything on credit.

Page 64The cost of goods sold is $1,344, and accounts payable are $344. The turnover is therefore $1,344/$344 = 3.9 times. So, payables turned over about every 365/3.9 = 94 days. On average, then, Prufrock takes 94 days to pay. As a potential creditor, we might take note of this fact.

Asset Turnover Ratios  Moving away from specific accounts like inventory or receivables, we can consider several “big picture” ratios. For example, NWC turnover is:

This ratio measures how much “work” we get out of our working capital. Once again, assuming we aren’t missing out on sales, a high value is preferred. (Why?)

Similarly, fixed asset turnover is:

With this ratio, it probably makes more sense to say that for every dollar in fixed assets, Prufrock generated $.80 in sales.

Our final asset management ratio, the total asset turnover, comes up quite a bit. We will see it later in this chapter and in the next chapter. As the name suggests, the total asset turnover is:

In other words, for every dollar in assets, Prufrock generated $.64 in sales.

To give an example of fixed and total asset turnover, based on recent financial statements, Southwest Airlines had a total asset turnover of .88, compared to 1.50 for IBM. However, the much higher investment in fixed assets in an airline is reflected in Southwest’s fixed asset turnover of 1.17, compared to IBM’s 4.41.

EXAMPLE 3.3 More Turnover

Suppose you find that a particular company generates $.40 in sales for every dollar in total assets. How often does this company turn over its total assets?

The total asset turnover here is .40 times per year. It takes 1/.40 = 2.5 years to turn total assets over completely.

PROFITABILITY MEASURES

The three measures we discuss in this section are probably the best known and most widely used of all financial ratios. In one form or another, they are intended to measure how efficiently a firm uses its assets and manages its operations. The focus in this group is on the bottom line, net income.

Page 65Profit Margin  Companies pay a great deal of attention to their profit margins:

This tells us that Prufrock, in an accounting sense, generates a little less than 16 cents in profit for every dollar in sales.

All other things being equal, a relatively high profit margin is obviously desirable. This situation corresponds to low expense ratios relative to sales. However, we hasten to add that other things are often not equal.

For example, lowering our sales price will usually increase unit volume but will normally cause profit margins to shrink. Total profit (or, more important, operating cash flow) may go up or down; so the fact that margins are smaller isn’t necessarily bad. After all, isn’t it possible that, as the saying goes, “Our prices are so low that we lose money on everything we sell, but we make it up in volume”?7

Return on Assets Return on assets (ROA) is a measure of profit per dollar of assets. It can be defined several ways, but the most common is this:

Return on Equity  Return on equity (ROE) is a measure of how the stockholders fared during the year. Because benefiting shareholders is our goal, ROE is, in an accounting sense, the true bottom-line measure of performance. ROE is usually measured as follows:

For every dollar in equity, therefore, Prufrock generated 14 cents in profit; but again this is correct only in accounting terms.

Because ROA and ROE are such commonly cited numbers, we stress that it is important to remember they are accounting rates of return. For this reason, these measures should properly be called return on book assets and return on book equity. In fact, ROE is sometimes called return on net worth. Whatever it’s called, it would be inappropriate to compare the result to, for example, an interest rate observed in the financial markets. We will have more to say about accounting rates of return in later chapters.

The fact that ROE exceeds ROA reflects Prufrock’s use of financial leverage. We will examine the relationship between these two measures in more detail shortly.

EXAMPLE 3.4 ROE and ROA

Because ROE and ROA are usually intended to measure performance over a prior period, it makes a certain amount of sense to base them on average equity and average assets, respectively. For Prufrock, how would you calculate these?

Page 66We first need to calculate average assets and average equity:

With these averages, we can recalculate ROA and ROE as follows:

These are slightly higher than our previous calculations because assets and equity grew during the year, so the average values are below the ending values.

MARKET VALUE MEASURES

Our final group of measures is based, in part, on information not necessarily contained in financial statements—the market price per share of stock. Obviously, these measures can be calculated directly only for publicly traded companies.

We assume that Prufrock has 33 million shares outstanding and the stock sold for $88 per share at the end of the year. If we recall that Prufrock’s net income was $363 million, we can calculate its earnings per share:

Price–Earnings Ratio  The first of our market value measures, the price–earnings (PE) ratio (or multiple), is defined here:

In the vernacular, we would say that Prufrock shares sell for eight times earnings, or we might say that Prufrock shares have or “carry” a PE multiple of 8.

PE ratios vary substantially across companies, but, in 2014, a typical large company in the United States had a PE in the 15–20 range. This is on the high side by historical standards, but not dramatically so. A low point for PEs was about 5 in 1974. PEs also vary across countries. For example, Japanese PEs have historically been much higher than those of their U.S. counterparts.

Because the PE ratio measures how much investors are willing to pay per dollar of current earnings, higher PEs are often taken to mean the firm has significant prospects for future growth. Of course, if a firm had no or almost no earnings, its PE would probably be quite large; so, as always, care is needed in interpreting this ratio.

Sometimes analysts divide PE ratios by expected future earnings growth rates (after multiplying the growth rate by 100). The result is the PEG ratio. Suppose Prufrock’s anticipated growth rate in EPS was 6 percent. Its PEG ratio would then be 8/6 5 1.33. The idea behind the PEG ratio is that whether a PE ratio is high or low depends on expected future growth. High PEG ratios suggest that the PE is too high relative to growth, and vice versa.

Price–Sales Ratio  In some cases, companies will have negative earnings for extended periods, so their PE ratios are not very meaningful. A good example is a recent start-up. Such companies usually do have some revenues, so analysts will often look at the price–sales ratio:

Price–sales ratio = Price per share/Sales per share

Page 67In Prufrock’s case, sales were $2,311, so here is the price–sales ratio:

Price–sales ratio = $88/($2,311/33) = $88/$70 = 1.26

As with PE ratios, whether a particular price–sales ratio is high or low depends on the industry involved.

Market-to-Book Ratio  A third commonly quoted market value measure is the market-to-book ratio:

Notice that book value per share is total equity (not just common stock) divided by the number of shares outstanding.

Because book value per share is an accounting number, it reflects historical costs. In a loose sense, the market-to-book ratio therefore compares the market value of the firm’s investments to their cost. A value less than 1 could mean that the firm has not been successful overall in creating value for its stockholders.

Market-to-book ratios in recent years appear high relative to past values. For example, for the 30 blue-chip companies that make up the widely followed Dow Jones Industrial Average, the historical norm is about 1.7; however, the market-to-book ratio for this group has recently been twice this size.

