A01 Exam 8 (second set)

Question 1 (5 points)
 
The drawee is the __________.
Question 1 options:

person who writes the check

bank that drawer has an account with

the person to whom the check is payable

the person who reconciles the account
Question 2 (5 points)
 
A nonsufficient funds check was returned to your company. How does the bank treat this on your bank statement?
Question 2 options:

It is added to the bank balance.

It is shown as a debit memo.

It is shown as a credit memo.

None of these answers are correct.
Question 3 (5 points)
 
Which of the following bank reconciliation items would be reflected in a journal entry?
Question 3 options:

error made by the bank

outstanding checks

bank service charges

deposit in transit
Question 4 (5 points)
 
A restrictive endorsement on a check __________.
Question 4 options:

can be further endorsed by someone else

is the safest endorsement for businesses

permits the bank to use its best judgment

None of these answers are correct.
Question 5 (5 points)
 
The bank statement shows __________.
Question 5 options:

the beginning bank balance of the cash at the start of the month

the checks the bank has paid and any deposits received

any other charges or additions to the bank balance

All of these answers are correct.
Question 6 (5 points)
 
From the bank reconciliation no entry was recorded for deposits in transit. This would cause __________.
Question 6 options:

assets to be overstated

assets to be understated

no impact since deposits in transit are already included in the balance per books

no impact since deposits are not recorded on the books
Question 7 (5 points)
 
Endorsing a check __________.
Question 7 options:

guarantees payment

transfers the right to deposit or transfer cash

cancels the transaction

All of these answers are correct.
Question 8 (5 points)
 
Which item(s. will require a journal entry to update the balance in the Cash account?
Question 8 options:

checks outstanding and deposits in transit

bank service charges, note collected by the bank, and deposits in transit

bank service charges, note collected by the bank, and error made by Accounting Services

None of these answers are correct.
Question 9 (5 points)
 
 Determine the adjusted cash balance per bank for Santa's Packaging on November 30, from the following information.
 
Cash balance on the bank statement    $2,350
Customer's check returned—NSF    500
Customer's note collected by the bank    600
Deposits in transit, November 30    1,400
Outstanding checks, November 30    2,650
Question 9 options:

$1,250

$1,100

$1,550

$1,350
Question 10 (5 points)
 
How would outstanding checks be handled when reconciling the ending cash balance per the bank statement to the correct adjusted cash balance?
Question 10 options:

They would be added to the balance of the bank statement.

They would be subtracted from the balance of the bank statement.

They would be added to the balance per books.

They would be ignored.
Question 11 (5 points)
 
If the written amount on the check does not match the amount expressed in figures, the bank may __________.
Question 11 options:

pay the amount written in words

return the check unpaid

contact the drawer to see what was meant

All of these answers are correct.
Question 12 (5 points)
 
The check is written and signed by the __________.
Question 12 options:

drawer

drawee

payee

payer
Question 13 (5 points)
 
Advantages of on-line banking include __________.
Question 13 options:

convenience

transaction speed

effectiveness

All of the above answers are correct.
Question 14 (5 points)
 
Which item should be added to the company's book balance during the bank reconciliation?
Question 14 options:

deposit in transit

check outstanding

bank service charge

note collected by the bank
Question 15 (5 points)
 
 Calculate, from the following information the adjusted cash balance at the end of April.

Bank statement ending cash balance    $2,000
General ledger cash balance ending    3,250
Bank monthly service charge    45
Deposits in transit    2,500
Outstanding checks    1,500
NSF check returned with bank statement    205
Question 15 options:

$3,000

$4,250

$4,000

$5,500
Question 16 (5 points)
 
Scotch Services received a credit memorandum from the bank. During the bank reconciliation they should __________.
Question 16 options:

increase their cash account on the company's books

decrease their cash account on the company's books

increase the ending cash balance on the bank statement

decrease the ending cash balance on the bank statement
Question 17 (5 points)
 
On a bank reconciliation, deposits added to the bank side are called __________.
Question 17 options:

deposits in transit

late deposits

deposits on hold

outstanding deposits
Question 18 (5 points)
 
Company policy for internal control should include all of the following EXCEPT for what?
Question 18 options:

Employees will be rotated.

