Practice Test for CORe Certification Real 2024 Mock Exam
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NEW QUESTION # 53
A chain of grocery stores operates in two neighboring towns. The store in one of the towns charges five percent more than the other store for the same products. How can the company charge different prices and remain competitive?
- A. The grocery chain has no substitutes in either town.
- B. Shoppers living near the expensive store are unwilling to drive farther for lower prices.
- C. The grocery chain pays higher rent at the store where it charges higher prices.
- D. Delivery of produce to the expensive store costs more than to the cheaper store.
Answer: B
NEW QUESTION # 54
The owner of a small bakery is interested in forecasting the bakery's total sales for a certain date. The owner believes that sales on a given day are influenced by the day's highest temperature (in degrees F) and whether the day falls on a weekend (Saturday or Sunday). A random sample of 60 days is taken from November 2013 to May 2014; the regression results are given below. If the high temperature for tomorrow, a Thursday, is forecasted to be 60 degrees F, what does the model predict the total sales will be?
Note that the weekend dummy variable takes a value of one for Saturday and Sunday and zero otherwise.
- A. $500.41
- B. $1,271.27
- C. $1,571.27
- D. $2,042.13
Answer: B
NEW QUESTION # 55
Which of the following methods for valuing and expensing inventory is NOT allowed under the International Financial Reporting Standards (IFRS)?
- A. Standard Cost
- B. Last In First Out (LIFO)
- C. First In First Out (FIFO)
- D. Weighted Average
Answer: B
NEW QUESTION # 56
With normally distributed data, approximately 95% of all observations fall within how many standard deviations from the mean?
- A. 0
- B. 1
- C. 2
- D. 3
Answer: C
NEW QUESTION # 57
A company had sales revenue of $500,000 for 2013. During 2013, the company incurred operating expenses of $40,000 and interest expenses of $60,000. The income before taxes was $220,000. What was Cost of Goods Sold (COGS) for the year 2013?
- A. $220,000
- B. $180,000
- C. $240,000
- D. $200,000
Answer: B
NEW QUESTION # 58
A manager wants to examine the effect of season (Spring, Summer, Autumn or Winter) and time of the game (Morning, Afternoon or Evening) on the number of television viewers for a National Basketball Association game. How many dummy variables should be included in the multipleregression?
- A. 0
- B. 1
- C. 2
- D. 3
Answer: A
NEW QUESTION # 59
Which of the following transactions represents an owner's equity transaction for a company?
- A. The purchase of shares in a company that's also a supplier
- B. A purchase of a building paid in cash
- C. An in-kind payment for services received
- D. A repurchase of a company's own stock
Answer: D
NEW QUESTION # 60
A company manager commissions a report to study the relationship between sales volume (in thousands of units) and the number of computers in each of the company's offices.
When the manager receives the report, however, the p-value for the independent variable is missing. Based on the rest of the regression output, which of the following numbers is the correct p-value?
- A. 0.0095
- B. 0.6196
- C. 0.0023
- D. 0.0490
Answer: B
NEW QUESTION # 61
A dance club earns revenues by charging an entry fee and then selling drinks to attendees. This pricing scheme is MOST similar to:
- A. Selling a computer and word processing software as a package.
- B. A movie theater providing a discount to college students.
- C. Offering a rebate on a new television.
- D. A grocery store that is open only to paying members.
Answer: D
NEW QUESTION # 62
Based on the multiple regression output below, choose the variable with the highest level of significance.
- A. X Variable 9
- B. Intercept
- C. X Variable 3
- D. X Variable 5
Answer: A
NEW QUESTION # 63
After some recent problems regarding the anti-lock brake systems in its cars, a major automobile company decides to take a random sample of 50 cars from its manufacturing plant. To make things easier, management decides to conduct the sampling from all cars produced on a particular day. Which of the options below represents the BEST way to take this sample?
- A. Assign a random number to each car manufactured that day.Then identify the first 50 numbers in ascending order, and select the cars corresponding to those numbers.
- B. Test the first 50 cars manufactured that day to eliminate any bias in the selection process.
- C. Have the plant manager select 50 cars, because the manager will be most informed about the manufacturing process.
- D. Create a focus group of managers from the plant to determine which cars should be selected for the sample.
Answer: A
NEW QUESTION # 64
A technology company normally sees increased revenues for its cell phones when it raises
prices. However, when the company released an updated version of the phone and charged a higher price, revenues fell. What MOST likely happened to the cell phone market?
- A. The price for cell phone plans decreased.
- B. The price of land line phones increased significantly.
- C. Profits earned by the company's suppliers rose.
- D. There was an increase in the number of substitute phones.
Answer: D
NEW QUESTION # 65
Assuming the confidence level remains constant, what happens to the width of the confidence interval as the sample size increases?
- A. It is not possible to determine the changes without seeing the data first.
- B. The confidence interval narrows.
- C. The confidence interval widens.
- D. The confidence interval remains unchanged.
Answer: B
NEW QUESTION # 66
During 2013, a company's prepaid expense decreased by $40,000, while its unearned revenue increased by $60,000. The company reported a pretax income under accrual basis of $250,000 on its 2013 income statement. What is the company's pretax income under
cash basis of 2013?
- A. $350,000
- B. $230,000
- C. $270,000
- D. $150,000
Answer: A
NEW QUESTION # 67
In a small town, there are two Mexican restaurants. Restaurant A serves traditional dishes from Western Mexico while Restaurant B primarily serves Northern Mexican cuisine. Many more residents of the town are willing to buy the Northern cuisine than the Western cuisine. Which of the following reasons could NOT explain why Restaurant A continues to offer a different menu than that of its competitor?
- A. Restaurant A fears that changing its menu will increase competition and erode profits.
- B. Restaurant A is currently earning 0 profits.
- C. Restaurant A is able to charge higher prices for its dishes than Restaurant
- D. Restaurant B is operating at its minimum efficient scale.
Answer: B
NEW QUESTION # 68
In calculating cash flows, which of the following scenarios would lead to a decrease in net working capital?
- A. A decrease in current liabilities greater than a decrease in current assets
- B. An increase in current assets greater than an increase in current liabilities
- C. An increase in current liabilities greater than an increase in current assets
- D. A decrease in net operating fixed assets
Answer: C
NEW QUESTION # 69
A company collected $10,000 from a customer in payment for goods sold to the customer a month ago on credit. How would the collection impact the accounting equation?
- A. Increase assets and increase liabilities
- B. Increase assets and increase owner's equity
- C. Increase assets and decrease assets
- D. Increase assets and decrease liabilitiies
Answer: C
NEW QUESTION # 70
Exhibit:
A recent graduate is interested in investing in a stock. This individual is particularly interested in retail companies and has been following two companies closely for the past year. In order to decide which stock to invest in, this individual decides to compare monthly returns for both companies over the past year. A table of descriptive statistics is given below. What can be said about Company A regarding risk and average returns in relation to Company B?
- A. Company A has higher average monthly returns and is relatively more risky than Company B.
- B. Company A has lower average monthly returns and is relatively less risky than Company B.
- C. Company A has lower average monthly returns and is relatively more risky than Company B.
- D. Company A has higher average monthly returns and is relatively less risky than Company
Answer: D
NEW QUESTION # 71
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