Another ratio, called Tobin’s Q ratio, is much like the market-to-book ratio. Tobin’s Q is the market value of the firm’s assets divided by their replacement cost:

Notice that we used two equivalent numerators here: the market value of the firm’s assets and the market value of its debt and equity.

Conceptually, the Q ratio is superior to the market-to-book ratio because it focuses on what the firm is worth today relative to what it would cost to replace it today. Firms with high Q ratios tend to be those with attractive investment opportunities or significant competitive advantages (or both). In contrast, the market-to-book ratio focuses on historical costs, which are less relevant.

As a practical matter, however, Q ratios are difficult to calculate with accuracy because estimating the replacement cost of a firm’s assets is not an easy task. Also, market values for a firm’s debt are often unobservable. Book values can be used instead in such cases, but accuracy may suffer.

Enterprise Value–EBITDA Ratio  A company’s enterprise value is an estimate of the mar ket value of the company’s operating assets. By operating assets, we mean all the assets of the firm except cash. Of course, it’s not practical to work with the individual assets of a firm because market values would usually not be available. Instead, we can use the right-hand side of the balance sheet and calculate the enterprise value as:

We use the book value for liabilities because we typically can’t get the market values, at least not for all of them. However, book value is usually a reasonable approximation for market value when it comes to liabilities, particularly short-term debts. Notice that the sum of the value of the market values of the stock and all liabilities equals the value of the firm’s assets from the balance sheet identity. Once we have this number, we subtract the cash to get the enterprise value.

Page 68TABLE 3.8 Common Financial Ratios

Enterprise value is frequently used to calculate the EBITDA ratio (or multiple):

This ratio is similar in spirit to the PE ratio, but it relates the value of all the operating assets (the enterprise value) to a measure of the operating cash flow generated by those assets (EBITDA).

CONCLUSION

This completes our definitions of some common ratios. We could tell you about more of them, but these are enough for now. We’ll go on to discuss some ways of using these ratios instead of just how to calculate them. Table 3.8 summarizes the ratios we’ve discussed.

Page 69

Concept Questions

3.3a   What are the five groups of ratios? Give two or three examples of each kind.

3.3b   Given the total debt ratio, what other two ratios can be computed? Explain how.

3.3c   Turnover ratios all have one of two figures as the numerator. What are these two figures? What do these ratios measure? How do you interpret the results?

3.3d   Profitability ratios all have the same figure in the numerator. What is it? What do these ratios measure? How do you interpret the results?

3.4 The DuPont Identity

Excel Master It!

Excel Master coverage online

As we mentioned in discussing ROA and ROE, the difference between these two profitability measures is a reflection of the use of debt financing, or financial leverage. We illustrate the relationship between these measures in this section by investigating a famous way of decomposing ROE into its component parts.

A CLOSER LOOK AT ROE

To begin, let’s recall the definition of ROE:

If we were so inclined, we could multiply this ratio by Assets/Assets without changing anything:

Notice that we have expressed the ROE as the product of two other ratios—ROA and the equity multiplier:

ROE = ROA × Equity multiplier = ROA × (1 + Debt–equity ratio)

Looking back at Prufrock, for example, we see that the debt–equity ratio was .39 and ROA was 10.12 percent. Our work here implies that Prufrock’s ROE, as we previously calculated, is this:

ROE = 10.12% × 1.38 = 14.01%

The difference between ROE and ROA can be substantial, particularly for certain businesses. For example, in 2013, American Express had an ROA of 3.12 percent, which is fairly typical for financial institutions. However, financial institutions tend to borrow a lot of money and, as a result, have relatively large equity multipliers. For American Express, ROE was about 24.40 percent, implying an equity multiplier of 7.81 times.

We can further decompose ROE by multiplying the top and bottom by total sales:

If we rearrange things a bit, ROE looks like this:

Page 70What we have now done is to partition ROA into its two component parts, profit margin and total asset turnover. The last expression of the preceding equation is called the DuPont identity, after the DuPont Corporation, which popularized its use.

We can check this relationship for Prufrock by noting that the profit margin was 15.71 percent and the total asset turnover was .64:

This 14.01 percent ROE is exactly what we had before.

The DuPont identity tells us that ROE is affected by three things:

1. Operating efficiency (as measured by profit margin).

2. Asset use efficiency (as measured by total asset turnover).

3. Financial leverage (as measured by the equity multiplier).

Weakness in either operating or asset use efficiency (or both) will show up in a diminished return on assets, which will translate into a lower ROE.

Considering the DuPont identity, it appears that the ROE could be leveraged up by increasing the amount of debt in the firm. However, notice that increasing debt also increases interest expense, which reduces profit margins, which acts to reduce ROE. So, ROE could go up or down, depending. More important, the use of debt financing has a number of other effects, and as we discuss at some length in Part 6, the amount of leverage a firm uses is governed by its capital structure policy.

The decomposition of ROE we’ve discussed in this section is a convenient way of systematically approaching financial statement analysis. If ROE is unsatisfactory by some measure, then the DuPont identity tells you where to start looking for the reasons.

General Motors provides a good example of how DuPont analysis can be very useful and also illustrates why care must be taken in interpreting ROE values. In 1989, GM had an ROE of 12.1 percent. By 1993, its ROE had improved to 44.1 percent, a dramatic improvement. On closer inspection, however, we find that over the same period GM’s profit margin had declined from 3.4 to 1.8 percent, and ROA had declined from 2.4 to 1.3 percent. The decline in ROA was moderated only slightly by an increase in total asset turnover from .71 to .73 over the period.

Given this information, how is it possible for GM’s ROE to have climbed so sharply? From our understanding of the DuPont identity, it must be the case that GM’s equity multiplier increased substantially. In fact, what happened was that GM’s book equity value was almost wiped out overnight in 1992 by changes in the accounting treatment of pension liabilities. If a company’s equity value declines sharply, its equity multiplier rises. In GM’s case, the multiplier went from 4.95 in 1989 to 33.62 in 1993. In sum, the dramatic “improvement” in GM’s ROE was almost entirely due to an accounting change that affected the equity multiplier and didn’t really represent an improvement in financial performance at all.

DuPont analysis (and ratio analysis in general) can be used to compare two companies as well. Yahoo! and Google are among the most important Internet companies in the world. We will use them to illustrate how DuPont analysis can be useful in helping to ask the right questions about a firm’s financial performance. The DuPont breakdowns for Yahoo! and Google are summarized in Table 3.9.