Monthly bank statements should be sent to and reconciled by the same employees who authorize payments and write checks.

The owner (or responsible employee. signs all checks after receiving authorization to pay from the departments concerned.

At time of payment, all supporting invoices or documents will be stamped "paid."
Question 19 (5 points)
 
The bank statement included bank charges. On the bank reconciliation, the item is __________.
Question 19 options:

an addition to the balance per company books

an addition to the balance per bank statement

a deduction from the balance per bank statement

a deduction from the balance per company books
Question 20 (5 points)
 
A full endorsement on a check __________.
Question 20 options:

is the same as a blank endorsement

can be endorsed only by the person or company named in the original endorsement

is the safest endorsement for businesses

does none of the above

XECO212-week-7 DQ2----2019

Assume the government is running a budget deficit. Should the government raise taxes to balance the budget? Should the government decrease spending to balance the budget? What are the pros and cons of each action?

XECO212-International_Trade_Simulation.....

Assignment: International Trade Simulation

Complete the International Trade Simulation.

Write a 1,050- to 1,250-word report advising the President of Rodamia making recommendations for international trade. Address the following:

o List at least one advantage and one limitation of international trade you encountered in the simulation.

o Define absolute and comparative advantage in your own words.

o Explain how absolute and comparative advantages were used in your simulation.

o Describe the influences affecting foreign exchange rates.

XECO212-International Trade Simulation Assignment Week-8...-2019

Part I.  After completing your trade simulation answer the following questions (keep in mind that you can complete the simulation as many times as you wish):

1.       What is an absolute advantage? (2 points)

2.       What is a comparative advantage? (2 points)

3.       What is the country's maximum amount of corn and cheese it can produce (PPF)? Fill out the table below  for Uthania and Alphazia (4 points) 

	Cheese	Corn
Rodamia	8	4
Uthania
Alphazia

4.       What is the opportunity cost of production of one unit of cheese and 1 unit of corn for Uthania and Alphazia? (4 points)

	Opportunity costs of producing
	1unit of cheese	1 unit of corn
Rodamia	1/2 unit of corn	2 units of cheese
Uthania
Alphazia

5.       What is the country's maximum amount of watches and DVD players it can produce (PPF)? Fill out the table below  for Rodamia, Suntize, and Uthania (6 points) 

 

	Watches	DVD players
Rodamia
Suntize
Uthania

6.       What is the opportunity cost of production of 1 unit of watches and 1 unit of DVD players for Suntize and Uthania ? Fill out the table; follow the answers from your trade simulation. (4 points)

	Opportunity costs of producing
	1 unit of watches	1 unit of DVD players
Rodamia	2/3 units of DVD players	1.5 units of watches
Suntize
Uthania

 

7.       Does comparative advantage imply the country has the lowest opportunity cost of production? (2 points)

Yes___    No___

8.       According to the information from questions 1-6,  fill out the following table for the lowest opportunity cost (comparative advantage), lowest cost (absolute advantage) that is which country is able to produce the maximum units. You should put the relevant country in each cell ( 6 points) :

	Cheese	Corn	Watches	DVD Player
Absolute advantage	Alphazia
Comparative advantage	Rodamia

9.       Will you import corn or cheese to Rodamia?  From which country? Why? Does the simulation support your choice?(4 points)

10.   Will you import watches or DVD players? From which country? Why? (4 points)

11.   Will you impose a tariff or quota against dumping watches? (Check one) (3 points))

Tariff___________   Quota_________ I will not impose tariff or quota________

12.   Explain your answer for question 10.  Why did not impose a tariff or quota? Also indicate how much of quota or tariff you decided to impose?  (3 points)

