MGTA04H3 Exam- 2008 Summer.docx

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University of Toronto Scarborough
Management (MGT)
Chris Bovaird

MGTA04Introduction to ManagementMANAGEMENTQuestion 1Which of these basic ideas is correctBookkeeping is the total system what happens after that is not accounting Accounting collects information analyzes it and then gives it to people who need it Bookkeeping analyzes information Bookkeeping measures performance Accounting records information but cannot analyze it Question 2Users of accounting information includeregulators unions controllers investors All of the above Question 3As you develop your new product you go through stages The most correct order isscreen analyze prototype test screen commercialize commercialize research screen prototype service analysis commercialize focus group then observationQuestion 4Your performance in your parttime job has been so successful that the owner has asked you to be marketing manager for one of the companys products when you graduate When you apply the marketing concept to your product you will focus onthe 4 Ps the customer and the 4 Ps just the customer profits and the customer the mixQuestion 5If you became a professional accountant you would providemanagement services tax planning a check to make sure that the GAAP have been followed All of the above None of the aboveQuestion 6Longterm loans corporate bonds and preferred stock are alllongterm financing equity financing shortterm financing equally expensive stock exchange financingQuestion 7The basic equation that accounting rests on isALE EA x L LEA LAB ALE Question 8One way you could start a small business is to purchase an existing company If you do that you willowe the liabilities own the assets have some equity All of the above None of the above Question 9You work for a small company in your parttime job and recently your boss asked you to recommend how to collect some data about the market Which of the following would be the best recommendationsecondary data and observation experimentation and primary data primary and secondary data
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