As shown, in 2013, Yahoo! had an ROE of 10.4 percent, up from its ROE in 2012 of 8.0 percent. In contrast, in 2013, Google had an ROE of 14.8 percent, about the same as its ROE in 2012 of 15.0 percent. Given this information, how is it possible that Google’s ROE could be so much higher during this period of time, and what accounts for the increase in Yahoo!’s ROE?

DuPont identity Popular expression breaking ROE into three parts: operating efficiency, asset use efficiency, and financial leverage.

Page 71TABLE 3.9

On closer inspection of the DuPont breakdown, we see that Yahoo!’s profit margin in 2013 was 29.2 percent. Meanwhile, Google’s profit margin was 21.6 percent. Further, Yahoo! and Google have similar financial leverage. What can account for Google’s advantage over Yahoo! in ROE? We see that in this case, it is clear that the difference between the two firms comes down to asset utilization.

AN EXPANDED DUPONT ANALYSIS

So far, we’ve seen how the DuPont equation lets us break down ROE into its basic three components: profit margin, total asset turnover, and financial leverage. We now extend this analysis to take a closer look at how key parts of a firm’s operations feed into ROE. To get going, we went to finance.yahoo.com and found financial statements for science and technology giant DuPont. What we found is summarized in Table 3.10.

Using the information in Table 3.10Figure 3.1 shows how we can construct an expanded DuPont analysis for DuPont and present that analysis in chart form. The advantage of the extended DuPont chart is that it lets us examine several ratios at once, thereby getting a better overall picture of a company’s performance and also allowing us to determine possible items to improve.

TABLE 3.10

Page 72FIGURE 3.1 Extended DuPont Chart for DuPont

Looking at the left side of our DuPont chart in Figure 3.1, we see items related to profitability. As always, profit margin is calculated as net income divided by sales. But as our chart emphasizes, net income depends on sales and a variety of costs, such as cost of goods sold (CoGS) and selling, general, and administrative expenses (SG&A expense). DuPont can increase its ROE by increasing sales and also by reducing one or more of these costs. In other words, if we want to improve profitability, our chart clearly shows us the areas on which we should focus.

Turning to the right side of Figure 3.1, we have an analysis of the key factors underlying total asset turnover. Thus, for example, we see that reducing inventory holdings through more efficient management reduces current assets, which reduces total assets, which then improves total asset turnover.

Page 73

Concept Questions

3.4a   Return on assets, or ROA, can be expressed as the product of two ratios. Which two?

3.4b   Return on equity, or ROE, can be expressed as the product of three ratios. Which three?

Excel Master It!

Excel Master coverage online

3.5 Using Financial Statement Information

Our last task in this chapter is to discuss in more detail some practical aspects of financial statement analysis. In particular, we will look at reasons for analyzing financial statements, how to get benchmark information, and some problems that come up in the process.

WHY EVALUATE FINANCIAL STATEMENTS?

As we have discussed, the primary reason for looking at accounting information is that we don’t have, and can’t reasonably expect to get, market value information. We stress that whenever we have market information, we will use it instead of accounting data. Also, if there is a conflict between accounting and market data, market data should be given precedence.

Financial statement analysis is essentially an application of “management by exception.” In many cases, such analysis will boil down to comparing ratios for one business with average or representative ratios. Those ratios that seem to differ the most from the averages are tagged for further study.

Internal Uses  Financial statement information has a variety of uses within a firm. Among the most important of these is performance evaluation. For example, managers are frequently evaluated and compensated on the basis of accounting measures of performance such as profit margin and return on equity. Also, firms with multiple divisions frequently compare the performance of those divisions using financial statement information.

Another important internal use we will explore in the next chapter is planning for the future. As we will see, historical financial statement information is useful for generating projections about the future and for checking the realism of assumptions made in those projections.

External Uses  Financial statements are useful to parties outside the firm, including short-term and long-term creditors and potential investors. For example, we would find such information quite useful in deciding whether to grant credit to a new customer.

We would also use this information to evaluate suppliers, and suppliers would review our statements before deciding to extend credit to us. Large customers use this information to decide if we are likely to be around in the future. Credit-rating agencies rely on financial statements in assessing a firm’s overall creditworthiness. The common theme here is that financial statements are a prime source of information about a firm’s financial health.

We would also find such information useful in evaluating our main competitors. We might be thinking of launching a new product. A prime concern would be whether the competition would jump in shortly thereafter. In this case, we would be interested in learning about our competitors’ financial strength to see if they could afford the necessary development.

Finally, we might be thinking of acquiring another firm. Financial statement information would be essential in identifying potential targets and deciding what to offer.

Page 74CHOOSING A BENCHMARK

Given that we want to evaluate a division or a firm based on its financial statements, a basic problem immediately comes up. How do we choose a benchmark, or a standard of comparison? We describe some ways of getting started in this section.

Time Trend Analysis  One standard we could use is history. Suppose we found that the current ratio for a particular firm is 2.4 based on the most recent financial statement information. Looking back over the last 10 years, we might find that this ratio had declined fairly steadily over that period.

Based on this, we might wonder if the liquidity position of the firm has deteriorated. It could be, of course, that the firm has made changes that allow it to more efficiently use its current assets, the nature of the firm’s business has changed, or business practices have changed. If we investigate, we might find any of these possible explanations behind the decline. This is an example of what we mean by management by exception—a deteriorating time trend may not be bad, but it does merit investigation.

Peer Group Analysis  The second means of establishing a benchmark is to identify firms similar in the sense that they compete in the same markets, have similar assets, and operate in similar ways. In other words, we need to identify a peer group. There are obvious problems with doing this because no two companies are identical. Ultimately the choice of which companies to use as a basis for comparison is subjective.

One common way of identifying potential peers is based on Standard Industrial Classification (SIC) codes. These are four-digit codes established by the U.S. government for statistical reporting. Firms with the same SIC code are frequently assumed to be similar.

The first digit in an SIC code establishes the general type of business. For example, firms engaged in finance, insurance, and real estate have SIC codes beginning with 6. Each additional digit narrows down the industry. So, companies with SIC codes beginning with 60 are mostly banks and banklike businesses; those with codes beginning with 602 are mostly commercial banks; and SIC code 6025 is assigned to national banks that are members of the Federal Reserve system. Table 3.11 lists selected two-digit codes (the first two digits of the four-digit SIC codes) and the industries they represent.

Standard Industrial Classification (SIC) code A U.S. government code used to classify a firm by its type of business operations.