13. Will you impose a tariff to protect your corn industry?  Yes___ No___(3 points)

14.  Justify your answer for question 13.   (3 points)

15. If you were to write a report to the president of Rodamia would you recommend a free trade (FTA) or trade with some restrictions? Explain your answer. (5 points)

16. Do Lisa Blake and Walter Barnes support Free Trade? Why or why not? What do they agree and disagree on? (5 Points)

17. What would be advantages of free trade for Rodamia? List at least 2 advantages. (5 points)

18. What are the limitations of free trade for Rodamia? List at least 2 limitations. (5 points)

19. How would trade affect Rodamia's currency and exchange rate? (5 points)

20. What role do comparative and absolute advantages play in the trade agreement? Explain your logic and give example from the simulation (9 points)

XECO212-10_principles_of_economics in buying laptop-2019

In your own words, using the 10 Principles of Economics outlined in Ch. 1 of Mankiw's Principles of Economics, prepare a response to the following questions: How can each of the 10 principles be applied in an example or experience with which you are familiar? How do you intend to use your newfound knowledge in future economic decisions?

 

XECO212- International Trade Debate-2019

International Trade Debate:

The United States must place high tariffs and use quotas to restrict trade with foreign countries.
•Consider the following issues:

o The strength of the dollar on domestic and global economies
o Benefits from tariffs or quotas
o Losses from tariffs or quotas

SO245 Online Exam 7_10 SCORE 100 PERCENT

Question 1 of 40 5.0 Points
A day after Austria-Hungary declared war on Serbia, __________ ordered mobilization against Austria-Hungary.
  A.  Britain
  B.  Russia
  C.  Italy
  D.  France

Question 2 of 40 5.0 Points
According to __________, "Armed conflict kills and maims more children than soldiers."
  A.  GraçaMachel
  B.  S.L.A. Marshall
  C.  Franklin Roosevelt
  D.  Lt. Col. Grossman

Question 3 of 40 5.0 Points
The French wars of religion amounted to a civil war that ended in:
A.  the conclusive victory of the Roman Catholic Church.
B.  a protracted and inconclusive stalemate.
C.  the conclusive victory of the Protestant Huguenots.
D.  the expulsion from France of all French Protestants.

Question 4 of 40 5.0 Points
According to your reading, regarding the Spanish conquest of the Aztecs, which statement is TRUE?
  A.  The role of Aztec warriors was forcing weaker states to pay tribute.
  B.  The Aztecs thought the Spaniards were demons.
  C.  Because the Aztecs were illiterate, they could not read Spanish treaty provisions.
  D.  The Aztecs rallied numerous tribes in an effort to defeat the Spaniards.

Question 5 of 40 5.0 Points
Who among the following proposed that "Man is wolf to man"?
  A.  Winston Churchill
  B.  Robert Lewis Stevenson
  C.  Sigmund Freud
  D.  Aristotle

Question 6 of 40 5.0 Points
Following World War I, which country refused to sign the Treaty of Versailles?
  A.  United States
  B.  France
  C.  Russia
  D.  Italy

Question 7 of 40 5.0 Points
The concept of national sovereignty was established by:
A.  the European invasion of the Holy Lands.
B.  the Treaty of Westphalia.
C.  the Protestant Reformation.
  D.  The Peace of Augsburg.

Question 8 of 40 5.0 Points
During World War I, the Triple Alliance consisted of:
  A.  Britain, France, and the United States.
  B.  The Austro-Hungarian Empire, France, and Britain.
  C.  Britain, France, and Russia.
  D.  France, Britain, and Italy.

Question 9 of 40 5.0 Points
By the end of World War II, the only two countries that could claim to be world powers were:
  A.  Japan and the United States.
  B.  Germany and Japan.
C.  the Soviet Union and Germany.
D.  the United States and the Soviet Union.

Question 10 of 40 5.0 Points
In respect to the Treaty of Versailles, the last of Wilson's 14 points proposed:
A.  that all nations must disarm.
B.  the creation of a League of Nations.
C.  the creation of a World Court.
D.  that nations shall not enter into secret agreements.