TABLE 3.11 Selected Two-Digit SIC Codes

Page 75SIC codes are far from perfect. For example, suppose you were examining financial statements for Walmart, the largest retailer in the United States. The relevant two-digit SIC code is 53, General Merchandise Stores. In a quick scan of the nearest financial database, you would find about 20 large, publicly owned corporations with a similar SIC code, but you might not be comfortable with some of them. Target would seem to be a reasonable peer, but Neiman Marcus also carries the same industry code. Are Walmart and Neiman Marcus really comparable?

As this example illustrates, it is probably not appropriate to blindly use SIC code–based averages. Instead, analysts often identify a set of primary competitors and then compute a set of averages based on just this group. Also, we may be more concerned with a group of the top firms in an industry, not the average firm. Such a group is called an aspirant group because we aspire to be like its members. In this case, a financial statement analysis reveals how far we have to go.

Beginning in 1997, a new industry classification system was initiated. Specifically, the North American Industry Classification System (NAICS, pronounced “nakes”) is intended to replace the older SIC codes, and it will eventually. Currently, however, SIC codes are still widely used.

With these caveats about industry codes in mind, we can now take a look at a specific industry. Suppose we are in the retail hardware business. Table 3.12 contains some condensed common-size financial statements for this industry from the Risk Management Association (RMA, formerly known as Robert Morris Associates), one of many sources of such information. Table 3.13 contains selected ratios from the same source.

There is a large amount of information here, most of which is self-explanatory. On the right in Table 3.12, we have current information reported for different groups based on sales. Within each sales group, common-size information is reported. For example, firms with sales in the $10 million to $25 million range have cash and equivalents equal to 6.7 percent of total assets. There are 33 companies in this group, out of 337 in all.

On the left, we have three years’ worth of summary historical information for the entire group. For example, operating profit fell from 2.3 percent of sales to 1.7 percent over that time.

Table 3.13 contains some selected ratios, again reported by sales groups on the right and time period on the left. To see how we might use this information, suppose our firm has a current ratio of 2. Based on these ratios, is this value unusual?

Looking at the current ratio for the overall group for the most recent year (third column from the left in Table 3.13), we see that three numbers are reported. The one in the middle, 2.8, is the median, meaning that half of the 337 firms had current ratios that were lower and half had bigger current ratios. The other two numbers are the upper and lower quartiles. So, 25 percent of the firms had a current ratio larger than 4.9 and 25 percent had a current ratio smaller than 1.6. Our value of 2 falls comfortably within these bounds, so it doesn’t appear too unusual. This comparison illustrates how knowledge of the range of ratios is important in addition to knowledge of the average. Notice how stable the current ratio has been for the last three years.

EXAMPLE 3.5 More Ratios

Take a look at the most recent numbers reported for Sales/Receivables and EBIT/Interest in Table 3.13. What are the overall median values? What are these ratios?

If you look back at our discussion, you will see that these are the receivables turnover and the times interest earned, or TIE, ratios. The median value for receivables turnover for the entire group is 36.7 times. So, the days in receivables would be 365/36.7 = 10, which is the boldfaced number reported. The median for the TIE is 2.6 times. The number in parentheses indicates that the calculation is meaningful for, and therefore based on, only 295 of the 337 companies. In this case, the reason is that only 295 companies paid any significant amount of interest.

Page 76TABLE 3.12 Selected Financial Statement Information

Page 77TABLE 3.13 Selected Ratios

Page 78

M = $ thousand; MM = $ million.

© 2011 by RMA All rights reserved. No part of this table may be reproduced or utilized in any form or by any means, eletronic or mechanical, including photocopying, recording, or by any information storage and retrieval system, without permission in writing from RMA.

There are many sources of ratio information in addition to the one we examine here. Our nearby Work the Web box shows how to get this information for just about any company, along with some useful benchmarking information. Be sure to look it over and then benchmark your favorite company.

PROBLEMS WITH FINANCIAL STATEMENT ANALYSIS

We close our chapter on financial statements by discussing some additional problems that can arise in using financial statements. In one way or another, the basic problem with financial statement analysis is that there is no underlying theory to help us identify which quantities to look at and to guide us in establishing benchmarks.

As we discuss in other chapters, there are many cases in which financial theory and economic logic provide guidance in making judgments about value and risk. Little such help exists with financial statements. This is why we can’t say which ratios matter the most and what a high or low value might be.

One particularly severe problem is that many firms are conglomerates, owning more or less unrelated lines of business. The consolidated financial statements for such firms don’t fit any neat industry category. Well-known companies like General Electric (GE) and 3M fall into this category. More generally, the kind of peer group analysis we have been describing works best when the firms are strictly in the same line of business, the industry is competitive, and there is only one way of operating.

Another problem that is becoming increasingly common is that major competitors and natural peer group members in an industry may be scattered around the globe. The automobile industry is an obvious example. The problem here is that financial statements from outside the United States do not necessarily conform at all to GAAP. The existence of different standards and procedures makes it difficult to compare financial statements across national borders.

Even companies that are clearly in the same line of business may not be comparable. For example, electric utilities engaged primarily in power generation are all classified in the same group (SIC 4911). This group is often thought to be relatively homogeneous. However, most utilities operate as regulated monopolies, so they don’t compete much with each other, at least not historically. Many have stockholders, and many are organized as cooperatives with no stockholders. There are several different ways of generating power, ranging from hydroelectric to nuclear, so the operating activities of these utilities can differ quite a bit. Finally, profitability is strongly affected by regulatory environment, so utilities in different locations can be similar but show different profits.

Page 79

WORK THE WEB

As we discussed in this chapter, ratios are an important tool for examining a company’s performance. Gathering the necessary financial statements to calculate ratios can be tedious and time-consuming. Fortunately many sites on the Web provide this information for free. One of the best is www.reuters.com. We went there, entered the ticker symbol “HD” (for Home Depot), and then went to the ratio page. Here is an abbreviated look at the results:

The website reports the company, industry, and sector ratios. As you can see, Home Depot has higher quick and current ratios than the industry.

Questions

1. Go to  www.reuters.com  and find the major ratio categories listed on this website. How do the categories differ from the categories listed in this textbook?

2. Go to  www.reuters.com  and find all the ratios for Home Depot. How does the company compare to the industry for the ratios presented on this website?

Several other general problems frequently crop up. First, different firms use different accounting procedures—for inventory, for example. This makes it difficult to compare statements. Second, different firms end their fiscal years at different times. For firms in seasonal businesses (such as a retailer with a large Christmas season), this can lead to difficulties in comparing balance sheets because of fluctuations in accounts during the year. Finally, for any particular firm, unusual or transient events, such as a one-time profit from an asset sale, may affect financial performance. In comparing firms, such events can give misleading signals.

Page 80

Concept Questions

3.5a   What are some uses for financial statement analysis?

3.5b   Why do we say that financial statement analysis is management by exception?

3.5c   What are SIC codes and how might they be useful?

3.5d   What are some problems that can come up with financial statement analysis?

3.6 Summary and Conclusions

This chapter has discussed aspects of financial statement analysis:

1. Sources and uses of cash: We discussed how to identify the ways in which businesses obtain and use cash, and we described how to trace the flow of cash through a business over the course of the year. We briefly looked at the statement of cash flows.

2. Standardized financial statements: We explained that differences in size make it diffi-cult to compare financial statements, and we discussed how to form common-size and common-base period statements to make comparisons easier.

3. Ratio analysis: Evaluating ratios of accounting numbers is another way of comparing financial statement information. We therefore defined and discussed a number of the most commonly reported and used financial ratios. We also discussed the famous DuPont identity as a way of analyzing financial performance.

4. Using financial statements: We described how to establish benchmarks for comparison and discussed some types of information that are available. We then examined potential problems that can arise.

After you have studied this chapter, we hope that you have some perspective on the uses and abuses of financial statements. You should also find that your vocabulary of business and financial terms has grown substantially.

CONNECT TO FINANCE

For more practice, you should be in Connect Finance. Log on to connect.mheducation.com to get started!

Can you answer the following Connect Quiz questions?

Section 3.1What is an example of a source of cash?
Section 3.2Pioneer Aviation has total liabilities of $23,800 and total equity of $46,200. Current assets are $8,600. What is the common-size percentage for the current assets?
Section 3.3What ratio measures the number of days that a firm can operate based on its current assets?
Section 3.4What is the correct formula for computing the return on equity?
Section 3.5If you want to identify other firms that have similar assets and operations as your firm, what should you refer to?

Page 81

CHAPTER REVIEW AND SELF-TEST PROBLEMS

3.1   Sources and Uses of Cash Consider the following balance sheets for the Philippe Corporation. Calculate the changes in the various accounts and, where applicable, identify the change as a source or use of cash. What were the major sources and uses of cash? Did the company become more or less liquid during the year? What happened to cash during the year?

3.2   Common-Size Statements Here is the most recent income statement for Philippe. Prepare a common-size income statement based on this information. How do you interpret the standardized net income? What percentage of sales goes to cost of goods sold?

Page 823.3   Financial Ratios Based on the balance sheets and income statement in the previous two problems, calculate the following ratios for 2015:

3.4   ROE and the DuPont Identity Calculate the 2015 ROE for the Philippe Corporation and then break down your answer into its component parts using the DuPont identity.

ANSWERS TO CHAPTER REVIEW AND SELF-TEST PROBLEMS

3.1   We’ve filled in the answers in the following table. Remember, increases in assets and decreases in liabilities indicate that we spent some cash. Decreases in assets and increases in liabilities are ways of getting cash.    Philippe used its cash primarily to purchase fixed assets and to pay off short-term debt. The major sources of cash to do this were additional long-term borrowing, reductions in current assets, and additions to retained earnings.

Page 83The current ratio went from $1,072/1,922 = .56 to $853/1,725 = .49, so the firm’s liquidity appears to have declined somewhat. Overall, however, the amount of cash on hand increased by $5.

3.2   We’ve calculated the common-size income statement here. Remember that we simply divide each item by total sales.

Net income is 3.6 percent of sales. Because this is the percentage of each sales dollar that makes its way to the bottom line, the standardized net income is the firm’s profit margin. Cost of goods sold is 68.6 percent of sales.

3.3   We’ve calculated the following ratios based on the ending figures. If you don’t remember a definition, refer back to Table 3.8.

3.4   The return on equity is the ratio of net income to total equity. For Philippe, this is $146/$3,347 = 4.4%, which is not outstanding.    Given the DuPont identity, ROE can be written as follows:

Notice that return on assets, ROA, is 3.6% × .549 = 1.98%.

Page 84

CONCEPTS REVIEW AND CRITICAL THINKING QUESTIONS

1.   Current Ratio [LO2] What effect would the following actions have on a firm’s current ratio? Assume that net working capital is positive.

a. Inventory is purchased.

b. A supplier is paid.

c. A short-term bank loan is repaid.

d. A long-term debt is paid off early.

e. A customer pays off a credit account.

f. Inventory is sold at cost.

g. Inventory is sold for a profit.

2.   Current Ratio and Quick Ratio [LO2] In recent years, Dixie Co. has greatly increased its current ratio. At the same time, the quick ratio has fallen. What has happened? Has the liquidity of the company improved?

3.   Current Ratio [LO2] Explain what it means for a firm to have a current ratio equal to .50. Would the firm be better off if the current ratio were 1.50? What if it were 15.0? Explain your answers.

4.   Financial Ratios [LO2] Fully explain the kind of information the following financial ratios provide about a firm:

a. Quick ratio.

b. Cash ratio.

c. Total asset turnover.

d. Equity multiplier.

e. Long-term debt ratio.

f. Times interest earned ratio.

g. Profit margin.

h. Return on assets.

i. Return on equity.

j. Price–earnings ratio.

5.   Standardized Financial Statements [LO1] What types of information do common-size financial statements reveal about the firm? What is the best use for these common-size statements? What purpose do common-base year statements have? When would you use them?

6.   Peer Group Analysis [LO2] Explain what peer group analysis is. As a financial manager, how could you use the results of peer group analysis to evaluate the performance of your firm? How is a peer group different from an aspirant group?

7.   DuPont Identity [LO3] Why is the DuPont identity a valuable tool for analyzing the performance of a firm? Discuss the types of information it reveals compared to ROE considered by itself.

8.   Industry-Specific Ratios [LO2] Specialized ratios are sometimes used in specific industries. For example, the so-called book-to-bill ratio is closely watched for semiconductor manufacturers. A ratio of .93 indicates that for every $100 worth of chips shipped over some period, only $93 worth of new orders were received. In November 2013, the semiconductor equipment industry’s book-to-bill ratio was 1.11, compared to 1.05 during the month of October 2013. The book-to-bill ratio reached a recent low of .75 during October 2012 and a recent high of 1.23 during July 2010. The three-month average of worldwide bookings in November 2013 was $1.24 billion, an increase of 10.1 percent from October 2013, while the three-month average of billings was $1.11 billion, a 4.0 percent decrease from October 2013. What is this ratio intended to measure? Why do you think it is so closely followed?