Question 11 of 40 5.0 Points
In 1914, Great Britain declared war against Germany. What was the reason for this decision?
  A.  Britain had to honor its treaty with Belgium.
  B.  The British felt that they should render assistance to France.
  C.  The British were alarmed by Russia's rush to mobilize.
  D.  Britain was an age-old enemy of the Austro-Hungarian Empire.

Question 12 of 40 5.0 Points
Regarding __________ colonialism, the highest rates of alcoholism, depression, poverty, and suicide are found among Native Americans.
A.  domestic
B.  indigenous
C.  internal
D.  nativist

Question 13 of 40 5.0 Points
During which major battle in the Pacific did kamikaze attacks result in very high American casualty rates?
  A.  Iwo Jima
  B.  Okinawa
  C.  Battle of Midway
  D.  Guadalcanal

Question 14 of 40 5.0 Points
The age of Western colonialism ended following World War II. The nation that led that trend was:
  A.  France.
B.  the United States.
  C.  Belgium.
  D.  Great Britain.

Question 15 of 40 5.0 Points
Partisans use strike and retreat, harassment, and sabotage tactics. Partisans can be said to engage in __________ warfare.
A.  disorganized
B.  revolutionary
C.  civil
D.  asymmetric

Question 16 of 40 5.0 Points
In the actuality of war, the means of diplomacy–trade, commerce, and civil discourse–are suspended. Therefore, it can be said that:
A.  war is an extension of politics by other means.
B.  there is a radical discontinuity between peace and war.
C.  there is an inevitable alternation between war and peace.
D.  diplomacy is an ineffective effort to forestall inevitable armed conflict.

Question 17 of 40 5.0 Points
During the first day of the Battle of the Somme, of 100,000 British troops who stormed the German defenses, some 60,000 were killed by:
A.  massed artillery.
B.  mustard gas.
C.  machine guns.
D.  counterattacking German troops.

Question 18 of 40 5.0 Points
During the American Civil War, which of these technological advances was directly linked to logistics?
  A.  The invention of the Spencer repeating rifle
  B.  The utilization of machine mass production
  C.  The utilization of the factory system
  D.  The use of railroads for moving men and supplies

Question 19 of 40 5.0 Points
The von Schlieffen plan was aborted:
A.  by Belgian resistance.
B.  at the First Battle of the Somme.
C.  by the Allies' use of mustard and chlorine gas.
D.  at the first Battle of the Marne.

Question 20 of 40 5.0 Points
Concerning the Armenian genocide, which statement is TRUE?
  A.  Armenians are an ancient Muslim people.
  B.  Few Armenians were killed; most were deported from Turkish territory.
  C.  To this day, Turkey denies any part in the Armenian genocide.
  D.  The massacre only ended after 1945.

Question 21 of 40 5.0 Points
Under British rule in India, British-trained native troops were called:
  A.  Lions.
  B.  Bengals.
  C.  Tigers.
  D.  Sepoys.

Question 22 of 40 5.0 Points
At its height, the British Empire occupied about __________ of Earth's land areas.
A.  one fifth
B.  one third
C.  one eighth
D.  one fourth

Question 23 of 40 5.0 Points
Since 1931, Canada, Australia, and New Zealand are referred to as __________ of the British Commonwealth.
A.  provinces
B.  colonies
C.  crown provinces
D.  dominions

Question 24 of 40 5.0 Points
Every __________ person on our planet lives in poverty.
A.  third
B.  fifth
C.  eighth
D.  tenth

Question 25 of 40 5.0 Points
A __________ is a set of assumptions that are taken for granted.
A.  principle
B.  theory
C.  doxa
D.  hypothesis

Question 26 of 40 5.0 Points
When was Japan a de facto colony?