9.   Industry-Specific Ratios [LO2] So-called same-store sales are a very important measure for companies as diverse as McDonald’s and Sears. As the name suggests, examining same-store sales means comparing revenues from the same stores or restaurants at two different points in time. Why might companies focus on same-store sales rather than total sales?

Page 8510.   Industry-Specific Ratios [LO2] There are many ways of using standardized financial information beyond those discussed in this chapter. The usual goal is to put firms on an equal footing for comparison purposes. For example, for auto manufacturers, it is common to express sales, costs, and profits on a per-car basis. For each of the following industries, give an example of an actual company and discuss one or more potentially useful means of standardizing financial information:

a. Public utilities.

b. Large retailers.

c. Airlines.

d. Online services.

e. Hospitals.

f. College textbook publishers.

11.   Statement of Cash Flows [LO4] In recent years, several manufacturing companies have reported the cash flow from the sale of Treasury securities in the cash from operations section of the statement of cash flows. What is the problem with this practice? Is there any situation in which this practice would be acceptable?

12.   Statement of Cash Flows [LO4] Suppose a company lengthens the time it takes to pay suppliers. How would this affect the statement of cash flows? How sustainable is the change in cash flows from this practice?

1.   Calculating Liquidity Ratios [LO2] SDJ, Inc., has net working capital of $1,920, current liabilities of $4,380, and inventory of $3,750. What is the current ratio? What is the quick ratio?

2.    Calculating Profitability Ratios [LO2] Shelton, Inc., has sales of $17.5 million, total assets of $13.1 million, and total debt of $5.7 million. If the profit margin is 6 percent, what is net income? What is ROA? What is ROE?

3.   Calculating the Average Collection Period [LO2] Aguilera Corp. has a current accounts receivable balance of $438,720. Credit sales for the year just ended were $5,173,820. What is the receivables turnover? The days’ sales in receivables? How long did it take on average for credit customers to pay off their accounts during the past year?

4.   Calculating Inventory Turnover [LO2] The Green Corporation has ending inventory of $417,381, and cost of goods sold for the year just ended was $4,682,715. What is the inventory turnover? The days’ sales in inventory? How long on average did a unit of inventory sit on the shelf before it was sold?

5.   Calculating Leverage Ratios [LO2] Levine, Inc., has a total debt ratio of .53. What is its debt–equity ratio? What is its equity multiplier?

6.    Calculating Market Value Ratios [LO2] Makers Corp. had additions to retained earnings for the year just ended of $395,000. The firm paid out $195,000 in cash dividends, and it has ending total equity of $5.3 million. If the company currently has 170,000 shares of common stock outstanding, what are earnings per share? Dividends per share? Book value per share? If the stock currently sells for $64 per share, what is the market-to-book ratio? The price–earnings ratio? If the company had sales of $5.15 million, what is the price–sales ratio?

7.   DuPont Identity [LO4] If Roten Rooters, Inc., has an equity multiplier of 1.15, total asset turnover of 2.10, and a profit margin of 6.1 percent, what is its ROE?

8.   DuPont Identity [LO4] Zombie Corp. has a profit margin of 5.1 percent, total asset turnover of 1.95, and ROE of 16.15 percent. What is this firm’s debt–equity ratio?

BASIC

(Questions 1–17)

Page 869.   Sources and Uses of Cash [LO4] Based only on the following information for Dawn Corp., did cash go up or down? By how much? Classify each event as a source or use of cash.

10.    Calculating Average Payables Period [LO2] Hare, Inc., had a cost of goods sold of $57,382. At the end of the year, the accounts payable balance was $10,432. How long on average did it take the company to pay off its suppliers during the year? What might a large value for this ratio imply?

11.   Enterprise Value–EBITDA Multiple [LO2] The market value of the equity of Thompson, Inc., is $610,000. The balance sheet shows $39,000 in cash and $204,000 in debt, while the income statement has EBIT of $96,000 and a total of $143,000 in depreciation and amortization. What is the enterprise value–EBITDA multiple for this company?

12.   Equity Multiplier and Return on Equity [LO3] SME Company has a debt– equity ratio of .65. Return on assets is 8.2 percent, and total equity is $515,000. What is the equity multiplier? Return on equity? Net income?    Just Dew It Corporation reports the following balance sheet information for 2014 and 2015. Use this information to work Problems 13 through 17.

13.   Preparing Standardized Financial Statements [LO1] Prepare the 2014 and 2015 common-size balance sheets for Just Dew It.

14.   Preparing Standardized Financial Statements [LO1] Prepare the 2015 common-base year balance sheet for Just Dew It.

15.   Preparing Standardized Financial Statements [LO1] Prepare the 2015 combined common-size, common-base year balance sheet for Just Dew It.

16.   Sources and Uses of Cash [LO4] For each account on this company’s balance sheet, show the change in the account during 2015 and note whether this change was a source or use of cash. Do your numbers add up and make sense? Explain your answer for total assets as compared to your answer for total liabilities and owners’ equity.

Page 8717.   Calculating Financial Ratios [LO2] Based on the balance sheets given for Just Dew It, calculate the following financial ratios for each year:

a. Current ratio.

b. Quick ratio.

c. Cash ratio.

d. NWC to total assets ratio.

e. Debt–equity ratio and equity multiplier.

f. Total debt ratio and long-term debt ratio.

18.    Using the DuPont Identity [LO3] Y3K, Inc., has sales of $5,783, total assets of $2,604, and a debt–equity ratio of .75. If its return on equity is 11 percent, what is its net income?

19.   Days’ Sales in Receivables [LO2] A company has net income of $186,000, a profit margin of 7.9 percent, and an accounts receivable balance of $123,840. Assuming 70 percent of sales are on credit, what is the company’s days’ sales in receivables?

20.   Ratios and Fixed Assets [LO2] The Caughlin Company has a long-term debt ratio of .45 and a current ratio of 1.25. Current liabilities are $987, sales are $6,860, profit margin is 8.6 percent, and ROE is 17.5 percent. What is the amount of the firm’s net fixed assets?

21.   Profit Margin [LO4] In response to complaints about high prices, a grocery chain runs the following advertising campaign: “If you pay your child $1.50 to go buy $50 worth of groceries, then your child makes twice as much on the trip as we do.” You’ve collected the following information from the grocery chain’s financial statements:

Evaluate the grocery chain’s claim. What is the basis for the statement? Is this claim misleading? Why or why not?

22.    Return on Equity [LO2] Firm A and Firm B have debt–total asset ratios of 55% and 40% and returns on total assets of 8% and 11%, respectively. Which firm has a greater return on equity?

23.   Calculating the Cash Coverage Ratio [LO2] Ugh Inc.’s net income for the most recent year was $17,382. The tax rate was 34 percent. The firm paid $3,953 in total interest expense and deducted $4,283 in depreciation expense. What was the cash coverage ratio for the year?

24.   Cost of Goods Sold [LO2] W & B Corp. has current liabilities of $387,000, a quick ratio of .85, inventory turnover of 8.4, and a current ratio of 1.35. What is the cost of goods sold for the company?

25.   Ratios and Foreign Companies [LO2] Prince Albert Canning PLC had a net loss of £27,835 on sales of £204,350. What was the company’s profit margin? Does the fact that these figures are quoted in a foreign currency make any difference? Why? In dollars, sales were $327,810. What was the net loss in dollars?    Some recent financial statements for Smolira Golf Corp. follow. Use this information to work Problems 26 through 30.

INTERMEDIATE

(Questions 18–30)

Page 88

26.    Calculating Financial Ratios [LO2] Find the following financial ratios for Smolira Golf Corp. (use year-end figures rather than average values where appropriate):

Page 89

27.   DuPont Identity [LO3] Construct the DuPont identity for Smolira Golf Corp.

28.   Statement of Cash Flows [LO4] Prepare the 2015 statement of cash flows for Smolira Golf Corp.

29.   Market Value Ratios [LO2] Smolira Golf Corp. has 25,000 shares of common stock outstanding, and the market price for a share of stock at the end of 2015 was $58. What is the price–earnings ratio? What are the dividends per share? What is the market-to-book ratio at the end of 2015? If the company’s growth rate is 9 percent, what is the PEG ratio?

30.   Tobin’s Q [LO2] What is Tobin’s Q for Smolira Golf? What assumptions are you making about the book value of debt and the market value of debt? What about the book value of assets and the market value of assets? Are these assumptions realistic? Why or why not?

EXCEL MASTER IT! PROBLEM

The eXtensible Business Reporting Language (XBRL) is likely the future of financial reporting. XBRL is a computer language that “tags” each item and specifies what that item is. XBRL reporting has already been adopted for use in Australia, Japan, and the United Kingdom. As of early 2011, a Securities and Exchange Commission advisory committee has recommended that U.S. companies be required to submit financial reports to the SEC in XBRL format. It has been suggested that requiring XBRL be gradually implemented, so it could be several years before we see all companies file XBRL financial reports. All listed U.S. companies file electronic reports with the SEC, but the reports are only available in html or text format. XBRL reporting will allow investors to quickly download financial statements for analysis.

Currently, several companies voluntarily submit financial statements in XBRL format. For this assignment, go to the SEC website at www.sec.gov. Once there, look up the financials for a company. Next to the 10-Q (quarterly) and 10-K (annual) reports, you should notice a link that says “Interactive.” Click on this link, follow the “Financial Statements” link, and select “View Excel Document.” This link will allow you to download all of the financial statements in one Excel document. Download the Excel document and copy into the next worksheet. Use these statements to calculate the ratios on that worksheet. Do you notice any changes in these ratios that might indicate further investigation?

MINICASE

Ratio Analysis at S&S Air, Inc.

Chris Guthrie was recently hired by S&S Air, Inc., to assist the company with its financial planning and to evaluate the company’s performance. Chris graduated from college five years ago with a finance degree. He has been employed in the finance department of a Fortune 500 company since then.

S&S Air was founded 10 years ago by friends Mark Sexton and Todd Story. The company has manufactured and sold light airplanes over this period, and the company’s products have received high reviews for safety and reliability. The company has a niche market in that it sells primarily to individuals who own and fly their own airplanes. The company has two models; the Birdie, which sells for $53,000, and the Eagle, which sells for $78,000.

Page 90Although the company manufactures aircraft, its operations are different from commercial aircraft companies. S&S Air builds aircraft to order. By using prefabricated parts, the company can complete the manufacture of an airplane in only five weeks. The company also receives a deposit on each order, as well as another partial payment before the order is complete. In contrast, a commercial airplane may take one and one-half to two years to manufacture once the order is placed.

Mark and Todd have provided the following financial statements. Chris has gathered the industry ratios for the light airplane manufacturing industry.

Categories
custom term paper writing term paper help term paper writing service

chapter 8 accounting test

McGraw Hill Connect, Chapter 8 Accounting assignment includes:

CHAPTER 8 HOMEWORK and CHAPTER 8 QUIZ completed online through McGraw Hill Connect site with my credentials DUE NO LATER THAN Sunday, 04-14-2013

AS WELL AS:

Upload DOCUMENTS of Chapter 8 TEST submitted to me through homework market DUE NO LATER THAN Sunday 04-14-2013 —- SEE BELOW:

For $40.00 total, due no later than 04-14-2013

Down payment of $15

Chapter 8 TEST document:


PROBLEM #1 – 22 points

Greenview Food Store developed the following information in recording its bank statement for the month of March 20XX.

                                    Balance per books on March 31   $     829

                                    Balance per bank on March 31     $  7,030

1)    Checks written in March but still outstanding, $5,200.

2)    Checks written in February but still outstanding, $1,200.

3)    Deposits of March 30 and 31 not yet recorded by bank, $3,100.

4)    NSF check of customer returned by bank, $400.

5)    Check #210 for $675 was correctly issued and paid by the bank but incorrectly entered in the cash payments  journal as payment on account for $657, for payment to a creditor.

6)    Bank service charge for March was $31.

7)    A payment on account was incorrectly entered into the cash payments journal and posted to the accounts payable subsidiary ledger for $854 when check #318 was correctly prepared for $584. The check cleared the bank in March.

8)    The bank collected a note receivable for the company for $3,000 plus $80 interest.

Instructions:

a)    Prepare a bank reconciliation for the Greenview Food Store for the month of March 31, 20XX.

b)    Journalize the adjusting entries for Greenview Food Store on March 31, 20XX.

Bank Reconciliation:

 
 
 
  
  
  
  
  
  
  
  
  
  
  
  

Journal Entries:                                                                                                                             

 General Journal  
DateDescriptionDebitCredit
     
     
     
     
     
     
     
     
     
     

PROBLEM  #2 – 18 points

Jenrob Company completed the following selected transactions during January 20XX.

      January 1            Established a petty cash fund of $500

                   15 The cash sales for the day per the register tape were $3,018.

                                    The actual cash received from cash sales were $3,011.