  A.  Under General Douglas Macarthur from 1945 to 1947
  B.  During the Meiji Restoration
  C.  Briefly following the Russo Japanese of 1905
  D.  During the Chinese Yuan Dynasty

Question 27 of 40 5.0 Points
Regarding Portuguese and Spanish colonialism, all of the following are
true EXCEPT:
  A. 
the English word, "chocolate" came from the Aztec word – chocolatl.

   B.  Portugal colonized Brazil.
C.  the potato is native to Colombia.
D.  silver and gold acquired from New Spain funded colonialism.

Question 28 of 40 5.0 Points
Regarding peripheral countries or regions, all of the following are true EXCEPT:
A.  they are all dependent on core countries for capital.
B.  the term peripheral is not necessarily synonymous with poverty.
C.  most of the impoverished countries are in Africa.
D.  there is a downward spiral to the bottom as peripheral states lower
wages in order to compete with all other nations.

Question 29 of 40 5.0 Points
In the New World, the era of Western colonialism was initiated by:
  A.  Portugal.
  B.  Spain and Portugal.
  C.  Holland and Spain.
  D.  France and England.

Question 30 of 40 5.0 Points
Between 1600 and 1765, the British East India Company established __________ at Bombay, Calcutta, and Madras.
A.  presidencies
B.  companies
C.  provinces
D.  commonwealths

Question 31 of 40 5.0 Points
Who was King Leopold's "man in Africa"?
  A.  Joseph Conrad
  B.  David Livingston
  C.  Albert Camus
  D.  Henry Morton Stanley

Question 32 of 40 5.0 Points
According to Wallerstein, during the 17th and 18th centuries, because that country's economy was all but entirely domestic, Russia was counted among the __________ nations.
A.  external
B.  core
C.  peripheral
D.  semi-peripheral

Question 33 of 40 5.0 Points
In the 19th century, as a result of the economic depression in Europe, colonial powers used their colonies as "dumping grounds" for masses of the unemployed. An earlier 18th precedent for this sort of thing occurred when thousands of __________ were shipped to __________.
A.  unemployed Dutch peasants; Aruba and New Amsterdam
B.  unemployed Scottish miners; New Zealand
C.  unemployed Scots-Irish miners; the U.S. Appalachians.
  D.  British convicts; Australia

Question 34 of 40 5.0 Points
In 1750, Sir Robert Clive:
A.  established the British trading post at Madras.
B.  defeated the French military assault in India.
C.  established the British trading center at Calcutta.
D.  single-handedly established the British Raj in India with his forces.

Question 35 of 40 5.0 Points
Wallenstein describes the world system as dynamic and ever changing. Thus, today, all of these countries are considered postindustrial states EXCEPT:
A.  the United States.
B.  the European Union.
  C.  Brazil.
  D.  Japan.

Question 36 of 40 5.0 Points
In America, classical liberalism was abandoned for a time, following:
A.  the signing of the Treaty of Versailles.
B.  the Civil War.
  C.  President Kennedy's assassination.
D.  the stock market crash of 1929 and the subsequent Great Depression.

Question 37 of 40 5.0 Points
In the Rwanda genocide:
A.  three quarters of the Hutu people were slaughtered.
B.  approximately 300,000 thousand men, women, and children were killed.
C.  three quarters of the Tutsi people were slaughtered.
D.  the genocide was initiated by the Tutsi people.

Question 38 of 40 5.0 Points
Today, Canada's RCMP is an entirely independent agency and the rough equivalent of America's:
  A.  DEA.
  B.  CIA.
  C.  FBI.
  D.  ATF.

Question 39 of 40 5.0 Points
Among the Western nations that joined in the 19th century rush to establish colonies in Africa, which nations led the pack in terms of square miles claimed?
  A.  Great Britain, France, and Belgium
  B.  Great Britain, France, and Portugal
  C.  France, Spain, and Great Britain
  D.  France, Great Britain, and the Netherlands

Question 40 of 40 5.0 Points
Great Britain outlawed the slave trade in:
A.  1865.
B.  1861.
C.  1833.
D.  1807.