                   31 Petty cash on hand was $123. Replenished the petty cash fund for the following

                                    disbursements:

                                    Jan  2 Office supplies, $45

                                          10 Postage due on letter, $29 (Miscellaneous Expense)

                                          14 Office supplies, $56.

                                          17 Postage stamps, $42 (Office Supplies).

                                          20 Express charges on merchandise sold, $136 (Delivery Expense).

                                          22 Repair to desk, $63 (Miscellaneous Expense).

                                          30 Office supplies, $12.

                    31            The cash sales for the day per the register tape were $2,812.

                                    The actual cash received from cash sales were $2,822.

                    31            Decreased the petty cash fund by $100.

            General Journal  
DateDescriptionDebitCredit
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     

What is the balance in the cash short/over account (DR or CR & $ amount)? Is it a revenue or an expense?

            Balance in Cash Short/Over? ______________________________

            Revenue or Expense? ____________________________________

Categories
custom term paper writing term paper help term paper writing service

Mar-03

Final Assignment – 36 Hour Case Analysis ($120) – The final assignment in the MAR 4403 course will consist of a challenging and comprehensive sales management case.  This case exam may also contain personal selling / account management effectiveness themes as well as more “classic” sales management themes.  You will be given the case “blindly” (i.e., you will know nothing about it) and some general instructions on the cover page.  You will have 36 hours working independently to prepare your analysis and any recommendations you wish to make based on all that you learned in the MAR 4403 course.  These analyses should be typed, with a maximum length of 10 double-spaced pages.  This blind case will be available on Saturday 12/1 at 11:59 AM and your analysis will be due back 36 hours later in Canvas (final due by midnight on Sunday 12/2). The Word or PDF document is due 36 hours after the assignment is released in Canvas.  Please see Rubric to understand how the final will be evaluated.  I have also attached a document that includes the main areas to develop.

Categories
custom term paper writing term paper writing service thesis help

bb.snhu.edu

Rubric Detail

Proficient Needs Improvement Not Evident

Introduction 7.5 (15%) Effectively addresses the required components of the Introduction section, supported by appropriate interdisciplinary approaches

5.63 (11.25%) Addresses the required components of the Introduction section but does not provide support using interdisciplinary approaches or fails to select an appropriate interdisciplinary approach

0 (0%) Fails to effectively address the required components of the Introduction section

Issue 7.5 (15%) Effectively addresses the required components of the Issue section, supported by appropriate interdisciplinary approaches

5.63 (11.25%) Addresses the required components of the Issue section but does not provide support using interdisciplinary approaches or fails to select an appropriate interdisciplinary approach

0 (0%) Fails to effectively address the required components of the Issue section

Plan 7.5 (15%) Effectively addresses the required components of the Plan section, supported by appropriate interdisciplinary approaches

5.63 (11.25%) Addresses the required components of the Plan section but does not provide support using interdisciplinary approaches or fails to select an appropriate interdisciplinary approach

0 (0%) Fails to effectively address the required components of the Plan section

Level of Detail 7.5 (15%) 5.63 (11.25%) 0 (0%)

A rubric lists grading criteria that instructors use to evaluate student work. Your instructor linked a rubric to this item and made it available to you. Select Grid View or List View to change the rubric’s layout.

Name: IDS 401 Milestone Two Rubric ExitExit

Grid View List Viewhttps://bb.snhu.edu/webapps/rubric/do/course/gradeRubric?mode=grid&isPopup=true&rubricCount=1&prefix=_3934080_1&course_id=_139345_1&maxValue=50.0&rubricId=_448022_1&viewOnly=true&displayGrades=false&type=grading&rubricAssoId=_807810_1#contextMenuhttps://bb.snhu.edu/webapps/rubric/do/course/gradeRubric?mode=grid&isPopup=true&rubricCount=1&prefix=_3934080_1&course_id=_139345_1&maxValue=50.0&rubricId=_448022_1&viewOnly=true&displayGrades=false&type=grading&rubricAssoId=_807810_1#contextMenuhttps://bb.snhu.edu/webapps/rubric/do/course/gradeRubric?mode=grid&isPopup=true&rubricCount=1&prefix=_3934080_1&course_id=_139345_1&maxValue=50.0&rubricId=_448022_1&viewOnly=true&displayGrades=false&type=grading&rubricAssoId=_807810_1#contextMenuhttps://bb.snhu.edu/webapps/rubric/do/course/gradeRubric?mode=grid&isPopup=true&rubricCount=1&prefix=_3934080_1&course_id=_139345_1&maxValue=50.0&rubricId=_448022_1&viewOnly=true&displayGrades=false&type=grading&rubricAssoId=_807810_1#contextMenuhttps://bb.snhu.edu/webapps/rubric/do/course/gradeRubric?mode=grid&isPopup=true&rubricCount=1&prefix=_3934080_1&course_id=_139345_1&maxValue=50.0&rubricId=_448022_1&viewOnly=true&displayGrades=false&type=grading&rubricAssoId=_807810_1#https://bb.snhu.edu/webapps/rubric/do/course/gradeRubric?mode=grid&isPopup=true&rubricCount=1&prefix=_3934080_1&course_id=_139345_1&maxValue=50.0&rubricId=_448022_1&viewOnly=true&displayGrades=false&type=grading&rubricAssoId=_807810_1#

Provides an appropriate amount of detail, allowing the reader to understand the major points of the analysis and supporting material

Provides some detail, but the reader may struggle to understand some of the major points of analysis and supporting material

Includes an inadequate amount of detail, undermining the reader’s ability to understand the major points and supporting material

Use of Academically Appropriate Evidence and Resources

7.5 (15%) References at least three specific pieces of academically appropriate evidence and/or resources, including at least three separate disciplines, to support the central actions

5.63 (11.25%) References pieces not directly related to academically appropriate evidence and/or resources or fails to meet the minimum of three separate disciplines to support the central actions

0 (0%) Does not include evidence and/or resources, or those selected are not academically appropriate, and/or does not include at least three separate disciplines

Organization of the Outline

7.5 (15%) Submission is well organized and lends itself to a cohesive presentation that will flow effectively

5.63 (11.25%) Submission has some organization issues that interfere with the flow of the presentation

0 (0%) Submission suffers from major organizational issues that will interfere with the overall flow of the presentation

Articulation of Response

5 (10%) Submission is free of major grammatical, syntax, or spelling errors

3.75 (7.5%) Submission contains minor grammatical, syntax, or spelling errors that interfere with understanding the meaning

0 (0%) Submission contains major grammatical, syntax, or spelling errors that interfere with understanding the meaning